Category Archives: Rewards

American Express Cash Magnet Card Review

american express cash magnet card
Great introductory offer and rewards

The Cash Magnet Card from American Express offers an introductory 0% APR on purchases and balance transfers for the first 15 billing cycles made within the first 60 days of account opening.

For a large purchase or bill a new cardholder can save hundreds or in some cases over a thousand dollars in financing charges over a 15 month period.

Here are two examples of the interest a new account holder wouldn’t have to pay during the introductory period.

  • A $2,500 charge saves from $461 (14.74% APR) to $804 (25.74% APR)
  • A $5,000 charge saves from $921 (14.74% APR) to $1,609 (25.74% APR)

To avoid paying interest charges any balance must be paid in full within 15 months of getting your new card.

Even if you don’t make such a large initial purchase, American Express rewards you with an extra $150 bonus on spends over $1,000 within the first 3 months on top of the normal 1.5% rewards for each purchase.

Should your total spend reach $6,500 or more in the first 12 months, then American Express rewards you with an additional $100 rebate.

With the holiday shopping season coming up the Cash Magnet can spread the cost of gift-giving over most of 2019, and reduce the bills by $1.50 per hundred plus the $150 to $250 if you’re really generous.

In addition most of the items you buy for yourself or others carry these protections when you keep all the proper documents (especially receipts).

Purchase Protection
Extended warranty
Return Protection
Dispute Resolution

These benefits come in handy if your items or gifts need to be exchanged, get damaged or stolen, or just to keep records of purchases for future reference.  

Best of all there is no annual fee and you’re protected from unauthorized charges with the zero liability policy.

SOME TERMS AND CONDITIONS

  • Grace Period: 25 days
  • Annual Fee: $0
  • Balance Transfer Fee: 3% (min $5)
  • Cash Advance Fee: 3% (min $5)
  • Foreign Transaction Fee: 2.7%
  • APR for first 15 billing cycles: 0%
  • APR on revolving balances: 14.74 to 25.74%
  • APR on balance transfers: 14.74 to 25.74%
  • APR Cash Advances: 26.99%
  • Fraud Protection: yes
  • Warranty Extension: yes
  • click here for application

Shop Your Way Credit Card

shop your way credit card
Shop Your Way credit card

Shop Your Way credit card offers members introductory extra points on purchases at gas stations, grocery stores, restaurants, Sears, KMart.

New account holders earn a $20 statement credit when they spend $30 in eligible purchases within the first 30 days of getting a new card.

The bonus point offer applies only on eligible purchases made within 12 months with a new card according to the following schedule:

Shop Your Way Credit Card Bonus Categories

The points are not redeemable as statement credits, but towards purchases for select products in its online catalog.

Additional card features include

  • No annual fee
  • Zero liability on unauthorized purchases
  • Monthly savings and valuable coupons exclusive to card members
  • Accepted everywhere Mastercard is accepted.

Other Mastercard benefits are

  • Purchase Assurance
  • Extended Warranty Coverage
  • Identity Theft Solutions

Details and application is available at Shop Your Way.

AARP Rewards Card from Chase

AARP Rewards Visa Card

The AARP Rewards Visa credit card offers features 3% rebates on gas and dining purchases, and has no annual fee.

As an added incentive new cardholders receive a $100 bonus after spending $500 within the first three months of using the card.

In addition they pay no interest on purchases made during their first 12 billing cycles, if they decide to hold a balance until then 

Though co-branded with the American Association of Retired Persons (AARP), you don’t have to be over 55 or even a member for this credit card.

Upon approval Chase may issue either a Visa Signature Card with a credit line of at least $5,000, or a Visa Platinum Card with minimum credit line of $500. 

In effort to help those in Chase Bank will donate $0.10 for each purchase made at a restaurant to the AARP Foundation towards the support of Drive to End Hunger.

A summary of rates, fees, features and benefits follows below.

Interest Rates

  • Purchases – 0% for 25 days if statement balance is zero
  • Purchases – 17.99% to 24.74% if statement balance is greater than zero
  • Cash Advances – 26.74%
  • Balance Transfers – 17.99% to 24.74% (if available)

Fees

  • Annual Fee: $0.00
  • Balance transfer: 3% ($5 min)
  • Cash advance: 5% ($5 min) or 5% at ATM
  • Foreign transaction: 3.0%
  • Late payment: up to $15 or $35
  • Returned payment: up to $35

Earn Rewards

  • 1 Member Reward point per dollar on eligible purchases
  • 3 Member Reward points per dollar on eligible gas stations or restaurants

Redeem Member Reward Points

  • Minimum to redeem: 2,000 points
  • As a statement credit or direct deposit checking or savings account
  • Gift cards such Walmart, Amazon, and more
  • Travel, including flight, hotels, cruises, etc.

Purchase Services

  • Theft and accidental damage protection, including cell phones
  • Return protection within 90 days of purchase
  • Free extended warranties (up to 2 years)

Travel Benefits

  • Roadside Assistance Hotline
  • Car rental and damage insurance (excludes liability coverage)
  • Global Assist Hotline (doesn’t pay for third-party costs)
  • Travel accident insurance on common carriers

Security Features

  • Fraud Protection
  • Advanced secure chip technology
  • Text alerts

Other Card Benefits

  • Mobile banking
  • Text and/or email alerts on purchases, balances, reminders, etc.
  • Monthly summaries

American Express Blue Card

American Express Blue Card
Blue Card from American Express

The classic American Express Blue Card provides cardholders a worry-free Amex credit card for everyday use.

Its basic package includes an effective 1% rebate on eligible purchases, some special discounts, monthly and yearly statements to track spending habits, and world-class American Express customer service.

Interest Rates

  • Purchases – 0% for 25 days if statement balance is zero
  • Purchases – 16.99%, 19.99%, 21.99% if statement balance is greater than zero
  • Cash Advances – 26.99%
  • Balance Transfers – 14.24% to 25.24% starting on transfer date
  • Late payments – 29.99% (for at least 6 months)

Fees

  • Annual Fee: $0.00
  • Fee on balance transfer: 3% ($5 min)
  • Cash advance: 3% ($5 min)
  • Foreign transaction: 2.7%
  • Late payment: up to $38
  • Returned payment: up to $38

Earn Rewards

  • 1 Membership Reward point per dollar on eligible purchases
  • 2 Membership Reward points per dollar on eligible travel purchase at AmexTravel.com 
  • Minimum to redeem: 2,000 points

Redeem Membership Rewards

  • Cash back on eligible purchases
  • Merchandise such as electronics, fashion, home goods
  • Online shopping at amazon.com, bestbuy.com, walmart.com, grubhub.com, and more 
  • Gift cards
  • Travel, including airfare, hotels, luggage
  • Entertainment
  • Donate to selected charities

Purchase Services

  • Theft and accidental damage protection, including cell phones
  • Return protection within 90 days of purchase
  • Free extended warranties (up to 2 years)

Travel Benefits

  • Roadside Assistance Hotline
  • Car rental and damage insurance (excludes liability coverage)
  • Global Assist Hotline (doesn’t pay for third-party costs)
  • Travel accident insurance on common carriers

Security Features

  • Fraud Protection
  • Advanced secure chip technology
  • Text alerts

Amex Card Benefits

  • Exclusive savings with Amex Offers
  • Amex mobile app
  • ShopRunner program members receive free 2nd-day shipping from participating merchants.
  • Guaranteed savings off MSRP on new vehicles using the TrueCar service, with some dealers allowing cardholders to place the entire purchase on their Amex card, up to their credit limit
  • Entertainment Access for cardholder-only events and places
  • Monthly and annual summaries
  • Free authorized users cards

For all the fine print and application visit the American Express Blue Card site.