Tag Archives: Intro APR

SunTrust Prime Rewards Mastercard

SunTrust Prime Rewards Mastercard

SunTrust Prime Rewards Credit Card balance transfer offer of 3 years at prime interest rate (currently 5.50%) with NO balance transfer fee is unmatched anywhere else.

Most banks offer introductory rates of 0% APR, but for a much shorter time frame and with transfer fees of 3% or more.

Importantly the funds must be transferred within the first 60 days of account opening.

As an alternative to a balance transfer SunTrust offers a whopping $100 statement credit when new account holders spend $500 on qualifying purchases within the first 3 months with their new card.

Be very careful not to mix credit card purchases with the transfers, because transfers may be treated as purchases and subject to the purchase interest rates.

The Prime Rewards cards earns 1% rewards on eligible purchases, with a redemption bonus for SunTrust accounts.

Introductory Offer
  • Prime interest rate on balance transfers for 3 years from account opening. Currently 5.50%, but check here for updates.
  • $100 in statement credit after $500 spend on qualifying purchases during the first 3 months after account opening
Rewards
  • Get one point for every eligible $1 spent on your credit card
  • Flexible rewards redemption options
    • Travel
    • Merchandise
    • Retail Gift Cards
    • Cash ($5 minimum)
      • Statement credit
      • Direct deposit to checking or saving accounts
      • SunTrust accounts receive 10%, 25%, or 50% bonus
Interest Rates as Annual Percentage Rate (APR)
  • Purchases paid in full within 25 days of statement date: 0%
  • Balances on statements after 25 days: 13.49% to 23.49%
  • Balance Transfers: 13.49% to 23.49%
  • Cash Advances: 27.24%
Fees
  • Annual Fee: none
  • Balance transfers: 3% ($10 min)
  • Cash Advances: 4% ($10 min)
  • Foreign transaction: none
  • Late penalty: $39
Free Benefits
  • Zero-liability on unauthorized use of the card
  • Card lock if it’s lost or stolen
  • EMV Chip Technology
  • Enroll in automatic payment feature to avoid late charges
  • Text or email alerts on purchases, balances, due dates, and more
  • Add authorized users for free, but they don’t pay for their charges
  • Free FICO score
Guide to SunTrust World Mastercard® Cardholder Benefits
  • Warranty extension where applicable
  • Auto collision waiver damage
  • Travel and emergency assistance (service fees may apply)
  • Travel accident insurance
  • Roadside assistance
  • 24/7 customer service

For application and important details visit the SunTrust Prime Rewards card web page.

For people not familiar with the Atlanta origins of SunTrust, in 1919 as Trust Company of Georgia, it provided underwriting services to The Coca-Cola Company and received $100,000 of the company’s first publicly traded stock for its services.

In 2012 SunTrust sold those shares for nearly $2 billion: its stake went up in value by 1,999,990% over those 93 years.

A little known fact was the secret formula for Coca-Cola was kept in a SunTrust vault until 2011, when it was transferred to the new World of Coca-Cola building in Atlanta, Georgia.
SunTrust Coca-Cola vault

Auburn University Credit Card

University of Auburn Visa Credit Card
Spirit of Auburn Visa credit card

Open a new Auburn University credit card and get an introductory cash bonus and 0% APR for 12 months.

To qualify for the $150 cash bonus you must charge at least $500 on your new card within the first 90 days of account opening.

Available at no cost to alumni and friends of Auburn University, two choices featuring the iconic Auburn University logo are available:

  • Cash Rewards World Mastercard credit card
  • Cash Rewards Visa Signature credit card

Besides the perks Auburn University alumni and friends cardholders receive, these cards contribute to Auburn’s scholarship fund at no additional cost. To date, this program has generated more than $4.5 million for freshman academic scholarships.

This is the only credit card that directly benefits the university.

Members benefits include

  • No annual fee
  • 3% cash back for the category of your choice
  • 2% cash back at grocery stores and wholesale clubs
  • 1% cash back on all other eligible purchases
  • Itemized list of all purchases for easy record-keeping and returns
  • Extended warranty on defective items
  • Zero liability fraud protection

Whether you are an alumni or friend of Auburn University apply here for a new Spirit of Auburn credit card and spread your holiday shopping expenses over an entire year at no interest.

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

AAA Member Rewards review, benefits and features

AAA Member Rewards Visa Card

The AAA Member Rewards Visa Signature credit card offers cardholders competitive benefits as the go-to choice for most purchases.

Though co-branded with American Automobile Association (AAA), you don’t have to be a member of AAA to get a card.

The rewards of 3% on travel and AAA purchases, 2% at grocery stores, gas stations, and drugstores, and 1% for all other eligible net purchases make the card a sensible choice for people who prefer to keep their lives as simple as possible.

The introductory offer of a $75 statement credit after you make at least $500 in purchases within the first 90 days of account opening is modest, though the dollar amount to qualify is fairly easy to reach.

A more potentially rewarding feature is the offer of 0% APR for 12 months on balance transfers.

People holding large balances on their current cards at the current average rate of 17.23% APR can save a significant amount of money, even with the 3% balance transfer fee.

  • $1,000 at 14.23% means keeping $142.30 in your pocket.
  • $5,000 at 14.23% means keeping $711.50 in your pocket.
  • $10,000 at 14.23% means keeping $1,423.00 in your pocket.

Once the introductory period expires though, because the APR can jump up to as high as 21.99%, i.e. the monthly payment of interest alone, on a $5,000 transfer, can go from $12.50 to $91.63 per month.

Also note during the introductory period, all transactions and balances, including purchases, will be charged interest.

While saving money helps, paying off the balance in full before the introductory period ends is essential to keep the money in your pocket where it belongs.

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

Interest Rates

  • Purchases – 0% for 25 days if statement balance is zero
  • Purchases – 14.99% to 24.99% if statement balance is greater than zero
  • Cash Advances – 17.99% to 26.99%
  • Balance Transfers – 14.99% to 24.99% 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) or 5% at ATM
  • Foreign transaction: 0.0%
  • Late payment: up to $38
  • Returned payment: up to $27

Earn Rewards

  • 1 Member Reward point per dollar on eligible purchases
  • 2 Member Reward points per dollar on eligible travel purchase at grocery stores, gas stations or drugstores/pharmacies
  • 3 Member Reward points on travel or AAA items

Redeem Member Reward Points

  • Minimum to redeem: 2,500 points for air, 3,500 points for gift cards, 5,000 points for cash
  • Merchandise such as electronics, fashion, home goods
  • Gift cards
  • Travel, including airfare, hotels, luggage

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.
  • Free FICO credit score
  • Apple Pay
  • Entertainment Access for cardholder-only events and places
  • Monthly summaries