mountaindewvoltage wrote:
Themanwhocan wrote:
SouthJamaica wrote:
mountaindewvoltage wrote:
longtimelurker wrote:
mountaindewvoltage wrote:My local credit union's card terms came in the mail today after I was approved about a week ago.
Variable interest rate: 8.49% to 17.74%.
Cash advances, balance transfer APR: Same as purchase APR.
Penalty APR: None.
Minimum Interest Charge: None.
Annual Fee: None
Transactions & Balance Transfer Fees: None.
ATM/Branch Cash Advance Fees: None.
Foreign Transaction Fees: None.
Late Payment: Up to $25 (if 10 days or more late).
Over Credit Limit Fee: None.
Returned Payment Fee: None.
Rewards rate: 1.5 points per dollar on all purchaes, where you can get $25 in gift cards, travel, etc., for 2,500 points and so on.
Anyone ever see a card with better terms than this? Please share.
It obviously depends how you weight the various factors, e.g. for Rewards rate, the DC/Fid/Blispay are better. There are cards with lower APRs.
I was speaking as a whole, from top to bottom.
While the DC offers .5% more back it does have a 3% foreign transaction fee, higher APR range, up to $37 late fee, cash advance fees, returned paymen t fees, penalty APR, and a balance transfer fee (unless you have an offer).
IMHO that's as good as it gets. I have a card with no fees like that, the PenFed Promise, but it doesn't also have rewards.
The Barclay Ring card is also a great card, no BT fee, $3 cash advance fee, low interest. But there too, no rewards.
You don't like the Premier America card I posted about, with 1.5 points per dollar spend, a signup bonus, lower APR range, etc? With a organization you can join to make yourself eligible to become a member of premier america.
With my CU card, 2500 points gets you $25 which is 1.5%.
With that card you listed, it takes 2723 points to get a $25 gift card. I would have to spend another $148 to catch up to the value my CU's card gives me for the same redemption value. You may not think $148 is a lot, but when you redeem on a much large scale, it is. If I want to redeem $500 for airfare, I'd have to spend another $2,516 on your card for the same value.
Hmm, you're right, it has a strange point value for gift cards. I wonder how much points are worth for statement credit?
Of course, you do start with a 10,000 point head start with this card 
$25 gift cards are 2723 points. 1 point = 0.918 points
$50 gift cards are 4996 points, 1 point = 1 cent
$100 gift cards are 9541 points. about a 5% discount, so 1 point ~= 1.05 cents