Bank of America Cash Rewards Credit Card Review

Earn cash rewards with the Bank of America Cash Rewards Credit Card.

Bank of America Cash Rewards Credit Card Benefits and Drawbacks

People with excellent credit will love the Bank of America Cash Rewards credit card. This attractive credit card is perfect for everyday spending. You can purchase the things you normally would and get rewarded for doing so. However, as with any credit card, the Bank of America Cash Rewards card has its benefits and drawbacks.

Is this a good choice for you? Our comprehensive review will fill you in on the benefits and the drawbacks of owning and using this card. By the end, you’ll know if you could benefit from using the Bank of America Rewards or not.

Bank of America Cash Rewards Credit Card Benefits

1. Rewards Rate

One of the most attractive features of the Bank of America Cash Rewards credit card is the rewards rate. You earn rewards for practically anything you purchase throughout the day. For starters, the Bank of America Cash Rewards card gives you 3% cash back on gas. You also get 2% cash back on groceries, and 1% cash back on all other purchases. Even using this card sparingly will allow you to rack up cash back rewards quickly.

2. Sign-Up Bonus

The Bank of America Cash Rewards credit card also comes with an easily reachable credit card sign-up bonus. You’ll get a $150 statement credit if you spend just $500 in the first three months of owning the card. So this works out to $167 per month and roughly $5.57 per day. That’s around the price of your average coffee purchase.

3. Introductory APR

When you first open your Bank of America Rewards, you’ll get an introductory APR offer. For the first 12 months, you’ll pay a 0% APR. This means that every purchase you make you won’t pay extra in the form of interest. You do want to make sure that you pay off your balance before this introductory offer ends. If you don’t, you could have your debt get out of control quickly with the card’s variable APR.

4. No Annual Fee

Another great feature with the Bank of America Cash Rewards credit card is no annual fee. This is rare on a rewards card, but this card manages to have it. This allows you to use your card as little or as much as you want without feeling guilty. Any rewards you make will be purely beneficial. You won’t have to try and make the rewards you earn outweigh the annual fee’s cost.

5. Unlimited Rewards

Once you earn your rewards, they’re yours to keep. As long as you don’t close your account, your rewards won’t expire. You can stack them for as long as you want and cash them out for larger purchases. It is a good idea to keep your account in good standing and periodically cash them out. The last thing you want to do is close the account and forget about the rewards you’ve saved up.

6. Rewards Rate Refreshes Each Quarter

Your 3% and 2% rewards rate do have a maximum cap of $2,500. Once you hit this cap, they drop down to a 1% rewards rate. However, this resets every three months. If you do cash it out early, you’ll get your 3% and 2% rewards rate back in the new quarter. This is unique for rewards cards as they usually only allow you to reach your cap once per year.

7. Multiple Ways to Redeem

When you do want to cash in your rewards, the Bank of America Rewards card gives you options. So you can redeem your rewards in the form of a statement credit, a deposit, and more. If you choose to redeem it as a deposit into your Bank of America account, you’ll get a 10% bonus. This 10% bonus is for each time you redeem your rewards, and it can add up quickly.

8. Museums on US Program

Cardholders will enjoy the complimentary Museums on US program. This program entitles cardholders to complimentary access to over 150 zoos, museums, and science centers. Also, if you have a larger family or live in an area with several choices, this could be huge. All you have to do is present your card when you go to get the complimentary access.

Bank of America Cash Rewards Credit Card Drawbacks

1. Credit Rating

To qualify for Bank of America Cash Rewards card, you need very good to excellent credit. The lender will base this off of your credit score when you apply for the card. Ideally, you want credit in the low 700s and up to qualify. This cuts out a lot of people, but it’s standard for a rewards card.

2. Higher APR

As this is a rewards card, it’ll have a higher APR. However, if you have lower credit, you’ll pay for it. This card’s APR is variable, and it goes from 14.24% up to 24.24%. If you carry a balance from month to month, this can be a problem. It would be very easy for your debt to get out of control with the added APR and your balance.

3. Foreign Transaction Fee

So for anyone who plans to travel, you may want to leave this card at home. It comes with a 3% foreign transaction fee each time you use it outside of the United States. This can add up quickly, especially if you’re prone to forgoing cash in favor of plastic while you travel. This foreign transaction fee includes ATMs and vendor purchases as well.

4. Balance Transfer Fee

This card comes with a balance transfer fee as well. There is no introductory offer for it. You’ll pay a 3% balance transaction fee with a minimum of $10. This fee is for each balance transfer you transfer to this card. Anyone who plans on having multiple balance transfers would be better off with a different balance transfer card.

Bank of America® Cash Rewards credit card Bottom Line

The Bank of America Cash Rewards credit card is a solid rewards card for everyday spenders. So as long as you can qualify, you will get several benefits and perks for using the card. With responsible use, this card could earn you a decent amount of rewards with few pitfalls.


Best Dining Rewards Credit Cards 2018

Compare the best dining rewards credit cards.

The Three Best Dining Rewards Credit Cards

For anyone trying to save money, dining out can /seem like an unneeded expense. You can spend enough on a single night out as you’d usually spend on a week’s worth of groceries. But, it doesn’t have to be this way. For foodies who like to dine out, the best dining rewards cards can be a lifesaver. Not only do they allow you to dine out on a budget, but you also earn rewards while doing so. You can combine the best dining rewards credit cards with dining coupons for even more savings.

However, how do you know you have the best dining rewards credit card? There are hundreds of cards to choose from, and this can be overwhelming. Lucky for you, we’ve rounded up the top three dining rewards cards. Read on to find out if one of these three cards is a good fit for your lifestyle. You can be on your way to dining out and saving money!

Discover It Card

The Discover It card makes our best dining rewards list due to its huge cashback bonus opportunity. From 7/1/18 to 9/30/18, card members will get 5% cash back on dining out. This does cap at $1,500 in purchases, but it’s a huge way to dine out on a budget. You have to make these purchases at full-service restaurants, cafeterias, fast food, or cafes to get the 5% bonus.

Once you’ve earned your rewards, the lender will add them to your statement within two billing cycles. Also, Discover will match all of your earnings in the first year. This means that you have the potential to earn up to 10% for dining out. Also, Discover has a history of favoring dining out. Over the past few years, the third quarter bonus category has been restaurants and dining out.

You have to be careful how you pay for your dining out because it may affect your eligibility for rewards. Using tap and pay, virtual wallets, or mobile or wireless card readers may not count. If you’re unsure, double check your card’s terms and conditions. This way, you’ll know whether or not you’re maximizing your rewards and getting the best dining rewards possible.

Capital One Savor

The Capital One Savor card is another way to earn the best dining rewards possible. Another perk of using this card is that you don’t have to keep track of categories or peak usage times. It’s a flat-rate reward rate 365 days a year, and this is good news for foodies. If you pair this with the Discover It card, you’ll get an excellent year-round dining rewards rate.

The Capital One Savor offers cardholders 3% cash back on dining out. All you have to do to get his rate is dine out and pay with your card. You’ll also get the flexibility to choose several dining out options. It counts at Starbucks, food trucks, bakeries, and fine dining establishments. These rewards don’t expire, and this means you can stack them year-round and redeem them at one time.

You’ll save when you first get the card as well. If you spend just $500 in the first three months, you’ll earn a $150 bonus. This means you only have to spend $167 per month to get this reward. If you use this card exclusively to dine out, it’s very doable. There’s also no annual fee, so you don’t have to try and balance out your rewards with the cost.

Chase Sapphire Reserve Card

The final best dining rewards card is by Chase. The Chase Sapphire Reserve Card is slightly more tricky to have and justify. It does come with a high $450 annual fee, but it’s a good rewards card. So, if you use this card correctly, you can easily justify having it. Aside from being a good rewards card for foodies, it’s also great for people who travel.

To start, you’ll get three reward points when you dine out with this card. If you dine out a lot, this has the potential to add up very quickly. It’s also an excellent choice for dining while you travel. This is the key to getting the most rewards out of this card. The credit card signup bonus is outstanding. Spend $4,000 in the first four months, the bonus adds up to 50,000 points or $750 in travel rewards.

Combine this with the best dining rewards, and you have a powerful combination. After this time, it will be slightly harder to have it without using it a lot. But, if you maximize your dining rewards, it can be worth it.

Bottom Line

It is very possible to dine out regularly on a budget. These best dining rewards cards can help. As long as you’re smart about your cards, you can benefit from a lot of rewards. The first two cards on our list can work in tandem to help you maximize your rewards. The final card is more for a combination of travel and dining, but you can make it work.

All of these cards offer easy ways to save while you enjoy dining out. As long as you use them responsibly, you can reap the benefits. Be sure to read each card’s terms and conditions, so you’re sure you get your dining rewards. All in all, you’re free to enjoy dining out and earning with these cards.


Capital One Spark Miles Select for Business Review

Capital One Spark Miles Select for business expenses earning travel rewards.

Capital One Spark Miles Select for Business Pros and Cons

If you’re in need of a new business credit card, one popular choice is the Capital One Spark Miles Select for Business. Since the card you choose has a big effect on the amount of travel rewards you earn and your redemption opportunities, it’s important to pick one that fits your needs.

While the Capital One Spark Miles Select for Business is a good card, it won’t be right for everyone. It is important to consider how different business credit cards report to the credit bureaus. Check out our review to figure out whether you should apply or keep looking.

Features of the Capital One Spark Miles Select for Business

Here are the key features for this Capital One business credit card:

  • Earn 1.5 miles per dollar spent on all your purchases (there are no limits on this)
  • Earn a 20,000-mile signup bonus for spending $3,000 in the first three months that you have the card
  • No annual fee
  • 0-percent annual percentage rate (APR) for the first nine months that you have the card
  • After introductory period, variable APR of 14.24 to 22.24 percent
  • Employee cards are free and also earn miles for your account
  • No foreign transaction fees
  • Redeem miles for travel, gift cards or cash (transferring miles is another option)

Redeeming Miles

The best way to redeem your miles is towards travel purchases. There are two ways you can do this.

You can apply your miles as credits to any travel purchases on your statement. Capital One has a broad definition of travel purchases. Besides flights and hotel stays, you could also put your miles towards taxi bills, rideshares and vacation rentals. Miles are worth 1 cent each when you redeem them this way.

Your other travel redemption option is to book a flight or hotel through the Capital One travel portal. When you do this, you again get a value of 1 cent per mile, and you’re simply applying your miles towards the cost of whatever you book. It’s generally better to use the first travel redemption option though, because you can often earn points or cash back through online travel agencies when you book directly through them. You won’t be able to do this if you go through Capital One’s travel portal.

You get 1 cent per mile when you redeem miles for a gift card. This usually isn’t a good choice, since gift cards are often available at a discount. Redeeming miles for cash only gets you a low 0.5 cents per mile. If you’re interested in cash back, you’re better off with the Capital One Spark Cash Back Rewards card.

Now that you know how the Capital One Spark Miles Select for Business works, let’s look at its pros and cons.

Capital One Spark Miles Select for Business Pros

This card’s biggest selling point is undoubtedly its simplicity. In a world where credit cards can have kinds of different benefits and bonus categories, the Capital One Spark Miles Select for Business earns you a solid rewards rate without charging you an annual fee.

If you need some short-term business financing, the 0-percent APR for nine months is perfect for that. Just make sure you get your balance paid off before any interest kicks in.

It’s nice to get as many employee cards as you need without a fee. Should any cards become lost or stolen, there’s also fraud protection.

Redeeming your miles is a breeze, because even on travel purchases, you’re essentially just turning them into cash. You don’t need to spend hours searching for the right award ticket or hotel booking like you would with other reward programs.

Capital One Spark Miles Select for Business Cons

In a way, a couple of this card’s biggest benefits are also its most glaring weaknesses.

As a base rewards rate, 1.5 miles per dollar spent is great. The base rate on most credit cards is 1 point/mile per dollar spent. The problem is that many credit cards have bonus categories where they earn higher reward rates. The Capital One Spark Miles Select for Business does not.

There are several cards out there that earn 2 or 3 points per dollar spent in select spending categories. In all fairness, they typically include an annual fee, as well. Still, you want to compare your usual business spending to the rewards rates offered by different business credit card applications. Look to see if there’s an option that will earn you substantial bonus points.

Although redeeming your Capital One miles is easy to do, you can’t score the great deals you could through other reward programs. With Chase Ultimate Rewards points and American Express Membership Rewards points, you’re free to transfer your points to any of their transfer partners and book travel directly through those partners. This often leads to bookings where you get a far better value than 1 cent per mile, which is an opportunity you won’t have with this card.

Capital One® Spark® Miles Select for Business Final Verdict

Considering it doesn’t have an annual fee and has a solid base rewards rate, the Capital One Spark Miles Select for Business card is a worthy addition to your wallet. It’s an especially good choice if you’d prefer to keep it simple and avoid jumping down the credit card rabbit hole, so to speak.

If you want to maximize your rewards and your award booking opportunities, then this card wouldn’t be the right fit. It would be smarter to find a card through Chase or American Express with more versatile points/miles and bonus categories to earn you extra points.

Keep in mind that even if you go the above route, you could get a Capital One Spark Miles Select for Business card and use it for purchases where you’d only earn 1 point/mile from your other credit cards. You can use your other cards for their bonus categories. Your Capital One card for its higher base rate on everything else, giving you the best of both worlds.


Wasted Credit Card Points – 9 Examples of Wasted Points

Nine Ways to Avoid Wasted Credit Card Points

Wasted Credit Card Points Nine Ways Americans Waste Their Credit Card Points

You work hard to earn your rewards points. They’re yours, and the last thing you want is wasted credit card points each year. However, this happens far more frequently than you know to thousands of people each year. You may even be wasting credit card points without knowing you’re doing it! If you’re worried about wasted credit card points, our list will help you avoid the most common ones.

9 Ways to Avoid Wasted Credit Card Points

1. Assuming Conversion Ratios are the Same

You convert your rewards points into dollars, and you can redeem them at various stores. However, wasted credit card points occur when cardholders assume every store has the same conversion ratio. This isn’t true and assuming can make you pay more for the same gift card at different locations. For example, one store may take 2,500 points to make a $25 gift card. Another store could take 3,500 points for the same $25 gift card. If you didn’t shop around you’d be wasting credit card reward points.

2. You Overpay for Your Points or Miles

Your credit card may give you points you can convert into miles. If they do, you have to make sure you’re getting the best deal. For example, people with the American Express card could have 100,000 points. They can redeem these points for cash or miles for free travel. Many people would be tempted to take the cash because it looks like a better deal. These 100,000 points convert into around $1,000 in cash you can put toward a flight. But, if you redeem them for in a frequent flyer program, you could get up to 100,000 miles. This equals out to a $5,000 first class ticket.

3. You Don’t Qualify for the Sign-Up Bonus

Earning rewards points can be hard, and it can take a while to amass a decent amount. Many credit cards offer a signup bonus and not qualifying for it counts as wasted credit card points. Typically, you’ll spend x amount in three months to get the point bonus. This can range from the low hundreds to thousands. Don’t buy additional things to hit the signup bonus, but use your card for everyday purchases instead.

4. You Use Your Points on Merchandise

Merchandise usually has a low point-to-value ratio. This means that you’ll spend a lot of points for a little reward. If you don’t care about wasting credit card points, this isn’t a big deal. You’ll get your item with your points. But if you do care, you’ll want to look at other options. Things like airline miles, travel discount opportunities, or gift cards are good ideas. You generally get more points per value with these types of redemption choices.

5. Your Card Doesn’t Suit Your Lifestyle

If you use your credit card for travel, make sure it matches up with your needs. Say you have an airline credit card and you’re getting a lot of points. These points are only good if they’ll get you where you want to go. Say you travel to Europe a lot on one airline. However, the airline you’re earning points from doesn’t offer a lot of Europe flights. This adds up to wasted credit card points because you’re missing opportunities with other airlines.

6. You Make Routine Late Payments

If you make several late payments, you could miss out on rewards points. Today, many reward credit cards withhold points for late payments. While missing a payment once in a while isn’t terrible, consistent late payments can hurt. You won’t be able to get the most out of your rewards card point system. The cardholder may also add late fees or raise your APR in response to your late payments. So you stand to lose a lot of money for simple mistakes.

7. Your Rewards Expire

Many credit card companies offer unlimited rewards that never expire. Other credit card companies have yearly, or every 36-month expiration dates on their rewards. Wasted credit card points occur when you don’t pay attention to expiration dates. If you were saving up for a large purchase, but your credit card rewards expire, you’ll lose all of them. It’s best to double check your terms and conditions and find out exactly when your rewards expire. This way, you can cash them out how you see fit before you lose them.

8. You Don’t Take Advantage of Higher Point Categories

Your credit card may offer higher rewards options in rotating categories. If you don’t take advantage of them, you’re wasting credit card points. You could get two or three times the normal cash back rewards for things like grocery stores or gas purchases. Failing to make your card work for you is a trap a lot of cardholders fall in. So check which categories have higher reward rates and use your card there.

9. You Don’t Understand Your Reward Points

People get frustrated when something isn’t straightforward. Redeeming your credit card points can be complicated at first. This can lead people to ignore their rewards and wasted credit card points. If it’s possible, set your rewards up as a statement credit. You can even set an amount, and it’ll automatically redeem when it hits this amount. You won’t have to think about it, and it’s not too complicated to do.

Bottom Line on Wasted Credit Card Points

These nine things can easily lead to wasted credit card points. As a rewards card holder, you want to get the most out of your card. To ensure you do, check that you’re not falling victim to these easy mistakes. You’ll be able to maximize your rewards and make your credit card work for you.


Opensky Secured Visa Credit Card Review 2018

No bank account is needed with the Opensky Secured Visa credit card.

OpenSky® Secured Visa® Credit Card Review 2018

Any with bad or no credit that wants to build their credit should look into the OpenSky Secured Visa credit card. Originally designed and targeted toward people who wanted to rebuild their bad credit, this card is very popular. It remains popular today, and it has several pros and cons associated with it. If you’re trying to rebuild your credit, read on. We’ve compiled a review of the Open Sky Visa so you can decide if this card is a good fit for you.

OpenSky Secured Visa Credit Card Pros and Benefits

1. No Bank Account Needed to Open an Opensky Secured Visa Credit Card

Many credit cards require a banking account when you sign up. This can add additional steps to the application process, and complicate it. However, the Open Sky credit card doesn’t require a bank account. This is a secured credit card, and this means that you send the lender a deposit. This deposit becomes your line of credit. It stays in the account until you close it. If you’ve demonstrated responsible use, you’ll get your deposit back. You can fund your initial deposit by debit card, wire transfer, Western Union, or by mail with a money order.

2. Flexibility to Choose the Initial Deposit Amount

Since it’s your money that funds your Open Sky secured credit card, you pick your deposit amount. The lowest amount you can choose is $200, and it goes up to $3,000. This is great if you don’t have a lot of extra money, but you want to build your account. Simply choose one of the four ways to send in your deposit, and you’re ready to go. If you choose a debit card, you’ll get an instant application process. Mailing your funds could take up to five days.

3. No Hard Credit Check

If you have poor or no credit, a hard credit check can really hurt. However, the OpenSky Secured Visa credit card believes that everyone should have a chance to build credit. You won’t have a hard credit check when you apply for this card. You’ll simply pay your deposit and start using your card as you see fit. You don’t need a credit history, just a stable job.

4. Generous Grace Period

Not only do you get a credit card grace period to pay your bill, but it’s a generous one. With the Open Sky Visa, you get a 25 day grace period. This means that if life gets in the way and you need more time to pay your bill, you have it. There won’t be a penalty until after you go over this grace period. This is great for anyone who’s learning how to manage their finances.

5. Optional Credit Education

The Open Sky credit card gives cardholders credit education information. All you have to do is go to your OpenSky page and click Resources. This will take you to their help page which gives free credit building advice. You can find out how to request copies of your credit history, how to use your card to build credit, and more. It gives you the tools you need to understand why building your credit is a good idea. You also get debt managing strategies.

6. OpenSky Secured Visa Credit Card Reports to the Three Major Credit Bureaus

Building your credit is only good if all three major credit card bureaus get it. OpenSky reports to Equifax, Experian, and TransUnion. These are largely considered to be the main credit companies. OpenSky will report to them each month, and this increases your credit history. Also, using your credit card responsibly and paying the balance off each month will show dependability. This can make lenders more willing to work with you when you ask for a loan or an unsecured credit card.

OpenSky Secured Visa Credit Card Cons and Drawbacks

1. Annual Fee

Even though this is a secured credit card, you’ll pay an annual fee. This fee will appear on your first statement of the new billing year. Currently, you’ll pay $35 per year to use this card. While this isn’t extremely high if you don’t use the card a lot you’d have a hard time justifying it.

2. Inactive Card Fee

This is the one fee you want to avoid at all costs with the OpenSky Secured Visa credit card. If you don’t use your card for 12 consecutive months, it’ll start charging $10 per month. This is your first inactive card fee. It’ll keep adding another $10 on per month until you use your card. Also, there’s a dormant account fee of $10 per month after 36 months of no activity. So, if you pick up your card after 24 months of no use, you’ll be in the hole $120.

3. Penalty APR

While you do have a grace period to pay your balance, it only lasts 25 days. After this 25 days, if you haven’t paid your balance, your APR will rise. The APR is 18.39%, but the penalty APR is 22.50%. If you avoid carrying a balance, this isn’t a big deal. But if you do, the additional 4.11% interest fees can quickly add up. Also, you’ll have to work to get your original interest rate back. You have to pay six consecutive on-time payments to get the regular interest rate back. If you miss one, it starts over with a new six months.

4. Additional Fee to Increase Your Credit Limit

Say you want to raise your initial credit limit a few months after you open the card. The OpenSky Secured Visa credit card will allow you to do this. But, you’ll pay the price for increasing your rate. In addition to the additional deposit money, you’ll pay between $25 to $35 for processing fees. The lender adds this in each time you want to increase your spending limit.

5. OpenSky Secured Visa Credit Card Has no Unsecured Card Options

Once you’re satisfied with your credit score, you can move to an unsecured card. Unfortunately, the Open Sky secured credit card is it. OpenSky doesn’t have an unsecured credit card available. This means that you’ll have to compare other credit card companies that offer bad credit card applications. It also means you have to be very careful and read any new company’s terms and conditions. These vary from company to company, and it’s a fast way to wreck your credit.

People Who Would Benefit From an OpenSky Secured Visa Credit Card

If your credit score is around 620 and below, this card could be a good idea. If you’re just starting out, it’s excellent to build credit. Anyone who needs to rebuild credit after bankruptcy could benefit from this card. The fact that the lender makes it so easy to get the card opens the door for a lot of people. Choosing your initial deposit is nice too because it caters to people who don’t have a lot of extra money.

People Who the OpenSky Secured Visa Credit Card Would Hinder

If you have a higher credit score, avoid this card. If you know how to manage your finances and can get other cards, avoid this card. It won’t do a lot for you in terms of raising your score. An unsecured card with responsible use will be a lot more beneficial to helping your maintain your score. So if you have average credit you should look at credit card applications for fair credit.

Bottom Line OpenSky® Secured Visa® Credit Card Review 2018

When you use it responsibly, the OpenSky Secured Visa credit card is a powerful credit-building tool. It’s an excellent way to help you learn to manage your finances. It also gives you less room for error because there’s a very restricted spending limit. If you have low or no credit, it’s a good idea to consider the Open Sky Visa seriously. You’ll build your credit, and learn about credit cards at the same time.

OpenSky® Secured Visa® Credit Card

Opensky Secured Visa Credit Card art image graphic


U.S. Bank Cash+ Visa Signature card Review

Earn Cash back with the U.S. Bank Cash+ Visa Signature card in special categories.

U.S. Bank Cash+ Visa Signature Card Review

People who like cash back or travel rewards should try the U.S. Bank Cash+ Visa Signature card. It comes with several perks that give the US Bank credit card a lot of flexibility. This is a huge perk for any cardholders or potential cardholders. There are several other notable perks as well. However, this card also has downsides, and you have to know about them as well.

U.S. Bank Cash+ Visa Signature Card Pros

US Bank Credit Card With No Annual Fee

As the US Bank Visa is a travel and a rewards card, the no annual fee is huge. You’ll pay nothing each year for using this card. You can use it as little or as much as you want without having to justify it. Any rewards you earn are yours to keep. You also get a very good rewards rate with this card.

U.S. Bank Cash+ Visa Signature Card Sign Up Bonus

The U.S. Bank Cash+ Visa Signature card has a very reachable credit card sign-up bonus as well. You’ll get a $150 statement credit for spending $500 in three months. This works out to spending around $166 per month. Your sign up bonus will appear as a statement credit. So this is very reasonable for a rewards credit card.

Choose Your Quarterly Bonus Categories

The U.S. Bank Cash+ Visa Signature card allows cardholders to choose their bonus categories. You can switch these out every three months as well. This is a unique perk that allows you to plan for larger purchases. You’ll also know exactly what you get bonuses on each quarter, and this is important. It can be difficult to keep track of rotating rewards categories unless you choose them yourself.

US bank Visa Offers Unlimited Large Cash Back Earning

The US Bank credit card comes with unlimited cash back potential. You can stack your rewards for a certain period before you have to use them. So, if you use the card a lot, you’ll earn quickly. Also, you get 5% cash back on the first $2,000 in your chosen categories. When you combine all of this, you have huge earning potential.

Several Rewards Categories

You get 2% cash back at gas stations, restaurants, and grocery stores. These three categories stay the same all year-round. However, you get your choice of 5% cash back on rotating categories. Choose from gyms, cell phones, bookstores, electronics, clothing, furniture, car rentals, charity, movie theaters, or fast food. If you spend outside of these categories, you get 1% cash back.

No Minimum Redemption Amount

There are no minimum rewards amounts you have to hit before you redeem. Earn as little or as much as you want and redeem them when you want to. You can have them deposited into your checking or savings, or as a statement credit.

Visa Signature Benefits

The U.S. Bank Cash+ Visa Signature card gives you access to the Visa Signature Benefits program. You get 24/7 concierge assistance for help booking hotels or travel. You also get complimentary upgrades to travel, resort upgrades, and cruise line upgrades. Finally, you’ll get specials on movie tickets, dining and wine experiences, and shopping discounts.

Introductory APR

For balance transfers, you get a 12 month introductory APR. As long as you transfer your balances within 60 days, you’ll get this offer. You’ll pay 0% APR on any balances you transfer for 12 months. As long as you can pay your balances off, this can save you a lot of money.

U.S. Bank Cash+ Visa Signature Card Cons

Have to Remember to Choose New Rewards Categories
It’s your responsibility as a cardholder to remember to choose new rewards categories each quarter. If you don’t remember each quarter, your rewards rate will fall. Instead of getting 5% cash back, you’ll get 1% cash back. This amount is one of the lowest amounts of any rewards cards.

Foreign Transaction Fee

As the U.S. Bank Cash+ Visa Signature card can be considered a travel card, a foreign transaction fee is bad. If you travel and use this card, you’ll pay 3% each time you use it through a non-US bank. This can add up quickly, and you get no say in it. It’ll also appear on your statement if you purchase something internationally.

Rewards Expire

While you can earn unlimited rewards, these credit card rewards expire. You have to redeem your rewards at least once every 36 months. If you don’t, they’ll expire, and you’ll lose them. This can be bad if you stacked them and you lost a lot of rewards. So, it is important to redeem your rewards on a regular basis.

High APR

This is a reward credit card, so you expect a slightly higher APR. However, it’s variable. It also depends on what your credit score is when you apply for the card. The APR ranges from 15.24% to 24.24%. If you have a lower credit score and carry a balance, you could end up paying for it.

Can’t Transfer Rewards

Once you earn your rewards, you can’t transfer them to another program. This is slightly restrictive, especially if you routinely earn a decent amount. You redeem them for straight cash back and nothing else. If you were looking for a card where you can combine rewards programs, this isn’t the card for you.

Rewards Rate Caps Each Quarter

You have a capped rate of $2,000 per quarter for the 5% cash back. It drops down after this. If you’re planning on purchasing furniture or large items, you’ll meet his cap quickly. It starts over each quarter, but it’s still very easy to meet it with more expensive items.

U.S. Bank Cash+ Visa Signature® Card Bottom Line

The U.S. Bank Cash+ Visa Signature card is great for people who like flexibility. It’s a solid rewards card with several perks for cardholders to enjoy. However, it also has restrictions that can cost you if you travel like the foreign transaction fee. Overall, this is a good rewards card, and it is worth considering.


Discover Credit Card Benefits Ending in 2018

What Discover credit card benefits end in 2018?

The Five Discover Credit Card Benefits Ending in 2018

Discover credit card benefits are a huge perk for many cardholders that draw them to this card. However, this is changing starting on February 28, 2018. Discover is slated to cut five cardholder benefits across all Discover cards. These cuts will roll out at various times over 2018, and it may make some cardholders reevaluate their card choices.

According to Discover, they’re only cutting the Discover credit card benefits that cardholders rarely use. If you’re not sure what Discover benefits cut is coming, this article is for you. Read on to find out exactly which benefits Discover plans to cut, and when they plan to cut them.

First Discover Cardholder Benefit: Extended Product Warranty

One of the first Discover credit card benefits they’re doing away with is the extended product guarantee. This guarantee extended the product’s original warranty by up to one year if it was less than 36 months long. It was also completely free, and it gave people peace of mind that wanted to purchase large items.

However, when Discover trims this benefit, you’ll only have the original warranty to fall back on. This can make some people more hesitant to buy more expensive items. It can also make a few people reconsider using a different credit card for big-ticket purchases.

  • Date Discover Ends Extended Warranty Benefit: February 28th, 2018

Second Discover Cardholder Benefit: Flight Accident Coverage

Discover card benefits include flight accident coverage. This covers you in the event that you’re hurt on a plane when you travel. It also covers dismemberment and death while you’re on the plane. This free service from Discover could entitle either you or your family to compensation.

This coverage caps at $500,000, and it kicked in as soon as you purchased a ticket with your Discover card. However, due to the low use volume among cardholders, it didn’t make the Discover benefits cut. This means that once this benefit is gone, you won’t be entitled to flight accident coverage during your travels.

  • Date Discover Ends Flight Accident Coverage Benefit: February 28th, 2018

Third Discover Cardholder Benefit: Return Guarantee

Many stores implemented a ‘no receipt, no return’ policy to minimize their losses. However, Discover credit card benefits changed that. If you purchased an item and you weren’t satisfied, they’d help. Buy an item and report to Discover within 90 days that the store refused to take it back. Discover will then refund you for the item.

This benefit did cap at $500 per item and $2,500 per year. But, it was a very nice free benefit. Especially if you’re prone to losing your receipts and buying more expensive items. Unfortunately, the Discover return guarantee didn’t make the cut. This is one of the Discover credit card benefits that ends this year. You’ll have to keep better track of your receipts or accept the item, even if you’re not happy with it.

  • Date Discover Ends Return Guarantee Benefit: May 29th, 2018

Fourth Discover Cardholder Benefit: Auto Rental Insurance

Discover credit card benefits extend to auto rental insurance. As far as Discover credit card benefits go, this one was huge. It saved cardholders from all of the extra fees for an accident when they traveled. Typically, this auto insurance included theft and collision damage, and it billed secondary.

For many Discover cardholders, this free service potentially saved a lot of money. However, Discover decided that it is an underutilized service, so they plan to end this benefit across their cards. This means that cardholders will pick up any miscellaneous fees or things their insurance doesn’t cover out of pocket.

  • Date Discover Ends Auto Rental Insurance Benefit: May 29th, 2018

Fifth Discover Cardholder Benefit: Purchase Protection

The final item on the Discover benefits cut list is purchase protection. This service protects cardholders from lost or damaged items they purchased with their Discover card. All a cardholder had to do was buy an item with their Discover card. If the item was lost or damaged and they reported it within 90 days, Discover would cover it.

This particular cardholder perk comes with a $500 cap per item. But, it also gave cardholders peace of mind if they bought more expensive items. Discover named it as one of the more underutilized benefits it has this year. It plans to cut it, so cardholders can no longer rely on it as a safety net.

  • Date Discover Ends Purchase Protection Benefit: July 13th, 2018

What are Your Options as a Discover Cardholder?

As a Discover cardholder, these cuts may send you looking for other cards. There are several other credit cards available that offer similar cardholder perks.

The Chase Freedom® Credit Card offers zero liability protection, purchase protection, and extended warranty protection. Cardholders will get a one-year extension on their product’s warranties if they’re less than three years. You also get 120 days to report a damaged or stolen item. Chase will refund you up to $500 per item, and it caps at $50,000 per account.

A good choice for a travel card is the Amex Blue EveryDay® Credit Card. Cardholders will get roadside assistance, global assist hotline access, dispute resolution, and entertainment access. There is also no annual fee and multiple rewards opportunities for Amex’s cardholders.

Bottom Line In Dealing With Discover Credit Card Benefits Ending

The Discover benefits cut rolling out in 2018 doesn’t have to be a bad thing. If you’ve never used these options, you don’t have a lot to worry about. If you do, you may want to consider looking around for another card. It is important that you do your research and make sure any new card is a good fit for your lifestyle. We suggested two good alternatives that you may want to consider that rival the Discover credit card benefits.


Bank of America Spirit Mastercard Review

The Spirit Airlines World Mastercard earns airline rewards fast just by the signup bonus the Bank of America Spirit Mastercard offers.

Bank of America Spirit Mastercard Review

The Bank of America Spirit Mastercard is a solid option for people who like to travel. Several benefits come with having this card. However, there are also drawbacks. You’ll need to know them all to be well informed and decide if this card is for you.

We’re going to go over the biggest pros and cons to using the Bank of America Spirit Mastercard. This way, you can decide if the benefits outweigh the risks or not. While this card is a good fit for a lot of people, some people can find a better travel card.

Bank of America Spirit Mastercard Benefits

Double Mile Rewards

When you use this credit card for everyday purchases, Spirit Airlines will reward you. For every $1 you spend, you’ll get 2 miles. This is on anything you buy, and there are no rotating categories. So, even if you don’t use your card that much, you still have the potential to earn decent miles.

Introductory Bonus

The Spirit Airlines credit card gives cardholders a welcome bonus as well. Just for making an initial purchase, you’ll get 15,000 bonus miles. This means you can potentially get three round-trip flights off of this alone. During off-peak times going one way, rates start at 2,500 miles. This is a huge perk for people who know how to utilize airline reward miles correctly.

Anniversary Bonus

Spend $10,000 per year with the Spirit credit card and get an anniversary bonus. Cardholders who do spend this amount get 5,000 additional miles on their anniversary date. This works out to around $830 per month to get this anniversary bonus. Combine this with the rewards rate and the introductory bonus, and you have a lot of miles. This makes the Spirit Mastercard a great performing reward credit card helping people to earn free travel fast.

Preferred Boarding

Use the Spirit Mastercard to travel and get preferred boarding. This can streamline your airport experience, and remove a lot of the headache. You’ll also get priority check-in on domestic flights as well. There are also no blackout dates, so you can use your miles when it’s convenient for you.

Earn Unlimited Rewards With the Bank of America Spirit Mastercard

Your Bank of America Spirit Mastercard rewards never expire. As long as you have your account in good standing, you can stack your rewards. Additionally, you have to make at least one purchase a month to qualify as ‘active.’ However, if you do this, you can stack your rewards indefinitely to maximize them. To make things easier you can attach automatic billing on a reoccurring bill such as with Netflix. This way you’ll never need to remember to keep your Spirit credit card account active.

Free Spirit Dining Rewards

Qualifying for the Spirit Mastercard will give you access to the FREE SPIRIT® Dining rewards program. If you dine out at select Spirit approved restaurants, you’ll get bonus rewards. For every dollar you spend at these restaurants, you’ll get 5 miles. Combine this with everything else, and you have huge reward potential.

Annual Fee Waived

This card does have an annual fee, but Spirit waives it during the first year. This allows you to enjoy all of the perks you get with this card without worrying about the fee. For the first year, you can use your card as little or as much as you want. You won’t have to balance the rewards with the annual fee.

Credit Score Monitoring

If you’re worried about your credit score, the Spirit Airlines credit card can help. You’ll get free access to your FICO credit score. This allows you to monitor your score and catch any potential issues quickly. In turn, you’ll be able to negate the damage identity theft can do to your score quickly and efficiently.

Bank of America Spirit Mastercard Drawbacks

Foreign Transaction Fee

Although the Spirit credit card does give you miles, it has a huge drawback for a travel card. It charges a foreign transaction fee. This fee is 3%, and it’ll charge each time you use a non-US bank or ATM. So, if you travel and use your card to purchase $5,000 worth of merchandise, you’ll get a $150 fee. This is just for using your credit card abroad, and you’ll pay 3% each time you use it.

Higher APR

Your APR will depend on your credit score at the time you submit your application. If you have excellent credit, your APR will fall around 14.24%. If you have lower credit, your APR will fall around 24.24%. So for anyone who carries a balance, this can add up very quickly.

Annual Fee

This card does come with an annual fee after the first year. You’ll pay $59 each year after the first year. This annual fee will appear on your first statement of the billing cycle each year. However, the Bank of America Spirit Mastercard does have a lower fee for an airline rewards card. Therefore depending on your circumstances, this annual fee may be worth paying for the benefits this airline credit card offers.

No Introductory APR

The Bank of America Spirit Mastercard also doesn’t have an introductory APR. This means that you’ll pay interest on your purchases from the first month you have the card. If you don’t carry a balance, this won’t be a big problem. However, if you do carry a balance, this interest rate can get you in trouble. Especially if you have lower credit and a high APR.

Balance Transfer Fee

This also isn’t the card for you if you want to do balance transfers. There is no introductory offer for balance transfers or interest. So, you’ll pay interest straight away. Additionally, you’ll pay a 3% balance transfer fee on each balance transfer you do. When you combine this with the interest rate, you’ll end up paying much more than you originally would. So it would be a balance transfer mistake to use this card to transfer your high credit card balances.

Is the Spirit Airlines™ World Mastercard® a Good Airline Credit Card?

The Bank of America Spirit Mastercard is a great card for frequent travelers. You may want an additional card to make purchases while you travel due to the foreign transaction fee. However, the multiple miles earning opportunities and the unlimited rewards are huge draws. The Spirit Airlines™ World Mastercard® is a good card because it allows you to easily earn free flights. Spirit Airlines allows you to fly for less, and you can fly when you want to with no blackout dates.


Buy Now Pay Later Credit Card Promotions Profits & Pitfalls

Learn how to use buy now pay later credit cards to get deferred billing.

Buy Now Pay Later Credit Card Promotions Profits and Pitfalls

If you shop around the holidays, chances are you’ve heard about buy now pay later offers. Many stores offer deferred interest on their credit card promotions to entice new customers. If you’re careful and you know how to budget, this can work in your favor. If you’ve never heard of a buy now pay later credit card promotion, this is for you.

We’ll walk you through what deferred interest means, benefits, and pitfalls that come with shop now pay later promotions. This way, if you choose to utilize the buy now pay later system, you’ll know exactly what you’re getting.

What is Deferred Interest?

Deferred interest is where a retail card lender will offer you a card that enables you to shop now pay later. You buy your items and don’t worry about paying right away. You won’t pay any additional interest charges if you pay it off by the end of the promotional period. However, if you don’t pay it off, you’ll get a retroactive interest rate added. Many people make the mistake of not knowing them when they sign up for these offers.

Buy Now Pay Later Profits

Profit One

The most obvious benefit is that you can purchase things now and pay them off over a few months. This is especially nice around the holidays or if you’re planning a large purchase. You don’t have to worry about coming up with the money upfront. You can easily work your monthly payment amount out by dividing your purchase price by the number of promotional months.

Profit Two

As these usually come in the form of retail store cards, the stores may give you a deal. It isn’t usual for a retailer to give you a percentage off your purchase when you use store credit. This can add up to even more savings, especially if you pay it off before the promotion ends. Be sure to ask your retailer about any possible additional deals they may have when you pay with in-store credit.

Profit Three

Retail cards tend to have less rigid credit requirements. This means that you can use them to build your credit with responsible use. You’re more likely to secure a retail card than you will many regular credit cards. Pay your balance in full and don’t miss any payments. It reports to the credit bureaus, and this can boost your credit. Many people use the Shopping Cart Trick to acquire store credit cards easily.

Profit Four

When you sign up for a retail card, you’ll usually add your email to the newsletter list. This is an excellent way to learn about additional sales or promotional offers the store may have. Also, many retailers send coupon codes through email, and you’ll be able to get these as well.

Profit Five

It’s an excellent help in certain emergency situations. Say your refrigerator suddenly quits working. Do you have enough money to replace it right away? If you’re like the majority of people, the answer is most likely no. With buy now pay later, you can afford a new refrigerator and pay it off in convenient payments.

Buy Now Pay Later Pitfalls

Pitfall One

One of the biggest pitfalls with buy now pay later offers is that customers don’t understand what it means. Many of these shop now pay later credit card promotions come with retroactive interest. This means that if you don’t pay off your balance by the end of the promotion, you’ll pay interest. This interest will backdate to the first month of the promotion, and you’ll get it all at once. Say you purchased a $500 item for 12 months. By the end of the promotional period, you’ve paid $498. You’ll be responsible for all of the interest payments back to the first month.

Pitfall Two

It’s also very easy to rack up an amount of unmanageable debt. Almost every big retailer has their own credit card promotion that they advertise. If you get multiple cards from multiple retailers, you can quickly dig yourself into a hole. You may not realize how deep of a hole you’re in until it’s too late.

Pitfall Three

These cards also usually come with high-interest rates around 24.8%. Depending on your credit, this could be almost double what you have with a normal credit card. If you don’t carry a balance from month to month, it won’t be a problem. However, it can stack up very quickly if you do carry a balance. So, it’s a good idea to know exactly what the interest rate is. This will help answer the question should you have a store retail credit card.

Who Should Buy Now Pay Later With Credit Card Promotions Benefits?

These offers do come with pitfalls, but as long as you know about them, they can be worth it. People who come up short over the holidays can benefit from these offers. People who want to build their credit can also benefit. The key to these offers is using them responsibly. You also want to read through everything carefully to make sure you understand what you’re getting.


HSBC Cash Rewards MasterCard Credit Card Review

Review the benefits of the HSBC Cash Rewards MasterCard Credit Card.

HSBC Cash Rewards MasterCard Credit Card Review with Pros and Cons

Anyone who spends money in a variety of categories knows how frustrating rotating rewards can be. You have to try to match your spending to certain categories to maximize your rewards. This can be a headache, but we have a solution for you. The HSBC Cash Rewards MasterCard Credit Card is a flat rate rewards card. Just think, you can spend your money how you want and earn decent rewards. However, this card does have drawbacks like any card, and you deserve to know about them as well.

HSBC Cash Rewards MasterCard Credit Card Pros

1. Flat Rewards Rate

There’s no more keeping track of rotating rewards categories with the HSBC credit card. You get 1.5% cash back on every single purchase you make. These rewards are unlimited as well. So, if you shop and use your HSBC MasterCard a lot, you stand to earn big. This is a great perk for a steady rewards card.

2. Introductory Bonus Offer

As well as unlimited rewards, cardholders with the HSBC Cash Rewards MasterCard Credit Card get a sign-up bonus offer. It’s very reachable as well. If you spend $500 in the first 3 months, you’ll get a $150 cash rewards offer. This breaks down to spending just $167 per month. So if you have a family, you know you can easily spend that much on one grocery store trip.

3. No Annual Fee

It’s more difficult to find a rewards card without an annual fee. However, this is exactly what you get with the HSBC Cash Rewards MasterCard Credit Card. You’ll pay a $0 annual fee for as long as you have the card. This means that you can use your card as little or as much as you want with no guilt. Any rewards you earn with the HSBC credit card are yours to keep, and they’re money in your pocket.

4. Anniversary Bonus

The HSBC MasterCard gives its loyal cardholders an anniversary bonus every year just for having the card in good standing. Loyal cardholders will get a 10% bonus on any cash rewards you’ve accumulated over the year. So, if you’ve earned $1,000 in cash rewards, you’d get a $100 anniversary bonus.

5. No Foreign Transaction Fee

If you plan to travel and want a rewards card, look to the HSBC MasterCard. It’ll allow you to use your card anywhere in the world with a $0 foreign transaction fee. This fee is normally added to your balance when you make a transaction through a non-US Bank. It typically ranges from 3% to 4% of your purchase, and it’s for every transaction. So, if you travel a lot, this is a huge perk.

6. Introductory Offer

For the first 15 months, you have the HSBC credit card; you’ll pay a 0% APR. This includes balance transfers as well. So you can transfer a larger balance from a high-interest credit card to this card and pay it off. As long as you pay it within 15 months, you won’t pay any additional interest. This is a great tool to help you get out of debt.

7. Shopping Perks

When you use this card to shop, you get several shopping perks. You’ll get extended warranties on certain products if the factory warranty is short. You’ll also get purchase protection and identity theft resolution. All of these things will help you protect your credit score in the event of fraudulent purchases.

8. Travel Perks

The HSBC MasterCard also covers you when you travel. Cardholders get access to things like $1 million in travel accident insurance and MasterAssist. You also get access to Master RoadAssist Roadside Services. So, should your car break down while you’re traveling, you’ll have a way for someone to help you.

HSBC Cash Rewards MasterCard Credit Card Cons

1. Higher APR

Although the introductory offer is nice, when it ends you’ll pay a higher APR. The APR is variable, and it ranges from 14.24% to 24.24%. Your APR will depend on your credit score at the time of your application. Good credit will get you closer to the 24.24% while excellent credit will get you toward 14.23%. If you don’t carry a balance from month to month, this won’t be a problem. But if you do, it adds up quickly.

2. Harder to Get Approval

The HSBC Cash Rewards MasterCard Credit Card caters to people with higher credit FICO scores. Generally, you may get approved for a credit score of 660. However, you ideally want to be in the low 700s and up to ensure you can get this card. This shuts out a lot of potential applicants and makes it harder to get approval.

3. Lower Rewards Rate

You get a flat rewards rate for this card, and it’s on the lower end. There are rewards cards that offer as much as 5% cash back in certain categories. The average rewards rate is 3%, and this is double what you’ll get with this card. So this can make it take longer for you to get a decent amount of rewards cash back.

4. Higher Balance Transfer Fee

You do get 15 months of 0% balance transfer fees with the HSBC credit card. But once this is over, you’ll pay more than many cards. The standard balance transfer fee is typically 3%, but the HSBC Cash Rewards MasterCard Credit Card is 4%. It also has a minimum fee of $10, and it takes whichever one is greater.

Bottom Line on the HSBC Cash Rewards Mastercard® Credit Card

Finally, the HSBC Cash Rewards MasterCard Credit Card is a solid rewards card for people with excellent credit. The introductory offer, anniversary bonus, and the signup bonus are excellent perks for cardholders. You can earn unlimited rewards no matter where you use your card, and you can travel as well. All of these things make this card an excellent rewards card.