Reward Credit Cards





Reward(continued)

Chase Ultimate Cash Award MasterCard®

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  • Earn Up To 5% Cash Back On Purchases At Supermarkets, Gas Stations, Drugstores And Home-Improvement Stores
  • Earn Up To 2% On Other Purchases
  • No Limit To The Amount of Cash That Can Be Earned
  • 0% Intro APR On Balance Transfers For Up To Nine Months
Apply for Chase Ultimate Cash Award MasterCard® More detail on  Chase-Ultimate-Cash-Award-MasterCard
Intro APR Intro Period Annual Fee Setup Fee APR
0% 9 months None $0 13.49% Variable

Chase CashBuilder Platinum Visa® MasterCard®

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  • Up To 2% Cash Rewards On Purchases When Your Monthly Balance Is More Than $500
  • Up To 1% Cash Rewards On Purchases When Your Monthly Balance Is Less Than $500
  • 0% Intro APR On Balance Transfers
  • No Annual Fee
Apply for Chase CashBuilder Platinum Visa® MasterCard® More detail on  Chase-CashBuilder-Platinum-Visa-MasterCard
Intro APR Intro Period Annual Fee Setup Fee APR
0% 12 months None $0 10.49% Variable

Miles Card from Discover® Card

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  • 5,000 Bonus Miles With First Purchase
  • 0% Intro APR On Balance Transfers For 12 Months
  • Earn 1 Mile For Every $1 Spent
  • No Blackout Dates With Air Travel Rewards
Apply for Miles Card from Discover® Card More detail on  Miles-Card-from-Discover-Card
Intro APR Intro Period Annual Fee Setup Fee APR
0% None $29 $0 None

Chase Travel Rewards® Platinum MasterCard®

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  • Earn 1 Point For Every $1 Spent
  • No Annual Fee
  • 0% Intro APR On Balance Transfers For Up To Twelve Months
  • Points Can Be Redeemed For Air Travel, Hotel Stays, Auto Rentals, Cruises And More
Apply for Chase Travel Rewards® Platinum MasterCard® More detail on  Chase-Travel-Rewards-Platinum-MasterCard
Intro APR Intro Period Annual Fee Setup Fee APR
0% 12 months None $0 10.49% Variable

Universal Entertainment Platinum MasterCard® from Chase

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  • 0% Intro APR
  • Earn 1 Reward Point For Every Dollar Spent
  • Redeem Points For Free Movies, Park Tickets, And Music
  • No Annual Fee
Apply for Universal Entertainment Platinum MasterCard® from Chase More detail on  Universal-Entertainment-Platinum-MasterCard-from-Chase
Intro APR Intro Period Annual Fee Setup Fee APR
0% 9 months None $0 15.49% Variable

Profit from Chase MasterCard®

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  • 3% Cash Back On All Gas, Grocery Or Restaurant Purchases
  • Up To 1% Cash Back On All Other Purchases
  • The Cash Earned Will Be Automatically Credited Towards Future Purchases
  • Cardholder Can Change Categories At Any Time
Apply for Profit from Chase MasterCard® More detail on  Profit-from-Chase-MasterCard
Intro APR Intro Period Annual Fee Setup Fee APR
0% 9 months None $0 14.49% Variable

Chase Platinum Visa® MasterCard®

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  • 0% Intro APR On All Purchases And Balance Transfers For Six Months
  • No Annual Fee
  • Interest-Free Grace Period
  • Eligibility To Enroll In Chase Travel Rewards
Apply for Chase Platinum Visa® MasterCard® More detail on  Chase-Platinum-Visa-MasterCard
Intro APR Intro Period Annual Fee Setup Fee APR
0% 6 months None $0 12.49% Variable
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  (Continued) credit cards are now standard fare, and as many credit card innovations launched to win business, offering rewards has now become a cost of doing business.

Citibank is credited with launching the first reward credit card, the AT&T Universal Card. But rewards were not all it offered; there were no annual fees. That still applies today, along with 0% APR on balance transfers for 12 months, up to 30 minutes in free phone calls, and two free directory assistance enquiries each month. The card gives what the company calls "thank you" points: five per dollar spent at supermarkets, drug stores, gas stations and for certain AT&T consumer products, and one point for all other purchases.

Further inducements include insurance against loss or theft of cell phones and full coverage against unauthorized purchases made with the card.

Cash at year's end
Discover Card, on the theory that cash is king, followed by paying cash at the end of the year based on the total amount charged to their card.

Now, there are cards that offer as much as 5% cash back. You can even earn money toward the purchase of a new car. GM's MasterCard earns 5% toward the purchase of one of their vehicles, up to a maximum of $3,500. There's also 0% APR on transfers for "six billing cycles", after which the rate goes to 10.74%, 14.74%, or 16.74%, depending on creditworthiness.

Low interest rates attract people who carry credit balances month after month on their cards, but reward programs are attractive to those who pay off their balances each month and who are therefore not affected by interest rates.

Spending rewarded
One of the dangers with these cards is that they offer rewards for spending. Spend more and the rewards come faster, and some people may be tempted to spend larger amounts just because of this. This does not encourage good personal financial management.

Some rewards come in the form of points, and these points may be increased for shoppers at partner companies. Some banks put out catalogues of fine gifts, but look for the "dollar" value of these "gifts", and consider if you would buy them if you had to pay for them. In other words, do you really want what's offered?

Other cards offer points toward free hotel stays, airline flights, and – if you look hard enough – almost anything you can imagine.

Look at small print
Look at the small print to see if there are limits to the rewards (as with GM), fees for exceeding your credit limit or for being late with a payment. Also, check out the grace period – the time during which purchases do not accrue interest. Thirty days used to be the norm, but this period now averages 23 days, and some issuers have whittled that down to 20 days. Some even have no grace period at all.

One other thing to watch out for: Some rewards cards carry hefty annual fees. Compare these with cards from the same issuer, and decide whether you really want to pay for the privilege of being rewarded for your spending.

Lowest Fixed APR Rate: 5.50%

Lowest Variable ARR Rate: 8.49%

Total Credit Cards in Database: 102