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Credit card 101: Facts about credit cards

by trosbi

Created on: July 14, 2008

Credit Card Roundup:

Blue Cash from American Express
- Up to 5% cash back on supermarkets, gas stations and drugstores
- 0.00% Introductory APR for 6 months
- Easier to be approved
- No Annual Fee
- Unlimited cash rewards

Discover Card
- 5% cash back on travel, home, apparel, gas, restaurants, movies and more
- 1% cash back on all other purchases
- 5% to 20% Cashback Bonus at its exclusive online shopping site


- 0% APR until December 2008
- No Annual Fee

Chase Freedom Credit Card
- 3% Cash Back at Grocery Stores, Gas Stations, and Quick Service Restaurants.
- 1% Cash Back anywhere else.
- $50 Bonus Cash Back
- No Annual Fee

Discover Student Card
- Easier to be approved for if you don't have a long credit history.
- Up to 5% cash back
- 5% to 20% Cashback Bonus at its exclusive online shopping site
- 0% APR for 6 months
- No Annual Fee

Discover Open Road Card
- 5% Cashback on gas
- 5% to 20% Cashback Bonus at its exclusive online shopping site
- 1% unlimited Cashback Bonus
- No annual fee

Chase Business Cash Rewards Card
- Up to 5% cash back
- 0% Intro APR for up to 12 months
- No Annual Fee

Clear from American Express
- No Fees of any kind
- 0.00% intro APR up to 12 mos
- Automatic Rewards

Chase PerfectCard MasterCard
- 6% cash back on Gas for 90 days. 3% after 90 days
- 1% cash back
- 0% Intro APR for up to 6 months
- No Annual Fee

American Express Starwood
- $100 Credit Back + Extra $150 Credit when you spend $15K in 6 mos
- First year fee-free and only $45 thereafter.
- Preferred Rewards Gold Card
- $100 Credit Back
- No pre-set Spending Limit
- First year fee-free and only $125 thereafter.

Chase Free Cash Rewards(SM) Visa Card
- $25 Credit Back
- 1% cash back
- 0% APR for 6 mos.

Some hints to successfully money back using a credit card:
- always pay your credit card off each month
- make a budget so you know how much you can spend each month on your credit card
- put everything on your credit card to really get the maximum cash back
- if you are a student you can buy everyones books with your credit card - just make sure they give you cash for them.
- use the travel rewards. There are some great travel benefits on the American Express cards. You can even travel for free or almost free in most cases.
- some mortgage companies will allow you to pay your mortgage via credit card with no additional charge. Make sure and take advantage of this. It's a great way to get a ton of cash back over the year.

Learn more about this author, trosbi.
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