This credit card from American Express is a card that is very attractive if you have already established good credit. It has attractive interest rates if you qualify for them.
The introductory rate of zero percent is available for either six months or twelve months depending on which you qualify for (based on your credit rating and history). Once the introductory period has expired, the annual percentage rate will go up to 9.99% which is still a fairly good rate.
The rewards program for this card gives a cash rebate of 1% of all your purchases (check for what are eligible purchases) and the rebates are given back to you in the form of American Express shopping cards once you have spent a minimum of $2500. The shopping cards you receive do expire within a year of getting them though, so you can't save up and use them later.
There are no fees on this card and that is one of the biggest attractions. There is no annual fee, but there are no other fees either. You don't pay over limit fees if you accidentally charge a little over your credit limit. You don't pay late fees either. If you do pay late twice within a year, your interest rate will jump to an incredible 19.99% though, so you won't want to pay late even if you can get away with no late fee.
The Clear Credit Card from American Express has an exceptionally attractive introductory rate of 5.99% for balance transfers. If you are paying off high rate credit cards with balances, you should really consider moving that over to this card and saving some major interest. Balance transfers must be requested at the time you apply for this credit card though in order to get the introductory rate. As with many American Express cards, this one comes with the travel accident insurance, the purchase protection, return protection, extended warranty on your purchases and emergency card replacement if you lose it.
This is a very good credit card to have in your possession because of the good interest rates and especially if you carry a balance or if you plan on carrying a balance for some major purchases in the future. If you can use the 0% introductory rate to finance purchases and get them paid off before the rate goes back up to regular, you can really get an excellent deal. |
