I have a Chase PerfectCard and one thing I like about it is that it has a straight 1% cash rebate and it’s immediately credited to your next billing statement. There’s no need to wait until you accumulate up to $100 rebate.
This card sounds too good to be true. I wonder what the “catch” is. Then when I read this letter (see image below) they just sent to me and I realize their business strategy. I feel like I crack the code. There’s a part on the letter that states, “Reward dollars… will expire six months after the date they are earned.” Unlike other cash rebate cards that write you checks, the Chase Perfect card rebates must be applied as a credit to your future billing statement. Their master plan is to keep you using the card. You need a outstanding balance to take advantage of the rebates. Of course, the more you use it, the more business Chase gets. Ingenious business strategy! What a smart/slick way to keep cardholders charging the cards. And many people use the card for recurring bill payments anyway, so they will not be affected by the “catch.”
Here are the other credit cards, I currently have:
AT&T Universal Card – Great card. Used frequently.
- Straight 1% thereafter. Can claim check once rebate accumulates to $50. Best part: 5% rebate intro period for 6-months.
AMEX Blue Card – Great card. Used frequently.
- 1 point per dollar. Best part: Points do NOT expire.
Discover Card – Used occassionally.
- Rebates based on a tier system, have to work your way up to 1% rebate. Best part: Double rebate value with gift certificates.
Chase Amazon Card – Only used for Amazon.com purchases
- 1% on non-Amazon.com purchases. Best part: 3% rebate on Amazon.com purchases.