MyCardBlog

In today’s times magazine, I found that there is a promotion page about Discover More Card. I personally like the discover more card very much and would like to recommend it to everyone here. Not to mention there is a $100 sign up bonus on this card right now. You can earn 5% cash back on selected categories every 3 months. If you are looking for new credit cards, you should consider this discover more card.

The offer includes:

$100 cash back bonus when you make $500 in purchase on this card within 3 months of account opening.

5% cash back bonus in popular categories which will change every 3 months.

Plus you can still earn up to 1% cash back on all other purchases

There is no annual fee with this card.

0% APR on balance transfer until March 2010.

For apply, go to www.apply.Discovercard.com and use the invitation code: DBPD. Or you can call 800-206-4960 to apply for this card.

Please remember that you have to apply for this card before May 27, 2009.

A picture about this offer is attached here.

Here I want to make a detailed description of the cash back bonus offer from Discover Card.

Full 5% CashBack Bonus on category purchases throughout the year should by signing up for each program. You have to go to discovercard.com to sign up your credit card every 3 months to be eligible to get the 5% bonus.

After you spend more than $3000 on this card, you can start to earn 1% cash back on every purchases. For the first $1500, you can only get 0.25% cash back and 0.5% for the other $1500.

But if you redeem gift card at discover card rewards program, you can actually get more cash back. For example, you can get $25 gift card for $20 or $50 gift card for $40. It depends on which card you choose.

There are many great rewards credit card offers out there. If you ask me which credit cards are great for daily use, I would pick the American Express Blue Cash Card, Discover More Card and the new Pentagon Federal Credit Union Visa Platinum Rewards Card. Actually, this Pentagon Federal Credit Union Visa Platinum Credit Card is a great rewards credit card for most people with low interest rate.

There are two different types of rewards credit card to choose from: Visa Platinum Gas Cash Reward and Visa Platinum for Travel and Merchandise Rewards.

The Visa Platinum Gas Cash Rewards Card features (strongly suggested):

• Earn 2% cash back on supermarket purchases
• Earn 5.00% cash back from gas purchases paid at the pump
• Earn 1.25% cash back from all purchases you make with the card during each billing cycle
• Up to $50,000 limit
• No Annual Fee
• Cash Rewards credited each month
• No special restrictions to earn your cash rewards
• 5.99% fixed APR for the life of the transferred balance!

Visa Platinum for Travel and Merchandise Rewards features:

• No Annual Fee
• Up to $50,000 limit
• Earn one point for every dollar in purchases you make with the card
• Redeem points for travel and premium merchandise
• 1,000 free points just for opening the Visa Platinum Travel Rewards card.
• 5.99% fixed APR for the life of the transferred balance!

For both credit cards, you can get a low 13.00% APR for standard purchases.

There is also a student card available for college students with a pre-determined $500 limit. This student card features:

• Low 13.99% APR — compare this low rate to the higher, variable rates offered at other institutions
• Earn 5.00% cash back from gas purchases paid at the pump
• Earn 1.25% cash back from all purchases* you make with the card during each billing cycle
• Credit card in student’s name — student actually builds credit in his or her name while in school

Of course, if you want to apply for one of above mentioned credit cards, you have to be the member of the Pentagon Federal Credit Union first. Pentagon Federal is a financial services company which specializes in serving the military. It defines who can be a member of the credit union.

• Active or Retired from the U.S. Army,Air Force, Coast Guard, Reserves, National Guard, ROTC (Advanced Cadets)
• Members of the Veterans of Foreign Wars of the United States (VFW)
• Civilians employed by, or retired, Department of Defense, Homeland Security, Army, Air Force
• Pentagon Building employees
• Employees of the Transpotomac Plaza or Canal Center in Alexandria, VA
• Individuals who are assigned to, work at, or receive benefits from, any defense or military-based institution
• Family members of those in the Field of Membership, including: grandparents, parents, spouse, siblings, children (including adopted, foster and stepchildren), grandchildren, and household members.
• Family members and employees of Pentagon Federal Credit Union itself
• National Military Family Association members

If you’d like daily tips, thoughts, and suggestions on how to maximum your rewards and how to catch sign-up opportunities, subscribe to MyCardBlog for free by clicking this link.

This is my monthly updated list of credit card sign-up bonus. I missed some posts (November and December 2008) due to the severe financial situation. I posted some similar posts in the past several months. The purpose of this post is to keep you updated about the latest sign-up bonus opportunities from major US credit card issuers. I have a special page for credit card sign-up bonus where you can find a complete list of credit cards which will offer you a certain amount of sign-up bonus. I hope this list will be helpful for those App-O-Rama planners. I think it’s necessary to keep a tidy list of credit cards with some fulfillment requirements. The aim is to keep you updated with sign-up bonus offers. There are two main requirements for a specific credit card entering in this list: minimum $50 sign-up bonus and must be a mainstream brand like American Express, Discover, Citi, Chase, BOA, etc. Thus all the credit cards on this list are available to everyone.

All the credit cards are listed in order of value and I will try my best to keep this list updated in a monthly manner. Basically, I assume 100 points/miles=$1. Because you can always redeem your points or miles for certain gift cards. If you have more credit card deals, please let me know.

I reviewed a lot of American Express credit cards. American Express is one of my favorite credit card issuers in this country and I use American Express credit cards a lot for my daily shopping. When it comes to purchase a large electronic product, American Express credit card is always picked. Their extended warranty program is really great! You can get additional warranty without additional cost. Of course, you have to pass the famous “Financial Review” if there is something happens to your account.

Today when I visited a website, there is a pop-up window came up to my eye. The pop-up window indicated that I could get a $100 gift card for applying for the American Express Rewards Gold Plus Card. I never mentioned the American Express Rewards Plus Gold Card at MyCardBlog.com. Since there is a $100 gift card sign up bonus, I have to briefly introduce this credit card.

Rewards Overview:

• Earn 1 Membership Rewards point for virtually every dollar you spend
• Earn additional points with select travel partners (get 2 points for traveling)
• Up to 5 Fee-Free Additional Cards
• Gold Card Events

The membership points you earned are very rewarding. You can redeem all your membership rewards points easily with many options. You can redeem points for rewards from 20 airlines, hundreds of hotels worldwide, vacation packages, over 50 cruise itineraries, and spa retreats. You can also transfer points into 16 frequent flyer programs — 1 point for 1 airline mile with most programs. Or you can redeem points for rewards from over 50 of the finest names in shopping and entertainment, including Saks Fifth Avenue, COACH, Dell Computer, Callaway Golf, and The Sharper Image. There is no expiration date or limit to the number of points you can earn.

Basically, the rewards is similar to other American Express credit cards-1 point for $1. But if you travel a lot, the additional point will bring huge amount of savings for you.

Plus all American Express gold card members have the access to the gold card hotline which will save you a lot of time and money to schedule your travel. You can also have access to Gold Card Events and other exclusive entertainments.

There is a $150 annual fee which is waived for the first year. (After the first year, you should probably close the account or convert it to another American Express credit card.)

Another similar offer is the American Express Preferred Rewards Gold Card which is also offering 10,000 membership rewards points if you spend $500 in 3 months with this card. The 10,000 membership rewards points are redeemable for a $100 gift card.

I just reviewed the New Sony PlayStation Visa Credit Card which is a great credit card for PlayStation players to show their own loyalty. World of Warcraft is another popular game with millions of players. I was luckily found out that there is a special World of Warcraft Visa Credit Card for the World of Warcraft players.

When I saw this credit card, I was shocked by the astonishing card design. As a matter of fact, there are 13 difficult card designs that the cardholders can choose from. Each card design has an actual character on it, thus everyone can choose the favorite one easily.

Another great feature of this credit card is the rewards program that it offers. In fact, the first purchase on the credit card yields a month of free World of Warcraft subscription time. This is the only credit card that lets cardholders earn playing time with every qualifying purchase. Every dollar in qualifying purchases earns the user one reward point. Points can be redeemed for World of Warcraft game time. Points earned post to your account each monthly billing cycle. Plus This credit card offers introductory 0% APR which is good on all purchases and balance transfers for the first 6 billing cycles after your account is opened.

There is no annual fee associated with this World of Warcraft Visa Credit Card. You can complete a quick and easy online application. Applications for the World of Warcraft Visa are processed and supported by the First National Bank of Omaha.

There are so many credit card products in the market nowadays. And of course, there are many different credit card names. We have Platinum Credit Card, Platinum Select Credit Card, Visa Signature, Gold Card, or many others. Can you imagine that there is a diamond credit card? Yes, the Eurasian Bank from Kazakhstan is issuing a new diamond Visa credit card to ultra-rich people who can afford a diamond credit card.

It’s really strange to see banks issuing super-expensive credit cards recently. We all know that almost all organizations around the world have succumbed to recession. How can they attract new customers to try this new credit card product?

According to the report, the newly launched visa credit card by Eurasian Bank, Kazakhstan is encrusted with a shiny 0.02 carat diamond and laced with an elaborate gold pattern. This luxury credit card is designed for a private club of VIP clients.

This luxury Visa credit card is issued to customers with an annual income of $300,000 or above (the average monthly wage is about $500 in Kazakhstan.). And it’s not limited to the rich people in Kazakhstan only. Super-rich people from other countries can also apply for this credit card.

This credit card is similat to the other Diamond-Studded Dubai First Royale MasterCard. If you look carefully, it seems that this credit card is named as the “Visa Infinite”. I’m wondering how long it takes till the Diamond falls off. And whether the Eurasian Bank would offer free replacement.

Recently many friends asked me which credit card was the best student credit card. Although I have already a post indicated the Citi mtvU Platinum Select Visa Card for College Students is the best credit card for college students, there are actually many great choices out there. And since the credit card issuers are tightening their credit approvals, it’s not easy to get a credit card from a single credit card issuer. Hereby I introduce many great student credit card products.

At first, I should let you guys remember that in the past all college students can let their family members to add them as authorized users in their credit card accounts. In this way, all college students can build a solid credit history. But this method doesn’t work from now on. It’s really difficult to establish a good credit history now. But the positive side is the credit card companies know that students need money and usually lack the ability or knowledge to manage their personal finance. Students credit cards are usually a big income for most credit card companies. Therefore most credit card issuers are willing to issue their credit cards to college students.

Of course, the top choice is still the Citi mtvU Platinum Select Visa Credit Card for College Students. This Citi mtvU Card is specialized for college students. You get 5 thankyou points for each dollar spent at restaurants, bookstores, video stores and movie theaters. Meanwhile you can also get 5 thankyou points for every dollar at Amazon.com. Plus you can rewards for being a good student. You can earn 250~2,000 bonus thankyou points each semester for maintaining a good GPA. In a word, this Citi mtvU card is highly recommended for college students.

Following is a list of other great student credit cards:

• Citi Dividend Platinum Select Card for College Students
• Citi Driver’s Edge Card for College Students
• Discover Student Card
• Discover Open Road Card for Students
• Chase+1 Student MasterCard
• Bank of America Student Platinum Plus Visa Credit Card

I believe this is great news for most credit card users but a nightmare for the credit card issuers. The Office of Thrift Supervision, Federal Reserve and National Credit Union Administration has approved a new rule set to take effect in July 2010 that will regulate credit card companies’ ability to raise interest rates and how they apply payments to existing balances. The government is aimed to stop the “unfair and deceptive” practices used by credit card issuers.

The Washington Post first reported the new rules. The new rules allow credit card companies to raise interest rates only on new credit cards and future purchases or advances, rather than on current balances. This is the most important change in the new credit card rules. This new term will definitely help a lot of credit card users who carry balances every month.

Some major/noticeable changes you might want to know:

Minimum time to pay your balance-the minimum time for a borrower to pay is 21 days. (Some credit card issuers are using 20 days now.)

NO two-cycle billing-this is commonly used in current credit card industry and unfair. Ne rules prohibit such tricks. This will dramatically reduce your interest burdens. (Under this method, when a consumer pays the entire account balance one month, but does not do so the following month, the bank calculates interest for the second month using the account balance for days in the previous billing cycle as well as the current cycle.)

Payment allocation-When different annual percentage rates (APRs) apply to different balances on a credit card account (for example, purchases, balance transfers, cash advances), the final rule requires banks to allocate payments exceeding the minimum payment to the balance with the highest rate first or prorata among all of the balances.

Changing of Interest Rate-The new rules will prohibit the credit card issuers to increase your interest rate for an existing balance. New rule requires banks to disclose at account opening all interest rates that will apply to the account and prohibits increases in those rates, except in certain circumstances. If your credit card issuer want to increase your interest rate on your credit cards, the increased new rate can’t be applied to previous balance.

NO high-fee subprime credit cards-Banks would be banned from financing security deposits and fees for credit availability (such as account-opening fees or membership fees) if charges assessed during the first 12 months would exceed 50 percent of the initial credit limit. Fees exceeding 25% of available credit must be spread over no less than the first six months that the account is open. This might cause trouble for some subprime credit cardholders. With less revenues, subprime credit card issuers might require the applicants to have better credit performance.

It’s obvious that the new rules will bring less revenues for credit card industry. it’s even projected that the new credit card rules might cost the credit card industry about 10 billion dollars. Our credit card issuers might have to bring new ways to make money. It’s also possible that the sign up bonuses might disappear for many credit card products. The full press release from Feds can be found here.