MyCardBlog

It is strange to see so many credit card issuers are adding more credit card products recently. The credit card delinquency rate was up 11% during last quarter. US Bank just launched a new business credit card-the U.S. Bank Cash Rewards Business Platinum Card. This credit card is said to be a good credit card which offers businesses a new way to save while manage their expenses.

The U.S. Bank Cash Rewards Business Platinum Card offers triple rewards (3%) cash back on cellular, gas and office supply purchases and one percent cash back on all the other purchases. There is no cap on the amount of cash rewards you can earn on this card and  the cash rewards in your account never expires. Cash rewards can be redeemed once you reach a $25 threshold and in additional increments of $25 thereafter.

There is no annual for this card or if you make at least one purchase with this card (otherwise you will be charged $25). You can add more authorized users in your account and they all earn cash back! Plus, you’ll receive an annual bonus equal to 25% of your prior year’s Cash Rewards on your account anniversary date.

U.S. Bank actually has a chart on their website to show you how much you can save with the new U.S. Bank Cash Rewards Business Platinum Card.

If you are a business owner, I strongly suggest you use this great cash rewards business card. They only accept applications in local U.S. Bank branches.

The U.S. Bank all offer other great business credit cards:

The U.S. Bank Select Rewards Business Platinum Credit Card

The U.S. Bank Travel Rewards Business Platinum Credit Card

The U.S. Bank Business Platinum Credit Card

WorldPerks Visa Business Card

SKYPASS Business Credit Card

I heard a lot about the worry that many banks may follow WaMu and Wachoiva’s step. It’s understandable that they don’t know that their money is covered by FDIC (current limit is lifted to $250K). I have seen a lot of friends transferred their money from other banks to Chase Bank. Hereby I want to state that your money is covered by FDIC. Even your bank collapses in an unexpected way, your account at your bank is safe. Your money is covered by FDIC. You can cash your deposit at the collapsed bank immediately after FDIC takes over it.

Today I came across the article at New York Times which indicated that five regional banks reported another round (third quarter) of painful results on Tuesday. Furthermore, analysts say their business will worsen as the economy deteriorates.The results are expected as a result of the financial crisis.

Following is a brief summary of the report:

US Bank—quarterly profit but not up to investors’ expect, bank stocks are down about 42 percent in the last year.

National City Bank—fifth quarterly loss, would cut 4,000 jobs.

Fifth Third Bank—second quarterly loss, lost $56 million.

Key Bank—second quarterly loss, lost $36 million.

Regions Financial of Alabama—$79.5 million profit.

To address the problems, banks are in great need of money. That’s why National City Bank promote their checking account products with $150 bonus with qualified direct deposit. At the same time, all of the banks are running great long-term CD deals in the past months. If their customers lose the confidence and transfer all of the money to other banks, I think it’s really the time for them to collapse.

Of course, there is also good news. The above mentioned banks are seeking the involvement of US government. They might join the government’s $250 billion plan to recapitalize banks.

All I want to say is let give them some time and confidence.

US Bank, the Minneapolis based commercial bank, is again offering $75 free gas bonus for opening a new checking account and make gas purchases with visa check card. This promotion is pretty nice if you want to open a checking account at US Bank because this promotion doesn’t require direct deposit.

I reported the same promotion in September. At that time, US Bank was also offering $75 gas credit for using their check card at gas stations. This promotion is listed at here. But it is not listed at US Bank website.

Some requirements for this promotion:

• Visit your local branch by 10/31/2008 (bring your printed ad to your local branch)
• Open a new Free Checking Account (depend on what kind of service you want)
• Spend up to $75 at pumps with your new check card (Non-PIN purchase is required and you must use the card up to $75 within 30 days of account opening. Gas receipts must be brought into the branch where the account was opened by 12/05/2008.)
• Minimum $50 initial deposit required
• No direct deposit required

For example, the free checking account doesn’t require any direct deposit, no minimum balance required, and no monthly fees. It’s a great checking product!

U.S. Bank has locations in Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming. It’s said that Warren Buffet owns stake in US Bank.

US Bank also has credit card business. Its REI Visa Credit Card offers $40 REI gift card for applying for a new REI Visa Credit Card and get approved. This credit card also offers 5% cash back for shopping at REI. Probably the most famous credit card from US Bank is the WorldPerks Visa Rewards Card which offers frequent flyer miles from Northwest Airlines. The WorldPerks Visa Signature Card offers 20,000 one-time Enrollment Bonus miles and the WorldPerks Visa Platinum Card offers 10,000 one-time Enrollment Bonus miles. US Bank also offers SkyBlue SKYPASS Visa Credit Card which is co-branded with Korean Air.

Recently, I have seen some great banking bonus offers from some major US banks. Does this mean that the economy is becoming better? I hope so.

US Bank is offering $75 bonus (gas card) for opening a free checking account in branch and using the check card associated with the account to make gas purchases. This promotion is listed in the Oakland Tribune.

Here is how to get the $75 bonus:

• Visit your local branch by 9/26/2008 (I suggest you print out the ad and take it with you. The ad can be found here.)
• Open a new Checking Account
• Spend up to $75 at pumps with your new check card

The Free Checking Account at US Bank has a $50 minimum opening deposit requirement. No minimum balance requirements. And no monthly maintenance fees. Yes, you don’t have to alter your direct deposit which is often required by some prmotional offers.

You have to pay attention on the specific requirements of the promotion offer:

• The gas purchases must be non-PIN
• The gas purchases must take place within 30 days of the new checking account opening
• Gas receipts must be brought into the branch where the account was opened by 10/31/2008

You will receive the $75 bonus in your checking account after you give them the gas receipt as required.

There is another banking bonus which I think might be of some interest to the residents at Oklahoma, Kansas, Colorado, Utah, Arizona, Nevada, Wyoming, Idaho, Washington, Oregon and California.

Bank of the West is offering $100 bonus for competing a series of checking account activities.

In order to earn the full $100 bonus, you have to:

• $25 for opening a new free checking account
• $25 for using your debit card 10 times
• $25 for signing up for direct deposit
• $25 for using online bill pay

This offer requires a monthly direct deposit higher than $100. The checking account must be opened before Novmber 1st, 2008 with $100 initial deposit. This is an in-branch only offer. The pomotion page can be found here.