Plain Vanilla Discover More Card Now The #1 Credit Card @ www.BalanceTransfer.cc

Based solely on the number of applications submitted via this website, the plain vanilla (or "classic") Discover More Card is now the most popular credit card we recommend, knocking the Discover More Black Card to second place. Why are visitors more interested in the plain vanilla card when they could choose the Black Card, or the Discover More $100 CashBack Bonus card? Simple: the classic More Card is now offering the best 0% balance transfer deal: 0% intro APR on transferred balances for 18 months. Here's how these cards look right now, from a 0% intro APR point of view:

Discover More Card (plain vanilla):

• 0% intro APR on transferred balances for 18 months
• 0% intro APR on new purchases for 6 months
  
  

Discover More Black Card:

• 0% intro APR on transferred balances for 12 months
• 0% intro APR on new purchases for 12 months

Discover More Card with $100 CashBack Bonus:

• 0% intro APR on transferred balances for 12 months
• 0% intro APR on new purchases for 6 months

It seems that the 18 month interest-free period being offered by the plain vanilla More Card is just too attractive a deal to pass up. Godspeed to all applicants.

In general, the rate of application approvals is still improving, albeit at a very moderate clip. We'd like to see credit-card banks approve a lot more applications, especially since American credit-card banks are doing OK these days, and because they have the implicit support of the federal government. Banks are healthy, and they should be willing and able to take more risks. Banks have been able to borrow at 0% - 0.25% and lend at much higher rates, like the rates consumers pay on credit cards. And the easy money isn't going to end any time soon. The Fed is going to keep the target fed funds rate at near zero for as long as it takes to get the economy growing fast enough to bring the unemployment rate down, no doubt.

More evidence of improving credit-card units at big banks, from reports of third-quarter performance. From Chase:

"...JPMorgan Chase Reports Third-Quarter 2010 Net Income of $4.4 Billion, or $1.01 Per Share, on Revenue1 of $24.3 Billion...Card Services sales volume up compared with prior year and quarter; 2.7 million new accounts opened during the quarter; net charge-offs and delinquencies continued to improve..."

From Discover Financial Services:

"...Discover card sales volume of $24 billion in the quarter continued to show positive growth trends, increasing 5% from the prior year.

• Net interest margin of 9.16% remained relatively stable as compared to the prior quarter, as the impact of legislative changes was offset by lower interest charge-offs.

• Credit performance continued to improve, with net charge-offs down $102 million from the prior quarter and a net chargeoff rate for the third quarter of 7.18%.

• Loans over 30 days delinquent declined $180 million in the quarter, which led to a $187 million release of loan loss
reserves.

• Payment Services processed record transaction volume in the quarter of $39 billion and showed continued strong results with profit before tax up 36% from the prior year..."

And here's a clutch of clips from a very recent and excellent WSJ article (WSJ is always great, ain't it?) about easing credit-card delinquencies:

"...At American Express, which has an affluent cardholder base, borrowers at least a month behind in their card payments fell to 2.3% in October from 2.5% in September..."

"...Discover said charge-offs totaled 6.83% of credit-card loans that have been packaged into bonds, down from 7.15%. The 30-day delinquency rate fell to 4.34% from 4.41%. Its shares rose 2.4% to $19.05. Discover and its bigger rival, American Express, process card transactions in addition to issuing credit cards..."

"...J.P. Morgan Chase said charge-offs fell to 7% from 7.78% and delinquencies fell to 3.81% from 3.82%..."

"...Bank of America has consistently reported a higher write-off rate than other major U.S. card issuers. Delinquencies were lower, at 5.6% compared with 5.71%..."

"...At Capital One, a card-lender-turned-bank, charge-offs in its U.S. credit-card business fell to an annualized 7.26% in October from 8.38% in September, according to a regulatory filing Monday with the U.S. Securities and Exchange Commission. The 30-day delinquency rate continued to fall, to 4.45% from 4.53%..."

Based on our own data here @ www.BalanceTransfer.cc, credit-card approvals by all the major credit-card banks peaked during the first quarter of 2007. We're looking forward to the day banks approve applications like they did back then. Americans need access to credit to feel prosperous and spend, and that spending will contribute much to getting this economy back to strong and sustainable growth, which in turn will bring the jobless rate down.

The old "I'll use the equity in my home as an ATM and buy all the stuff I want" paradigm is dead, or at least in a very deep coma. Waiting for it to return...that would be like Waiting for Godot.

Based my own very recent experience, I'd say the American consumer is itching to spend like the good old days of 2007 (ahhhh, the memories!) After enjoying a fabulous Thanksgiving meal, I took a midnight trip to Wal-Mart, in an effort to burn off some calories. It was the first minutes of Black Friday. The store was a war zone. There was special fencing at the entrance, and a very noticeable police presence. And the lines: unbelievable. They stretched back to the opposite end of the store, which translated to a 2+ hour wait, in my estimation. Eveyone looked very stressed, which was very puzzling to me. After all, these shoppers knew what to expect. For me, it was fun to watch the madness.

I do all my Xmas shopping the day after Christmas. Excellent sales, and manageable lines. I'm too old and busy for the Black Friday thing.

Stay tuned for more 0% credit card updates. Thanks for reading.

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Discover Offers Double CashBack Bonus During The 2010 Christmas Shopping Season

If you plan on doing some serious holiday shopping this year, and you have a Discover card in your wallet/purse, then you'll like today's news. Discover, which already offers the best cashback rewards program in the industry, is going to double the cashback rewards for Discover cardholders, starting on November 15, 2010. What's the catch, you ask? This extra bonus only works with online shopping.

If you're like me then you probably do most of your shopping online anyway. IMHO, shopping online is the best thing since...well, the Internet!

Here's a clip from today's press release:

"...With the holidays just weeks away and in time for Black Friday and Cyber Monday, Discover is announcing extra cardmember benefits to provide gift buyers with greater value when they use their Discover cards this season.

Starting November 15, Discover cardmembers will earn Double Cashback® Bonus (2 percent) on up to $1,000 in holiday purchases on any online shopping through December 31. And because Discover Cardmembers are always earning Cashback Bonus on every purchase they make, once they reach the $1,000 spending limit, they will still automatically earn up to 1% Cashback Bonus. Discover cardmembers can quickly and easily enroll in the Double Cashback Bonus program at Discover.com or by calling 1-800-DISCOVER (347-2683).

Other ways Discover is rewarding cardmembers and helping them to maximize their holiday spending include:

* 5% Cashback Bonus: Discover Cardmembers have the opportunity to earn 5% Cashback Bonus in rotating categories throughout the year. From October through December, cardmembers can earn 5% Cashback Bonus on up to $300 in purchases at restaurants, department stores and clothing stores. Cardmembers can enroll at Discover.com or by calling 1-800-DISCOVER (347-2683).

* Increased Cashback Bonus at ShopDiscover: Discover cardmembers already enjoy earning 5%-20% Cashback Bonus on purchases made through ShopDiscover, Discover's exclusive online shopping mall featuring more than 150 top retailers. Starting November 11, more than 65 ShopDiscover retailers will increase the Cashback Bonus amount they offer by 5%, with partners such as Dell, Sears and Lands' End offering 10% Cashback Bonus for a limited time. Many others will offer free shipping on merchandise purchased through the site.

* Expanded Redemption Options: Discover recently announced an expansion to its rewards program to include more ways for cardmembers to redeem their Cashback Bonus, including the ability to redeem for brand-name merchandise. During the holidays, Discover cardmembers will experience the addition of even more merchandise, including popular consumer electronics such as Wii Bundles, iPods, Blu-ray Disc Players and HD Camcorders - all delivered with no shipping fees. Cardmembers also will be able to redeem their Cashback Bonus rewards for exclusive experiences, including the ability to purchase 2011 Discover Orange Bowl tickets that include exclusive cardmember experiences surrounding the game.

'Discover has a rich tradition of rewarding our cardmembers and helping them to do more with their holiday gift budgets,' said Julie Loeger, senior vice president of rewards and brand management at Discover. 'Whether cardmembers want to use their Cashback Bonus for merchandise, partner gift cards, a unique experience or a charitable donation, Discover is offering incredible value and choice for everyone's holiday wish list.'..."

If you don't have a Discover credit card, click here to review the Discover cards we recommend. And happy shopping!

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Discover More with $75 CashBack Is Now Discover More with $100 Cashback

Some interesting news out of Discover today. The Discover More Card with $75 CashBack is now the Discover More Card with $100 CashBack. Value has truly increased with this reconfigured card. That's because the amount of spending one must do to qualify for the cash bonus hasn't changed, i.e., spend $500 within your first 3 months as a cardholder. This revamped card is available here.

This card also features the same generous cashback rewards that are the hallmark of the Discover More family of credit cards: 5% cashback when spending within certain categories like grocery and drugs stores, dining, hotels, theme parks, travel and more. Cardholders also earn up to 1% cashback on all other purchases.

Cashback rewards don't expire, but:

"... if your account is closed for any reason or inactive for 18 consecutive months or if you fail to make any Minimum Payment Due for two consecutive billing periods, any Cashback Bonus in your Cashback Bonus account will be forfeited..."

So, as long as you don't shelve the card for a year and a half, and as long as you make payments on time, your rewards won't disappear.

Discover may have reconfigured this card to compete with the Chase Freedom Visa® credit card with $100 cash back bonus. This Discover credit card may be more attractive to consumers, however, because with the Chase Freedom $100 cash back bonus card, the cardholder must spend at least $799 within the first 3 months, whereas the Discover card requires only $500-worth of spending within the same period.

Yup: competition in the financial services industry is always a good thing! Amen. Enjoy!

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Credit Card Offers Continue to Improve Despite Weak Economy

To be perfectly honest, I don't see how the American economy can continue to expand while there are still some major economic hurdles to overcome:

• Unemployment is still high, and will probably eventually settle at a rate much higher than Americans are used to. It's a whole new economy, no doubt. Anyone waiting for the jobless rate to drop below 6% is an anachronism. Tomorrow's July employment report from the Labor Department: expect ugliness.
  
  
• Banks and corporations are hoarding billions in cash. Result: banks aren't lending the way they're supposed to, and companies aren't hiring like they used to. Banks are still collapsing at an alarming rate, while businesses of all sizes have been enjoying significant productivity gains since cutting back on labor during the Great Recession; they don't want to give those gains up.
  
  
• Home prices aren't improving in any meaningful way. Moreover, the residential foreclosure crisis is still going strong.
  
  
• The national debt is unimaginably high, and there is no political will to bring it down while the jobless rate is painfully elevated.
  
  
• The very real threat of deflation likely means that a return to sustainable growth and prosperity are years away.
  
  
• Distressed commercial real estate (commercial properties that are delinquent, in default, in bankruptcy, in foreclosure or are bank-owned) are rising fast.
  

Double-dip recession? I certainly don't want to see it happen, but I know it could easily become a reality. Here's what former Labor Secretary Elaine Chao had to say about it in a recent TV interview:





Yet, despite the dismal economic climate, credit card offers continue to improve.

Discover recently came out with the Black card, which has the best 0% Intro APR on both transferred balances and new purchases of all Discover cards, and also has the best cashback rewards program. We've always liked Discover's cashback program because it's easy to use and it's one of the most generous cashback programs in the American consumer credit card market.

Just as appealing as the Black Card, Discover has another new card: the Discover More Card with a $75 cashback bonus. This card is great because it offers the same 12 month interest-free period on transferred balances as the Black Card, but also adds a bonus $75 on top of it's already generous rewards program. In order to qualify for the $75 bonus, cardholders have to make $500-worth of new purchases within 3 months. Not hard, really.

Chase is also coming out with new, attractive offers. Chase has the standard Freedom Card, which is a great rewards credit card, but it also has 2 special variants of Freedom: Freedom with a $100 cashback bonus and Freedom with a $50 cashback bonus:

• With the Freedom $100 cashback bonus card, the cardholder must spend $799 on new purcahses with the card in order to qualify for the bonus. Not as easy as the Discover cashback bonus card, but, then again, the bonus is $25 higher with this Chase card.
  
  
• With the Freedom $50 cashback bonus card, the bonus is easy to earn. You get $50 after making one purchase with the card. Sweet.
  

There's also the new Chase Slate credit card, which offers 0% intro APR on new purchases and transferred balance for 12 months (Elite pricing, i.e. reserved for those with excellent credit.)

0% intro APR, no fee balance transfer credit cards are alive and well in the UK. When they'll return to the American market is anybody's guess. Hopefully soon. Thanks for reading.

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Chase Sapphire: Living the Good Life (A Review)

It seems that many rewards cards today try to restrict the way you redeem your rewards, forcing you to choose between either cash back, merchandise, or miles. The Chase Sapphire card is strikingly different. Cardholders have the flexibility to redeem their rewards points on just about anything-hotel rooms, airfare, or simply cash back. Alluring sign-up incentives and decent card terms make the Chase Sapphire card a cut above the regular plastic.

Oscar Wilde once said, “I can resist everything except temptation,” and the Chase Sapphire card certainly is not lacking in that department. With 10,000 bonus points after your first purchase and no earnings cap or rewards expiration, the Sapphire makes it hard for even the most disciplined individual to say no. The Sapphire card boasts a low 12.24% APR on purchases and balance transfers, has no annual fee, and earning one point for every dollar spent gives you the ability to rack up points to choose a reward(s) that truly suits you.

The Ultimate Rewards program is one of the most generous rewards programs out there today. With no points expiration or black-out dates, if you can dream it, Chase will make it happen. Ever wanted to swim with dolphins? Treat that special someone to a VIP concert experience? How about a five-star dining experience to spoil your family? By using the Sapphire card, you can turn an ordinary day into an extraordinary one that won‘t soon be forgotten. Many of the events offered through Ultimate Rewards are exclusive to cardholders, making each excursion truly one-of-a-kind.

Racking up rewards points is as easy as swiping your card. Earning one point for every dollar is great, but when you shop within the Chase online mall portal that has over 300 merchants, you have the potential to earn up to ten points per dollar spent. You can even earn double points when you book your airline seats through the Travel Booking Tool. But worry not. If travel rewards aren’t quite your thing, you can redeem your points for gift cards to spend at your favorite stores. Rewards start at $25 for 2500 points. Or you can even choose to “pay yourself back” by using your points for a statement credit.

In addition to the Ultimate Rewards program, the Chase Sapphire card has all the attractive features people have come to expect from Chase. The features include Trip Cancellation and Travel Accident Insurance, Auto Rental Collision Damage Waiver, Zero Liability for fraudulent purchases, and a personal concierge. One of the best features included for wielding the Sapphire card is the ability to talk directly to a customer service person. By calling the number on the back of your card, you instantly are connected to a live person instead of “Pressing 3 to…” Chase also gives its cardholders extra peace of mind if their card is lost or stolen. They will expedite a replacement card to you and even arrange emergency cash for you until your new card arrives.

For those that like to keep a close eye on their finances, the Chase Sapphire also comes standard with Blueprint. By using Blueprint, you can decide how you’d like to pay down those larger purchases and watch your balance drop. Chase also sends you a year-end report, organized by purchase type. This easily helps you track your spending for the past year as well as making filing your tax return that much easier.

Unfortunately many of us will never have the opportunity to enjoy the luxuries this card has to offer; it is designed for those in the top 15% of household earnings. Even still, it is an excellent choice for those who do qualify, giving them the chance to make their every dream come true. As for the rest of us…well, we can still browse, right?

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A Clean Slate with Chase: Slate

Summary: The Chase Slate card is a no-frills card that, combined with Blueprint, can help users pay down their balances faster. With great introductory and balance transfer rates it is easy to go from large balances to no balance in the blink of an eye.

Life seems to have a way of creeping up on us when we least expect it. Unforeseen expenses pop up, emergencies happen, and sometimes the only way to pay for them is by credit card. But when you have the Chase Slate card at your side, you will be able to manage those unforeseen expenses with ease, helping to make your financial life a bit easier. Its simple, no fuss design makes it the perfect go-to card in case of emergency.

Chase has designed the Slate card for those with a good to excellent credit rating, and uses a tiered pricing structure to determine the applicant’s APR. The main factors in determining which tier the applicant falls under are their credit history and credit score. Chase currently has three pricing tiers; Elite, Premium, and Standard, and the APR’s for each tier are as follows: 13.24% variable for Elite; 17.24% variable for Premium, and 22.24% variable for Standard.

The Chase Slate card features a zero percent introductory rate for both purchases and balance transfers for twelve months for those that qualify for Elite or Premium pricing. Standard pricing cardholders will qualify for zero percent interest on balance transfers for six months. Chase Slate has no annual fee, so that all your payments go toward paying your balance down instead of paying to use the card.

The Slate card also come standard with Blueprint by Chase. This amazing set of tools allows you to stay on top of your debt and learn how to pay it off. One of the best features of Blueprint is Full Pay. When using Full Pay, you can select the categories of purchases, like gas or groceries, that you want to pay in full every month. As long as you make your Blueprint payment before your payment is due, no interest will be paid on those purchases. Even if you carry a balance, interest will only be applied to the purchases that are not a part of Full Pay.

The other features of Blueprint are Split, Finish It, and Track It. Split is designed to help you set up a payment plan for specific, larger purchases while Finish It applies the payment plan to your entire balance. Track It categorizes your purchases, whether it be gas, groceries, or dining out, and separates them so that you can see where your money is being spent. The nice thing about your enrollment in Blueprint is that it isn’t set in stone. You can change your settings to meet your financial needs from month to month without penalty. And as long as you pay at least your minimum due before your due date, your account will stay in good standing.

The Slate card also has great additional benefits provided to you at no extra cost, just for being a Chase cardholder, like:

• 24/7 Fraud Monitoring - Your account is monitored for suspicious activity and reported to you as necessary.

• Zero Liability for Unauthorized Purchases - Find a charge on your statement you didn’t make? You won’t have to pay for it, though certain restrictions do apply. Be sure to check the details.

• Email and Text Alerts - Not sure when your payment is due? Can’t remember if a payment was made? By using email and text alerts, you will always be on top of your account. While this service is free through Chase, standard text messaging and/or data rates may apply.

• Global Acceptance - The Chase Slate card is co-branded with Visa, so it's accepted in 26 million locations worldwide in over 150 countries, easily covering you in the event of an emergency.

The biggest drawback to this card is the lack of a rewards program. This card was designed for the credit card user who either uses credit sparingly or who wants to pay down a higher balance from elsewhere. There are also other cards out there that have a lower APR; while Slate cards do have a lower rate than some, they certainly are not the lowest. Knowing what you want and need in a credit card will help you determine whether the Chase Slate card is right for you.

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The Chase Freedom Credit Card, A Review

Summary: If you are looking for a no-hassle rewards card, look no further than Chase Freedom. With its simple rewards platform and easy reward redemption process, earning and using your rewards has never been simpler.

Finding that perfect rewards card can be likened to finding a needle in a haystack. With so many options from so many different credit card companies, it is easy to become overwhelmed. If you are looking for a simple, easy-to-use rewards card look no further than the Chase Freedom card. Chase has designed a simple rewards platform that makes it easy to earn and redeem your rewards. Coupled with no annual fee, unlimited rewards, and rewards that never expire, how can you go wrong?

The Nitty-Gritty

With the Chase Freedom card, you can enjoy a zero-percent APR (annual percentage rate) for the first six months your account is open. Your creditworthiness will determine your APR, which starts as low as 12.99%. The Freedom card also gives you the ability to transfer balances to your card at zero percent interest for the first twelve months your account is open, but it must be done when you initially apply for the card. Otherwise a minimum 12.99% rate applies for any balance transfer, again, depending on your credit history. You’ll want to stay on top of your payments; any account over 60 days past due reverts to the default 29.99% APR, potentially reducing any rewards you might accrue if you carry a balance. It should be noted that to even be considered for this credit card, you must have a good credit history. In addition, employment status and annual income are also important factors when determining your creditworthiness.

Chase Blueprint

Once you are approved for the Chase Freedom card, be sure to enroll in Chase Blueprint to begin managing your account. Blueprint allows you to take control of your finances, providing you with the necessary tools to pay down/pay off your account balance. This service is free to all Chase Freedom cardholders, and can be altered as needed to meet your needs. You can specify which purchases you’d like to pay in full to avoid interest charges as well as which purchases you’d like to pay for over time, called Split. You can split the payments up over however many months you’ll need, and Blueprint will track your progress on each statement until it is paid off. Their Finish It tool shows you how long it will take to pay off a large balance, showing you the amount in interest you will save as well as how many fewer payments you’ll have to make.

Rewards

At the core of the rewards program, you earn a full 1% cash back on every purchase with no earnings cap. Chase has also taken a leaf from Discover’s page and added rotating rewards and a shopping portal to earn additional rewards on purchases. The rotating rewards program allows you to earn 5% back on purchases made in various categories that change every three months. Quarterly enrollment is required to ensure that your purchases are properly tracked, and earnings are capped at $600 per month. Using the Chase shopping portal allows the participating merchants to track your purchases and issue your rewards. Merchants like Bath & Body Works, Best Buy, Home Depot, iTunes, and Wal-Mart all allow you to earn percentages from each purchase ranging from 1% to as high as 20%. There are a few merchants that give you a preset dollar amount per purchase rather than a percentage, so be sure to check before you buy.

Rewards Redemption

Redeeming your hard-earned rewards is always the best part, and Chase offers several redemption options to choose from. You can opt to redeem your points for travel by booking online through Chase travel, which is powered by Orbitz. You can also redeem your rewards for gift cards from merchants like Best Buy, Dunkin Donuts, Lowes, or Target. Of course, you can also choose to receive the good ‘ole greenback to do whatever your heart desires. With the Chase Freedom card, the sky is the limit and the choice is yours.

Bottom Line

The Chase Freedom card is an excellent rewards card for those who want either cash back or gift cards to their favorite stores. This card is easy-to-use, has a simple reward calculation formula, and has an easy rewards redemption process. However, in order to enjoy the benefits this card offers you must have a good credit rating. Chase Freedom also has higher interest rates than some of the other rewards cards out there which do not translate well for those who will carry a balance. If you are a frequent flier, you may want to find a card that allows you to amass airline miles coupled with the other frequent traveler perks other cards offer.

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American Express or Discover: Which One is Right for You?

Summary: American Express and Discover have some of the best consumer cards out there now, but choosing which company to go with can be difficult. By gathering information about each company, it will help you make the right choice for you and your family.

Making the decision to get a credit card should not be taken lightly. You need to be sure that you are in a place financially to meet the obligations of the card should you be approved. In addition, you also need to decide the type of borrower you are to determine which card will work best for you. Both American Express (also known as AmEx) and Discover offer rewards cards, but if you are not able to pay your balances in full each month your cash back rewards could be negated. Once you determine the type of borrower you’ll be and what you are looking for in a credit card/company, the fun part begins-applying for the card, (hopefully) being approved, and using it to reap the rewards.

American Express: All in Favor?

American Express is different from most credit card companies in that it actually issues, authorizes, and settles all the accounts themselves. They introduced the plastic credit card in the late 1950’s as a charge card whose balance had to be paid in full each month. It wasn’t until 1987 that AmEx gave their customers the option to pay over time. There are many excellent reasons to choose AmEx:

• Great cash back rewards. On some AmEx cards you can earn up to five percent cash back on your purchases. You should read the fine print of the card(s) you are interested in to be sure of its terms.

• No preset spending limit. As an AmEx cardholder, you will be able to breathe easier knowing your card will not be declined in the event you go over your limit. In addition, your superior credit rating coupled with the length of time you are an AmEx customer will give your account even more flexibility in the future.

• Exceptional customer service and complimentary concierge services. Ranked best in customer service for three years running, you’ll have the peace of mind knowing that if a problem does arise it will be taken care of swiftly. Moreover, the added bonus of having a complimentary concierge to help make important arrangements will help make anything you need to plan a breeze.

American Express: All Opposed?

Even with all the great benefits to being an AmEx card holder, there is always another side to the coin. Some factors to consider:

• Higher annual fees. Although it can be said that AmEx has many great cards out there with no annual fees, the fees on the cards that carry them can be substantial. It is important to look at the benefits of each card versus any fees that come with them. That way any potential rewards will not be negated by the annual fee to be paid.
  
  
• Not widely accepted. AmEx, although it has generally been viewed as an exclusive card, is still not as widely accepted as other credit cards. This comes from the higher fee they charge merchants who accept the cards. Having an AmEx card may make you feel good, but you may need to have a back-up card for when AmEx is not accepted.

• Know Your Repayment terms. When looking for an AmEx card, you should take careful note of the repayment plans for the specific cards you are interested in. In the past, AmEx only issued charge cards in which the balances had to be paid in full each month. Nowadays, many of their cards still require the balance to be paid in full monthly, but they do offer cards that allow payments to be spread out over time. Knowing how you plan to use the card before applying will help avoid any surprises after your approval.

Discover Cards: All in Favor?

Discover Financial Services came about from an unsuccessful attempt by Sears to become a player in the financial services industry in the late 1980’s. Growing from a small spin-off company to now being one of the largest credit card issuers in the world, they have since become a force to be reckoned with. Some of the positive attributes of Discover cards are:

• Fantastic cardholder perks. Being a Discover card holder gives you extra leverage when the unforeseen happens. Coming standard with the card are things like zero liability for fraudulent transactions, supplementary auto rental insurance, and travelers insurance. The terms for each of these varies, so be sure to check the fine print.

• ShopDiscover shopping portal. Being a Discover cardholder has its advantages, one of which is the ShopDiscover shopping portal. By shopping through this portal you can earn between 5%-20% cash back on purchases from your favorite stores, racking up your rewards very quickly.

• Lower interest rates. Some of the most popular Discover cards have a 0% APR for the first six months with as low as 11.9% APR thereafter based on your credit report. Most other card companies have a base rate of at least 14.9% which can really add up, especially if you carry a balance. Couple this with no annual fee and your rewards can add up fast.

Discover Cards: All Opposed?

With all these great attributes, it’s hard to believe that there could be any downsides to Discover. Here are a few things to consider:

• Not widely accepted. Like AmEx, Discover cards are still not accepted like Visa or Mastercards are. You should have a back-up card on you in the event Discover is not accepted.

• High cash advance rates. Pretty much all credit card companies charge insanely high rates for cash advances, and Discover is no exception. With a 19.99% fixed rate on all cash advances and a 3% transaction fee with a minimum $5 fee, this is a surefire way to lose money fast.

Knowing the pros and cons for both card issuers is only half the battle. Knowing the type of borrower you’ll be as well as what type of card you are looking for (rewards card, etc) will help you make the right decision. In addition, you should be sure you understand the terms and conditions set for each card to avoid any “surprises.” Recognizing your wants and needs and comparing them to what each company has to offer will help you determine which card is right for you.

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Slate: A New 0% Credit Card from Chase

Slate from Chase

The government continues to report positive macroeconomic news. Yesterday, the Institute for Supply Management (ISM) released its Purchasing Manager's Index (PMI) for October 2009. The PMI came in at 55.7%, better than what Wall Street economists were expecting, and better than the September figure. For the PMI, any figure above 50% is a strong indication that the American manufacturing sector is expanding.

Though an economic recovery appears to be taking hold, too many Americans are still dealing with various forms of oppressive debt, a home mortgage balance that's higher than their home's value, and job insecurity. In fact, earlier today Johnson & Johnson, a component of the Dow Jones Industrial Average (DJIA) and number 29 on the Fortune 500, announced that the company will be cutting 7,000 jobs (that's between 6% - 7% of its workforce.) National unemployment, already at 9.8%, will almost certainly rise during the fourth quarter and into Q1 2010. A jobless economic recovery? Yes: we're in it right now.

The whole world is relieved that the subprime debt-inspired credit crisis, which precipitated the worst recession since the early 1980's, and which brought the American financial system to its knees, has almost run its course. The liquidity maelstrom of 2008 and 2009 prompted the banks which survived the subprime debacle to cutback on all kinds of loans, including credit cards.

But financial markets are on the mend, as evidenced by low LIBOR rates, a healthy TED spread and the return of generous 0% intro APR credit cards.

Credit cards that offer a 0% intro APR period of at least 12 months all but disappeared from the market last year. But they're back. JPMorgan Chase Bank, commonly known simply as Chase, recently revealed a new credit card called Slate. Here are the vitals on Slate:

• 0% introductory APR on purchases for 12 billing cycles
• 0% introductory APR on transferred balances for 12 billing cycles
• Balance transfer fee of 3% of each transaction, with a minimum of $5
• NB: The 0% intro APR is reserved for those who qualify for "Elite" or "Premium" pricing. Those who can only qualify for "Standard" pricing cannot take advantage of any interest-free introductory period with this particular card.
• For those who qualify for Elite pricing, the "goto" rate (also known as the ongoing rate) is 13.24% (the U.S. Prime Rate plus 9.99%); for Premium pricing it's 17.24% (Prime plus 13.99%.) For Standard pricing, the introductory and goto rate is 22.24% (Prime plus 18.99%.)

If you have a good FICO® credit score (above 700), you will probably qualify for either Elite or Premium pricing.

Slate is a very timely credit card: it has arrived in time for the fast approaching Christmas shopping season. With Slate, cardholders can do their holiday shopping and have plenty of time (12 billing cycles) to pay their credit card balance down to zero without having to worry about interest charges.

The goto rate with the Slate card, however, is relatively high when compared to consumer-friendly credit card offers that were available before the global credit crisis (likely a direct result of new rules included in the Credit Card Act of 2009.) For the consummate borrower who qualifies for Elite pricing, the rate charged on any balance remaining after the interest-free, introductory period ends is Prime (currently 3.25%) plus 9.99%, which translates to 13.24%.

But the U.S. Prime Rate is as low as it can possibly go. As the economy heats up, it will certainly rises, and it will likely do so at a relatively fast clip as the Fed works to contain future inflation. There is no way of knowing exactly how high the Prime Rate will be a year from now, but if we plug in the median U.S. Prime Rate -- 8.75% -- then we get a rate of 18.74%, which anyone would agree is not consumer-friendly. In fact, any rate above 15% would be too much of a financial burden for the typical credit card consumer.

That's why we recommend Slate for anyone who can pay their balance down to zero over 12 months or so, which shouldn't be that hard to do (no need to go crazy with the Christmas shopping!)

As always, your comments are welcome and appreciated.

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Discover Releases A Biodegradable Version of The Discover More Card

While campaigning for the White House, Senator Barack Obama promised America that he would create 5 million "green jobs" over the next ten years. Following through, President Obama tagged $60 billion of stimulus cash for investment in clean energy and technologies. For some perspective: the Obama administration has committed more money to foster America's green economy than the gross domestic product of Luxembourg.

Complaints about all the planned green spending have been few.

It's clear that green movement is no passing fad, so many companies are trying to figure out how to capitalize on America's burgeoning love for and commitment to all things green. Discover Financial Services' (DFS) answer: a new version of the popular Discover More card that's biodegradable.

The Biodegradable Discover More Card is made from a special PVC plastic that's designed to safely breakdown when exposed to conditions similar to those found in landfills.

Card features and benefits include:

• 0% introductory APR on new purchases and balance transfers for 6 months.
  
  
• After the introductory honeymoon is over, the new purchases APR is 10.99% - 18.99%, depending on the cardholder's credit quality. For transferred balances, the "goto" rate is 10.99%.
  
  
• 5% Cashback Bonus® in categories like travel, home improvement stores, department stores, gas, restaurants, pet stores and many more
  
  
• Up to 1% unlimited Cashback Bonus® on all other purchases
  
  
• 5% to 20% Cashback Bonus® through our exclusive online shopping site
  
  
• No annual fee
  

For each transferred balance, the fee is 3%, with no minimum and no maximum.

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No Preset Spending Limit with the Advanta Business World MasterCard®

We've added the Advanta Business World MasterCard® to our lineup of recommended business credit cards. This card does not come with an attractive 0% balance transfer offer, and it the purchase APR is currently 16.99% (indexed to Prime.) So why do we like this card?

Because for certain individuals this card could be a very nice fit. Those small business owners who pay their credit card bills in full each and every month -- thus avoiding any finance charges -- will almost certainly find the "no preset spending limit" aspect of this card attractive. This card is very unique: it's a credit card with no preset spending cap. Usually, only charge cards like the Gold Card from American Express card have no preset limit.

Here's a clip from the Advanta Business World MasterCard terms and conditions:

"....Because your account has no pre-set spending limit, we may permit you to incur charges that cause your balance to exceed your revolving credit limit. We may evaluate each such charge based on your account performance with us and your experience with other creditors. Any amount that we allow you to spend above your revolving credit limit will be due in your next statement, but we will not charge you an overlimit fee. All rates, fees and comparisons are valid as of April 1, 2008 but not necessarily thereafter. You should consult your tax advisor as to the proper tax treatment and deductibility of any business expenses, including the cost of credit..."

No need to worry about being charged an over-your-credit-limit fee, ever. But, if you do go over your credit limit, be prepared to pay whatever amount you go over when your next statement arrives. If you want to spend above your limit but Advanta decides not to permit the overage, the charge will be declined.

Interested? Click here to apply.

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Help Entrepreneurs In Developing Nations Thrive with The New Advanta Kiva Business Credit Card

Advanta has just introduced the new Kiva business credit card. What's so special about this new Kiva card? Well, if philanthropy is your thing, this card might be just the right fit for you. That's because, as a Kiva BusinessCard accountholder, anytime you make a grant to Kiva.org using the Kiva card, Advanta will match the grant -- dollar for dollar -- up to $200 per month. Your grant will help entrepreneurs in developing nations.

Microfinance is a beautiful thing. A small donation can make a huge difference to a struggling entrepreneur in a relatively poor country. The future of philanthropy is in microfinance, in my humble opinion. Handouts can help deserving recipients temporarily. A grant to an entrepreneur, on the other hand, will not only improve that business owner's life, but also his family and his community.

The annual percentage rate (APR) for purchases with the new Kiva card is a very competitive Prime + 2.74%, which adds up to 7.99% at the time of this posting (NB: the index never drops below 5.25% for this card, no matter where the Prime Rate is.)

You can transfer a credit card balance at 0% Intro APR and the interest-free period will last 15 months! That's pretty darn strong. If you don't payoff your transferred balance by the time 15 billing cycles are up, the "goto" APR will be 7.99%, which is also very competitive.

A couple things I should point out before you decide to take the plunge:

• From the terms and conditions:
  

  
  "...Balance transfers must be from another business credit account..."

  
  
• Again, from the terms and conditions:
  
  

  "...Finance charges on balance transfers and cash advances begin to accrue on the date we process the transaction..."

Visit www.kivab4b.org for more info about how the Kiva program works. You can also visit the blog at www.b4bcommunity.org for the latest Kiva-related news.

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New Business Credit Card from American Express

If you fly with Delta Airlines a lot, then today's news may interest you. American Express recently announced the launch of a new line of business credit cards aimed at consumers and small business owners who fly with Delta Airlines often. The cards are the Delta Reserve Credit Card and the Delta Reserve for Business Credit Card. Here's a notable quote from the April press release:

"...The Delta Reserve Credit Cards are now the most elite Cards offered in the line of American Express and Delta co-branded cards..."

If the above quote has piqued your interest, here's a much bigger clip from the release:

"...American Express and Delta Air Lines (NYSE: DAL) are launching new premium co-branded credit cards for U.S.-based consumers and small businesses called the Delta Reserve Credit Card and the Delta Reserve for Business Credit Card. These new products will offer added value, flexibility and new benefits for Cardmembers who are most loyal to Delta.

The Delta Reserve Credit Cards are designed to cater to the needs of Delta's on-the-go customers and provides Cardmembers with a greatly enhanced travel experience through benefits such as the ability to earn Medallion® Qualification Miles (MQMs) faster, share MQMs with family and friends for the first time ever, access to the dedicated Breezeway priority boarding lane and frequent traveler security line, Delta Crown Room Clubs® access, and 24-7 concierge services. The Delta Reserve Credit Cards are now the most elite Cards offered in the line of American Express and Delta co-branded cards.

'We are delighted to expand our partnership with Delta and to offer these premium co-branded cards that reward our most loyal customers in new and unique ways,' said David Rabkin, vice president, Delta Cobrands, American Express. 'We know that affluent customers want access to distinctive services and experiences, so we continually look for ways to meet these needs. With the launch of the new Delta Reserve Credit Cards, we can deliver on that commitment.'

'The Delta Reserve Credit Card was created to offer premium customers a best-in-class co-brand card that provides them preferential treatment when flying Delta,' said Jeff Robertson, Delta's managing director of SkyMiles. 'Not only does this unique Card offer generous rewards, it will also provide loyal Delta customers an experience that is designed to exceed their expectations.'

The Delta Reserve Credit Cards offer distinct benefits and options that allow Cardmembers to:

• Achieve higher Delta SkyMiles Medallion status faster:

• Earn MQMs as a first purchase bonus;

• Earn 15,000 MQMs and 15,000 bonus miles when eligible spending reaches $30,000 in a calendar year;

• Earn an additional 15,000 MQMs and 15,000 bonus miles when eligible spending reaches $60,000 in the same year.

• Give the MQMs earned from Card spending to colleagues, friends or family – for the first time ever.

Enjoy complimentary access to Delta's Crown Room Clubs with two guests when flying on Delta.

Access to the dedicated Breezeway priority boarding lane and frequent traveler security line.

Utilize American Express' Personal Concierge Service with features such as gift buying and restaurant reservations – 24 hours a day/seven days a week.

Receive one complimentary companion certificate each year on the Cardmember's anniversary, good for either First or Coach Class travel.

Access to Pay with Miles, a new exclusive benefit for Gold and Platinum Delta SkyMiles Credit Cardmembers -- and now Delta Reserve Credit Cardmembers. Pay with Miles offers added flexibility, allowing Cardmembers to redeem miles for any available Delta seat, any time. Cardmembers can book flights on delta.com and use Delta SkyMiles to pay for all or part of a Delta ticket, with no blackout dates or inventory restrictions.
Terms, conditions, and restrictions apply to these benefits. See www.americanexpress.com/deltareserve for details.

The Cards are available for an annual fee of $450. If a Cardmember is the Basic Cardmember of a domestic American Express consumer Charge Card account or of a domestic American Express small business charge card account that has an annual fee greater than or equal to $55, the annual fee is $395.

Consumers will continue to earn Always Double Miles® (i) on every eligible dollar they spend on Delta purchases, as well as at gas stations, supermarkets, drugstores, home improvement stores, and more.

The new Delta Reserve for Business Credit Card incorporates all the above benefits of the Delta Reserve Credit Card. However, the ability to earn Always Double Miles® (ii) on every eligible dollar spent includes the following business relevant categories: Delta purchases, gas stations, home improvement stores, wireless phone bill payments, and office supplies. In addition, the Business Card offers programs and services tailored specifically to the needs of small business owners. In addition, the Business Card provides expense management reporting, an online spend tracking system and spending limits on additional cards that aid in better managing employee spending..."

Enjoy!

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New Card Added: The Advanta Platinum with Rewards Customized BusinessCard

Advanta Business Credit Cards

We've just added the Advanta Platinum with Rewards Customized BusinessCard to the list of card we recommend at this website. We like this card a lot, not only because it's cool, but also because it comes with some very competitive terms and conditions.

Why is this card cool? Because, as far as we know, it's the only business credit card in the American market that you can customize with your own logo or a favorite image, and/or have your company name emblazoned with bold lettering at the top of the card.

If you want to transfer a balance to this card, you'll have to pay a balance transfer fee, but this downside is very well balanced with the upside of a 0% introductory APR on balance transfers for 15 months. Very competitive indeed.

And that's not all. The APR on purchases is a very competitive Prime + 0.24%. Now, it should be noted that the purchase APR cannot go lower than 7.75%, no matter how low the Prime Rate falls (Prime is currently at 5.25%, and is likely to be cut again on April 30.) A Clip from the terms and conditions:

...Your account rate for Purchases will be Prime plus a Purchase Margin of 0.24%...Your Variable Rate Index for any billing cycle will be chosen by us from among the Prime Rates published in The Wall Street Journal's "Money Rates" section during the three (3) months prior to the month which contains that cycle's Billing Cycle Closing Date, but will not be less than 7.75%...

Bottom line: despite these somewhat convoluted APR terms for purchases, the introductory and purchase APR's associated with this card are still excellent.

Other powerful features of this card:

• Choice of 5% Cash Back or Travel Rewards
  
  
• No Annual Fee
  
• No Limit on the Total Rewards you can earn
  
  
• $0 Fraud Liability

If you end up with this card in your wallet, feel free to revisit this blog entry and post your comments here. Thanks!

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Added New Business Credit Cards from Capital One

Capital One®

Two new, Capital One® business credit cards have been added to this website. The cards are:

• The Capital One Visa® Business Platinum
  with No Hassle Cash^SM Credit Card
  
• The Capital One Visa® Business Platinum
  with Preferred No Hassle Miles^SM Credit Card

I like these two cards. They each have a strong rewards program, and with both you get 0% intro APR on new credit card purchases for 12 months.

I also very much like the fact that Capital One doesn't play the universal default game. Considering how many banks play "follow the leader" with their terms and conditions, Capital One should be commended for not jumping on the universal default bandwagon.

Both Capital One cards listed above include the following in their terms:

"...We do not engage in a practice known as "universal default." Universal default permits a credit card company to increase your APR's solely because you fail to make a payment on a loan with another lender or your credit history contains other negative information. If we increase your APR's for any of the reasons disclosed above, we may review your credit history to determine (a) that we should not increase your APR, or (b) the level of the increase, if any..."

Other leading banks, including Citi®, are moving away from universal default, so perhaps the practice will be eradicated from the credit card industry at some point in the near future.

If you find universal default particularly irksome, you can always contact your Representative in Congress and/or your state's Representative in the Senate and let them know how you feel about it.

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New Card Added: The Home Advantage World MasterCard

Citi® Credit Cards

Recently added a new Bank of America card: The Home Advantage World MasterCard® with WorldPoints® Rewards. This card is similar to the Citi® Home Rebate Platinum Select® MasterCard in that accumulated rewards dollars are used to pay down a cardholder's mortgage balance.

I like these two cards. As long as the cardholder can pay his or her entire balance in full at the end of each month, these cards can really help homeowners improve their mortgage situation and, by extension, their finances in general. By paying down a mortgage balance with extra payments, or in this case with accumulated rewards dollars, homeowners can:

• Build home equity faster. This is crucial in the current U.S. real estate environment. The more equity you have in your home, the less likely you are to run into problems if at some point you want to sell, refinance, or get a second mortgage (a home equity loan or a home equity line of credit.) FYI: a number of experts have recently predicted that the American real estate environment won't improve until 2009.
• Lower the total amount of interest that will be paid on the loan. If you take the example of a $250,000 mortgage with a 30 year term and a typical interest rate, the savings can be in the many thousands of dollars. It's amazing how these things add up over time!
• Payoff a mortgage faster. This is optimal for anyone with a mortgage, but especially optimal for homeowners who plan on using the equity in their home to help fund retirement.

Currently, the fee for transferring credit card balances to the Bank of America Home Advantage MasterCard is 3%, with a minimum of $10 and no maximum. However, the card offers a 12 month, 0% Introductory Annual Percentage Rate (APR) on Balance Transfers and Cash Advance Checks.

With the Citi® Home Rebate card, you can transfer credit card balances at 0% Intro APR for 12 months, and, currently, you don't have to pay a balance transfer fee for the initial balance transfer.

Enjoy!

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New Card Added: The Clear from American Express Card

American Express Credit Cards

We've recently added a new credit card to the list of American Express credit cards we recommend. It's the Clear from American Express® card, and it offers 0% Intro APR on new credit card purchases for 12 months. The APR for balance transfers is 4.99%, with no balance transfer fee.

Yup, it would be great if you could transfer balances to Amex Clear at 0%, but 4.99% isn't that bad, considering the fact that it's 4.99% for the life of the transferred balance. Right now, the U.S. Prime Rate is 8.25%, so transferring a balance to this card can save a lot of people out there some serious cash (the APR for many credit cards in the American market is the U.S. Prime Rate plus a margin.)

The main selling point of this card is that there are no fees: no over-the-limit fees, no annual fee, no late fees, no balance transfer fees and no cash advance fees. As quoted from the American Express website:

"No fees of any kind."

However, if you are the type of person who pays their bills on time, all the time, then this "no fees" marketing strategy is almost meaningless, since a person like you is very likely to avoid such fees in first place. Of course, if you are the sort who sometimes misses a payment, or you go over your credit limit every once in a while, then you may be very attracted to the fact that the Clear card has no fees.

Though American Express won't charge you any fees for a late payment, they will report any late payments to the credit bureaus. Keep that in mind. Furthermore, if you are late with a payment more than once within a 12 month period, the folks at Amex may raise the APR associated with your account.

Another characteristic about the Clear card that should be noted: every year, you get access to a "user-friendly" credit report and credit score. A great feature -- no doubt -- but I failed to find out which credit score and credit report they're offering: is it TransUnion, Experian or Equifax? Or is it some other proprietary credit score and report? Hmmmmm... Please post a comment if you know that answer. Thanks!

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A New Business Credit Card from Advanta: The Life-of-Balance Platinum Business Card

Advanta business credit cards

Most consumer and business credit cards are indexed to the U.S. Prime Rate, which means that the Prime Rate is used a base or foundation rate for determining a credit card's annual percentage rate (APR). Finding a credit card with an APR that's close to the Prime Rate is not easy; finding a credit card with an APR that's lower than the U.S. Prime Rate is very rare.

So it's no surprise that we've been recommending the Advanta Platinum Business Card with Rewards Options for many months now: the APR is Prime minus 0.26%, and you can transfer credit card balances and pay no interest on the transferred balance for 15 months. It's a hot offer, but make sure your credit rating is up to snuff before applying, because with an APR below Prime, you can be sure that the folks at Advanta will be selective.

Advanta's New "Life-of-Balance" Platinum Business Card

We've added a new Advanta business card to the site. We like Advanta's new "Life-of-Balance" Platinum Business Card because the APR is quite competitive at Prime + 1.74%. But we really like the fact that you can transfer other credit card balances to this card at 2.99%, and the APR associated with the transferred balance will stay at 2.99% until you pay the transferred balance down to zero (you have to initiate the balance transfer within 3 months of opening the account.) The card also features a generous 6% cash back rewards program, or, if cash back isn't for you, you can choose to take advantage of travel rewards.

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If You Hate Fees, Then You'll Like The New Commerce Bank Small Business Credit Card

Commerce Bank

Have you had enough with credit card fees? Have you ever wished for a credit card that doesn't charge any fees? What if I were to communicate to you that there's a new small business credit card on the market that doesn't assess any of the following fees:

• Annual fee
• Late payment fee
• Over-the-limit fee
• Cash advance fee
• Balance transfer fee

Would you believe me?

Well, it's true. According to a recent press release, the folks at Commerce Bank are offering a new, small business Visa® credit card that is literally feeless. Believe it!

Now, I know what you are thinking: if a credit card doesn't have any fees, then the annual percentage rate (APR) -- the interest rate charged on outstanding credit card balances -- must be high. Well, here's another surprise for you: the APR associated with the new Commerce Bank Visa credit card is a reasonable Prime + 4.99%. So, if you were to signup for the new Commerce Bank business card today, the APR would be 8.25% + 4.99%, or 13.24%, which is quite competitive, considering the number of business and consumer credit cards out there which currently have APR's that are higher than 13.24% -- and some that are much higher!

If the absence of annoying credit card fees and a competitive APR aren't enough for you, here's another great feature associated with the new Commerce Bank business Visa card: it's a rewards card.

For more about the new Commerce Bank Visa credit card for small business, point your web browser to http://www.CommerceOnline.com. Here's a clip from a recent press release:

"...Commerce Bank, 'America's Most Convenient Bank,' and one of the nation's top small business lenders, has launched a new Visa® Platinum credit card for small business customers that carries absolutely no fees and provides a significant rewards program.

The new, no-fee credit card is the only small business credit card available that has eliminated all the membership and penalty fees typically charged by banks and credit card companies. Commerce small business Visa cardholders will pay absolutely no fees for this platinum credit card account:

• No annual fee
• No late payment fee
• No over-the-limit fee
• No cash advance fee
• No balance transfer fee
• No default pricing

The new Commerce Bank Visa credit card will enable small business owners to avoid paying unnecessary fees and better manage their cash flow.

'By eliminating ridiculous bank fees and penalties charged by other financial institutions, the new Commerce Visa small business card doesn't penalize business owners for being busy running their businesses,' said Commerce Bank Founder and Chairman Vernon W. Hill. 'Commerce Bank is proud to support small business, the backbone of our nation's economy, by offering the best and most convenient free products and services for small business owners.'

Commerce introduces the new small business Visa credit card at a time when most credit card companies and banks are charging more and higher fees than ever. A report issued in October 2006 by the U.S. Government Accountability Office (GAO) indicates that the average penalty in 2005 for making a late payment was $34 - a 115 percent increase from the average late fee of $13 in 1995. Late fees will make up about 70 percent of the industry's $17.1 billion in penalty-fee income this year, estimates R.K. Hammer, a bank-advisory firm. Additionally, CardWeb.com says that in the past decade, fees assessed for exceeding a credit limit jumped 138 percent, to an average of $30.81 last year.

The new Commerce Bank Visa credit card also enables customers to earn quadruple Visa Extras Rewards Points for every purchase made -- four points for every dollar spent; most rewards programs typically award only one point for each dollar spent. Rewards points can be redeemed for a variety of business, travel, dining and entertainment products, services and gift certificates from popular retailers and service providers.

Commerce Bank's no-fee Visa small business credit card will carry a low annual percentage rate (APR) of Prime plus 4.99%. Last month, the Office of Advocacy of the U.S. Small Business Administration reported a recent increase in small business loans, which came mostly from credit card use by small business. 'Access to credit is vital for small business survival,' said Dr. Chad Moutray, Chief Economist for the Office of Advocacy, commenting on the report. Noting the increase of both the number of micro business loans and the increase in the dollar amount of outstanding loans, Moutray stated, 'The small business credit card market continues to be quite dynamic.'

Commerce is one of the leading small business lenders throughout its footprint and beyond. The bank has supported the growth and prosperity of the nation's small businesses by providing more than $1 billion in loans over the last five years. Commerce has consistently ranked high among regional lenders in the industry in both dollar volume and the number of Small Business Administration (SBA) loans made, and the bank regularly surpasses its regional competitors in dollar volume of loans made to minority-, women- and veteran- owned businesses.

Commerce business customers enjoy the same convenience, advanced technology and personalized service as retail customers. Business owners and their employees can bank at 400+ retail locations, seven days a week, during extended hours, or via the Internet or phone 24 hours a day, 365 days a year. Commerce combines its community bank roots with the financial strength of a major regional bank to meet the diverse needs of commercial customers. Commerce Bank's lending professionals are local bankers making local loans, and they establish customer relationships focusing on service and the delivery of individualized financing solutions.

About Commerce Bank

Commerce Bank, 'America's Most Convenient Bank,' is a leading retailer of financial services with 400+ convenient stores in New Jersey, New York, Connecticut, Pennsylvania, Delaware, Washington, D.C., Virginia, Maryland and Florida. Headquartered in Cherry Hill, N.J., Commerce Bancorp (NYSE: CBH - News) has $45.3 billion in assets and in fiscal year 2006 achieved an 18% increase in core deposits, a 23% increase in net loans and total asset growth of 18%. For more information about Commerce, please visit the company's interactive financial resource center at http://www.commerceonline.com, or call 888-751- 9000..."

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New Offer Added: The Pulaski Bank Visa Gold Card

Credit Card

0% Intro APR balance transfer deals are great, but feeless (as in no transaction fee for transferring credit card balances) zero percent deals are even better -- much better! If you are partial to no-fee, zero percent intro APR offers, then we have some great news for you: we've researched and reviewed the Pulaski Bank Visa Gold Card, and added it as a recommended credit card here www.FedPrimeRate.com. Key benefits:

• 0% Intro APR on transferred balances for 6 billing periods
• No balance transfer fee
• No annual membership fee
• A very competitive "go to" rate (FYI: the go to rate is the credit card's annual percentage rate that takes effect once the interest-free period ends.)

It would nice if the zero percent intro APR feature associated with the Pulaski Bank Visa Gold Card included new purchases (à la the Discover Platinum card and the American Express INSIDE Rewards cards, et al.), but it doesn't.

However, it's important to note that the current "go to" rate with this card is highly competitive at 9.5% -- that's a mere 1.25% above the current U.S. Prime Rate. Compare the Pulaski Visa Gold's go to rate to this website's #1 choice: the Discover Platinum card, which has a go to rate as low as 10.99%.

If you decide to signup for the Pulaski Bank Visa Gold Card -- or if you already have one in your purse / wallet -- please feel free to post a review of the card by clicking the "comments" link below. Thanks!

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