If you remember the Diner's Club card, you're probably a Baby Boomer. Originating in 1950 and claiming to be the first American credit card, it has long faded from its glory days as a "jet-setter's" favorite financial accessory. Maybe it was your first credit card, too. How times have changed. According to research by the University of Michigan Law School,...
|Annual Fee||No annual membership fee.|
|APR, Variable||12.24% – 19.24% Variable|
|Cash Advance APR||21.24%|
|Intro APR Promotions||0% 6, 9 or 12 Months|
5% cash back at U.S. office supply stores;
5% cash back on wireless telephone services purchased directly from U.S. service providers;
3% cash back at U.S. gas stations;
1% cash back on other purchases
5% and 3% apply to purchases up to $12,000 in each of the 3 industry categories per year. Cash back earned is automatically credited to your statement.
See card issuer's website for details about terms and conditions of offer.
Excellent Credit Needed
- 0.0% introductory APR for 6 months, 9 months or 12 months, based on your creditworthiness.
- No annual fee
- No overlimit fee
- No complex point system; cash-back is automatically credited back to your account each month
- 2.7% foreign currency transaction fee
- Few perks and travel rewards compared with other business credit cards
The Simple Dollar’s Review
If the main concern with your enterprise right now is saving money, then this could be the right business card for you. It’s got no frills, no annual fees, it simply gets you a great savings: 5% cash-back on office supplies and cellphone service, 3% back on gas station purchases, and 1% back on everything else. The cash-back is automatically credited to your account at the end of each billing cycle.
No points; no conversion; no hassle. Cash-back on office supplies, cell phones and gas at the 5% and 3% rate is capped at $12,000 per year, so if you spent the maximum of $12,000 in each category, then you’ll save $1,560 a year, not to mention all the savings from your 1% cash-back on everything else. On top off all that, you’ll also appreciate the 3% to 10% discounts on purchases with partner retailers like FedEx and OfficeMax through the OPEN Savings program.
You’ll also enjoy free rental car insurance and roadside assistance, which is great if you spend a lot of your time on the road. But this is no fancy rewards card. Some business and concerts. If all that doesn’t interest you and you’re a more practical and thrifty business owner, then this card was designed for you. There’s nothing expensive or complicated, it’s just a reliable credit card that saves your business money.
Cash-back credit cards turn the oft-repeated phrase "make your money work for you" into a reality. By just enrolling, you can enjoy perks like a $100 sign-up bonus and earn cash with every swipe of the card. It's no wonder people are signing up in droves. A widely cited TNS Global Financial Services study found that more than half...