Chase PerfectCard™ MasterCard Review | CreditShout

Chase PerfectCard™ MasterCard Review

By Kevin / November 5, 2008

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Verdict: Some credit cards have complicated rewards systems. The Chase PerfectCard™ MasterCard

Rewards

The Chase PerfectCard allows the card holder to earn six percent rebates on fuel purchases for the first sixty days. After sixty days, this rate reduces to three percent on all fuel purchases. For all other purchases that are not related to fuel, the card holder is given a one percent rebate.

When a certain level is reached, these rebates are than applied to the card balance. Finally, a card that allows the card holder to earn the rewards in an uncomplicated and simple manner! Contrary to many other rewards card that entail complex rewards systems, PerfectCard allows the user to create an automatic redemption which can help you pay down the balance each month.

As An Added Bonus

As an added bonus, this cash back card allows you to put more money to debt repayment by your standard monthly purchases.

On a monthly basis, your rebates will be applied to future purchases. Use this easy redemption process to save time, and money!

Fees and APR

With the introductory bonus offer of six months 0% APR for balance transfers and purchases.

After this introductory period, the interest and balance transfer rate increases to 10.49% for the elite members, 14.49% for the premium members and finally, 19.49% variable. From account opening, the variable interest rate which is applied to the account is 19.49%, depending on the credit rating and the history of the account the interest rate will change from 14.49% to 19.49%.

Fees for cash advances range from 20.49% to 24.49% depending on the credit rating of the card holder. Many customers are unaware that 3% of the cash being taken as an advance from the credit card is applied as a fee, along with the interest rate for the cash advance. Beware of using any credit card for a cash advance, especially this one that charges the additional 3% one-time fee of the credit card cash-advance fee.

Balance transfers come with the cost of 3% of the amount being transferred, with a minimum fee of $5.00. This fee is added on to the balance that is being transferred.

There is no annual fee for the Chase PerfectCard credit card. Balances are computed on a daily basis and are taken into account with the twenty day grace period on purchases with the Chase PerfectCard credit card.

There are many fees which the customer must research, that come along with this credit card. It’s a good thing that the rebate is offered, as it can help to cover the many fees. Don’t go over the limit, like many other credit card offers, going over the limit can warrant a fee of $39.00. Did you know that two times over the limit of the credit card, or two times that payments have been missed than the credit card company has the right to up the APR?

For international transactions, there is a 3% service fee added on to the transaction. Like the other fees, it is computed by taking 3% of the total cost of the transaction. Watch out for these fees, be sure to check your statement to make sure you aren’t being overcharged!

Benefits

1.    6% rebate on fuel purchases for the first sixty days
2.    1% rebates wherever you use the card
3.    Six months no interest on purchases and balance transfers
4.    Rebates are automatically applied to the balance of the card, making it easier for customers to keep track of their rewards on their monthly statements.

The Decision

For rewards easier than they have ever been before, PerfectCard offers easy and automatic redemption. As with many other credit cards, there are numerous fees and rewards offered. The Chase PerfectCard offers standard rebates of a cash back card – and is fine for those with medium to good credit ratings and FICO scores.

The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site

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