Chase Perfectcard Posts Cash Rebates Direct To My Account! 3% Rebate on Gas!
Written: Sep 30 '05 (Updated May 27 '06)
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Pros: 3% rebate on gas, 1% on everything else, applied to account, no fee
Cons: None
The Bottom Line: This is a great card, use it wisely.
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| Saxguy's Full Review: Chase Manhattan |
I’ve been using this particular card for a few years, after first hearing about it in the Wall Street Journal. The feature that attracted me was a 3% cash rebate on gas purchases, applied to the account. During the first 90 days, the rebate is 6%. However, all other purchases earn a rebate of 1%. All rebates earned are posted directly in the following month against the balance due.
This card has a Mastercard logo.
Compared to other rebate/reward cards that I am familiar with, the Chase Perfectcard has the following advantages:
1. No Limit On Rebates
Some cards, like Citibank Dividend Platinum, offer high rebates but have a limit on how much can be earned annually. So, I use that card with it’s 5% rebate for groceries until I reach the $300 limit. This card had no limit, so I can charge what I need and get the 1%.
2. Rebates are applied to the outstanding balance
Citibank and my other Chase card, the former Bank One Reward Card require that I call in to get a rebate check. The Chase card will only issue rebate checks if the balance is $25 or more. This card calculates the rebate and applies it as a payment in the following month, thus giving me the benefit without me taking any action to collect it.
3. No fee
This card does not have an annual fee. While none of the other cards I mentioned above have an annual fee, some do.
As is the case with many credit cards, no interest is charged on purchases if the balance is paid off in full every month. I pay my balance off in full every month and that is what I recommend. If you are unable to pay the balance in full, then you need to get rid of the credit card, come up with a realistic family budget to control expenses and look for less expensive forms of debt for temporary needs, such as personal or home equity loans. For me, this card carries a current APR (annual percentage interest rate) of 16.74%, but again, that doesn’t matter as I pay in full every month.
I have not had to call customer service much, but they have been available and helpful the few times I have called. Most recently, I needed the replacement card expedited when the card expired and they were helpful.
As a chase card, they offer typical online services including electronic payment and statements, download into Quicken, online activity, etc. This card has become particularly convenient because, now that Chase has acquired Bank One, I can access it from my main Bank One web page.
Cash is king. I really don’t need any discount rewards for certain stores or vendors. I would rather have the cash and, better yet, have the cash applied to my account.
So, I think I might move some transactions away from the other Chase card to this one so the rebate can be applied to the outstanding balance.
I recommend this card highly if you are able to pay the balance monthly.
You may apply at www.chase.com/creditcards
You can also COMPOUND your rebate with many vendors by purchasing therough vendors listed on the Ebates web site.
For more information, please check out my review of the Ebates site.
You might be interested in some of my other reviews:
Citibank Rebate Credit Card - 5% rebate on groceries!
Chase Bank
GMAC Mortgage
Prudent Speculator investment newsletter
T. Rowe Price Brokerage
Checkfree Billpay service
Like a Monster Movie (on Safeco Homeowners Insurance)
How to Trash Three years of hard-Earned Goodwill in Two Poorly Planned Weeks(on DHL)
There’s A Reason Why The Justice Department Shut Them Down (on KPMG Tax Services)
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Thanks for reading. God bless!
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Recommended:
Yes
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