Money Blue Book

Updated List Of The Best Discover Credit Cards Below

In the United States and Canada, most people are familiar with major credit card networks like Visa, Mastercard, and American Express. However, fewer people have had experience or exposure to another quiet, but big player in the credit card industry – Discover Card. Introduced in the 1980’s as the preeminent card of choice for the Sears department stores (the dominant retailer at the time), the Discover Card has had its share of ups and downs in terms of card acceptance and popularity, and has been facing a tough battle for its piece of the pie recently. Currently, Discover has the lowest market share of any major credit card issuer in the United States, and overall card acceptance at smaller stores and remote markets remain spotty. Most of the major merchant stores and retailers take Discover for payments, but smaller retailers and more obscure websites are less likely to accept it. However, despite the highs and lows over the years, the Discover Card has managed to evolve its program with attractive offers to grow with the times and remain continuously relevant.

The Discover Card was the first credit card I ever applied for and my first exposure to the use of revolving debt. I applied for the Discover Card back in high school during the height of its popularity, because at the time it was my parent’s primary credit card for everyday purchases. Since then, I’ve applied for other cards, but my old Discover Card remains a nostalgic favorite that I still use for niche purposes like gas credit card purchases or interest free transactions like 0% balance transfers. One thing I’ve noticed about Discover is the credit card program’s resiliency over the years in the face of stiff competition from giants like Visa and MasterCard. Despite the current credit crisis in the financial markets that has wrecked havoc and caused major pullbacks in card offers among major credit card issuers like Bank of America and Citibank, Discover has not retreated from its existing array of promotions.

Discover Card’s Benefits Include High Cash Back Credit Card Rewards and Attractive Balance Transfer Offers

Because of its relatively small share of the credit card market, Discover Card has needed to distinguish itself to consumers by offering more competitive reward credit card deals and more appealing 0% balance transfer promotions than most. The company has a history of frequently sending out mailers to prospective customers with tantalizing 0% APR and low interest balance transfer for life offers. Among the many benefits of carrying a Discover card, not the least of which is that the card has no annual fee, the card offers a relatively attractive selection of card offers to pick from. Discover Card currently has four line ups in its credit card offerings – the Discover More, the Discover Motiva, the Discover Open Road, and the Discover Miles card – and all four card types offer its own different reward and interest free benefits packaged into consumer, business, and student card variations. For example, the Open Road Discover card type appeals to drivers with its high cash back credit card reward rebate for gas purchases, and the Miles card appeals to business airline travelers or consumers who want to rack up frequent flyer miles quickly for free airline tickets. Other than the Discover credit cards issued directly by Discover, the company also issues Discover branded cards under the trademark of other major retail names like discount giant Walmart and wholesale warehouse Sam’s Club.

All Discover cards also qualify for high reward earning opportunities under the Shop Discover Card program. By shopping through the ShopDiscover website portal to visit its broad lineup of online stores such as Barnes & Noble, Sports Authority, Circuit City, and Hotwire, cardholders can earn extra rewards up to an additional 5-20% cash back on all purchases.

Exclusive Discover Business Credit Card Benefits Such As Free and Easy To Use Purchase Checks That Actually Earn Rewards

For its top business credit card line up, Discover also offers a very unique and intriguing benefit – the ability to write and issue fee-free Discover Card Purchase Checks. Sometimes, small business owners or entrepreneurs run into merchants or suppliers that do not accept credit cards. Discover PurchaseChecks work just like your regular credit card. When you encounter a store or retail merchant that does not accept credit cards or specifically, the Discover Business Card, simply write a check out to the merchant for the amount of your purchase. The check will appear with all your regular Discover Card transactions as a regular purchase, helping you with expense accounting and bookkeeping. Purchase Checks may be used to make any business related purchase when credit cards would otherwise not be accepted. Best of all, there is no fee or charge to use Purchase Checks and transactions are recorded as credit card purchases. All checks written get the standard interest rate offered to ordinary credit card purchases rather than the high interest rate demanded of cash advances. Quite remarkably, amounts written on Purchase Checks also earn credit card rewards, something almost unheard of among other credit card reward programs.

Of course, this raises a very interesting proposition and a rather sneaky idea for consumers and part time small business owners like myself. As we all know, consumers and non-business owners can apply for business credit cards by submitting their Social Security Number as their business ID on business credit card applications. As such, ordinary consumers can apply and qualify for business credit cards like the Discover Business Card to take advantage of benefits like  Purchase Checks. One interesting idea for credit card reward seekers would be to utilize rebate-earning Purchase Checks to pay the rent, which for many people is frequently in excess of $1,000 a month easy. For the rule abiding folks, the official stated policy of Discover Card is that PurchaseChecks may not be used to pay rent, but I guess it begs the question – how would Discover Card otherwise be able to realistically tell the difference between Purchase Check payments that you write to your landlord, and checks given to genuine business merchants? Just something to ponder about.

Current Acceptance Of Discover Card In the U.S. And Around The World

I don’t think anyone really thinks the Discover Card program is completely lacking in the way of credit card purchase rewards or 0% balance transfer offers. The knock against Discover Card has always been their seemingly weak acceptance and usage rate in the US and other foreign locations where Americans predominantly visit. Despite reportedly having over 50 million cardmembers in the Discover Network, unlike its more well known competitors like Visa or MasterCard, the Discover Card is neither widely issued nor widely accepted outside of the United States and Canada. Even in the US, while it’s accepted at most major locations like gas stations, supermarkets, mall outlets, department retailers, and online stores, it’s not always compatible with all retail merchants that accept credit card payments.

Undeterred, Discover continues to expand its adoption nationally and internationally, signing semi-exclusive agreements with certain major retailers, and partnering with big time credit and debit card networks in the US and overseas. Discover currently has a special card agreement with major retailers Walmart and Sam’s Club to issue store branded Discover cards. Per arrangement, wholesalers like Sam’s Club currently only accepts Mastercard and Discover, but not Visa or American Express. Despite the lack of international acceptance overseas, Discover has been making major inroads into countries like China, having recently signed a partnership agreement with card payment network China Union Pay (the largest credit card network in China) to accept Discover Card payments anywhere that displays the Union Pay logo. This means that you can pull out your trusty Discover credit card to pay anywhere that accepts China Union Pay.  Like Capital One credit cards, neither Discover nor Cap One charge extra interest fees for foreign credit card transactions, makeing them the best international credit cards to own. While places like China still remain primarily a cash based economy, card usage is growing rapidly and as China Union Pay remains at the forefront, Discover stands to enjoy unique growth potential in future market share.

Reviews Of The Top Discover Credit Cards (Consumer, Business, and Student) With Rewards and Balance Transfers:

1) Miles Card by Discover Card – Earn double reward miles on up to $3,000 in travel and restaurant purchases every year, and 1 mile for every dollar you spend on all other purchases. This offer is Discover Card’s best travel rewards credit card for earning frequent flier airline miles and free airline tickets. While this card is mostly about airline miles, you are also given the option to exchange earned miles for cash, travel credits, or gift cards – it’s up to you. Mileage rewards can be used to book free airline travel anytime with no black out dates or restrictions. There is no earning limit or maximum cap on the miles that may be earned, and all rewards you accrue never expire. There is also no annual fee. Currently, pursuant to this online offer, you can earn up to 12,000 instant bonus miles just for applying.

2) Discover More Card – (formerly the Discover Platinum Card) – Get 5% cash back bonus rewards with the Discover More credit card in categories that change and alternate throughout the year like gas, groceries, restaurants, travel, department stores, and home improvement stores. Plus, cardholders get an extra 5% to 20% cash back on purchases made at major retailers through Discover Card’s online shopping site, ShopDiscover. All other purchases automatically earn rewards, with unlimited 1% cash back on all transactions. The More Card features a 0% balance transfer offer for a year with a 3% fee. You can also earn an extra $50 cash back bonus when you apply online and make $500 in purchases within 3 months. There is no annual card fee.

Currently, the Discover More Card also comes in several different card designs, however their terms and conditions do not otherwise vary significantly:

• Discover More Card – This is the standard Discover More card variation that most people seek out and apply for.
• Discover More Clear Card – This variation features numerous modern art inspired card designs to select from.
• Discover More Sea Life Card - If you are a fan of Flipper, Little Nemo, or simply are a supporter of the ocean and the fish, dolphins, whales, and coral reefs that inhabit it, then this may be your card design of choice to express that support.
• Discover More Wildlife Card – This Discover More variation offers card designs that feature mostly land and air animals like wolves, eagles, horses, and seals.
• Discover More American Flag Card – This classic patriotic card design features the American flag on its face. Nothing screams American consumerism like a red, white, and blue credit card.
• Discover More Monogram Card – This custom credit card design features your own personal name initials displayed in large artistic lettering on the plastic card face.

3) Discover Motiva Card – Earn up to 1% unlimited cash back on all purchases with the Discover Motiva card. This particular card features an interesting twist on the usual credit card rewards program. Along with your normal cash back rebates up to 1%, each time you make 6 on time payments in a row, you’ll receive a Pay-On-Time bonus reward equal to a full month’s interest added to your cash back earnings. This is a very intriguing incentive to motivate you to pay off your card balance on time and earn extra bonus rewards in the process. As with almost all Discover card rewards, your cash back earnings can be doubled in value if redeemed through Discover’s network of online retail partners. There is no annual fee.

4) Discover Open Road Card – (formerly the Discover Gas Card) – Get a 5% cash back bonus on your first $100 in gas and auto maintenance purchases every month up to $1,200 in purchases each year. In addition to the gas rewards, cardholders earn unlimited 1% cash back on all other purchases. Plus they can earn 5% to 20% rebate rewards for spending money and making purchases at major store retailers through ShopDiscover. Rewards may be doubled when they are used to redeem for gift cards through a list of over 100 Discover retail store partners. There is no annual fee.

5) Discover Business Card – ($100 Sign Up Bonus) – With the Discover business reward card, you can receive up to 5% cash back rewards on office supplies, 2% on gas, and up to 1% on all other purchases. Cardholders can also earn up to 5 to 20% more in cash back rebates at top retailers through Discover’s exclusive online shopping website. Your purchase rewards can be doubled when you take them as gift cards or gift certificates from many of Discover’s online retail partners. There is also an introductory 0% APR offer on purchases for 12 months, and a low interest balance transfer promotion for 6 months. However, the best card feature is the ability to write fee-free Purchase Checks to pay merchants who don’t accept credit cards. As with most business card programs, cardholders also enjoy free employee cards with customizable card limits and monthly reporting metrics on their spending. There is also no annual fee.

6) Discover Business Miles Card – With the Discover business mileage reward card, you can receive double reward miles on travel and gas purchases up to $5,000, and 1 mile per dollar for everything else. Miles can be redeemed for airfare travel or reduced prices on airline tickets for most major U.S. based airlines, on any seat, with no blackout reservation dates. Miles can also be redeemed for cash or gift cards from a huge selection of brand name partner stores. Currently the card is offering an instant bonus reward offer of 12,000 bonus miles upon card application approval, along with an introductory 12 month, 0% APR offer for all purchases. Business owners, entrepreneurs, or regular consumers operating as sole proprietorships get access to Discover Card’s exclusive reward earning Purchase Checks that can be used to pay merchants that don’t otherwise accept credit cards. There is no annual fee.

7) Discover Student Card – With the Discover student credit card, cardholders get a 0% introductory APR on credit card purchases for 6 months, plus enjoy 5% cash back in categories that change throughout the year like travel, home improvement stores, department stores, gas, groceries, restaurants and more. Card holders also earn up to 1% cash back on all other purchases. The Discover Student Card is much easier to qualify for compared to regular consumer cards as it doesn’t rely on stringent income or credit checks.

• Discover Student Clear Card – Same as the regular consumer version of the Clear Card, but with lower credit limits and less picky credit approval standards.
• Discover Student Card Monogram Collection – Like the consumer version, this student version of the More Card features your name initials on the card as its design.
• Discover Student Card Tropical Beach – This card features all of the benefits of the standard Discover More card, but with a tropical beach card design.
• Discover Student Open Road Card – Student version of the Discover Gas credit card that earns extra cash rewards for gas and auto repair related purchases.

As a stereotypical male, I seem innately handicapped when it comes to performing certain tasks – “confusing activities” that include shopping and picking out the right gifts for the right occasion. I’m sure there are some men out there who love to cruise the malls and spend hours window shopping to their hearts’ content like most of the women I know, but I’m most definitely not one of them. I can engage in strenuous physical activities and participate in aggressive sports, but yet somehow, whenever I step foot in a retail department store, I quickly become fatigued. Somehow, I instantly become drained of all energy and stamina the moment I am faced with the grueling ordeal of mall shopping. Worst yet, I’m a terrible buyer when it comes to gifting – which is why gift cards and gift certificates are such a God send for people like me.

Despite all the negative impressions and opinions that some online commentators and emotionally sentimental pundits have regarding the negatives of giving gift cards as presents, I love having at my disposal the option of buying gift certificates and store vouchers as presents for people. While it’s true that gift cards are not the most particularly thoughtful present to buy for someone you really love or care about, they are incredibly convenient and financially versatile gifts for many people. For frugal savers like myself, gift cards present the perfect compulsory incentive and forced opportunity to buy and treat oneself when we’d otherwise choose to save the money instead. If you gave a naturally frugal person a cash gift, he or she would most likely squirrel away the monetary gift in a high savings account, completely defeating the purpose of the gift reward. But by presenting the person a gift card instead, you liberate the recipient from having to make the frugal choice, treating the friend to a well deserved material recess instead – something he or she would otherwise be reluctant to decide for him or herself. It’s the perfect gift for overly-frugal people.

Sentimentality and thoughtfulness aside for a moment, gift cards also help overcome the occasional embarrassment of secretly undesired gifts. In the past, I’ve had my share of bad gifts. While I always treasure the careful thought and loving goodwill put into selecting the gifts that I receive, sometimes, I am left secretly thinking to myself that I probably could have picked out a better digital camera model or a more appropriate colored tie for myself. More often than not, the gift usually winds up permanently sitting on top of a shelf or inside a drawer somewhere, never to see the light of day again, or until it’s needed again because I need to show the original giver that I still had the gift and hadn’t thrown it away or sold it on eBay. That is why I have always been a huge fan of receiving gift cards for certain stores and retailers that fit my natural purchasing niche – popular stores with staying power like Best Buy, Macy’s, and Target. Generally, gift cards are incredibly easy to give and incredibly easy to use, and there are many circumstances when they make ideal gifts. Of course, as with all potentially good things, there are critics and detractors.

The Problem With Gift Cards And Why Many People Seem To Dislike Them

1. Upfront Charges and Maintenance Fees – Despite their immense popularity, many consumers avoid buying gift cards and handing them out as presents because they are leery of having to pay upfront gift card activation charges or having to contend with the hassle of keeping track of inactivity fees that have the potential to take significant bites out of the gift card balance. The worst case scenario involves nightmarish gift card issuers that slap hefty charges just to activate a gift card so it can be used, along with stiff fees for periods of inactivity, as well as pricey balance debits for account maintenance reasons. The worst offenders tend to be credit card or bank issued gift cards from issuers like Bank of America or American Express. Compared to regular retail store issued gift cards, these bank issued cards tend to be more notorious for imposing extraneous charges for transactions like non-usage and account balance checking.
2. Expiration Dates – One surprising aspect about gift cards that have historically turned many off from their use are the expiration dates that they used to levy. In states that allow gift card expiration dates, the gift card holder must use up the gift reward card within a certain amount of time or the card becomes useless. However today, many states have enacted various gift card consumer protection laws prohibiting expiration dates and unexpected fees on gift cards sold, at least for a certain extended period of time.
3. Interest Free Loan To Retail Stores – If you think about it, the purchase and use of gift cards is actually pretty silly. After all, why spend cash to buy something with the same transactional value as cash, but with substantially less flexibility and greater restrictions? Furthermore, when you buy a prepaid gift card, what you are essentially doing is offering the gift card retailer what amounts to a free 0% interest gift card loan. Until the prepaid gift card is redeemed by the recipient and actually exchanged for merchandise, the retailer is basically earning interest off of the money previously paid by you. The retailer is under no obligation to pay the amount back in the form of retail merchandise until the gift card’s affirmatively offered up for redemption.
4. Danger Of Gift Card Bankruptcy – Most recently, the issue of major retailers going bankrupt or going out of business has become a major headache and concern for holders of gift cards (the same way airline bankruptcies have wrecked havoc with airline ticket holders). As a gift card holder, you are essentially an unsecured creditor and like shareholders, are near the bottom in terms of money recovery during bankruptcy proceedings. When you buy a gift card from a retailer or company that goes out of business or ultimately files for Chapter 7 or Chapter 11 bankruptcy, the gift card recipient usually ends up with a card that’s worth less than the face value. While during a bankruptcy restructuring, a company may attempt to stay in business and continue to honor gift cards, some may not. In such a dire scenario, all gift cards would be rendered completely worthless. Obviously, the best way to minimize the chances of ever being caught in such bind is to always spend your gift cards quickly and not try to save them for a rainy day.

How To Buy Discount Gift Cards Online – And Tips For Using Gift Cards Smartly and Efficiently

1. Choose Retail Store Gift Cards Over Bank Issued Gift Cards – It’s important to know and understand the differences between gift card policies from banks and credit card issuers, and those issued by traditional store retailers. Gift cards and gift certificate rewards issued by banks and credit card issuers like Visa, Mastercard, and American Express tend to offer substantially more flexibility than retail store gift cards since the bank-issued gift cards can be used anywhere that credit cards are generally accepted. However, with the greater versatility comes higher fees, more upfront charges, and more annoying expiration date worries compared to the gift cards issued by traditional retailers. Unlike bank issued gift cards, the great majority of retail store issued gift cards do not impose expiration dates, and significantly fewer of them contain activation fees, or impose charges like inactivity fines or periodic transaction maintenance costs. Clearly, retail store gift cards offer much better financial value than bank issued gift cards despite their more restrictive terms.
2. Read the Gift Card Terms and Conditions Carefully Before You Buy – As with all things in life, there are contractual fine print terms and conditions that must be carefully read and headed. Always understand the rules of your gift card purchase before you buy. While oftentimes the terms and conditions are rather self explanatory, gift card buyers need to pay special attention to the existence of any potential activation charges, hefty monthly inactivity fees, or annoying expiration dates. If you are not clear on something, ask the gift card issuer before you buy.
3. Don’t Hoard, Spend Your Gift Cards Quickly – Once a prepaid gift card has been purchased, it should be treated like cash and redeemed as soon as possible. Try not to leave the gift card hidden and forgotten inside a wallet or purse as is commonly the end result of many misplaced gift cards. The longer you delay, the more you expose yourself to possible gift card balance forfeiture possibilities in the event of unexpected retail bankruptcies or program cancellations. In a tough economic recession, you never know which company may struggle and suddenly stop honoring its outstanding gift cards or gift certificates.
4. Be Extra Careful When Purchasing Discount Gift Cards Online – Because gift cards are so popular, there is a huge market for them on online auction sites like eBay where heavily discounted gift cards for places like Costco, iTunes, Home Depot, and Walmart, are often up for sale and exchange. If you are seeking the best discount gift card offers, buying them online is the best way to go as online auction sites tend to offer steeper discounts and rebates than traditional brick and mortar retailers. When seeking the best eBay deals and bidding on online gift card auctions, the higher the gift card denomination, the greater the potential discounted savings to be had (frequently 5-20% off). However, it’s important to bear in mind that while online gift card shopping may reap higher savings, there is a greater potential risk of loss. Online scammers and fraudsters abound and counterfeit gift card sellers exist, even on reputable online sites such as eBay or Craigslist. Generally, for the risk adverse, the most reliable way to buy a gift card is to purchase them from reputable retailers or from the original retail store.
5. Buy Gift Cards With Reward Credit Cards For Extra Savings – Certain reward credit cards offer up to 5% cash back rewards for purchases made at special category retailers like supermarkets, grocery stores, gas stations, drug stores, or restaurants. Particularly at certain high reward retailers like grocery stores, many sell gift cards good towards other popular retail and department stores with few activation fees or maintenance charges. By buying popular retail gift cards to places like Best Buy, Bed Bath and Beyond, or Macy’s from merchants like grocery stores or restaurants using qualified reward credit cards, you can engage in a form of credit card arbitrage by buying a discount gift card for a up to 5% off the gift card’s face value, and easily pocket the savings.
6. Keep Your Gift Card Receipt, Or Give It To The Recipient – Always keep your gift card purchase receipt or give it to the intended gift card recipient to preserve all options in the event of gift card expiration, misplacement, or card theft. While some retailers will not replace lost or stolen gift cards for any reason, most are willing to accommodate provided you can offer up the original purchase receipt. If for whatever reason your gift card expires before you’ve had the chance to use it up in full or exhaust its value, you may also be able to contact the issuer with your receipt and potentially get a limited time extension (after paying a possible fee). If the option is available, you should register your prepaid gift card if recommended to do so as it will help protect your recovery rights in case your card gets stolen or lost.
7. Personalize Your Gift Card Present With Thoughtful Accessories – Those who want to personalize their gift card presents have options these days. Many major retailers are offering up creative and customizable packaging options for gift cards. If you want to give your gift card present a more thoughtful touch, you may want to consider packaging the card with another small gift the recipient may like – for example: including simple jewelry accessories like earrings or necklaces with clothing apparel store gift cards.
8. Consider Giving Cash Or Using Chinese Red Envelopes Instead – Because gift cards are essentially the exchange of cash for something that’s supposed to function as cash, one possible alternative to giving gift cards as presents is to give out plain old cash instead. One creative way to exchange cash gifts is to present them in elegantly decorated Chinese Red Envelopes, known as “hong bao” in Mandarin Chinese. These red envelopes, stuffed with money bills, are commonly given by the Chinese as presents for special occasions like New Years and birthdays. While I don’t think our society is quite there yet in terms of new approaches to cash gifting, it’s still an interesting multi-cultural trailblazer route to consider.

Updated List Of The Best Christmas Credit Card Offers With Shopping Rewards and 0% APR Deals Below

Well it’s almost that time of the year again. No, not tax season – I’m talking about Christmas! For many Christians, Christmas is first and foremost a deeply religious holiday tradition that celebrates the birth of Jesus Christ. For the vast majority of folks though, the Christmas holiday season is all about shopping, buying gifts, and exchanging presents. The incredible compulsion to shop till you drop is so potent and all pervasive because the holiday starts so early and ends so late. Currently, the winter shopping season starts on Black Friday, the day after Thanksgiving when retail stores unleash their tidal wave of heavily discounted sales and free giveaways to jump start the holiday shopping race. Black Friday is quickly followed by Cyber Monday, when online shoppers take to the Internet airwaves after their Black Friday shopping binges to seek out the best online shopping deals and offers. Helped along by the shopping demand of other winter holidays like Hanukkah, the cycle of Christmas bargains and shopping deals doesn’t let up until well into the new year. Even then, hardcore shoppers still continue to raid the retail outlets and department stores for leftover holiday closeout sales and bargains.

Overwhelmed by the sheer number of retail store sales, promotional discounts, and limited time offers during the Christmas shopping season, it’s no wonder the amount of money spent on Christmas presents for many far exceeds the seasonal spending rates of other holidays during the rest of the year. Whether it’s the strong social pressure to buy more and more expensive gifts for friends and family, or whether it’s the competitive aspect of obtaining that perfect gift for your child (talking Elmo, Nintendo Wii, or Playstation video game system for example), we all seem to succumb to the inevitable Christmas shopping craze in one way or another.

Take me for example. I’m ordinarily a frugal shopper throughout the year, preferring to stay conservative and disciplined in my purchase habits. However, even I tend to let go a little bit during the Christmas months. That’s why as much as I enjoy the Christmas holiday festivities along with the cheerful sights and sounds, I often secretly dread this time of the year. Despite my better judgment, I know my frugal wits are likely to be laid to waste when all is said and done due to societal gift exchanging pressures. However, it’s important not to get too carried away with our shopping exuberance, lest we risk falling into a serious financial trap when the bills come in. Like an alcoholic hang over, the actual party and festivities may be quite enjoyable, but the post game reality may be too difficult to handle if you’re not smart with your wallet and spending decisions. That’s why it’s more important than ever to hold onto your financial senses and not abandon your frugal, deal hunting ways. During this time of year, online cash back deals, shopping coupon codes, and all sorts of discounts and promos abound – and it’s important to seek them out.

Christmas Shoppers Maximize Their Money With Cash Back Rewards and 0% Credit Card Offers

Like it or not, it’s an undeniable trend that more and more consumers are utilizing the convenience and shopping incentive perks of credit cards to make their Christmas purchases. Frankly, it’s not hard to see why. Credit cards offer a higher degree of ease and convenience compared to cash.  Because of online credit card tracking, it’s much easier to budget, analyze, and control your spending during the holiday season when all of your purchases are charged to your credit card. Due to the extensive fraud and unauthorized purchase protections offered by major credit card issuers, credit card purchases also tend to enjoy greater security oversight and more liberal return policies than ordinary cash purchases.

However, probably the number one reason why holiday shoppers utilize credit cards to do their Christmas shopping is to earn cash back credit card rewards and to take advantage of attractive 0% APR deals that allow them to make interest free credit card purchases for an introductory period of time. While those who struggle with credit card debt ought to stick with cash spending, those who have a good track record of responsible credit card use have the potential to save a sizable amount of money through credit card spending rewards, and enjoy a degree of financial flexibility with interest free shopping. Remember, unlike the use of balance transfers, you must actually charge purchases to your reward credit card to earn incentive rewards, and you must use it to make purchases to take advantage of any introductory 0% APR rates. Never use your credit card to request cash advances. Cash advances are almost never included in any introductory rate promotions so avoid using them.

List Of The Best Credit Card Reward Offers and 0% APR Deals For Christmas Holiday Shopping

Cash Back Reward Credit Card Offers – Whether you opt for cash back cards or credit card point rewards redeemable for gift cards, cash, and airline travel, both offer cardholders the competitive opportunity to spend and save money at the same time. Reward credit cards that offer point rewards for qualified purchases tend to offer a higher reward rate than straight cash back cards, however they often require a bit more micro managing of reward redemptions. For those of you who need to do your shopping now, you may want to take advantage of the $100-$200 gift card promotions offered by a select number of credit card issuers for new applicants – check out my compiled list of credit card sign up bonuses.

In terms of credit card reward earning potential, bear in mind that most credit cards have programs geared towards certain types of purchases (such as grocery, gas, or restaurants) with higher reward percentages for purchase made with those merchants. However, because most purchases via the Internet and or made in malls and department stores do not usually qualify for one of these special higher rebate categories, they generally must settle for the default reward rate – generally around 1%.

Here is my list of the best Christmas shopping reward credit cards (I’ve bolded the percentage rate you will most likely earn for purchases made at online stores and at most brick and mortar department stores and malls):

1. Blue Cash® From American Express – Get up to 5% cash back for everyday purchases like groceries and gas, and up to 1.5% for everything else when you exceed $6,500 worth of usage. Prior to that you’ll earn 1% cashback.
2. Starwood Preferred® Guest American Express Card – Get 1 point for every $1 spent, redeemable for versatile hotel and airline travel rewards. Potential to earn up to a potential 1.25% back with bonuses.
3. Discover More Card – Get 5% cash back bonuses in purchase categories like department stores, travel, home improvement, gas, groceries, and restaurants, 5% to 20% cash back at retailers through Discover’s online shopping site, and 1% unlimited rewards for everything else. Earn a $50 bonus when you make $500 in purchases within 3 months, and with Discover’s special Christmas promotion, you can get $20 back for every $200 that you spend at participating mall locations.
4. Chase Freedom(SM) – Get 3% bonus cash back on gas, groceries, and fast food purchases for the first 6 months. Earn 1% cash back on everything else with unlimited rewards, no spending cap, no restrictions, and no expiration date.
5. HSBC Weekend Card – Earn 2% cash back rewards on everything you buy on Saturday and Sunday. During the rest of the week, you get 1% cash back for everything, with unlimited reward earning potential.
6. HSBC Platinum Mastercard Cash Back Rewards - Earn up to a potential of 2% cash back with a limit of $400 worth of rewards, or 1% unlimited cashback on all purchases depending on qualification level.
7. Capital One® No Hassle Cash(SM) Rewards Card – Get 2% cash back on purchases at gas stations and major grocery and drug stores, and 1% cash back on all other purchases, with no earning limit or expiration.
8. Fidelity Investment Rewards Visa Signature Card – Enjoy a full 1.5% back on all purchases with no merchant restrictions. Points can be redeemed for cash and deposited into your Fidelity brokerage account.

Credit Cards That Offer 0% APR Rates For Interest Free Purchases (Ideal For Christmas Shopping)

1. American Express Blue – 0% APR for purchases (up to 12 months)
2. American Express Blue Cash® – 0% APR for purchases (up to 12 months)
3. American Express Blue Sky® – 0% APR for purchases (up to 12 months)
4. American Express Clear Card – 0% APR for purchases (12 months)
5. Citi Platinum Select Card – 0% APR for purchases and balance transfers (both up to 12 months)
6. Discover More Card – 0% APR for purchases (6 months) and balance transfers (12 months)
7. Discover More Card – Clear – 0% APR for purchases (6 months) and balance transfers (12 months)
   
8. Discover Open Road Card – 0% APR for purchases (6 months) and balance transfers (12 months)
9. Capital One Platinum Card – 0% for purchases and balance transfers (Up until January 2010)
10. Capital One No Hassle Cash Rewards Card – 0% for purchases (until January 2010)
11. Chase Flexible Rewards Platinum Visa – 0% for purchases and balance transfers (both 12 months)
12. Chase Perfect Card – 0% APR for purchases and balance transfers (both 6 months)
13. Chase Platinum Visa Card – 0% APR for purchases and balance transfers (both 12 months)
14. Citi Business Card - 0% APR for purchases (12 months)
15. Citi Business Card With ThankYou Network – 0% APR rate for all purchases (12 months).  Extra bonus offer of 10,000 ThankYou® Points after $250 in purchases, redeemable for a $100 gift card.
16. HSBC Weekend Card -  0% promo rate for purchases and balance transfers (both 12 months)
17. HSBC Platinum Mastercard Cash Back Rewards - 0% interest rate for purchases and balance transfers (both 12 months)

Update: Check Out The New Visa Black Card For The Uber-Rich

What’s the deal with status symbols these days? While I’d like to think that I’m perfectly immune from the need to walk around and carry lofty symbols of wealth, power, and status on my shoulders, sheepishly, I must admit that I’m not. I don’t occasionally wear designer clothes or don expensive apparel brands solely for the quality threads, or dream of buying a BMW or Mercedes sports sedan for crash test safety reasons alone. After all, there’s something about rarity, uniqueness, and exclusiveness that beckons each of us at some point in our lives. Whether it’s the elite acknowledgment that one gets from being an alumni of a top tier Ivy League university, or whether it’s membership into an ultra exclusive golf club usually reserved only for top celebrities and the rich and famous, I’m sure many of us secretly envy at times, those who are in this special inner circle.

Actually, the notion itself is quite silly really – the idea that simply because you possess something unique that very few other people have, or have VIP membership into some special organization, that you are somehow better off than others or worthy of admiration. But it’s simply human nature I suppose. We all innately appreciate the attention and envy of others, whether we truly want to admit it or not. Don’t believe it? All you have to do is observe the rise and popularity of television shows like MTV’s Super Sweet 16 to see how the desire to be envied and praised is very much part of our society’s psyche and celebrity culture. If it were not for our humanistic lust for all things that glitter and our natural attraction to the glitz and glamor of all that surrounds the rich and powerful, we wouldn’t have such things as paparazzis and celebrity magazines. It’s because we as a society desperately seek to emulate the rich and beautiful that there are such things as status symbol cars and multi-million dollar mega mansions.

Thus there should be little surprise that there are even such things as one-of-a-kind credit cards that only a select few have the luxury of possessing. Whether it makes any real sense for anyone to go gaga over something as mundane as a limited edition credit card is up for debate, but it’s something that’s been glorified in the rising hip-hop culture and permeating our English vernacular, calling attention to itself.

What Is the Black Centurion Card From American Express?

The American Express Black Centurion Card (simply referred to as the Black Card by some) sprung out of an urban rumor in the early 1990’s about a super secret black credit card available only to a select group of rich and powerful celebrities. While the reality was that no such card existed, American Express ultimately played off the whispers and capitalized on the rumors, quietly creating the Amex Black Card. Its exclusivity compounded the rumors over time, leading to more and more outlandish claims about the benefits and perks offered to the holder. Perhaps you’ve seen the almost mythical Black Card touted in hip hop music videos or heard it referenced in other facets of pop culture, but you rarely see it out in the open. The card is definitely not widely available and unless you hang around or work with celebrities, famous people, or wealthy individuals, it’s unlikely you will ever see one in your lifetime.

The Black Centurion credit card from American Express is definitely a rarity in the marketplace and in some circles, is considered an impact statement. First of all, the card is almost entirely black, which instantly gives it a look that’s different from all the credit cards out there, and secondly, it’s not even made of ordinary plastic like most credit cards, but rather of a special aluminum, titanium mix, giving it a different feel altogether. There have been suggestions that the titanium composition of the Black Centurion Card even triggers metal detectors at airports, but obviously this hassle is easily circumvented by transporting the card or wallet via its own plastic container through the X-ray conveyor belt scanner.

While the card imposes a hefty annual fee, for those who can easily afford it, the Black Card offers a juicy wealth of exclusive card benefits, like special concierge services, exclusive travel benefits and perks, enhanced credit card rewards, frequent flier airline miles, cashback credit card bonuses, and the ability to harness almost unlimited spending power. Perhaps I’m blowing the card a bit out of proportion and making the card bigger than what it really is, but the card is definitely not for your ordinary credit card spender – it’s meant for whales and high rollers who spend a lot – in the tune of more than $250,000 a year. But one thing to keep in mind is that due to the status implications the card seems to convey, mere possession and use of the Black Card may cause the cardholder to unnecessarily stand out awkwardly in ordinary situations. Using the Black Card from American Express in an inappropriate situation may be like showing up at a family reunion in your flashy, gas-guzzling red Lamborghini sports car while your relatives and family members quietly chug into the parking lot with their fuel efficient Honda Civics. Of course, not everyone will recognize the Black Card and many may see it as no big deal – just one of many random credit card choices out there.

How Can I Apply For The American Express Black Centurion Credit Card?

If you are wondering to yourself, how does one actually go about requesting official information or submitting an application for the ultra exclusive Black Centurion card, you’re likely going to be out of luck. Membership into the Black Card club is by exclusive invitation only, based on either your celebrity reputation or your proven ability to be a big credit card spender. However, there are affirmative steps you can take to satisfy the qualification requirements to trigger a personal credit card invite. To qualify for such an invitation based on proven financial ability, you’ll not only have to prove yourself to be a high credit card spender, but you’ll also need to have an exceptional FICO credit score and credit report history, along with a hefty personal balance sheet of verifiable monetary assets. Here are the basic requirements to get an American Express Black Centurion Card application invite based on your potential purchasing power:

1) You Must Be An Existing American Express Credit Card Holder – The American Express Black Centurion Card is currently only available to select holders of American Express credit cards. Although it does not matter which Amex card type you have (whether Blue, Blue Cash, Blue Sky, Green, Gold, or Platinum), because of the high spending requirements to qualify, you will want a card with a very high credit limit. As such, those who qualify for the Black Centurion Card tend to be former holders of Amex Platinum cards, which offer the highest credit limits of all Amex card types. If you are not already an existing American Express credit card holder, you will need to apply for one of the following high credit limit cards and start racking up significant purchases in a short period of time:

• American Express Preferred Rewards Gold Card – You get 10,000 instant points after your first purchase. Earn rewards with no preset limit.
• American Express Preferred Rewards Green Card – Get 5,000 instant bonus points and earn shopping and travel rewards with every purchase, with no preset limit.
• American Express Platinum Credit Card – Earn 25,000 bonus points after spending at least $1,000 within 3 months. Get access to American Express’ personal concierge service and earn reward points with no pre-set spending limit.
• Business Gold Card From American Express Open – This is probably an ideal way to get a Centurion Black card special invite as you can put all of your business related expenditures and purchases on this one card.
• Business Green Rewards Card From Amex Open – Earn 5,000 instant bonus points with your first purchase. Earn rewards with every purchase with no preset spending limit.

2) You Will Need To Spend At Least $250,000 A Year On Your American Express Credit Card – If this amount is too much for you, you probably shouldn’t even think about trying to obtain a Black Card to begin with. With the hefty start up and annual maintenance fees, this card will only truly benefit those individuals who spend a significant amount of money on entertainment, on airline travel expenses, and on expensive hotel stays. This may seem like an impossible amount, but for those of you who run your own small business or frequently have large amounts of reimbursable business expenses to pay for, the high expenditure requirement is quite do-able. For those who have employees, paying a payroll management company via credit card and having them in turn pay the employees via check is another great way to charge everything onto your American Express card. Especially for those people like myself who use credit card rewards for Google ads and spend significant sums of money on online advertising through Google Adsense and other internet marketing programs, the $250,000 a year spending requirement is not out of the realm of possibility.

A major problem that many wannabe Black Centurion Card seekers have in reaching the $250,000 annual spending limit requirement on their existing Amex cards is that their current monthly credit card limit simply isn’t high enough to allow them to spend that much. To reach $250,000 a year, a cardholder would need to have a credit spending limit of approximately $21,000 a month give or take a few hundred dollars ($250,000 divided by 12 months). The solution to the insufficient credit limit hurdle is quite simple. Simply submit a check or online prepayment amount at the start of each month to American Express to cover your credit card expenditures for the month. For example, even if your actual credit card limit is only $10,000 or less, simply by submitting card payment of something like $11,000 in excess of the limit up to the magical $21,000 requirement will allow you to reach your desired $250,000 for the year. Of course, the assumption is that you will actually spend at least $21,000 minimum per month.

Once you have successfully spent over $250,000 a year on your American Express credit card, you may wish to contact American Express directly if they haven’t already contacted you with a Black Centurion card invitation. While there is a common misconception that you can’t actually solicit Amex for such an invite, truth be told, if you satisfy their financial spending requirements, the company will probably be more than happy to welcome you into their exclusive credit card club.

3) You Must Be Able To Afford The Black Card’s High Annual Credit Card Fees – Once you are approved for the American Express Black Centurion card, you will need to pay the setup charges and subsequent annual maintenance fees. While earlier charter members enjoy substantially lower fees, currently for new members, there is a one time $5,000 initiation fee for the primary card holder and an upfront annual fee of $2,500, for a total of $7,500 due at the end of the first billing cycle. Clearly, the Black Centurion card isn’t for ordinary middle class working folks who don’t have thousands of disposable income dollars to throw around like Monopoly play money.

What Are the Best Features and Benefits of The Amex Black Centurion Card, and Are They Worth The Significant Annual Maintenance Fees?

The American Express Black Card is available in both personal and business form, but the vast majority of holders will likely find its benefits and credit card perks to be highly business-oriented, particularly in the area of business client entertainment as well as airline and hotel travel. For those who wish to apply for the business credit card version as an individual, keep in mind that it is perfectly legitimate and acceptable for individuals operating as a sole proprietorship business unto themselves to apply for a business card using their own names as the name of their business. As a small business owner, it’s what I personally do when I apply for business credit cards.

While the detailed specifics and the terms and conditions of your program will vary somewhat depending on whether you carry the personal or business version of the Black Centurion Card, the features and benefits of the Black Card are essentially the same. The Black Centurion offers the card holder exclusive and automatic upgrades with a wide selection of airline carriers, hotel resorts, and cruise ship travel programs. But the greatest and most touted benefit is the Black Centurion Card’s concierge service and personal shopper program, which helps cardholders find anything they desire in the area of fine dining, personal and business shopping, and travel related bookings for things like airline tickets, hotel reservations, and rental car arrangements.

1) Personal Concierge Services – Those who can afford the financial rigors and high expenditure requirements of the Amex Black Card are likely accustomed to personalized service and attention, and the Black Card program is happy to oblige with its personal concierge service for cardholders. Via the services of an outsourced concierge provider called Circles, American Express provides personalized VIP attention for both its Platinum and Centurion Black credit card customers. However, compared to regular Platinum card carriers, Black Centurion members receive more dedicated and prompt attention, and are understandably given access to a more highly trained and qualified staff of concierge representatives.

Having a dedicated and attentive personal concierge allows cardholders to outsource the time and effort of purchasing airline tickets, making hotel arrangements, booking rental cars, planning vacation trips, making dinner reservations, haggling for concert tickets, and researching prices. The actual success rate that the personal concierge agent has in securing exactly what you are looking for is somewhat debatable, but presumably due to the prestige and financial clout of the Black Centurion credit card program, it stands to reason that the company likely has greater access to exclusive deals and arrangements with the top restaurants, concert shows, and sporting venues than ordinary individuals.

The personal concierge service is probably the most commonly used and most invaluable Black Centurion Card benefit for many. While some people point out that the concierge agents are not always the best at locating what the cardholder is seeking, there’s no denying that this is still a very convenient luxury to have at one’s disposal. Not only does the cardholder have access to the personal concierge service, but the cardholder’s family members, personal assistants, and secretaries have access to this card perk as well.

2) Airline Travel Upgrades – If you are a frequent personal or business traveler, you will definitely appreciate the automatic airline upgrades offered by the Black Centurion card. What this means is that if you purchase a regular economy class ticket on one of participating airlines, you are automatically upgraded to elite status – usually this means getting bumped up to business or first class based on seat availability. With business and first class seats usually being triple or quadruple the cost of ordinary coach class seats, it’s not hard to see why this is such a potentially invaluable card benefit. With automatic upgrades into the following elite airline and hotel travel programs, cardholders enjoy such perks as dedicated check-ins, priority boardings, extra airline mileage earning opportunities, and bonus hotel stay earnings:

• Continental OnePass Gold Elite
• Delta Air Lines SkyMiles Gold Medallion
• US Airways Dividend Miles Platinum Preferred
• Virgin Atlantic Airways Flying Club Gold
• Priority Pass Membership
• Hilton HHonors Gold

Black Centurion cardholders also get access to Continental Airline’s President’s Lounge, Delta’s Crown Room Club, and Northwest Airline’s World Club as well as exclusive and complimentary access to Priority Pass’ over 500 VIP airport lounges. Automatic elite car rental upgrades with popular car rental companies like Hertz and Avis are also complimentary and available to cardholders.

The American Express Black Card also provides members with a companion airfare program that offers cardholders free guest airline tickets when the Black Card is used to purchase tickets. Currently, you can request up to 4 complimentary companion airline tickets a year. Of course, there may be a few airfare restrictions and blackout dates.

3) Hotel and Resort Lodging Upgrades – Along with automatic airline travel upgrades to elite status, the Black Card also offers automatic hotel lodging upgrades at all participating hotels and luxury resorts. Through partnerships with over 500 worldwide luxury hotels and resorts, chances are you will likely enjoy elite upgraded status at most premium hotels and resorts like the Starwood Group (Le Meridien, Four Points, Westin, Aloft, Sheraton, Element, St. Regis, and W Hotels), Ritz-Carlton, Mandarin Oriental, Hilton, Leading Hotels of the World, Amanresorts, and Centurion Villas.

Unfortunately, a few of the greatest and most coveted Black Centurion Card perks of past years have since been eliminated from the program. Until a few years ago, Hyatt’s Diamond Elite Status and Starwood’s Preferred Guest Platinum status were automatically offered to cardholders. However, Hyatt Hotel has since left the program and the Starwood Platinum status privilege is no longer offered to card members – a great disappointment and upset to many cardholders as the Starwood frequent guest suite upgrade program was indeed one of the best around. Now, cardholders will no longer qualify for automatic free Starwood Preferred Platinum status, but will receive Starwood Preferred Gold status instead, which offers substantially less upgrade opportunities for members.

4) Retail Shopping and Entertainment Benefits – More likely than not, American Express Black Centurion Card members are likely prolific shoppers, whether for personal reasons, or for business purposes. Coupled with the dedicated and personalized concierge service, card members can solicit the services of personal shoppers and price researchers to help them locate any product or custom merchandise they desire. For those who enjoy frequenting luxury boutiques and high end retailers like Bulgari, Escada, Gucci, Harrods, Harvey Nichols, Neiman Marcus, and Saks Fifth Avenue, personal shoppers are available at such retailers for VIP attention. In some circumstances, entire stores may be reserved for your personal shopping pleasure so you can bypass lines and avoid crowds. For those who desire reservations at exclusive restaurants, tickets for hard to find entertainment shows and sporting events like the Super Bowl, your Black Card concierge is there to help you secure such coveted tickets. American Express has deals and exclusive arrangements with hundreds and thousands of restaurants to reserve tables for card members. With the Black Card, you will have greater access to so-called Gold Card events and premium luxury seating at concerts and events not ordinarily available to the general public.

Members also get automatic subscriptions to “Black Ink” magazine, an ultra exclusive publication that caters to the materialistic fancies of like minded wealthy clientele discussing such indulgences like luxury performance vehicles and exclusive dream vacation destinations. On occasion, as yet another complimentary benefit for coveted Black Card holders, American Express sends out free gift cards worth in excess of $500-$1000 to a variety of exclusive high end retailers. Amex has also been known to send out to Black Card customers, such gifts like expensive digital cameras and high end women’s jewelry.

Is The American Express Black Centurion Credit Card Worth The Hefty $7,500 Initiation Fee (One Time $5,000 Plus The $2,500 Annual Fee)?

First of all, if you are even asking yourself if the Black Card is worth the cost, this card’s likely not for you. Remember, to even qualify for an exclusive invite or to even satisfy the financial requirements to request membership, existing American Express card members need to spend at least $250,000 a year worth of credit card purchases. If your business or personal situation allows this type of high spending, chances are, a comparatively small $7,500 fee is unlikely to even register as a blip on your financial radar. Keep in mind, the American Express Black Centurion card is all about exclusivity and rarity. It’s a coveted financial item and the ultimate status symbol because it is only held by a limited number of wealthy individuals. The card should be regarded as a personal branding tool for those who can indeed afford the cost of carrying it. The automatic travel upgrades and complimentary perks and credit card rewards are certainly appreciated by card carriers, but it’s probably the exclusivity and status symbol of the Black Card that cardholders who can afford it covet the most. For ordinary consumers who do not have thousands and millions of dollars to throw around, the Black Centurion Card is a symbol of great excess waste and unnecessary decadence, but for the higher income types, it’s akin to driving around an expensive luxury sports car – it’s an attention getter for many.

But speaking from a cost benefit analysis perspective, are the benefits of the Black Centurion Card worth the one time $5,000 initial setup fee and the subsequent $2,500 fee year after year? After speaking to a few actual Black Card carriers and picking their brains a bit about what they find so useful and indispensable about the card, I have to conclude that the card is indeed worth the hefty annual fee, but only if you are a heavy business traveler or one who frequently engages in airline travel and hotel stays. The Amex Black Card is primarily business oriented and most of the airline and travel perks are geared towards upgrading existing travel accommodations into more comfortable elite offerings. For busy business types, the airline and hotel upgrades over the course of a year may very well cover the cost of the annual fee alone.

For those who primarily use the personal concierge services of the card for shopping research and entertainment reservation purposes, the cost benefit of the annual fee is more debatable as the cost is a bit harder to quantify. While American Express tends to provide better customer service for its cardholders than that of other credit card issuers, I think the concierge services is likely only useful in certain circumstances. For example, purchasing airline tickets is a breeze online and I find I can probably do a better job myself with a few keystrokes online than any concierge representative who isn’t as skilled at bargain hunting and deal finding. But for busy business types who have little time for mundane things like shopping research and price comparison, having a personal concierge at one’s beck and call certainly may be worth the cost of card membership.