CreditMe.com

Chase Business Rebate Card

• 0% APR for up to 12 Months* on purchases and balance transfers
• No Annual Fee
• 3% Cash Back for purchases at restaurants, gas stations, office supply stores, building supply stores, hardware and home improvement stores
• 1% Cash Back on all other purchases

Issuer : Chase Manhattan Bank

APR : 0%

Introductory Period : 12 months

APR After Introductory Period : 14.24% variable

Cash Advance Rate : 24.24 % variable rate on cash advances

Annual Fee : $0

Credit Line Possible : The maximum credit is $35,000.

Insurance included  : The Chase Business Rebate Card includes extended car rental and warranty coverage on services and purchases for up to a year.

Financing Configuration – The finance charges applied use the "Two Cycles Average Daily Balance" method, which is a more costly method in applying finance charges for those who occasionally carry a balance as compared to the "Average Daily Balance" method used by most card issuers.

Grace Period – You have twenty days after making a purchase with your Chase Business Rebate Card during which you do not have to pay interest on account.

The Best Thing About It –You earn a 3% cash rebate participating home improvement, business supply and hardware services and 1% off when you use the card anywhere else.

The Worst Thing About It—The way the interest on Chase Business Rebate Card calculated is more expensive than with other cards.

Credit Rating Needed For Acceptance : Good.

Who Is It For?

The Chase Business Rebate Card is designed for those with very good credit who are looking to consolidate business related expenses with one credit card while at the same time earning 3% rebates at office supply stores, hardware and home improvement stores.

 

The Benefits

 

You can earn up to 3% cashback. There is the potential to earn up to a 3% cash back reward just by using the Chase Business Rebate Card at participating merchants.

You can earn one dollar for a point on all other purchase.  You can earn 1 point per dollar on every other type of purchase.

Duplicate Chase Business Rebate cards are free. You are not charged for additional cards.

You can request expense reports. Expense reports are available on a quarterly basis if you don’t want to keep track of things online.

Keep track of all of your business expenses online. You are also able to monitor what goes on in your Chase Business Rebate Card account with full access to an online account report.  A full expense report can be requested at the end of the year.

You have theft or card loss protection.  Emergency card and cash replacement is part of your credit card agreement.

You have plenty of travel insurance. The Chase Business Rebate Card comes with auto rental insurance, roadside assistance and a car rental damage waiver.

You can benefit from extended warranty protection. If a product fails you have warranty protection up to $300 as long as you apply for this within a year of purchase.

The card has zero liability for fraud. If you claim someone has stolen your card then you do not have to be liable for the usual $50 that is usually deducted.

 

The Drawbacks

 

The rebate has a maximum.  You will stop earning the rebate after you have earned $20,000 on qualified purchases.

The introductory rate for the Chase Business Rebate Card is not guaranteed. If you make a late payment on any bill, not just your credit card bill, your introductory 0% rate can be replaced with the costly prime rate. The bank also reserves the right to shorten the term of you introductory period if you do not make a timely or full payment.

No APR is guaranteed with the card. APRs may change to higher APRs, fixed APRs may change to variable APRs, or variable APRs may change to fixed APRs with a month’s notice.

All payments you make to your account will be applied to lower rate balances first. This makes it easy to get into debt.

The introductory rate can be cancelled at the discretion of the Chase Manhattan Bank. You will lose your introductory rate if you exceed your credit limit or are late with a payment or if there is a negative comment on your credit report.

It could be expensive to carry a balance on the Chase Business Rebate Card. The way the interest is calculated it could be a very expensive card if you did not pay it off in total each month.

This card has many hidden fees.  See the Fees to Watch Out For section below.  The fees charged for your every little financial transaction can really add up and make it seem like you are paying an annual fee anyway.

Fees To Watch Out For

Late payment fee : $15 if balance is less than $250; $39 if balance is $250 or more

Over The Limit fee : $39

Cash advance Fee : 3%, $10 minimum

Balance Transfers : 3%. $5 minimum, $75 maximum

To Summarize –

The Chase Business Rebate Card has no annual fee and the rewards program is very flexible and can be used everywhere. This card also provides a 0% introductory rate for the first twelve billing cycles on purchases and balance transfers. However, once the introductory rate expires, the rate is ridiculously high.  It is best for a consumer who can pay in full each month. It is also not a good card to take out cash rebates on.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0%	12 Months	14.24%	None	Yes	Good Credit