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Chase PerfectCard™ MasterCard®

• 0% Introductory APR for up to twelve months
• No Annual Fee
• 6% rebates on all gas purchases at any gas station for the first 90 days
• 3% rebates on all gas purchases at any gas station thereafter
• 1% rebates on allother purchases made anywhere

Issuer : Chase Manhattan Bank

APR : 0% fixed APR for purchases and transfer balances

Introductory Period : 12 months

APR After Introductory Period : 14.24% variable

Cash Advance Rate : 24.24 % variable rate on cash advances

Annual Fee : $75

Credit Line Possible : The credit limit you can obtain on a Chase PerfectCard MasterCard is evaluated according to your credit rating and wealth.

Insurance included  :  The 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 PerfectCard MasterCard during which you do not have to pay interest on account.

The Best Thing About It – The Chase PerfectCard MasterCard has a superb rebate program to help you save money on gasoline.

The Worst Thing About It—The way the interest on this is calculated in a manner that is more expensive than other cards and there is a high annual fee.

Credit Rating Needed For Acceptance : Good.

Who Is It For?

This Chase PerfectCard MasterCard is mainly for people who want to save money on gasoline as well as enjoy the benefits of a card with accident, medical and legal insurance. It is not a good card for cash advances or carrying a balance and is intended to help you save money at gas stations.

The Benefits

You earn rebates on gasoline. You earn 6% rebates on all gas purchases at any gas station for the first 90 days, % rebates on all gas purchases at any gas station thereafter.

The Chase PerfectCard MasterCard earns money if used at ordinary retailers. You earn a point for every dollar spent at any retailer on any type of merchandise.

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 PerfectCard MasterCard 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 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 Chase PerfectCard MasterCard 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

There is a limit on your rebate.  You can’t redeem more than $15 in savings a month on gasoline.

The card has a short grace period. Many credit cards don’t begin to garner interest on purchases until thirty days after purchase.  This credit card gives you twenty days.

The introductory rate for the Chase PerfectCard MasterCard 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. 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 Chase PerfectCard MasterCard. The way the interest is calculated it could be a very expensive card if you did not pay it off in total each month.

 

Fees To Watch Out For

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

Additional cardholder fee :  $20

Over The Limit fee : $39

Cash advance Fee : 3%, $10 minimum

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

 

To Summarize:

The Chase PerfectCard MasterCard comes with a 0% introductory rate towards purchases and balance transfers; no annual fee and a rebate program that helps you save on gasoline.  You also get cash rebates of 1% every time you use the card at any retailer.  The APR is high after the introductory rate expires and it is not a card that you would want to carry a balance on or take out cash advances with.

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