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IN:CHICAGO(SM) from American Express

• Earn one INSIDE^SM Rewards point for every eligible dollar you spend, whether you’re in Chicago or not
• Earn double INSIDE^SM Rewards points when you use the Card for city essentials like dining, movie tickets, cell phone service, cable and satellite TV service, gym memberships, and newspaper and magazine subscriptions
• Redeem points for rewards to eat, drink, and play in Chicago, New York, and Los Angeles
• Points have no expiration date, there’s no limit to the number of points you can earn, and you can redeem points for rewards in Chicago, New York and Los Angeles
• 0% APR on purchases and balance transfers for 6 months

Just The Facts –

Issuer :  American Express

Introductory APR :  0%

Introductory Period : 6 months

APR After Introductory Period :  12.24% Variable

Cash Advance APR :  23.24% Variable

Annual Fee :  None.

Credit Line Possible : $100,000

Insurance included :  Auto rental insurance, a purchase protection plan, extended warranty, return protection, identity theft protection and up to $100,000 in travel accident insurance are offered with IN : Chicago From American Express

Financing Configuration – Interest is calculated on your average daily balance (including purchases made on that day).

Grace Period – You have twenty days after making a purchase during which you do not have to pay interest on the IN : Chicago From American Express credit card.

The Best Thing About It— You can reap rewards in other cities besides Chicago. It has a generous rewards program that includes INSIDE points for a dollar and double points for each dollar spent at participating retailers in Los Angeles, and New York as well.

The Worst Thing About It – This card has an extremely high regular APR that makes it very impractical for carrying a balance. Taking out cash advances is very expensive.

Credit Rating Needed For Acceptance :  Good credit.

Who Is It For?

The IN : Chicago Card from American Express is designed for those with good credit who live in or frequently visit Chicago, Los Angeles and New York City and plan to take advantage of the various benefits and services that these exciting cities have to offer.

 

The Benefits

 

The rewards program is generous! Through the reward program, cardholders earn two points for every dollar spent on dining establishments, movie theaters, cell phone service, cable and satellite television service, dial-up Internet service, gym memberships, and magazine and newspaper subscriptions, and they earn one point for every dollar spent on all other purchases. Points can be redeemed for benefits and experiences based in Chicago, such as free hotel stays, dining, and airline travel.

The points never expire!  There is no cap or limit on your INSIDE points that you can accumulate.

You can take advantage of the Tuesdays IN : Chicago program.  Cardholders can use the card at select participating merchants and get 10% off their purchases. . Plus, cardholders save $15 on purchases of $150 or more at J&R Music and Computer World.

Track all of your expenses on one statement.  Online access to this statement to your account is also provided so you can stay on budget. IN : Chicago From American Express also provides the convenience of paying your credit card bill online.

You can print out a Year End Summary. This feature gives you access to important information 24 hours a day, seven days a week. The summary can be printed it out and sorted by date, merchant name, or charge amount. Your Year End Summary is an invaluable way of keeping a record to keep your taxes straight. You may also receive a paper Year End Summary in the mail by calling the number on the back of your Card.

You have a Return Protection Plan. If you try to return a damaged item within 90 days from the date of purchase and the merchant won’t take it back, American Express will refund the full purchase price, up to $300 per item.

You have extra protection from theft or loss of your card while traveling.  American Express provides quick emergency cash and emergency card replacement should your card be stolen.

You have a great deal of travel insurance. This card offers $100,000 in travel insurance.

IN : Chicago From American Express provides access to a Global Assist Hotline. Whenever you travel more than 100 miles from home, you have medical, legal, financial or other emergency assistance, including medical and legal referrals, visa/passport help, cash access, lost luggage and more.

The card includes a Baggage Assurance Plan. This plan covers up to up to $1,250 for carry-on baggage and $500 for checked baggage in the event it is lost or stolen.

No liability for unauthorized Internet transactions.  You will not be charged for fraudulent use of your credit card online. Most cards charge $50 for this.

 

The Drawbacks

 

The APR is high. The standard APR for purchases is a bit below average for a reward card but not good at all for those who plan to carry a revolving balance.

The grace period is short. You only have twenty days to pay without interest.

Monthly payments are applied to purchases first.  The amounts that you pay monthly are not applied to the highest interest garnering activities such as taking out a cash advance. This can make it longer to pay off your debt.

The Return Coverage on the IN : Chicago From American Express card is limited.  Coverage is limited to $300 per item, excluding shipping and handling, and up to a maximum of $1,000 annually per Card Account and is subject to many loopholes.

 

Fees To Watch Out For

Late payment fee :  $15 on balances up to $100; $29 on balances of $100 through $1,000; $35 on balances over $1,000

Over the Limit Fee : $30

Duplicate card fee :  $35

Cash Advance Fee : 3%, $5 minimum for Express Cash transactions

 

To Summarize –

IN : Chicago from American Express is for those who can afford to pay in full each month after the introductory rate expires (to avoid finance charges), live or frequently stay in Los Angeles, Chicago and New York City (to earn additional points). It best suits those who like fine dining and entertainment and have a lot of money to spend on cultural pursuits.

 

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0%	6 Months	12.24%	None	Yes	Good Credit