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Overstock.com Rewards Visa Card

• 0% Introductory APR for up to 6 months
• No Annual Fee
• $25 Overstock certificate after first purchase
• 3 Reward points for every dollar spent at Overstock.com
• 1 Reward point on all other purchases
• For every 2500 Rewards points, automatically receive $25 Overstock Reward certificate

Issuer : Chase Manhattan Bank

APR : 0% fixed APR for purchases and balance transfers

Introductory Period : 6 months

APR After Introductory Period : 14.24%  Depending on the applicant’s credit history, the introductory period will be either 6 months for purchases and balance transfers or 3 months for balance transfers only.

Cash Advance Rate : 24.24 % variable rate on cash advances

Annual Fee : $0

Credit Line Possible : The credit limit you can obtain on the Overstock.com Rewards Visa Card 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 employ 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 the Overstock.com Rewards Visa Card during which you do not have to pay interest on account.

The Best Thing About It – You get triple the points when you use the card at overstock.com.

The Worst Thing About It—The way the interest on this is calculated in a manner that is more expensive than other cards and the interest rate is high once the introductory rate expires.

Credit Rating Needed For Acceptance : Good.

Who Is It For?

The Overstock.com Rewards Visa Card is designed for those who would like to take advantage of the three points for a dollar reward program that is offered when you use it at  overstock.com.

The Benefits

 

The overstock.com Platinum Visa Card has a decent rewards program. Through the reward program, one point is earned for every dollar spent on general purchases (equivalent to a 1% rebate) and three points are earned for every dollar spent on overstock.com purchases (equivalent to a 3% rebate). Once the cardholder earns 2,500 points, a certificate valued at $25 will be automatically issued, which can be redeemed for purchases at overstock.com.

You receive bonus points with your first purchase. You are awarded 15,00 points when you first use your Overstock.com Rewards Visa Card.

The card also earns points at any retailer. You earn one point for every dollar charged on your Overstock.com Rewards Visa Card.

There is no limit on points. There is no cap on the rewards you can earn.

You will receive special offers. Card holders will receive promotions that allow cardholders access to or win tickets to various entertainment award events, backstage passes, customized entertainment library.

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 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 Overstock.com Rewards Visa 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

 

You need to use your points up. If you don’t use them within five years they expire.

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

The introductory rate 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.

Overstock.com Rewards Visa Card APR is not 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 this 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.

 

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 :  $0

Over The Limit fee : $39

Cash advance Fee : 3%, $10 minimum

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

 

To Summarize

The Overstock.com Rewards Visa credit card has no annual fee and a reasonable APR for purchases (for those who qualify). There is also an attractive 0% introductory rate that can be applied towards purchases and balance transfers for up to the first six billing cycles. The APR is high after the introductory rate expires and it is not a card that you would want to carry a balance on.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0%	6 months	14.24%	None	Yes	Good Credit