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TripRewards MasterCard

• 0% introductory APR on balance transfers and cash advance checks for your first 12 billing cycles
• Earn 2 points for every $1 in net retail purchases and earn 13 points for every $1 spent for qualifying TripRewards hotel stays
• No Annual Fee
• 24-hour Online Access
• Absolute Fraud Protection
• Card issued by FIA Card Services, N.A.

Issuer : FIA Card Services, N.A. (Bank of America)

Introductory APR : 0% Intro Annual Percentage Rate (APR) on purchases and balance transfers for the first 12 months 

Introductory Period : 12 months

APR After Introductory Period : 9.99%

Cash Advance Rate : 19.99%% variable rate on cash advances

Annual Fee : $0

Credit Line Possible : The minimum credit line offered is $500 and the maximum is $25,000. 

Insurance included : The TripRewards MasterCard comes with extended car rental and warranty coverage on services and purchases for up to a year.

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

Grace Period – You have twenty days after making a purchase with your Bank of the TripRewards Mastercard when you do not have to pay interest.

The Best Thing About It – It has a generous rewards program that offers two points for every dollar spent.  You earn a whopping thirteen points per dollars if you use the card to stay at a qualifying hotel.

The Worst Thing About It – The points expire four years after they are earned.

Credit Rating Needed For Acceptance : Good credit.

Who Is It For?

TripRewards MasterCard is designed for those with excellent credit who plan to take advantage of a generous rewards program with no black out dates and points that can be redeemed at a huge variety of hotels across Canada and the United States.

Benefits

The points are good for stays at many different hotels. You earn 13 points per dollar spent on qualifying hotel stays (ten points through their TripRewards membership and an additional three points for using their card). Participating hotels include AmeriHost Inn, Days Inn, Howard Johnson, Knights Inn, Ramada, Super 8, Travelodge(U.S. only), Wingate Inn, and Wyndham Hotels and Resorts locations throughout the U.S. and Canada.

There is a rewards program that offers various benefits.  Through the reward program, cardholders earn one point for every dollar spent on all qualifying purchases. Points are redeemable for cash, brand-name merchandise, travel with no blackout dates, dining certificates, and more

There is no annual fee for additional cards. Duplicate cards are free.

The card comes with the Bank of America’s Purchase Replacement program. This feature provides for repair or replacement for covered purchases that are stolen, damaged or lost at a known location, within 90 days of the date of purchase.

The card comes with the Bank of America’s Purchase Guard. This feature may double the manufacturer’s original U.S. warranty period for covered purchases with warranty duration of 1 year or less.

Zero Liability.  If you claim someone has stolen your TripRewards MasterCard then you do not have to be liable for the usual $50 that is typically deducted as fraud liability.

The Drawbacks

Your points will expire. You are no longer able to redeem points earned with your card after they are four years old.

The TripRewards MasterCard has a short grace period. Many credit cards don’t begin to garner interest on purchases until thirty days after purchase. The Make-A-Wish Platinum Visa only gives you twenty days.

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

There are lots of 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 on balances up to $100; $29 on balances over $100 up to $250; $39 on balances over $250

Cash advance Fee: 3%, $10 minimum.

Over The Limit Fee:  Based on your balance as of the day the fee is assessed - $15 if $500 or less; $29 if between $500.01 and $1000; $39 if over $1000.

Balance Transfers: 3%, $10 minimum .

To Summarize –

The TripRewards MasterCard has a very flexible generous bonus program.  There is no annual fee, a 0% introductory rate for both balance transfers and cash advance checks for the first twelve billing cycles, and a very low fixed interest rate for those who qualify. However the cash advance rate is high and the points will expire after four years.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0%	12 Months	9.9%	$0	Yes	Good Credit