Prepaid Debit Card Reviews, Complaints, Etc

Category: Blog

Current blog posts and editorial comments and perspectives on personal finance topics such as credit cards, prepaid debit cards, maximizing credit card rewards, managing debt, controlling expenses and wise use of credit and prepaid or debit cards.

  • Which Debit Card has the Best Cash Back Rewards- Includes Credit Cards

    Which Debit Card has the Best Cash Back Rewards- Includes Credit Cards

    Welcome to our site! Our editors have been covering the credit and debit card space for a total of 30+ years and we are proud to have been featured by the Wall Street Journal, CNN, etc.

    Your input is invaluable and we’d love to have your opinion as to which cash rebate credit card is top rated (please read consumer reviews of Which Debit Card Gives the Best Cash Back Rebate & Rewards at the bottom of this page and post your own opinion) – this site is powered by you!

    Consumer Note! Please be careful when comparing cash reward credit cards and bonus offers offers online- almost all sites ONLY list credit cards or debit cards that advertise with them (75%+ of our card offers don’t pay us a dime) and a result some of the best offers are not listed on these sites (see below). 🙁

    Part of the beauty of credit cards and debit cards is their ability to give you rewards. Of course, the rewards only really mean something if you use the cards wisely.

    Please Note! The Reviews Below are for 2016- Please Click Here for our Latest 2020 Reviews of Cash Rewards Credit Cards and To Apply Online in Just Mins. (Includes Application Links)(Sponsor Link and Sponsor Ad Below)

     

     

    Unfortunately, while cash rebate credit and debit cards have grown in popularity, so has the confusion that surrounds them. Some programs change their rules often. Some provide higher rewards for some purchases but not others (and then they change the categories every quarter). Some cards have restrictions that others don’t.

    The point is this: Not all cash back credit cards and debit cards are created equal. And not every card is going to fit your lifestyle, purchases or financial goals. That’s why it’s important to do your research before signing up for any cash back card. Once you have your card, then it is important to maximize your earnings potential. Visit this link for more detailed reviews where you can easily apply online:

    This is part one of a two part article. Click here for part two. And click here for tips on how to maximize your cash back rewards.

    Here’s our roundup of some of the best cash back cards for 2016 (click here for our current 2020 reviews and to apply online in just mins. (Sponsor Link), but note Citibank Double Cash (see below) is still our overall favorite cashback card in 2019 and Alliant is still our fav for heavy spenders). Also, please see below for the debit card that gives the highest cash rewards or rebates for small purchase amounts that we are aware of.

    Also, please note that the Chime Bank debit card still gives the highest annual cash rebate referral that we are are of– $50 for you if you tell a friend or family member about Chime and they sign up (click to sign up online in 2 mins for more details) and $50 for you when they do. You can earn up to $500 per year in referral bonuses. (Referral Link)

    Debit Card Which Gives the Best CashBack Rebate (Spring 2020)?


    USAA Cashback Rewards Checking Debit Card (Non Advertiser):

    Best For Small Purchases:

    Please note that you must have a military affiliation to join USAA. USAA has raised the bar on debit card cashback rewards (which typically are significantly less attractive than credit card rebate programs). This account gives you ten cents back in rewards for every debit card purchase or transaction. So if you make a lot of small debit card purchases, the cash rebate could add up very quickly! A $2.00 purchase would yield you $.20, which is the equivalent of a 5% rebate (hard to get with any credit card rebate program). This checking account also features no monthly service fees, No minimum balance and No USAA fees on the first 10 non-USAA ATM withdrawals each month. The $25 minimum initial deposit is waived for new recruits. Please note that the Chime Bank debit card gives the highest cash rebate referral that we are are of– $50 for you if you tell a friend or family member about Chime and they sign up (sign up online in 2 mins for more details) and $50 for you when they do! (Referral Link) Arkansas Federal Credit Union (AFCU): AFCU offers a rewards checking account with a high annual percentage rate APR of 3%.  For every $2.00 you spend, you receive 1 point.  These points you can redeem for travel, electronics and more.  And being a member of the credit union your direct deposited paycheck up to 2 days early. BankAmeriDeals Debit Card Program from Bank of America (Non Advertiser): This incentive program allows online and mobile banking customers to enjoy special offers that give cash back perks on debit card purchases made at certain retailers. The offers are only available through their app or online banking and the details of this program are limited, but they do claim to offer UP TO 15% in cash rewards, though we would guess it’s limited to just a few offers and is probably more like 1-2% back on most eligible purchases. Cardholders must first activate their cards online prior to making any purchases that will earn rebates. Your BofA account will be automatically credited within 30 days following redemption. You can also activate and redeem deals to earn “Coins”. With the related BankAmeriDeals Coins program, the more coins you earn the more cash back you will get. Axos Cash Back Checking Account (Non Advertiser): Axos allows you to earn up to $2,000 per month in cash back on signature debit card purchases.  Maintain a $1,500 average daily balance and you can earn 1% cash back on signature based transactions.  If your average daily balance falls below $1,500 don’t worry they still offer 0.5% cash back.  And again they limit you to $2,000 per month in cash back. Unlimited ATM fee reimbursements for ATM withdrawals within this U.S. The cashback is deposited in to your Axos checking account. Radius Bank (Non Advertiser): Radius, which is a primarily an online bank, offers a cash rewards debit card that gives 1% back on all purchases with its Rewards Checking. You never pay an ATM fee and there are no monthly or annual fees. They have been around for quite a while. Finally, Discover offers the the no fee Discover cash back debit card (click for review of related Discover prepaid debit card): This card gives 1% back on all purchases (up to a maximum of $3000 in purchases each month). You must open a Discover checking account in order to get their debit card. No monthly fee, no fee on orders of checks and no minimum balance or minimum activity requirements (such as requiring you to make so many purchases a month). These are just a handful of checking rewards / cash back accounts offered today.  With just these select few, it is easy to tell which Debit Card Gives the Best Cash Back Rebate. Finally, please see customer reviews of the best cash back cards and please post your ratings and opinions as well!

    Top Rated Cash Rebate Credit Card (Overall):

    OVERALL WINNER

    Citi Double Cash Back Card (Site Sponsor)

    Editor’s Note: The Citi Double Cash Back Card is as straightforward as it gets. It offers the top rewards for a flat-rate card and its simplicity makes it a winner. You simply get 2 percent cash back for everything you buy. There are no categories to worry about, no annual fees and no spending limits. Basically, this card symbolizes cash back simplified.

    A Closer Look: The Citi Double Cash Back Card offers a 0 percent introductory APR for the first 15 months. You also get a waived late fee on your first missed payment (which you hopefully won’t have to use) and your Equifax score is included on every statement. The only downside is you don’t get the entire 2 percent reward right away. You receive 1 percent upon purchase and the other 1 percent after paying your bill.

    Chase Freedom (Not an Advertiser)

    Editor’s Note: A frequent favorite among cash back enthusiasts, Chase Freedom allows you to get 5 percent cash back across different categories that rotate quarterly. For example, one quarter may be 5 percent cash back on gas and the next quarter may be 5 percent cash back on retail purchases. By paying attention and spending strategically, you’ll be able to get some serious bang for your buck with this card.

    A Closer Look: Unfortunately, the 5 percent cash back isn’t unlimited. You’ll have to stay within a $1,500 spending cap. Still, these rewards are higher than most. Once you reach the cap, you’ll receive 1 percent back on every purchase. You can also earn a $150 cash bonus when you spend $500 or more in the first three months after opening an account. You can also earn an additional $25 by adding an authorized user. There’s also no annual fee and the points don’t expire as long as your account remains active.

    BankAmericard Cash Rewards (Not an Advertiser)

    Editor’s Note: BankAmericard Cash Rewards has some very rich cash back features. It also has the benefit of being straightforward. You get 3 percent cash back on gas and 2 percent cash back at grocery stores for the first $1500 you spend each quarter. You also get 1 percent cash back on every other purchase and there’s no annual fee.

    A Closer Look: The BankAmericard also gives a 10 percent bonus when Bank of America customers deposit their rewards into their accounts. If you are a Bank of America Preferred Rewards client and maintain an average banking and/or investment account balance of $20K to $100K+, you can receive a bonus of 25% to 75%.


    Which Credit Card Gives the Best Cash Back Rebate for Excellent Credit

    Citi Double Cash Back Card (see above)

    Capital One QuickSilver One Cash Rewards

    Editor’s Note: This particular card comes with not just a 0 percent balance transfer but 0 percent on purchases through November 2016. In addition, there is no annual fee and cardholders can earn a $100 bonus cash credit for spending $500 or more within the first three months. International travelers can enjoy purchases abroad with no foreign transaction fees.

    A Closer Look: You get 1.5 percent cash back on all purchases without having to worry about rotating categories or spend limits. You also get a 20 percent statement credit for all Uber rides. This card also comes with Visa Signature benefits such as travel upgrades and savings, shopping discounts, complimentary concierge service and more. Click here for the complete guide to Visa Signature benefits.

    Please Note! The Reviews Below are for 2016- Please Click Here for our Latest 2020 Reviews of Cash Rewards Credit Cards and To Apply Online in Just Mins. (Includes Application Links).(Ad Link)

    And click here for tips on how to maximize your cash back rewards.

    BEST CASH BACK REWARDS CARDS FOR HEAVY SPENDERS

    Alliant Cashback Visa® Signature Credit Card (not an advertiser)

    For Heavy Spenders: Alliant is a credit union (you have to apply to join and pay a small membership fee, but this credit union is open to anyone) and not a household name, but they have raised the bar held by the Citibank Double Cash Card for many years for the best overall rebate on all types of purchases.

    Earn a whopping 3% cash back during your first year & an amazing 2.5% cash rebate on all purchases every year after with no cap. Please note though that this card does have a $99 annual fee that is waived the first year.

    WHICH CREDIT CARD GIVES THE BEST CASH BACK REBATE FOR INVESTORS


    Fidelity Investment Rewards Visa Signature Card     (not an advertiser)

    Editor’s Note: This a great card for a savvy investor that was just launched in early 2016. You get 2 percent cash back on every purchase. The only requirement: You have to open a brokerage account.

    A Closer Look: To realize the 2 percent cash back, you must have it deposited into your brokerage account. Deposits can be made to standard brokerage accounts or other accounts such as Fidelity Cash Management accounts, 529 college savings plans or retirement accounts. This is an excellent way to maximize your purchases and build wealth with your investments.

    WHICH CREDIT CARD GIVES THE BEST CASH BACK REBATE FOR FAIR (OR LESS THAN PERFECT CREDIT)

    Discover it Secured Credit Card

    Editor’s Note: This is a new addition from Discover as they recently announced their only secured card. The Discover it Secured Card is one of the only secured cards with a cash back component. It’s benefits are similar to regular cards and is offering cash back rewards at 1% per dollar spent. After the end of the first year, Discover doubles the amount earned, so effectively, this is a 2% cash back card that can help consumers build or rebuild their credit.

    A Closer Look: Like other secured cards, the consumer must deposit a sum of money, between $200 to $2,500, to serve as the security deposit. Interest is high on this card compared to the others on this list at an APR of 23.24%. Despite the higher interest, this card is available to consumers with poor or no credit and provides a nice cash back reward as well as a free FICO score so you can watch your credit score rise.

    WHICH CREDIT CARD GIVES THE BEST CASH BACK REBATES FOR BUSY HOUSEHOLDS

    Groceries

    American Express Blue Cash Preferred

    Editor’s Note: The American Express Blue Cash Preferred card has some unparalleled rewards. You get 6 percent cash back on groceries up to $6,000 annually and 1 percent cash back thereafter. You also get 3 percent cash
    back at gas stations and select department stores.

    A Closer Look: A family can easily rack up enough in groceries to experience some stellar cash back rewards. Additionally, you receive $150 if you spend $1,000 in the first 90 days after opening an account. The card also comes with an introductory 0 percent APR for 15 months and includes all the benefits of an AmEx, including spectacular customer service, roadside assistance and extended warranties on purchases. The only downsides are a $75 annual fee and the grocery rewards don’t count at specialty shops or Costco.

    Gas

    Fort Knox Credit Union Platinum Visa
    Editor’s Note: This card offers 5 percent cash back on gas purchases and the barrier to entry is low. All you have to do is pay $5 to join the American Consumer Council / Kentucky and you can qualify for the program.

    A Closer Look: Unlike other cards that offer cash back on gas, the Fort Knox Credit Union Platinum Visa doesn’t require you to open up an account with them. There’s also no balance transfer fee and no annual fee. Additionally, you get 1 percent cash back on all retail purchases.

    Business

    Ink Cash Business Credit Card

    Editor’s Note: The Ink Cash Business Credit Card by Chase is often hailed as one of the best credit cards for small business owners. You get 5 percent cash back on the first $25,000 you spend each year on business expenses, including office supplies, cellular and landline phones, Internet and cable TV. You also get 2 percent cash back on the first $25,000 spent on gas and restaurants. A 0 percent introductory APR and no annual fee also make this card very attractive.

    A Closer Look: In addition to the great cash back offer on things all businesses need, you also get $200 bonus cash back when you spend $3,000 in the first three months after opening an account. You can also redeem points for cash, travel or gift cards. The only downside to this card is if your business doesn’t spend money on these items.

    Dining / Restaurants

    Chase Sapphire Preferred

    Editor’s Note: Foodies will enjoy this card because they’ll get 2 percent cash back for dining out. You also get 1 point for every dollar spent in all other categories. Travelers will also enjoy this card because it has several airline partners, double points on travel purchases and no foreign transaction fee.

    A Closer Look: The Chase Sapphire Preferred is one of the best personal cards on the market. They have an excellent promotional offer of 50,000 points when you spend $4000 in the first three months after opening an account – an amount easily within reach of many households. Just note that the annual fee jumps to $95 after the first year.

    BEST BONUS CATEGORY CARD

    Chase Freedom

    Editor’s Note: The Chase Freedom card has a low 0% APR for 15 months for purchases and balance transfers, and offers a generous 5% cash back on selected categories that change every quarter. Currently, through March 31, 2016, cardholders that activate their 5% cash back can save at gas stations and on local commuter expenses, including UBER and taxis.

    A Closer Look: For new cardholders, you can earn a $150 cash bonus when you spend $500 in the first three months after opening an account. You can also earn an additional $25 bonus by adding an additional cardholder and completing a purchase in that same time frame. Let’s not forget to mention that cardholders also get an unlimited 1 percent cash back on every purchase and has other features such as purchase protection and price protection.

    MOST INNOVATIVE CASH BACK REWARDS PROGRAM


    QuickSilver From Capital One
    Editor’s Note: What sets this card apart from all the others is your ability to get 20 percent cash back on all Uber rides through April 2016. If you use the car sharing service often, you’ll definitely want to take advantage of this bonus.

    A Closer Look: Aside from the 20 percent cash back on Uber rides, Capital One’s QuickSilver is an overall good program. You earn an unlimited 1.5 percent cash back on every purchase, a $100 cash bonus when you spend $500 in the first three months after opening an account, there’s no annual fee and the card offers a 0 percent introductory APR. You can also use it for travel upgrades, there are no foreign transaction fees and the card provides an extended warranty on purchases and several other features.

    Please Note! The Reviews Below are for 2016- Please Click Here for our Latest 2019 Reviews of Top Cash Rebate Cards and To Apply Online in Just Mins. (Includes Application Links).

    And click here for tips on how to maximize your cash back rewards.

    BEST NICHE CASH BACK REWARDS

    Fidelity Investment Rewards Visa Signature Card(not an advertiser)

    Editor’s Note: This card gives you cash back that can be deposited into your investments to build wealth over time. It’s the only card we know of that gives you rewards while encouraging you to save.

    A Closer Look: If you deposit your rewards into investment accounts, like a retirement or a college 529 plan, you can save for significant future expenses. It’s a very smart way to have your money make more money for you.

    LOCAL OPTIONS FOR CASH BACK REWARDS

    These cards are all available nationally, but you may find that there is a card that is just right for you in your own backyard. One really good options found near us includes the Simmons Bank Visa® Platinum Rewards card. That card is offered nationally, but it is a good deal for those looking for a long-term low rate at 10.50% and have a balance to transfer. They have no balance transfer fee.

    Another option to consider are local credit unions. One example nearby is TruService Community Federal Credit Union. They have a rewards card with cash-back that we have found to be the lowest rate in the country at 5.50%. Even at their highest rate offered, it is still only 13.50%. You must qualify for membership for that credit union to be able to get that card and that includes anyone that works, lives or worships in their area of service.

    Other Related Reviews and Resources That Might be Helpful:

    LOOKING AT THE OPTIONS

    These cards are all available nationally, but when searching for which Debit Card Gives the Best Cash Back Rebate or Credit Card, you may find that there is a card that is just right for you in your own backyard. One really good options found near us includes the Simmons Bank Visa® Platinum Rewards card. That card is offered nationally, but it is a good deal for those looking for a long-term low rate at 10.50% and have a balance to transfer. They have no balance transfer fee.

    Another option to consider are local credit unions. One example nearby is TruService Community Federal Credit Union. They have a rewards card with cash-back that we have found to be the lowest rate in the country at 5.50%. Even at their highest rate offered, it is still only 13.50%. You must qualify for membership for that credit union to be able to get that card and that includes anyone that works, lives or worships in their area of service.

    LOOKING AT THE OPTIONS

    There are always options, personal desires and values to consider in choosing the cash back card that works the best for you and your particular situation. There are a number of great cards that are offered nationally and there just may be some great cards offered locally that you have not considered. Take a look at some of the cards we have recommended here.

    WHAT WORKS FOR US

    Our team believes that credit card choices have a lot to do with individual preference, lifestyle and goals. Everyone is different and there is a card for each of you. Some people on our team stick to using points for travel and others trade them in for cash. They both work just fine.

    OUR RATINGS SYSTEM

    When reviewing these cards, we do our best to put ourselves in the consumers’ shoes. We choose cards based on (lack of) fees, rewards and ease of use. In other words, if we wouldn’t use these cards ourselves, we wouldn’t recommend them. In fact, we do actually use these cards in our own lives.

    NOTE: This article is part one of two and was originally published on the Huffington Post. Click here for the original article.

    Which Credit Card Gives the Best Cash Back Rebate and Which Debit Card Gives the Best Cash Back Rebate

  • Best Long Term 0% Balance Transfer Credit Card Offers (No Transfer Fee)

    Best Long Term 0% Balance Transfer Credit Card Offers (No Transfer Fee)

    Welcome to our site! Our editors have been covering the credit and debit card space for a total of 30+ years and we are proud to have been featured by the Wall Street Journal, CNN, etc. Your input is invaluable and we’d love to have your opinion on what the best long term 0% balance transfer credit card offers are (see below to read customer reviews of the best offers and post your own opinion) – this site is powered by you!

    Important Consumer Note! Please be careful when comparing no interest balance transfer offers online- almost all sites ONLY list credit cards that advertise with them (about 80% of our card offers don’t pay us a dime) and a few sites claim to have no fee 0% balance transfers, but actually are no fee 0% APRs (rates) that APPLY ONLY TO NEW PURCHASES (and not to balance transfers). 🙁

    Also, please be advised that your credit score needs to be good (around 675 or above) to qualify for the longest balance transfer offers. Click here to get your score in 90 seconds with no strings attached and for tips on how to improve your credit score.

    If you’re like the average American, you’re carrying a significant amount of credit card debt (thousands of dollars, not hundreds), but unless you’re proactively looking for lower-rate cards, you’re probably paying too much in interest. A number of financial institutions have credit card balance transfer applications with a 0% APR on balance transfers for periods up to 21 months (apply securely online in mins) (Sponsor Link) with fees typically around 3-4% of the transferred amount and others are offering 0% on new purchases for up to 18 months (the best offers have 0% introductory rates on both purchases and balance transfers).

    Questions or Concerns? Please feel free to post at the bottom of this page in the comment section and a credit expert will typically reply within 24 hours!
     

    Looking for the Best Long Term 0% Balance Transfer Credit Card Offers?

       

    Compare the Longest Transfer Offers (Up to 21 Months)

       

    Apply Online in Minutes

    (Sponsor Link)
    [button link=”http://c.clapu.com/cgi/r?;n=203;c=1620114;s=7273;x=7936;f=201609281520350;u=j;z=TIMESTAMP;src=608074;” target=”_blank”” variation=”rust”]COMPARE & APPLY FOR 0% OFFERS[/button]

    Debt can be crippling, and finding a way to erase it is the key to good financial health. An often-overlooked tool to accomplish this is by transferring the balance you owe on a high-interest card to one with little or no interest (at least for a while).

    Balance transfers are a known debt repayment hack, and credit card issuers know this. Which is why there are now several balance transfer credit cards on the market. But of course, balance transfer credit card offers are not all created equal. In fact, some may have lower fees but a shorter introductory term where you can pay off what you owe while being charged 0 percent interest. By contrast, others may have a longer 0 percent introductory interest rate window but higher fees. To take full advantage of a limited duration 0 percent interest rate to pay down debt requires you to be honest about your willingness and ability to make the necessary payments. “If you miss the deadline to pay off or transfer your debt before the offer expires, it can be very costly,” says Gerri Detweiler, Head of Market Education for Nav.com. Whether through a balance transfer card or not, the time to pay off your debt is now, while interest rates are still very low. “Consumers are being given a rare opportunity to make their financial lives easier,” says Gary Foreman, founder of The Dollar Stretcher website. “The Federal Reserve has been talking about raising interest rates for quite some time. Normally, we don’t get this type of warning. Anyone who is paying attention wants to lock in low rates on the money they owe.” Higher rates mean debts will be even more costly to pay off, says Foreman.
     

    Please Note! The reviews are for 2016 and only posted for archival purposes. Click here for our 2020 detailed reviews and offers on the Best Long Term Balance Transfer Credit Cards.

     

    Balance transfer credit cards with long and generous introductory interest rate offers are a tool to eliminate your debt. We’ve rounded up a list of the best long-term balance transfer credit cards with introductory offers that range between 15 and 24 months.

    IN A CLASS OF ITS OWN

    Chase Slate

    Chase Slate January 2020 Card Update! This card is in a class of its own among long-term balance transfer credit cards. It’s not because its introductory offer is 15 months at 0 percent APR. It’s because that initial 0% APR for 15 months has no fee, which is a very rare in today’s market (click for detailed card review and application info). Remember, several of these cards offer terms as long as 21 to 24 months. Depending on how big your balance is, you could still really get slammed with those 3 percent balance transfer fees. As long as you know you can pay off your debt in 15 months, the Chase Slate gives you an opportunity to pay off your balance with absolutely no fees or interest. This is the best long term no fee balance transfer offer we are aware of, but before you apply, you should compare Slate to other similar balance transfer offers.

    Best Long Term 0% Balance Transfer Credit Card Offers (No Transfer Fee)

    Citi Simplicity® Card*

    The Citi Simplicity Card made our list for two simple reasons: It has an introductory balance transfer APR of 0 percent and it lasts for 21 months (and 0% Intro APR on purchases for 12 months from date of account opening ). This is one of the best offers on the market (click for detailed card review and application info). Second, its “No Late Fees Ever” promise is truly unique.

    There is a 5 percent or $5 balance transfer fee, but that lack of late fees and penalties makes it worthwhile. Remember: Even though this card doesn’t charge late fees, not paying your bill on time will still result in a lower credit score and could raise your rate to the penalty rate.

    Santander Sphere® Signature Card

    The Santander Sphere Signature card offers a 18-month 0 percent APR introductory rate when you complete a balance transfer within the first 90 days of opening an account. At 4 percent, the balance transfer fee is a little higher than competing cards.

    Rare for a balance transfer card, the Santander Sphere Signature card has a rewards program. You receive one point for every dollar you spend, which can then be used to redeem rewards, such as gift cards, travel perks or cash back. You will want to note that it is not 0 percent on purchases, only balance transfers, so it would be unwise to use the card for purchases during the transfer period.

    Discover it® Card*

    The Discover it card gives you 0 percent APR on balance transfers for 14 months. The balance transfer has a 3 percent fee. Discover sweetens the deal by offering 0 percent APR on purchases made within the first 6 months after opening an account. In other words, this is a great card for doing double duty. Not only can you get 0 percent APR on a balance transfer of existing debt, you can also use the card if you need to make a large purchase. But remember: Adding more debt through a purchase will make it harder to pay off your balance within 14 months.

    NASA Federal Credit Union Card

    The NASA Federal Credit Union card offers a 8.9 percent balance transfer for life. In other words, there is no limit to the incredibly low APR. There’s also no balance transfer fee. This could be a great card for individuals who know they will take longer than 18, 21 or 24 months to pay off their debt. When the introductory APRs on the other cards expire, the rate is usually double what’s being offered by this card.

    BankAmericard Credit Card*

    The BankAmericard credit card offers 0 percent APR on balance transfers for the first 15 months and has a 3 percent transfer fee. After the initial 18 months, the BankAmericard offers one of the lowest ongoing APR of any of the BankAmericard products. The ongoing APR is between 14.49 and 24.49 percent, depending on your creditworthiness.
     

    Please Note! The reviews are for 2016 and only posted for archival purposes. Click here for our 2020 detailed reviews and offers on the Best Long Term 0% Balance Transfer Credit Card Offers.

     
    This card also offers credit education resources, making it a good card for individuals who are looking for a long-term balance transfer card in an effort to pay off their debt and improve their credit.

    Barclay Bank NFL Extra Points Card*

    Barclay Bank NFL Extra Points Card*
    Although U.K. based Barclay Bank has been offering credit cards in the U.S. for several years, the bank still is far from a household name here and is a bit of a best kept secret. The balance transfer offer of the NFL Extra Points card is impressive, though not quite a touchdown. It offers 15 months on transfers made within the first 45 days and comes with the industry standard 3% fee. After that, a variable purchase APR applies, currently 15.24%-25.24%, based on your creditworthiness. While not the best transfer offer on the market, the card also offers a unique 0% promotional APR for 6 months on NFL ticket purchases from any participating NFL team ticket office. Another nice perk is complimentary online FICO credit score access.

    Simmons Bank Visa® Platinum*

    If you’re looking for a long-term balance transfer credit card that doesn’t have a balance transfer fee, look no further than the Simmons Bank Visa Platinum card. Though the card charges no balance transfer fee, it does levy a variable 7.5 percent APR on balance transfers made within the first 90 days of opening the account. This is comparable to the NASA card, although at a lower rate. A unique feature of the card: Unlike many other cards on this list, the APR following the introductory rate does not vary depending on your credit worthiness. With the Simmons card, it’s simply a flat 7.5 percent, if you get approved.

    BEST LOCAL AND REGIONAL LONG-TERM BALANCE TRANSFER CARDS

    Sometimes the best long-term balance transfer credit cards don’t come from large national chains and credit unions. Instead, you can find some gems right where you live. Here is a sampling of some of the most attractive offers, but be sure to consult with locally owned and operated banks and credit unions in your area.

    First National Bank of Omaha Platinum Edition® Visa® Card

    First National Bank of Omaha Platinum Edition® Visa® Card
    This is a good regional card worth considering. First National Bank of Omaha currently offers the Platinum Edition Visa Card with a long-term balance transfer period available to people who reside in Colorado, Illinois, Iowa, Kansas, Nebraska, South Dakota or Texas. These cards offer a 0 percent APR on balance transfers for 15 months along with a 3 percent balance transfer fee. After the introductory period, the bank offers APRs as low as 10.24% up to 18.24%. Note: This is an interesting side note for those applying for a transfer offer with another issuer. Although not a balance transfer card, we did not want to neglect to mention another card worth considering from FNBO: the Complete Rewards Visa Card. This card offers a 15 month 0% APR on purchases, not balance transfers. This could be a nice complementary card to use while paying down your transferred balance if you expect to be making some purchases along the way.

    TruWest Credit Union Visa® Platinum Card

    The TruWest Credit Union Visa Platinum credit card is a long-term balance transfer card available to people who reside in parts of Arizona and Texas. The card offers a 0 percent APR on balance transfers for 18 months, though there is a 3 percent fee. After the introductory period, the credit union offers APRs as low as a very rare rate of 6.5 percent, a real bargain.

    TruService Community Federal Credit Union Visa® Platinum Card

    Arkansans looking for a long-term balance transfer credit card won’t find a better deal than what’s offered by the TruService Community Federal Credit Union. TruService lives up to its name with a ridiculous ongoing APR as low as 5.5 percent. This is the lowest ongoing rate in the nation (that we are currently aware of). There’s also no balance transfer fee within the first 60 days. After that, it’s only $25 per card.

    Logix Platinum Rewards MasterCard®

    The Logix Platinum Rewards MasterCard offers a very unique variable long-term balance transfer deal of 4.99 percent to 9.99 percent APR for 24 months with no balance transfer fee. It also has no foreign transaction fees, a plus for travelers. The transfer rate is based on your creditworthiness, so if you can get the lower rate, this is a good offer, but if you get the higher rate, it’s not that great. For those qualifying for the lower rates, this can be a great option for individuals in Southern California who need to find a way to pay off high-interest debt.

    WHAT TO LOOK FOR

    Long-term balance transfer credit cards are a great solution for individuals who are looking to pay down their high-interest debts once and for all. In a nutshell, here’s what makes a card worth looking at: It must have a long introductory period 0 percent APR, decent fees and low ongoing APRs. All of the cards above fit the bill and can help you improve your financial situation.

    CHECKLIST BEFORE YOU TRANSFER

    – Identify which balance(s) and which card(s) you want to transfer.

    This can be as simple or complicated as you choose to make it depending on your goals and how many cards and balances you are looking to transfer. For many people, they may be simply transferring debt from one card to another. Others may want to consolidate debt from multiple cards, especially if they can move all balances to one card at 0%. It is good to know in advance what balance(s) you want to transfer. If you have some cards that you do not have a balance on, you can contact those issuers to see what kind of balance transfer deal they may be able to offer to win your business.

    – Identify how much you plan on paying per month and how fast you can pay it off.

    This can impact which card you choose. If you determine that you can pay off your current debt within twelve months, you open the range of cards to select from. If you figure out that 15-18 or 24 months is a more realistic assessment of how fast you could pay the transferred balance off, you may want to strongly consider one of the cards with longer intro rates or plan for transferring to another card with a balance transfer offer when that intro offer expires.

    – Check your credit score.

    Knowing your credit score is handy to helping know what card or cards you can be approved for. The higher your score, the more options you will have in applying for a great balance transfer card. If your FICO credit score is 720-750 or higher, you should have no problem qualifying for most cards that state that “Excellent credit is required.” Click here to check your credit score. Consider the impact of transferring a balance on your credit score, but maintain your focus on the goal. Although it could negatively impact your credit score, especially in the short term, you should be more concerned with taking advantage of the offers that allow you to pay off your debt the fastest and at the lowest rate possible. In the long run, that will be the best toward eliminating debt and improving your credit score.

    – Get an idea on how much you can be approved for on the new card.

    If you have not applied for a card in a while, you may be flying blind on this one. A number of factors influence how much credit you will be awarded including your current debt load, credit score and other items. If you apply online, you should know fairly soon if you are approved and how much credit you qualify for. If the amount is not enough to cover the balance you wish to transfer, contact the card issuer and see if they can do anything to extend that to help accommodate the balance(s) you are wanting to transfer. Worst case, you can apply for multiple cards (from different issuers) to accommodate the total balance and identify which amount from which card will go where. (A word of caution: Each time you apply for a credit card, it can lower your score a little bit on a temporary basis.)

    – Use a balance transfer savings calculator to determine which offer is best for your situation.

    Terms vary on the introductory balance transfer offers. Most of the 0% offers carry a balance transfer fee typically at 3%, but some are higher. Other cards offer an intro period without a balance transfer fee. You can use such an online calculator to determine how much you will save for each card and see which gives you the biggest bang for your buck over time.

    – Decide if you prefer to transfer a balance or get a consolidation loan.

    It is true that a balance transfer at 0% is the absolute lowest rate you can find. But, crunching the numbers are not 100% of what erasing debt is all about. Personalities and personal preferences should be considered as well. Some people are more comfortable with a single fixed monthly payment and a pre-determined final payment date. In that instance, a loan may be the best route for you. There are a number of companies offering great rates on personal loans that can be paid off over two to five years on average. Check out local credit unions first and then local banks to find the best rates and terms. Also consider online sources such as Payoff.com for debt consolidation loans. Although not as low as 0%, you may find that you can afford the payment and get a plan that will erase that debt once and for all.

    – Don’t try to transfer balances between two cards with the same bank or card issuer.

    This may seem like a tip that does not need to be said, but you may have an airline miles card, rewards card or a store card issued by a bank and their logo is not prominent front and center on the card. Check the issuing bank on the back of the card before applying for that new card. Banks typically use these balance transfer offers to create new business and are hoping to steal business away from their competitors. They will not be interested in reducing a rate on a balance they already manage. Having said all that, many cardholders often have success contacting the existing card issuer and negotiating a lower rate on their current balance.

    – Get the transfer done as soon as possible and know the deadline date. (Typically, 60 – 90 days.)

    Many card issuers have promotional balance transfer offer time periods between 60 to 90 days from the time you open the account. It is definitely in your best interest to transfer your balance as soon as possible. The sooner you are paying on a lower interest rate, the better, right? So, if transferring a balance to help pay it down faster with interest is your goal, don’t procrastinate on this. Get it transferred as soon as possible!

    CHECKLIST FOR AFTER THE BALANCE TRANSFER IS DONE

    – Pay on your card on time, every month!

    Ok. So, you know this one. Late payments can trigger steep late payment fees and can also hurt your credit score. If you make a late payment, you will most likely lose your low introductory transfer rate and could get stuck with a high default or penalty rate which can be northwards of around 30%. In addition, late payments are typically reported to the credit bureau, which could then impact your score. Automate your payments (at least to the minimum) so you are never late. You can always go online and make extra payments as well to help pay it down faster.

    – Don’t use your new balance transfer credit card if you can help it.

    After you have transferred your balance to the card, you don’t want to add more debt. Unless the card also offers a 0% purchase rate offer for a set time period, any purchase you make on that card will start accruing interest at a higher rate after the grace period. The goal is to drop the interest for a while so you can pay down the debt. If you can help it, you don’t want to add to it.

    – Don’t use your card at an ATM or get cash out while shopping.

    Walking hand-in-hand with the tip to not use your card, we emphatically say to avoid using your card at ATMs or getting cash back at the checkout counter. These transactions are not your typical “purchase” transactions; they are considered cash advances and almost always come with an initial fee, usually around 5% and carry a much higher interest rate. In addition, there is usually no grace period for cash advances, so interest accrues immediately. If your shiny new card does offer a 0% purchase rate for a time, these cash advance transactions will not fall under that category.

    – Don’t close your old accounts.

    After you have transferred your balance from one card to another, you may be tempted to close the accounts of those cards that now have a $0 balance. You do NOT want to do this. Keeping those accounts open will help you with your credit utilization ratio which is a factor used in determining your overall credit score. Each card has its own credit utilization ratio, which is the actual debt balance divided by the total credit available. For factoring your credit score, they also look at the overall credit utilization ratio, which is the total debt balance divided by the total credit available. Your goal is to be below 30%. As you get new cards and move the balances there, you will have increased your total available credit, which will improve your overall credit utilization ratio. Also, the age of accounts is also a factor and older accounts can help improve credit scores. For more information on when to close an account, click here. The bottom line is: get those cards to a $0 balance as fast as possible, but leave them open to improve your credit score.

    – Add to the payment as you can over time.

    While experiencing a breather from your earlier interest rate, you may find times when you can pay on the card a little more over time. Anything you can do to pay off the debt faster is always helpful. Eventually, the intro rate will end, unless you have locked down with a low ongoing rate. Even paying $10 or $20 extra each month can have a big impact. Paying extra reduces the balance faster and gives you more of a chance to keep interest charges at bay.

    OTHER RESOURCES:

    How to Transfer Credit Card Balance

    Please Note! The reviews are for 2016 and only posted for archival purposes. Click here for our 2020 detailed reviews and offers on the Best Long Term 0% Balance Transfer Credit Card Offers.

    What are the best long term 0% balance transfer credit card offers
  • How to Save Money Using Prepaid Debit Cards (Understanding Fine Print)

    How to Save Money Using Prepaid Debit Cards (Understanding Fine Print)

    It can be a pain, but poring over a prepaid debit card agreement can save you money.

    Note! This article was originally published in 2013 and has not been updated since- it’s being kept for historical purposes.

    By Lucy Lazarony

    There’s a reason you don’t find prepaid debit cardholder agreements on anybody’s list of fun, summer reading. Making sense of a cardholder agreement for a prepaid debit card can be about as easy as putting together an IKEA dining room table using instructions written in Swahili. “Every one that I’ve seen is a little different and full of legalese,” says Liz Weston, personal finance expert and author of “The 10 Commandments of Money: Survive and Thrive in the New Economy.”

    The best way to make sense of the jargon-packed contract between you and the company issuing a prepaid card is to understand what you’re looking for. Which means that you first need to focus on how you plan to use the card. Will you be getting a lot of cash out at ATMs? Will you be using the card to shop at different merchants, to pay bills or to shop online?

    “Take a few minutes and think about how you are going to use it,” Weston advises. “How am I going to get cash onto it and out of it? These cards are typically fee-heavy and you want to figure out which fees are really important and minimize them for the way you use the card.”

    Once you know how you plan to use the card, take a look at the fee schedule detailed in the cardholder agreement. What kind of fees will you pay for the way you plan to use the card the most?

    “When it comes to prepaid debit cardholder agreements it really begins and ends with the fee schedule,” says John Ulzheimer, president of consumer education for SmartCredit.com. “Some prepaid debit cards are loaded with fees and understanding where and how much you’ll pay is step one to avoiding or minimizing them. Also, there are some better prepaid options that don’t have a ton of fees, and a review of the cardholder agreement will help you comparison shop.”

     

    Here are some key questions to ask when deciphering a prepaid card agreement.

    How much will it cost me to open the account?  An activation fee, an opening fee, an initial load fee and set-up fee are types of fees that card issuers might charge when a consumer opens a prepaid card account, according to a Consumer Action study of prepaid cards. And there may be a one-time purchase fee for buying the card at a retail location.

    How will I load money on the card? You can load money on a prepaid card in person, online, by wire transfer or by direct deposit. What types of load fees does a card issuer charge? A monthly maintenance fee of up to $10 a month may be waived if you set up direct deposit, according to Consumer Action.

    How and how often will I get cash from the card? You can withdraw cash from a prepaid card at a bank, agent location or ATM. If you plan on withdrawing cash at an ATM, opt for a prepaid card that offers free withdrawals at a participating network of ATM locations near you or a card that provides several, free ATM withdrawals per month.

    How will I check my card balance? With a prepaid card, you can check your balance at an ATM, by accessing your account online, calling customer service or receiving a paper statement. Watch out for fees. You may pay a fee of $2 for checking a prepaid card’s balance at an ATM. And Ulzheimer recommends avoiding cards that charge fees for paper statements and for calling customer service. “Paper statement fees and customer service fees are what I call “slap in the face” fees,” Ulzheimer says.

    What happens if my card is lost or stolen? In most cases, if you have registered a prepaid card with the issuer, you can recover the full balance when you report a card is lost or stolen. “Zero liability protection that comes with a (prepaid) card isn’t guaranteed by law. It’s all voluntary and you really want to understand that,” says Linda Sherry, director of national priorities for Consumer Action.

     

    And some prepaid cards charge fees for replacing lost and stolen cards.

     

    What happens if I have a dispute with a merchant over a purchase I made with a prepaid card? As with a lost or stolen prepaid card, you don’t have the legal protections under federal law that you would have with a credit card or a debit card that is linked to a bank account. Whatever merchant dispute assistance available from a prepaid card issuer is voluntary.

    “Federal law hasn’t caught up. You don’t have the same protections with these cards,” Weston says. “If you have a dispute with a merchant does it cost you money to get help?”

Prepaid Debit Card Reviews, Complaints, Etc