Credit card users want to earn the best credit card rewards on their card spend. These rewards typically come in the form of cash back or loyalty points with the most popular type of loyalty point offering being frequent flier miles. Unfortunately, frequent flyer credit cards have many drawbacks, especially due to the fact that large airlines have been limiting award availability while raising the number of miles needed to for many flights, thereby decreasing the value of miles.

Due to adverse miles revaluations, customers have become increasingly frustrated with this reality, and in response, banks have begun to promote their own loyalty point systems. Citi’s proprietary ThankYou program lets cardholders earn points that can be redeemed for cash back, travel, gift cards or a variety of merchandise rewards.

How the Citi ThankYou Rewards Program Works

Eight different Citi credit cards allow members to earn ThankYou points. These products are the Citi ThankYou Preferred Card, Citi Forward Card, Citi ThankYou Premier Card, Citi ThankYou Prestige Card, AT&T Universal Savings & Rewards Card, CitiBusiness World MasterCard, and the AT&T Universal Business Rewards Card. Continue Reading »

February will likely mark an important turning point in the balance transfer credit card market. Although average balance transfer fees declined sharply from 3.25% to 2.95% this month, average balance transfer durations took a downward turn as well. The latter change seems to indicate that credit card companies may no longer feel comfortable offering 0% interest rates for extraordinarily long periods of time, an issue that may lead to a return to the basic, twelve month balance transfer offers that were common prior to 2011.

Average 0% Balance Transfer Durations on the Decline

A handful of Citi balance transfer offers, which had carried 21 month introductory periods on purchases and balance transfers, were reduced to 18 months in February. While this is only a 15% decrease, the probability of 21 month balance transfer offers returning in the near future is quite low. Additionally, as a result of Citi’s pullback, average balance transfer lengths fell to the lowest level since May of 2011 and could prompt further reductions in length by competing banks.

The following chart details changes in 0% balance transfer durations since September of 2010.

At present, the Citi Platinum, Citi Diamond, Citi Simplicity and a version of the Discover More Card all offer 18 month introductory rates on balance transfers. However, only the Citi products offer the same 18 month 0% introductory period on purchases in addition to transfers. For additional information on these offers, please see the 0% APR balance transfer credit card comparison section of this site. Continue Reading »

Over the past few months, the Citi ThankYou Rewards program has been vastly improved. The value of ThankYou Reward points earned has been increased substantially as has the overall quality of promotional offers made available to new customers. At present, there are three different Citi ThankYou cards available and four different offers to choose from. Here, we’ll take a look at these offers and consider who can benefit the most from the various promotions.

Offer #1: The Citi ThankYou Card

While the basic Citi ThankYou card is lacking in the sign-up bonus relative to other offers, it does presently offer the longest 0% introductory period of any rewards credit card on the market. With a 0% APR for 15 months on balance transfers and purchases, this ThankYou card is definitely the best option for consumers who currently have credit card debt – and can benefit from a 15 month balance transfer – as well as those who may incur some debt in the coming months. Continue Reading »

One of the lesser known benefits of credit card rewards are the benefits of using a card for expenses that are reimbursed by a third party. For example, a business traveler can easily spend $2,000 a week on a modest trip that includes airfare, rental car, hotel, and meals.

When using his or her personal credit card, the business traveler is entitled to retain any cash back, miles, or loyalty points earned through their credit card spending. Most feel that this benefit is deserved due to the administrative costs of incurring debt, seeking reimbursement, and paying off the balance.  Others cite the inconvenience of business travel itself as more than enough justification for the rewards that can be earned by charging expenses to one’s personal card. Continue Reading »

Consumers looking to save money with 0% interest balance transfers who also want to avoid pesky balance transfer fees have at least one more month to do so as Discover has extended their no fee balance transfer promotion until the end of February. Due to the recent expiration of a similar no balance transfer fee promotion available on Chase Slate, this is now the only 0% APR no fee offer on the market.

As was the case in 2011, Discover has opted to run this particular promotion from January to February. Consumers who apply and are approved are granted a 0% interest rate on balance transfers and purchases for 12 months. Cardmember’s then have until July to initiate a balance transfer without incurring a fee. (View application and complete details here)

The benefits of a no fee balance transfer are fairly straightforward. Most balance transfer offers charge a 3% fee on all balances transferred. On a $500 balance transfer, this fee is a very insignificant $15. However, on a $3,000 balance transfer, this fee is a sizable $90. Continue Reading »

February is the first month since late 2010 when the overall quality of 0% APR balance transfer offers has declined. While Discover continues to run a 0% no fee balance transfer promotion, a similar offer from Chase has been removed from the market. Meanwhile, the longest balance transfer offer length has dropped from 21 months to 18 months.

Despite these somewhat negative developments, consumers looking to take advantage of 0% interest rates to reduce credit card debt still have historically good options. However, with Discover’s no fee offer slated to end this month and a developing trend of shorter 0% introductory periods, consumers should avoid procrastination in order to insure they get the best possible deal on balance transfers.

The Best Offers: No Fee vs. 0% for 18 Months

As was the case last month, the main question consumers must ask themselves before choosing a balance transfer credit card is whether they stand to benefit more with a card that charges no transfer fees, but only offers a 0% APR for 12 months or if it makes sense to pay a 3% balance transfer fee in order to secure a longer 18 month 0% rate.

Those who are confident in their ability to repay balances in 12 months or less are in the best situation, as the limited time Discover no balance transfer fee offer is clearly the best choice. With this offer, applicants save on the standard 3% fee charged by most credit cards. This equates to savings of $30 for every $1,000 transferred. On a $4,000 balance transfer, this works out to a handsome $120 in fee savings. Continue Reading »

Since its merger with Continental, United Airlines has become one of the largest carriers in the world. In addition to the services it operates under its own brand, customers can easily connect to flights on one of the 27 other airline partners within the Star Alliance. The result is an airline alliance with a truly global reach.

The United/Continental merger has created a circumstance where miles in United’s MileagePlus program have become increasingly valuable. Fortunately, there are many different credit cards that allow customers to earn these miles. The challenge is to find the credit card that provides the best rewards earning potential.

The obvious choice for earning MileagePlus Miles would be the United Explorer credit card from Chase. Continue Reading »