American Express Blue Cash Preferred $400 Signup Offer With First-Year Fee Waiver

The Offer

American Express cardholders can find their referral link in their Amex login or via public link. Check for the following offer:

  • Blue Cash Preferred is offering a bonus of up to $400. Bonus broken down as follows:
    • Earn 20% back at Amazon up to $200 back
    • Earn $200 when you spend $3,000 within the first 6 months

Card Details

  • Annual fee of $95 waived first year
  • Card earns at the following rates:
    • 6% cash back at U.S. supermarkets (up to $6,000 in spend annually, then 1%)
    • 6% cash back on select U.S. streaming subscriptions
    • 3% cash back at U.S. gas stations
    • 3% cash back on transit (e.g taxis/rideshare, parking, tolls, trains, buses and more)
    • 1% back on all other purchases
  • You can only get the sign up bonus on American Express cards once

Our Verdict

Previous best bonus was $300, but that didn’t require the Amazon spend. This does require $1,000 in Amazon spend which could be difficult for some people, but if you can do that then this is a good deal (purchasing gift cards should work fine). We will be adding this to our list of the best credit card bonuses.

Hat tip to US Credit Card Guide

Source: doctorofcredit.com

[Targeted] Chase United: Earn $1 In TravelBank Per Transaction

The Offer

Targeted offer, sent out via e-mail

  • Some Chase United cardholders are being offered TravelBank Cash. There are two variations of this offer:
    • Earn $1 in TravelBank for every transaction you make that you spend $100+ on your card within that month (limit of $10 per month). Valid until 12/31/21
    • Earn $1 in TravelBank for every transaction you make that you spend $300+ on your card within that month (limit of $30 per month). Valid until 12/31/21

The Fine Print

  • TravelBank cash is valid until 6/30/22

Our Verdict

This stacks with the standard earning on the card, plus the limited time spending offers until 6/30/21.

Hat tip to @madrockxvx & Dans Deals

Source: doctorofcredit.com

Bank of America Premium Rewards Earns 2x on Grocery Purchases through December (3.5% for relationship clients)

(Reposting 5/5/21 since an email went out today with details on this offer.)

The Bank of America Premium Rewards card has added a bonus category through December 31, 2021, (showing on the regular landing page):

  • Earn 2x points on grocery store purchases through December 31, 2021 (instead of the regular 1.5x).

This works for both new cardholders and existing cardholders, as readers have verified in the comments.

Nice little bonus, especially for relationship customers who earn a 75% bonus which makes it a total 3.5% at grocery stores. There are still other cards that earn more than that at the grocery, but some might appreciate 3.5% uncapped return.

Hat tip to Dealspoints

Source: doctorofcredit.com

Barclays jetBlue Plus Card – 60,000 Point Bonus

Update 5/5/21: Deal is back, not as good as the recent 100,000 point offer though. Hat tip to reader Scotty

Update 8/10/20: Still available. Hat tip to reader EB

The Offer

Direct link to offer

  • Barclays offering a sign up bonus of 60,000 JetBlue points after $1,000 in spend within the first 90 days of account opening on the JetBlue Plus card.

Card Details

  • Full Review Here
  • Card earns at the following rates:
    • 6x points per dollar spent on jetBlue purchases (previously 2x points)
    • 2x points per dollar spent on restaurants and groceries (previously 1x point)
    • 1x points per dollar spent on all other purchases
  • Annual fee of $99 (not waived first year)
  • Free checked bag for the primary cardmember and up to three companions on the same reservation when you use your JetBlue Plus Card to purchase tickets on JetBlue-operated flights
  • Earn 5,000 bonus points every year after your account anniversary
  • Enjoy all Mosaic benefits for one year after you spend $50,000 or more on purchases after your anniversary date
  • Get 10% of your points back every time you redeem to use toward your next redemption
  • No foreign transaction fees
  • $100 statement credit after you purchase a Getaways vacation package with your card
  • 50% savings on eligible inflight purchases including cocktails, food and movies

Our Verdict

This is the highest bonus we’ve seen on this card, it was last offered in late 2017/early 2018. The standard bonus is 40,000 and we frequently see 50,000 points but this 60,000 offer is extremely rare. There is also a 60,000 point bonus on the business version of this card. JetBlue award flight prices are linked to the cash price of a ticket, much like Southwest. If you have any questions about Barclays credit cards, read this post first.

If you can make use of jetBlue flights then I do think this is a great offer and I will be adding it to the list of the best credit card bonuses.

Hat tip to reader Christian R

Post history:

  • Update 4/29/20: Offer still available and being promoted by jetBlue
  • Update 2/3/20: Reposting as there is now a direct link. Hat tip to reader Yawgoog

Source: doctorofcredit.com

Bank of America Premium Rewards Earns 2x on Grocery Purchases through December 2021

The Bank of America Premium Rewards card has added a bonus category through December 31, 2021, (showing on the regular landing page):

  • Earn 2x points on grocery store purchases through December 31, 2021 (instead of the regular 1.5x).

Nice little bonus, especially for relationship customers who earn a 75% bonus. There are still other cards that earn more than that at the grocery. 

Hat tip to Dealspoints

Source: doctorofcredit.com

How is credit card interest calculated?

How is Credit Card Interest Calculated

If you’re like most people repairing their credit card debt, your credit card’s annual interest rate is a mystery to you. You might even avoid thinking about it or looking at it, because it’s such a large number. Interest rates can make it difficult to get out of debt quickly, because you’re working against a large percentage—as much as 16% or even 20% annual interest.

Credit card interest is calculated using a complicated formula that can be confusing to many people. So it often remains a puzzle to borrowers. But it’s important to understand the basics of credit card interest, because it will help you to repair your credit card debt quicker—and to be a smarter credit card user. Here’s how credit card interest works.

How Is Credit Card Interest Calculated?

credit card interest calculation

If you’ve watched your interest rate closely, you may have noticed that it has changed since you first opened your credit card. Many credit cards offer a low introductory interest rate that increases after the period is over. But even after that, your annual interest rate will often go up and down. That can be confusing, and even a bit unsettling.

Your interest rate changes

The first thing you should understand is that your credit card uses a variable interest rate. That means that the interest rate can change over time. A variable rate is tied to a base index—usually the U.S. prime rate. As the U.S. prime rate goes up or down, so will your credit card’s interest rate.

Right now, the U.S. prime rate is 4.25%. But your credit card’s interest rate is probably closer to 18.25%, or even more. That’s because credit card companies charge an additional amount above the U.S. prime rate—perhaps 14%, but it varies from card to card. So your total interest rate will be closer to 18.25%, annually. If the U.S. prime rate raises or lowers, your annual interest rate will also go up or down by the same amount.

The factors that influence the U.S. prime rate are reviewed every six weeks. The prime rate could stay the same for years, or it could change every six weeks. It all depends on current federal economic conditions and forecasts.

Your interest rate is annual

It’s also important to understand that your credit card’s interest rate is an annual rate. So if your annual rate is 18.25%, that amount is applied per year—not per month. But since you’re billed monthly, your interest is calculated each month, using an average daily balance method.

Calculating your interest rate

Here’s how the average daily balance works:

  1. Determine the daily periodic rate (DPR)—the interest rate you pay each day. DPR is your current interest rate (it varies, remember) divided by 365. So, 18.25 / 365 = 0.05%.
  2. Determine the average daily balance for the month. This is done by adding up the balance for each day of the billing period, then dividing that sum by the number of days (either 30 or 31 days—or 28 in February!). If you had a balance of $0.00 for 10 days, then $500.00 for 10 days, then $1000.00 for the last 10 days of the month, your average daily balance would be $500.00.
  3. Multiply the DPR by the number of days in the billing cycle, then multiply that total by the average daily balance. This is your interest for the month. So, a DPR of 0.05% * 30 days = 1.5%. 1.5% * $500.00 = $7.50.

That might not sound like much, but if you’re an average cardholder in the United States, you’re carrying a credit card debt of $16,000.00. That means you’re paying $2,880.00 per year in interest alone, in this scenario.

How Can I Avoid Paying So Much Interest?

When you’re working hard to repair your credit card debt, it can be frustrating to be fighting against a high interest rate. But there are ways you can reduce—or even eliminate—the amount of credit card interest you’re paying each month.

Pay more than the minimum balance due

Your credit card statement lists a minimum amount that you must pay each month. Your interest for the month is rolled into that minimum payment. But if you pay more than the minimum, every dollar above that minimum goes towards your principal balance. There’s no interest charged on it.

In other words, if your minimum payment is $500.00 and you pay $600.00, that extra $100.00 is applied to the amount you borrowed—it’s interest-free. And that benefits you in two ways:

  • You’re paying off debt without paying interest
  • You’re lowering the dollar amount of interest you’ll have to pay next month, because your average daily balance will be smaller.

Open a balance-transfer credit card

credit card interest

A balance-transfer card can be a very helpful way to repair your credit card debt. A transfer credit card has a very low introductory interest rate—often as low as 0%. The card lets you transfer your balance from other debt onto the new card. You can then make monthly payments on the transfer card to pay down your existing debt.

But the low interest rate is only valid for a limited time—usually six to 18 months—so you’ll need to pay off the debt before the introductory rate expires. You should also do your homework: some transfer cards charge a transfer fee. And some charge a penalty APR, which allows the credit company to charge you a high interest rate if you miss a payment.

Pay off Your Credit Card Debt Faster

Your credit card’s annual interest rate doesn’t have to be a confusing mystery, and you don’t need to know everything there is to know about interest rates. But when you understand the basics of variable interest rates and how they’re calculated, you can use that information to repair your credit card debt faster and easier. Paying more than the minimum balance due and using a balance-transfer card can be very helpful ways to use interest rates to your advantage.


A reputable credit repair specialist can help you find other ways to successfully get out of credit debt. If you’re tired of struggling on your own, find out how our advisors can help you repair your credit debt. Contact us today.

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Source: lexingtonlaw.com

Chase Annual Fee Can Now Be Paid with Pay Yourself Back at 1.5 Cents-Per-Point

Chase has added the $550 Annual Fee as an addition to the charges which can be redeemed via PayYourselfBack at 1.5 cents-per-point on the Sapphire Reserve card. Valid until 12/31/21.

This addition isn’t the biggest deal currently since most people can easily spend on grocery/dining and get 1.5 PYB that way, but still a nice addition, for sure.

I assume this annual fee offset is an option at 1.25 cents-per-point on the Sapphire Preferred and INK Preferred cards as well.

Full list of PYB categories as of May 2021:

  • Annual fee
  • Grocery stores
  • Dining
  • Home Improvement stores
  • Select charities
  • Fund a vaccine ride with Lyft

Hat tip to readers DailyGrindIt, CDW, Eric

Source: doctorofcredit.com