• 0% Intro APR for up to 12 months on purchases and balance transfers
• No annual fee
• 24/7 online account access
• Worldwide travel accident insurance
• Rental car insurance
• Free account alerts

Just like most other credit cards available there is a 3% transfer balance fee. even though you can take advantage of the 0% APR on the balance transfers you need to make sure the fee is not more than why you would pay on your current credit card. There are no rewards with this credit card. The Chase Platinum Credit Card is good for consumers who are trying to build or fix their credit history. College students should look into applying for it if nothing else works.

After the 12 month introductory period is over with the interest rate will move up to 9.24% to 13.24% depending on your credit score and payment history. To get approved on the Chase Platinum Credit Card you will need to have Good to Excellent credit history.

The Chase Platinum Credit Card will give you every thing you need from a low rate credit card except for the rewards programs. It is smart to apply for this credit card to build up your credit history or to take advantage of the balance transfer to consolidate some debts.

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Chase Platinum Credit Card

When you apply for the Discover Open Road Credit Card you will be offered a fixed rate of 0% for the first 9 months of the credit card. After the introductory time period the interest rate does become variable and is determined by your credit history. You will also have the opportunity to take advantage of 0% interest rates on balance transfers for the first year. Do note that if you do decide to transfer over balances from other high interest credit cards you will be charged a one time fee of 3% of the balance you plan to transfer. The balance you transfer cannot earn any rewards. The rewards you earn can only be earned from new purchases you make with your Discover Open Road Credit Card.

The rewards program works like this. You earn 5% cash back on all gasoline and car maintenace purchases. You earn rewards from places such as gas stations, auto parts stores, car dealerships, tire stores, and even car washes. The 5% cash back rewards will accumulate up to the first $1,200 in purchases at those places. After the first $1,200 you rewards will drop down to 1%. Still not bad.

Your cash back rewards can be redeemed at $20. Its up to you when to decide when to cash them in. The only way you can lose your rewards is if your account is closed for inactivity during a 18 month time period or if you fail to make two consecutive payments on time. If you send your checks in on time every month you have nothing to worry about. If you rent cars a lot you are covered under the Discover Open Road Credit Card insurance policy. No need to pick up the damage waiver when renting. Discover handles all of this for you.

What makes the Discover Open Road Credit Card so unique is its easy to use and understand. You get a great low rate credit card and earn 5% cash back on a purchase you make all the time.

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Discover Open Road Credit Card

If you are somebody that pays their bill off every single month and has never been late or missed a payment it does not really matter which way you go. Your not going to carry a balance anyways so picking the low rate credit card or the one with a 0% introductory rate will not matter. Seeing balances on anything bothers the heck out of you so its not going to happen. You do not like paying interest of any kind and the only one you know you can’t get around is the one that is on your mortgage.

If you do carry a balance than you are stuck in this debate. Should you risk taking a credit card with a 6 or 12 month 0% introductory rate or not? Let’s say that right now you already have a balance on a credit card and the new credit card is guaranteeing a small fee to transfer a balance but keep your rate at 0% for 12 months. In this case it would make sense to do it only if the fee is not more than what you would pay in interest over the year. If you know that you are going to use this card more and that paying down the balance is not an option than take the introductory rate. It will probably save you from big interest payments and make your life a whole lot easier.

The downside to this is that you are passing up on a credit card that will maintain a low interest rate over the life of the credit card. With major banks and credit card companies hurting right now in this economy many are willing to give you a credit card fixed at 5% as long as you do not miss a payment. That is a pretty tempting offer for anybody regardless of your credit history. If you pass it up you might not be able to get approved for another one in the future.

The low fixed rate credit card is perfect for everybody. The interesting thing is that most credit card companies will still offer you at least 6 months at 0% interest on a fixed rate credit card. In this case, you get the best of both worlds. You can take advantage of the introductory rate and at the end of it you will still get the fixed rate for the life of the credit card. This is assuming that you have a great credit history and that you can get approved for the card. If you cannot get approved on the credit card than you need to improve your credit scores. Doing so will help you get an approval next time. When banks see that you do not carry a balance next time they are going to offer the best rate on any credit card they have.

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