 How does a cash reward program work? Typically, the program awards points, "dollars" or a cash value based on the amount you charge. The rate at which you collect points varies depending on what you charge or where you charge it. Some programs offer extra points for using their card at a specific place such as a supermarket or fast food restaurant or for certain items.
Some programs offer a variety of rewards. Consumers can earn meals, tickets to sporting events, airline tickets, electronics, or even create their own reward program.
The goal is to get you the consumer to use your credit card as much as possible. Why? FEES! The credit card issuer makes money from two sources each time you use their card. First, from the merchant who pays the issuer a merchant transaction fee and secondly, from you through finance charges and late fees. A recent survey found that nearly half of U.S. cardholders enrolled in a credit card rewards program have never redeemed their points. However, 60% of consumers said rewards program influences their decision when deciding which credit card to use for a purchase.
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Card issued by FIA Card Services, NA.
Miles can be used for award travel on Star Alliance member airlines
Up to $1,000,000 in travel accident insurance.
Toll free, 24 hour customer service**
Free Photo Security Option
Total Security Protection Pacakge
Complimentary Mini Card
See website for additional benefits.
*See website for complete terms and conditions of card usage and application disclosure. *Terms and Conditions
APR (Purchases): Intro Rate - 1.9% for six billing cycles. Goto rate is a variable risk based rate between Prime + 6.99% and P + 10.99%
APR (Balance Transfers): Intro Rate - 1.9% for six billing cycles. Goto rate is a variable risk based rate between Prime + 6.99% and P + 10.99%
APR (Cash Advances): 21.99% Variable* minimum 19.99%. (P + 15.99%)
Finance Configuration: Average Daily Balance (including new purchases)*
Annual Fee: $80
Additional Cardholders: $0
Grace Period: 20 Days (Min.)
Minimum Credit Limit: $2,000
Maximum Credit Limit: N/A
Late Payment Fee: $19 on balances up to $100; $29 on balances of $100 up to $1,000; and $39 on balances over $1,000
Over-The-Limit Fee: $35
Cash Advance Fee: 3%, $10 minimum
Foreign Currency Conversion Fee: 3% of foreign transaction
Balance Transfer Fee: None
Reward Program Details:
- Miles per Dollar: 1 Mile
- Miles per Dollar spent on Asiana Airlines ticket purchases: 2 Miles
- Miles Compatible with Frequent Flyer Programs: Yes
- Yearly Limit on miles you can earn: 100,000
- Bonus Miles: 5,000 miles upon 1st purchase
- Anniversary Bonus Miles: 2,000 each year when you renew your card
- 90% discount on a full fare business or First class ticket for a companion (per year)
- $500 discount toward the purchase of a full fare Business Class ticket with free First Class upgrade (per year)
- 2 Free Asiana lounge passes (per year)
*See website for complete terms and conditions of card usage and application disclosure. *Terms and Conditions
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