 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.
Total Security Protection® Package Mini Card
Up to $500,000 in travel accident insurance.
Emergency Card and Ticket protection
Free Year End Summary statement
Purchase Guard
Purchase Protection
Auto Rental Insurance
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%
Annual Percentage Rate (APR) for Cash Advances: 21.99% Variable * minimum 19.99% . (P + 15.99%)
Finance Configuration: Average Daily Balance (including new purchases)*
Annual Fee: $45
Additional Cardholders: $0
Grace Period: 20 Days (Min.)
Minimum Credit Limit: $500
Maximum Credit Limit: $20,000
Late Payment Fee: $19 for balances less than $100, $29 for balances $100 to $1,000, $39 for balances greater than $1,000
Over-The-Limit Fee: $35
Cash Advance Fee: 3%, $10 minimum
Balance Transfer Fee: None
Reward Program Details:
- Earn one free Companion Ticket Coupon the first year, after first purchase
- Receive a $99 Companion ticket Coupon annually, thereafter
- Bonus Miles: 2,000 Anniversary Bonus Miles each year
- 1 mile per dollar spent in net purchases
- 2 miles for every dollar spent with Mexicana Airlines
- Miles Never Expire
- No Mileage Cap
- 4,000 Welcome Miles when you join Frecuenta Loyalty Program
- Travel available on Mexicana or any of their more than 15 partners
- Most program materials available in English and Spanish
*See website for complete terms and conditions of card usage and application disclosure. *Terms and Conditions
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