Chase Visa Credit Card

  Chase Visa Credit Card  - Things to watch out while applying for Chase Platinum Visa Credit Card  - May 22, 2007  

Looking for a credit card with excellent reward program, and reasonable terms? The Chase Platinum Visa Credit Card has all the features to bowl you over. However, to get the maximum out of your Chase Platinum Visa Credit Card there are certain things to be kept in mind. Let us look at a few of them.

The Chase Platinum Visa Credit Card issued by J.P Morgan Chase has no annual fee and provides a good number of platinum card holder benefits. The card comes with a 0% intro APR for up to 12 months. The thing to be kept in mind regarding this APR is that the introductory rate period will largely depend on your review of application and credit history by chase. Depending on this assessment the introductory period can be either 12 months for purchases and balance transfers or 3 months for balance transfers only. In addition to this to get full benefit of 0% intro APR it is vital that terms and conditions listed with the Chase Platinum Visa Credit Card be followed carefully. These terms can greatly vary how your introductory rate is applied to existing balances. If you are good on your repayments and pay your balances in full before the due date the Chase Platinum Visa Credit Card doesn't charge you any interest.

The platinum benefits that come with Chase Platinum Visa Credit Card allow participation in chase fleixble rewards program. In this program cardholders can earn 1 point per eligible dollar spent. These points can be redeemed for gift cards, travel discounts, merchandise or cashback. The thing to watchout about the Chase Platinum Visa Credit Card reward program is that the reward points are not earned on fees for products that protect or insure the balances of the card member's account. If you use a travel agency service, you have to pay a 'mileage redemption' fee of $14.95.

The reward program of Chase Platinum Visa Credit Card has many fare and space related restrictions. The flights must be booked 21 days in advance and there are tabs on saturday night stays. The Chase Platinum Visa Credit Card doesn't allow the reward programs to be transferred to another frequent flyer programs and there are prefferecd choice of carriers like Continental, Northwest, U.S. Airways, American, Delta, United, and other airways.

If accepted for the Chase Platinum Visa Credit Card, a detailed copy of terms and conditions will be mailed to you. It is in the best interest of credit card holder to read it carefully before using the credit card. Once used, the credit card company assumes acceptance of all such terms and the cardholder becomes legally bound with the terms and conditions. The above facts and terms listed in this article can change anytime without any notice. The latest details about Chase Platinum Visa Credit Card can be had from chase website and reader is encouraged to go through the details to get more insight about this great credit card.

  Chase Visa Credit Card  - Various APR's of the Chase Freedom(SM) Cash Visa(R) Card  - Jun 29, 2007  

The Chase Freedom(SM) Cash Visa(R) Card offer terms mention the APR as 14.24 variable. However a look at the terms and condition of this card and you find that there is a lot more to the APR's than this figure. Let us analyze it a bit more.

APR stands for Annual percentage rate. It is the interest rate that credit card companies charge on the outstanding balances. The first thing to note is that the APR is available for three different pricings. The Elite, the Premium and the Standard. The APR varies for these three pricing range. The Chase Freedom(SM) Cash Visa(R) Card has a 0% fixed APR for the first 6 billing cycles for the Elite and Premium pricing. After this 0% intro APR period is over the APR will change to 14.24% variable for Elite pricing and 18.24% variable for Premium pricing. The main point to note here is the APR's for Standard pricing. For this category there is no 0% intro APR period and the APR rate is 23.24% variable from the day of account opening.

The credit card issuing company first considers for the pricing with the lowest rates. Depending on a review of your credit history and other information a person can get the Chase Freedom(SM) Cash Visa(R) Card at the lowest rates or alternative rates. The credit card company if finds that a particular applicant is not suitable he or she might not be allowed to open an account.

The second thing to note is that all these APR's except the 0% Intro APR are variable. A variable APR means that it can vary over a period of time. The variable APR is tied to the prime rate. The "Prime Rate" is the highest prime rate published in the Money Rates column of The Wall Street Journal two business days before the Closing Date on the statement for each billing period. Variable APR's are based on the 8.25% prime rate on 07/05/2006. The variable APR is an APR rate added to this prime rate subjected to certain minimum.

In addition to the above APR's the Chase Freedom(SM) Cash Visa(R) Card comes with the following APR's

Balance Transfer APR:

Elite and Premium Pricing: A 0% fixed APR for the first 6 billing cycles following the opening of account. After that, 14.24% variable for Elite Pricing, or 18.24% variable for Premium Pricing. Standard Pricing: A 0% fixed APR for the first 3 billing cycles following the opening of your account. After that, 23.24% variable.

Cash Advance APR:

Elite and Premium Pricing: 24.24% variable. Standard Pricing: 28.24% variable.

Default APR:

Up to 32.24% variable.

The issuers of Chase Freedom(SM) Cash Visa(R) Card can apply the default APR in any of the following cases:

If the credit card company doesn't receive, for any payment that is owed on this Account or any other account or loan with us, at least the minimum payment due by the date and time due

If the card holder exceed your credit line on this Account.

If a cardholder makes a payment to the issuing company that is not honored by the cardholder's bank.

By now it might be obvious to you how important it is to read the terms and conditions of any credit card before deciding on it. This can give you a fair idea about how your APR will vary, when you use the credit card. This can save a lot of frustration and money for the credit card holder.

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