As usual, the card also offers up to 5% cash back in categories that rotate quarterly and comes with no annual fee.

For more info or to apply, see this link:
Discover® More Card – $0 Balance Transfer Fee

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Discover More Card: 0% for 12 Months, No Balance Transfer Fees is Back

PenFed is encouraging existing Platinum Cash Rewards Card cardmembers to switch to the new points-based card by offering a limited-time bonus of up to 25,000 points worth $250 towards merchandise, gift cards or other rewards. Existing cardmembers can earn 5,000 the first time they use their new rewards card and another 20,000 points for spending $1,000 within the first 3 months.

To switch to the new points card, visit PenFed.org/MoreRewards. (Note that even if you do decide to transition to the new card, you won’t actually be switched until the start of your first billing cycle after February 1, 2012.)

With these changes, the cash back card remains an excellent option for gas, as it will continue to earn a 5% rebate, credited monthly. But it’s hard to recommend its use for anything else.

The points reward card on the surface appears to be a good alternative, though just how good it is will be dependent upon how well its reward options, such as gift cards, suit you. To get an idea of the rewards you may be offered (as well as how much they may cost), you can look at the rewards available for the PenFed Travel Rewards Amex here. It should be noted, however, that if you had both a PenFed Travel Rewards Amex and the new PenFed Platinum Rewards Visa, the points earned from each card would go into separate pools that cannot be combined, so it’s safe to assume that the rewards offered for each card will be different as well.

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PenFed to Downgrade Its Cash Back Visa, Introduces New Platinum Rewards Card

As you can see, provided that you wait until you have at least 25,000 points to redeem, the Sallie Mae Visa is in fact a 2% rebate card.

How does it compare to other cash back cards?
With its tiered redemption schedule, the Sallie Mae Visa isn’t as convenient as the old Schwab card. It also has a 3% foreign transaction fee, so it’s not the first card you should consider taking with you on your travels. It is, however, a Visa, which means you’ll be able to use it in a lot more places than the 2% Fidelity Amex. Unlike the Fidelity Amex, it also doesn’t require that you have a Fidelity account.

One other concern that I would have, however, is that it is very easy for a points-based card to pull a bait and switch and devalue your points. If the card becomes popular and Sallie Mae finds that it’s losing money, it would be very easy for them to change the cash rebate redemption schedule so that your points are suddenly worth a lot less.

For the moment, though, it is a rare opportunity to earn a 2% rebate on all of your purchases.

2% Sallie Mae Visa Link

The “Other” Sallie Mae credit card
Note: There is also another Sallie Mae credit card offer available at www.salliemae.com/5percent. That card offers 5% cash back on gas and groceries (on up to $500 in spending per month), 5% on books (on up to $1000 in spending per month) and 1% on everything else.

This “5% Sallie Mae” card appears less attractive overall than the 2% Sallie Mae option for a couple of reasons: 1) The amount of spending on which you can earn 5% is capped each month (which, depending upon your spending habits, may or may not be a big deal), and 2) its bonus categories overlap with other, often better, credit card choices.

For instance, the PenFed Gas Card offers a 5% cash rebate on gas with no spending cap. Similarly, the Citi Forward Card offers 5 points per dollar on books, movies and music with no cap. For groceries, the Amex Blue Cash Preferred Card has a 6% rebate, though at the cost of a $75 annual fee.

The best choice for you will, as always, depend on your spending habits. It’s worth noting that Sallie Mae does allow you to have both its credit cards, should you so choose.

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Sallie Mae Visa Signature Card Review: 2% Cash Back Credit Card?

Update 12/19/11: This offer has now expired. To view the current Chase Freedom deal, see this link.
Update 1/24/12: Looks like the offer is back. See this link for details.
Link (Via SD)

Note: As is often the case with Chase, if you recently applied for a Freedom card with a less lucrative bonus, you can ask Chase to match this offer. The best way to do this is to log into your account online and send a secure message to customer service. Tell them that you saw an offer with a $300 bonus and ask politely if it can be matched. Assuming you haven’t had the card for too long (the guideline appears to be within 90 days of your account open date), they’ll usually credit you the difference.

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Chase Freedom – $300 Signup Bonus

The vast majority of customers will be switched into the new BankAmericard Cash Rewards card with no annual fee. It earns 3% cash back on gas, 2% on groceries and 1% on everything else. When you redeem your rebate into a Bank of America checking or savings account, you’ll also earn a 10% cash bonus. Alternatively, customers can choose to be switched into the BankAmericard Privileges credit card. It earns 1 point per $1 on all purchases with 3x points in rotating categories that change on a quarterly basis. It also earns a 50% cash bonus when points are redeemed into a Bank of America or Merrill Lynch account. The Privileges card carries a $75 annual fee which is waived for the first year.

There are also reports that a lucky few have received a special targeted offer for a Cash Premier Visa card that offers a 2.5% cash rebate on all purchases when deposited into a Bank of America account for an annual fee of $25.

What’s the next best thing?
Needless to say, while the Bank of America Cash Premier Visa sounds like a great opportunity for those who are offered it, the “3-2-1″ and Privileges card are underwhelming. Schwab refugees looking for an alternative should consider one from our list of the best cash back credit cards. Options such as the Fidelity Amex or Visa are strong contenders if you have a Fidelity account.

Another possibility is to use this opportunity to switch to a points-related travel card. The SPG Amex and Chase Sapphire Preferred card remain popular choices in that category.

At any rate, it was a great run while it lasted. And one can always hold out hope that something similar (or better!) will resurface in the future.

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Farewell Sweet Schwab Card

For those unfamiliar with the Citi Dividend, it’s similar to the Chase Freedom and Discover More cards in that it offers a flat 1% cash rebate on all purchases, with the opportunity to earn 5% on categories that rotate throughout the year. Currently, you’ll earn 5% cash back on airlines, hotels and car rentals through September 30, 2011.

Note: This $300 bonus offer has expired. You can still, however, get a $200 bonus after only $500 of spending on the Dividend World MasterCard here.

Citi Dividend World MasterCard $300 Bonus application

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Citi Dividend World MasterCard – $300 Signup Bonus

As with all Capital One cards, one of the better benefits is its lack of foreign transaction fees, making it a good card to carry when traveling overseas.

How does it compare to the competition?
How does it stack up to existing cash back cards? Does it deserve a place among the best cash back credit cards? Based on its features, I would say it fares quite well. Of course, nothing currently on the market compares to the now-unavailable 2% Schwab card. There are a few cards that can pay a bit higher rebate than the Cap One Cash card, such as the 2% Fidelity Amex or 1.75% PNC Visa, but they require having a relationship with a specific financial institution. And there are of course cash back cards that pay more in specific spending categories. But for many, the simplicity and flexibility of this card’s reward structure will be appealing.

If you’re an existing No Hassle cardholder, you can upgrade your card to the new version by calling Capital One at the number on the back of your card.

To apply for a new card or for more info, see http://www.capitalone.com/cash/.

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Capital One Cash Rewards Credit Card Review: 1.5% Cash Back on Everything

The card also has an intro 0% APR on both purchases and balance transfers for the first 6 months, although balance transfers are assessed a hefty 5% fee, with a $15 min and no cap. There is, however, no annual fee.

Ink Cash Business application

Another Ink business credit card offering a $250 bonus is the Ink Bold with Ultimate Rewards. The Ink Bold is a pay-in-full card with no interest expense and up to 30 days to pay.

Under the Ink Bold offer, you’ll earn 25,000 bonus points after your first purchase (worth $250 in cash, or more if redeemed for travel). In addition, you can earn over 45,000 additional bonus points every year for meeting specified spending thresholds. For instance, once you spend at least $25,000, you’ll receive 7,500 bonus points. Upon reaching $50,000 in net purchases, you’ll earn another 15,000 bonus points. And finally, upon exceeding $100,000 in net purchases, you’ll receive an additional 25,000 bonus points. What this means is that if you spend exactly $100,000 in a year, your effective cash back would be 1.475%. If redeemed for travel through Ultimate Rewards, your points will be worth 25% more.

The annual fee of $95 is waived for the first year under this offer.

Ink Bold with Ultimate Rewards application

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Ink Business Credit Cards from Chase: $250 Signup Bonus

As is standard for the card, it carries no annual fee and you’ll earn 5% in categories that rotate quarterly. For instance, from July 1 through September 30, 2011, you’ll earn 5% on up to $1,500 in spending on gas, hotel and airline purchases. All other purchases earn 1% cash back.

Link

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Chase Freedom Visa: $200 Signup Bonus is Back

Check it out: Amex Blue Cash Rebate Calculator

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Blue Cash Rebate Calculator

The Blue Cash Preferred, on the other hand, has a $75 annual fee and earns a 6% rebate at supermarkets, 3% at gas stations and department stores and 1% everywhere else.

Rebates are earned in the form of Reward Dollars, which may be redeemed for statement credits, or additional items like merchandise and gift cards, whenever your available Reward Dollar balance is 25 or more.

The big difference between the new generation and the previous generation of the card, apart from the category changes, is that Amex has removed the tiered rebate structure. Whereas the old Blue Cash required annual spend of at least $6500 before you started earning 5% at gas stations, grocery stores and supermarkets and 1.25% everywhere else, the new versions have no such tiers. That means that from your first dollar in spend, you’ll earn 6% at supermarkets with the Preferred card (3% for the Everyday card), thus making it a more attractive option for lower or more moderate spenders.

This post is from Credit Card Watcher, where you'll always find the best credit card deals.

New Amex Blue Cash Preferred Card: 6% Cash Back at Supermarkets

Is there a viable replacement for the sorely missed Schwab Visa card? What cards are worth looking at? Are there cards missing from the list? Check it out!

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Best Cash Back Credit Cards – Spring 2011 Edition

After the intro period is over, however, there are ways to boost the 1.25% rebate. You can either earn more based on either your spending in a billing cycle or the extent of your banking relationship with PNC.

If you spend between $2,000 and $4,000 in a billing cycle, you’ll earn a 1.5% rebate in your next billing cycle. If you spend over $4,000 in a billing cycle, your purchases in the next billing cycle will earn rewards of 1.75%.

Alternatively, you can boost your earnings with qualifying performance deposit accounts with PNC. If you have a “Qualifying Performance Deposit Account” on the last day of a billing cycle, you’ll earn 1.5% cash back on your purchases in the next billing cycle. A “Qualifying Select Deposit Account” will earn 1.75% on the purchases in your next billing cycle.

PNC defines these accounts like this:

A Qualifying Performance Deposit Account is a PNC Bank Performance Checking Account or the Spend and/or Reserve components of PNC Bank Virtual Wallet Performance in which you maintain (1) an average monthly balance of $1,500 or more in any one such deposit account or (2) a total average monthly balance of $10,000 or more in such deposit account and any linked consumer checking, savings, money market, line of credit, auto or home equity installment loan, mortgage loan or investment accounts for which you are a signer (other than as an agent). If the CashBuilder Account is in the name of more than one individual, all such individuals must be owners of the PNC Bank Performance Checking Account.

A Qualifying Performance Select Deposit Account is a PNC Bank Performance Select Checking Account in which you maintain (1) an average monthly balance of $5,000 or more in such deposit account or (2) a total average monthly balance of $25,000 or more in such deposit account and any linked consumer checking, savings, money market, or investment accounts for which you are a signer (other than as an agent). If the CashBuilder Account is in the name of more than one individual, all such individuals must be owners of the PNC Bank Performance Select Checking Account.

As a special introductory offer, these minimum balance requirements are being waived for new cardmembers who open an account by May 31, 2011. As long as you have a PNC Performance Select checking account, you’ll earn 1.75% cash back for the 2nd through 4th billing cycles. If you have a PNC Performance checking account, you’ll earn 1.5% cash back during this period.

Your cash back rewards can be redeemed once you’ve earned at least $50 and can be credited to your checking, savings or CashBuilder account. The card does not carry an annual fee.

Obviously there are strings attached, but if you already have an extensive banking relationship with PNC, 1.75% is an excellent untiered cash back rebate for a Visa, as it exceeds even the 1.5% offered by Fidelity’s Visa product.

For more information, or to apply for the credit card, see this link.

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PNC CashBuilder Visa Credit Card: Flat 1.75% Cash Back Possible

Before you rush out to apply, do first note that you must be an AARP member to be eligible for this offer. If you are not already an AARP Member, you can join by calling 1-800-424-3410 or visiting www.aarp.org.

To apply for the card, see www.aarpcreditcard.com.

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AARP Credit Card: Unlimited 5% Cash Rebate on Everything for 6 Months

Link

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Chase Freedom: $200 Signup Bonus

Sign up to earn 2% Cashback Bonus on Internet purchases from 11/15/10 (or the date on which you sign up, whichever is later) through 12/31/10, subject to a cap of $1,000 in purchases. These purchases must post to your account by 12/31/10. If a purchase is not classified as an Internet purchase, it will not qualify. Purchases earning 2% Cashback Bonus will not count toward your total annual purchases to determine your tier level. Allow up to 5 weeks for this reward to be added to your Cashback Bonus account. Only Discover More, Open Road and Motiva Cardmembers are eligible to participate in this program. See Cashback Bonus Program Terms and Conditions for further details.

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Discover Double CashBack Bonus For Internet Purchases

ABC WAREHOUSE
ABT ELECTRONICS
AMERICAN TV
AT&T
BATTERIES PLUS
BERNIE’S AUDIO, VIDEO & APPLIANCES
BEST BUY
BEST DENKI
BIC CAMERA
BOSE
CASIOLANDIA
COMET RADIOVISION
CRUTCHFIELD
CURRYS STORES
DBUYS.COM
DEEPDISCOUNT.COM
DICK SMITH ELECTRONICS
DIGITAL RIVER
DIRECTRON.COM
DIXONS STORES GROUP
EBAY
ECOST.COM
EL GIGANTEN
ELECTRONICS PLUS
FIRSTSTREET.COM
FNAC
FRYS ELECTRONICS
GEEK SQUAD
H H GREGG
HAM RADIO OUTLET
KLASS ELECTRONICS
LAOX
MAGNOLIA HI-FI
MAPLIN ELECTRONICS
MEDIA MARKT
MERITLINE.COM
MULTIMAX
MWAVE.COM
NEWEGG.COM
PALM INC
PC WAREHOUSE
PC WORLD
POWER BUY
RADIO SHACK
SATURN ELEKTRONIK
SHOP4TECH.COM
SONY CORP
SYMANTEC
TECCLAND
THE SOURCE
ULTIMATE ELECTRONICS
VERIZON WIRELESS
VIDEO ONLY
VIRGIN MEGASTORE
WESTERN APPLIANCE
ZOOM SYSTEMS

AND OTHER RETAILERS THAT USE VISA’S MERCHANT CATEGORY CODE (MCC) 5732.

Eligible sporting goods purchases include those from:

ACADEMY SPORTS & OUTDOORS
ACTION VILLAGE
ADIDAS
ALPHA SHIRT COMPANY
ALTREC INC
BACKCOUNTRY.COM
BANDON DUNES GOLF RESORT
BASS PRO SHOPS
BIG 5 SPORTING GOODS
BIG BEAR SPORTS CENTER
BRODER BROTHERS
CABELA’S INC
CAMPING WORLD
CAROLINA PANTHERS
CHAMPS
CHEAPER THAN DIRT
CLOTHING WORLD
COLUMBIA SPORTSWEAR
COMLAX
DECATHLON
DICK’S SPORTING GOODS
DOWNTOWN LOCKER ROOM
DUNHAM’S SPORTS
DUNN’S SPORTING GOODS
EASTERN MOUNTAIN SPORTS
EDDIE BAUER
EDWIN WATTS GOLF SHOPS
FOGDOG.COM
GANDER MOUNTAIN
GOLD’S GYM
GOLF DIMENSIONS
GOLF GALAXY
GOLF USA
GOLF WAREHOUSE
GOLFBALLS.COM
GOLFSMITH
GREEN BAY PACKERS
GREEN TOP SPORTING GOODS
HAT WORLD
HIBBETT SPORTING GOODS
HOIGAARD’S
HUDSON TRAIL OUTFITTERS
ICON HEALTH & FITNESS
INTERSPORT
JJB SPORTS
KATHMANDU
LAMMLE’S WESTERN WEAR & TACK
LIDS
LIFEWAY CHRISTIAN STORES
MAJOR LEAGUE BASEBALL PROPERTIES
MARY’S TACK & FEED
MAX MUSCLE
MC SPORTS
MIDWAY USA
MODELLS SPORTING GOODS
NBA
NEW BALANCE
NFL SHOP
NIKE
NORTH FACE
ORVIS CATALOG
OUTDOOR WORLD
PARAGON ATHLETIC
PATAGONIA
PATRIOTS PRO SHOP
PAYPAL
PLAY IT AGAIN SPORTS
PRO GOLF DISCOUNT
PUMA
REBEL SPORT
REI
ROCK BOTTOM GOLF
RON JON SURF SHOP
RUNNING ROOM
SCHEELS
SHENK & TITTLE
SHEPLERS
SHOE CARNIVAL
SIERRA TRADING POST
SPECIAL TEE GOLF
SPORT CHALET
SPORT EXPERTS
SPORTMART
SPORTS WORLD
SPORTSMANS GUIDE
SPORTSMAN’S WAREHOUSE
SUPERSPORTS
TENNIS WAREHOUSE
THE ATHLETE’S FOOT
THE CHILDREN’S PLACE
THE SPORTS AUTHORITY
TITLE 9 SPORTS
TOTAL GYM FITNESS
UNDER ARMOUR
WASHINGTON REDSKINS
WHITE STUFF
WHOLESALE SPORTS
WIGGLE
WORLDPAY

AND OTHER RETAILERS THAT USE VISA’S MERCHANT CATEGORY CODE (MCC) 5732.

See this link for full details of this offer. To learn more about the PenFed Cashback Visa or to apply for the card, see this link.

This post is from Credit Card Watcher, where you'll always find the best credit card deals.

PenFed Visa: Earn 3% Rebate on Electronics and Sporting Goods

• LOWES
• HOME DEPOT
• MENARDS
• COST PLUS
• ORCHARD SUPPLY
• OLD TIME POTTERY
• PARR LUMBER CO
• CANADIAN TIRE
• HD SUPPLY
• D & B SUPPLY
• ACE HARDWARE
• PRAKTIKER
• FNAC
• LEROY MERLIN
• K-RAUTA
• BAUMAX
• AMWAY
• MIGROS
• B&Q PLC
• DISNEY
• BRICO STORE
• KENT BUILDING SUPPLIES
• BEST BUY
• NEWEGG.COM
• RADIO SHACK
• FRYS ELECTRONICS
• PAYPAL
• BOSE
• SONY CORP
• ULTIMATE ELECTRONICS
• ABT ELECTRONICS
• AMERICAN TV
• FIRSTSTREET.COM
• VIDEO ONLY
• BERNIE’S AUDIO, VIDEO & APPLIANCES
• DEEPDISCOUNT.COM
• HAM RADIO OUTLET
• MWAVE.COM
• DIGITAL RIVER
• ECOST.COM
• SYMANTEC
• MULTIMAX
• MERITLINE.COM
• WESTERN APPLIANCE
• CRUTCHFIELD
• SATURN ELEKTRONIK
• BING LEE ELECTRICS
• DIXONS STORES GROUP
• DIRECTRON.COM
• CURRYS STORES
• MAGNOLIA HI-FI
• PALM INC
• JUMBO ELECTRONICS
• ANDERSON TV
• H H GREGG
• AT&T
• ONOFF
• EL GIGANTEN
• COMET RADIOVISION
• FNAC
• FUTURE SHOP
• THE SOURCE
• SHOP4TECH.COM
• ZOOM SYSTEMS
• VERIZON WIRELESS
• BOOLCHAND’S
• TECCLAND
• ABES OF MAINE
• ELECTRONICS PLUS
• IT CITY
• MAPLIN ELECTRONICS
• BATTERIES PLUS
• LAOX
• BEST DENKI
• BIC CAMERA
• CINGULAR WIRELESS
• VIRGIN MEGASTORE
• REX TV
• DICK SMITH ELECTRONICS
• EBAY
• MEDIA MARKT
• APPLE COMPUTER
• MIDORI ELECTRIC CO
• PC WAREHOUSE
• CARREFOUR

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PenFed Hot Summer Rewards: 3% Cash Back on Electronics and Home Improvement Purchases

Schwab has long since stopped marketing the credit card as it evaluates its profitability, so this news does not come as a great surprise. While existing cardholders are not supposed to be affected by this change, when a program stops accepting new customers, it’s not usually a good sign for its long-term viability.

It would sad news indeed if this marks the beginning of the end. With a flat 2% cash back on all purchases and no foreign exchange fees, the Schwab Visa has been my primary cash back card for a while now.

As the report indicates Schwab is no longer accepting online applications, new customers can apply by phone, by calling 866-724-9223.

This post is from Credit Card Watcher, where you'll always find the best credit card deals.

Schwab Visa to Stop Accepting New Applications?

Effective April 1, 2010, customers will be eligible to earn 5 percent cash back on the most popular spending categories, like dining, drug stores and grocery stores, through seasonal promotions. Other purchases would continue earning a 1% rebate. Gone, however, is the $50 bonus for redeeming $200 in rewards at once. And much like Discover’s program, cardholders will have to sign up for the quarterly promotions and are limited to how much spending will earn the 5%.

Beginning March 15, 2010, Chase Freedom(SM) cardholders can enroll in second quarter promotions for a 5% rebate at home improvement stores, lawn and garden outlets, home furnishing retailers and drugstores.

This post is from Credit Card Watcher, where you'll always find the best credit card deals.

Chase Freedom(SM): Now with 5% Rotating Rewards

Unfortunately, this deal is only available to those in South Florida, as you will need to visit a branch location in person. While you do not need to be a member to apply, you will need to become one to open your account. Membership is open to anyone who lives, works or goes to school in Broward or Palm Beach Counties, Florida, and relatives of anyone who is eligible.

For more information, see this page.

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BrightStar Credit Union Credit Card: 0% Balance Transfer for 6 Months, No Fees

• Change from fixed to variable rate – if your card can be used for purchases or cash advances, your rate will now be variable.
• Overlimit fee will be eliminated
• The foreign transaction fee will be increased to 2%
• Payments made in excess of the minimum payment will now be applied to the highest APR first
• Payments will be credited the same day if received by 5PM local time

While it is sad to see the foreign transaction fee increased, there are still other options for no fee forex cards, the Schwab Visa being chief among them. And with its 5% gas, 2% supermarket and 1.25% rebate on everything else, the Penfed Visa is still overall an excellent card. But like many other casualties of the credit crisis, it’s not quite as great as it used to be.

This post is from Credit Card Watcher, where you'll always find the best credit card deals.

PenFed Visa to Start Charging Forex Fee

To earn the signup bonus, you must spend or balance transfer at least $500 during the first 3 months of opening your account.

More details can be found here: Link (Via SD)

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Chase Freedom: $100 Signup Bonus

I could not find mention of a cap on rebates for this promotion, which would make it very hot when you actually take a look at the list of retailers which are eligible. Every major electronics store, computer manufacturer and book store is listed, including Apple, Dell, HP, Amazon.com, Best Buy, among a host of others. More info and the list of eligible merchant category codes can be found here.

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Penfed Visa: 5% Rebate on Computers, Software, Electronics, Office Supplies and Books

• Cash back redemptions, which either are transferred to a bank account or issued as statement credits, will now only start at $50, and must be made in multiples of $50.
• In addition, gift card redemptions will still start at $20 but no longer need to be in multiples of $20.
• Transactions conducted in a foreign currency will begin being charged a 2% fee.
• Perhaps most importantly, the first $3000 of annual spend only earns 0.25% cash back. Spending above $3000 continues to earn 1%.

Additionally, there are some changes to the terms for those who do not pay in full. Thanks to reader Robert for alerting us to these changes.

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Significant Discover Card Changes Coming