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Summary - The Chase Home Improvement Rewards(SM) Card is the only credit card in the market that allows you to earn three points for every dollar you spend at home improvement stores. These points can then be exchanged for either gift certificates or cash rebates. There is no other such cards in the market today. Those who are embarking on a lengthy home improvement project should take a look at this card. Let's explore this card in further detail.....
Reward Formula - The Chase Home Improvement Rewards(SM) card allows you to earn 3 points for every dollar spent at Home Improvement stores. "Home Improvement" purchases are those purchases made at retail establishments classified by the retailer to Visa and MasterCard as being a home supply warehouse store; a lumber/building supply store; a glass/paint/wallpaper store; or a hardware store. You will earn 1 point for every dollar you spend on other purchases. New cardholders will get a Zircon iLine Laser Level worth $39.95 for free after your first purchase.
3 Ways to Redeem Points - Cardholders have three choices of redeeming their points. Once you have earned 2,500 points, you can exchange them for either a $25 Gift Card or Gift Certificate, or a $25 check.
Other Benefits - Cardholders can participate in sweepstakes. You also get hints and tips in every statement, as well as an exclusive e-newsletter from the editors of The Family Handyman magazine.
Fees - The Chase Home Improvement Rewards(SM) Card has no annual fee. New cardholders get a 0% apr introductory offer for both purchases and balance transfers for 12 billing cycles. The apr is prime rate plus 5.99%, 9.99% or 14.99%. The 2-cycle average daily balance method for computing balances (including new purchases) is used to calculate monthly balance.
Verdict - The Chase Home Improvement Rewards(SM) Card will appeal to those who intends to spend a fair amount of time and money on their home improvement projects for the foreseeable future. Using this card will help you save on your future home improvement hardware purchases.
In fact, this is the only card of this sort available in the market today. The only other comparable card is the Home Depot credit card. But that card only allows you to make purchases at Home Depot.
Positives
Earn 3 points for every dollar spent at home improvement stores No annual fee 0% apr on both purchases and balance transfers for 12 billing cycles
| Chase Home Improvements Rewards(SM) Card | | Reward Formula | | Reward Formula | Earn 3 points for every dollar spent at home improvement stores
Earn 1 mile for every dollar spent on other purchase | | Other Benefits | Online Account Access
Online account statements
Chase Bill Management Center
Credit Line increases | | Cost/Fees/Interest rates | | Introductory rate | 0% introductory APR on balance transfers and purchases for first 12 billing cycles | | Annual Fees | No annual fee | | Purchase APR | Prime Rate plus 5.99%, 9.99% or 14.99% | | Balance Transfer APR | Prime Rate plus 5.99%, 9.99% or 14.99% | | Cash Advance APR | Prime Rate plus 15.99% | | Penalty/Default Rate APR | Prime Rate plus 23.99% | | Min Finance Charge | $1.00 | | Grace Period | 20 days | | Balance Calculation Method | Average daily balance method (including new purchases) | | Balance Transfer Fee | 3%, min $5.00 max $75.00 | | Cash Advance fee | 3% min $10.00 | | Over-the-credit-limit fee | $39.00 | | Late Payment fee | $15.00 - up to but not including $250.00
$39.00 - $250.00 and above |
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