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I have had good experiences with Capital One in general, and the Sony Card seems like a good card. The zero percent into interest rate is an eye catching feature and the regular interest rate of 13.9 to 24.9 is decent. I have seen higher on several cards, these rates seem to be an average rate. Pros: There is no annual fee with this card. This is an important feature. I always look for low annual fees, so no annual fee is fantastic and can save a lot of money in the long run. There is also no balance transfer fee or foreign transaction fee. Sony fans will appreciate that you get more points for buying Sony products. That makes sense seeing as though it is a Sony card. You also get 5,000 points for signing up. This makes it different from other cards, such as the Discover card, which it is otherwise similar to. Right now they are offering a $50 Sony store credit as well. You get the credit once you are approved and have made your first purchase. Cons: Some have said the customer service isn't great, but it is difficult to say one way or the other. Like with most places, it could also be a matter of who you are talking to at the time. If you are on the high end of the interest rate it can still be a little on the expensive side, but no more so than all the other cards out there. This card is directed more at Sony shoppers, or at least, encourages you to buy from Sony. If you don't want to the rewards program may not be something that you will be interested in. The card states that you need excellent credit to be approved and this seems to be the case. A few collection accounts may not hurt you, but you should have at least a 650 or higher credit score to apply. More About the Card: The cash advance rate is on the high side at 24.9 percent interest. You get a 25 day grace period, which is about average. So, while there is no annual fee it would be best to not be late in making any payments or get more cash advances than you have to. Between the $35 late fee and the higher rate of interest for cash advances the bill could add up. You can get up to 5X reward points, but most people probably won't take advantage of this. In order to get the 5X rewards you need to spend $2000 on Sony products at the Sony store. Most purchases will give out 1X the points. An exception is for those that dine out frequently. You can get 3X reward points when you dine out four times. The point system can be a little tricky, and again, it is aimed for Sony shopping. So if you don't plan to buy any Sony products, this may or may not be the card for you. It could come in handy for someone that wants to make a few electronic purchases and make on time payments to build credit, though. The no annual fee alone is enough to make it worth consideration, in my opinion. Also, the interest rate isn't too high, so it is worth taking a look at.
The Citi Double Cash Card offers a lot of great rewards. Some of the best include Price Rewind and Citi Private Pass. There are no caps or category restrictions. Cost: There is no annual free and a 12.99 to 22.99 percent APR that is subject to your credit rating. Even on the high end of 22.99% this is still not bad considering some of the other cards on the market. There is no over the limit fee. The max late fee is $35 and the max penalty APR is 29.99%. You can get cash advances at a rate of 25.24% APR with a cash advance fee of 5%. Benefits: There is a 23 day grace period. You can enjoy a late fee pass on your first late fee too. This is the only card that offers double cash back. You get 1% when you make your purchase and another 1% as you pay for the item. Citi also offers the Citi Private Pass that allows you to purchase tickets to concerts, VIP passes, live shows, and other entertainment. You have access to presale tickets as well. One of the best features is the Price Rewind that will search for a lower price on your purchases for up to 60 days. If a lower price is found you are refunded the difference up to $300. If you've lost your card Citi will replace it, usually within 24 hours, via the Lost Wallet Service. In addition, they provide you with emergency cash subject to your available cash advance limit. The Trip Cancellation and Interruption Protection ensures that if things get in the way of your trip, you may be reimbursed for non–refundable trip expenses, like change fees, up to $1,500 per year. Other features include worldwide car rental insurance, concierge service, identity theft protection, and an extended warranty. If for some reason you need to call, you get to speak to a person instantly without having to wait. Other Pros and Cons: The card is lightweight and flexible. It is accepted nearly anywhere and uses a chip (which means you insert it rather than swipe it). On the con side, some of the online features may be a bit on the slow side or difficult to use. Also, the rewards will expire if you don't use your card for a year. You may redeem rewards once you have a minimum of $25. You can redeem cash back for checks, statement credits or gift cards. The competition: In comparison to the Capital One Quicksilver the extra .5% cash back rate is better than Capital One's 1.5% cash back rate. Capital One offers a $100 signing bonus that the Citi card does not offer. Which card is actually better would depend on how long the card is being used and how it is being used. When compared to the Fidelity Investment Rewards card the two cards are almost equal. Both offer 2% cash back and neither have a signing bonus. The Citi Double Cash card, however, has less restrictions when using the card. Also, the Fidelity cards rewards run on the American Express network, which may not always be accepted at some locations. The Citi Double Cash card is a Mastercard which is accepted nearly everywhere.
The Capital One Venture Rewards card is perfect for traveler's. The card offers 2% rewards on all purchases which is a rare find in cards today. There is a very nice sign-up bonus for new accounts and plenty of traveler friendly rewards and perks. With low rates and no foreign transaction fee, the card is one of the best available for those on the go. Cost: This card is great if you travel a lot. New accounts have a $0 introductory annual fee for the entire first year which will save you a lot of money compared to cards that charge large fees. It also has 40,000 bonus miles. There is a $0 foreign transaction fee which can equal huge savings and is a great benefit of the card. There is also a $0 transfer fee. All of these things equal savings and are great in comparison to the competition that is out there. Cash advances are at a rate of 3% of the cash advance, which isn't very high. The purchase APR is 13.9%-20.9%. This isn't too bad considering many other cards can easily go up to 24% or more. Cash advances are at a rate of 24.9% variable APR which I think is about standard. The 25 day grace period on purchases is a big help should you find yourself low on money when the bill is due. I love that there is no over the credit limit fee, but there is a 29.4% variable APR penalty fee. This isn't isn't bad considering the competition. Benefits: There are unlimited 2X miles and 40,000 bonus miles for new accounts, but you have to spend $3000 on purchases in the first three months. This comes out to be about $400 in travel credit for free. You can stay at hotels and fly airlines anytime with no blackout dates. Many other cards limit you in this area and have blackout times and dates. Another of my favorite features is the 100% free credit tracker which allows for credit alerts and credit score viewing. The credit score checkers out now almost always charge a dollar. Even the "free" ones generally require a dollar to be on your card to verify it. The credit alerts are a big help and come in really handy for catching charges or things you may have otherwise missed. You can get complementary upgrades available at hotels, resorts, and spas with use of the Visa signature card and complementary concierge service is available 24 hours a day at home and when traveling. For me, even better is the 24 hour travel assistance and roadside service are handy in case of car problems or emergency situations and in the event of a stolen car. If you have AAA or something similar it can get expensive and this is an easy way to feel safe and secure while you travel without having to spend extra or worry that the account is good. There is also auto rental insurance coverage available. Generally, it is about $25 per day for this when you rent a car so this is another big savings. There is an extended warranty program at no additional cost and $0 fraud liability in case of a stolen card. There are no minimum spending requirements and no caps on rewards. A lot of other cards cap rewards. The "no hassle" miles are very easy to redeem and may be used for more expenses than most other travel cards on the market today. The miles also show up in your account instantly after making a purchase. I love that because I hate waiting for perks and miles and it lets you know you got it applied right away so there is no question. It comes in handy to enjoy help by way of suggestions on which travel services miles may be exchanged for. This saves you the hassle of trying to figure it out yourself. You could easily miss something doing it yourself. In addition to all this, the miles never expire as long as the account is still active. The most attractive feature to many, the no foreign transaction fee feature, would equal $60 in savings if spending $2000 in travel expenses. The competition: The Barclaycard Arrival Plus MasterCard comes close in features and a high reward rate. For example, it pays 2 miles per $1, but it has a bigger cost with an annual fee. As far as acceptance rates the Discover Escape card has lower acceptance fees.
I agree. The annual fee would keep me from signing up as well. The interest rate is insane. I personally am not a fan of secured cards in general. You are basically paying someone to use your own money, but I understand that people need to build credit. I think it is sad to take advantage of those trying to repair or build credit with very large interest rates and fees while requiring them to put the money up to begin with.