Question
I heard a gal talking at the Hilton at Disneyworld about a new Mastercard that gains you air miles & has no annual fee. But didn't catch who's card it is, so does anyone have one?
What are the stipulations since free cards always have too many if, and & buts to them.
Answer
My guess is that (1) it's a home-grown points card, (2) it gets 1 mile to $2 spent, or (3) the no-annual-fee is an intro promo. Anything else and I think someone would have posted the details.
Answer
My guess is that (1) it's a home-grown points card, (2) it gets 1 mile to $2 spent, or (3) the no-annual-fee is an intro promo. Anything else and I think someone would have posted the details.
While I think that your guess #1 is the most likely winner in this particular case, there is a card (A MasterCard at that) that has no annual fee (not just as a first-year promo) and earns 1 mile per $ spent, albeit in a somewhat indirect way, and it has been widely discussed on FT. I am talking about the Amtrak MasterCard from MBNA (http://www.amtrakguestrewards.com/index.cfm?category=earn&loc=creditcardstandardearningdetail.html).
Amtrak points can be exchanged 1:1 in 5,000 points increments for United, Continental, or Midwest Miles. The limitation is that you can not exchange more than 25,000 points from the Amtrak program in one calendar year (double that amount if you are an Amtrak Guest Rewards Select member).
Answer
Found it thanks to Eugene giving me MBNA as a clue. It has annual fee, restriction of 7500 miles per month (but I haven't spent more than that). But the air rewards is steep:
Introductory APR is effective upon the opening of your account and is not applicable to Bank and ATM Cash Advances. When your minimum monthly payment is late (i.e., not received by 2 p.m., ET, on its Payment Due Date), or when the Introductory APR expires, the non-introductory APR is applied to new and outstanding balances (consisting of Balance Transfers and Cash Advance Checks). If your payment is late, the non-introductory APR is applied to those balances as of the first day of the billing cycle in which the payment was late or not received. The non-introductory APRs for your account may change. MBNA allocates your payments to balances (including new transactions) with lower APRs before balances with higher APRs.
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§ This is a partial description of the Elite Rewards Program ("Program"). Cash advances, balance transfers, finance charges, purchases of money orders or other cash equivalents and unauthorized or fraudulent transactions do not earn Points. Elite Rewards Points may be exchanged for air tickets or for Certificates/Cards which may be redeemed for other rewards, including hotel accommodations and auto rentals. Participating merchants and individual locations are subject to change. Maximum earnings: 7,500 Points per month. Significant restrictions apply to air travel rewards, including 21-day advance booking, no layovers more than 4 hours are permitted, and Saturday night stay is required. Tickets are non-refundable, nonexchangeable, coach or first class. Maximum ticket value is calculated based upon 2.5% of the redemption level. Elite Rewards Points expire 4 years from the end of the quarter in which they are earned. Certificate/Card expiration dates vary by independent retailer. Elite Rewards Points and Certificates/Cards have no cash value under any circumstances and may not be used to pay your credit card balance. Taxes are the responsibility of individual Program participants. The terms of the Program may change at any time. Other restrictions apply. The Guide to Rewards will arrive within 30 days of opening account. The Program is void where prohibited by law. The Program (other than the credit card) is administered by Trilegiant Loyalty Solutions, Inc. Travel agency services are provided by Cendant Travel, Inc.
§§ Receive 500 Bonus Points in addition to regular Points earned when making an initial retail purchase with this card. Bonus Points count toward the monthly Point limit. This promotion is limited to new Customers opening an account in response to this offer.
THE REWARDS
Airline Travel
25,000 pts - Anywhere within your zone§§§
30,000 pts - Anywhere within the Continental U.S.
35,000 pts - From 48 contiguous states to Mexico, Caribbean or Canada
40,000 pts - From 48 contiguous states to Hawaii or Alaska
45,000 pts - From Hawaii/Alaska to Mexico, Caribbean or Canada
50,000 pts - From 48 contiguous states to Europe
60,000 pts - From 50 states to Central/South America
75,000 pts - From Hawaii/Alaska to Europe
75,000 pts - From 50 states to South Pacific/Asia
80,000 pts - From 50 states to Africa/Middle East
85,000 pts - From 50 states to Australia/New Zealand
150,000 pts - Ticket to anywhere around the world from the U.S.!
§§§Travel must be wholly within Zone 1 or within Zone 2 or within Zone 3. Crossover to another zone is not permitted.
ZONE 1 - (Western U.S.) AZ, CA, CO, ID, MT, ND, NM, NV, OR, SD, UT, WA, WY
ZONE 2 - (Middle U.S.) AL, AR, IA, IL, IN, KS, KY, LA, MI, MN, MO, MS, NE, OH, OK, TX, WI
ZONE 3 - (Eastern U.S.) CT, DE, FL, GA, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, TN, VA, VT, WV
REMEMBER! First class tickets also available.
Hotel Stays
7,500 pts - One night at Ramada®, Days Inn®, Villager®, Howard Johnson®, Wingate Inn®, Travelodge®, and Knights Inn®
REMEMBER! You earn double points when you use this credit card at these participating merchants..
Retail and Dining Rewards
3,250 pts - $25 Gift Certificate
§§§§Earn Bonus Rewards at These Earning Partners
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Avis®
beoutdoors.com®
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Knights Inn®
Omaha Steaks®
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sharperimage.com®
Travelodge®
Villager®
WatchZone.com®
Wingate Inn®
Car Rental
7,500 pts - 1 Day Avis® Car Rental