American Express prides itself on its premium level of service and its high end credit and charge card products. Likewise, the Mercedes-Benz brand has been synonymous with luxury cars for over 100 years. Therefore, few were surprised with the two companies announced that they would be offering a pair of co-branded credit card offers. Mercedes-Benz and American Express are offering both a credit card and a Platinum charge card for current and future owners of these luxury cars.

The Mercedes-Benz credit card from American Express offers cardholders Membership Rewards points, just like many other American Express products. Cardholders will receive five points per dollar spent at Mercedes-Benz dealers, three points per dollar on gas purchases, and two points per dollar at restaurants. One point is earned for each dollar charged at all other merchants. In addition, cardholders will receive several exclusive Mercedes-Benz benefits such as a $500 certificate towards the purchase or lease of a new Mercedes-Benz, 1,000 excess miles waived at lease-end, and a $50 certificate each year towards the purchase of accessories. Cardholder will receive a 0% APR on purchases for six months, followed by a standard APR equal to the Prime Rate plus 11.99%. There is a $95 annual fee for this card and a 2.7% foreign transaction fee. (more…)

Virgin America represents the long anticipated arrival in the United States of Richard Branson’s signature airline franchise. So far, they have focused on providing transcontinental flights with their unique style and service. Virgin America offers a Visa airline credit card from Barclays Bank that allows card members to earn points towards free flights in their frequent flier program called Elevate.

Rewards: For each dollar spent with this card, customers will earn a single point in the Elevate program. Triple points are earned for purchases from Virgin America. In addition, cardmembers can earn another 300 points for every $5,000 in purchases, with a limit of 1,200 bonus points each year. Cardmembers will also receive a 0% introductory financing period on balance transfers for the first six months of their account, although there is 4% balance transfer fee. After that, card holders will incur interest at the standard rate which is equal to the Prime Rate plus either 12.74% or 21.74%, depending on the applicant’s credit history. Surprisingly this is a no annual fee credit card, but there is a foreign transaction fee of 3% on all charges processed outside of the United States. (more…)

Along with retirement accounts, most Americans count their home mortgage as one of their most important vehicles for saving. The American Dream is not just home ownership, but actually paying off a mortgage and owning a home outright. Wells Fargo bank offers its Home Rebate Rewards Visa card, not just to earn cash back or to take a vacation, but to get customers one step closer complete home ownership.

Home rebate users  earn 1% rebates that are applied to the principal balance of eligible Wells Fargo mortgage loans. These rebates are applied in $25 increments, each time a cardholder spends $2,500, but there is no limit on the number of rebates that can be received.

This card also offers a 0% introductory financing offer on both purchases and balance transfers for six months.

Other Features

The best credit cards in the rewards category return cash back or loyalty points that cardholders treat as a bonus and add to their discretionary spending. By diverting these rewards to a mortgage account, cardholders undertake a strategy of automatic savings that will pay dividends in the long run. By reducing their principal each year, they will pay less interest on their loan than they otherwise would have and expedite the process of finishing off mortgage balances. (more…)