by Cecil Dellison

Credit card reward points can earn you anything from free airline tickets and hotel stays, to gift cards and electronics. But have you ever heard of one that will help you pay your bills?

Wells Fargo does that with the Home Rebate Credit Card. The Visa backed credit card is designed to help people pay down their mortgage with reward points. So every time you use your card for groceries, gas or new clothes – you invest a little more in your home.

How it Works:

Instead of collecting points to get a free trip or cash back, card members collect rewards to pay down the principal on their home mortgage. Every purchase you make, whether it’s for clothes or school supplies, your cell phone bill or a night out – you will be slowly paying down what is likely your biggest debt.

What’s nice about the Wells Fargo Home Rebate Credit Card, is that rebates are automatically transferred as payments towards your mortgage principal. Every time you earn a $25 cash back reward, it automatically applies that reward towards paying down your principal. Sure, it will take a lot longer to see the impact than saving up points for a new iPod. But, your home is an investment and every little bit helps.

The Rewards:

Wells Fargo has a special offer to give new card members 3% back on gas, groceries and drugstore purchases for the first six months. That can add up quickly! If you spend

$2,500 a month on your card, you will earn $75 a month in rebates. Over six months, that’s $450 that will come off your mortgage principal.

After the first six months, the Home Rebate card offers 1% cash back on all purchases. That will bring you a $25 rebate for every $2,500 you put on the card. While it may sound like something only high rollers do, consider this.

You can pay most of your bills with your credit card to earn more rewards. Think beyond gas and groceries. Think about your utility and cell phone payments, the guy who does your lawn each week, and your daycare. Even magazines and web subscriptions can also earn you rewards. You just have to look around, you’d be surprised by how many places take Visa cards.

Calculate Your Rebate:

Over time, reducing your mortgage principal means you will pay less in interest and may even be able to pay off your mortgage in less time. It’s easy to determine how much you would save based on your current spending habits thanks to this calculator.

Simply type in your estimated mortgage, interest rate and how much you would put on your credit card each month. Ignore the prompts about applying for a loan and just hit the “Calculate” button. It will show you how much you will save in principal and interest rates, as well as how much sooner you can pay off your mortgage.

Wells Fargo provides this example, showing you could pay off a 30 year mortgage in less than 29 years if you charged $2,500 a month to your Home Rebate Card.

$200,000 Mortgage

+ 6.25% Interest Rate

+  30 Years

- $298 Annual Rebate

_____________________

= $24,425 Total mortgage reduction including rebate, principal and adjusted interest

The Terms:

A bonus to the Home Rebate card is that there is no annual fee. However, you will pay a minimum $5 fee for each balance transfer, a minimum $10 fee on cash advances, and up to $35 for late payments. That is pretty standard for rewards cards.

A huge factor people don’t always consider, is the interest rate on the card. With the Wells Fargo Visa Home Rebate Card, new cardholders get 0% Annual Percentage Rate on new purchases and balance transfers for a full year.  That’s a big incentive to switch.

After the first year, the card is like most others, carrying an interest rate of 11.15% – 25.99%  variable APR based on the Prime Rate. Cash advances start at 23.99% and are based on your credit worthiness.

Who is Eligible:

The Visa Home Rebate Credit Card is offered as an incentive for new Wells Fargo loan applicants, as well as people who currently have Wells Fargo home mortgages. If your loan is through Citibank or another lender you are out of luck. Also, the credit card can not be used with many other Wells Fargo loans like commercial mortgages, HUD second mortgages and reverse mortgages. 

Extra Features:

Since  the Home Rebate card is tied to Wells Fargo and Visa, it comes with extra features for free. Card members can use it with the Visa payWave, which lets you check out faster at the register by just waving your card in front of a special checkout reader. No swiping and no signing.

Card members can also get Wells Fargo Cell Phone Protection when they pay their monthly cell phone bill with their Home Rebate card. If your phone is stolen or damaged you can get up to $600 to replace the phone with just a $25 deductible.

Wells Fargo also provides Rapid Alerts to your phone if there is suspicious activity on your card and Zero Liability if someone uses your card without authorization. Since the Home Rebate card is backed by Visa, you will also get auto rental collision damage waiver, roadside dispatch and travel assistance.

Important Note:

Like any legal document, you have to read the fine print to see that if you default on your loan or go into bankruptcy you may be disqualified from the rebate program and forfeit your accumulated rebate.  That’s also the case if the bank sells your loan, so make sure you read the Terms and Conditions carefully.

A Solid History:

You may have never heard about the Home Rebate card, but it’s not new. Wells Fargo actually introduced the card back in 2007. Back then, the housing market was starting to nosedive and the bank used it as a way for new mortgage applicants to pay down their loan just a little more each month.

Fast forward six years and the America is on the other side of the bubble. The housing market is starting to recover and more Americans are focused on paying down debt.  If the card catches on, it would certainly boost the bottom line for Wells Fargo. The bank claims to issue about 30% of all home loans in the U.S., just imagine if every one of them were also making payments on a Wells Fargo credit card.

by Cecil Dellison

Credit card rewards points are a great way to earn free travel, electronics and gift cards. But for most people, it takes too long to accumulate points.

A new credit card is guaranteed to be a game changer. It’s called the ePlate Credit Card from Dynamics Inc., which makes next-generation payment cards. ePlate lets you customize rewards packages, earn points faster and even qualify for multiply points instantly. Here’s why it will shake up the credit card industry:

1. Cardholders choose which rewards they want to work towards attaining. Choices include entertainment, travel, groceries, charity, artwork, signed memorabilia and even wild adventures. The best part is, you can earn points for two reward experiences at the same time!

2. ePlate partners with dozens of companies to offer these reward “experiences”. Most offer short-term and long-term rewards to keep you motivated. Since each company is trying to win your loyalty, they require fewer points to cash in rewards.

3. When you charge purchases to ePlate, you will also be entered into sweepstakes that  can increase your rewards points up to 19 times the current value. It’s like a free lottery ticket for more points!

Reward Experiences

There are dozens of experiences tied to ePlate Credit Cards so you can treat yourself, give to others or simply pay for everyday items.  You can also choose the CashPerks+ Experience to earn up to 1.25% on all purchases. As an incentive, once you redeem a  $50 cash back reward, you can win a random cash back bonus up to 19 times the reward – that’s an additional $950! All it takes is a single purchase to earn rewards:

Instant Rewards with First Purchase:

  • Free digital movie rental
  • Free credits for online video games
  • Free ebook from Bob Mayer, Warren Adler or Twin Sisters children’s books
  • Free Upper Deck UD Infinite digital trading card
  • Free digital page from a new comic book  or Hercules library

Adventure:

You only need to spend $2,500 to earn on-track driving lessons with Skip Barber Racing Experience, a $700 value. You can enter to win a free trip to the Bahamas with a Triton Submarine Adventure or get a $4,000 discount off the price of a Henry Cookson African Safari .

Original Artwork:

Earn points to get digital and printed artwork, like Michael P. Heslop’s legendary golf oil paintings and whimsical prints from Sheep Incognito. Card members can even select limited edition handcrafted baskets from the Longaberger Rewards Collection.

Everyday Items:

  • MovieTickets – Enter a movie caption game contest to win $10 movie ticket vouchers
  • Music – Earn a free album from Katie Armiger or songs from Kidz Bop
  • Perfume and cologne – Earn free scents and discounts
  • Coffee – Monthly shipments of gourmet coffee or tea
  • 1-800-Flowers – Spend $500 and earn $20 voucher for flowers, a 4% reward

Give Back:

Use your rewards to give back, by donating to the World Vision USA which supports 10 worthy causes, Toys for Tots,  Amnesty International, or the Warrior Canine Connection which helps veterans with PTSD.

How it Works

Every cardholder picks two reward experiences to collect points. Whether that be a private jet flight or a charitable donation, you choose your experience online and start racking up points.

When you pull out the card for a purchase you get to decide at that moment which reward experience you want to divert the points. Simply press the green button or the blue button on the ePlate credit card to make your selection. The card even lights up to confirm your selection was accepted.

When you earn a digital rewards, like ebooks and music, they will be delivered within seconds. New rewards packages are added all the time, and you can change your rewards program anytime on your smartphone or computer.

ePlate Options

Cardholders have two options. The ePlateEZ card has no annual fee and provides access to all the reward experiences offered by Dynamics Inc.

The ePlate® card comes with a $99 yearly upgrade fee which lets you earn rewards twice as fast. Every reward experience can be obtained with half as many points, so it’s up to the consumer if they believe the rewards will make up for the added fee.

The cards are issued by UMB Bank based in Kansas City, Missouri and backed by VISA, so they will be accepted at millions of businesses worldwide.

The company is innovative and responsive. Get this, if you post your rewards on Facebook and Twitter, you can earn additional Dynamic credits and chances to win more free stuff.

Why ePlate is Different

This credit card is responsive to the cardholder at the time of purchase, giving the customer more control over their rewards. That means you won’t waste rewards points by putting them towards a package you can already redeem.

For example: Lets say you are at the mall, and your first purchase on the card to buy workout gear earned you enough points for a $50 gift card for Fresh Direct groceries. On your next purchase, at the shoe store, you can put your points towards a week with a personal trainer.

At the time of this writing, there were nearly 50 rewards packages to choose from. Check out these easy charts to track the most used and highest rated rewards programs, and find new programs.

Dynamics Inc. partners with many reward providers at once, providing short and long term goals for customers. Plus, the company prides itself on innovation. Jeff Mullen, CEO and Founder of Dynamics Incorporated and his team have won numerous awards since its formation in 2007.

Also Important

  • APR on purchases are from 13.99% to 17.99% and varies based on Prime Rate
  • APR on balance transfers made within first 60 days is 0% for the first year
  • But, there is a 3% fee for balance transfers with a $15 minimum
  • APR for cash advances is 24.99% and begin on the transaction date
  • And, there is a 3% fee for cash advances with a $15 minimum
  • Due date is 21 days after the close of each billing cycle
  • Late fees do not exceed $35
  • Replacing a lost or stolen card will cost $35

Dynamics calls the credit card a flexible computer platform. The card and the reward buttons are said to last three years on a single battery charge and are waterproof. With so many options and customer control, it sounds like a pretty smart card to us.

by Cecil Dellison

Do you enjoy getting free airline flights as a result of doing your everyday shopping? Then you need an airline credit card. Even if shopping is not your main hobby, but you fly regularly for business or pleasure, having a frequent flyer credit card could save you money.

Airline credit cards and frequent flyer credit cards offer you many great benefits across a host of airlines and merchants. Benefits include attractive introductory rates, double miles on purchases which can be redeemed at airlines, car rentals or restaurants and free airline tickets with access to a preferred check in facility.

To start earning just by shopping, visit our many online credit card offers below to view and apply for the best airline miles credit cards available.

Click Here to review and compare Airline & Frequent Flyer Credit Card offers

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