The Lowdown on the Chase PerfectCard

By: Eric Wasselman

It is common these days for credit cards to introduce all kinds of perks, benefits and rewards with the sole aim of attracting consumers. Not surprisingly, there are also cards which provide rebates for gasoline purchases. However, most of these cards are limited to one brand or one region. Chase Manhattan has addressed this issue with the Chase PerfectCard Platinum MasterCard.

Unlike other cards, the Chase PerfectCard can be used for gasoline purchases anywhere and rewards cardholders a 3% rebate for it. For the first 90 days, cardholders can also expect to earn a 6% rebate on gasoline. All other purchases are eligible for a 1% rebate.

The card does have its limits though as the amount of rebates that can be earned on gas purchases are capped at $15 a month. Nevertheless, there is no limit to the amount of rebates that can be earned on other purchases. Furthermore, the rebates are credited directly to the balance on the card without the need for the cardholder to advise the credit card company. What's more, all of these services comes with no annual fee.

For those who qualify, the Chase PerfectCard has a reasonable interest rate charge for credit card charges and balance transfers. In addition, during the twelve-month long introductory period, no interest rates are charged on all outstanding balances. However, once the intro period is over cardholders are not recommended to carry a balance over to the following month as the finance charges will be calculated with the more expensive "Two Cycles Average Daily Balance" method.

Additionally, benefits which are typically present for many other cards are also present for the Chase PerfectCard. Cardholders can expect to receive benefits such as purchase protection, travel accident insurance of up to $500,000, auto rental insurance and various emergency or assistance services.

As a gas card, the Chase PerfectCard lives up to its name. While the $15 a month cap on gas rebates may not be too attractive, the limitless 1% rebate on general purchases with the hassle-free method claiming the benefit makes the card truly outstanding. Of course, this is as long as you pay off your balance in full each month.

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