Credit Card Offer:Shop Around

Greg Bush and James Colpean

Miles by Discover Card

• Terms and Conditions:– Up to 5% added to APR every time late payment

made– If account is closed/inactive for 18 months, all

travel rewards lost– No grace period on balance transfers

Travel your way

Miles by Discover Card

• Rewards:– 12,000 Bonus Miles (12,000 is the cap)– Double Miles on first $3,000 for travel (2 miles per

$) and 1 mile per dollar past $3000– Unrestricted travel through any airline, travel

agent, or travel website

Miles by Discover Card

• Fees– $10 of 5% on cash advance (whichever amount is

greater)– $35 Return Fee– $35 Late Payment Fee– No Annual Fee

Gold Delta Skymiles

• Terms and Conditions:– If there are additional “cardmembers” sharing

your account, you are responsible for paying their charges

– Limit of $25,000 balance transfer in 180 days. Transfer may take up to 6 weeks.

– Return Protection does not provide refunds for shipping and handling

Extended warrantee on card purchases.

Gold Delta Skymiles

• Rewards:– 30,000 miles if $500 spent in first 3 months; 2

miles every Delta Purchase, 1 mile for all others– First bag checked free for up to 9 people– 20% off in-flight savings (meals, drinks, movies)

Gold Delta Skymiles

• Fees:– $35 Late Fee– $35 Return Payment Fee– $95 Annual Fee (after first year)

Capital One Venture Card

• Terms and Conditions:– Annual income > rent and mortgage payments– Minimum credit line of $5,000– If balance is less than $25, the minimum payment

is the balance amount.

Get your feet there faster with double miles.

Capital One Venture Card

• Rewards:– 10,000 bonus miles if $1,000 spent in first 3

months (no cap and miles don’t expire)– Miles can be redeemed for cash, gift cards, other

purchases, etc.– 2 miles earned on every dollar

Capital One Venture Card

• Fees:– $59 annual fee (after first year)– Cash advance fee of 3% (minimum $10)– Copies of statements: $3.00– $35 Late payment fee– $35 Returned payment fee

Let’s CompareMiles from Discover Gold Delta Skymiles from

American ExpressVenture from Capital One

APR 20.99%$1000 x .2099 = $209.99

19.24%$1000 x .1924 = $192.4

20.9%$1000 x .209 = $209

Late Fee $35 $35 $35

Return PaymentFee

$35 $35 $35

Bonus Cash $0 $0 $0

Annual Fee $0 $95 $59Penalty APR 24.99%

$1000 x .2499 = $249.927.24%$1000 x .2724 = $272.4

29.4%$1000 x .294 = $294

Total APR: $279.99P.APR: $319.90

APR: $357P.APR: $437.40

APR: $338.00P.APR: $423.00

*Note: maximum APR was used in calculations

The Verdict

• Miles by Discover– No annual fee makes it lowest cost card, even with

slightly higher APR– Has lowest Penalty APR– Only card with unrestricted options for travel.