Blue from American Express®

• Fee-Free Rewards Program
• 0% APR for up to 15 months
• No annual fee
• Low Balance Transfer APR - 4.99% Fixed APR for the life of the balance.
• Blue is your launch pad to standout shopping and entertainment rewards and one-of-a-kind experiences.

Just The Facts -

Issuer :  American Express

APR :  An introductory 0.0% is offered (provided that you have excellent credit) otherwise it is higher

Introductory Period : 15 months

APR After Introductory Period : If you miss a payment on any of your bills or if anything negative is reported on your credit report it skyrockets to 12.24% variable rate.

APR On Purchases : 12.24% Variable

APR On Cash Advances : 23.24% Variable

Annual Fee : $0

Credit Line Possible : The card has no pre-set spending limit; however, purchases are approved based on an evaluation of your credit record, account history, and personal resources.  The minimum limit approved is $1,000. The maximum limit is 100,000.

Insurance included :  Auto rental insurance, a purchase protection plan, and up to $100,000 in travel accident insurance.

Financing Configuration : Interest is calculated on your average daily balance (including purchases made on that day).

Grace Period : You have twenty days after making a purchase during which you do not have to pay interest.

The Best Thing About It :  Transfer balances from your higher-rate MasterCard, Discover, and Visa cards to your Blue From American Express account with no transaction fee! Then enjoy the low APR : Fixed rate of 3.99% for life of balance (until the balance is completely paid off), on Balance Transfer requests submitted with this application. You can pay for your purchases in full or pay over time and there is no annual fee.

The Worst Thing About It : Not all applicants may qualify for the lowest rate offered - the interest rate is dependent on a credit check and the variable APR rate for cash advances is unusually high.

Credit Rating Needed For Acceptance :  Excellent

Who Is It For?

Blue from American Express® is an ideal credit card for those with good credit who already have an established credit history and are looking for a card with access to a reputable reward program.

The card is only suitable for residents of the United States. It is not available to residents of Puerto Rico.

The Benefits

The rewards program is one of the best in the business. Blue's Fee-Free Rewards program offers you access to their rewards program for no additional fee. When Enroll in Blue's Fee-Free Rewards Program and start earning points toward incredible rewards from the places you love to shop. Once enrolled, you can earn one point for virtually every dollar you charge with Blue. Points can quickly add up and may be redeemed for great entertainment, retail, and travel rewards,

Pay without swiping your card! This high tech card has a Built-in ExpressPay feature that lets cardholders make purchases without having to swipe their card. There's no slip to sign and you'll still get a receipt if you'd like. Already used at thousands of locations nationwide, ExpressPay gives you an easy way to pay for all the little things you buy every day.

Track all of your expenses on one statement.  Online access to this statement to your Blue From American Express account is also provided so you can stay on budget.

There is no limit to the rewards program. This is a rewards program that just gives and gives-There is no limit to the amount of points that can be earned, and points can be redeemed for travel, entertainment, shopping, and more.

No annual fee is charged. Blue From American Express is an annual fee-free card.

You manage your account online. Blue From American Express comes with an online account that provides the convenience of paying your credit card bill online.

Monitor your expenses.  You are also able to monitor what goes on in your account with full access to an online account report.

Taxes are made easier with the printable Year End Summary. The Online Year-End Summary of Charges gives you access to important information 24 hours a day, seven days a week. You can download the Summary and print it out; sort charges by date, merchant name, or charge amount; review charges made within a category, such as Travel and Restaurant.

Duplicate Blue From American Express cards are complimentary. Duplicate cards for family members are free and you can earn 1% towards your savings every time they are used as well.

You have a Return Protection Plan. If you try to return a designated item within 90 days from the date of purchase and the merchant won't take it back, American Express will refund the full purchase price, up to $300 per item.

You have extra protection from theft or loss of your card while traveling.  American Express provides quick emergency cash and emergency card replacement should your Blue From American Express card be stolen.

Fantastic travel insurance. Blue From American Express offers $100,000 in travel insurance.

The card comes with a Global Assist Hotline. Whenever you travel more than 100 miles from home, you are protected with medical, legal, financial or other emergency assistance, including medical and legal referrals, visa/passport help, cash access, lost luggage and more.

You are not held liable for unauthorized transactions that appear to be conducted on the Internet.  This means that you don't have to pay the typical $50 fraud liability fee.

The Drawbacks

The introductory rate of 4.99% ONLY applies if you plan to transfer a balance from another credit card. Otherwise the rate for the card is much higher.

The APR is variable! The APR for purchases varies according to the applicant's credit history and will be calculated on .99%, 5.99%, 8.99% or 10.99% + Prime Rate.

Cash Advances have an extraordinarily high APR depending on your credit rating. The APR for cash advances varies according to the applicant's credit history and the variable rate is an expensive 23.24 % variable rate!

Monthly payments are applied to purchases first.  The amounts that you pay monthly are not applied to the highest interest earning transactions such as taking out a cash advance. This can cause your debt on your Blue From American Express card to multiply.

The interest rate is not guaranteed. If you make a late payment on any bill, not just your credit card bill, your introductory 0% rate can be replaced with the prime rate.

The grace period is short. The grace period for Blue From American Express is only twenty days compared to the usual thirty days before you start paying interest on your purchases.

Rewards points will expire. If you have not used them after a three-year period your rewards points disappear.

You cannot earn the 1% cash back on related American Express products. Cash and cash equivalent transactions (including American Express® Travelers and Gift Cheques), finance charges, fee's returned goods or services and account adjustments do not earn a rebate.

The Return Coverage is limited. Coverage is limited to $300 per item, excluding shipping and handling, and up to a maximum of $1,000 annually per Card Account and is subject to additional Terms, Conditions and Exclusions.

Fees To Watch Out For

Late payment fee :  $15 on balances up to $100; $29 on balances of $100 through $1,000; $35 on balances over $1,000

Over the Limit Fee : $35

Cash Advance Fee : 3%, $5 minimum for Express Cash transactions

Balance transfer fee :  The balance transfer fee for the Blue From American Express is at the discretion of American Express and may only be disclosed at the time that the balance transfer is to take place.

To Summarize -

Blue From American Express has no annual fee and a reasonable interest rate for purchases (for those who qualify), which makes it ideal for those who plan to carry a balance. The card has a 0% introductory rate for up to 15 months of membership that can be applied towards purchases. A 4.99% introductory rate is available on balance transfers for the life of the loan. It is important to note that the balance transfer introductory rate only applies to those who initiate a transfer when applying for the card.