In the midst of the recession, some credit-card companies are trading in the old, carefree “life takes Visa” approach and rewarding more responsible credit use instead.
But… If you carry a balance, you’re likely to get more out of Blueprint than if you pay in full.
But… A missed payment might be reported to the credit bureaus or result in suspension. And the 16.99% interest rate (which kicks in after 21 months) is about two points higher than the average.
But… You have to maintain a balance (i.e. not pay your bill in full every month) to reap the 5% reward.
While features and rewards can be useful, remember that credit-card issuers are in a for-profit biz. “Regardless of how cool something might seem, or how altruistic it may come across, all those variables are meant to get you enamored with your card so much that you’ll use it in lieu of another card,” says John Ulzheimer, president of consumer education at SmartCredit.com.