AOL Amex
The AOL American Express card has a few very interesting traits that may make this a better card than some of your other options out there. First of all the AOL American Express credit card is one of only a few cards still offering introductory rates. With this credit card you will be able to take advantage of zero percent interest on balance transfers and purchases. You also have a point system that will earn you air, rental car, and hotel discounts.
The balance transfer introductory rate will last for twelve months. This is a fairly long duration compared to some cards on the market at the moment. It is also one of the only offers you may find for balance transfers. When you have zero percent on balance transfers, that doesn’t include purchases. Any purchases that you make on the card will be charged a different interest rate.
On the AOL American Express you have zero percent interest for three months on purchases. If you make purchases, know that any interest and fees will be charged before the purchases will be paid off. Usually on this type of card the balance transfers are the last to be paid off.
The standard interest rate on balance transfers and purchases after the introductory period is over will be 16.9 percent. This annual percentage rate is one of the lower interest rates currently on the market, but not the lowest. This interest rate is usually offered as the standard variable rate, which means you could find the offer interest rate increased depending on your situation. American Express reserves the right to charge an interest rate that is comparable to the risk you pose.
As we mentioned above in this review you also have rewards with the AOL American Express credit card. For every pound you spend on purchases you can earn a point towards certain items. The first time you use the card you will receive 1600 points for the purchase. The points are earned on most purchases, but not all. This means that certain things may not apply for earning points. Most of the time these points are earned with travel, groceries, clothing, or other supplies that you use on a regular basis.
Overall the AOL American Express card has a few potential options that outweigh the bad. First you have the introductory period that can be used to help you lower debt. Other cards simply aren’t offering introductory periods, and especially other American Express cards. There is also the rewards programme and the lower interest rate than some cards on the market. Depending on how you would use the card you could benefit from having this one in your wallet.
If you are using it to decrease debt, then you wouldn’t want to take advantage of the purchase options that you have for rewards and the first few months. The interest rate is also only a concern if you don’t pay the balance off in full by the time the introductory period is over.
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