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In addition to an award-winning ranking from JDPower.com, CNNMoney specifically recommends Clear from American Express as a card that you should use. Their main reason, you aren’t subject to any fees when you use this card.
Clear from American Express Overview
There are two great things about this credit card. First, it is a no fee card, as mentioned above and second, it is a rewards card. Now, you may be wondering just what a no fee card is.
In this case, a no fee card means that there are no fees for anything. You won’t pay an annual fee, you won’t pay over the limit fees, you won’t pay late fees, cash advance fees or balance transfer fees. No fees all of the time.
You may be wondering what the downside is to this no fee plan. Well, there are two downsides, or at least for some of you it will be a downside. First of all, you have to have darn near perfect credit to apply for this card, secondly, if you miss one payment, American Express will likely close your account.
Clear from American Express Rewards and Interest
The rewards structure for this card is simple. You will earn 1% cash back for any purchases you make. American Express will send you a $25 gift card each time you spend $2,500. The gift card is simply an American Express card, so it can be used anywhere.
This car is also a low interest credit card with an interest rate of 12.24%. The interest rate is variable based on prime plus 8.99%, so this amount may fluctuate monthly.
Clear from American Express Verdict
This is clearly (no pun intended), an excellent credit card choice. If you have excellent to perfect credit, then this card may be a very smart choice for you. If you don’t have exceptional credit, then you will need to look elsewhere for a credit card.
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