American Dream Credit Card

The American Dream credit card is a unique card that is only offered to people with good credit rating.
 

   
Its main feature is a very interesting rewards program, the American DreamCard Sweepstakes, which is exclusively available to American Dream credit card holders. The American Dream credit card allows a cardholder to earn entries for the sweepstakes raffle with every purchase made on the card. Every $1 spent (for purchases, balance transfers, cash advances, convenience checks) is equivalent to 1 entry. Applying for the American Dream credit card online, over the phone, or by mail instantly also gives a cardholder 1,000 bonus sweepstakes entries. Even referring a friend to the American Dream credit card gives 50 more entries. When the referred applicant is approved, additional 1,000 sweepstakes entries are given. An extra 100 entries are given when the cardholder enrolls in American Dream’s online account service. Plus, every time bills for the card are paid online, the cardholder gets to receive another 100 entries. Winners of the American DreamCard Sweepstakes are drawn every month and 12 cardholders win the jackpot price.

The American Dream credit card is issued by HSBC Bank Nevada and features the following interest rates. For purchases, the APR is a variable 14.99% or 21.99, depending on the creditworthiness of the cardholder. For balance transfers and cash advances, the APR is a variable 22.99% or 28.99%. However, when the American Dream credit card holder fails to pay on time, a penalty APR of 27.24% or 28.99% will be imposed on all purchases, balance transfers, and cash advances. A cardholder who pays his/her bills in full and on time is given a grace period of at least 23 days for the next month.

Other fees for the American Dream credit card include a minimum interest charge of $1 for every billing cycle, an annual fee of $0, $39, or $59 (based on the cardholder’s creditworthiness), and a foreign transaction fee of 3% of the amount in US dollars. For balance transfers and credit card convenience checks, at least $15 or 4% of the amount is taken as transaction fee. The cash express feature, on the other hand, takes $29 per transaction. When the American Dream credit card is used for cash advances, a $5 (for cash advances amounting to $100 or below) fee is imposed. Otherwise, the transaction fee is $15 or 4% of the amount of each transaction. Penalty fees for the American Dream credit card include a late payment fee and over-the-limit fee of $39.

The American Dream credit card is offered by MasterCard, which makes it accepted at over 20 million stores and ATMs worldwide.


  

Source: Credit Cards For People With Bad Credit Rating


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