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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