Did you know…

• about the card with rotating 10% category bonuses?
• about the gas card with unlimited 3.75% cash back?
• that there’s another gas card that can earn you 12% back?
• which card has a $1,000 sign-up bonus and a $995 annual fee?
• that a store card can give you elite car rental status?
• which card offers 3% back on gas, groceries, restaurants, and discount stores?
• which business card offers 4% back on gas?
• that an obscure card offers a 7.5% uncapped category bonus?
• which card potentially offers 7.2% back on air, hotel, car rental, and restaurant purchases and will reimburse you up to $50 each for five lounge visits a year?
• which hotel chain has a credit card not issued by one of the big issuers?
• you can get 3% back on insurance payments?
• that there’s one credit card that offers 0% financing on any purchase of $600 or more?

They hardly ever get mentioned anywhere, but US Bank currently offers eight retail credit cards. That number used to be higher, but the Bed, Bath, and Beyond card is switching issuers, though I don’t think a new one has been announced yet.

As for the remaining cards, there is little of interest, though one does have nice rewards. We’ll start with that card first: [Read more…]

What the heck is Luxury Card?

Before I begin this review, we need to go over some basic facts. There are three new cards issued by Luxury Card, which supposedly is a “card platform”. That’s a fancy way of saying that the marketing department at Barclaycard is trying to create an upscale brand distinct from the rest of its operation. Why did they choose a generic name like “Luxury Card”? And why did they–already having one generic name for the operation–decide to give their three new cards generic names like Titanium, Black, and Gold? Were all the positive-but-meaningless names like “Optima” and “Ultima” and “Infiniti” already taken? Are they going to try to sue anybody else who issues a gold card?

Perhaps we’ll never know. But, that’s what they’re called.  Now then: these are marketed as upscale cards. Quick: what’s the first high-end credit card that comes to your mind? You said Amex Platinum, right? Well, Barclaycard wants you to say “Luxury Gold”. Let’s take a look at these and see if Barclaycard can change your thinking.

Barclaycard Titanium Card Review

Ranked from least expensive prestigious to most prestigious, the annual fees for the three cards are $195 for Titanium, $495 for Black, and $995 for Gold.  $495 puts you in Amex Platinum / Citi Prestige territory, and $995 puts you in rare air indeed.

With the Titanium card, you get a concierge for your $195 fee, and that’s pretty much it. No lounge access, no fee reimbursement, nothing. The benefits are so anemic that I wonder if this card exists only to make the other ones better. And that’s not a slam on the card; savvy marketers will sometimes do this intentionally to get people to buy something else.

Barclaycard Black Card Review / Barclaycard Gold Card Review

So let’s move on to the Black and Gold cards, which are indeed more interesting. You can get a $100 ($200 for Gold) airline fee reimbursement once per calendar year (as per the T&Cs), so that’s $200/$400 if you time it right. There’s a $100 Global Entry reimbursement once every five years. There’s a Lounge Club membership, and as Doctor of Credit points out, it’s an unlimited version, so you and your guests get in for free.

The rewards earning is different for the different cards too. All three cards can redeem points for air travel at a 2% valuation, but when it comes to statement credits, Titanium points are worth 1%, Black is 1.5% and Gold is 2%. Gift cards are always a 1% value, which from a business perspective seems a little odd–gift cards should be cheaper, dollar for dollar, than statement credits.

And then there are the luxury gifts. I don’t know what to expect from this:

Our way of saying, “Thanks for being a loyal Cardmember.” Throughout your membership receive Luxury Gifts from the world’s most iconic and recognized brand names.

My guess is that the luxury gifts will turn out to be disappointing, although it wouldn’t surprise me if they actually had something cool the first year to generate some buzz.

All three cards are made of metal, and the Gold card has actual gold. So, that’s kind of neat. They even filed a patent on their gold card manufacturing process, because Barclaycard Luxury Card will stop at nothing to bring you cutting-edge luxury.

Is this card worth getting?

The sign-up bonuses for the three cards are 10,000 / 25,000 / 50,000, which work out to statement credits of $100, $375, and $1,000, Only the last of those is enough to cover the annual fee, so apparently Barclaycard Luxury Card wants you to go ahead and get that Gold card. After the fee reimbursement (plus the smelting value of the precious metals, of course), you’ll actually come out ahead for the first year. The Lounge Club access, if you use it, would be a bonus. And hey, you’d have another 2% card in your arsenal for a year. I’m thinking about getting this one, mostly because the curiosity about the “luxury gifts” is killing me.

One final note: the T&Cs say the following:

In the event of any abusive, gaming, or fraudulent activity related to the Program, as determined by us in our sole discretion, we reserve the right to make corresponding Point adjustments to your Account and/or to cancel your Account at any time.

They’re specifically calling out gaming the system, folks. Or possibly high-stakes poker. Either way, you’ve been warned.

I got the Brooks Brothers credit card two years ago to see if it would offer the same sort of occasionally generous promotions that the Banana Republic / Gap / Old Navy credit cards frequently do. So far, it has not. They gave me a “make 5 purchase, get $20 in rewards” offer a few months after I joined, but that was the last one. Once a year cardmembers get s $20 gift card, which I happily take to Brooks Brothers to put toward a new shirt, but aside from that this card has been sock-drawered.

But at long last, the marketing machine has spring into action. Check this out:

$20 for five purchases! Ka-ching!

Okay, I know it’s only $20, but that’s $20 more of an offer than I’ve received the last two years, so I’ll take it.

Note that Citi acquired the Brooks Brothers card from Synchrony (aka GE Money) last year. Citi gave me a single promotion like this on the Best Buy card, and then never again, so I would guess this offer is a one-off and not the first of many to come.

Here’s a philosophical question to consider: how many offers like this per year would it take to get you to apply for a retail card? For example, suppose this card (or one for the retailer of your choice) offered a $20 gift card promotion like the one above four times a year. Would an annual stipend of $80 in gift certificates with no annual fee be enough to get you to pull the trigger on the card? For me, I think the answer would be yes. As always, YMMV.