Big news from Emigrant Direct Savings Bank… They’ve finally rolled out their new cash back credit card. This card, which is issued by Juniper Bank, offers:
â€¢ Up to 1.25% cash back on all purchases
â€¢ Rewards are credited directly to your American Dream Savings Account (twice annually)
â€¢ No limit to the amount of cash back that you can earn
â€¢ 0% APR on balance transfers for six months
There is, however, a pretty big catch… In order to receive the maximum cash back amount, the primary cardholder has to maintain an average daily balance of ? $10k in their Emigrant Direct savings account over the six months prior to the reward being deposited. Dip below $10k and your rewards will fall back to 0.50% of net purchases. Ouch. That’s a pretty big hit.
[Via: Neo’s Nest Egg]