Blue Sky from American Express: A low APR, No Annual Fee Rewards Credit Card?

We have listed the best reward credit cards available from approved providers. Here you can browse the details of the chosen card and decide wether you are interested in applying for the credit card. A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it's wise to compare terms and fees before you agree to open a credit or charge card account.

Blue Sky from American Express: A low APR, No Annual Fee Rewards Credit Card?

Over the past two years, I’ve seen airline and travel rewards credit cards come and go. With the exception of a few cards, most charged high interest rates and absurd annual fees that offset any “rewards” that might be earned. On top of that, many required spending of $35.000 just to get a “reward”. It was not the best of times for consumers.

Things have changed with the recent introduction of the Blue Sky credit card from American Express. The Blue Sky credit card is by and far the best travel reward credit card to hit the market in years. It not only offers great savings, but the highest rewards percentage of any card.

The Savings: Given that most travel rewards cards charge annual fees of $50-$85, you immediately save a minimum of $50 by using Blue Sky. That’s no small change. Additionally, the low APR is currently 12.24% (as of 1/17/06), about three to four percent less than other travel and airline credit cards, which generally charge 14% to 17%.

Additionally, Blue Sky also offers a 0% introductory APR on purchases for up to 6 months. These factors make the Blue Sky from American Express an incredible value for a rewards credit card.

The Rewards: Like other travel and airline reward cards, you earn 1 point for every dollar spent with Blue Sky. However, 1 point with Blue Sky is worth a lot more than 1 point with any other credit card. Here’s why: it only takes 7500 points to earn $100 towards any travel purchase. That’s the same as earning 1.33% in rewards on every dollar spent.

In addition to this great rewards return percentage, Blue Sky from American Express gives you the freedom to save on any flight, hotel, rental car, or cruise-at any time, without blackout dates or travel restrictions.

Hopefully, the introduction Blue Sky will convince other issuers to follow a new trend and the market will see more low apr, no annual fee travel rewards credit cards. Currently, no other company has stepped up to the plate.

Jeff Weber is the President & CEO of Credit Card Depot Inc. His primary website, Credit Card Depot, features detailed credit card application information and links that has helped over 10,000 consumers find new credit card over the past two years. You can find over 80 current credit card applications, including theBlue Sky from American Express and otherAmerican Express credit cards, at

http://www.credit-card-depot.com.

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Reward credit cards, or loyalty cards, operate in a similar way to charity cards except that the main recipient of any benefits is the credit cardholder. Incentives may include cash bonuses, points, discounts and Air Miles. With this type of credit card it is important that you think logically about the rewards being offered, and work out exactly how much you will need to spend on your credit card in order to reap the benefits.