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The Chase BP Visa® Rewards Card was last reviewed on : 3rd January 2009
Summary - We have added the Chase BP Visaź Card to our Editor's Choice List because
You get 5% rebates on purchases at BP AmocoYou also get 2% rebates on dining and travel purchases (which is almost unheard of)All this for with no annual fee
Find out more about this great card.....
Rebate Formula - The Chase BP Visa® Card allows you to earn 5% rebates when you make purchases at BP Amoco stations. Furthermore, you will earn a 2% rebate on every $1.00 of net purchases made at retail establishments that classify their merchant location for Visa/MasterCard as Dining (excluding retail establishments classified as Fast Food Restaurants), Airline, Auto Rental, or Lodging and a 1% rebate on all other net purchases. You can earn unlimited rebates.
Introductory Offer - As an incentive, new cardholders can earn 10% Rebates on all participating BP location purchases, 4% Rebates on eligible travel and dining purchases and 2% Rebates on all other eligible purchases for the first 60 days.
3 Choices for Rebate Redemption - Every time you accumulate at least $25 in rebates, you decide how and when to redeem your reward. You can redeem for your choice of: a BP Gift Card, a check made payable to you or a donation to The Conservation Fund.
Annual Fee and APR - There is no annual fee. The APR is prime rate plus 8.99% or 15.99%. The uses the average daily balance method (including new purchases) to calculate monthly balances and finance charges.
Other Features - As with all Chase credit cards, you can pay your card online, check the balance of your BP credit card accounts online.
Verdict - As a background, the Chase BP Visa® Rewards Card before July 2006 has less impressive features. They only paid 3% rebates on BP Amoco purchases. Now the rebate is 5%, and 10% during the introductory period of 60 days. Secondly, you get paid 2% rebate on restaurants, and travel related purchases.
Update - Dec 2008 - Chase has drastically cut back on their credit card approvals due to loss and expected lossed from their credit card portfolio. It is now very difficult to get a Chase Credit Card. As an alternative, we recommend the TrueEarnings® Business Card from Costco and American Express. This card pays 5% rebates on all gasoline purchases, 3% on restaurants and 2% on travel. (You do need to be a costco member - but if you are not, think about how much you can save bulk buying stuff from their warehouse).
In light of these wonderful rebate features, we highly recommend the Chase BP Visaź Card to those who use BP Amoco stations for their gasoline. In fact, even if you did not, I would still recommend this card because you can earn 2% rebates for both dining and travel purchases.
Positives
No annual fee5% rebates on BP Amoco purchases2% rebates on dining and travel purchases
Enter your approximate monthly spending into the calculator
below to see how much you can earn per month if you're using
the Chase BP Visaź Card versus other cards!
| Sign-on Bonus |
Earn 10% rebate for BP purchases for first 60 days
Earn 4% rebates on dining and travel purchase for first 60 days
Earn 2% rebate on other purchases for first 60 days |
| Rebate |
Earn 5% rebate for gasoline purchases at BP
Earn 2% rebate for dining and travel purchases
Earn 1% rebate on other purchases |
| Caps on Rebate |
Unlimited |
Warranty Manager
Zero liability on authorized purchases
Emergency cash and card replacement
Lost/stolen card reporting |
| Introductory rate |
n.a. |
| Annual Fees |
No annual fee |
| Purchase APR |
Prime Rate plus 8.99% or 15.99% |
| Balance Transfer APR |
Prime Rate plus 8.99% or 15.99% |
| Cash Advance APR |
Prime Rate plus 15.99% |
| Penalty/Default Rate |
Prime Rate plus 23.99% |
| Min Finance Charge |
$1.00 |
| Grace Period |
20 days |
| Balance Calculation Method |
Average Daily Balance (including new purchases) |
| Balance Transfer Fee |
3%, min $5.00, max $99.00 |
| Cash Advance fee |
3% ,min $10.00 |
| Over-the-credit-limit fee |
$39.00 |
| Late Payment fee |
$15.00 - less than $100
$29.00 - $100 up to but not including $250
$39.00 - $250 and above |
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