Review of BP Credit Card



The BP Credit Card is more than a rebate credit card because it lets' you earn an unheard of 2% rebate for both restaurants and travel related purchases. Read the rest of our review

The BP Visa Platinum was last reviewed on : 6th July 2006

chase bp credit card
Summary - We have added the Chase BP Credit Card to our Editor's Choice List because


  • You get 5% rebates on purchases at BP Amoco
  • You 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 BP Credit 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 6.99%, 10.99% or 14.99%. The BP credit card uses the two-cycle average daily balance method (including new purhases) to calculate monthly balances and finance charges. You get a 0% introductory apr for both purchases and balance transfers for six billing cycles.

Verdict - As a background, the BP Credit 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. As far we know, there is no cash back credit card that pays 2% rebates on travel items in the market. There are also hardly any credit cards that pay more than 1% on dining purchases (Discover used to have a restaurant credit card that paid 5% rebates but this has been discontinued).

In light of these wonderful rebate features, we highly recommend the Chase BP Visa� Rewards 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 fee
  • 5% rebates on BP Amoco purchases
  • 2% rebates on dining and travel purchases


Balance Transfer Fee
BP Credit Card
Reward Benefits
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
Travel and Insurance Benefits
Up to $500,000 Travel Insurance
Auto Rental Insurance
Travel and Emergency Assistance
Other Benefits
Warranty Manager
Zero liability on authorized purchases
Emergency cash and card replacement
Lost/stolen card reporting
Cost/Fees/Interest rates
Introductory rate 0% APR for 6 billing cycles (both purchases and balance transfers)
Annual Fees No annual fee
Purchase APR Prime Rate plus 6.99% or 10.99% or 14.99%
Balance Transfer APR Prime Rate plus 6.99% or 10.99% or 14.99%
Cash Advance APR Prime Rate plus 14.74%
Penalty/Default Rate Prime Rate plu 23.99%
Min Finance Charge $1.00
Grace Period 20 days
Balance Calculation Method 2-cycle Average Daily Balance (including new purchases)
3%, min $5.00, max $75.00
Convenience checks fee 3%, min $5.00, max $75.00
ATM Cash Advance fee 3% ,min $10.00
Other Cash Advance fee 3% ,min $15.00
Over-the-credit-limit fee $35.00
Late Payment fee $15.00 - less than $250
$39.00 - $250 and above



Apply for the Chase BP Visa� Rewards Card




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