Review of National City Bank Cashbuilder Elite Visa




The National City Bank Cashbuilder Elite Visa was last reviewed on : 14th March 2005

Summary - The National City Bank Cashbuilder Elite Visa is a tiered cash rebate credit card. This is how it works. For the first $2,000 in spending, you earn 0.5% rebate. For spending from $2,000.01 to $40,000, you earn 1% rebate. For spending above $40,000, you earn 2% rebates. You can earn up to $1,000 rebates in a calender year. Based on the limit, it means you can earn rebates for up to $70,500 in annual spending. If you spend that amount, your annual rebate percentage is 1.4184%. Rebate checks are given at the end of the year and they expire in 180 days.

There is no annual fee. The apr is either prime rate plus 4.49%, 5.99% or 7.99% depending on the banks assessment of your credit.

In addition, you will also get travel accident insurance, auto rental insurance, travel and emergency assistance as part of the credit card benefits. Another benefit that National City Bank offers on their credit cards is the ability for you to choose your payment date during a month. You can synchronize your payment with your other credit cards. You can also get additional cards with no additional fee.

The National City Bank Cashbuilder Elite Visa is, in my opinion, a good cash rebate credit card. Though it is tiered, it is based on annual expenditure and not contingent on carrying a balance. Furthermore, they allow you to earn up to $1,000 in annual rebates. Most cash back credit cards have a limit of about $300-$500. It implies that you can earn rebates for up to $70,500 in annual spending. There is also no annual fee and the apr is relatively low. If you spend close to $70,000 on your credit card and want to earn cash rebates, then the National City Bank Cashbuilder Elite Visa may just be the right credit card for you.

Positives
  • Can earn 2% rebates for spending over $40,000
  • High rebate limit of $1,000
  • No annual fee
  • Low apr
  • Can choose your monthly payment date


Negatives
  • Tiered rebate formula - earn only 0.5% for first $2,000 in spending (this card is for high spenders)


National City Bank Cashbuilder Elite Visa
Cash Rebate Benefits
Rebate Formula Tiered Rebate Formula
Earn 0.5% rebate for first $2,000 in annual spending
Earn 1% for annual spending of between $2,000.01 to $40,000
Earn 2% for spending over $40,000
Caps on Rebate $1,000
Rebate Expirey Rebate checks are issued once a year in December. Checks expire after 180 days from date of issuance
Travel and Insurance Benefits
$250,000 travel accident insurance
Auto rental insurance
Travel and emergency accident
Roadside dispatch
Other Benefits
Purchase security
Warranty Manager
Choice of payment due date
Cost/Fees/Interest rates
Introductory rate 0% introductory apr for 6 billing cylces (purchases and balance transfers)
Annual Fees No annual fee
Purchase APR Prime Rate plus 4.49%, 5.99% or 7.99%
Balance Transfer APR Prime Rate plus 4.49%, 5.99% or 7.99%
Cash Advance APR Prime Rate plus 4.49%, 5.99% or 7.99%
Penalty/Default Rate APR Prime Rate plus 23.9%
Min Finance Charge $1.50
Grace Period 20 days
Balance Calculation Method Average Daily Balance (including new purchases)
Balance Transfer Fee 3%, min $10.00 (no balance transfer fee during introductory period)
Cash Advance fee 3% of cash amount
Over-the-credit-limit fee $35.00
Late Payment fee $15.00 - up to and including $150
$25.00 - $150.01 to $1000
$35.00 - $1000 and greater



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