I have used the Priority Club card for a long time. For me it’s great. I usually charge around $1,500 per month on the card and I always pay off the balance in full. No interest charges for me unless it’s a mortgage. Using the POINTBREAKS hotels, I can usually earn 4-6 free nights per year plus I get a free night certificate good for almost any IHC hotel when I renew. That more than covers the $49 yearly fee. If you enjoy weekend getaways for just 5,000 points per night, it’s a great card.
Brent Healy
I have this card and use it to pay for the hotel during my MBA weekends. If you catch the bonus points offers (emailed every quarter or so) and stay a lot, you can get platinum really quickly and that means you get points back even when you use points. Also, i signed up under an offer to get 60,000 points at sign up, instead of 30,000. I am already at 100,000 points after just 5 months. Simply amazing. Also, since it’s visa signature, you can use it abroad with no foreign transaction fees…a huge plus 3% adds up big time. Michael is right, there are a lot of Ho-Inns for 5,000 for a reward night. the bonus alone gives you 12 nights. 12. That’s worth a lot to me.
Jan Solar
I see in T&C Balance transfer of 3%. does that mean if I repay at end of month full amount I’m charged by 3% for overall amount? If not what Balance transfers mean? Thanks
http://www.nerdwallet.com/ Tim
A balance transfer is when you take the balance from an existing credit card
and move it to a new one.
So if you have $1,000 balance on an old card, and you apply for a new one
with a lower interest rate, you can move that $1,000 to the new card. Then
the 3% fee means that you get charged $30 to do this (3% x $1,000), in
addition to any interest charges.
Because of these fees, balance transfers only make sense if you’re
transferring from a high-rate card (charging you 15%, for example) to a card
with a really low rate (let’s say 0%, due to the number of offers available
now). Then you’ll save so much money on interest that the $30 fee is okay.
