The IN:NYC Card from American Express Card is a balance transfer card that offers an outstanding introductory offer for those looking to move their credit loans from high-interest credit cards. The card is also great for those who live in New York City or who frequent the city because of its unique reward system.
(Review Date: September 10, 2012)
For those looking for a balance transfer card, the IN:NYC Card from American Express may be a good choice. For the first 6 months of membership, cardholders enjoy a 0% APR on balance transfers, as well as on purchases. There are also no balance transfer fees for those transfers made at the time of application. Although the balance transfers do need to be submitted at the time of application, cardholders can easily save hundreds of dollars in interest fees by transferring their balances to the card. After the introductory is complete, the variable APR is based on the Prime Rate for purchases and cash advances, which includes balance transfers. The APR still remains low, particularly for a card that also offers a rewards program.
In addition to being one of the best balance transfer cards available, the IN:NYC Card from American Express also provides cardholders with access to a unique reward program. Through this program, cardholders earn one INSIDE Rewards point for every dollar they spend on general purchases with the card. They also earn double points for every dollar they spend on "City Essentials." These include magazine and newspaper subscriptions, dining, movies, cable and dial-up ISP subscriptions, cell phone service, and gym memberships. Cardholders can redeem these points on things such as dining and hotel stays within New York City, as well as on airline travel. There is no limit on the number of points a cardholder can earn and these points never expire.
In addition to saving money with balance transfers and earning money back with the rewards program, cardholders also save money with the Tuesdays IN:NYC program. With this program, members receive 10% off their purchases at merchants such as Oasis Day Spa, Nickel, J&R Music Computer World (on Tuesdays only), Jean Paul Gaultier, and Zabar's. Cardholders also receive Priority access to certain venues, such as Irving Plaza, and discounts at the Guggenheim Museum.
Despite having an excellent rewards program, this balance transfer credit card does not have an annual fee. It is also free to place additional cardholders on the account. The minimum potential credit limit for this card is $1,000 and the maximum is $100,000. Cardholders who exceed their credit limit are subject to a $35 fee.