Chemical Bank and First Bankcard have partnered up to launch the Dream MasterCard, offering triple points when cardholders buy gas and groceries and one point on all other purchases.
For some consumers this card may well be a dream come true, since many of the fees they traditionally pay have been taken out of this cards package, including late fees, over limit fees, and penalty rates. Also, there is annual fee with this card and a 0% rate on purchases and balance transfers the first six months.
This card includes a variety of benefits associated with MasterCard membership:
FirstGuard – fraud and identity theft protection
Zero Liability – Cardholders are not held responsible for fraudulent charges made with their card or using their account information
Auto Rental Insurance – Coverage with no additional fee for damage due to collision or theft (up to the cash value of the car)
Travel Accident Insurance – Accidental death or dismemberment insurance at no extra cost when booked with your Dream Card
Purchase Protection – For the first 90 days they will replace, repair, or reimburse cardholders for eligible purchases valued at up to $1,000
Extended Warranty – manufacturer’s warranty is doubled up to 12 months on purchases made with the Dream MasterCard
The Ins and Outs
There is no limit to how many points people can earn. But on certain promotions there may be a limit on bonus points. Rewards can be cashed in for travel, merchandise, gift certificates, and services. They can also be redeemed for cash. Cardholders have five years from the award date to spend their points before they expire.
Cardholders do not earn rewards on finance charges, cash advances, special check transactions, money orders (or cash equivalents), balance transfers, or services/products provided through the card, like credit card insurance.
While some fees have been eliminated from this cards package some fees still apply, including: balance transfer, cash advance, cash equivalent, returned payment and foreign transaction fees.
First Bankcard is a division of First National Bank of Omaha, the biggest privately owned banking company in the U.S. They have 5,000 employees, and have $18 billion in assets. Their offices are located in Nebraska, Colorado, Kansas, Texas, Iowa, Illinois, Kansas, and South Dakota.
Chemical Financial Corporation is headquartered in Michigan. They operate 157 banking offices located in 38 counties. As of June 30, 2014 their total assets were $6.2 billion.