HSBC has just introduced a new card called the HSBC Weekend Card. It is a cash back credit card but with a new twist :

This is how it works. If you use the card on weekends (ie Saturdays and Sundays), then you will earn 2% rebates on your weekend purchases. When you use your card on regular weekdays (ie Monday through Friday), you will earn 1% rebates. Furthermore, you can earn unlimited rebates with this card and the rebate points do not expire.

This is the first cash rebate card of this sort and I think the idea is pretty novel. It gives those who tend to do their grocery shopping or any other type of shopping over the weekend a great way to earn higher cash rebates than a regular credit card.

However, I think it is best to use this card in combination with another card that pays a higher rebate on certain types of expenses. For example, the Chase Freedom Card pays 3% rebates on gasoline and supermarket purchases. Hence, it would be a great idea to combine these two cards.

Some of you (especially stay at home moms) will tend to do your groceries and other shopping during the weekday. So this card will probably not suit you if you are not a weekend shopper.

Kudos to HSBC for coming up with such a novel idea. It gives a new twist and meaning to “Frugal Weekend Shopping”!

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HSBC Weekend Card Review

Citibank is now offering a new cash back business credit card called the Citi Professional Cash Card. This is Citi’s foray into the cash back business credit card segment.

Like most cash back business credit cards, this one offers 3% cash back on business purchases like gasoline restaurants and office supplies (1% on regular purchases). You can earn up to $600 in cash rebates. Once you have earned $50 in rebates, you simply ask Citi to write you a check.

Cardholders will also be able to call a 24/7 business assistant (like a concierge service) to book your travel or dining arrangements.

There are other cash back cards like the Advanta Platinum BusinessCard with Rewards, or the American Express SimplyCash^SM Business Card, which pays 5% rebates on quite similar business expenses. But both these cards do not report to business credit bureaus like Dun and Bradstreet.

However, the all Citi business credit cards report to the business credit bureaus and help you build a credit history. If building a business credit history is important, then the Citi® Professional^SM Cash Card is defintely a card to consider.

I have also written a full review of the Citi Professional Cash Card here.

We are now offering the Chase Freedom^SM Cash Visa® Card on our site.

This card is the replacement of the Chase Cash Plus (which was one of the best cash back card as it paid 5% cash rebates on purchases made at supermarkets, gasoline stations and drugstores, until it was discontinued). The new Chase Freedom Card pays you 3% cash rebates on supermarket, gasoline stations and quick service restaurants purchases. For other regular purchases, you will earn 1% cash rebates. The only restriction in this card is that you can only earn 3% rebates for the “3% items” for up to $600 in monthly spending. For most people, that should not present a problem.

This card is certainly better than the Citi Dividend Platinum Select, which only pays 2% cash back on supermarket and gasoline station purchases.

You can also choose to earn reward points rather than cash rebates and hence, the card is also flexible.

At the moment, the Chase Freedom^SM Cash Visa® Card is probably the best consumer cash back credit card without a tier formula. Though the Blue Cash® from American Express pays 5% cash rebates on supermarket, gasoline and drugstore purchases, it only kicks in after you spend $6,500 every year. With the Chase Freedom Card, you earn 3% straight away.

If you are looking for a cash back card, this is a card that you should definitely consider. I have also just written a review of the Chase Freedom Card.

To further differentiate their cards, Discover has offered applicants of their student credit cards the choice three new designs with their monograms on them.

The features of these cards are the same as the regular Discover Platinum Student Card. What is different is just the card design - to make it more personal. You can choose from three colors - Black, Green or Sexy Pink.

I’m not too sure if simply offering the ability to put a monogram on your card is going to get more applications. But they sure look bright and fun! You can apply for the Discover® Student Monogram Card here.

American Express has just come up with a new cash back business credit card called the American Express SimplyCash^SM Business Card.

While all of American Express cash rewards credit cards have a tiered rebate formula, the Simply Cash has a simple formula. You earn 5% rebates for purchases of wireless telephone services, automobile gasoline, and office supplies and equipment and 1% rebates for all other purchases. You can earn unlimited rebates.

In my opinion, I think this card is better than the Advanta Platinum with Rewards because it has no caps on the amount of rebates you can earn. It is better than the Chase Business Rebate Card as it pays 5% rebates on certain business expenses versus Chases’ 3%. I also think it is slightly better than the Blue Cash for Business because you can earn unlimited 5% rebates on the specified categories.

If you are a small business owner looking for a cash reward business credit card, this will the the card to get.

Citibank has just allowed those with no credit history to apply for the Citi® Platinum Select® MasterCard®.

This card has different terms from the original (or should we call it regular) platinum select card. The regular card is targeted at those with very good credit. It has a 0% balance transfer deal for 12 months and a low apr at prime rate plus 2.99%. This card has a 0% apr deal for purchases for six months, no annual fee and a slightly higher apr.

For those with no credit history, this card is great welcome. Previously, you either had to apply for a secured credit card or an expensive sub prime credit card. Now, you can get a no annual fee unsecured credit card even if you have no credit history. (note that you will be turned down if you have a bad credit).

For those with no credit history, this is the first card to get your hands on.

Two of new prepaid credit cards have caught my attention.

The first is the Elvis Presley™ Prepaid MasterCard®. The second is the Johnny Cash™ Prepaid MasterCard®.

I am not too sure if devoted fans of Elvis or Johnny Cash are going to snap up these prepaid cards. Unlike other memorabilia where you pay a one time cost for them, with these prepaid credit cards, there are on-going fee. Having said that, you can actually use the cards.

It will be interesting to see if more card issuers resort to famous singers or entertainment legends in their marketing efforts. Perhaps John Lennon’s Prepaid Master Card is next? Check out the pictures on the cards below.

Orchard Bank has added a new reward feature to their range of Master Cards. Going forward, all Orchard Bank Master Cards will pay 2% cash rebates on all purchases made on the card. Furthermore, you can earn unlimited rebates!

What is the most interesting aspect of this cash reward is that Orchard Bank (though owned by HSBC Bank) is an issuer of subprime credit cards (ie credit cards for those with bad credit). Applicants will either be approved of a secured card, a gold, platinum of prime platinum unsecured credit card depending on their credit. Fees and rates vary, but Orchard Bank has one of the most reasonable annual fees and rates among most subprime cards.

With this new 2% cash back feature, I expect them to be taking a larger share of the sub prime market. For that matter, there is presently no cash back credit card (aside from this one) that offers a 2% rebates on all purchases. Hence, my opinion is that even if you have good credit, you might want to consider getting the Orchard Bank® 2% Back MasterCard®. It will make a great compliment if you have the Blue Cash from Amex.

We are now offering 2 new cards from American Express - The Knot credit card and The Nest Credit Card.

These are considered “lifestyle credit cards”. Well, who and what is “The Knot” and “The Nest”. The Knot is actually an online wedding store and community which caters to “brides to be”. They have several partner sites as well.

“The Nest” is an online website community that is targeted at those who have just married - “young couples”.

The credit cards are unique in the sense that you would expect the card to let you earn reward points for buying things from their sites or stores. But that is not the case. Instead, every dollar that you spend on these cards gets you one Membership Rewards Option points. This probably makes sense because you will probably only shop at these places for the occasion (like for wedding stuff at theknot.com). As an incentive for you to get these cards, The Knot will throw in a free wedding planner, while The Nest throws in a financial planning binder.

I am not too sure if many people will actually get either of these cards, but their websites are popular and regular members would probably consider them since you can actually earn Amex points and get periodic discounts for their stores.

You can read our review of The Knot Credit Card and the Nest credit card here.