Categorized | Featured, Money, Tips

Comparison of Smart Chip Credit Cards in U.S. – Chip & Signature

Posted on 24 June 2012 by David

Smart Chip Credit Card - Gold

Smart chip credit cards are becoming more important to carry on your trip abroad, as more merchants overseas discontinue their support for the magnetic strip credit cards predominately available in the U.S.

We have researched the list of smart chip credit cards you can apply for in the U.S. previously.  Today, we would like to provide a quick comparison of chip and signature smart cards available in the country.  Tomorrow I’ll compare the available chip and pin cards.

Key Considerations in Deciding the Right Card for You

The table below shows all the chip and signature cards available in the U.S. today.

None of the cards carry any foreign exchange fees (which is great news!) and all cards offer a rewards program.  All cards, with the exception of the J.P. Morgan Select Visa Signature Card, give you a sign-on bonus as well.

If you just want to get a smart chip credit card for travel (or bragging right for being ahead of the curve), get a card with no annual fee.  At this time, only the FlexPerks Travel Rewards Visa and J.P. Morgan Select Visa Signature offer no fee for the first year.  All cards have an annual fee after the first year.

However, after the first year, you can always cancel the card (just make sure you use up any rewards points in your account before you cancel), or call the bank and see if it will extend the no-fee promotion for you for another year (many banks will do that especially if you have been a good customer to them).

Which Chip and Signature Card We Would Pick and Why

Looking at the some of the benefits and features of each card, it appears that US Bank FlexPerks Travel Rewards Visa may be a decent card.  It has the lowest annual fee of all the cards, and no fee for the 1st year. That’s something to keep in mind especially if you plan to keep the card longer than a year.  As far as rewards are concerned, this card is currently offering bonus points.  The points will get you $50 for every 5,000 points which is equal to 1% cash back.  it also has a sign up promotion.

If it were up to us, our first choice would be the  US Bank FlexPerks Travel Rewards Visa by US Bank and our second choice would be the JP Morgan Select Visa Signature.  Both have no fees for the first year.  But by all means, take a look at the table below and pick the one that fits your spending style the most!

Chip-and-signature smart cards

Below are all the chip-and-signature cards compared side by side.

Card Name Issuing Bank Annual Fee Foreign Exchange Fees Rewards Sign Up Promotion
FlexPerks Travel Rewards Visa USBank $0 first year, $49 thereafter None FlexPerks rewards

  • 2 points per $1 spent on gas, grocery or airline purchases, whichever you spend most on each monthly billing cycle, and on most cell phone expenses
  • 1 point per $1 everywhere else
15,000 bonus FlexPoints after the first $500 in net purchases in the first 90 days.
J.P. Morgan Select Visa Signature Chase $0 first year, $95 thereafter None Chase Ultimate Rewards

  • 2 points per $1 on air, hotel, and auto rentals
  • 1 point per $1 everywhere else
None
J.P. Morgan Palladium Chase $595
(this is not a typo)
None Chase Ultimate Rewards

  • 2 points for every $1 spent on travel
  • 1 point per $1 everywhere else
35k points for spending $100,000 a year
British Airways Visa Signature® Card Chase $95 None British Airways Avios points

  • 2.5 Avios per $1 on British Airways
  • 1.25 Avios per $1 everywhere else
50,000 Avios Bonus after first use
The Hyatt Credit Card Chase $75 None Hyatt Gold Passport

  • 3 points per $1 at Hyatt
  • 1 point per $1 everywhere else
2 free nights at any Hyatt, worldwide, the first time you use the card.

 

Which smart chip credit card did you apply for?  Any questions, drop us a comment below!

 

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