Household Bank Credit Card

So a few weeks back, I was reading SlickDeals and apparently there’s a new credit card that may interest you folks: Household Bank Credit Card

Household Bank 2% Cash Back Cards

The Household Bank 2% Cash Back Cards are great for people who need to continue establishing credit with a brand they can trust. These cards offer 2% cash back on card purchases, value and built in benefits you can use every day and everywhere you shop.

It’s a credit card with 2% cash back on ALL purchases. Previously the winner was Fidelity Investments Rewards Card giving back 1.5% cash back on ALL purchases.

Of course I only recommend this as a fall back card for all those purchases that don’t qualify for 3-5% cash back and you’re only making 1-1.5% cash back on those purchases.

At first, I was like great deal, but who is Household Bank exactly. It appears that they’re own by HSBC, giving me a lot more assurance of this credit card company.

You can view more detailed terms and conditions:

You will receive 2% earnings redeemable for cash (with a maximum of $400 annually) on new net retail purchases charged to this credit card. Cash redemptions can be claimed in increments of $25 USD only. Upon approval, you will receive the Rewards Terms and Conditions.

$400 cash back annually equates to having to spend $20,000 to max out on their cash back, much more than enough. Unlike Advanta which has capped rewards to $60 annually, which I hit in a month or 2.

Unfortunately, they’re only starting me with a $2,000 credit limit. I’ve requested a credit limit increase immediately after applying, but I got a post card in the mail that said:

… we are unable to grand a credit limit increase at this time for the following reason(s):

THIS ACCOUNT HAS NOT BEEN ACTIVATED.

Guess I was a bit too impatient. I got my card and activated it today, and of course submitted a new credit limit increase request.

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