I recently signed up for and got acceptance of a ShareBuilder Visa Platinum Card. This card is issued by FirstUSA and cobranded by ShareBuilder.com, a discounter broker site.

This card has some attractive features:

- 0% APR for purchase for 12 months
- 1% cash back (every $2,500 purchase results in a $25 credit to linked ShareBuilder account)
- no annual fee
- up to 25 days' grace period
- automatic transaction downloading to MS Money

I'm approved for a credit limit of $2,500. I plan to use this card in the following manner:

- i'll change my primary card to this card starting October
- i'll only pay the minimal for the next 11 billing cycle and keep the balance at around $2,400
- i'll accumulate the first $2,500 and earn $25 credit before taking MBNA WorldPoints card as my primary card
- i'll use MBNA card until i accumulate 20,000 points for $200 cash back, then turn back to this ShareBuilder card for quicker cash back and automatic transaction downloading to MS Money

This card will help me somewhat in short-term cash flow. I can postpone ~$2,400 payment to at least September 2004.

FINANCIAL ANALYSIS: This deal should worth up to $48. $2,400 average balance + 2% opportunity cost of capital (saving in NetBank). (On the other hand, the 1% cash back is a wash as MBNA offers same benefits.)

SIDE NOTE: This deal increases my emergency cash accessibility to $19,500 via credit card, which should be able to provide up to 5 months' worth of living costs.