Discover credit card holders will find the feature at the bottom left of the Discover home page. Discover gives cardholders two ways to use this feature. First, software can be downloaded to a PC or Mac. the software will generate the secure online account number to be used for shopping. Second, cardholders can set up a secure account number via the Internet from any computer.

Each secure online account number can only be used at the online retailer where it was first assigned. As a result, if the number is stolen, it can’t be used anywhere else. And because it’s not the actual Discover card number, the cardholder’s account number is never at risk of loss. You’ll find more FAQs on the secure online account number here. And here is how simple it is to use, according to Discover:

Under the points-based program, dubbed Ultimate Rewards, customers will earn points for every dollar spent on certain Chase credit cards, with no earnings caps or expiration dates. Points can be redeemed for travel, cash, statement credits or gift cards, generally on a one-for-one basis with each point worth one penny. Users can also redeem points for merchandise, although the redemption rate is slightly less than one percent.

Similar to American Express and Citi’s rewards program, Ultimate Rewards is designed to work with all of Chase’s reward credit cards.

Chase Sapphire Card

At the same time, Chase has launched a new high end rewards card called Sapphire. The Sapphire card lets you earn points every time you use your Chase Sapphire card to make a purchase. You can redeem points for virtually any reward—without expiration dates, blackout dates or limits to what you can earn.

Sapphire cardholders earn:

• One point for every dollar you spend on the card*
• Double points on airfare purchased through the Travel Booking Tool*
• Up to 10 bonus points per dollar when you shop online at over 300 of your favorite merchants featured at the Ultimate Rewards Mall.*

The Sapphire card comes in two versions, standard or Preferred. The preferred card has a $95 dollar annual fee, but is waived the first year. It offers enhanced rewards over the standard version, including the opportunity to earn 10,000 bonus points each year you spend at least $50,000 with the card.

How does Ultimate Rewards and the Sapphire Card compare

Chase’s new program offer some noteworthy rewards, although they are not best in the rewards credit card category. Citi Foward, for example, offers up to 5 points per $1 spent, and it does not have an annual fee.

Dear Customer,

Effective May 30th all Advanta Business Credit Card accounts, including your account, will be closed. This is because Advanta Business Card accounts are generally funded by an independent trust which owns the balances owed on the accounts and provides funding for new transactions and we expect the trust to stop funding activity on our accounts. The trust also restricts our flexibility to fund account activity.

This means that you will not be able to use your card or account for new transactions, including purchases, checks and balance transfers beginning on May 30th. We understand that you may have written checks on your account before May 30th and we will make every effort to honor those checks that are presented to us for payment by June 3rd. If you use your Advanta card to make automatic recurring bill payments, you will need to make alternative arrangements for those payments promptly.

It is important to understand that you are not required to pay your entire balance at this time. You may continue to pay down your account balance over time, as allowed under your Advanta Business Card Agreement.

You will not lose the rewards that you have earned. If you participate in a Cash Back program, you will receive a check for the amount of any accrued rewards more than $1.00 as long as you make the required minimum payments and your account remains in good standing. If you participate in a Business Rewards program, you will have at least 60 days to redeem your points as long as you make the required minimum payments and your account remains in good standing.

We deeply regret the impact this action will have on your business and very much wish it was not necessary.

We are committed to assist you through this process. Additional information will be available at www.advanta.com/notice. If you have any other questions or concerns, or if we can assist you in any other way, please feel free to contact our Customer Service Center. You can email us your questions 24 hours a day at www.advanta.com/secure or call us toll free at (800) 705-7255, Monday - Friday 8:00 am to 8:00 pm and Saturday 8:00 am to 5:00 pm Eastern Time.

• This includes purchases at any of the following locations on base: Commissary, Exchange (BX/PX, NEX, MCX), Shopette/Convenience Store, Exchange catalog, Exchange online store and Exchange Gas/Service Station.
• Access to U.S. Military Bases is at the discretion of each base individually. For information regarding military base locations, visit www.militaryinstallations.dod.mil
• You will continue to earn up to 1% Cashback Bonus or 1 Mile for each dollar you spend, as applicable, on all other purchases including purchases at U.S. Military Bases in excess of $1,000 during the promotion period.
• We are not responsible for merchant delays in processing transactions.
• Your promotional reward will be applied within 8 weeks.
• See Cashback Bonus Program Terms and Conditions or Miles Program Terms and Conditions, as applicable, for further details.

Through Discover, families can donate their cash back rewards to Operation Homefront“>Operation Homefront if they so choose. Discover also has an article on Money Saving Tips for Military Families“>ways military families can save money.

There were some great carnivals and articles about credit cards around the net this week. Check ‘em out:

Credit Card Articles

• Historic Credit Card Legislation: First Step in Meaningful Credit Card Reform
• Will New Law Make Credit Cards More Expensive
• New CCH White Paper: An Analysis of the Credit Card Act
• My 1-Hour Blog Talk Radio Session With Ask Mr. Credit Card!
• UPDATE 3-HSBC sees tough 2010, may rethink US credit cards | Reuters
• How To Freeze Credit Reports Online
• Capital One Changes Everything But The Design On Customer’s Card

Carnivals

• Carnival of Personal Finance #205: Pay it Forward Edition
• Personal Finance News Carnival Volume 5
• Money Hacks Carnival - Otter Pop Edition
• Carnival of Family Life: In Praise of Mom Edition
• Carnival of Personal Development - Final Edition
• Money Hacks Carnival: Swine Flu edition
• Festival of Frugality - Remember When Edition
• Personal Investment and Personal Finance Blog Articles this Week

Fidelity offers three cash rewards cards, depending on the type of Fidelity account cardholders want to link to the credit card. These account types are a 529 plan, a Fidelity IRA, or mySmart Cash Account® or brokerage account.

It is important to keep in mind that all IRA and 529 plan contributions resulting from the card will be considered current-year contributions. The ability to contribute to an IRA or 529 college savings plan account is subject to IRS rules and specific program policies, including those on eligibility and annual and maximum contribution limits.

One of the benefits of this Card is that you can direct your rewards points to a friend or family member’s Fidelity-managed 529 Plan account. Friends and family members can also link their 529 College Rewards Cards to your account.

To the extent that you are not eligible to make an IRA or 529 plan contribution or have already made your maximum IRA or 529 plan contribution for the year, any additional contributions can subject you to IRS excise taxes. Fidelity warns that it is the cardholder’s responsibility to ensure that any deposits to a linked Fidelity account are eligible contributions and do not violate the terms of a cardholder’s Fidelity account, applicable IRS contribution rules, or limitations or other applicable laws or regulations.

Before depositing cash rewards into a linked account, however Fidelity will check to verify whether a cardholder has reached their maximum contribution amount with Fidelity for that year. If Fidelity determines that a customer has fully contributed to his or her Fidelity IRA(s) accounts for that year or reached the maximum contribution limit on his or her Fidelity 529 account, Fidelity will not accept the points transfer, and the customer’s points will continue to accrue. Customers can continue to let points accrue until the next year, or they can redeem these points for other merchandise or travel.

How are points redeemed into a Fidelity account?

Fidelity American Express Cardmembers earn 2 points for every $1 spent in net retail purchases. Customers can choose to have their points automatically redeemed for cash into their eligible Fidelity account, or choose to accrue points and redeem them on demand at any time. Customers must earn a minimum of 5000 points to have them redeemed into a Fidelity account. Once you have reached 5000 points, they can be converted at a rate of 1% (1 point = $0.01) into the eligible Fidelity account you designate. Deposits will be sent via the Automated Clearing House (”ACH”) Network into your designated Fidelity account(s).

As an added benefit, cardholders can choose to redeem their points for travel with no blackout dates, gift certificates, brand name merchandise, or other items.

Best Balance Transfer–IberiaBank Visa Classic

CNN Money named the IberiaBank Visa Classic as offering the best balance transfer deal. Given that the Iberia card is one of the few offers with no balance transfer fee, it is not a surprise to see it on the list. Add to that a regular APR ranging from 6.25% to 8.25%, and the card is a hard one to beat.

There are a couple of things to keep in mind, however. First, the balance transfer introductory rate lasts for just 6 months. There are 12 month deals that, even with a 3% balance transfer fee, might be a better offer. The Discover More Card, for example, offers a balance transfer deal for up to 12 months, and cash back rewards of up to 5% to 20%.

The other thing to keep in mind with any Iberia card is that they are very difficult to obtain. An applicant must have excellent credit and fax proof of income (pay stubs, tax returns) as part of the application process. That said, here are the current terms of the Iberia Visa Classic:

• Variable Rate APR ranging from Prime + 3% thru Prime + 5% (As low as 6.25% - 8.25%)
• Cash Advance Variable Rate APR ranging from Prime + 7% thru Prime + 9% (As low as 10.25% - 12.25%)
• No annual membership fee
• 0% Introductory APR on balance transfers for the first 6 billing cycles. Applies to balance transfers processed within three months of your account open date
• No transaction fee for balance transfers
• 25 day grace period
• Online access to credit card account information

  Apply Now!

Cash Back for Small Spenders–Schwab Bank Invest First Visa

For those that don’t put a lot on their credit cards, CNN Money recommends the Schwab Bank Invest First Visa. Cardholders earn 2% unlimited cash back on every single purchase made. Applicants must have a Schwab One brokerage account, but there are no fees to open or maintain it. Points are earned for each purchase, equaling one point for each $1 spent. Points can then be converted to cash, with 1,000 points worth $20. The cash is deposited into a linked Schwab One brokerage account.

Cash Back for Big Spenders–American Express Blue Cash

For big spenders, CNN Money recommends the Blue Cash card by American Express. With Blue Cash, cardholders who charge at least $6,500 a year will see their cash-back percentage increase form from 1% to 5% on purchases at gas stations, supermarkets, and drugstores, and from 0.5% to 1.5% on everything else. For those with exceptional credit, Blue Cash also currently offers a regular APR interest rate as low as 7.99%.

A good alternative to the Blue Cash card is the American Express TrueEarnings Card from Costco. For those that shop at Costco, the True Earnings card offers cash back as follows: 3% for gasoline, for annual gasoline purchases of up to $3,000 (1% thereafter), 3% for restaurants, 2% for travel, and 1% everywhere else, including Costco.

Best Gas Rebate Card–Pentagon Federal Visa Platinum

For those looking for a gas rebate card, CNN recommends the Pentagon Federal Visa Platinum. Cardholders get 5% unlimited cash back at the pump, plus 2% on supermarket purchases and 1.25% on everything else. You must join a credit union to get the card.

Best Travel Rewards–Escape by Discover Card

For best travel rewards, CNN recommends the Escape card by Discover. Cardholders earn two miles for every dollar spent, plus 1,000 bonus miles each month they make a purchase for the first 12 months. The card does come with a $60 annual fee.

Of course, if you are not already a Discover cardholder, you can check out all of Discover’s credit cards. Discover has been taking a number of steps recently to go green. Just earlier this month, Discover launched one of the first biodegradable credit cards.

Hat tip to The Suns Financial Diary for bringing this sweepstakes to our attention: Discover Card $30,000 Paperless Statements Sweepstakes

In addition, be sure to check out these personal finance carnivals, which showcase some of the best personal finance blogs on the net:

• Carnival of Personal Development(@purpose power coaching)
• Carnival of Debt Reduction (@ManvsDebt)

Carnival Of Twenty Something’s Finances: Backpacker’s Edition (@ManvsDebt)

Through the good folks at BillShrink.com, however, Kelli was able to identify four credit cards that are already complying with some of the new rules. Because our goal here at Credit Card Offers IQ is to find consumers the most sensible credit card deals available, we wanted to bring these cards to your attention. So here they are:

Discover Motiva

Best for: Carrying a balance
Introductory offer: 3.99% on purchases and balance transfers for up to 12 months.
APR: As low as 10.99% variable.
Annual fee: None.
Rewards: Make six consecutive on-time payments, and receive a cash bonus equal to your next month’s interest charge. You’ll also earn 0.25% cash back on the first $3,000 in purchases annually, and 1% back on everything thereafter.

Following the Fed’s New Rules: The Motiva card lets cardholders set their credit limit so that purchases above it will be declined. Payments can be made by phone without an extra charge, even on the due date. And cardholders can chose the due date that works best for them.

Wells Fargo Platinum

Best for: A low rate
Introductory offer: 0% on purchases and balance transfers for up to nine months.
APR: 7.65% variable.
Annual fee: $0, or $19 if you want to participate in the optional rewards program.

Following the Fed’s New Rules: Wells Fargo does not ding consumers with universal default, and it gives cardholders at least 45 days’ notice of rate increases. Statements are mailed to cardholders at least 25 days before the due date.

Citi Forward

Best for: Earning rewards
Introductory offer: 0% on purchases and balance transfers for up to six months.
APR: 12.24% variable.
Annual fee: None.
Rewards: Earn five points per dollar spent on books, movies, music and restaurants, and one point per dollar spent on everything else. Pay on time and stay below your limit to earn 100 bonus points per month. You can also earn two one-time bonuses: 6,000 points when you spend $50 within three months of opening the card, and 5,000 when you sign up for paperless statements within that time period.

Following the Fed’s New Rules: Citibank has eliminated double-cycle billing and provides cardholders with at least 45 days’ notice of rate hikes.

Capital One Platinum Prestige

Best for: Transferring a balance
Introductory offer: 0% on purchases and balance transfers for up to 12 months.
APR: 11.9% variable.
Annual fee: None.
Rewards: None.

Following the Fed’s New Rules: Capital One ,ails out its statements 25 days before the due date, and doesn’t use double-cycle billing. It also lets cardholders set a fixed credit limit that they can’t exceed.

Hat tip to Smithee at Consumerism Commentary for bringing Kelli’s article to our attention.

@takingcharge: CreditCards.com, the #1 credit card site on the Internet, tweets daily on all things credit cards.

@Citi_Forward: Citi has launched a separate Twitter thread for its new card, Citi Forward. If you have the card or are considering it, Citi_Forward is definitely worth following.

@discovercard: Have a Discover Card? If so, Suzanne is there to help. You can learn about new deals, rewards and offers. You can even discuss issues you may be having with your card.

@CreditExperts: From credit.com, get the latest updates from one of the Internet’s top credit card sites.

@creditcardmix: CreditCardMix offers daily updates on the credit card industry.

@CreditCardOffer: You’ll find daily tweets about new credit card offers and deals from the guy behind Plastic Rewards, a site focused on the many rewards credit cards have to offer.

@masteryourcard: Jonathan and Kristy from Master Your Card (love the name! 25 years ago, however, it would have been “Master Your Charge”! I know, I’m showing my age) tweet about all things credit cards. I’ve enjoyed their blog for some time, and their tweets are well worth your time.

@kotakcards: Kotak Mahindra is one of India’s leading financial conglomerates, and it offers news and information about credit cards on an international scale.

@ncn: NCN runs the No Credit Needed blog, and it is worth following for the “keep clear of credit cards” crowd. It’s an important perspective to consider, and nobody does it better than ncn.

The Bonus Points Mall Add-on is a free Firefox 3.0 browser extension, also known as an add-on. Whenever you search for a product on Google or Yahoo, a small non-obtrusive window will pop up alerting you of bonus points opportunities. The pop-up will display the matched keyword and list up to three merchant partners. By clicking on the merchant offer links in the pop-up, you will be taken to the Bonus Points Mall website, where you can earn Membership Rewards bonus points when you purchase the product with your eligible Membership Rewards enrolled American Express Card through the Bonus Points Mall.

While we are talking about cool things, check out these great credit card articles from around the blog:

Who is Complying with New Credit Card Rules? An Update (@ The Wallet): Although the Fed passed new credit card regulations, they do not go into effect until July 2010. Some card companies, however, have already put some of the rules in effect. Check out The Wallet’s article to find out which cards have ditched universal default, double-cycle billing, and unfair payment allocation.

Liz Pulliam Weston vs. Suze Orman - Who’s Right? (@ All Financial Matters): The Battle of the Titans: Liz Pulliam Weston vs. Suze Orman on whether one should save up an emergency fund or pay off credit cards first. Check out the article for AFM’s take on the issue.

Smithee’s Best Advice for Graduating Seniors (@ Consumerism Commentary): Does credit card use in your 20s determine your financial freedom at 40? Check out this interesting analysis for the answer.

Visa Debit Cards More Popular Than Visa Credit Cards (@ No Credit Needed): Debit card use exceed credit card use for the first time. Are credit cards on the endangered species list?

Credit Card Industry Defeated - For Now (@ Dual Income No Kids): A nice video summarizing the credit card legislation.

Ten Things I Wish I Had Done When I Was Twenty (@ The Simple Dollar): An eye-opening list of good financial advice Trent wishes he’d followed when he was 20. One is to use credit cards more wisely.

Credit Cards Don’t Suck, You Suck! (@ Free From Broke): Are credit cards the problem or are cardholders the problem?

It’s Just a Credit Card, Stupid! (@ Money and Such): Check out the reaction when one blogger pulls out a Blue Amex!