Benefits include:

• 0% FIXED APR for 12 months on Balances Transferred now (not on Purchases or Cash Advances)*
• Up to 10% Cash Back on Gas Purchases for 6 Months*
• Up to 5% Cash Back on “Everyday Purchases” and 1% on Other Purchases*
• No annual fee!

The most impressive aspect of this card is that it turns into a 5% rebate card at grocery stores, gas stations, drugstores, and dry cleaners (exluding purchases made at superstores and warehouse clubs) after $4,000 in spending:

Total Net New Purchases to Date During Rebate Period	Rebate on Everyday Purchases (Except Gasoline for First 6 Months of Account)	Rebate on Purchases of Gasoline for First 6 Months of Account	Rebate on Other Purchases
$0–$1,000	0.5%	5.5%	0.25%
$1,001–$2,000	1%	6%	0.5%
$2,001–$4,000	3%	8%	0.75%
$4,001+	5%	10%	1%

For anyone who spends a lot annually on “everyday purchases,” this becomes an attractive card. You would have to “suffer” through the first $4,000 in spending, which, if you charged only on EDP, would earn an effective rebate of 1.875%. That’s considerably better than the Amex Blue Cash, which earns only 1% on EDP for the first $6,500 of annual spending. The one advantage that Blue Cash has over this Wamu card is that once $6,500 is reached, the base rebate becomes 1.5%, as opposed to Wamu’s 1%.

Link (via FW)