Daskaloff credit card rating system

=About the author =

The Daskaloff rating is a unique protocol for evaluation of US credit cards that was developed by Alex Daskaloff, the author of " Credit Card Debt: Reduce Your Financial Burden in Three Easy Steps." [Daskaloff, A: "Credit Card Debt: Reduce Your Financial Burden in Three Easy Steps.", Avon, 1999] and the founder of CardOffers.com [Khan, Miranda. [http://www.wptv.com/content/investigative/usefullinks/story.aspx?content_id=35c3fb99-bc14-4b29-93fa-72a5e00f3d48 "Finding the perfect credit card for you"] , "WPTV", October 19 2007. Accessed November 26 2007.] - A free online credit card directory that provides educational and useful information to visitors.

ystem principles

The Daskaloff rating system [cite web |title=Daskaloff rating system |url=http://www.sortcreditcards.com/daskaloffsystem.html |accessdate=2007-11-26 ] helps consumers to understand what a credit card has to offer to cardholders and the overall cost of using the credit card. The rating protocol is based on points and is divided into two sub-systems: the "Overall Rating" and "Benefit Rating" systems. The "Overall Rating" estimates the value of a credit card to a cardholder as compared to other credit cards within the same category (e.g. Cashback credit cards). The "Benefit Rating" reflects the additional benefits and services (e.g. rental car insurance, concierge service, etc) offered by the credit card company to a cardholder.

ystem details

Each credit card category contains anywhere from 15 - 40 different rating parameters. Features of a credit card with a high Daskaloff rating normally include
*Low interest rate
*No annual fee.
*Unique benefits.
*Unlimited rewards.
*No fee for reward program.
*Special product discounts.

Credit card with a low Daskaloff rating typically have
*High annual fee.
*High interest rate
*No grace period.
*Two-cycle average daily balance.
*Limited benefits.
*Application fees.

The Daskaloff rating system does not include the following
*Quality of customer service.
*Penalty fees (e.g. late payment fees, over limit fees, etc.).
*Online account services (e.g. email alerts).

Below are examples of point assignments for " APR" parameter of "Overall Rating":
* APR for Purchases < 6% : +18 points
* APR for Purchases < 9% : +12 points
* APR for Purchases <12% : +6 points
* APR for Purchases >17% : -6 points

ystem application examples

An example of a list with 140 US credit cards sorted by Daskaloff rating can be seen [http://sortcreditcards.com/daskaloffsystem.html] here.

References

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