U.S. Bank just launched a new "buy now, pay later" credit card called the Split™ World Mastercard®. The main gimmick? It lets you split purchases into three, six, or twelve-month payment plans. The good news is that if you choose the three-month option, there are no extra fees. For longer payment plans (six or twelve months), you'll pay a fixed "plan fee," which they'll reveal when you're extending the payment plan beyond three months.

So, what's the catch? Well, this card earns absolutely no rewards. Nada. Zip. Zilch. For award travelers like us, that’s a major dealbreaker. While you could theoretically try to game the system by using the card to buy things that are basically cash (like gift cards) and then stash that cash in a high-yield savings account, the Doctor of Credit doesn't think the hassle would be worth the tiny bit of interest you might earn. In short: probably not a great option if you're trying to maximize your rewards!