The Chase Free Cash Rewards Platinum Visa Card is designed for those with very good credit who would like a card that offers a reward program.
Through the reward program, cardholders earn one point for each dollar spent on general purchases and for each dollar in interest applied to the account. Cardholders are awarded 1,000 bonus points with their first purchase. Each time the cardholder accrues 2,500 points they will receive either a $25 gift check or a $25 gift certificate from their choice of various merchants and retailers.
In addition to the reward program, cardholders have access to common platinum benefits provided by Chase, such as auto rental insurance, extended warranties for purchases, and up to $500,000 in travel accident insurance.
For those who qualify, the card has a reasonably low interest rate for purchases and balance transfers in comparison with other reward cards. There is also a 0% introductory rate on purchases and balance transfers for twelve months and no annual fee.
Those who plan to occasionally carry a large revolving balance may find doing so costly due to the "Two Cycles Average Daily Balance" method used by this credit card to determine finance charges, which ends up costing more to maintain an occasional balance as compared to the "Average Daily Balance" method used by many credit card issuers.
Therefore, those who qualify for the lowest rate offered and will take advantage of the reward program will benefit most from what the Chase Free Cash Rewards Platinum Visa Card has to offer.
Most Attractive Feature(s):
Long term 0% introductory rate on purchases and balance transfers; no annual fee; bonus miles.
Least Attractive Feature(s):
Uses "Two Cycles Average Daily Balance" method when determining finance charges.
Additional Perks
Various Internet account related services.
Emergency card replacement.
Emergency cash replacement.
Lost and stolen card reporting.
Up to $500,000 in travel accident insurance.
Auto rental insurance.
Various travel and emergency assistance services.
Extended warranty for purchases.
No liability for unauthorized transactions.
See website for additional benefits.
Important Notations
The APR for purchases and balance transfers varies according to the applicant's credit history and is either 4.74%, 8.74% or 12.74% + Prime Rate. See website for complete terms and conditions of card usage and application disclosure.
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