The Choice Privileges® Visa® Platinum, issued by Bank of America, N.A. (USA), is designed for those with very good credit who plan to take advantage of the reward program that is offered.
The reward program is by far the most attractive benefit of the card and is ideal for those who frequently stay at any of the Choice Privileges hotel locations. Cardholders earn two points for each dollar spent on general purchases and 15 points for each dollar spent at Choice Privileges locations throughout the U.S., Canada, and Mexico, including Comfort Inn®, Comfort Suites®, Quality®, Sleep Inn®, Clarion®, and MainStay Suites®. New applicants also receive 8,000 bonus points after their first purchase, which is enough for a free night at over 1,000 Choice Privileges locations.
There is no yearly limit on the number of points that can be earned; however, any points earned in a calendar year will expire on December 31st of the second calendar year following the year during which the points were earned. Earned points can be redeemed for free hotel stays, gift certificates to retailers and restaurants, and airline miles with many major airline partners. In addition, there is a unique donation option that allows cardholders to redeem their points toward donations to the Armed Forces Relief Fund and UNICEF.
The card offers a low introductory rate that can be applied toward purchases and balance transfers for the first six billing cycles with no annual fee. Although the interest rate for purchases and balance transfers is considered reasonable for a reward credit card, it is not ideal for those who plan to carry a balance after the introductory rate expires.
In addition to the reward program, this card offers common platinum benefits provided by Bank of America, N.A. (USA) that include up to $500,000 in travel accident insurance, auto rental insurance, and lost luggage insurance.
Therefore, those who frequently stay at any of the Choice Privileges hotels (to earn additional points) and plan to pay in full each month (to avoid finance charges) will find the Choice Privileges® Visa® Platinum to be very beneficial.
Most Attractive Feature(s): No annual fee; no yearly limit on points earned; low introductory rate; bonus free night.
Least Attractive Feature(s): Not all applicants may qualify for the lowest rate offered; APR based on the highest Prime Rate during a three-month period.
Review Date: 9/27/2006
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