The Money Return Visa® Platinum, issued by Bank of America, N.A. (USA), is designed for those who are looking for a platinum credit card with a unique cash back reward program.
Cardholders will earn a 10% rebate on any finance charges that are applied to the account. Rebates of $2 or more are mailed via check. Rebates of less than $2 are credited to the account. Refunds are dispersed in January for the preceding year. Accounts must be in good standing to receive the refund. Of course, the major drawback of the program is that cardholders have to carry a monthly balance in order to receive any rebates, which can prove costly to those approved for the highest rate.
This card offers a 0% introductory rate that can be applied to purchases and balances transfers for the first six billing cycles, and it provides a reasonably low APR for purchases and balance transfers (for those who qualify) once the introductory rate expires. There is also no annual fee.
In addition to the rebate, cardholders can expect platinum benefits offered by Bank of America, N.A. (USA), including auto rental insurance, various travel and emergency assistance services, and purchase replacement.
Therefore, those who would like a rebate based on incurred finance charges and qualify for the lowest rate offered will find the Money Return Visa® Platinum to be a beneficial option.
Updated: May 30, 2006
Most Attractive Feature(s) : 0% introductory rate; no annual fee; rebate on finance charges.
Least Attractive Feature(s) : APR based on the highest Prime Rate during a three-month period.
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