The Power Rewards™ Visa® Platinum Card, 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 it offers.
Cardholders earn one point for every dollar spent on general purchases, which can be redeemed for a variety of benefits including merchandise, gift certificates, cash rebates, and travel rewards. Cardholders also earn 500 bonus points after their first purchase. There is no limit to the amount of points that may be earned per year; however, points do expire in five years.
Although the rate for purchases and balance transfers is reasonably low for a reward card, only the highest qualifying applicants will receive the lowest rate offered. There is also a 0% introductory offer that applies to purchases and balance transfers for the first six billing cycles, and this card has no annual fee.
Aside from the reward program, cardholders can expect common benefits offered by Bank of America, N.A. (USA), such as various travel and emergency assistance services, purchase replacement, and auto rental insurance.
Therefore, those who plan to take advantage of the introductory offer, the reward program, and the various benefits may find the Power Rewards™ Visa® Platinum Card to be a suitable option.
Updated: May 30, 2006
Most Attractive Feature(s) : No yearly limit on points earned; no annual fee; reasonably low APR on purchases.
Least Attractive Feature(s) : Higher APR for less qualifying applicants; APR based on the highest Prime Rate during a three-month period.
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