The Volkswagen Platinum Rewards Visa Card, issued by First USA, is designed for those with very good credit who plan to take advantage of the reward program offered.
Through the reward program, cardholders earn one point for general purchases and two points for every dollar spent on purchases at participating Volkswagen locations. Points can be redeemed for Volkswagen related services or merchandise, gift certificates, travel, or cash. Cardholders also have the option to apply earned rewards as payment toward an automobile loan with Volkswagen credit. There is no maximum amount of points that can be accumulated per year; however, the points will expire in five years.
In addition to the reward program, the card offers a variety of platinum cardholder benefits provided by First USA, such as travel accident insurance, auto rental insurance, and no liability for unauthorized transactions.
The rate for purchases and balance transfers is reasonably low for a reward card. In addition, there is a 0% introductory offer that applies to purchases and balance transfers for the first six months.
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 plan to take advantage of the introductory offer, the reward program, and the various benefits offered may find the Volkswagen Platinum Rewards Visa® Card to be a suitable option.
Most Attractive Feature(s):
No annual fee; reward program offered; common platinum benefits.
Least Attractive Feature(s):
Uses "Two Cycles Average Daily Balance" method when determining finance charges.
Additional Perks
Various Internet account related services.
Travel accident insurance.
Auto rental insurance.
Emergency card replacement.
Emergency cash replacement.
Lost and stolen card reporting.
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 5.99%, 9.99% or 14.99% + Prime Rate. See website for complete terms and conditions of card usage and application disclosure.
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