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A rewards option for those climbing toward better credit.
30-second take
- Get this card if you have average credit and want a rewards program to help you build your score.
- Pick something else if you’re looking for better reward rates.
- Apply with a average credit score of 580 or higher.
| Product Name | ABOC Platinum Rewards Credit Card |
|---|---|
| Card Type | Mastercard |
| Annual Fee | $0 |
| APR (Annual Percentage Rate) for Purchases | 15.15% to 25.15% variable |
| Introductory Purchase APR | 0% for the first 12 months (then 15.15% to 25.15% variable) |
| Balance Transfer APR | 15.15% to 25.15% variable |
| Introductory Balance Transfer APR | 0% for the first 12 months (then 15.15% to 25.15% variable) |
| Balance Transfer Fee | $5 or 3% of the transaction, whichever is greater |
| Cash Advance Rate | 27.24% variable |
| Foreign Transaction Fee | 3% of the transaction value |
| Cash Advance Fee | $10 or 5% of the cash advance amount, whichever is greater |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $35 |
| Returned Payment Fee | Up to $25 |
| Minimum Age | 18 years of age |
|---|
| Welcome Offer | Earn $150 statement credit after you spend $1,200 on purchases within the first 90 days from account opening |
|---|---|
| Rewards | Earn 1x rewards points on all purchases and 5x points in quarterly rotating categories on up to $1,500 each quarter you activate, then 1x points |
| Base Rewards | 1x points |
The basics
ABOC Platinum Rewards Credit Card hits the right notes when it comes to its intended audience: those with average credit who want the perks of a rewards card.What makes this card especially handy is the intro APR period and lack of annual fee. Every dollar saved can add up when you’re building your credit, and these benefits alone can help you ease into your spending.
Ultimately, the card doesn’t have the greatest rewards rate or sign-up bonus, but it remains attainable for those without good credit. This makes for a runway to build your score and step up to other credit cards.
The perks
Fairly obtainable.
There aren’t many reward cards available for those without strong credit. The card only requires an average credit score, offering a chance to improve your credit while earning rewards.
No annual fee.
If you’re looking to build your credit score, having a card with no annual fee can be a great help. You can keep the card open and use it when necessary without feeling pressured to close your account.
Introductory APR.
Another trait that makes this card a great credit builder is the 0% introductory APR for purchases and balance transfers. You can build your credit without worrying about interest for 12 months following your account opening. After the intro period is up, your rate reverts to a variable 15.15% to 25.15% APR.
Rewards program.
While it’s not the most lucrative reward program out there, the ABOC Platinum Rewards card offers a steady 1x points on all eligible purchases. Plus, many credit cards for average credit offer no rewards program at all.
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Signup bonus.
You can earn a $150 statement credit after you spend $1,200 on purchases within the first 90 days of your account opening.
Extra points every quarter.
You can earn 5x rewards on up to $1,500 in select purchasing categories each quarter you activate. After you reach the spending cap, or if you don’t activate, you’ll earn 1x points on all purchases.
Late payments don’t raise APR.
If you happen to miss a payment, you won’t have to worry about a penalty APR.
Mastercard zero liability.
You won’t be held accountable for any unauthorized transactions performed on your credit card.
What to watch out for
Balance transfer limitations.
The introductory APR only applies to balance transfers made within 90 days of your account opening.
You’ll also pay a balance transfer fee equal to $5 or 3% of the transaction, whichever is greater.
Foreign transaction fees.
This card doesn’t waive foreign transaction fees, so it may not be the best option if you do a lot of traveling. If you do, you’ll be charged 3% of the transaction each time you swipe abroad.
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Compare similar cards for fair credit
Bottom line
Those looking to climb their way out of average credit may find the ABOC Platinum Rewards Credit Card to be quite forgiving. While a few comparable cards offer better reward rates, they also tend to have fees that can offset that advantage depending on your spending.
Compare other rewards credit card options to see if the ABOC Platinum Rewards Credit Card is the right fit for you.
