Amalgamated Bank of Chicago Platinum Rewards Mastercard® review
A rewards option for those climbing toward better credit.
- Get this card if you’re looking for an intro APR on purchases and balance transfers.
- Pick something else if you’re looking for better reward rates.
- Apply with a good to excellent credit score of 670 or higher.
Intro purchase APR
for the first 12 months (then 14.4% to 24.4% variable)
Intro balance transfer
for the first 18 months (then 14.4% to 24.4% variable)
|Product Name||Amalgamated Bank of Chicago Platinum Rewards Mastercard®|
|Purchase APR||0% intro for the first 12 months (then 14.4% to 24.4% variable)|
|Balance transfer APR||0% intro for the first 18 months (then 14.4% to 24.4% variable)|
|Balance transfer fee||$5 or 3% of the transaction, whichever is greater|
|Cash advance rate||26.49% variable|
|Cash advance fee||$10 or 5% of the cash advance amount, whichever is greater|
|Foreign transaction fee||None|
|Interest free period||Up to 25 days|
|Late payment fee||Up to $35|
|Returned payment fee||Up to $25|
Megan Horner is the credit cards publisher at finder.com. She's passionate about helping you find the best credit cards to meet your financial needs — whether that's earning great rewards or improving your credit score. Previously, she edited and published educational articles on credit cards as an assigning editor at Credit Karma.
With no annual fee, a $150 signup bonus, 1x points on all purchases and an intro APR period on purchases and balance transfers, the Amalgamated Bank of Chicago Platinum Rewards Mastercard® offers consumers an accessible credit card with decent rewards.
What makes this card especially handy is it has no annual fee and comes with an intro APR period. Every dollar saved can add up when you’re building your credit, and these benefits alone can help you ease into your spending.
No annual fee.
You can keep the card open and use it when necessary without feeling pressured to close your account.
Enjoy a 0% introductory APR on purchases for the first 12 months and balance transfers for the first 18 months following your account opening. After the intro periods are up, your rates revert to a variable 14.4% to 24.4% APR.
Earn 5x points 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. The 1x points rate also applies on everything else you buy.
2020 calendar for quarterly rotating categories
|Quarters||January–March 2020||April–June 2020||July–September 2020||October–December 2020|
|5x category||Monthly bills||Dining and transportation||Travel||Department stores|
|Example||Qualifying utilities, cell phone, cable, Amazon Prime and streaming subscription services||Groceries, bakeries, fast food, gas, tolls and mass transit||Airfare, cruises, car rental, hotels, gas and ride shares||Department stores, electronic stores, Target, Walmart and Amazon.com|
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You can earn a $150 statement credit after you spend $1,200 on purchases within the first 90 days of your account opening.
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 0% of the transaction each time you swipe abroad.
Compare similar rewards cards
Those looking to earn rewards on everyday spending may find the Amalgamated Bank of Chicago Platinum Rewards Mastercard® to be quite valuable. 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 Amalgamated Bank of Chicago Platinum Rewards Mastercard® is the right fit for you.