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Amalgamated Bank of Chicago Platinum Rewards Mastercard® review

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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.

$150

Welcome offer

$0

Annual fee

0%

Intro purchase APR

for the first 12 months (then 14.4% to 24.4% variable)

0%

Intro balance transfer

for the first 18 months (then 14.4% to 24.4% variable)

Details

Product NameAmalgamated Bank of Chicago Platinum Rewards Mastercard®
Card typeMastercard
Annual fee$0
Purchase APR0% intro for the first 12 months (then 14.4% to 24.4% variable)
Balance transfer APR0% 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 rate26.49% variable
Cash advance fee$10 or 5% of the cash advance amount, whichever is greater
Foreign transaction feeNone
Interest free periodUp to 25 days
Late payment feeUp to $35
Returned payment feeUp to $25

Expert review

Megan Horner

Review by


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.

Expert review

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.

The perks

  • No annual fee.

    You can keep the card open and use it when necessary without feeling pressured to close your account.

  • Introductory APR.

    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.

  • Rewards program.

    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

QuartersJanuary–March 2020April–June 2020July–September 2020October–December 2020
5x categoryMonthly billsDining and transportationTravelDepartment stores
ExampleQualifying utilities, cell phone, cable, Amazon Prime and streaming subscription servicesGroceries, bakeries, fast food, gas, tolls and mass transitAirfare, cruises, car rental, hotels, gas and ride sharesDepartment stores, electronic stores, Target, Walmart and Amazon.com

You’ll also like …

  • 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.

  • 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.

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Bottom line

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.

Frequently asked questions

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4 Comments

  1. Default Gravatar
    Amir
    November 24, 2019

    if I apply for this credit card, will it affect my credit score?

    • Avatarfinder Customer Care
      Joshua
      November 24, 2019

      Hi Amir,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      That’s an interesting question, Amir. The answer is possibly yes. For this card, your credit score will be checked and when this happens, the provider dives into your credit report to see if you’d be a good candidate. This process is often called a “hard pull” on your credit report. A small portion of your credit score is affected by how recently you’ve applied for a credit card.

      Please note that each hard pull on your credit report will knock off a few points from your score. thankfully, this dip is temporary, usually disappearing in about six months. However, multiple inquiries into your personal credit within a short period of time can quickly add up and become greatly affect your score. That’s why it is advisable you don’t do multiple card applications in a short period.

      To increase your chance of getting approved, please make sure to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    Bill
    March 28, 2019

    What are my chances of acceptance for a ABOC credit card? Equifax = 711; Transunion = 689, and Experian=638. Had Chapt. 7 on 5/17/17. I have never been late on a bill or payment. Thank you for your advice.

    • Avatarfinder Customer Care
      johnbasanes
      March 29, 2019

      Hi Bill,

      Thank you for reaching out to Finder.

      Though we could not provide a specific advise towards your question on your chances of being approved for this card, the credit score you have does meet the required range to apply for this. You may click on the “Apply now” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

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