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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 an average or good credit score of 670 or higher.
$150
Welcome offer
$0
Annual fee
0%
Intro Purchase APR
for the first 12 months (then 15.15% to 25.15% variable)
0%
Intro Balance Transfer
for the first 12 months (then 15.15% to 25.15% variable)
Details
| Product Name | Amalgamated Bank of Chicago Platinum Rewards Mastercard® |
|---|---|
| Card type | Mastercard |
| Annual fee | $0 |
| Purchase APR | 0% intro for the first 12 months (then 15.15% to 25.15% variable) |
| Balance transfer APR | 0% intro 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 |
| 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 |
The basics
The Amalgamated Bank of Chicago Platinum Rewards Mastercard® hits the right notes when it comes to its intended audience: Those on the lower end of good credit who want the perks of a rewards card.
What makes this card especially handy is the intro APR period and lack of an 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.
The card doesn’t have the greatest rewards rate or signup bonus, but it remains attainable for those without excellent credit. This provides a runway for you to build your score and step up to other credit cards.
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 for purchases and balance transfers. You won’t have to worry about interest on purchases or transfers 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 Amalgamated Bank of Chicago Platinum Rewards Mastercard® offers a steady 1x points on all eligible purchases.
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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 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.