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Asiana Visa® Platinum

• 5,000 bonus miles with first purchase
• 1 mile for each dollar spent on net retail purchases
• 2 miles for every dollar spent on Asiana Airlines ticket purchases
• 2,000 miles each anniversary as a cardholder
• 90% annual discount on full fare business or first class companion ticket
• Card issued by FIA Card Services, NA.

Just The Facts --

Issuer : FIA Card Services, N.A. (Bank of America)

APR :  1.9% Introductory APR on purchases and cash advance checks for your first 6 billing cycles, 1.9% fixed rate on balance transfers

Introductory Period : 6 months

APR After Introductory Period : Prime rate plus 6.99%

Cash Advance Rate : 18.24%% variable rate on cash advances

Annual Fee : $80

Credit Line Possible : The minimum credit line offered is $500 and the maximum credit line offered is $25,000.

Insurance included :  Asiana Visa Platinum includes extended car rental and warranty coverage on services and purchases for up to a year.

Financing Configuration – Interest is calculated on your average daily balance (including new purchases).

Grace Period – You have twenty days after making a purchase during which you do not have to pay interest.

The Best Thing About It – You earn a one-mile per dollar spent no matter what you buy from any retailer and you can use the points on ten other airlines besides Asiana Visa Platinum. You also get 90% off a second companion ticket every year.

The Worst Thing About It – There is a high annual fee and you can’t carry a balance on the card without acquiring a great deal of debt.

Credit Rating Needed For Acceptance :  Good to Excellent.

Who Is It For?

The Asiana Visa Platinum credit card is  best suited for those who travel frequently on Asian airway and who would like to get big discounts on companion tickets. It is best suited for those who can pay a credit card bill in full each month.

 

The Benefits

You are gifted with 5,000 free points on your first purchase. Points can be redeemed for travel and certificates to major hotel chains, brand-name merchandise, and more.

You get double miles for fares booked on Asiana Airlines. Booking with Asiana gets you twice the air miles per dollar.

You get one mile for every dollar on retail purchases that you spend anywhere.  One dollar equals two points when you use the card to buy any item at any retailer.

You get 90% off of a companion ticket. Annually you will receive a $50 companion certificate good for two guests on the calendar anniversary of acquiring your Asiana Visa Platinum card.

You get 2000 points annually as a gift. On your calendar anniversary you also receive bonus points just for owning an Asiana Visa Platinum.

You can use the card for points by booking tickets at ten other airlines. Your points are not just limited to Asian Airlines

You get restaurant deals for points. You are sent offers where eating at selected restaurants will earn you as many as five miles per dollar spent using your Asiana Visa Platinum card.

There is no yearly limit for the points you can earn.  Accumulated miles do not expire as long the account remains active within a three-year period, and there is no yearly limit to the number of miles that may be earned

Asiana Visa Platinum comes with the Bank of America’s Purchase Replacement program. This feature provides for repair or replacement for covered purchases that are stolen, damaged or lost at a known location, within 90 days of the date of purchase.

Asiana Visa Platinum cardholders come first with the airline company. You have preferred seating and preferred boarding.

This credit card comes with the Bank of America’s Purchase Guard. This feature may double the manufacturer’s original U.S. warranty period for covered purchases with warranty duration of 1 year or less.

Zero Liability.  If you claim someone has stolen your card then you do not have to be liable for the usual $50 that is typically deducted as fraud liability.

No Over The Limit Fee:  There is no over the limit fee if you charge more than you intended.

 

The Drawbacks

 

The points have an annual cap. There is a limit of 100,000 points that can be accumulated on this card each year.

The 1.9 % introductory rate is not guaranteed. If you make a late payment on any bill, not just your credit card bill, your introductory 1.9% balance transfer rate can be replaced with the costly prime rate.

All payments you make will be applied to lower rate balances first. This makes it easy to get into debt.

Your points do expire. Accumulated miles do not expire as long the account remains active within a three-year period.

Asiana Visa Platinum introductory rate can be cancelled at the discretion of the Bank of America. You will lose your introductory rate if you exceed your credit limit or are late with a payment or if there is a negative comment on your credit report.

There are lots of hidden fees.  See the Fees to Watch Out For section below.  The fees charged for your every little financial transaction can really add up and make it seem like you are paying an annual fee anyway.

Fees To Watch Out For

Late payment fee:  $15 on balances up to $100; $29 on balances over $100 up to $250; $39 on balances over $250

Cash advance Fee: 3%, $10 minimum; 4%, $10 minimum, $90 maximum for cash advance checks

Balance Transfers: No fees on introductory balance transfers; 4%, $10 minimum, $90 maximum after the introductory period

 

To Summarize –

The interest rate for purchases and balance transfers on the Asiana Visa Platinum card is above average for a reward card and not ideal for those who plan to carry a balance. The annual fee is higher than usual for an airline reward card but the discount on one companion ticket a year may make it all worth it.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
1.9%	6 months	P + 6.99%	$80	Yes	Good Credit