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Bank of America Platinum Plus® Visa® Card

• 0% Intro Annual Percentage Rate (APR)† on purchases and balance transfers for the first 6 months.
• No annual fee
• Credit lines as high as $25,000
• Online Banking Service
• Total Security Protection®
• Card issued by FIA Card Services, N.A.

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

Introductory APR : 0% Intro Annual Percentage Rate (APR) on purchases and balance transfers for the first six billing cycles 

Introductory Period :  Six billing cycles (six months)

APR After Introductory Period : 11.24% variable

Cash Advance Rate : 19.99%% variable rate on cash advances

Annual Fee : $0

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

Insurance included : The Bank of America Platinum Plus Visa Card comes with 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 with your Bank of America Platinum Plus Visa Card during which you do not have to pay interest.

The Best Thing About It – It offers an online banking service and the APR is more reasonable then on most cards that offer a 0% introductory rate.

The Worst Thing About It – The interest on cash advances is high and there is no rewards program.

Credit Rating Needed For Acceptance : Excellent credit.

Who Is It For?

The Bank of America Platinum Plus does not have too many fancy extras. It suits a user with excellent credit that is looking for a zero percent introductory rate and common platinum card benefits.

Benefits

There is no annual fee for additional Bank of America Platinum Plus Visa cards. Duplicate cards are free.

You can pay your bills online. Online access to your account is available.

The card 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.

The 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 Bank of America Platinum Plus Visa Card then you do not have to be liable for the usual $50 that is typically deducted as fraud liability.

The Drawbacks

There is no offered rewards program. This is not a card that goes to work for you with cashback or points of any kind.

All payments you make to your Bank of America Platinum Plus Visa Card will be applied to lower rate balances first. This makes it easy to get into debt.

 

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

Over The Limit Fee:  Based on your balance as of the day the fee is assessed - $15 if $500 or less; $29 if between $500.01 and $1000; $39 if over $1000.

Balance Transfers: 3%, $10 minimum

To Summarize –

The Bank of America Platinum Plus Visa Card does not offer any rewards program/ Cardholders have access to a variety of common platinum benefits such as automatic auto rental insurance, various travel and emergency assistance services, purchase protection, and various security features.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0%	6 months	11.24%	$0	Yes	Excellent Credit