CreditMe.com

Money Return® Visa® Platinum Plus®

• Get back 10% of your yearly interest charges
• 0% Intro Annual Percentage Rate (APR) on purchases and balance transfers for the first 6 billing cycles.
• No annual fee
• 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 : 14.24% variable

Cash Advance Rate : 14.24% variable rate on cash advance checks during the introductory period. The variable rate for ATM cash advance and bank is :  24.24%

Annual Fee : $0

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

Insurance included : The Money Return Visa Platinum Plus 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 Money Return Visa Platinum Plus during which you do not have to pay interest.

The Best Thing About It – It offers an online banking service.

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

Credit Rating Needed For Acceptance : Good credit.

Who Is It For?

Money Return Visa Platinum Plus does not have too many bells and whistles. It suits a user that is looking for a zero percent introductory rate and common platinum card benefits.

Benefits

There is no annual fee for additional cards. Duplicate cards are free.

You can pay your bills online. Online access to your Money Return Visa Platinum Plus 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 Money Return Visa Platinum Plus then you do not have to be liable for the usual $50 that is typically deducted as fraud liability.

 

The Drawbacks

There is no rewards program. This is not a card that goes to work for you in any way, which makes it a very “straight” credit card.

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

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.

Over The Limit Fee:  $15 if $500 or less; $29 if between $500.01 and $1000; $39 if over $1000.

Balance Transfers: 3%, $10 minimum.

To Summarize –

The Money Return Visa Platinum Plus offers no rewards program; only Cardholders have access to a variety of 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	14.24%	$0	Yes	Good Credit