Chase Platinum MasterCard Credit Card

Chase Platinum MasterCard Credit Card - Pros and Cons, Review

The Chase Platinum MasterCard®, issued by Chase, is designed for those who have very good credit and are looking for an overall good platinum card with a rewards program. Through the rewards program, cardholders earn one point for every dollar spent on purchases. Points may be redeemed for cash back, merchandise, travel, and gift cards. Points expire in five years, and there is a maximum of 60,000 points that may be earned per year. The credit card has a reasonable interest rate (for those who qualify), an attractive 0% introductory rate for up to 12 months on purchases and balance transfers, and no annual fee.

Those who plan to occasionally carry a large revolving balance may find doing so costly due to the “Two Cycles Average Daily Balance” method used by this credit card to determine finance charges, which ends up costing more to maintain an occasional balance as compared to the “Average Daily Balance” method used by many credit card issuers.

This platinum card does offer a variety of additional cardholder benefits that include travel accident insurance, auto rental insurance, and free online account access.

Therefore, those who have a very good credit history, want to participate in the rewards program, and plan to take advantage of the various additional services and benefits will find the Chase Platinum MasterCard® to be an ideal card.

It is important to note that the various interest rates that can be applied to an individual’s account may be confusing and should be fully understood before applying for the credit card.
Review Date: 10/4/2006

Most Attractive Feature(s): 0% introductory rate; no annual fee; access to free rewards program.
Least Attractive Feature(s): Uses “Two Cycles Average Daily Balance” method when determining finance charges.

Additional Perks
Various Internet account related services.
No liability for unauthorized transactions.
Lost and stolen card reporting.
Emergency cash replacement.
Emergency card replacement.
Various travel and emergency assistance services.
Travel accident insurance.
Purchase protection.
Extended warranty for purchases.
Auto rental insurance (MasterRental).
Year-end financial statement (upon request).
See website for additional benefits.
Certain restrictions, limitations, and exclusions apply.
If an account is opened, please refer to the Guide to Benefits for details.

Important Notations
The APR for purchases varies according to the applicant’s credit history and will be 5.99%, 9.99% or 14.99% + Prime Rate.
See website for complete terms and conditions of card usage and application disclosure.