ABOC Platinum Rewards Mastercard® review

ABOC Platinum Rewards Mastercard®

Rewards rate

1X–5X

Credit score

Earn 5x rewards on up to $1,500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive Earn Points on Every Purchase! It’s simple: $1 = 1 Point

Annual fee

$0

Intro offer

$150

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Earn $150 Statement Credit after you spend $1,200 on purchases within the first 90 days from account opening

Regular APR

12.90% - 22.90% Variable APR on purchases and balance transfers

Recommended Credit Score

Excellent  (740 - 850)

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A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

ABOC Platinum Rewards Mastercard® overview

The ABOC Platinum Rewards Mastercard® from the Amalgamated Bank of Chicago provides a variety of rewards with a straightforward structure: 5X rewards points (up to $1,500 in combined purchases each quarter) in popular categories that rotate each quarter and 1X points on all other purchases.

You can apply points toward airline miles, statement credit, merchandise, gift cards or a combination of these. The card features other perks, like no foreign transaction fees, an extended warranty and a 60-day price protection.

A deeper look into the current card offer

Quick highlights

• Rewards rate: 5X rewards points (up to $1,500 in combined purchases each quarter) in popular categories such as dining, groceries, travel and automotive categories; 1X points on all other purchases
• Welcome offer: Get a $150 statement credit after making $1,200 worth of transactions within the first 90 days
• Annual fee: $0
• Purchase intro APR: 0 percent for 12 months from the account opening
• Balance transfer intro APR: N/A
• Regular APR: 12.90 percent to 22.90 percent (variable)

Current welcome offer

The current welcome offer for the ABOC credit card is a $150 statement credit after making $1,200 in transactions within the first 90 days. The spending threshold is fairly low, so you can earn cash back for everyday transactions.

Rewards

Every transaction with the ABOC Platinum Rewards Mastercard makes progress toward earning points you can redeem for various rewards.

Earning rewards

Cardholders can benefit from rotating bonus categories, such as dining and transportation, travel and department stores, that earn you 5X points each quarter on up to $1,500 in combined purchases. You’ll also earn 1X points on purchases that fall outside of those categories.

To boost the value of your points, you can shop through the ABOC Get Extra Points website. Points never expire as long as your account is open and in good standing.

Redeeming rewards

To redeem your rewards points, you can use the ABOC Rewards website or call 1-800-927-0100. You can also gift your points to other ABOC Rewards members if you’re feeling generous.

Other cardholder perks

Since the ABOC credit card provides rewards points with every purchase and doesn’t require an annual fee, there’s not much to lose by using this card. You can apply points toward any type of reward and can earn a nice statement credit for meeting the spending requirement in the first 90 days.

Travel benefits

This card has no foreign transaction fees, making it great to take on your next trip.

0 percent intro APR

Get a 0 percent introductory APR for 12 month on purchases. After that, the APR will be a variable 12.90 percent to 22.90 percent based on your creditworthiness.

Purchase benefits

Get an extended warranty on your purchases with the ABOC credit card. You also get 60-day price drop protection, where you may be able to get reimbursement for price differences you find for items that were purchased with the card.

Digital wallet access

It’s easy to use your ABOC Mastercard anywhere thanks to the digital wallet option. It works with Mastercard Click to Pay, a program that facilitates your online purchases. And if you’re shopping in person, you’ll benefit from contactless payments.

Rates and fees

This card has no annual fee and no foreign transaction fees. There is a 0 percent introductory purchase APR period for 12 months. After that, the APR is a variable rate of 12.90 percent to 22.9 percent based on your creditworthiness.

Cash advances require a fee of $10 or 5 percent of each advance, whichever’s greater. You’ll also have a balance transfer fee of $5 or 3 percent of each balance transfer, whichever’s greater.

Penalty fees are up to $35 for late payments and up to $25 for returned payments.

How the ABOC Platinum Rewards Mastercard compares to other rewards cards

When you’re considering the best intro APR interest credit cards or credit cards that have no annual fee, you have some other options that may be a better fit. Two to consider are the Citi Rewards+® Card and the Chase Freedom Unlimited®. Both cards have no annual fee and introductory APRs on purchases.

With the Citi Rewards+ Card, you can earn two points at gas stations and supermarkets up to $6,000 in purchases per year, then 1 percent. You’ll also earn 10 percent of your points back on the first 100,000 points redeemed every year.

The Chase Freedom Unlimited card offers strictly cash back rewards, with 5 percent back on travel purchased through Chase Ultimate Rewards, 3 percent on drugstores and dining and 1.5 percent back on all other purchases. For both of these cards, the cash back rewards may be worth more depending on your spending habits compared to the ABOC Platinum Rewards Mastercard.

The one downside to both these alternative rewards credit cards is they charge a foreign transaction fee of 3 percent per transaction once converted to U.S. dollars. If you want a rewards card with no foreign transaction fees, you may be better off with the ABOC credit card.

Best cards to pair the ABOC Platinum Rewards Mastercard with

You may want to pair the ABOC Platinum Rewards Mastercard with a few other rewards cards so you can maximize your rewards based on spending in travel, dining and other categories. With other cards that offer rotating bonus categories, you can use the appropriate card based on maximized earning potential.

Bankrate’s Take—Is the ABOC Platinum Rewards Mastercard worth it?

If you’re an Amalgamated Bank of Chicago fan and want to have a credit card from that bank, the ABOC Platinum Rewards Mastercard is a nice choice. Just pay attention to the rotating categories and make purchases on the ABOC website when possible to earn extra points.

Otherwise, research other rewards credit cards to find the best one that will reward your spending habits. You can always use several to maximize points in various categories.

Pros and cons