Platinum MasterCard® Review

0% Intro APR for up to 12 months.
No Annual Fee.
Free Online Account Access.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0%*	12 months*	10.99%*	None.*	3%*	excellent / good*

This is a credit card account that is somewhat elite in its guidelines; these cards are only given out to customers who have the best credit ratings and who have the income to support a large credit limit. If you do not meet these basic criteria then you will not be considered for a Chase Platinum MasterCard, and if you do then you will have access to a large credit account that can be put to work for you. There are no annual fees on this credit card, however there are other standard related fees that you must become familiar with before using the account: late fees, overlimit spending fees, cash advance fees and APR and balance transfer fees. Late fees are calculated according to the amount you owe: for anything up to $100 the fee is $15; for anything between $100 and $250 you will be charged $29, and anything more than that will cost you $39. If you spend more than you have been allocated in credit you will be charged a flat fee of $39.

Cash advances on this card are more expensive than most because of the minimum payment of $10; technically each cash advance will cost you 3% of the amount taken out. Cash advances are charged APR at 20.99%. If you spend in a foreign currency, the conversion fee is 3% of the amount once it has been converted to American dollars. If you wish to make a balance transfer from one or more of your existing credit card accounts to this one, there is a 3% transfer fee for each transaction. There is a minimum payment of $5 and a maximum payment of $75. After a six month no-APR grace period on balance transfers, the balance is subject to standard purchase APR. The standard purchase APR for this credit card is dependent on your credit history. You may be offered a rate of 10.99%, 14.99% or 19.99% variable, however if you fail to make payments on time each month this introductory offer will shoot up to the default APR of up to 28.99% variable.

You will also stand to lose the introductory twenty day no-purchase-APR grace period. One of the best features of this card is its size and the flexibility this will give you in spending. If you receive the lower APR this is certainly an account that can work well for you; if you get the higher interest rates then it might not be wise to spend too much money on the account.