ABOC Platinum Rewards MasterCard Usage Guide & Credit Card Review

ABOC Platinum Rewards MasterCard Usage Guide & Credit Card Review.

ABOC Platinum Rewards MasterCard: If you’re in the market for a rewards credit card or 0 percent intro APR credit card, you may have missed the ABOC Platinum Rewards Mastercard ® however, It has plenty of perks to offer.

ABOC Platinum Rewards MasterCard

The ABOC Platinum Rewards Credit Card is a MasterCard from the Amalgamated Bank of Chicago. It offers reward points for statement credits, gift cards, luggage, airline miles or a mix of those options that can be redeemed.

Cardholders in rotating categories earn 5X ABOC Bonus Points on up to $1,500 in cumulative transactions per quarter. You’ll receive 1X ABOC Bonus Point per dollar for all other purchases. The value of each point can vary according to how you redeem it.

There is no annual charge for this card, and no international transaction fees. Even better is that you don’t even need to apply for stellar credit.

ABOC Platinum Rewards MasterCard® Features

  • Credit Score Range is 700 – 850
  • 0% Intro APR for 12 months from account opening on purchases. After that, your APR will be 12.90% to 22.90% based on your creditworthiness. This APRs will vary based on the Prime Rate.
  • Earn a $150 statement credit after you spend $1,200 on purchases within the first 90 days from account opening.
  • No Annual Fee
  • Unlimited Rewards Points that don’t expire
  • Earn Rewards Points on every purchase, every time. It’s simple. $1 purchases = 1 Rewards Point
  • Mastercard Zero Liability
  • No Annual Fee
  • No foreign transaction fees
  • Enjoy the benefits of a Mastercard credit card, including zero liability for unauthorized purchases, extended warranty, 60-day price protection, and more! For complete information, refer to the Mastercard Guide to Benefits.
  • Earn 5x rewards on up to $1,500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive

Who Is This Card For?

ABOC Mastercard’s for those who want to keep track of rotating categories of spending to maximize their credit card rewards. Without activation, each quarter of the category or categories eligible for cashback rewards of 5 percent, the card earns a meager 1 percent cashback.

This card may also appeal to those who want to take advantage of the 0 percent APR offer. Offer is for first-year card membership.

ABOC Platinum Rewards Credit Card Pros and Cons:

The Good

  • Lower than average purchase APRs.
  • 0% APR on new purchases during the first 12 months.
  • No annual fee.
  • Multiple credit card perks.
  • Extended warranty and price protection on purchases.
  • Cardholders can earn rewards on every purchase.
  • Earn rewards on every purchase.
  • ABOC Platinum Rewards Credit Card reports to multiple credit bureaus.
  • Cardholders can earn rewards on their purchases.

The Bad

  • Minimum cash advance fee of $10.
  • It requires good to excellent credit.
  • Charges a 3% balance transfer fee.

ABOC Platinum Rewards Mastercard One-Time Offer

ABOC Platinum Rewards Mastercard One-Time Offer

The card offers a $150 statement credit after you spend $1,200 in the first 90 days. While the bonus represents a strong 12.5% return on your spending, some other cards require you to spend just $500 for the same incentive.

Rewards Earning Details

The card offers 5 points per dollar on up to $1,500 spent each quarter in rotating categories. For 2020, those categories include:

  • January–March: Qualifying utilities, cell, cable, Amazon Prime, and streaming subscription services purchases.
  • April–June: Grocery, restaurants, and transportation purchases.
  • July–September: Qualifying airline, cruise, car rental, hotel, travel agency purchases, gas, tolls, and rideshare purchases.
  • October–December: Qualifying department and electronics stores, superstores, Amazon.com, and other major online retailers.

You’ll earn 1 point per dollar on all other purchases you make with the card.

ABOC Rewards Program

Amalgamated Bank of Chicago proudly offers its credit cardholders the ABOC Rewards Card – a straightforward rewards program that is free to join and offers rewards everywhere you use your card. You’ll earn 1 ABOC Rewards Point for every $1 you spend on purchases wherever MasterCard is accepted; use it for all of your everyday purchases and you’ll be amazed how quickly the points add up!

Key Program Benefits:

  • New cardmembers automatically begin earning rewards from their first purchase!
  • The quick and easy registration gives you access to the ABOC Rewards website, where you can view your balance, redemption options, and travel opportunities
  • Every $1 in purchases = 1 ABOC Rewards Point
  • Easy redemption online or by calling 1-800-927-0100
  • Choose your rewards: statement credits, airline miles, merchandise, gift cards, or even a combination of rewards types!
  • No cap on the number of rewards you can earn and points never expire as long as your account is open and in good standing. (If you close your account, you will lose your rewards points.)
  • Rewards are earned on every purchase made on the Card
  • Earn 5x rewards on up to $1,500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive.
  • Get extra points by shopping with ABOC Rewards partners via abocrewards.com
  • Online account access 24 hours per day, 7 days per week
  • You can even gift points to other ABOC Rewards members!

If you do not yet have a card with ABOC, click here to apply, and if approved you’ll receive a $150 statement credit after spending $1,200 in the first 90 days of account opening!

Rewards Redemption Details

The card offers a handful of redemption options, but the value you get from your points can vary based on how you use them. According to online reports, here’s what to expect:

  • Travel: Up to 1 cent per point
  • Gift cards: Up to 0.93 cents per point
  • Statement credit: 0.75 cents per point
  • Merchandise: 0.75 cents per point

It’s pretty standard of having less than 1 cent per point on goods for most rewards programs. But with statement credits (and other types of cashback), gift cards, and travel, it’s common for most major rewards programs to get at least 1 cent per point.

Keep that in mind when you decide how much interest the card will carry. For example, if you are in it for the cost of 5X incentives and want cashback, your effective rate of incentives with statement credits is only 3.75 per cent.

Suggested Credit Score

This card is best for people with a fair to good credit rating. According to FICO, that translates into a score of 580 or better. This makes the card much easier to qualify especially if you have a lower credit score. Worth noting: Approval depends on a combination of other factors, including your income level and other aspects of your credit report.

Bottom Line

Bottom Line

If you are searching for a general rewards credit card, the ABOC Platinum Rewards Mastercard provides an initial $150 statement credit after spending $1,200 on transactions within 90 days of account opening and 5x rewards of up to $1,500 per quarter in combined transactions.

Plus the fact that for the first 12 months they now give 0 percent interest on all of your new purchases makes this card super enticing.

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