The Chase Flexible Rewards Platinum Visa card is a cash back awards credit card issued by Chase. It is designed for those with very good credit history who are interested in a cash back program that awards general purchases. This card also offers standard platinum credit card benefits.
The cash back reward program awards members with one point for every dollar spent on general purchases. Accumulated points can be redeemed for your choice of four types of awards: gift certificates; brand name merchandise from participating retailers; travel awards including airline tickets, hotel stays, and car rentals; or cash. Points are good for up to five years before they expire. No more than 60,000 points may be earned in one year, or more than 5,000 per month. Members will receive 1,000 bonus points with their first qualifying purchase. 3,500 points are equal to a $25 cash reward.
This card offers members a 0% introductory APR on purchases and balance transfers for the first twelve months, which is a definite advantage. Many other comparable awards cards offer this introductory rate for only six months. After the first year, the APR is variable, with the APR for purchases and cash advances based on the Prime Rate. This means the APR may never reach its lowest point; however, the rates offered by this card are still relatively low in comparison to other similar cards. Credit limit is based on the applicant's credit history, with a maximum limit of $100,000. This card has no annual fee, which is rather unusual for a card of this caliber and a definite advantage. There is a 20 day grace period on new purchases.
Applicants should take note of the fact that finance charges on this card are accumulated using the Two Cycles Average Daily Balance method, which results in higher finance charges if a member carries balances over from month to month. Cardholders should attempt to pay their balance due each month to avoid charges which could mount rather quickly.
A number of platinum member benefits are available with the Chase Flexible Rewards Platinum Visa, including up to $1,000,000 in travel accident insurance, emergency cash and card replacement, zero liability for unauthorized transactions, extended warranties on various purchases, car rental insurance, and much more. The wide array of platinum benefits offered give this card an advantage over comparable credit cards, who offer platinum member benefits, but not to this same extent.
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