The Volkswagen Platinum Rewards Visa Card is a rewards card issued by First USA with a unique rewards program. This card is ideal for those interested in Volkswagen automobiles and merchandise, and is released in conjunction with Volkswagen to provide special services to those members. This card is best suited for those who have very good to excellent credit, as they will receive the lowest finance charges and highest credit limits.
This credit card offers an introductory APR of 0% for purchases and balance transfers during the first six months. After that, the variable APR kicks in and remains relatively low for cards of this standing, as long as the cardholder has a good credit score. There are 3 possible ranges of APR percentages available, so those with lower credit scores may be accepted for this card, but will receive higher finance charges and may want to look elsewhere for a card geared more towards their particular credit standing. Also, it is important to note that this card functions on a “Two Cycles Average Daily Balance” method of calculating finance charges, which amounts to a higher charge for those who carry an occasional balance from month to month. Not all cards operate on this schedule- many operate with a single Average Daily Balance method of calculation- and those who plan on carrying a balance may want to look for one of those cards to avoid high finance charges.
The rewards program for the Volkswagen Platinum Rewards Visa card is geared towards Volkswagen owners and aficionados. Cardholders earn one point per dollar spent on general purchases, and two points per dollar spent on purchases at participating Volkswagen locations. There is no maximum of points that can be accumulated per year, but points do expire if not used after 5 years. Points may be redeemed for Volkswagen related services or merchandise at participating locations, or for gift certificates, travel, or cash. Most significantly, members may also use reward points as payment towards an automobile loan with Volkswagen credit. This is a unique benefit not offered by other rewards cards, and may tip the balance for those choosing between this card and another at the same level.
Because this is a platinum credit card, it also comes with standard platinum member benefits, including travel and medical services, rental car insurance, extended warranties on certain products purchased, zero liability for unauthorized charges, and more. This card has no annual fee.
For those with very good credit scores, who do not plan on carrying a balance, and most importantly for those interested in the Volkswagen redemption plan for rewards points, this card offers a unique choice and a chance to put purchases to work in a whole new way. Although the benefits of the card for those interested in Volkswagen products are multiple, the higher finance charges and penalties for low credit must be taken into consideration before the decision is made on whether or not this card is worth the investment.
