The Chase Platinum Visa card is essentially a platinum card with an
ideal rewards program. In this sense, users with very good credit
ratings should get this card and make good use of its one-year 0%
introductory APR benefit on both balance transfers and purchases.
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Once the promotion period is over, the APR for purchases varies
with the user's credit rating, ranging from as low as 6% to as high
as 15%, in accordance to the Prime Rate. However, the regular rate
is advertised as 13.75%. As for the APR for cash advances, it is
the norm for the rates of platinum to be higher, which is why the
APR for the Chase Platinum Visa Card is at a whopping 23.75%.
Credit card exchange rates are based on the Visa and MasterCard wholesale rates, with a loading percentage usually added by the card issuers.
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On the flip side, there are no annual fees or registration fees
required for this card on top of a flexible rewards program. The
Chase Platinum Visa rewards program allows card users to collect
points for every dollar users charge to their purchases. These
points can then by used to redeem merchandise, gift cards,
traveling tickets or even to get some cash back. Ideally, these
points should be redeemed within a period of five years before they
expire. Apart from that, there is also a limit as to the number of
points that can be collected each year, with the maximum of 60,000
points.
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Also, the Chase Platinum Visa card utilizes a two cycle average
daily balance billing method that should be avoided by those who
tend to carry monthly balances. Rather than charging the interest
rate based on the monthly outstanding balance, the system averages
out the balances of the previous month with balances of the current
month. With this, interests payable will be higher as compared to
the average daily balance system of interest tabulation.
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Finally, the Chase Platinum Visa card also comes with a shorter
grace period of 20 days and a barrage of fees for cash advances,
balance transfers, surpassed limits and late payments. A fee of $15
is chargeable for balances amounting to less than $250 and a $39
fee for balances more than $250.
Your credit profile is very important in determining whether or not an application for credit is accepted or declined. There are two methods below that can help you and our Guide (at the top of this page) provides a further insight into credit scoring. Understand your credit rating and help improve your ability to get credit with your Equifax Credit Rating.
Credit Score Rating Scale For more information or to apply for the
Chase Platinum Visa, Eric Wasselman
recommends Find Credit Cards.
If you obtain your funds (or make a purchase) in a currency other than the currency in which your Card was issued, the amount deducted from your funds will be converted by Visa into an amount in the currency of your Card. Visa will establish a currency conversion rate for this convenience using a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date which may vary from the rate Visa itself receives, mandated rate in effect for the applicable central processing date, in each instance, plus or minus any adjustment determined by the Issuer.
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