Chase Platinum Credit Card Reviewed (Good Credit Required)

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	Special Offer: 0% for 12 months and is applied to Purchases, Balance Transfers. APR (Purch): 10.99% Variable* Annual Fee: $0 Category: Regular

The Chase Platinum Visa®/MasterCard®, issued by Chase, is designed for those who have very good credit and are looking for an overall good platinum card.

The credit card has a reasonably low interest rate, an attractive 0% introductory rate, and no annual fee. Individuals who have a banking account relationship with Chase will also be able to take advantage of a lower APR (1% less than those who do not). Nevertheless, the card does have a high APR for cash advances and there is a minimum cap applied to the APR.

This platinum card also offers a variety of additional cardholder benefits that include up to $500,000 in travel accident insurance, auto rental discounts, auto rental insurance, and a year-end financial summary of cardholder transactions.

In addition to the common cardholder benefits, there are two optional reward programs to choose from (cardholders can only have one or the other per card account). The Chase Travel Rewards program has an additional annual fee of $25 (waived the first year of membership). Through this program, cardholders earn one point per every dollar spent on general purchases. A maximum of 80,000 points may be earned per year and earned points expire in five years.

The other reward program, referred to as the Chase Ultimate Rewards program, also has an additional annual fee of $25 (waived the first year of membership). Through this program, cardholders earn one point per every dollar spent on general purchases. The maximum number of points that may be earned in a billing period must not exceed the cardholder's credit limit and points expire in 3 years.

The platinum card is ideal for individuals who have a very good credit history, have a banking account relationship with Chase (to take advantage of the lower rate), and plan to take advantage of the various additional services and benefits (such as one of the optional reward programs) provided by the Chase Platinum Visa®/MasterCard®.

It is important to note that the various interest rates that can be applied to an individual's account may be confusing at first glance (in the Terms and Conditions' section) and should be fully understood before applying for the credit card.
Review Date: 6/30/2005

Most Attractive Feature(s): Various card benefits and services; access to various reward programs; no annual fee.
Least Attractive Feature(s): Confusing method of applying APRs for those unfamiliar with the cardholder policy; APR for cash advances has a minimum cap; uses "Two Cycles Average Daily Balance" method when determining finance charges.

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