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HSBC Bank Nevada, N.A. »
Credit Card Reviews » American DreamCard™ Platinum MasterCard® |
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In-Depth Credit Card Review: |
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The American DreamCard™ Platinum MasterCard®, issued by HSBC Bank Nevada, N.A., is an ideal credit card for those with very good credit who are looking for an average platinum card with a monthly cash sweepstakes program.
Through the American DreamCard™ Sweepstakes program, one entry is awarded for each dollar spent in purchases, cash advances, and balance transfers. Cardholders also receive 1,000 sweepstakes entries just for applying. Each month, one winner will be selected for a cash prize of up to .50% of the total amount of net dollars spent by the participating American DreamCard™ cardholders during the corresponding drawing period, starting at $25,000.
The card has no annual fee, and a reasonably low interest rate on purchases after the introductory rate expires. It is important to note that the APRs for all transactions are tied to the highest Prime Rate during a three-month period. Therefore, due to this policy, the lowest possible interest rates may not be reached.
Aside from the sweepstakes program, the card does not offer any common benefits that are associated with most platinum status credit cards.
Therefore, those who qualify for the lowest rate offered and will take advantage of the American DreamCard™ Sweepstakes will benefit most from what the American DreamCard™ Platinum MasterCard® has to offer.
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| (Review Updated: December 28, 2007) |
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n/a Intro APR on Purchases, Balance Transfers for n/a
14.99% Regular Variable APR for Purchases
29.99% Regular Variable APR for Cash Advances |
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20 Days (Min.) Grace Period |
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| Finance Configuration: Average Daily Balance (including new purchases) |
| Additional Cardholders: $0 |
| Late Payment Fee: $39 |
| Over-The-Limit Fee: $39 |
| Cash Advance Fee: $5 for each cash advance of $100 or less from any Automated Teller Machine (ATM), or convenience check; for all other cash advances transactions, $15 or 4%, whichever is higher. |
| Balance Transfer Fee: 3%, $75 maximum |
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| Minimum Credit Limit: n/a |
| Maximum Credit Limit: $25,000 |
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| Type of Reward: None |
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| Additional Features for American DreamCard™ Platinum MasterCard®: |
Access to AccountCentral®, the online account servicing platform (earn 100 entries for enrolling).
Access to online payment of the American DreamCard™ bill (earn 100 entries each time the bill is paid online).
Access to Account Protection Plus(SM) for an additional fee.
Access to the Account Benefit Plan(SM) for an additional fee.
See website for additional benefits. |
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| Important Notes for American DreamCard™ Platinum MasterCard®: |
The APR is based on the highest Prime Rate during a 90-day period.
The minimum APR for purchases is 14.99%.
The minimum APR for cash advances is 29.99%.
The APR for purchases varies according to the applicant's credit history and will be 7.24% or 14.24% + Prime Rate.
The APR for cash advances varies according to the applicant's credit history and will be 22.24% + Prime Rate.
See website for additional APR information.
See website for complete terms and conditions of card usage and application disclosure. |
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| Notes: The review on American DreamCard™ Platinum MasterCard® was updated on December 28, 2007. The review is believed to be accurate during the update, however, information posted may have changed since the update.
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