Credit Card Review: Chase Platinum MasterCard®

#1 Online Credit Card Consulting

Apply for a credit card | Credit card education | Credit card blog

In-Depth Credit Card Review:

Getting the most out of your rewards card is all about flexibility. You need a card that not only lets you earn points where you do most of your spending, but one that also lets you spend those points however you want. The Chase Platinum MasterCard® can give you that flexibility. This card, issued by Chase, is designed to give people with excellent credit access to a no-nonsense rewards program that lets you earn and spend your points however you want.

Many rewards cards minimize the actual rewards that you can get out of their programs by limiting the spending areas you can earn points on. But when you use your Chase Platinum MasterCard®, it will be all earning, all the time. You will earn one point for every single dollar that you spend, no matter what your purchases are or where you're buying them. Once you've earned them, your points can be redeemed for merchandise, travel, gift cards, or even cash back. With all of these rewards options, this card is like a cash rebate card, a frequent flier card and a rewards card, all rolled into one. The points you can earn are limited to 60,000 per year, but you'll have five years to use them before they expire.

This card offers its users an attractive introductory interest rate of 0% on both purchases and balance transfers for an introductory period of up to twelve months, and has no annual fee. The interest rate that you will receive when the introductory period expires depends upon your individual credit history, but this card does offer a reasonable interest rate to qualifying applicants. However, the method that is used to determine the finance charges on this credit card can make carrying a balance pricier than necessary, so this card is best for those who intend to pay off their balances in full each month.

In addition to a great rewards program and reasonable rates, this card also offers a variety of services and benefits to its users. You will receive travel accident insurance, lost and stolen card replacement, and auto rental insurance, to give you piece of mind when you're on the road. You will also receive free online account access, so you can always get your hand on the financial information you need, when you need it. This card gives you great options, both in how you get your points, and in how you spend them.

(Review Updated: May 12, 2008)

0% Intro APR on Purchases, Balance Transfers for 12 months
10.99% Regular Variable APR for Purchases
20.99% Regular Variable APR for Cash Advances

20 days Grace Period

(* 0% Intro APR for up to 12 months)

Finance Configuration: Average daily balance method (including new purchases).

Additional Cardholders: $0

Late Payment Fee: $15 on balances up to, but not including, $100; $29 on balances of $100 up to, but not including, $250; and $39 on balances of $250 and over.

Over-The-Limit Fee: $39

Cash Advance Fee: 3% of the amount of the transaction, but not less than $10.00.

Balance Transfer Fee: 3% of the amount of each transaction, but not less than $5.00 nor more than $75.00.

Minimum Credit Limit: n/a

Maximum Credit Limit: n/a

Type of Reward: None

Additional Nones: n/a

Bonus Nones First Purchase: n/a

Bonus Nones Other: n/a

Expiration: 5 Years

Yearly Limit: 60,000 Points

Additional Features for Chase Platinum MasterCard®:

Various Internet account related services.
No liability for unauthorized transactions.
Lost and stolen card reporting.
Emergency cash replacement.
Emergency card replacement.
Various travel and emergency assistance services.
Travel accident insurance.
Purchase protection.
Extended warranty for purchases.
Auto rental insurance (MasterRental).
Year-end financial statement (upon request).
See website for additional benefits.
Certain restrictions, limitations, and exclusions apply.
If an account is opened, please refer to the Guide to Benefits for details.

Important Notes for Chase Platinum MasterCard®:

The APR for purchases varies according to the applicant's credit history and will be 5.99%, 9.99% or 14.99% + Prime Rate.
See website for complete terms and conditions of card usage and application disclosure.

Look for Similar Credit Cards by Category

What is a FICO score?

Notes: The review on Chase Platinum MasterCard® was updated on May 12, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.