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Efectiva™ Platinum Plus® Visa® Review
Card issued by FIA Card Services, N.A. (USA)
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The Efectiva™ Platinum Plus® Visa® was last reviewed on 10th May 2008
Summary - The Bank of America Efectiva™ Platinum Plus® Visaź is a cash back credit card. It's main features are
You earn 1% cash back for your purchases - earn one point for every one hundred dollar you spend, and one point is equal to $1.00 cash rebateYou earn earn 5 points for every $2,500 in net monthly balance transfers from non-Bank of America accountsThere is no annual fee
Let us explore this card in more detail
Rebate Formula - The Efectiva™ Platinum Plus® Visa has a simple
rebate formula that pays you an equivalent of 1% cash
rebates. You earn one point for every one hundred you
spend and that one point will get you $1.00 in cash
rebates. You can redeem your cash rebates when you have
accumulated 25 points ($25.00). You can either choose to have the rebates sent to you via a check or deposited into your Bank of America savings or checking account. You can earn up to $600 in annual rebates.
For your first purchase, you earn 5 bonus points ($5.00 cash rebates). You can also earn 5 bonus points for every $2,500 in net monthly balance transfers from a non-Bank of America account.
Annual Fee and APR - This card has no annual fee. You get a 0% apr for both purchases and balance transfers for six billing cycles. The APR is prime rate plus
5.99%. As with all Bank of America credit cards, the average daily balance method (including new purchases) is used to calculate your monthly balance.
Conclusion - Those looking for a cash rebate card with a simple rebate formula (no tiers) will find the Bank of America Efectiva™ Platinum Plus® Visaź appealing. The cap of $600 is quite high and most people will not have an issue with that. In addition, you earn 5 bonus points for transferring every $2,500 of balance to your card in each month. There is also an attractive 0% APR offer
for 6 months and no annual fee. If you have a savings or checking account with Bank of America, you can also make your life easier by getting your cash rebates to be put into your account.
Positives
Simple rebate formulaBonus points for every $2,500 in net monthly balance transfersNo annual feeCash rebates can be put into your Bank of America savings or checking account
| Efectiva™ Platinum Plus® Visa® |
| Rebate Formula |
| Rebate Formula |
1% rebate formula
Earn 1 point for every $100 you spend. 1 point is equal to to $1.00 in cash rebate. |
| Caps on rebates |
Earn up to $600 |
| Benefits |
Customer communications are send in Spanish and English
Total Security Protection
Various Internet account related services
Auto rental insurance
Various travel and emergency assistance services
Free Year-End Summary Statement
Lost luggage recovery
No liability for unauthorized Internet transactions
Discounts on auto rentals
Optional Mini Card
See website for additional benefits
Optional Purchase Guard
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| Cost/Fees/Interest rates |
| (APR) Purchase |
Intro Rate - 0% for six billing cycles. Goto rate is a variable risk based rate Prime + 5.99% |
| (APR) Balance Transfer APR |
Intro Rate - 0% for six billing cycles. Goto rate is a variable risk based rate Prime + 5.99% |
| (APR) Cash Advance |
(P + 15.99%)
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| Finance Configuration |
Average Daily Balance (including new purchases) |
| Annual Fees |
None |
| Additional Cardholders |
$0 |
| Grace Period |
20 days (Min) |
| Minimum Credit Limit |
$500 |
| Maximum Credit Limit |
$25,000 |
| Late Payment fee |
Based on Account balance on the fee assessment date - $15 for balances less than or equal to $100, $29 for balances $100.01 to $250, $39 for balances greater than $250. |
| Over-the-credit-limit fee |
Based on the highest Account balance during the Billing Cycle - $15 for balances less than or equal to $500, $29 for balances $500.01 to $1000, $39 for balances greater than $1000. |
| Cash Advance fee |
3% min $10.00 |
| Balance Transfer fee |
3% of each advance (min. $10) |
Apply for the Bank of America Efectiva™ Platinum Plus® Visaź
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