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The Bank of America® Platinum Plus® Visa® was last reviewed on 10th May 2008
Summary - The Bank of America® Platinum Plus® Visa® Card is a basic no-frills credit card which will appeal to those looking for a basic card from a major bank. Find out more about this card.
Annual Fee and APR - The Bank of America Visa Platinum has no annual fee. You get an introductory 0% APR for both purchases and balance transfers for twelve billing cycles. However, you would have to pay a balance transfer fee and there is no cap on that balance transfer fee. The APR is prime rate plus 2.99%. The average daily balance method (including new purchases) is used to calculate monthly balances.
Other Platinum Benefits - Being a platinum card, the Bank of America Visa Platinum offers standard platinum benefits like travel and emergency assistance, automatic auto rental insurance and a few other perks.
Verdict - We recommend the Bank of America® Platinum Plus® Visa® Card to those who have good credit and are looking for a basic credit card with a low interest rate. However, if you are looking for a card to transfer a balance, be aware that there is no cap on the balance transfer fee and hence if you do a large transfer, you may get a sticker shock. (Please check out our tutorial on balance transfer credit cards to get a more appropriate card.
Positives
No annual fee0% APR on both purchases and balance transfers for six billing cyclesPlatinum card benefits
| Bank of America® Platinum Plus® Visa® |
| Perks/Notations |
Online Banking service
Welcome anywhere Visa credit cards are accepted
Convenience checks at no extra charge
Additional cards at no extra charge
Bilingual (English/Spanish), Braille and large-print credit card statements available upon request
Zero liability from unauthorized card use if you notify us promptly
Travel and emergency assistance
Automatic auto rental insurance
Purchase Replacement, which provides for repair or replacement for covered purchases that are stolen, damaged or lost at a known location, within 90 days of the date of purchase
Purchase Guard, which will double the manufacturer's original United States (U.S.) warranty period for covered purchases with a warranty duration of 1 year or less
Total Security Protection™, our free package of security features |
| Cost/Fees/Interest
rates |
| (APR) Purchase |
Intro Rate - 0% for six billing cycles. Goto rate is a variable risk based rate Prime + 2.99% |
| (APR) Balance Transfer |
Intro Rate - 0% for six billing cycles. Goto rate is a variable risk based rate Prime + 2.99% |
| (APR) Cash Advance APR |
(P + 15.99%) |
| Annual Fees |
None |
| Finance Configuration |
Average Daily Balance (including new purchases) |
| Additional Cardholders |
$0 |
| Grace Period |
20 days (Min) |
| 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 |
None when Balance Transfer is requested at time of application; thereafter, 3% of each advance (min. $10) |
Apply for the Bank of America® Platinum Plus® Visa® Card
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