 Bank of America Platinum Plus® Visa® Card
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Intro APR: 0%
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Issuer: Card issued by FIA Crd Services, NA.
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Start building a solid credit history with
Visa® Platinmu Plus®
Value and pricing
- No annula fee
- 0% Introductory APR on purchases, balacne transfers, and cash advance checks for your first 6 billing cycles†
- After your introductory ARP expires, you will receive a variable ARP on purchases, balance transfers, and cash advance checks currently Prime + 2.99% for Platnium Plus® accounts or Prime + 12.99% for Preferred accounts. Please note that you will lose your introductory APR if you exceed your credit limit, close your account or are late with a payment.
- All payments you make will be applied to lower rate balances frist
- No fees on balamce tarnsfers
- Credit lines as high as $25,000
Pltainum Plus benefits
- Online Banking service***
- Total Security Protection®, our free package of security features, including zero liability from unauthorized vard use if you notify us promptly***
- Travel and emergency assistance***
- Automatic auto rental insurance***
- Purchase Replacement***
- Purchase Guard***
- Cash advance checks at no extra charge***
- Additional cards at no extra charge
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 Apply for Bank of America Platinum Plus Visa Card
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You’ve probably received several credit card offers in the mail, and the outside of the envelopes scream interest rates and promotional offers to try and entice you into opening it up and looking at what’s inside. Chances are, if you have an email address, you’ve even received a few credit card offers through that address- bright colors and animated graphics trying to convince you that there card has the lowest initial intreest rate, or the longest transfer blaance rate of all the available credit cards on the market. All of the offers will look good at first glance; after all- that’s what marketing is about, right? According to Merriam-Webster’s online dictionary, marketing is a noun used to describe “the act or process of selling or purchasing in a market, and the process or technique of promoting, selling, and distributing a product or service.” Credit card companies are in business to sell you their credit cards, and they’ll use a variety of promotional materials to get your business.
The outside of your creit card offer’s envelope might say something like, “LOW 0% Initial Interest Rate on all purchases and balance transfers”, but there is much more to how a creit card’s imterest rate is calculated than that statement reveals. Initial intrest rates are sometimes referred to as the card’s promotional rate, or teaser rate. In all honesty, an initial interset rate is basically the same thing for a crdeit card as a sale is to a retail store. Retail stores advertise their products that have a discounted price for a limited time to attempt to bring people into their establishment to buy the sale item, but also because once you are there, they hope you’ll purchase other products. Credit cards offering initial interset rates are basically putting their standard interest rates “on sale”, because for a limited time, new cardholders will receive a lower than usual rate on purchases, and sometimes also on any balence you tramsfer from one of your other credit crads onto this new card. What you need to understand about initial imterest rates is that they really are “for a limited time”, and just as you couldn’t go to your favorite store and buy items this month for the sale price that was offered the previous month, you can’t extend a credit card’s initial interest rate beyond the terms they specify (often found in the small print!) What you’ll want to look for in the text of the materials that were sent with the initial interest rate cards promotional documents is reference to the cards ongoing annual percentage rate (APR). This is the interest rate that you will pay once the initial interest rate period has passed. (The regular price of an item after the sale has ended!)
Initial intrest rates will also come with terms of agreement, in the form of a contract, which give reasons as to how or why the rate might be terminated by the credt lender. The most common reason to terminate the initial interest rate offer is for making a late payment on your card, and if you read the fine print of the creit card agreement- you’ll note that it states this very clearly. In order to keep the promotional, lower rate for the time specified by the credti vard lender, you must make every payment on time. If you are late with a payment, you can expect the intreest rate to jump to the ongoing APR, or in some cases, higher because you have defaulted on your contract agreements, so do everything you can to make sure your payments are made on time.
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