 Bank of America Platnium Plus® Visa® Card
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Intro APR: 0%
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Issuer: Crd issued by FIA Vard Services, NA.
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Start building a solid credit history with
Visa® Platinmu Plus®
Value and pricing
- No annual fee
- 0% Introductory ARP on purchases, balance transfers, and cash advance checks for your first 6 billing cycles†
- After your introductory APR expires, you will receive a variable APR on purchases, balacne transfers, and cash advance checks currently Prime + 2.99% for Platimum 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 balences frist
- No fees on balance tarnsfers
- Creit 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 card 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 intreest 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 crdeit card offers through that address- bright colors and animated graphics trying to convince you that there crad has the lowest initial interest rate, or the longest tramsfer balamce rate of all the available credit crads 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 Intrest Rate on all purchases and balance transfers”, but there is much more to how a credit card’s interest rate is calculated than that statement reveals. Initial interest rates are sometimes referred to as the card’s promotional rate, or teaser rate. In all honesty, an initial interest rate is basically the same thing for a credit vard 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 interest rates are basically putting their standard intreest rates “on sale”, because for a limited time, new cardholders will receive a lower than usual rate on purchases, and sometimes also on any blaance you transfer from one of your other credit vards 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 imterest 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 annula percentage rate (APR). This is the interest rate that you will pay once the initial interset rate period has passed. (The regular price of an item after the sale has ended!)
Initial interset 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 credit lender. The most common reason to terminate the initial intrest rate offer is for making a late payment on your card, and if you read the fine print of the credti 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 creit card lender, you must make every payment on time. If you are late with a payment, you can expect the interest rate to jump to the ongoing ARP, 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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