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From the Experts at Credit.com

This May Be the Best Credit Card Reward Bonus Out There

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man on couch with laptop and credit card happy that he has the best credit card reward bonus

There are a lot of fabulous credit card reward bonuses out there. See just a few in the article “Find the Best Credit Card Sign-Up Bonus for 2019.” There’s one bonus though that the article doesn’t cover. And it may be the best credit card reward bonus out there right now—or at least a super solid contender. It’s the ABOC Platinum Rewards Mastercard® Credit Card with its 5X rewards program.

Like many rewards credit cards the ABOC Platinum Rewards Mastercard® requires cardholders have a good or excellent credit score. But if you have that credit rating, this card is well worth a look. It’s a cash rewards credit card, a points reward credit card and a miles rewards card all rolled into one rewards program—one that offers more rewards than ever before.

More Credit Card Rewards for You

Early in 2019, Amalgamated Bank of Chicago (ABOC) launched a new 5X rewards program for the ABOC Platinum Rewards Mastercard®. With the program, cardholders earn 5X rewards on their first $1,500 in combined purchases in a given rewards category each quarter.

  • In October, November and December 2019, cardholders earn 5X points on $1,500 of qualifying auto parts, service and repair purchases.

The only “catch,” which really isn’t a catch at all, is that you have to register for its rewards program with a valid email address to earn your extra points. How easy is that? Super easy, that’s how.

Fabulous Rewards Every Day

Aside from the added 5X rewards, you earn on your first $1,500 in the categories each quarter, the ABOC Platinum Rewards Mastercard® credit card offers great benefits every day, including:

  • 1 ABOC credit cards reward point for every dollar you spend every day
  • Extra points when you shop at participating retailers
  • Unlimited earning with no caps on the points you earn
  • Points that never expire
  • Points can be redeemed for travel, gift cards, merchandise or cash—in the form of a statement credit
  • $0 liability for unauthorized purchases
  • Extended warranty on items purchased with your card

All the Conveniences of a Mastercard Credit Card

The ABOC Platinum Rewards Mastercard® is a true Mastercard. It can be used at more than 30 million merchants around the globe. It works with Masterpass™, Apple Pay®, Samsung Pay and Android Pay™. And it lets you use mobile banking and an account online to manage your account from anywhere at any time.

Fabulous Benefits for New Cardholders

So, why get this card if you don’t have it already? The rewards of course. When you’re approved for the ABOC Platinum Rewards Mastercard® credit card, you:

  • Pay an APR of 0% for 12 months on purchases and balance transfers—that’s one-year interest-free
  • $150 statement credit after you spend $1,200 on purchases within the first 90 days from account opening
  • After your intro APR period ends, you pay a nice standard variable APR 14.40% - 24.40% Variable APR on purchases and balance transfers —and your APR won’t go up if you miss a payment, although you will need to pay a one-time fee
  • Pay a $0 annual fee—that’s no annual fee (see pricing and rewards information)

Amalgamated Bank of Chicago Platinum Rewards Mastercard® Credit Card

Apply Now
on Amalgamated Bank of Chicago's secure website
Card Details
Intro Apr:
0% for 12 months

Ongoing Apr:
14.40% - 24.40% Variable APR on purchases and balance transfers

Balance Transfer:
0% for 12 months

Annual Fee:
$0

Credit Needed:
Excellent-Good
Snapshot of Card Features
  • 0% Intro APR on Purchases and Balance Transfers for 12 months; after that, the variable APR will be 14.40% to 24.40%, based on your creditworthiness
  • Earn $150 Statement Credit after you spend $1,200 on purchases within the first 90 days from account opening
  • Earn 5x rewards on up to $1,500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive
  • No upper limit on the points you can accumulate, and since points never expire, you can save up for a big award!
  • Earn Points on Every Purchase! It’s simple: $1 = 1 Point
  • No Annual Fee
  • Select Your Rewards Your Way

Card Details +

Is the ABOC Platinum Rewards Credit Card for Real?

It is indeed for real. The Amalgamated Bank of Chicago is a small community bank, which gives it lower built-in overhead costs than its larger competitors. That lower overhead lets ABOC afford to invest in offering a highly competitive credit card for everyday people with everyday credit scores.

 There Are Even a Few Rewards Credit Cards for Fair Credit

Rewards credit cards aren’t exclusively limited to those with good and excellent credit. A credit score that falls in in the high 500s to mid to higher 600s on most models is a fair credit score—an odd name, because the lack of credit cards rewards for a fair credit score is anything but fair.

Specifically, Experian reports that a fair FICO credit score is 580 to 669 and a fair VantageScore is from 650 to 699.1 Traditionally, people with fair score were locked out of getting good rewards credit cards and weren’t the target for credit card issuers’ best credit card bonuses.  But, there are a few cards out there for people with fair credit too. Options include the Capital One® QuicksilverOne® Cash Rewards Credit Card and the Credit One Bank® Platinum Visa® with Cash Back Rewards.

Two Cash Rewards Credit Cards for Fair Credit

Capital One® QuicksilverOne® Cash Rewards Credit Card

The Capital One QuicksilverOne Cash Rewards offers unlimited 1.5% cash back on all your purchases. While you won’t match the ABOC Platinum RewardsMastercard® credit card 5X rewards in select categories, that’s still a pretty solid offer. And, you get it without signing up for rotating categories, which may or may not be more to your personal liking.

The Capital One QuicksilverOne Cash Rewards credit card, like the ABOC Platinum Rewards Mastercard® credit card, places no limit on how much cash back you can earn—points in the case of the Amalgamated Bank of Chicago Platinum Rewards Mastercard® credit card. And with either card, your points and cash back never expire.

This card can help you build your credit too. Due to your lower credit score, you’ll start off with a lower credit line than with some other cards. But, after five months of making your payments on time, you can access a higher credit limit.

This Capital One card has a higher APR at 26.99% (Variable) on both purchases and balance transfers and it lacks an introductory APR offer.

This card will cost you a $39 annual fee. That fee pays for itself with the cash back earned on $2,600, which may or may not be ideal.

Credit One Bank® Platinum Visa® with Cash Back Rewards

The Credit One Bank® Platinum Visa® with Cash Back Rewards is another option for you if you have fair credit. It’s even an option if you have bad and poor credit.

This card pays you 1% cash-back rewards on eligible purchases. Some terms apply. You can also get access to offers available only to Credit One Bank card members through Visa® Discounts.

There’s no intro APR with this card either. And your ongoing APR will be 25.74% Variable
This one also has an annual of $39 . Like the APR, you’ll pay a higher annual fee if you have a lower credit score.

Credit One Bank® Platinum Visa® with Cash Back Rewards

Apply Now
on Credit One Bank's secure website
Card Details
Intro Apr:
N/A

Ongoing Apr:
25.74% Variable

Balance Transfer:
N/A*

Annual Fee:
$39

Credit Needed:
Poor-Bad
Snapshot of Card Features
  • Seeing if you Pre-Qualify is fast, easy, and secure
  • Get 1% cash back rewards on eligible purchase, terms apply
  • Rewards post automatically to your account each month
  • Automatic reviews for credit line increase opportunities
  • With $0 Fraud Liability, you won’t be responsible for unauthorized charges
  • Pick a card that fits your style. Multiple card designs are available, a fee may apply
  • Enjoy exclusive offers available to Credit One Bank card members through Visa® Discounts.
  • Your card includes travel accident and auto rental collision insurance from Visa®

Card Details +

Bottom Line

There are excellent rewards credit cards for people with a variety of credit scores. The cards featured here are proof of that. they’re all unsecured credit cards and not unsecured cards that don’t require a security deposit. And they give you options that include cash-back credit cards as well as other credit card rewards.

As with any card, before you apply, read the card’s full cardholder agreement, so you understand the card’s interest rates and interest charges and fees, such as setup and maintenance fees, transaction fees and penalty fees. Keep in mind too that some cards have a purchase APR and a balance transfer APR that may or may not be the same.

And apply selectively and only for cards you’re confident you can get approved for. Because each application puts a hard inquiry on your credit score and too many can hurt your credit score.

Don’t Know Your Credit Score?

If you don’t know your credit score and aren’t sure where to start your search for a credit card, you can get your free Experian credit score right here on Credit.com. Your score includes a free credit report card that shows where you stand in each of the five key areas that go into calculating your score—payment history, credit utilization, credit age, account mix and credit inquiries. Your score and your report card update every two weeks, so you can keep eye on your credit and watch as you use your new card to improve your credit.

CRC fair

1 https://www.experian.com/blogs/ask-experian/credit-education/score-basics/what-is-a-good-credit-score/

2 https://www.cnbc.com/2018/09/24/average-fico-score-hits-an-all-time-high.html

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