The Asiana Visa® Platinum Card, issued by Bank of America, is designed for those with very good credit who travel frequently via Asiana Airlines.
Through the airline reward program, one mile is earned for every dollar spent on the card and double miles are earned for Asiana Airlines purchases. Cardholders receive 5,000 bonus miles with their first purchase. In addition, 2,000 bonus miles are applied to the account each year upon payment of the annual fee. There is a liit of 100,000 miles that can be earned per year.
Aside from the reward program, cardholders can expect common benefits offered by Bank of America that include up to $1,000,000 in travel accident insurance, auto rental insurance, and annual discounts for business-class and companion ticket purchases (see website for restrictions).
The interest rate for purchases and balance transfers is reasonable for a reward card (for those who qualify), though not ideal for those who plan to carry a balance. Although there is a low introductory rate that applies to purchases and balance transfers for six months, the annual fee is high for an airline reward card. Additionally, there is a minimum cap of 19.99% for cash advances; so no matter how low the Prime Rate falls (the APR is tied to the Prime Rate), the interest rate will not go below the minimum cap.
Therefore, those who qualify for the lowest rate offered, plan to pay in full each month (to avoid finance charges), and will be able to redeem a free ticket within a two-year period (due to the annual fee of $80), will benefit most from what the Asiana Visa® Platinum Card has to offer.
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