The Choice Privileges® Platinum Visa® Card, issued by Bank of America, is designed for those with very good credit who plan to take advantage of the reward program offered.
The reward program is by far the most attractive benefit of the card and is ideal for those who frequently stay at any of the Choice Privileges® hotel locations. Cardholders earn two points for each dollar spent on general purchases and 15 points for each dollar spent at Choice Privileges® locations (see website for participating hotel chains).
There is no yearly limit to the number of points that can be earned and any unused points expire in two years. New applicants receive 6,000 bonus points with their first purchase made with the card. Earned points can be redeemed for free hotel stays, gift certificates, and various travel rewards. In addition, there is a unique donation option, where cardholders can redeem their points to fund donations to the Armed Forces Relief Fund.
In addition to the reward program, this card offers common platinum benefits provided by Bank of America that include up to $500,000 in travel accident insurance, auto rental insurance, and lost luggage insurance.
The card offers a low introductory rate that can be applied towards purchases and balances transfers for the first six months. Although the interest rate for purchases and balance transfers is considered reasonable for a reward credit card, it is not ideal for those who plan to carry a balance after the introductory rate expires.
Therefore, those who frequently stay at any of the Choice Privileges® hotels (to earn additional points) and plan to pay in full each month (to avoid finance charges), will find the Choice Privileges® Platinum Visa® Card to be very beneficial.
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