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Verdict: The Bank of the West Platinum MasterCard is a fairly standard consumer card. It’s purchase interest rate isn’t low, but it isn’t unreasonably high, either. It comes with no annual fee, but no real perks such as rewards programs or cash-back bonuses, either. This card is best suited to the consumer who doesn’t want frills and won’t be carrying a large balance from month to month.
Overview: This card doesn’t come with a host of frills. It does, though, come with an introductory interest rate offer of 0 percent on all purchases for the first six months after cardholders activate their accounts. Those consumers who don’t carry a balance from month to month, of course, won’t have to worry about their purchase interest rate at all.
How This Card Works: This is a basic credit card. Cardholders won’t have to pay any fees or penalty interest rates as long as they pay their monthly bills on time. They will face standard industry fees, though, if they go over their card’s limit, pay their bills late or send in a payment that has to be returned.
Travel and Shopping Benefits: The Bank of the West Platinum MasterCard does come with a few perks: Cardholders can access their account information online, and will have free access to secondary rental car collision damage waiver insurance. The card also comes with zero-liability protection against fraudulent purchases and travel accident insurance. Cardholders can also access lost or damaged luggage insurance, hotel/motel burglary coverage and emergency roadside assistance.
Fees: After this card’s introductory interest rate period ends, cardholders will receive a purchase interest rate of 16.99 percent. Those cardholders who miss payments or make their payments late will be hit with a penalty interest rate of 29.99 percent. That rate will stay in place for six consecutive billing periods and then revert to the 16.99 percent figure if cardholders make six consecutive payments on time. Cash advances cost $10 or 3 percent of the advance amount, whichever is higher. Late-payment, over-the-limit and returned-payment fees can all hit $35. There is no annual fee with this card.
- No annual fee.
- Industry standard late-payment or returned-payment fees.
- Card comes with roadside assistance and travel insurance.
- Purchase interest rate is high.
- Penalty interest rate of 29.99 percent.
- No rewards or cash-back programs.