First National Bank Maximum Rewards Credit Card Review | CreditShout

First National Bank Maximum Rewards Credit Card Review

By Dan Rafter / August 15, 2011

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A host of credit-card companies are enticing new customers with generous sign-up offers, everything from enough rewards points to book a free airline flight to $100 cash-back offers just for making an initial purchase.

The Maximum Rewards Platinum Edition Visa Card from First National Bank of Omaha, though, uses a different tactic to generate new clients: It offers an extremely generous rewards program.

No, you won’t nab 10,000 bonus points after your first purchase. And you won’t get $200 in instant cash after signing up. But you will earn a significant amount of bonus points with every purchase that you make with this credit card.

The Rewards: The Maximum Rewards Platinum Edition brings you one-and-a-half rewards points for every dollar that you charge. That’s solid. Many cards on the market today will provide you with two rewards points for every dollar that you charge. But you can only earn those ~ bonus points on specific purchases. All other purchases will usually net you just one rewards point for every dollar that you charge.

Is the Maximum Rewards card’s one-and-a-half rewards point on all purchases a better deal than those cards that offer more rewards points but only for certain purchases? You’ll have to look at your own spending habits to determine this. If you come across a credit card that offers you two points for every dollar that you charge at the gas pump, this card might make financial sense if you drive often. If you don’t put that many miles on your car, though, you might do better by going with a card that gives you more rewards points for all purchases, such as the Maximum Rewards card.

Redeeming Rewards: Once you’ve earned enough rewards points, you can cash them in for travel on any major airline, gift cards, merchandise or other rewards. The good news? There is no limit to the amount of points that you can earn with this card.

The Fees: The Maximum Rewards card comes with no annual fee, a nice feature for a card that has a generous rewards program. Your purchase interest rate will be either 13.99 percent, 16.99 percent or 19.99 percent depending on your credit score.

The card does come with an introductory interest rate of 0 percent on all balance transfers for six months. After this introductory period ends, the charges that you transferred to your new card will be charged an interest rate of 13.99 percent, 16.99 percent of 19.99 percent, again depending on your creditworthiness.

The card’s late and returned-payment fees both stand at $35.

The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.Additionally, the opinions of the commenters are not necessarily the opinions of this site

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