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Verdict: Issued by Capital One, the LSU Tigers Platinum MasterCard allows cardholders to show their pride for the Louisiana State University Tigers — the card comes in two LSU-centric designs — while also earning bonus points that can be redeemed for everything from gift cards to air travel. The rewards program is generous, while the interest rate is reasonable. The only downside? Consumers will need excellent credit to qualify for this card.
Overview: At its heart, the LSU Tigers Platinum MasterCard is a rewards card. And it’s a good one. Cardholders can earn double points for certain purchases, and they can redeem their rewards for a wide variety of items.
How This Card Works: The card rewards cardholders with more rewards points if they charge items at gas stations and major grocery stores. However, it does provide rewards, just at a slower pace, for all charges that cardholders make. The low interest rate can rise to a high 29.4-percent penalty interest rate if cardholders make a late payment. It will then remain at this level until cardholders make their minimum required monthly payments on time for six consecutive billing periods. Consumers will need excellent credit scores, above 700 on the FICO scale, to qualify for this card.
Travel and Shopping Rewards: Cardholders earn two rewards points for every dollar they charge on their cards at gas stations and major grocery stores. They earn one rewards point for every dollar they charge for all other purchases.
Cardholders can redeem these points for travel, gift certificates and merchandise.
Fees: The LSU Tigers card comes with an introductory interest rate of 0 percent. This rate lasts until October of 2011. After that, the rate adjusts to a still reasonable 13.9 percent. This card comes with no annual fee. Other fees are standard for the industry: $10 or 3 percent for cash advances, whichever is higher; and $35 for late and returned payments.
- Generous rewards program
- Earn more rewards for gas station and grocery store purchases
- Low interest rate
- Card only available to consumers with excellent credit scores
- Penalty interest rate will soar to 29.4 percent
- Late- and returned-payment fees of $35