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Verdict: Depending on your credit score, the Maximum Rewards Platinum Edition Visa card from First National Bank of Omaha will provide you with both a generous rewards program and a low purchase interest rate. However, if your credit score is weak, you’ll be stuck with a purchase interest rate near 20 percent.
Overview: The Maximum Rewards card provides you with rewards points for every purchase that you make. It also comes with no rewards limits, meaning that you can earn as many rewards in a given month as you’d like. Once you earn enough points, you can redeem them for gift cards, merchandise or free flights on any major airline.
How This Card Works: Like many cards, your purchase interest rate is tied into your credit score. If you have a low score, your interest rate will be high. If your score is low, you will nab an interest rate that’s below the average for rewards credit cards.
Travel and Shopping Benefits: You’ll receive one-and-a-half rewards points for every dollar that you charge with the Maximum Rewards Platinum Edition Card. You’ll also receive purchase protection, which protects your products against theft, accidental damage and fire during the first 90 days after you make your purchase. The card comes, too, with travel assistance services and up to $250,000 in travel accident insurance. You’ll also receive up to a 25 percent discount at participating car rental agencies.
Fees: This card comes with no annual fee. Its purchase interest rate will vary depending on your credit score. You’ll qualify for a rate of either 13.99 percent, 16.99 percent or 19.99 percent. The penalty purchase interest rate, though, is steep: It can soar to 29.99 percent. Cash advances cost $15 or 5 percent of the advance amount, whichever is higher. The fees for late payments and payments that have to be returned can both hit $35.
- No annual fee.
- Generous rewards program.
- Purchase interest rate can be low depending on your credit score.
- Penalty interest rate near 30 percent.
- Purchase interest rate can soar to nearly 20 percent if your credit is bad.