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Verdict: The rewards program offered by the Union Bank Maximum Rewards Platinum Edition Visa Card is simple: You’ll earn the same amount of rewards points for every dollar that you charge. The card also comes with no annual fee. These two factors make this an attractive option for consumers hoping to earn a steady stream of rewards points with their credit card.
Overview: Whenever cardholders make a purchase with this card, they’ll earn rewards points. After they’ve earned enough points, they can redeem them for such items as hotel stays, gift cards, cash and air travel. The card’s rewards program is on par with most in the industry.
How This Card Works: Like many credit cards today, the Union Bank Maximum Rewards Platinum Edition Visa tags cardholders with a purchase interest rate that is tied to their creditworthiness. Cardholders with high credit scores can qualify for a purchase interest rate that is quite low by consumer card standards. Those with low scores will be saddled with higher purchase interest rates.
Travel and Shopping Benefits: Cardholders will earn one-and-a-half points for every dollar that they charge with their Maximum Rewards Platinum Edition card. They’ll also receive zero-liability protection against fraudulent purchases made with their card and free travel assistance services.
Fees: Depending on their credit score, cardholders will receive a purchase interest rate of 9.99 percent, 14.99 percent or 17.99 percent. This card does not charge an annual fee. The penalty interest rate is high, though; cardholders who violate the card’s terms of service might be assessed a penalty fee of 29.99 percent. Cash advances cost $15 or 5 percent of the advance amount, whichever figure is higher. Late-payment and returned-payment fees are both $35.
- No annual fee.
- Interest rate can be low depending on credit scores.
- Generous and simple rewards program.
- Interest rate can be as high as 17.99 percent depending on credit scores.
- Penalty interest rate of 28.99 percent.