Credit Card Articles

Maximum Rewards Platinum Edition Visa Card Review

2 October 2011 by CreditCardsCo™

With the Maximum Rewards Platinum Edition Visa Card from the First National Bank of Omaha, you could enjoy a handful of some of the best credit card benefits in the country. If you like low rates and a simple incentive program, this might be the card for you.

Credit card can be great financial tools if you know how to use them properly. Of course it helps to have one that is easy to use in general. Thankfully, the First National Bank of Omaha has released the Maximum Rewards Platinum Edition Visa. This card is both easy to use and a great financial tool; perhaps it is such a great tool because of its facility.

Low Introductory Rates

The most important component of a credit card is its rates. It should be the first thing you consider because rates are what will influence your credit experience the most. When you look at the rates for the Maximum Rewards Platinum Edition Visa from First National Bank of Omaha, you will notice that it offers extremely competitive introductory rates on:

  • Balance transfers for the first 12 months
  • Standard purchases for the first 6 months

When you think about it, then, you could be paying next to nothing (in interest) for the up to the first year. This gives you quite a bit of time to:

  • Consolidate existing cards and reduce your credit liability
  • Make a large purchase and pay it off in monthly installments before interest accrues
  • Plan a vacation

Obviously, there are many more things you could do with that kind of leeway. Of course, once the introductory periods end, you will also find that the standard variable APR on all your card balances will also be quite competitive. It is important for you to remember, though, that interest rates are always based on two things:

  • The market prime rate at the time of your approval
  • Your credit history

Incentive Rewards Program

In order to be competitive in the credit card industry these days, it is important for credit card companies to offer some kind of incentive rewards program. The Maximum Rewards Platinum Edition Visa from the First National Bank of Omaha, then, gives you access to one of the most fundamentally simple rewards programs currently available.

  • Earn points for every dollar spent on qualifying purchases
  • There are no point limitations
  • Points are redeemable for five years

Obviously, since your points can last for so long and since there is no limit, you can hold on to them until you find something for which you really want to redeem them. You can start redeeming points with as little as 1,500 points and you can redeem rewards points on:

  • General merchandise
  • Gift cards / gift certificates
  • Air travel and travel services
  • Cash back account rebate credit

Fees

Now, the Maximum Rewards Platinum Edition Visa from the First National Bank of Omaha does have a few fees, just like other credit cards. While it is devoid of an annual fee there are other fees that you could expect to pay. Some of these fees while others would qualify more as service charges; some are flat dollar amounts while others could be assessed as a percentage per each transaction.

  • Balance transfers
  • Cash advances
  • Foreign exchange transaction
  • Making a late payment
  • Having a payment dishonored and returned
  • Additional card / card replacement

In addition to fees, you should also know that you could also expect to pay a different annual percentage rate for the various balances the Maximum Rewards Platinum Edition Visa carries. Credit cards carry separate balances for standard purchases, balance transfers, money transfers, and cash advances, and all four can have a different interest rate.

Generally speaking, cash advances usually have the highest interest rates but you should also be aware that penalty rates can also be tacked on to your balance until you pay a past due balance. These can add up quickly so you should always minimize use of auxiliary services and always make your payments on time.

Final Word

The Maximum Rewards Platinum Edition Visa Card from the First National Bank of Omaha is a simple credit card with no annual fee and low introductory rates. The incentive rewards program is also simple and thus easy to understand and use.

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