ABOC (Amalgamated Bank of Chicago) offers a number of good credit cards, including the Platinum Rewards card. If you have average credit or better, you might consider applying for this card. Learn more in our ABOC Platinum Rewards Card review.
ABOC Platinum Rewards Card Review: The Basics
- No annual fee
- 0% intro APR for 12 months (purchases & balance transfers)
- $150 signup bonus after spending $1,200 in first 90 days
- Earns 1 reward point per $1 spent on all purchases
- Equivalent to 1% cash back
- Redeem for statement credits, gift cards and more
- Points do not expire as long as your account stays open
- Extended warranty and price protection benefits
- Full details here
ABOC Platinum Rewards Card Review
Now that we know the basics, is the Platinum card actually worth getting?
That depends. For folks with average to good credit (roughly a FICO of 630+), this is a fairly good option. It’s relatively easy to get approved for. If your FICO score is lower than 630, you may be better off with a secured credit card.
For folks with good to excellent credit, there are better no annual-fee cards to consider, such as the Citi Double Cash or the Uber Visa.
All that said, for folks in the average credit score range, this is actually a pretty solid credit card.
There’s no annual fee to worry about, the card earns a basic 1% back on all purchases, and there’s a $150 signup bonus. You may also benefit from the 0% intro APR offer, which lasts for 12 months from account opening (but note the 3% balance transfer fee).
For this category of cards, the 0% intro APR and $150 signup bonus are generous. That said, the ongoing rewards and perks are somewhat lackluster, considering there are cards offering better rewards earning rates. Depending on how much you plan to spend on the card, you may be better off going with a card with a higher earning rate.
Bottom Line
To sum up this ABOC Platinum Rewards review, we’ll say this:
For folks in the “average” credit score range of 630-700 or so, this is a solid card and well worth considering.
For folks in the “good” to “excellent” credit score range of 700+, there are better options.
The card comes from ABOC, a trusted bank with nearly 100 years of industry experience. They were founded on the principle of supporting union members and laborers, and remain dedicated to community enrichment today. In short, they are a bank you can trust.
Thanks for reading our ABOC credit card review. Leave a comment if you have questions, or if you would like to share your own experience with this bank.
