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ABOC Platinum Rewards Mastercard® Credit Card Review

This card offers a decent welcome bonus and solid ongoing rewards potential, as well as an intro 0% APR period.
 CardRatings Editor  | Updated

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ABOC Platinum Rewards Mastercard® Credit Card

ABOC Platinum Rewards Mastercard® Credit Card
Our Rating:   
Excellent
on ABOC's secure website

CardRatings Editor's Analysis: Pros & Cons

  • Take advantage of intro 0% APR on purchases for 12 months (then 12.90% - 22.90% Variable).
  • Earn 5X points on up to $1,500 in combined purchases each quarter in popular rotating categories.
  • Enjoy no annual fees and no foreign transaction fees.
  • If you don't spend heavily in particular categories or don't want to worry about when and where you use your card, you might be better off with a flat-rate credit card that earns a consistent rate all year long.

If you're looking at the ABOC Platinum Rewards Mastercard® Credit Card and admiring the sign-up bonus, the 0% intro APR period, the 5X points on rotating categories and no annual fee, you might be thinking one thing…

What does ABOC stand for?

ABOC stands for Amalgamated Bank of Chicago, and, no, you don't need to be a member of the bank to apply for the ABOC Platinum Rewards Mastercard® Credit Card.

But should you apply? Well, maybe. You could make a strong case that you should– or shouldn't. As with any credit card, there are pros and cons, and you'll want to mull them all over before you make a decision.

ABOC PLATINUM REWARDS MASTERCARD® CREDIT CARD BENEFITS

The ABOC Platinum Rewards Mastercard® Credit Card has a lot going for it. In a nutshell, what cardholders will surely like the most are the following benefits:

  • It has a 0% intro APR offer. For 12 months from the account opening on purchases, then 12.90% - 22.90% Variable.
  • It has a pretty good rewards package. You'll get one point for every dollar you spend, and you'll earn 5X points per dollar on up to $1,500 in combined purchases each quarter in categories such as groceries, dining, travel, and automotive.
  • There is no annual fee.
  • There is no foreign transaction fee.
  • There is no upper limit on the points you can accumulate, and since points never expire, you can save up for a big award.
  • Choose your rewards: statement credits, airline miles, merchandise, gift cards, or even a combination of rewards types.
  • It offers the benefits of a Mastercard credit card, including zero liability for unauthorized purchases, extended warranty, 60-day price protection, and more.

Top Features

 Cash Back on Gas
1-5 Points/$1
 Cash Back on Groceries
1-5 Points/$1
 Cash Back on Other
1-5 Points/$1

ABOC PLATINUM REWARDS MASTERCARD® CREDIT CARD POTENTIAL DOWNSIDES

As you can see, there's a lot to like. Still, there are some things that might frustrate you.

The rewards package is nice, but it isn't ideal for those who don't heavily spend in specific categories, or who don't like keeping up with rotating categories. If your expenses are all over the place, and you don't spend more during certain times of the year on certain things than others, you might be better off with a flat-rate credit card which offers consistent rewards all year long. There's also the $1,500 quarterly cap to consider. If you know you'll spend beyond this on category spend, you could end up missing out on valuable rewards.

HOW ABOC PLATINUM REWARDS MASTERCARD® CREDIT CARD COMPARES TO OTHER CARDS

ABOC Platinum Rewards Mastercard® Credit Card vs. OpenSky® Secured Visa® Credit Card

You might be thinking about getting the OpenSky® Secured Visa® Credit Card if your credit isn't the best, and that could be a good decision. It's a fine secured credit card, but if you have good credit, you could make the argument that you're better off applying for the ABOC Platinum Rewards Mastercard® Credit Card since it isn't a secured credit card and it offers rewards. With the OpenSky® Secured Visa®, you will have to put down a refundable security deposit (from as low as $200), which will also be your credit limit.

There is also a $35 annual fee for OpenSky®; the ABOC Platinum Rewards Mastercard® Credit Card doesn't have an annual fee.

If your credit is shaky though, and you're looking for a good way to work on it, Opensky® is a helpful option as there's no credit check necessary to apply and it regularly reports to all three major credit bureaus.

ABOC Platinum Rewards Mastercard® Credit Card vs. Wells Fargo Platinum card

(This card is not currently available on CardRatings)

If you're looking at both of these cards, you have some thinking to do. They're both good cards and both have their advantages.

For starters, neither card has an annual fee.

Another similarity is that they both offer introductory 0% APR periods. The ABOC Platinum Rewards Mastercard® Credit Card gives you 12 months on purchases (then 12.90% - 22.90% Variable). The Wells Fargo Platinum card gives you 18 months on both purchases and qualifying balance transfers (then 15.49%-24.99% Variable).

The Wells Fargo Platinum card also offers a cell phone protection plan, or cell phone insurance, if you prefer, provided you pay your monthly bill on the card (you'll get up to $600 protection and may need to pay a $25 deductible).

It's definitely worth noting though that the Wells Fargo Platinum card does not offer rewards. The ABOC Platinum Rewards Mastercard® Credit Card does: one point for every dollar you spend, and you can earn 5X points per dollar on up to $1,500 in combined purchases each quarter in select categories.

ABOC Platinum Rewards Mastercard® Credit Card vs. Citi® Secured Mastercard®

(This card is not currently available on CardRatings)

If your credit is solid you're probably better off applying for the ABOC Platinum Rewards Mastercard® Credit Card. That's because the Citi® Secured Mastercard® is a secured card, and so you have to put down a deposit before you can use it. That said, the Citi® Secured Mastercard® is a pretty good secured credit card, so if you're going to go this route, it isn't bad. Once approved, your credit limit will be equal to your security deposit (minimum of $200).

But, again, with the ABOC Platinum Rewards Mastercard® Credit Card, you put down nothing.

And there is no rewards program with the Citi® Secured Mastercard®.

Neither card has an annual fee.

IS ABOC PLATINUM REWARDS MASTERCARD® CREDIT CARD A GOOD CARD?

The ABOC Platinum Rewards Mastercard® Credit Card is a good card for somebody who has solid credit and feels as if the top-tier rewards cards are out of reach. True, the top-tier rewards credit cards may well be out of your reach if you have so-so credit, but the ABOC Platinum Rewards Mastercard® Credit Card is a pretty good substitute.

It has a solid rewards package (one point for every dollar you spend, and you can earn 5X points per dollar on up to $1,500 in combined purchases each quarter in select categories). There is no annual fee, and you'll likely enjoy the 0% intro APR offer for purchases for 12 months from the account opening (then 12.90% - 22.90% Variable).

ABOC Platinum Rewards Mastercard® Credit Card Compared to Other Cash back Cards

Apply online for Chase Freedom Unlimited®
Chase Freedom Unlimited®
Apply online for Citi<sup>®</sup> Double Cash Card - 18 month BT offer
Citi® Double Cash Card - 18 month BT offer
Apply online for Credit One Bank® Visa® Credit Card with Cash Back Rewards
Credit One Bank® Visa® Credit Card with Cash Back Rewards
Cash Back on Gas
1-5 Points/$1 
Cash Back on Gas
1.5% 
Cash Back on Gas
1% when you buy plus 1% as you pay 
Cash Back on Gas
Qualified applicants will receive exclusive benefits such as 1% cash back rewards on all purchases 
Cash Back on Groceries
1-5 Points/$1 
Cash Back on Groceries
5% cash back on grocery store purchases (not including Target(R) or Walmart(R) purchases) on up to $12,000 spent in the first year. 
Cash Back on Groceries
1% when you buy plus 1% as you pay 
Cash Back on Groceries
Qualified applicants will receive exclusive benefits such as 1% cash back rewards on all purchases 
Cash Back on other
1-5 Points/$1 
Cash Back on other
1.5% 
Cash Back on other
1% when you buy plus 1% as you pay 
Cash Back on other
Qualified applicants will receive exclusive benefits such as 1% cash back rewards on all purchases 

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