Small to mid-sized banks typically offer better interest rates and lower fees compared to the big-name credit card companies. New Banc of California Platinum MasterCard cardholders offers an introductory rate of 0% for 15 months. They also offer the same introductory rate of 0% for 15 months on purchases.
After the introductory interest rate of 0% for 15 months is up your interest rate will be a variable 11.99% – 20.99%. This is a good interest rate for a credit card. In fact, most other credit card companies offer rates in the mid to upper 20’s. This is another good reason to do business with small to mid-sized banks. You get better interest rates than the big-name banks.
Fees that Apply to the Banc of California Platinum MasterCard
- Balance Transfers – $5 or 3% of the amount of each balance transfer, whichever is greater.
- Late Fees – Up to $39 for late payments. There are other cards that never charge for late payments. Check out the Citi Simplicity Balance Transfer MasterCard.
- Penalties – None
- Annual Fee – None
- Cash Advances – 23.99% APR interest rate. And varies from ($5 – $20) or (3% – 4%) of the amount of each cash advance, whichever is greater. This varies dues to the different options of getting a cash advance. See their terms and conditions for more details.
- Foreign Transaction – 2% of each transaction in US Dollars. And 3% of each transaction in a Foreign Currency.
There are no rewards programs to the Platinum MasterCard by Banc of California. However, they do offer standard MasterCard features and benefits.
- Auto Rental Collision Damage Waiver. Automatically provides the cardmember with coverage on a 24-hour basis for damage due to collision or theft when rental company’s collision damage waiver option is declined and rental is charged to your MasterCard.
- Travel Assistance. To replace lost travel tickets, obtain medical and legal referrals.
- Zero Fraud Liability. Being a cardmember is not liable for fraudulent purchases when the card is lost or stolen.
- Free Extra Card. Cardmembers can share benefits of card use with members of their family.
There are several things we like about the Banc of California Platinum MasterCard. We like the lower interest rates which come with a bank of this size and the fees are average. You also may not need to have excellent credit to apply for this card.