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After having “non-rev” privileges with Southwest Airlines, Christy dove into the world of points and miles so she could continue traveling for free. Her other passion is personal finance, and is a cer...
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Note: At this time, the ABOC Platinum Rewards Mastercard® is no longer available for new applicants.
The ABOC Platinum Rewards Mastercard® is a good rewards card for people with excellent credit (a FICO score of 720 or above) that want to earn bonus rewards without having to pay an annual fee or foreign transaction fees. You can even earn 5x rewards in common spending categories such as dining, groceries, travel, and automotive!
On the downside, the ABOC Platinum Rewards card comes with a high APR that can equal big fees if you miss a payment. Since the spending categories also change quarterly, the path to earning maximum rewards requires the cardholder to keep up to date on the bonus categories. This can be annoying if you prefer to be less hands-on with your rewards earning.
This article will look into some of the reasons why the ABOC Platinum Rewards card can be a good card for you and also discusses some alternative options.
Sign-Up Bonus: $150 statement credit after you spend $1,200 on purchases (within the first 90 days).
Rewards: Earn 5 points per $1 spent on up to $1,500 in combined spending on categories that change each quarter. All other spending earns 1 point per dollar.
Interest Rate: 0% on purchases for 12 months, and then the ongoing APR of 12.90% to 22.90% variable APR.
Fees:
Foreign Transaction Fee: None
Balance Transfer Fee: 3% of each balance transfer (minimum $5)
Cash Advance APR: 24.99%
Cash Advance Fee: 5% (minimum $10)
Late Payment Fee: Up to $35
Annual Fee: $0
The ABOC Platinum Rewards card is issued by the Amalgamated Bank of Chicago. This card offers the opportunity to earn 1x rewards on your everyday spending and 5x rewards if you can keep up with the rotating bonus categories.
These rewards can be used for a variety of things, such as statement credits, airline miles, merchandise, gift cards, or even a combination of rewards types. It’s also good to note that your rewards never expire!
If you have a big purchase on the horizon, you can also take advantage of the introductory 0% APR for the first 12 months and the $150 statement credit after you spend $1,200 on purchases within the first 90 days from account opening.
The ABOC Platinum Rewards card has no annual fee or foreign transaction fees but does have a balance transfer fee of 3% of each balance transfer (with a minimum fee of $5) and a cash advance fee of 5% (with a minimum fee of $10).
The card is also compatible with digital wallets, such as Masterpass, Apple Pay, Samsung Pay, and Android Pay. This means that you can use your card with your mobile device and continue to earn ABOC Platinum Rewards Points conveniently and securely.
This card also comes with some additional Mastercard-related benefits. These additional benefits include:
Extended warranty coverage
Travel assistance services
Mastercard ID Theft Protection
60-day price protection
Fraud protection
Hot Tip: You can read more in the Mastercard Guide to Benefits that details all of the program terms and conditions.
Card Application and Approval Odds
Image Credit: Amalgamated Bank of Chicago
You can apply for the ABOC Platinum Rewards card online and securely input all of the required information into your application. Your approval odds for theABOC Platinum Rewards card are low unless you have excellent credit (meaning a FICO score of at least 720).
However, even if you have excellent credit, this doesn’t guarantee you will be approved for this card. In addition, your APR (beyond the initial 0% for 12 months) can vary based on your creditworthiness.
It may take up to 14 days to hear if you were approved for this card, but you can check your ABOC Platinum Rewards card application status by sending an email to cardappstatus@aboc.com. Remember to provide your full name and zip code.
Bottom Line: This application will result in a hard credit check that can negatively impact your credit score. Try to limit the amount of credit you apply for in a short time period.
Online Account
Image Credit: Amalgamated Bank of Chicago
Use ABOC’s website to log in to monitor your ABOC Platinum Rewards card account activity, pay your bill, view transactions, analyze your spending, see your rewards balance, and review your monthly statements.
Paying Your Card Bill
There are multiple options you can use to make payments on your ABOC Platinum Rewards card. Note that you must pay at least the minimum payment shown on your monthly statement each billing period. If the new balance is more than $15, the minimum payment is $15 or 2.5% of the new balance, whichever is greater.
Online
To access your account, log in to your account online. You can also access your monthly bills, enroll to receive paperless statements, and make payments via direct deposit or bank transfer.
Be sure to submit your payments by 5 p.m. CST to ensure that they’re credited on the same day.
There is a mobile app you can access as well, available for both iOs and Android.
Image Credit: Amalgamated Bank of Chicago
By Phone
You can make payments by phone by calling ABOC at 844-431-0820. A customer service agent can help you pay your bill.
By Mail
You can send a check or money order (that notes your name and full account number) for mailed payments.
Payments and payment coupon should be mailed to:
Amalgamated Bank of Chicago
P.O. Box 1106
Chicago, IL 60690-1106
Hot Tip: If you’re mailing in your payment, be sure to allow at least 7 business days for the payment to arrive.
How to Earn and Redeem ABOC Rewards
You will earn 1 ABOC Rewards Point for every $1 spent. You also have the opportunity to earn 5x points throughout the year on a revolving category (based on MCC code).
Image Credit: Amalgamated Bank of Chicago
You don’t need to register for these awards each quarter — once you have registered the first time for the ABOC Rewards program you’ll automatically get 5x on your first $1,500 in purchases for the following categories for each quarter:
January, February, March — monthly bills
April, May, June — dining and transportation
July, August, September — travel
October, November, December — department stores
There are no caps on the points you can earn, and points never expire as long as your account is in good standing.
You can redeem points through the ABOC Rewards portal for travel, gift cards, merchandise, or cash (in the form of a statement credit). You can also gift points to other ABOC Rewards members.
Bottom Line: Unfortunately, this card doesn’t have the option to transfer miles to airline or hotel partners like many other rewards cards.
Redemption values vary, but travel rewards (including flights, hotels, car rentals, and vacation packages) generally offer the best value at about 1 cent per point. These travel items can be purchased directly or booked completely with ABOC Rewards Points by using a combination of points and charges to the user’s ABOC Platinum Rewards card.
Hot Tip: A minimum of 15,000 points for flights and 5,000 points for all other travel must be used if combining points and card charges.
Statement credit and merchandise redeem for about 0.75 cents per point, while gift card rates vary between 0.7 cents and 0.93 cents per point.
Benefits of the ABOC Platinum Rewards Card
Image Credit: Amalgamated Bank of Chicago
Rotating 5x Bonus Rewards Categories
The ABOC Platinum Rewards card features 5x rewards (up to a quarterly maximum of $1,500) on categories that change each quarter (and 1% back on all else). You don’t need to opt-in each quarter to earn these rewards, unlike other big names in the rotating-bonus-category card, like the Chase Freedom Flex℠ and select Discover cards.
Introductory Offers
This card offers a 0% introductory APR on purchases for 12 months and the potential to receive a $150 statement credit if you use your card to spend $1,200 within 90 days of account opening.
No Annual Fee
Unlike many other high-earning rewards cards, the ABOC Platinum Rewards card doesn’t have an annual fee. This means that you can hold onto this card for a long time — and since rewards don’t expire and there are no caps on rewards you can earn, that makes this card is pretty appealing!
Drawbacks of the ABOC Platinum Rewards Card
High Minimum Credit Required
While this card was previously an option for consumers with fair and good credit scores, the ABOC Platinum Rewards card now requires applicants to have excellent credit to qualify. There are many rewards cards such as the Chase Sapphire Preferred® Card and the Capital One® Venture® Rewards Credit Card that only require good credit.
Not Good for Cash Back Rewards
If you’re not interested in travel, this card isn’t the best choice because all non-travel redemptions are poor. As we’ve noted earlier, statement credit and merchandise redeem for about 0.75 cents per point, while gift card rates vary between 0.7 cents and 1 cent per point.
With the ABOC Platinum Rewards card, you’ll have to keep track of its rotating bonus categories every 3 months to maximize your reward earnings.
No Balance Transfer Offers
The ABOC Platinum Rewards card has eliminated its 0% intro APR offer on balance transfers, but this may be reinstated.
ABOC notes: “Amalgamated Bank of Chicago has temporarily suspended its balance transfer offer for new accounts due to the current economic environment. ABOC expects to reinstate this benefit in late 2020; in the meantime, new cardmembers can still receive a 0% intro APR on purchases for 12 months and have the opportunity to earn a $150 statement credit when they spend $1,200 within 90 days after account opening.”
How to Contact ABOC Platinum Rewards Card’s Customer Service
To contact customer service directly, call 800-365-6464 (internationally: 636-722-7111).
If you prefer to contact by mail:
Amalgamated Bank of Chicago
P.O. Box 1106
Chicago, IL 60690-1106
Alternative Credit Cards (Our Recommendations)
If you want to learn about some different card options, especially those that earn lots of rewards, we have a few alternative recommendations.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This cash-back card offers a capped 3% at U.S. supermarkets, 3% at U.S. gas stations, and 3% on U.S. online retail purchases!
This cash-back card offers a capped 3% at U.S. supermarkets, 3% at U.S. gas stations, and 3% on U.S. online retail purchases!
Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
$200
$0
19.24%-29.99% Variable,0% on purchases for 15 months
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
This card is excellent at earning cash-back on your everyday purchases at U.S. supermarkets, U.S. gas stations, and on U.S. online retail purchases. So if you regularly spend money on everyday purchases, this could be the perfect card to add to your wallet.
Pros
3% back on purchases at U.S. supermarkets on up to $6,000 in purchases each year, then 1% back after.
3% back on purchases at U.S. gas stations on up to $6,000 in purchases each year, then 1% back after.
3% back on purchases on online retail purchases on up to $6,000 in purchases each year, then 1% back after.
Monthly credit towards The Disney Bundle
Monthly credit towards Home Chef
Cons
Rewards are not flexible and can only be redeemed for cash-back. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.
Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
No Annual Fee.
Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, 19.24% to 29.99% variable APR.
3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%.
3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Everyday® Card. Enrollment required.
Enjoy up to $15 back per month when you purchase a Home Chef meal kit subscription (subject to auto renewal) with your enrolled Blue Cash Everyday® Card.
Terms Apply.
Financial Snapshot
APR: 19.24%-29.99% Variable,0% on purchases for 15 months
Foreign Transaction Fees: 2.7% of each transaction after conversion to US dollars.
The rewards structure doesn’t offer 5x rewards, but still offers 3% cash-back at U.S. supermarkets (up to $6,000 in purchases each year), 3% cash-back at U.S. gas stations (up to $6,000 in purchases each year), 3% cash-back at U.S. online retailers (up to $6,000 in purchases each year), and 1% back on all other purchases.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.
Up to $300 cash back
$0
0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
The Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.
When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.
Pros
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
5% back on travel purchased through Chase Travel
3% back on dining and drugstore purchases
1.5% back on all other purchases
No annual fee
Earn big on travel purchased through Chase Travel
Everyday bonus on dining and drugstores
Straightforward cash-back on all other purchases
Ability to pool points
Cons
3% foreign transaction fee
INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
Enjoy 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
Member FDIC
Financial Snapshot
APR: 0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
Foreign Transaction Fees: 3% of each transaction in U.S. dollars
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
The Freedom Flex card is an excellent no-annual-fee card that still earns big with 5% cash-back on travel and other bonus categories.
The Freedom Flex card is an excellent no-annual-fee card that still earns big with 5% cash-back on travel and other bonus categories.
Earn a $200 bonus after you spend $500 on purchases in your first 3 months from account opening.
$200
$0
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
The Chase Freedom Flex℠ sure does pack quite a punch — especially for a no-annual-fee card.
The Freedom Flex card is an incredible option for those looking for a well-rounded cash-back card, or a powerful point-earner when paired with a premium card in the Ultimate Rewards family.
Pros
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
Powerful cash-back earner: 5% back on quarterly categories and travel purchases through Chase Ultimate Rewards, 3% back on dining and drugstore purchases, and 1% back on all other purchases
No annual fee
Excellent cell phone insurance
Ability to pool points
Mastercard World Elite benefits
Cons
3% foreign transaction fees in U.S. dollars
Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Flex℠ card
Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
Member FDIC
Financial Snapshot
APR: 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49%-29.24%.
This card also offers no annual fee and offers 5% cash-back on travel (through the Chase portal) and a quarterly bonus category (that you must activate), 3% cash-back on dining and drugstore purchases, and 1% cash-back on all other purchases.
Final Thoughts
The opportunity to earn 5x rewards on select purchases makes the ABOC Platinum Rewards card an attractive option. In fact, this card can compare favorably with its competitors when you consider that the reward categories are broader, you don’t have to “activate” your reward categories every month and it has no annual or foreign transaction fees. If you prefer these benefits, then you should consider the ABOC Platinum Rewards card.
If you’re looking for a less-confusing rewards structure or a card that has higher cash-back redemption rates, you should look at some of the alternative cards we’ve suggested. In addition, the high credit score requirement might prevent you from qualifying for this card. There are plenty of great rewards and cash-back cards that have a lower credit requirement that would be a better option for you.
The information regarding the Capital One Venture Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the ABOC Platinum Rewards Mastercard® was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Chase Freedom Flex℠ was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
For rates and fees of the Blue Cash Everyday® from American Express, click here.
Featured Image Credit: HAMDANI ACHRAF via Shutterstock
Frequently Asked Questions
What does ABOC mean?
ABOC stands for the Amalgamated Bank of Chicago, the company that issues the ABOC Platinum Rewards card. This card is a Mastercard, so it can be widely used domestically and abroad. It also has a rewards program that is free to join, so you can earn rewards for your everyday spending.
What is a rotating bonus category?
The ABOC Platinum Rewards card has a rotating bonus category that changes every 3 months. This means that you can earn 5x rewards in a category that changes. You must keep track of the rotating categories in order to maximize your rewards. The categories consist of travel, dining, department stores, and recurring payments for 2020.
What credit score is needed for the ABOC Platinum Rewards card?
You will need an excellent credit score (meaning a FICO score of at least 720) to get the ABOC Platinum Rewards card. This alone doesn’t guarantee that your application will be approved since ABOC will also review your other financial information when making a decision to approve or deny your application. This additional information includes the number of delinquent accounts in your credit reports, hard inquiries, debt, and income.
How much is the starting ABOC Platinum Rewards card credit limit?
There is no standard credit limit for the ABOC Platinum Rewards card credit limit, but your creditworthiness will play an important role. The higher your credit score is, the higher your ABOC Platinum Rewards card limit will be. Your existing credit, debt, and disposable income will also be factored in.
After having “non-rev” privileges with Southwest Airlines, Christy dove into the world of points and miles so she could continue traveling for free. Her other passion is personal finance, and is a certified CPA.
This bonus value is an estimated valuation calculated by UP after analyzing redemption options, transfer partners, award availability and how much UP would pay to buy these points.
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