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Last updated on March 4th, 2021
American Savings Bank Platinum Edition Visa Card
0% APR for 15 Months on Balance Transfers
- Regular Purchase APR 14.24% to 23.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 14.24% to 23.24% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 25.24% variable based on the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good , Fair
- Processing Network Visa
- No annual fee
- 0% introductory APR on balance transfers for 15 months
- Low APR
- Regular Purchase APR: 14.24% to 23.24% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for the first 15 months
- Balance Transfer APR: 14.24% to 23.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 25.24% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $15 or 5% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $35
At a Glance
The American Savings Bank Platinum Edition Visa is a balance transfer credit card that offers a generous introductory APR offer on balance transfers, a competitive APR after that, and an easy-to-achieve statement credit bonus.
- Ideal for Those Who:
- Don’t want to pay an annual fee
- Live in Hawaii
- Already bank with American Savings Bank
- Have an existing credit card balance to pay off
American Savings Bank Platinum Edition® Visa Card Review
The American Savings Bank Platinum Edition® Visa is a no annual fee, balance transfer credit card that features a decent APR, generous introductory bonuses, and more.
15 Months, 0% Intro APR
The most impressive feature with the American Savings Bank Platinum Edition Visa is the excellent 15 months of 0% introductory APR on balance transfers. The more-than one year of no interest on balance transfers makes the card a perfect option for Hawaii residents that already have credit card debt and want to pay that balance down overtime at a lower rate.
A Competitive APR After That
Once the 15 months expire, the interest rate on both purchases and balance transfers are highly competitive. Starting at around 14% for those with excellent credit scores, that rate is over two percentage points lower than the national average for a balance transfer credit card.
$25 Statement Credit
The American Savings Bank Platinum Edition® Visa also comes with another introductory offer. New cardholders get a $25 statement credit after purchasing within their first three months after opening an account.
While a $25 statement credit won’t match up with a bonus points offer from card like the Platinum Card from American Express or the Chase Sapphire Reserve, it is an exceptional value given that it requires just one purchase of any value.
Other Card Features
All American Savings Bank credit cards come with the features of Visa Traditional credit cards. These protections and perks include:
- Visa Zero Fraud Liability
- Roadside Dispatch, which offers 24-hour access to roadside assistance like tire changing, jump-starting, or towing.
- Complimentary access to your FICO credit score each month
- Online account management
- Visa Global Services
Should You Apply for the American Savings Bank Platinum Edition® Visa Card?
Low rate credit cards like the American Savings Bank Platinum Edition® Visa are a common feature of most banks. These credit cards provide a competitive interest rate, an introductory APR, and little else.
That’s not to say these cards aren’t exciting – and valuable – additions to a person’s wallet. The American Savings Bank Platinum Edition® Visa is a solid option for Hawaiians seeking a quality, low rate every day, plus the ability to repay existing credit card debt with no interest for over a year.
The $25 statement credit is another nice perk. Sure, $25 isn’t a make-or-break bonus, but it is a nice, little perk that ensures the card has a place in your wallet (and not just as a debt reduction tool).