Last updated on September 11th, 2023
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AmTrust Platinum Edition Card
AmTrust Platinum Edition Card
AmTrust Platinum Edition Card
- 20.49% to 26.49% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 20.49% to 26.49% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.49% variable based on the Prime Rate Cash Advance APR
- 0% for 12 months from account opening date Intro Purchase APR
At a Glance
The AmTrust Platinum Edition Visa Credit Card offers new accounts 12 months of introductory 0% APR on balance transfers and purchases. The card also benefits from a $30 bonus when you spend $600 within the first 3 billing cycles after the account is opened – all for no annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- 0% introductory APR for 12 months on balance transfers
- Redeem rewards for cash back, gift cards, travel or merchandise
- $30 Bonus (3,000 points equivalent) when you spend $600 within the first 3 billing cycles
- Intro Purchase APR: 0% for 12 months from account opening date
- Regular Purchase APR: 20.49% to 26.49% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 12 months from account opening date
- Balance Transfer APR: 20.49% to 26.49% 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: 29.49% 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 each transaction in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $35
- You have an existing balance you want to pay down over the first year after opening an account
- You want to earn a $30 bonus after spending $600
- You don’t want to pay an annual fee
AmTrust Platinum Edition Card Review
The Platinum Edition Visa is balance transfer credit card from AmTrust Bank. AmTrust, a division of New York Community Bank, is a Cleveland, Ohio-based financial institution that also operates branches in other Ohio cities, as well as Florida, Arizona, and elsewhere. The Platinum Card is especially adept at balance transfers, featuring a special 0% introductory period on APR for these transfers.
Enjoy 0% Intro APR on Balance Transfers
The AmTrust Platinum Edition Card comes with an excellent introductory APR on balance transfers: 0% for the first 12 months. 0% intro APRÂ for over a year is always pleasing on a low APR card, as it allows the new accounts to transfer over existing balances and quickly pay them down without incurring any interest payments.
Typical APR Varies Considerably
As with most credit cards, the interest rates with the Platinum Card vary significantly, depending on the creditworthiness of the applicant.
For those with an excellent credit score, the APR with the Platinum is very competitive, though not remarkable. The lowest rates toe the line with the average APR for low rate cards, hovering around the 16% mark. This interest rate makes the card an enticing option, especially if the existing balance transferred over requires more than the initial 12 months to pay down.
The APR for those with a credit score in the 600s, however, will probably be somewhere in the 20% range. This interest rate obviously is not favorable carrying balances after the intro window closes. That’s not to say that the card isn’t a decent option for those with average to good credit scores; they will need to be wary of the APR once the 12 month period ends.
$30 Bonus After Spending $600
Maybe you have plans to make a big purchase within the first three months. If you’re planning on spending at least $200 per month in the first three months of having your AmTrust Platinum Edition Card, you get a $30 bonus! It’s extra cash in your pockets for spending money you would have spent anyway.
Other Features
AmTrust Bank Cards comes with protections designed to take the worries out of using the cards. Cardholders can expect Visa’s Zero Fraud Liability protection, plus emergency services such as card replacement and cash disbursement. When traveling, Visa provides Auto Rental Collision Damage Waivers, providing additional coverage if a rental car is lost, stolen, or damaged, plus pay-per-use Roadside Dispatch.
Should You Apply for the AmTrust Platinum Edition Visa Card?
Balance transfer credit cards serve a valuable purpose – one that the New York Community Bank family of banks understands.
The 0% introductory APR on balance transfers for 12 months is a great perk of the AmTrust Platinum Edition Card, especially as many intro periods often range from 9 to 12 months instead. While the normal APR isn’t great once the intro period concludes, the 12 months ensure that issues are likely to be minimal.
