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Date Reviewed: January 08, 2020
ABOC Platinum Rewards Mastercard®
- Regular Purchase APR 12.9% to 22.9% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 12.9% to 22.9% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 24.99% variable based on the Prime Rate
- Annual Fee None
- Credit Needed Excellent
- Intro Purchase APR 0% for 12 months from account opening date
- Processing Network Mastercard
- No annual fee
- No foreign transaction fees
- 1X points per dollar spent
- 0% intro APR on purchases for 12 months
- Intro Purchase APR: 0% for 12 months from account opening date
- Regular Purchase APR: 12.9% to 22.9% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 12.9% to 22.9% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each balance transfer, whichever is greater
- Cash Advance APR: 24.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Late Payment Penalty Fee: Up to $35
- Return Payment Penalty Fee: Up to $25
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About Amalgamated Bank of Chicago
Amalgamated Bank of Chicago (ABOC) is an Illinois-based financial institution with its headquarters in Chicago. The bank traces its roots back to 1922 as Amalgamated Trust & Savings Bank. The name changed to its current name (Amalgamated Bank and Trust) in 1991.
ABOC only has two locations: one on Downtown Chicago and another branch in Warrenville, Illinois. The Chicago branch also serves as the bank’s headquarters.
Amalgamated Bank (as it is also known) retains a union presence, in keeping with the bank’s ethos. While it is no longer majority union-owned, as it was in the middle of the 1900s, it still retains a 5% ownership by labor groups.
Amalgamated Bank Credit Cards
Amalgamated Bank issues several credit card products for customers across the United States. Two lesser-known ABOC credit cards are the ABOC Secured Gold Mastercard and the ABOC Standard Mastercard. Both cards feature the global purchasing power of the Mastercard network and are great options for those with an average credit score.
The secured Amalgamated Bank card is ideal for anyone looking to rebuild their credit score. Bad credit can be challenging to overcome, but like other secured credit card offers, the ABOC Secured Card can help raise credit scores with sound financial practices and on-time payments.
ABOC Platinum Rewards Mastercard
The ABOC Platinum Rewards Mastercard is probably the most well-known credit card from ABOC. The card is a 5% cash back rewards card, like the Discover It and Chase Freedom.
The ABOC Rewards Card is an excellent option for those that want something different than the same-old cash back rewards card. The ABOC Rewards card comes with exceptional introductory bonus offers and a rotating 5X calendar.
ABOC 5X Calendar for 2020
April through June 2020:
- Public transportation
July through September 2020:
- Travel, including flights, hotels, car rentals, etc.
- Transit, including rideshares, public transportation, gas, etc.
October through December 2020:
- Online shopping
- Box stores, like Costco or Walmart
- Electronic stores
- Department stores
FAQs About ABOC
Here are some of the most frequently asked questions about Amalgamated Bank and ABOC credit cards:
What banking services does ABOC offer?
- Amalgamated Bank of Chicago provides a full suite of banking services for both personal and business needs. These services include checking accounts, savings accounts, loans, IRAs, personal money markets, and more.
What credit report does ABOC pull?
- ABOC currently pulls your Experian credit report when you apply for a credit card. The exact report the bank pulls, however, depends on the state where you reside, so always check with the bank first if you have any questions.
Where does ABOC have branches?
- Amalgamated Bank currently features only two locations: Chicago and Warrenville, Illinois.
How do ABOC Rewards work?
- ABOC Rewards is the rewards program for the bank. Cardholders earn points with ABOC Rewards Card purchases. Points are redeemable for a variety of awards, including travel, merchandise, statement credits, and more.
What are ABOC Rewards points worth?
- The current value of ABOC rewards points is approximately one center per point. The precise value of points depends on the method of redemption, however.
What credit score do you need to get an ABOC credit card?
- The ABOC Rewards Mastercard requires an excellent credit score. The Amalgamated Bank Secured card requires no credit history, making it a great choice for those with bad credit.