If you're looking around for the best 5%/5X points rewards cards, here's one that's definitely fits that category. Introducing the ABOC Platinum Rewards Credit Card – a card where you can earn valuable points toward rewards, travel, gift cards, or even cash (in the form of a statement credit) everywhere you use your card!
Upon approval, you have the opportunity to earn a $150 statement credit bonus after you spend $1,200 on purchases within the first 90 days from account opening. Aside from the bonus offer, one prominent feature that makes this card shine is the opportunity to earn 5x rewards!
Earn 5x rewards on up to $1500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive.
Since it is a Mastercard, you're able to reap the benefits that Mastercard offers such as zero liability for unauthorized purchases and more! If you're interested in what more this card has to offer, see below!
*The ABOC Platinum Rewards card is issued by Amalgamated Bank of Chicago. See their current Checking/Savings offers here.
Table of Contents
ABOC Platinum Rewards Credit Card Summary
|Bonus Available||$150 statement credit after you spend $1,200 on purchases within the first 90 days.|
|Ongoing Rewards/Benefits||Earn 5x rewards on up to $1500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive. All other purchases earn 1 point per $1.|
|Foreign Transaction Fees||Yes, 3%|
- No Annual Fee
- Good option for average credit
- Competitive bonus offer
- Has foreign transaction fees
Editor’s Alternate Pick
ABOC Platinum Rewards $150 Bonus
To get the $150 bonus, you will need to spend $1,200 on eligible purchases within the first 90 days of your account opening. This bonus is nearly standard amongst other top cards without an annual fee.
Actually, it's a pretty good offer for a credit card that only requires an average credit score.
Here are some ideas on meeting the spending requirement:
• Plastiq - Using Plastiq allows you to pay for your personal expenses such as rent, tuition, mortgage, auto lease etc. Although they charge a 2.5% processing fee for using your credit card, this will contribute to the card bonus that you will receive. There is also a referral program that allows you to earn "Free-Free Dollars" that goes towards processing fees as well.
• Funding Checking Accounts - When it comes to funding a checking account, opening your initial deposit with a credit card is the usual way to go about it. However, if you want to have more opportunities, you should open a checking account that offers a sign-up bonus. This allows you to work towards bonuses from not one but two different sources instead. Banks like Chase, Huntington Bank, TD Bank and BBVA offers credit card funding, and for your opening deposit, you can often fund anywhere from $50-$1000 with a credit card, depending on the bank.
• Gift Card Purchases With Using a Credit Card - Another way to acquire the bonus is using your credit card to purchase gift cards. Buying a a gift card or an individual merchant card typically do not require a purchase fee and are used towards leisure, so gift cards are ideal. However, gift cards such as a Visa or American Express do incur purchase fees because they can be spent anywhere, but gift cards that are specifically for a certain online shopping site such as Amazon or eBay don't.
As for a Citi Credit Card, you should call customer service and ask them to lower your Cash Advance limit to $0 before making any purchases because Citi tends to read gift card purchases as a Cash Advance.
Ideally, you should do this with any card just to be safe. Lastly, there is such thing as a discounted gift card which can be purchased on Raise or eBay. If you use a credit card often for everyday purchases, it can build your credit score that will contribute towards paying for things such as bills and taxes.
Why You Should Apply for This Card
Earn 5X points on up to $1,500 in combined purchases each quarter on rotating categories. Top cards like the Chase Freedom card also incorporate rotating rewards categories. The difference is the Chase Freedom requires Good credit or better.
You’ll need to register your card at ABOCRewards.com during the first half of 2019 for the bonus rewards. After July 1, 2019, you must activate the bonus each quarter.
Here are the categories:
2019 ABOC Platinum Rewards Bonus Rewards Categorires
|Quarter 1 (1/1/19 – 3/31/19)||Earn 5x points on qualifying grocery, pharmacy, and restaurant purchases. Must have a registered account at ABOCRewards.com.|
|Quarter 2 (4/1/19 – 6/30/19)||Earn 5x points on qualifying home improvement, home supply, warehouse and wholesale club purchases. Must have a registered account at ABOCRewards.com.|
|Quarter 3 (7/1/19 – 9/30/19)||Earn 5x points on qualifying airline, cruise, car rental, hotel, and travel agency purchases.|
|Quarter 4 (10/1/19 – 12/31/19)||Earn 5x points on qualifying automotive parts, service and repair purchases.|
Make purchases abroad without worrying about foreign transaction fees with the Virgin Atlantic World Elite Mastercard.
ABOC Rewards Program
The ABOC Platinum Rewards Mastercard offers a straightforward rewards program that is free to join and offers rewards everywhere you use your card. You’ll earn 1 ABOC Rewards Point for every $1 you spend on purchases wherever Mastercard is accepted. Use it for all of your everyday purchases and you’ll be amazed how quickly the points add up!
- New cardmembers automatically begin earning rewards from their first purchase!
- Access the ABOC Rewards website to view your balance, redemption options, and travel opportunities
- Every $1 in purchases = 1 ABOC Rewards Point
- Easily redeem online or by calling 1-800-927-0100
- Choose your rewards: statement credits, airline miles, merchandise, gift cards, or even a combination of rewards types
- No cap on the amount of rewards you can earn, and points never expire as long as your account is open and in good standing
- Earn rewards on every purchase made on the Card
- Earn 5x rewards on up to $1,500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive
- Get extra points by shopping with ABOC Rewards partners via abocrewards.com
- 24/7 online account access
- Gift points to other ABOC Rewards members
Why Choose ABOC?
For nearly 100 years, ABOC has fostered deep ties to their customers and their community. They serve the banking needs of countless businesses, organizations, institutions and individuals, many for multiple generations. These relationships are based on profound trust, in-depth understanding and highly personal and responsive service provided by their experienced bankers.
The most well-known cards offering 5% cash back rewards are Chase Freedom and Discover It. However, ABOC's choice of popular categories for the bonus definitely makes the ABOC Platinum Rewards Credit Card a competitive alternative.
Unlike the above cards, ABOC Platinum Rewards comes with built-in Mastercard benefits such as shopping protection, travel assistance, travel protection and much more. Considering these benefits plus flexible redemption options and no annual fee, you can't go wrong applying for this card.
For more options, see our list of Credit Card Promotions!
(Visit ABOC for more details)
What’s The Competition?
Below are some alternatives to the ABOC Platinum Rewards credit card you should consider.
Category Rewards For Good Credit
Alternative For Average Credit
With the Capital One® Quicksilver® Cash Rewards Card:
-One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
-Earn unlimited 1.5% cash back on every purchase, every day
-No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
-0% intro APR on purchases for 15 months; 16.24%-26.24% variable APR after that
-0% intro APR on balance transfers for 15 months; 16.24%-26.24% variable APR after that; 3% fee on the amounts transferred within the first 15 months
-Pay no annual fee or foreign transaction fees
|Simple High-Yield Checking||$500 Cash||Review|
|Discover Bank Online Savings||$200 Cash||Review|
|HSBC Premier Checking Member FDIC||$750 Cash||Review|
|HSBC Advance Checking Member FDIC||$350 Cash||Review|
|Huntington Asterisk-Free Checking®||$150 Cash||Review|
|Huntington 5 Checking||$200 Cash||Review|
|Chase SapphireSM Checking||$750 Cash||Review|
|Chase SapphireSM Checking||60,000 Points||Review|
|Chase Total Checking® + Chase SavingsSM||$350 Cash||Review|
|Chase Premier Plus CheckingSM||$300 Cash||Review|
|Chase College CheckingSM||$100 Cash||Review|
|Chase Private Client||$1,250 Cash||Review|
|TD Bank Beyond Checking||$300 Cash||Review|
|TD Bank Convenience CheckingSM||$150 Cash||Review|
|Discover Cashback Debit Account (Cashback Match)||$360 Cash||Review|
|Chase Total Business Checking®||$200 Cash||Review|
|Huntington Bank Unlimited Plus Business Checking||$500 Cash||Review|
|Huntington Bank Unlimited Business Checking||$400 Cash||Review|
|Huntington Bank Business Checking 100||$200 Cash||Review|
The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone.