Payment Card News

Platinum Rush

514 0

The number of platinum VISA and MasterCards is approaching 15 million nationwide representing a 1000% increase from eighteen months ago, according to the February issue of CardTrak. The platinum war has escalated to the point where at least one card issuer has a titanium card in testing. CardTrak says the go-to interest rate is averaging 14.83% while the most commonly offered intro rate is 5.9%. MBNA has also selectively offered intro rates of 3.9% and 4.9%. People’s Bank is offering the lowest go-to platinum rate of 11.9%.

PLATINUM PLAYERS
Advanta
AT&T Universal
Bank of America
Banc One
Capital One
Chase Manhattan
Citibank
First Bank
First Chicago
First USA
MBNA America
NationsBank
People’s
Providian
Wells Fargo
Wash Mutual
First Natl Omaha
Source CardTrak, Feb 98

Leave A Reply

FREE MONEY SAVING TIPS!
Your Information will never be shared with any third party.