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American Nurses Association Platinum MasterCard | Do You Enjoy High APRs?

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The American Nurses Association Platinum MasterCard says that it offers a flexible rewards schedule. We shall see. It also promises solid performance and various other benefits. Let’s take a look at the benefits, the interest rates, the transaction fees and the rest of the details associated with this rewards credit card.

No annual fee for the American Nurses Association Platinum MasterCard

That’s right: there’s no yearly membership fee for the American Nurses Association Platinum MasterCard. However, that doesn’t really mean so much. It’s nice, but it makes up for the lacking annual fee by jacking up its APRs and fees (discussed below). For most credit card owners, they would happily pay a fair annual fee, say $100, for a card that provided:

  • Superior customer service;
  • Fair transaction fees;
  • Low APRs;
  • Innovative, valuable rewards plans;

So how does the American Nurses Association Platinum MasterCard stack up when judged on those criterion? Not so good really. I always attempt to be unbiased about each card reviewed. But, almost unfailingly, when the details are uncovered, I am unimpressed, and many times even angered. The fact remains that all credit cards are generating so much profit that it’s obscene.

It just seems like they should offer so much more, or charge so much less than they do. So when one card offers a 13.99% APR for balance transfers, and a competitor offers 14.76% on the same, does it really even matter? It does not. It doesn’t because when one is better than the other in one respect, the other is better than the first in a different respect. And it goes on and on between all the credit cards out there in the market. So whoopee: there’s no annual fee. Next?

Fees and APRs for the American Nurses Association Platinum MasterCard

There are two account types for the American Nurses Association Platinum MasterCard. The one you will get depends on your credit merit and history. Type I has a 19.99% APR for general purchases and balance transfers. Type II features a lovely 23.99% APR for the same. The APR for cash advances, with either account type, is 26.99%. The penalty APR is 29.99%, like most cards. It’s said that you will always have at least 23 days grace in which to make your monthly payments. If you do incur any interest charges, there will be a minimum of $2 per statement period.

The transaction fees for the American Nurses Association Platinum MasterCard are just about like every other credit card out there: high. Balance transfers and cash advances both have attached fees of either 4% of the transaction amount, or a flat $10. Of course, the fee will be the greater of these two possibilities. Foreign transaction fees will be 3% of the amount. If you make a payment late, or have a payment returned, then there will be a $35 fee assessed, per incident.

Credit Score Required for the American Nurses Association Platinum MasterCard

What credit score do you need to get approved for the American Nurses Association Platinum MasterCard? Well, the site says 714 is the lowest, but that would be for the Type I card. Many credit card issuing companies offer a lesser version of the same card, for those with not-as-good credit. That way, the company gets to milk both groups for those profit-driven transaction fees.

Now, I’m not picking on the American Nurses Association Platinum MasterCard. I am simply stating a known fact that credit cards, in general, make tons of cash off the cardmembers. They all offer some “rewards”. They all have high APRs and fees because that is exactly what fuels their profits. They make hundreds of millions annually by continually acting like they are rewarding us!

Rewards Program for the American Nurses Association Platinum MasterCard

The rewards program for the American Nurses Association Platinum MasterCard is maintained via Loyalty Innovations. In a nutshell, you earn one point for every dollar you spend. The most attractive redemption option I see is that you can redeem 6000 points for a $50 gift card. Otherwise, industry experts estimate the value of each point at 0.83 cents; less than a penny each. Research all the details by starting at the GE Capital Retail Bank’s page here.

Customer Service for the American Nurses Association Platinum MasterCard

Well, it always comes down to this. Since it seems there are no credit cards available, even to those with excellent credit, that offer any real fairness in their fees schedules. So you still need a credit card, right? So you have to accept these incredulous fees and rates. About the best you can hope for is to get a card that is maintained by a company that cares (or at least acts like it anyways). So, let’s see. Be right back…

They flunked. I’m just being honest. In fact, every time I research one of the branded rewards credit cards from GE Capital Retail Bank, the results are always very similar. Their cardholders do not feel appreciated. They do not feel they are being treated fairly. And they wish they would have got different cards instead. Generally, they want to scream.

The Bottom Line about the American Nurses Association Platinum MasterCard

There are just so many rewards credit cards available to consumers these days. You need to have demonstrated consistently good credit practices, and have a pretty darn nice credit score to get approved here. So, for that, you should be able to rightfully expect some services and benefits in return, especially when you consider the real profits these credit cards generate. 4% here for Joe; $10 there from Mary Jane – all day, every day. So would I say that you should apply for this card?

Well, let’s see: The American Nurses Association Platinum MasterCard has high rates, high fees, so-so rewards (like all of em) and lacking customer love standards. So, do I recommend this card? No.

 

 

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