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Hancock Bank Visa Platinum Credit Card – Best APR program in the market?


The Hancock Bank Visa Platinum Credit Card is a Visa rewards credit card issued by the Hancock Bank, which is a regional commercial and consumer bank located in cities mainly along the Gulf South from Texas to central Florida. A subsidiary of the Hancock Holding Company, the bank has locations in Louisiana, Mississippi, Florida and Alabama, and has steadily been rated as one of America’s most trustworthy banks.

Hancock Bank Visa Platinum Credit Card – the positives

The Hancock Bank Visa Platinum Credit Card is the perfect solution for cardholders to not only earn rewards on everyday purchases such as groceries and gas but also manage all their payments and expenses in a reward-earning, secure, flexible and convenient way. The issuing bank of the Hancock Bank-branded Visa Credit Cards is the Whitney Bank, which sponsors all and any reward programs and owns all approved credit card accounts. The card enables cardholders to earn 1 point for every $1 that they spend on qualifying Visa signature purchases made by their card. The points that cardholders quickly accumulate can be used and redeemed for a great number of products that matter to cardholders including access to high-quality merchandise, dinner and a movie for the perfect night out on town, home entertainment options, dedicated travel agents to help plan cardholders’ travel tips, travel packages for unique holiday getaways, gift cards for all favourite stores and even easy online redemptions. Cardholders have access to the Amazon.com gift card, Best Buy gift card and the Starbucks gift card. Entertainment options for redemption include a choice of Barnes and Noble Nook HD, iHome Triple-Charge Dual-Alarm Clock Radio and a Bose Lifestyle Entertainment System. Travel rewards include access to reservations at beach resorts, ski vacations, and weekend getaway cruises.

New cardholders of the Hancock Bank Visa Platinum Credit Card are automatically enrolled in the Hancock Points Plus rewards program as soon as they open their credit card accounts with the bank, and they are eligible to begin earning points from their very first transaction. The Hancock Bank Visa Platinum Credit Card points accumulated can also be redeemed for 1% cash back, the rewards of which can be directly deposited into the cardholders’ Hancock checking accounts, by check and or can be applied as statement credit to the credit card account. The card has a $5,000 minimum credit limit for cardholders.

The Hancock Bank Visa Platinum Credit Card offers the cardholders access to exclusive Platinum Visa benefits including emergency cash advances and immediate card replacement 24/7 if the cardholders’ cards are misplaced, lost or stolen. The card also provides for 24/7 emergency and travel assistance which include emergency messaging, medical and legal referral, transportation assistance, ticket replacement, lost luggage locators and translation services overseas. The card also covers the cardholders for purchase security protection which reimburses them for items bought by the card which have been lost, damaged or stolen, up to a maximum of $50,000 per cardholder and $500 per claim, and done within the first 3 months of purchase. The card also protects the cardholders from unauthorized and unsanctioned use under the Visa’s zero liability policy. The Hancock Bank Visa Platinum Credit Card also covers the cardholders for the warranty manager service which enables cardholders to extend the manufacturer’s warranties on the items bought with the card to a maximum period of up to 1 year. If that was not enough, the card also provides cardholders with baggage delay insurance and travel accident insurance up to an amount of $500,000, wherein cardholders are covered for accidental death or dismemberment during travel that has been charged to the card. Last but not the least, the card also provides for auto rental insurance which covers the cardholders for any loss, theft or damage to the car rentals charged to the card. Moreover, the card also allows cardholders to easily access their accounts online and offers customer services 24/7.

The Hancock Bank Visa Platinum Credit Card has a special introductory APR rate for new cardholders. The cardholders are eligible for 0% APR on purchases for the first 7 months of the cardholders opening the account, after which a variable APR rate of 12.99% which is indexed to the Wall Street Journal U.S. Prime Rate. As for balance transfers, cardholders are eligible for 1.90% introductory APR for the first 12 months of cardholders opening their accounts, after which a variable APR of 12.99% which varies with the market based on Prime Rate is applicable. The variable APR rate on purchases and balance transfers is extremely competitive as much lower compared to the other cards in the market.

What’s more is that all the above perks of the Hancock Bank Visa Platinum Credit Card come at no charge to the cardholders, as this card happens to be a no-annual fee card. Cardholders can find more details of the card here http://hancockbank.com/personal/personal-credit-cards.asp.

The cons of the Hancock Bank Visa Platinum Credit Card

Although the card offers an extensive rewards program along with the perks of being a no-annual fee Platinum Visa card, the card falls a little flat compared to its competitors in the market. For example, the Chase Freedom card is also a no-annual fee card with multiple opportunities for cardholders to earn reward points, and does not only have the simple and straightforward 1% reward earning program like the Hancock Bank Visa Platinum Credit Card. Even the Capital one Venture One rewards no-annual fee credit card offers an extensive travel, dining, hotel and other rewards program. On the other hand, the rewards program on the Hancock Bank Visa Platinum Credit Card appears to be rather restricted and does not provide cardholders with enough opportunities to earn points faster. This means that for any sort of redemption opportunities, cardholders have to wait a lot while in order to accumulate points in order to redeem them.

However, for a no-annual fee card, the Hancock Bank Visa Platinum Credit Card has an unparalleled introductory APR program where the rates are much lower than the minimum rates of 14% and 23% of its other competitors. In the end, the card is a trade-off between the speed of earning rewards and the excellent APR program, and cardholders should research their choices before zeroing in on one.

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