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The American Pacific Bank Gold Mastercard was last reviewed on 8th March 2005
Summary - The American Pacific Bank is a basic credit card with no rewards. However, it comes with an annual fee which is not appealing considering most credit cards these days have no annual fee. Find out more.
Fees and Rates - Though there is no annual fee for the first year, the annual fee on subsequent years is $18.00 The APR is 3% lower than the visa classic at 16.92%. The American Pacific Bank Gold Mastercard gives a 25 day grace period and uses the average daily balance method (including new purchase) of calculating balances.
Application Criteria - American Pacific Bank also states clearly and comprehensively on their website the criteria for one to apply for this credit card. Amongst them is a minimum income of $12,000, Debt to income ratio of no more than 40%, no bankruptcy, foreclosure and a few more criteria.
Verdict - I wouldn't recommend this card because it is a basic card that has an annual fee! The apr is not particularly low as well to justify charging the annual fee. Those looking for a basic credit card should consider getting one from the major credit card issuers. You may want to consider the Citi® Platinum Select® Card or the Chase Platinum Visa® Card.
Update - American Pacific Bank has been bought by Riverview Bancorp. Riverview Bank has no credit card lineup at the moment.
NegativesHigh APR$19.00 annual fee from second year onwards
| American Pacific Bank Visa Classic |
| Cost/Fees/Interest rates |
| Annual Fees |
No annual fee for first year, then $35.00 thereafter |
| Purchase APR |
Fixed 16.92% |
| Grace Period |
25 days |
| Balance Calculation Method |
Average Daily Balance (including new purchases) |
| Cash Advance fee |
3% min $10.00 |
| Over-the-credit-limit fee |
$25.00 |
| Late Payment fee |
$25.00 |
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