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The Platinum Plus Card was last reviewed on 12th March 2007
Summary - The Platinum Plus Card is a catalog credit card that is designed for those who are looking to establish or reestablish their credit. However, there are limitations to using this card because you can only use it at usashoppingclub.com. Is this the right card for you? Read further to find out.
Fees - There is a one-time application fee of $149.95. Otherwise, there is no annual fee, maintenance fee, interest charges or transaction charges. Hence, aside from the one-time application fee, the ongoing maintenance cost is lower than most credit cards in this category. If you carry a balance, you have to pay either the greater of 15% of the balance or $25.00 for your monthly payment.
Catalog Credit Card, Not Regular Credit Card - Remember that this is not a visa or mastercard and that you can only use this credit card to purchase merchandise at usashoppingclub.com. You can get an unsecured credit line of up to $7,500. Your monthly payments will also be reported to one major credit bureau. (note that the terms and conditions does not specify which one).
Application Criteria - Though there are no credit or employment checks, you need
to be discharged from any bankruptcy to qualify
Verdict - If you have very bad credit, or just been discharged of a bankruptcy and want to rebuild your credit, I suggest getting a secured credit card instead that reports to the three credit bureaus, has low annual fee and most importantly allows you to use it anywhere like a regular credit card.
If you need a larger unsecured line of credit and can live with the limitations of a catalog credit card, then perhaps the Platinum Plus Card is worth checking out.
Positives
No annual fee and monthly processing fee
No transaction fee
Negatives
Can only use card at usashoppingclub.com
| Platinum Plus Card
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| Cost and Fees
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| One-time Application Fee |
$149.95 |
| Fees for late payment |
$10.00 |
| Fees for Returned checks |
$20.00 |
Apply for the Platinum Plus Card
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