The Volkswagen Platinum Rewards Visa Card, which is issued by First USA, was created for individuals with very good credit who wish to participate in a rewards program.
(Review Date: September 10, 2012)
The Volkswagen Platinum Rewards Visa Card has a number of benefits that would be expected of a platinum credit card. For example, it offers travel accident insurance, auto rental insurance, and a variety of additional travel assistance services. It also provides emergency cash and card replacement, lost and stolen card reporting, and extended warranty for purchases. To protect cardholders, the card also provides a guarantee of no liability for unauthorized transactions.
In addition to all of the standard benefits the card has to offer, cardholders also enjoy a fabulous introductory offer. For the first year of membership, cardholders can take advantage of a 0% APR on both purchases and balance transfers. After the introductory period is complete, the APR is variable and based on the Prime Rate.
The Volkswagen Platinum Rewards Visa Card offers an outstanding reward program to its Volkswagen-loving cardholders in addition to its standard benefits. With the program, cardholders earn one point for every dollar they spend toward general purchases. They also receive two points for every dollar they spend at participating Volkswagen locations. The points can then be redeemed on gift certificates, merchandise, or travel. The points can even be redeemed for cash. For an innovative twist, cardholders can also utilize their earned points to help pay their Volkswagen car loan. Cardholders can earn unlimited points with their credit card each year. The points will, however, expire after five years if not used.
The Volkswagen Platinum Rewards Visa Card does not have an annual fee and it is free to add additional cardholders to the account. Finance charges are determined with the card using the Two Cycles Average Daily Balance method rather than the more common Average Daily Balance method. This can be more costly for those who carry a balance on their credit card from one billing period to the next. The maximum potential credit line a person can receive with the card is $100,000 while the minimum is $5,000. There is a $39 fee for those who go over their limit.