Reviews First National Bank of Omaha Platinum Edition MasterCard review
First National Bank of Omaha Platinum Edition MasterCard review

First National Bank of Omaha Platinum Edition MasterCard review

Published: January 5, 2017
Advertiser Disclosure
Ratings Policy
Balance Transfer Rating:
3.1 rating
3.1 rating
3.1 / 5
Introductory Offer: 3.0
Net Value: 4.4
Features: 2.0

In a nutshell:

This plain vanilla MasterCard offers a low minimum interest rate for cardholders with the best credit scores and a reasonable balance transfer fee; but its 0 percent balance transfer offer is shorter than many of its competitors.

0% Introductory Period
12 billing cycles

Transfer Fee
$10 or 3% (whichever is higher)

Introductory Purchase APR
0%

Regular APR
10.24-20.24%

Annual Fee
$0

Other Notable Features: Travel accident insurance, purchase protection, Free FICO 8 Bankcard score

Low Interest Rating:
3.8 rating
3.8 rating
3.8 / 5
Rates, Fees, Penalties: 4.1
Rewards: 0.0
Features: 2.0

In a nutshell:

The Platinum Edition MasterCard Card is a good low-APR card with a decent set of useful benefits.

Regular APR
10.24-20.24%

Introductory Purchase APR
0%

Introductory Balance Transfer APR
0%

Fees

  • No annual fee
  • 3% or $10 balance transfer fee (whichever is higher)
  • 3% foreign transaction fee
  • 25.24% cash advance APR
  • 5% or $10 cash advance fee (whichever is higher)

Penalties

  • $37 late payment fee
  • No penalty APR
  • $35 returned payment fee

Other Notable Features: Travel accident insurance, purchase protection, Free FICO 8 Bankcard score

This offer is no longer available. For recent reviews, visit our balance transfer card section.

If you have excellent credit, the First National Bank Platinum Edition MasterCard Card offers you a 10.24 percent interest rate, which is very good compared to the average credit card rate of 14.96 percent. In addition, the card comes with no annual fee, zero-percent APR for both balance transfers and purchases for 12 months, a free FICO score, and no penalty APR.

Low interest rate

In a world where a double-digit interest rate is the norm rather than the exception, the Platinum Edition MasterCard Card’s 9.9 percent rate is a welcome deviation from business as usual. There are better low interest rate cards, but in combination with the other features on the card, the rate is a pretty good deal.

Introductory zero percent APR period is good, but short

You get an introductory zero percent interest rate for both balance transfers and purchases for 12 months, which makes it useful for debt consolidation as well as paying off a big-ticket item over time. But be sure to make at least minimum payments by the due date without fail, or you can lose your zero percent APR in a heartbeat.

No penalty APR

The card offers an average mix of fees and penalties. There is a $37 fee for late payments, which is not small change. On the upside, there’s no penalty APR. Credit cards often increase your APR quite dramatically for even one violation, costing you hundreds of dollars in the long run. With the Platinum Edition MasterCard Card, your rate will remain low even if you make a mistake.

Free FICO Score

You get free unlimited access to your true FICO credit score so you can stay on top of your credit.

Purchase protection

Items purchased with the Platinum Edition MasterCard Card are eligible for purchase protection benefits. They will be replaced, repaired or reimbursed if lost or damaged within 90 days of the date of purchase, for up to $1,000 per claim.

Reasons to get it:

  • You routinely carry a balance and could use a 9.9 percent APR credit card with no annual fee.
  • You want to consolidate your debt and/or pay for a big-ticket item within a 12-month period.
  • You are not interested in cash back or rewards.

How to use it:

  • If you take advantage of the zero percent introductory APR, make sure to pay the balance off in full or as much as possible within the first 12 months.
  • Avoid using this card overseas due to the 3 percent foreign transaction fee.

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information. 

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