MidAmerica Bank Credit Card
MidAmerica bank (1) offers the traditional services of a financial depository institution, including the receipt of monetary deposits (4); the financing of residential housing, commercial (5), and consumer loans (3); and other types of credit transactions (2).
MidAmerica Bank Credit Cards: There are two credit cards from this institution: Visa Platinum credit card and the Visa Platinum Rewards. We will study both products in detail and compare them with similar competitive products.
MidAmerica Visa Platinum credit card
MidAmerica Visa Platinum credit card: This credit card offers the following features:
0% annual percentage rate in balance transfers for 12 months where the balance transfer must be a minimum of $500.
For any new card, for any new Visa Platinum Credit card from MidAmerica you will enjoy one year, actually 12 billing cycles at 1.99% APR this is practically 2% APR for one year. After these 12 billing cycles the APR will fluctuate according to your creditworthiness.
The annual percentage rate after the first year will be from 8.9 APR to 13.98 APR so almost a maximum of 14% APR. As we mentioned, these percentages depend on the creditworthiness of the cardholder.
The balance transfer fee does not pay any APR for 12 months, however, any balance transfer performed should pay $10 or 2% of the amount of each balance transfer whichever is greater so you’re not paying APR but you are paying a lump sum of $10 or 2%.
This balance transfer benefits would not be repeated if you have another credit card for the same bank, as we have informed already in our article about having two credit cards in the same bank.
This MidAmerica Visa Platinum has other advantages. You do not have to pay an annual fee, you do not have to pay any maintenance fee, like for example a monthly maintenance fee.
As it is a Visa, it all the features that Visa cards have, to protect the credit card from any fraudulent activity.
Payments and Interest
MidAmerica Visa Platinum Cards offer the possibility to avoid the payment of interest in the case of purchases. The due date is twenty-five days after the closure of the billing cycle. You can avoid paying interest on the purchases of that billing cycle. This can be achieved if the entire balance of the credit card for that billing cycle is honored before the due date each month due date, that as we said is 25 days after closing the billing cycle.
Fees: Penalty and Transactional Fees
Now let’s talk about the fees: I refer to annual fees, penalty fees, and transactional fees.
As we mentioned above there are no annual fees for any credit card from MidAmerica. There are no annual fees for the Visa Platinum or the Visa Platinum Rewards from MidAmerica.
Then you have the penalty fees that are for a late payment and for a return payment. In both cases, the penalty fee is $25.
Now let’s talk about the transaction fees. There are two kinds of transactional fees we want to evaluate now that are the foreign transactions and the cash advances. For the following transaction you must pay a 1% transaction fee of the transaction amount. For the cash advances, there is no transaction fee.
Visa Card Protection For MidAmerica Bank Credit Cards
As we discuss in other articles when we refer to Visa credit cards independently of who is the issuer, in this case, it is mid-America, we normally mention several ways you have to protect your account with diverse functionalities.
As soon as the MidAmerica credit cards are issued to you, it is advisable to enroll in the Visa Purchase Alerts Program. In this way, you will receive real-time information about any expense done with your card so you can identify if there is any fraudulent activity quite quickly.
Online Balance Information For MidAmerica Credit Cards
As with many other credit cards, you can know your real-time balance in ezcardinfo.com. You have access too to this portal with any of the credit cards from MidAmerica.
MidAmerica Visa Platinum Rewards
And there is another product to talk about. This is the MidAmerica Visa Platinum Rewards that is very similar to the MidAmerica Visa Platinum discussed thoroughly earlier.
There are two main differences: It has a higher APR and it allows you to access to rewards for qualifying purchases. However, in principle, you can have both credit cards.
With the MidAmerica Visa Platinum Rewards, after the 12-month billing cycles there is an APR starting from 9.9% instead of 8.9% of the MidAmerica Visa Platinum. So, Platinum card will have after the first twelve months an APR that goes from 9.9 to 13.90% while the Platinum Rewards is exactly the same but only that is starting from a 9.9% APR. Therefore, if you have a good credit you would be having for the platinum are very good APR of 8.9%.
Compare this with the First Choice Mastercard Gold, that would offer you an 8.75% fixed rate APR in the cases that you have a high score and also has the rewards and cashback program included.
And now comes the real advantages of the MidAmerica Visa Platinum. For this credit card you have access to a program from Visa that is called Scorecard Rewards. Each qualifying purchase that you perform with this MidAmerica Visa Platinum credit card allows you to earn points that you can redeem later for merchandise and for travel awards. You can find information in scorecardrewards.com.