Chase Subaru® Platinum MasterCard®

• 0% Introductory APR on purchases and balance transfers for up to 6 months
• No annual fee
• 3% Rewards on all purchases (up to $500/yr)
• Redeem for Subaru merchandise and services

Issuer : Chase Manhattan Bank

APR : 0% Introductory APR on all purchases and balance transfers

Introductory Period : 6 months

APR After Introductory Period : 14.24% variable

Cash Advance Rate : 24.24 % variable rate on cash advances

Annual Fee : $0

Credit Line Possible : The maximum credit available when you apply for a  Subaru Platinum Mastercard From Chase depends on your credit rating and an evaluation of your personal wealth.

Insurance included :  The Subaru Platinum MasterCard From ChaseIncludes extended car rental and warranty coverage on services and purchases for up to a year.

Financing Configuration - The finance charges applied use the "Two Cycles Average Daily Balance" method, which is a more costly for the cardholder compared to the "Average Daily Balance" method used by most card issuers.

Grace Period - You have twenty days after making a purchase during which you do not have to pay interest on account.

The Best Thing About It - Through the reward program, a 3% rebate (which high for a card of this type) is earned on all general purchases made with the card. Earned rebates can be redeemed toward the purchase or lease of a new Subaru vehicle, Subaru accessories, or regular servicing (such as oil changes) at an authorized Subaru dealership.

The Worst Thing About It-The way the interest on your The Subaru Platinum MasterCard From Chase is calculated is more costly than with other cards and the regular advance rate is very high at 24.24%.  There is also an annual limit to the points you can earn.

Credit Rating Needed For Acceptance : Good.

Who Is It For?

The Subaru Platinum MasterCard from Chase is designed for those with very good credit who plan to purchase or lease a Subaru vehicle within a four-year period.

The Benefits

The rewards program is generous. A $100 coupon is issued for every $3,333 spent on the card.

You get a first purchase bonus.  You are immediately rewarded with 17,500 miles when you are first issued your The Subaru Platinum Mastercard From Chase.

Duplicate cards are free. You are not charged for additional cards.

Keep track of all of your business expenses online. You are also able to monitor what goes on in your account with full access to an online account report.  A full expense report can be requested at the end of the year.

You have theft or card loss protection.  Emergency card and cash replacement is part of your credit card agreement.

You have ample travel insurance. The card has auto rental insurance, roadside assistance and a car rental damage waiver.

You can benefit from extended warranty protection. If a product fails you have warranty protection up to $300 as long as you apply for this within a year of purchase.

The card has zero liability for fraud.  If you claim someone has stolen your card then you do not have to be liable for the usual $50 that is usually deducted.

The Drawbacks

There is a cap on the points you can earn.  There is a maximum of $2,000 that can be earned in total rebates within the four-year period,

The points will expire. You must redeem miles within a four-year period or lose them.

The introductory rate for is not guaranteed. If you make a late payment on any bill, not just your credit card bill, your introductory 0% rate can be replaced with the much more expensive prime rate. The bank also reserves the right to abort the introductory period if you do not make a timely or full payment.

No APR is guaranteed with this card. APRs may change to higher APRs, fixed APRs may change to variable APRs, or variable APRs may change to fixed APRs at the credit card company's whim and discretion.

All payments you make to your account will be applied to lower rate balances first. This makes it easy to get into debt.

The introductory rate can be cancelled at the discretion of the Chase Manhattan Bank. You will lose your introductory rate if you exceed your credit limit or are late with a payment or if there is a negative comment on your credit report.

It is way too costly to carry a balance on this card. Thanks to the way the interest is calculated it could be a very expensive card if you did not pay it off in total each month.

Fees To Watch Out For

Late payment fee :  $15 on balances up to $100; $29 on balances over $100 up to $250; $39 on balances over $250

Over The Limit fee : $30

Cash advance Fee : 3%, $10 minimum

Balance Transfers : 3%. $5 minimum, $75 maximum

To Summarize -

Those who are not certain whether or not they plan to purchase a Subaru vehicle in the near future may want to think twice about obtaining the Subaru Platinum MasterCard From Chase card, as the $100 in coupons cannot be redeemed for any cash value. The APR is also quite high so you would not want to carry a balance on this card for too long.