ABOC Platinum Rewards Review

Amalgamated Bank of Chicago (ABOC) revamped the ABOC Platinum Rewards Mastercard in January 2019 to earn 5x rewards on rotating categories each quarter you activate.

ABOC Platinum Rewards Mastercard®

Key Features

  • Annual fee: $0

  • Welcome offer: $150 after $1,200 in spend within the first 3 months of account opening

  • Earn 5% on up to $1,500 on rotating categories each quarter you activate

  • Earn 1% on all other purchases

  • No affiliation with ABOC required

  • No state/city requirement

Review: Is the ABOC Platinum Rewards Mastercard® Worth It?

The ABOC Platinum Rewards card earns 5x rewards on rotating select categories each quarter you activate.

The card has a welcome offer of $150 after $1,200 in spend within the first 3 months of account opening. If you obtain the $150, the return on spend is 12.5%.

ABOC Premium Rewards (Year 1)

  • Welcome offer = $150 after $1,200

  • Welcome offer time frame = first 90 days

  •  Return on spend = $150 / $1,200 = 12.5%

12.5% is an okay return on spend, but there are other cards on the market that offer $150 after $500 in spending.

Current Bonus Categories

The main benefit of the ABOC rotating categories is that they are different than the Chase Freedom and Discover It categories. You’ll need to evaluate if you can maximize each quarter.

ABOC Platinum Rewards 5X Calendar 2019
Q1 2019
January - March
- Dining
- Grocery
- Pharmacy
Q2 2019
April - June
- Home Improvement Stores
- Home Supply Stores
- Warehouse and Wholesale Clubs
Q3 2019
July - September
- Airline
- Cruise
- Car Rental
- Hotel
- Travel Agency Purchases
Q4 2019
October - December
- Qualifying Automotive Parts, Service, and Repair Purchases

If you can maximize each quarter and spend $1,500 in the combined categories, you’ll earn 7,500 points (per quarter).

  • 5x on up to $1,500 (1x afterward)

  • 5x * $1,500 = 7,500 points

Value of ABOC Reward Points

When you redeem points for a statement credit, the points are only worth 0.75 cents per point (CPP).

The points are worth 1 CPP when you redeem points for travel on the ABOC Travel Portal.

  • 0.75 CPP = statement credit = 3.75% Return on Spend (ROS)

  • 1 CPP = travel = 5% ROS

Final Thoughts

If you’re just starting out with credit, there are better 5% category cards out there, especially if you want flexible points that are worth at least 1 CPP regardless if you cash them out as a statement credit or redeem for travel.

The ABOC Platinum Rewards card is ideal for people in the mid-game that have a few cards under their belt.

I recommend getting the ABOC Platinum Rewards after obtaining cards from other issuers that have restrictive rules like Chase (5/24 Rule).

If you’re someone that doesn’t mind keeping track of 5x categories, the ABOC Platinum Rewards is a keeper/foundation card since it doesn’t have an annual fee and offers decent benefits.

Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities. 

UGC disclosure: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.”