BancorpSouth Platinum Mastercard®

BancorpSouth Platinum Mastercard® Review

This is a rewards credit card issued by BancorpSouth. If you're wondering whether BancorpSouth Platinum Mastercard® is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.

• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 6 months.
• Competitive APRs. BancorpSouth Platinum Mastercard® has a variable purchase APR that ranges from 10.9% up to 16.9%.
• No annual fee*. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. BancorpSouth Platinum Mastercard® charges a fee of 3% on balance transfers. For example, a balance of $1,000 could cost $30 in transfer fees. The minimum fee is $10.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 2% every time you make a transaction outside the U.S.
• Multiple credit card benefits. Includes generous credit card perks, such as extended warranty protection on purchases, identity theft protection, price protection, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 600.

The Good	The Bad
Potentially lower than average purchase APRs. 0% APR on new purchases during the first 6 months. No annual fee. Multiple credit card perks. Extended warranty and price protection on purchases. Identity Theft Protection. Considers applicants with fair or poor credit. Cardholders can earn rewards on their purchases. BancorpSouth Platinum Mastercard® reports to multiple credit bureaus.	Does not offer a signup bonus. Charges a foreign transaction fee of 2%. You don't earn rewards on every purchase. Charges a 3% balance transfer fee.

Does BancorpSouth Platinum Mastercard® have a cash back or rewards program?

BancorpSouth Platinum Mastercard® is a rewards card.

BancorpSouth Platinum Mastercard® Rewards

Rewards rate (all purchases)	N/A
Max rewards rate	N/A
Annual rewards limit	N/A

What are the BancorpSouth Platinum Mastercard® benefits?

It provides the following benefits:

• Extended Warranty Protection
• Zero fraud liability
• Price Protection
• Reports to major credit bureaus

What are the relevant APRs for BancorpSouth Platinum Mastercard®?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

BancorpSouth Platinum Mastercard® has a variable purchase APR that ranges from 10.9% up to 16.9%. The card has a variable balance transfer APR that ranges from 16.9% up to 21%. It also has a variable cash advance APR that ranges from 16.9% up to 21%. Note that late payments are subject to an APR of 21% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What are the fees for BancorpSouth Platinum Mastercard®?

The following fees apply:

• There is no overlimit fee

BancorpSouth Platinum Mastercard® Fees

Fees	Amount
Annual Fee	$0
Overlimit Fee	$0
Foreign Transaction Fee	2%
Returned Payment Fee	up to $35
Late Payment Fee	up to $35

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost rewards card.

Does BancorpSouth Platinum Mastercard® report your account activity to credit bureaus?

Yes, BancorpSouth Platinum Mastercard® reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for BancorpSouth Platinum Mastercard®

• Visit the BancorpSouth Platinum Mastercard® website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.