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  BancorpSouth Platinum Mastercard®

BancorpSouth Platinum Mastercard®

in Personal Credit Cards from BancorpSouth

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BancorpSouth Platinum Mastercard®

Unaffiliated

in Personal Credit Cards from BancorpSouth

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Highlights
Purchase APR  (Variable APR) 10.9% - 16.9%
Balance Transfer APR  (Variable APR) 16.9% - 21%
Credit Score Range 600 - 850
Annual Fee $0

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.

Key Takeaways
  • 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.
Pros & Cons of BancorpSouth Platinum Mastercard®
The Good The Bad
  • 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.
BancorpSouth Platinum Mastercard® FAQ

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

Does BancorpSouth Platinum Mastercard® have a signup bonus?

This card doesn't offer a cash signup bonus.

Does BancorpSouth Platinum Mastercard® offer an annual loyalty bonus?

This card doesn't offer a cash loyalty bonus.

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. It has lower than average regular APRs.

It 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.

Does BancorpSouth Platinum Mastercard® have an intro APR offer on balance transfers?

No, it does not come with an intro APR offer for balance transfers.

Does BancorpSouth Platinum Mastercard® have an intro APR offer on new purchases?

BancorpSouth Platinum Mastercard® Purchase Intro Offer
Description
Introductory Rate 0%
Purchase Intro APR Period 6 months

This card does offer an intro APR rate of 0% on qualified purchases for a period of up to 6 months.

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® have a foreign transaction fee?

BancorpSouth Platinum Mastercard® charges a foreign transaction fee of 2%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $40. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge foreign transaction fees.

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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   201 S Spring St
    Tupelo, MS 38804
  •   Visit Site

About BancorpSouth Platinum Mastercard®

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Availability

  Available in 1 state
Mississippi
Availabile in all of Mississippi

Feature Breakdown

Introductory Rate 0%
Purchase Intro APR Period (Variable APR) 6 months
No Annual Fee
Annual Fee $0
Over-Limit Fee $0
No Interest Grace Period for Late Payment 25 days
Cash Advance Fee Minimum $10
Cash Advance Fee (%) Starting at 3%
Minimum Cash Advance Fee ($) $10 - $60
Foreign Currency Transaction Fee 2%
Minimum Interest Charge $0.50
Returned Payment Fee Up to $35
Late Fee Amount Up to $35
Customer Type Personal
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 600 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Extended Warranty Protection
  • Fraud Liability
  • Identity Theft Protection
  • Price Protection
Rewards Categories
  • Travel
  • Airfare
Cash Advance APR (Variable APR) 16.9% - 21%
Balance Computation Average daily balance (including new purchases).
Credit Limit Starting at $5,000
Penalty APR (Variable APR) 21%
Purchase APR (Variable APR) 10.9% - 16.9%
Balance Transfer APR (Variable APR) 16.9% - 21%
Balance Transfer Fee Minimum $10
Balance Transfer Fee % 3%
Card Type
  • Rewards
  • Low Interest
Card Network Mastercard

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