[Afscme] Atlas Credit Card Review: Fees, APR, Rewards and Approval Odds

[pressreleases101]

The Atlas Credit Card offers cash back rewards and introductory APR periods that can benefit certain borrowers. But unfavorable regular APRs and some fees could outweigh the perks for some. This review covers all the vital details to make an informed decision.

Introduction

Offered by the Bank of Orrick, the [Atlas Credit Card markets](https://modoloanreview.com/atlas-credit-card-review/) itself as a cash back rewards card paired with 0% intro APRs on purchases and balance transfers. Approved cardholders earn unlimited 1.5% cash back on all purchases. New applicants also get a 0% APR for the first 12 months on purchases and balance transfers made within 45 days of opening your account.

After considering all card features and fine print, we give the Atlas Credit Card 3 out of 5 stars. The card can be worth considering for the temporary APR deals and ongoing cash back. But the long term high interest rates and fees could be costly if you don’t pay off balances quickly.

Fees

The [Atlas Credit Card charges](https://modoloanreview.com/atlas-credit-card-review/)no annual fee. But you will incur other common fees, including:

- Balance Transfer Fee: 5% ($5 minimum)
- Cash Advance Fee: 10% ($10 minimum)
- Foreign Transaction Fee: 3%
- Late Payment Fee: $29
- Returned Payment Fee: $40

Expect to pay around $74 in fees if you use most included perks and make a late payment. Costs become more affordable if you avoid cash advances and pay your bill on time.

APRs and Interest Rates

The Atlas card promotes intro 0% APR deals on purchases and transfers. But ongoing rates climb very high after the intro expires:

- Purchases:0% for 12 months, then 25.24% variable
- Balance Transfers:0% for 12 months (transfers must be made in 45 days), then 25.24% variable
- Cash Advances:27.24% variable

The regular purchase and balance transfer APR runs over eight percentage points higher than average cards. Interest compounds daily with no grace period if you carry any monthly balance.

Rewards and Redemptions

Spending with the Atlas Credit Card earns you unlimited 1.5% cash back on all purchases. Most cash back cards in this tier range between 1-1.5%, making Atlas’ offering reasonably competitive.

You can redeem earned rewards as statement credits or deposit into eligible bank accounts anytime your cash back balance reaches $25. Atlas does not offer airline transfers, gift cards, merchandise options that competing travel rewards cards sometimes include.

Approval Odds

FICO only discloses limited data on approval odds for the Atlas Credit Card. But most industry estimates expect typical approval for applicants with:

- Credit Scores: 670 and above
- Annual Income: $20,000 personal or $40,000 household

Having no recent late payments or bankruptcies on your credit reports also bolsters your chances significantly. If your profile falls short of these benchmarks, adding a qualifying co-signer often improves the approval odds as well.

How to Apply

You can check offers and apply in just a few minutes right from the card issuer’s website. The company also provides access to check application status after submitting and offers real-time decisions on prequalification eligibility without impacting your credit score.

During the online application you will need to provide standard personal and income details including:

- Name and Address
- Date of Birth and Social Security Number
- Employer Details
- Estimated Income
- Total Assets and Housing Payment

Double check all entries for accuracy before submitting to avoid processing delays.

Alternatives to Consider

The BankAmericard Cash Rewards Credit Card emerges as a formidable contender to the Atlas card. It also earns 1.5% back on purchases and charges no annual fee. But it offers over 6 months longer at the 0% intro purchase APR and levies significantly lower ongoing variable rates between 14.49% to 26.49% afterward.

Before applying for Atlas’ offer, make sure you comparison shop cards that match your spending habits and financial plan best long term.

Our Final Take

The Atlas Credit Card presents a mixed bag of incentives not suitable for every wallet. If you will carry balances beyond the intro period or lean heavily into cash advances, expect exorbitant interest charges quickly that overshadow any rewards. But those able to pay balances promptly can capture temporary 0% APRs and ongoing 1.5% cash back with reasonable fees.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <https://omls.oregon.gov/pipermail/afscme/attachments/20231124/f8cec0c6/attachment-0001.html>