AmTrust 2% Cash Back Visa Signature® from First National Bank of Omaha Review

Finding the right credit card can be a daunting task, especially with the myriad options available in today’s market. As a financial expert with years of experience, I understand how important it is to choose a credit card that aligns with your financial goals and lifestyle. In this comprehensive review, we will delve into the specifics of the AmTrust 2% Cash Back Visa Signature® from the First National Bank of Omaha, examining every aspect from benefits to potential drawbacks.

AmTrust 2% Cash Back Visa Signature® from First National Bank of Omaha Review

The AmTrust 2% Cash Back Visa Signature® is a straightforward cash back credit card designed to reward cardholders with a flat 2% cash back on all purchases. It is a no-fuss, no-annual-fee card that targets consumers with good to excellent credit scores. The card stands out for its simplicity and ease of use, making it an attractive option for those who prefer a straightforward rewards structure.
The credit card does not come with an introductory APR offer, which might be a downside for those looking for initial financing benefits. However, its consistent 2% cash back on all purchases can be particularly advantageous for those who spend regularly across various categories and prefer not to juggle different rewards rates.

AmTrust 2% Cash Back Visa Signature® Key Takeaways

– Cash Back Rewards: A flat 2% cash back on all purchases.
– Annual Fee: $0.
– APR: 26.74% – 29.99% Variable.
– Credit Score Requirement: Good to Excellent (670-799).
– Issuer: First National Bank of Omaha.
– Additional Fees: Balance transfer fee (either $10 or 5% of the amount, whichever is greater), cash advance fee (either $15 or 5% of the amount, whichever is greater), return payment fee (up to $35), and late payment fee (up to $40).

AmTrust 2% Cash Back Visa Signature® Pros and Cons

Pros

1. No Annual Fee: The absence of an annual fee makes this card an attractive option for those who do not want to pay a yearly cost for holding a credit card.
2. Flat 2% Cash Back: The straightforward rewards structure is beneficial for those who prefer simplicity and do not want to keep track of rotating categories or spending caps.
3. Good for Good to Excellent Credit: This card is accessible to a wide range of consumers who have maintained a good to excellent credit score.

Cons

1. High APR: The variable APR ranges from 26.74% to 29.99%, which is relatively high and could be a concern for those who may carry a balance month-to-month.
2. No Introductory APR: The card does not offer an introductory 0% APR period for purchases or balance transfers, which might deter those looking for initial financing benefits.
3. Foreign Transaction Fee: The card incurs a fee for foreign transactions, making it less suitable for frequent travelers.

AmTrust 2% Cash Back Visa Signature® Benefits

One of the standout features of the AmTrust 2% Cash Back Visa Signature® is its simplicity in rewards. Let’s explore the benefits in more detail:

1. Flat 2% Cash Back on All Purchases

The card offers a consistent 2% cash back on every purchase made, regardless of the category. This is particularly beneficial for those who do not want to deal with the hassle of tracking specific spending categories or quarterly bonuses.

2. No Annual Fee

The card has no annual fee, which means you can earn rewards without any cost of ownership. This is a significant advantage for those who want to maximize rewards without the burden of an annual charge.

3. Good for Good to Excellent Credit

With a required credit score ranging from 670 to 799, this card is accessible to a large segment of the population that has maintained a good to excellent credit score. This makes it a viable option for many consumers looking to leverage their good credit history for rewards.

4. Visa Signature Benefits

Being a Visa Signature card, it comes with additional perks such as extended warranty protection, travel and emergency assistance services, and access to exclusive events and offers. These benefits add extra value to the card beyond just the cash back rewards.

5. Manage Your Account Online

Cardholders can easily manage their account and pay their bills online through the First National Bank of Omaha’s website. This convenience is essential in today’s digital age, allowing for seamless transactions and account management.

6. Customer Service Support

First National Bank of Omaha offers robust customer service support, ensuring that cardholders can get assistance when needed. This includes resolving issues, answering queries, and providing general support for account management.

Conclusion

The AmTrust 2% Cash Back Visa Signature® from First National Bank of Omaha is a solid choice for those seeking a simple and straightforward cash back rewards card. With a flat 2% cash back on all purchases and no annual fee, it offers a hassle-free way to earn rewards on everyday spending. However, the high APR and the lack of an introductory APR period could be potential drawbacks for some consumers.
For those who pay their balances in full each month and are looking for a no-annual-fee card with a consistent rewards structure, this card can be a great addition to their wallet. On the other hand, if you anticipate carrying a balance or are looking for introductory financing benefits, you might want to explore other options.
In summary, the AmTrust 2% Cash Back Visa Signature® is best suited for disciplined spenders who value simplicity and consistency in their rewards program. It’s a reliable card that delivers on its promise of straightforward cash back without the complications of rotating categories or annual fees. As always, it’s essential to assess your personal financial situation and spending habits to determine if this card aligns with your needs and goals.