First National Bank Maximum Rewards Visa card review

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With a name like “Maximum Rewards,” you’d think the First National Bank of Omaha’s marquee rewards card would offer more than just the bare minimum of perks. But despite the promise implied by its name, the Maximum Rewards Visa card offers a limited selection of benefits and a subpar rewards program, making it a mediocre choice for most cardholders.

Cardholders do get 24-hour access to their FICO scores, though, so some credit-minded cardholders might forgive the Maximum Rewards Visa card for its disappointing rewards program. However, the audience for this card is limited. Only cardholders who live in Colorado, Illinois, Iowa, Kansas, Nebraska, South Dakota or Texas may apply.

Limited rewards 

The most disappointing feature of the Maximum Rewards Visa card is its rewards program. Cardholders earn just one point for every $1 they spend, making it tough to rack up a significant number of points in a reasonable period of time. Unlike many competitors, the card doesn’t offer any bonus points on certain types of spending, nor does it offer any kind of sign-up bonus.

Run-of-the-mill redemption value

Valued at roughly 1 cent per point – about average for a rewards card – the card’s rewards aren’t that remarkable either. According to our calculations, you’d only earn about $159 worth of rewards by the end of the year if you spent $1,325 a month on the card. To earn a more valuable reward, such as a round-trip domestic airline ticket, you’d need to spend up to $3,000 or more. Redeeming points for cash is even less rewarding. Points redeemed for cash are worth less than a penny each, as are points redeemed for charity and some gift cards.

Somewhat flexible redemption

If you don’t have enough points saved up to redeem the full value of a rewards purchase, the Maximum Rewards Visa card does allow you to use your points for a fraction of the purchase and to pay the rest on your card. That could give you a significant discount on items you were already planning to buy. However, you need to redeem at least 1,000 points in order to take advantage of the partial pay option. The rewards program also allows you to book travel for any time, without restrictions, but you have to book through First National’s travel service, which could be more expensive.

Good introductory promotion

The Maximum Rewards Visa card offers a decent interest-free promotion, which could make the card an attractive option for cardholders who want to finance a large purchase or transfer a hefty balance. Cardholders are given up to a year to make interest-free purchases and to take advantage of an interest-free balance transfer. However, once the introductory period expires, interest rates revert back to the card’s standard rate, which, at 16.24 percent to 23.24 percent, is relatively high for a card that offers so few benefits.

Good for checking credit

Perhaps the most valuable benefit that the card offers is free, 24-hour access to cardholders’ credit scores. Unlike other credit cards that also offer free credit scores, the Maximum Rewards Visa card gives cardholders access to their FICO score, which is one of the most widely used credit scores and among the most expensive to purchase.

Why get the First National Bank Maximum Rewards Visa card?

• You’re already a First National Bank customer and would like a credit card with the same bank.
• You want unlimited free access to your FICO credit score.
• You want to take advantage of the card’s interest-free APR or balance-transfer promotion.
• You prefer to redeem points for gift cards, merchandise or travel rather than cash back.

How to use the First National Bank Maximum Rewards Visa card:

• To get the best rewards value, purchase travel at least 21 days in advance. Also, try to schedule your travel so that you travel for at least part of your trip on a Saturday.
• Don’t redeem your points for cash or charitable giving. Points redeemed for cash or donations are worth significantly less than points redeemed for gift cards or travel.
• Keep tabs on your financial health by regularly checking your free FICO credit score.