The Franklin Templeton credit card is offered to individual customers who have opened investment accounts with the company. It is not available to customers with accounts requiring two signatures to access funds, or ones with addresses in locations other than the United States. Accounts held by corporations or partnerships are also not eligible for this type of credit card account.
Rather than the customer paying for any charges on the card from his or her personal funds, the amount owed on the card is paid out of the cardholder’s Franklin account. The shares are redeemed automatically from the account on the next monthly payment date. To open this type of credit card account, the customer must agree to pledge the shares in his or her account to pay for charges they make on it. Compare other credit card offers now!
Cash advances are treated a bit differently. When a cardholder chooses this option, the funds are taken from the Franklin money fund automatically the following business day.
Franklin Templeton Credit Card Features
The available credit limit is the same amount as the available funds in the investment account or $25,000, whichever amount is less. The card does work like a debit card or prepaid credit card in that purchases are funded from the cardholder’s investments, but it also works in the same manner as a credit card since there is a delay of up to 30 days before the funds are transferred out.
Franklin Templeton Credit Card Benefits
No annual fees are charged for this card. Although not technically a travel credit card, benefits offered to cardholders include:
- Travel assistance
- Rental car insurance
There is no limit on the number of transactions a customer can make, as long as they have the funds available to pay for their purchases in the Franklin Templeton investment account.
Franklin Templeton Credit Card Offers Convenience
Franklin Templeton customers can enjoy the convenience of having a debit card and the advantages of a credit card to make purchases in person or online as they wish. The amount they choose to charge on the card is automatically paid from funds they already have, without the inconvenience of having to write a check or pay the bill through online banking or in person. Compare other credit card options with this one today!