Bank of America Cash Rewards Card

[Anonymous]

Hey everyone,

I wanted to get some feedback and reviews on the BofA Cash rewards card from yall for those who have this card. I been debating on it for the past week. What do you guys think of it? How do you like it? How's the customer service? Do they start you with a high SL and does it grow? Is it a Prime card in your opinion? Hows the red color and design of the card, do you like the look? lol. 

A big thing to me is the 3% gas  and also the extra bonus you get for reedeming it if youre a BofA banking client,. The thing is, I already have the amex BCE (which I feel is similar) that I use for Gas which gives me 2%, is it really worth getting another new card and HP for an extra 1% more on gas? Also, I've been offered a targeted $200 sign up bonus which seems to be pretty good considering on their site it's only giving out $100. 

I dont know, what do you guys think? 

[DaveInAZ]

I'm very happy with my BoA Cash Rewards, I primarily use it for the 3% rewards for gas. I also have an Amex BCE and I primarily use it for the 3% rewards for groceries, but as I just got my BCE in late April I'm still in the $1k spend for a $150 bonus, so I charged my Home & Auto insurance premium on it for 1% to get the bonus faster. The bright red color makes the Cash Rewards easy to spot in my wallet. By contrast I think the clear plastic design of the BCE looks cheap, but for the 2 seconds I look at a card before swiping or "tapping" I can put up with any design for a good reward %..

Unless you have a very strong credit file & income, you'll not likely get a huge SL, but with good usage & payment the CL will grow well. Yes, I consider any card from one of the largest retail banks in the country as "prime".

[Cashbackjunky]

I absolutely love the card!! I use it just for gas. I have the AmEx BCP (3% on gas also) but my BofA gives me 3.3% when I redeem into my BofA bank account.

My SL was $2,500 (my scores were all hovering around 650 at the time of app) and grew to $25,000 in 2 years (scores hovering around 800 now).

It was my first multi-percentage rewards card, so it'll always have a special place in my heart, but in all honesty, I have had nothing but GREAT customer service.

I received 2 auto CLI's on my account about 6 months after opening and 6 months after the first CLI. My third CLI was initiated by me (Experian HP) but I didn't get the full CLI I wanted, so I called them and asked them to reconsider on the same HP and they did! Got me from $19,500 to $25,000!

All in all, I think they are a great bank and a pleasure to work with. If I were you, I'd pull the trigger!

Cheers!

[DaveInAZ]

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@Cashbackjunky wrote:
I absolutely love the card!! I use it just for gas. I have the AmEx BCP (3% on gas also) but my BofA gives me 3.3% when I redeem into my BofA bank account.

My SL was $2,500 (my scores were all hovering around 650 at the time of app) and grew to $25,000 in 2 years (scores hovering around 800 now).

It was my first multi-percentage rewards card, so it'll always have a special place in my heart, but in all honesty, I have had nothing but GREAT customer service.

I received 2 auto CLI's on my account about 6 months after opening and 6 months after the first CLI. My third CLI was initiated by me (Experian HP) but I didn't get the full CLI I wanted, so I called them and asked them to reconsider on the same HP and they did! Got me from $19,500 to $25,000!

All in all, I think they are a great bank and a pleasure to work with. If I were you, I'd pull the trigger!

Cheers!

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That's good to know about auto CLI's, thanks. I got a nice auto CLI in early March and the "request CLI" has been showing up in the account for several weeks now. I don't want a HP on EX, so I'll wait until September and see if another auto CLI magically show up.

[Cashbackjunky]

@DaveInAZ, I was using the SNOT outta that card when I got the CLI's... Would run it up to about 60% util and PIF... Sometimes multiple times per month.

I think BofA likes to see a lot of usage if they're gonna give auto CLI's. Food for thought.

Cheers!

[Jeff007245]

The $200 targeted offer is nothing to scoff at - very rare to see that targeted offer. Most of the time the targeted offers are only $100 and $150... $200 for $500 spend is great! BofA is also known to give high limits that grow pretty aggresively.

It is also a great card that will grow with you IF you deepen your relationhip with Bank of America and Merrill Lynch and qualify for preferred rewards. Points don't expire and can be redeemed at a future date once you qualify for the highest level Preferred Rewards.

Gold 20-50k - 25% Boost

Gas - 3.75%

Groceries/Wholesale Club - 2.50%

Everything - 1.25%

Platinum 50-100k - 50% Boost

Gas - 4.50%

Groceries/Wholesale Club - 3.00%

Everything - 1.50%

Platinum Honors 100k+ - 75% Boost

Gas - 5.25%

Groceries/Wholesale Club - 3.50%

Everything - 1.75%

Industry leading rewards with a no annual fee card.

[dak17]

I have this card and never knew about the added bonus of depositing cash back rewards into my bank account. I always opt for a gift card. I like the card. I only use it for gas and occasional Amerideals. When you activate Amerideals you get 5%, 10% cash back at selected places you use the card.

[Cashbackjunky]

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@dak17 wrote:
I have this card and never knew about the added bonus of depositing cash back rewards into my bank account. I always opt for a gift card. I like the card. I only use it for gas and occasional Amerideals. When you activate Amerideals you get 5%, 10% cash back at selected places you use the card.

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The Amerideals are awesome too! Be sure you start depositing the Cashback into your BofA checking account to get the extra 10% bonus... Every little bit helps! 

Cheers!

[galahad15]

I am quite fond of my BoA Cash Rewards card, which originally started out for me as an alumni-affiliated card from my undergraduate university    It is one of my favorite cards.

[CreditDunce]

It is a great card, but it isn't one you need a big limit on.  With the $2500 quarterly bonus category cap, there is no reason you need a huge limit.  The biggest advantage it has over the Amex BCE is the a broader definition of grocery stores.  Most Super Wally/Targets will qualify as grocery stores.  With the PR Plat honors level it gets you to 3.5% back.  

I personally don't spend enough on gas to warrant a gas card.  None the less,  the 5.25% CB back for gas is a nice bonus.  Plus there has been a BoA deal for an extra 5% back at Exxon for the past 3 months.  Where I live the Exxon stations are just as cheap as the other nearby stations.  The deal maxes out at $30 of gas, but that is more than enough for me until the next deal shows up.