Favorite Bank of America CC? I'd like to convert my Bank Americard.

[Credit333]

I've had a Bank Americard Mastercard Cash Rewards (3% gas, 2% groceries, 1% everything else) with a $3,000 limit for 18 months, but I think I'm going to apply for a Sally Mae Mastercard (5% gas, 5% groceries, 1% everything else). The Bank Americard has been a good card for me, but since ~$250 is what I spend on gas/groceries per month and that's what the rewards cover on the SM, the SM would completely any reward value offered by my Bank Americard. Does B of A do conversions (ideally without a hard pull)? If so, what are some good options that I could convert my Bank Americard over to? Something with cash back / statement credit options instead of miles.

[Themanwhocan]

BOA Better Balance Rewards. Spend $166.66/month and pay off properly, and your cash back percentage would be %5, and thats on anything, so its good to cover stuff you cant find a card to cover. 

Spend less than $166.66 per month? Why then your cash back % is much higher than 5%... 

Then later... apply for another Better Balance Rewards. the more, the merrier.

[Credit333]

Thanks for the reply.

I actually just did a little research on the BB Rewards...from what I can gather, the benefits are that you get $25 per quarter for paying "more than the minimum balance", whatever that means. So $100/year would definitely be nice, but not sure what loopholes there might be...I'd probably just make one purchase per month on the card, let the statement hit for $20 or however much the charge is for, and then immediately pay it off. Would this qualify me for the $25/quarter? I don't really know what the 5%/$166.67 figures are referring to on your end...

[bigblue7722]

He is making out the 25 dollars in rewards at 5%. If you spend more than 166.67 u get less than 5% or if u spend less than that u get more than 5%.

[longtimelurker]

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@bigblue7722 wrote:
He is making out the 25 dollars in rewards at 5%. If you spend more than 166.67 u get less than 5% or if u spend less than that u get more than 5%.

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(I've had this discussion before with TMWC!).  While true that you "get more than 5%" if your spending is less, it is also exactly $25, i.e. it doesn't scale.  A 1% card on $300 is better.   The first purchase on some cards (e.g. Sallie Mae) earn $25 no matter how small, so a 1c purchase gets you $25, which is 2,500,000%!!!  With that sort of return, who needs to work ever again.   Except, of course, it is only $25!

As a PC for the OP, this may be fine, $100 a year in return for some fairly simple card management.  But as a new app for others, have to consider if this is a good use of a HP.

[Kenny]

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@longtimelurker wrote:

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@bigblue7722 wrote:
He is making out the 25 dollars in rewards at 5%. If you spend more than 166.67 u get less than 5% or if u spend less than that u get more than 5%.

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(I've had this discussion before with TMWC!).  While true that you "get more than 5%" if your spending is less, it is also exactly $25, i.e. it doesn't scale.  A 1% card on $300 is better.   The first purchase on some cards (e.g. Sallie Mae) earn $25 no matter how small, so a 1c purchase gets you $25, which is 2,500,000%!!!  With that sort of return, who needs to work ever again.   Except, of course, it is only $25!

As a PC for the OP, this may be fine, $100 a year in return for some fairly simple card management.  But as a new app for others, have to consider if this is a good use of a HP.

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I get 30 because I have a BOA checking. That says nothing about the % CB, however, if you don't use your BoA card much this is a perfect card for someone.

[dabossman]

does anyone know if you can just apply for a second BOA BBR card or is the only way to get a second is through pc?

[Kenny]

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@dabossman wrote:

does anyone know if you can just apply for a second BOA BBR card or is the only way to get a second is through pc?

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Not sure. 

[Themanwhocan]

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@dabossman wrote:

does anyone know if you can just apply for a second BOA BBR card or is the only way to get a second is through pc?

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Both methods work.

Someone on myfico.com has 3 BBR cards, and used both methods to get the 2nd and 3rd cards.