New BoA Card? Free $100/year

[wche]

https://www.bankofamerica.com/credit-cards/products/better-balance-rewards.go?cid=2091998&po=52

What do you guys think about this new card that BoA is offering?

You get $25/quarter by paying more than the minimum every month.

Additional $5/quarter if you have an account with BoA.

Sounds interesting!

[Tran92]

Are you suppose to leave a balance every month and pay above the minimum or can you PIF to earn the rewards?

[snowkitty]

I was looking at this card earlier today and it peaks my interest! I want a mastercard and this may be the one in the future!

[wche]

Yeah I'd like to add a MC to my wallet.

My only concern is how much we would need to charge every month n order to pay "more than the minimum" 

[lg8302ch]

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@wche wrote:

Yeah I'd like to add a MC to my wallet.

My only concern is how much we would need to charge every month n order to pay "more than the minimum" 

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this is what I have been trying to find out as well..thinking of PC over one cash rewards that I do not use much .hmm ..I am wondering about the minimum and if you can PIF and still get the rewards?  there must be something I did not see I guess?

[snowkitty]

The terms seem straight forward unless I am missing something. It says you have to have a balance hit each and every month. So it looks like you can pif but only after a statement is cut.

[Pilotdude]

5$ per quarter with a BoA account?

Chase is 10% annually if you have an account on its Freedom card and thats on top of the card's standard bonus. 

I think Chase Freedom is a better deal.  Of course I might be comparing apples to oranges here since the BoA's ad language makes it sound as if its really a starter card while Freedom is certainly not.

[wche]

This is the chat I just had with a specialist:

You: It says I must pay more than the monthly minimum every month to qualify for the $25 reward every quarter

You: Is that correct?

rep: Yes, you are right. Let me highlight the benefits associated with this card.

You: Well then if I pay in full every month on time, would I still qualify for the reward?

rep: Yes, definitely! You can still get the $25 reward every quarter.

You: So lets say I charge only $30 on the card every month

You: and I pay the full $30 according to the statement every month

You: I will still get the $25 per quarter?

rep: Yes, you are absolutely correct.

[wche]

I'm interested because my current BOA Platinum Plus card doesnt give any rewards and its in the sock drawer. I might as well PC it just for the rewards!

[lg8302ch]

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@wche wrote:

This is the chat I just had with a specialist:

You: It says I must pay more than the monthly minimum every month to qualify for the $25 reward every quarter

You: Is that correct?

rep: Yes, you are right. Let me highlight the benefits associated with this card.

You: Well then if I pay in full every month on time, would I still qualify for the reward?

rep: Yes, definitely! You can still get the $25 reward every quarter.

You: So lets say I charge only $30 on the card every month

You: and I pay the full $30 according to the statement every month

You: I will still get the $25 per quarter?

rep: Yes, you are absolutely correct.

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Under these conditions it sounds like a really interesting solution for an "emergency card" that you do not use very often. I am still a bit suspicious - too good to be true?!