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Contributor
wche
Posts: 117
Registered: ‎01-29-2013
0

New BoA Card? Free $100/year

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!

BOA Better Rewards: 5K | Citi Forward: 8.6K | Chase Freedom: 10K | Discover IT: 7K | Amex BlueSky: 12.4K | Chase IHG: 5K | Sallie Mae: 9K | Chase CSP: 8.4K | Barclays Rewards 3k

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Regular Contributor
Tran92
Posts: 217
Registered: ‎09-25-2012
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Re: New BoA Card? Free $100/year

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

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Established Contributor
snowkitty
Posts: 985
Registered: ‎09-10-2012
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Re: New BoA Card? Free $100/year

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!
TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 9k | Boa Travel 10k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 16k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

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Contributor
wche
Posts: 117
Registered: ‎01-29-2013
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Re: New BoA Card? Free $100/year

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" 

BOA Better Rewards: 5K | Citi Forward: 8.6K | Chase Freedom: 10K | Discover IT: 7K | Amex BlueSky: 12.4K | Chase IHG: 5K | Sallie Mae: 9K | Chase CSP: 8.4K | Barclays Rewards 3k

TU FICO 771
Senior Contributor
lg8302ch
Posts: 3,073
Registered: ‎11-13-2012
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Re: New BoA Card? Free $100/year


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" 


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?

FICO® EQ 795 (as of today) - TU 778 (11/28) * Fako EX 811 (12/02 - CS) * last app 12/16/14 * INQ last 2 yrs TU: 4, EX: 5, EQ: 3


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Established Contributor
snowkitty
Posts: 985
Registered: ‎09-10-2012
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Re: New BoA Card? Free $100/year

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.
TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 9k | Boa Travel 10k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 16k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

App free since 12/11/13*
Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013
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Re: New BoA Card? Free $100/year

[ Edited ]

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.


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Contributor
wche
Posts: 117
Registered: ‎01-29-2013
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Re: New BoA Card? Free $100/year

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.
BOA Better Rewards: 5K | Citi Forward: 8.6K | Chase Freedom: 10K | Discover IT: 7K | Amex BlueSky: 12.4K | Chase IHG: 5K | Sallie Mae: 9K | Chase CSP: 8.4K | Barclays Rewards 3k

TU FICO 771
Contributor
wche
Posts: 117
Registered: ‎01-29-2013
0

Re: New BoA Card? Free $100/year

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!

BOA Better Rewards: 5K | Citi Forward: 8.6K | Chase Freedom: 10K | Discover IT: 7K | Amex BlueSky: 12.4K | Chase IHG: 5K | Sallie Mae: 9K | Chase CSP: 8.4K | Barclays Rewards 3k

TU FICO 771
Senior Contributor
lg8302ch
Posts: 3,073
Registered: ‎11-13-2012
0

Re: New BoA Card? Free $100/year

[ Edited ]

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.

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?!

FICO® EQ 795 (as of today) - TU 778 (11/28) * Fako EX 811 (12/02 - CS) * last app 12/16/14 * INQ last 2 yrs TU: 4, EX: 5, EQ: 3


Move the mouse over the cards for detailed view!..................................................................* Seedling Garden Club member *

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