Thinking Of Closing BOA BBR

[Callandra]

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@yfan wrote:

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@Anonymous wrote:

It may seem trivial (and it isn't a huge amount) but I think of it in terms like this: 

100 BBR-One auto bill a month, one payment a month.  Can be extremely low if desired.   Does not matter what it is. 

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What you say is true. But there comes a point where there are too many people using the card to spend very little compared to their annual rewards. After that crosses a certain thresholds, banks start noticing. The "extremely low spend for a relatively hefty reward" factor only lasts so long as a significant amount of users aren't taking advantage of that low spend possibility.

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I am a bit curious to see how the average BBR holder uses their card. I feel like -most- average users just use their cards wherever and don't really care. BBR is actually a good option for a low spender who wants some simple rewards and only one card. Then again, I had never heard of BBR before becoming a myfico member (same with Sallie Mae) so I wonder how many BBRs are out there compared to BoA's other cards (I've seen the Cash Rewards in the wild, but never a BBR). I do agree that if BBR crosses that threshold it will either be discontinued or nerfed. That doesn't bother me since I don't waste my time worrying about it; if it happens, that's fine and I'll look at my options then. 

[stevenngu92]

Card is a keeper for me, unless it gets nerfed. The card pays for netflix and i don't have to do anything except set up bill pay once.

[CreditUnionFan]

As others have posted, the BBR can earn an easy $25 per quarter, or $30 per quarter if you have an eligible Bank of America bank account. Even if you don't bank with BoA, you can open a savings account with as little as $300, IIRC, and then would get the extra $20 over the year, almost like earning another 7% on the $300. 

If you set the bonus to go into the checking or savings account directly, it's easy to put the charge and payment on auto-pilot for an easy $120 per year. 

You likely could allocate the credit lines in different ways, such as leaving only $1000 on the BBR and the Travel Rewards card would have almost the same limit.

[ScoreOrBeScored]

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@CreditUnionFan wrote:

As others have posted, the BBR can earn an easy $25 per quarter, or $30 per quarter if you have an eligible Bank of America bank account. Even if you don't bank with BoA, you can open a savings account with as little as $300, IIRC, and then would get the extra $20 over the year, almost like earning another 7% on the $300. 

If you set the bonus to go into the checking or savings account directly, it's easy to put the charge and payment on auto-pilot for an easy $120 per year. 

You likely could allocate the credit lines in different ways, such as leaving only $1000 on the BBR and the Travel Rewards card would have almost the same limit.

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Sorry,ncard is already closed ... Thnx for your input though

[Anonymous]

Great decision,OP.

[Anonymous]

I put Hulu on it for $7.99 a month. Get $30 a quarter and pay less than $24 a quarter. Easy free Hulu plus $6 bucks.