topic Re: Anyone have BOA Balance Rewards Card? in Credit Cards

Anyone have BOA Balance Rewards Card?

Anonymous — Thu, 08 Dec 2016 20:17:54 GMT

This card looks interesting to me. An easy way to get $120 a year. If I read it right... you get $25 a quarter (plus $5 if you have a Checking or Savings) as long as you pay more than the min due. If you don't owe anything you must use your card once every month during the quarter to get the cash. So if u get this card and set up a monthly bill, pay in full each month, you should end up with $120 every year free money.

Am I understanding this right? Thx

Re: Anyone have BOA Balance Rewards Card?

Anonymous — Thu, 08 Dec 2016 20:24:32 GMT

@Anonymous wrote:
This card looks interesting to me. An easy way to get $120 a year. If I read it right... you get $25 a quarter (plus $5 if you have a Checking or Savings) as long as you pay more than the min due. If you don't owe anything you must use your card once every month during the quarter to get the cash. So if u get this card and set up a monthly bill, pay in full each month, you should end up with $120 every year free money.

Am I understanding this right? Thx

Pretty sure no-one has this card as there have never been any threads on it.

Search for BBR here, very popular card and works the way you suggest. Some people have more than one

ETA: I should add I am one of the few who are less than excited by this card. "Free money" with a small amount of work, but we are talking 30c or so a day. Outside of cc forums, I don't think people really get excited about relatively small amounts of money

Re: Anyone have BOA Balance Rewards Card?

Peteyglad — Thu, 08 Dec 2016 20:51:36 GMT

Quite a few people have it. I put my reoccurring $30 a month charge on it and get my $120 a year. Nothing fancy. Easy money.

Re: Anyone have BOA Balance Rewards Card?

Bman70 — Thu, 08 Dec 2016 21:26:34 GMT

Yes I have it, they have lots of balance transfer specials they send. I carried one for a year, and the payments met the bonus requirement. About to rinse and repeat.

Re: Anyone have BOA Balance Rewards Card?

UncleB — Thu, 08 Dec 2016 22:36:37 GMT

@Bman70 wrote:

Yes I have it, they have lots of balance transfer specials they send. I carried one for a year, and the payments met the bonus requirement. About to rinse and repeat.

Same here... when I called in to activate the card I was transferred to a CSR, and he offered me 15 months at 0% (versus the advertised 12 months) so I took the offer... I'm paying enough to have it PIF well before the promo ends, and I've been getting my quarterly $25 like clockwork.

Depending on the 'weather' when my promo is up I am considering doing a 'rinse and repeat' as well.

Re: Anyone have BOA Balance Rewards Card?

Anonymous — Thu, 08 Dec 2016 22:41:07 GMT

Thx for the replies. Just to make sure I can PIF and as long as I make a small purchase each month... I get the $25 (or $30)

Thx again. I may App for this

Re: Anyone have BOA Balance Rewards Card?

Anonymous — Thu, 08 Dec 2016 23:22:03 GMT

@Peteyglad wrote:
Quite a few people have it. I put my reoccurring $30 a month charge on it and get my $120 a year. Nothing fancy. Easy money.

Just to reiterate my reluctance to be impressed by this card. A little thought experiement:

You come home to your SO/family/pet//room mate etc

"I have some GREAT news!!!"

"What?"

"I can now get almost 33c a day EVERY DAY for doing almost nothing!!!!!"

And I would guess that a sincere "Wow that's amazing" reaction would be pretty rare.

Re: Anyone have BOA Balance Rewards Card?

Anonymous — Thu, 08 Dec 2016 23:36:26 GMT

@Anonymous wrote:
@Peteyglad wrote:
Quite a few people have it. I put my reoccurring $30 a month charge on it and get my $120 a year. Nothing fancy. Easy money.
Just to reiterate my reluctance to be impressed by this card. A little thought experiement:

You come home to your SO/family/pet//room mate etc

"I have some GREAT news!!!"
"What?"
"I can now get almost 33c a day EVERY DAY for doing almost nothing!!!!!"

And I would guess that a sincere "Wow that's amazing" reaction would be pretty rare.

What if you got 10 BBRs though? $1k+ free a year for 5 minutes per month? Down.

Re: Anyone have BOA Balance Rewards Card?

Anonymous — Thu, 08 Dec 2016 23:51:22 GMT

70% cash back

Re: Anyone have BOA Balance Rewards Card?

Peteyglad — Thu, 08 Dec 2016 23:55:25 GMT

@Anonymous wrote:
@Peteyglad wrote:
Quite a few people have it. I put my reoccurring $30 a month charge on it and get my $120 a year. Nothing fancy. Easy money.
Just to reiterate my reluctance to be impressed by this card. A little thought experiement:

You come home to your SO/family/pet//room mate etc

"I have some GREAT news!!!"
"What?"
"I can now get almost 33c a day EVERY DAY for doing almost nothing!!!!!"

And I would guess that a sincere "Wow that's amazing" reaction would be pretty rare.

Think of it this way. You pay with a 2% card and make $.60 a month or $7.20 a year doing the same amount of work. Would you rather be paid $120 or $7.20 for doing the same thing? Is it life altering? Of course not, but every little bit helps.

Re: Anyone have BOA Balance Rewards Card?

Bman70 — Fri, 09 Dec 2016 00:45:25 GMT

@Anonymous wrote:
@Peteyglad wrote:
Quite a few people have it. I put my reoccurring $30 a month charge on it and get my $120 a year. Nothing fancy. Easy money.
Just to reiterate my reluctance to be impressed by this card. A little thought experiement:

You come home to your SO/family/pet//room mate etc

"I have some GREAT news!!!"
"What?"
"I can now get almost 33c a day EVERY DAY for doing almost nothing!!!!!"

And I would guess that a sincere "Wow that's amazing" reaction would be pretty rare.

It's not for doing almost nothing, it's for doing absolutely nothing! Because it's a balance transfer I'd carry anyway. I just have to set up a payment and leave it.

And instead of 33c a day, think of it this way: Amazon Prime is $99 a year, so this pays my Prime and then some.

Re: Anyone have BOA Balance Rewards Card?

Themanwhocan — Fri, 09 Dec 2016 01:13:51 GMT

The only real negative is that you have to let the monthly balance report to the credit bureaus before paying it off each month.

It is practically free money, and you can get multiple copies of the card, which is great. Each card is either:

1) enough to cover a free Netflix or Hulu or Amazon subscription (choose one, per card). OR...

2) if you average $500 spend on the card per month, its a 2% cash back card. and the less you use it, the higher the actual cash back is ($250/Month average spend makes it a 4% cash back card, etc). If you think in this way, then multiple cards are merely increasing your actual cash back percentage, by allowing you to spend less per card.

So any way you look at it, its a pretty nice deal. Its limited by how much total cash back you can get, but the number of cards you can get is in theory not very limited. Some people have 5 or 6 cards If I recall correctly.

Re: Anyone have BOA Balance Rewards Card?

UncleB — Fri, 09 Dec 2016 01:11:10 GMT

@Bman70 wrote:
@Anonymous wrote:
@Peteyglad wrote:
Quite a few people have it. I put my reoccurring $30 a month charge on it and get my $120 a year. Nothing fancy. Easy money.
Just to reiterate my reluctance to be impressed by this card. A little thought experiement:

You come home to your SO/family/pet//room mate etc

"I have some GREAT news!!!"
"What?"
"I can now get almost 33c a day EVERY DAY for doing almost nothing!!!!!"

And I would guess that a sincere "Wow that's amazing" reaction would be pretty rare.
It's not for doing almost nothing, it's for doing absolutely nothing! Because it's a balance transfer I'd carry anyway. I just have to set up a payment and leave it.
And instead of 33c a day, think of it this way: Amazon Prime is $99 a year, so this pays my Prime and then some.

If you watch the pennies, the dollars will take care of themselves...

Re: Anyone have BOA Balance Rewards Card?

manyquestions — Fri, 09 Dec 2016 01:17:10 GMT

@Anonymous wrote:
@Peteyglad wrote:
Quite a few people have it. I put my reoccurring $30 a month charge on it and get my $120 a year. Nothing fancy. Easy money.
Just to reiterate my reluctance to be impressed by this card. A little thought experiement:

You come home to your SO/family/pet//room mate etc

"I have some GREAT news!!!"
"What?"
"I can now get almost 33c a day EVERY DAY for doing almost nothing!!!!!"

And I would guess that a sincere "Wow that's amazing" reaction would be pretty rare.

Depends on how you frame the $120 per year.

Great news!!! I can now get Netflix for free!

Great news!!! I can now get Amazon Prime for free!

Great news, Fluffy!! I can now get a scratching tower and catnip for free!!!

Re: Anyone have BOA Balance Rewards Card?

BirchBarlow — Fri, 09 Dec 2016 02:35:06 GMT

Call me a conspiracy theorist if you will, but I believe BoA denies this card to people with excellent credit. I've been with BoA for 10 years and I've ALWAYS paid in full and they denied me this card and refused to PC my BankAmericard Cash Reward card. So I think they actually deny people this card if your credit profile is too good because they know if you PIF it will cost them money.

Re: Anyone have BOA Balance Rewards Card?

AverageJoesCredit — Fri, 09 Dec 2016 02:38:43 GMT

I really enjoy my BBR. Im finding it a great card to have for BTs and such and look forward to continueing my new relationship with Boa

Re: Anyone have BOA Balance Rewards Card?

Themanwhocan — Fri, 09 Dec 2016 03:05:37 GMT

@manyquestions wrote:
@Anonymous wrote:
@Peteyglad wrote:
Quite a few people have it. I put my reoccurring $30 a month charge on it and get my $120 a year. Nothing fancy. Easy money.
Just to reiterate my reluctance to be impressed by this card. A little thought experiement:

You come home to your SO/family/pet//room mate etc

"I have some GREAT news!!!"
"What?"
"I can now get almost 33c a day EVERY DAY for doing almost nothing!!!!!"

And I would guess that a sincere "Wow that's amazing" reaction would be pretty rare.
Depends on how you frame the $120 per year.

Great news!!! I can now get Netflix for free!
Great news!!! I can now get Amazon Prime for free!
Great news, Fluffy!! I can now get a scratching tower and catnip for free!!!

You forgot Hulu, or Crunchyroll subscriptions...

Re: Anyone have BOA Balance Rewards Card?

Anonymous — Fri, 09 Dec 2016 22:34:46 GMT

I have four BBR cards, and I love the program. Easy money. No, this single program won't make me rich, but it's an easy $480 per year.

My recommendations:

1. Make sure you set your redemptions (both for the $30 BBR credits and for BankAmeriDeals credits) to go to a checking or savings account instead of the default of a statement credit to the card.

2. Set up your cards for automatic payment of full balance on the due date.

3. Make at least $2 of charges each month ($2 may not be necessary, but it's the safest path).

4. Profit!

5. Automatic subscription-type charges (phone service, Netflix, etc.) are a great way to meet the requirement automatically.

6. Whether or not you go the automatic route, keep your eyes open on BankAmeriDeals for additional opportunities to save at places you'd be paying anyway.

7. Don't get fancy. Don't try to pay down your balance before it posts, or take stuff back out of cycle, etc. Just let things post and pay automatically. If you do have to take somthing back, just make sure you do additional spending that cycle to make up for it.

8. If something goes wrong and you don't get your bonus one quarter, don't waste your time calling customer service. You'll just be banging your head against a wall. Try again next quarter.

Chris.

Re: Anyone have BOA Balance Rewards Card?

SunriseEarth — Fri, 09 Dec 2016 23:35:11 GMT

@UncleB wrote:
@Bman70 wrote:

Yes I have it, they have lots of balance transfer specials they send. I carried one for a year, and the payments met the bonus requirement. About to rinse and repeat.
Same here... when I called in to activate the card I was transferred to a CSR, and he offered me 15 months at 0% (versus the advertised 12 months) so I took the offer... I'm paying enough to have it PIF well before the promo ends, and I've been getting my quarterly $25 like clockwork.

Depending on the 'weather' when my promo is up I am considering doing a 'rinse and repeat' as well.

BBR is definitely underrated as a BT card. The quarterly rewards can offset the 3% BT fees on fairly significant BT amounts, especially on a 15 month 0% offer. And yes, I highly recommend calling in for the best BT offers; they usually exceed the offers you'll see upon login.

Re: Anyone have BOA Balance Rewards Card?

Anonymous — Sat, 10 Dec 2016 09:09:38 GMT

And I would even say 15 month is on the low end. After 6 months its possible to see 17-19 month bt offers...with ANY BoA card...always call in as they may have better offers as illustrated by UncleB. And themanwhocan and monoglot said it best. Its a great card to have.

I have seen a few get denied with high scores, but that is if their current BoA card has been used very little, if at all.