topic Re: BoA Better Balance Rewards in Credit Cards

BoA Better Balance Rewards

Anonymous — Mon, 09 Dec 2013 00:22:45 GMT

What's the minimum charge each month to qualify for $25 each quarter? Seems like an easy way to make $100...

Re: BoA Better Balance Rewards

Anonymous — Mon, 09 Dec 2013 00:32:24 GMT

Also, do you have to let the statement post with a balance and therefore accrue interest, in order to be eligible? Or can you charge something once a cycle and then PIF the next day?

Re: BoA Better Balance Rewards

Kenny — Mon, 09 Dec 2013 00:34:53 GMT

You have to make a balance report each statement otherwise you will not get the 25 per quarter.

I just let mine report a very small balance since I have other balances that report that I can't pay off right now.

Re: BoA Better Balance Rewards

Anonymous — Mon, 09 Dec 2013 00:35:13 GMT

Is there a minimum interest charge? If not, you could just leave a $0.01 balance.

Re: BoA Better Balance Rewards

Kenny — Mon, 09 Dec 2013 00:37:33 GMT

@Anonymous wrote:
Is there a minimum interest charge? If not, you could just leave a $0.01 balance.

I looked back at my statements and I didn't have anything reporting as accrued. A balance is a balance whether it's 0.01 or 1.00 or 10.00 or 100.00. So doesn't really matter to me, it's just a PIF card IMO.

Re: BoA Better Balance Rewards

Themanwhocan — Mon, 09 Dec 2013 01:03:05 GMT

@Anonymous wrote:
Also, do you have to let the statement post with a balance and therefore accrue interest, in order to be eligible? Or can you charge something once a cycle and then PIF the next day?

You do not pay interest when a statement posts a balance. The due date for a credit card is several weeks after the statement posts.

So you should be able to set the card to pay in full if you like.

Re: BoA Better Balance Rewards

Anonymous — Mon, 09 Dec 2013 01:31:15 GMT

@Themanwhocan wrote:
@Anonymous wrote:
Also, do you have to let the statement post with a balance and therefore accrue interest, in order to be eligible? Or can you charge something once a cycle and then PIF the next day?
You do not pay interest when a statement posts a balance. The due date for a credit card is several weeks after the statement posts.

So you should be able to set the card to pay in full if you like.

How do you figure out the day the statement posts?

Re: BoA Better Balance Rewards

Themanwhocan — Mon, 09 Dec 2013 01:34:52 GMT

@Anonymous wrote:
@Themanwhocan wrote:
@Anonymous wrote:
Also, do you have to let the statement post with a balance and therefore accrue interest, in order to be eligible? Or can you charge something once a cycle and then PIF the next day?
You do not pay interest when a statement posts a balance. The due date for a credit card is several weeks after the statement posts.

So you should be able to set the card to pay in full if you like.
How do you figure out the day the statement posts?

You wait for a statement to post. The date will be on it

Like I said, you have almost a month after the statement posts before it must be paid, so you could check online once a week and still catch it weeks before it was due.

Re: BoA Better Balance Rewards

Anonymous — Mon, 09 Dec 2013 01:38:12 GMT

@Themanwhocan wrote:
@Anonymous wrote:
@Themanwhocan wrote:
@Anonymous wrote:
Also, do you have to let the statement post with a balance and therefore accrue interest, in order to be eligible? Or can you charge something once a cycle and then PIF the next day?
You do not pay interest when a statement posts a balance. The due date for a credit card is several weeks after the statement posts.

So you should be able to set the card to pay in full if you like.
How do you figure out the day the statement posts?
You wait for a statement to post. The date will be on it

Like I said, you have almost a month after the statement posts before it must be paid, so you could check online once a week and still catch it weeks before it was due.

Looks like I'm leaving the garden that I've only been in for 1 week Thank you.

Re: BoA Better Balance Rewards

Anonymous — Mon, 09 Dec 2013 01:40:40 GMT

Also, I'm guessing that PIF counts as paying more than the minimum due even if the minimum due is the full balance, right?

Re: BoA Better Balance Rewards

Anonymous — Mon, 09 Dec 2013 01:45:33 GMT

Your BankAmericard® Better Balance Rewards™ MasterCard® Credit Card application has been approved with a $7,500 credit line.

Ok. Back in the garden for good this time

Re: BoA Better Balance Rewards

Themanwhocan — Mon, 09 Dec 2013 01:46:45 GMT

@Anonymous wrote:
Also, I'm guessing that PIF counts as paying more than the minimum due even if the minimum due is the full balance, right?

I expect so.

However, I'm not applying for that card just yet. I have 2 recent Barclay cards, and I don't want to push my luck too much

Maybe around the end of January I can risk it though I should wait until the end of March.

Re: BoA Better Balance Rewards

Anonymous — Mon, 09 Dec 2013 01:49:03 GMT

@Themanwhocan wrote:
@Anonymous wrote:
Also, I'm guessing that PIF counts as paying more than the minimum due even if the minimum due is the full balance, right?
I expect so.

However, I'm not applying for that card just yet. I have 2 recent Barclay cards, and I don't want to push my luck too much

Maybe around the end of January I can risk it though I should wait until the end of March.

I spoke with a CSR and PIF counts I've gotten 2 new cards this week as well, so no more apps for me any time soon.

Re: BoA Better Balance Rewards

darkpearl — Mon, 09 Dec 2013 02:08:41 GMT

Just remember the $25 will post before the statement cuts that month so you need more than that on the balance to offset it...

Re: BoA Better Balance Rewards

Kenny — Mon, 09 Dec 2013 05:01:50 GMT

@darkpearl wrote:
Just remember the $25 will post before the statement cuts that month so you need more than that on the balance to offset it...

So true! I wasn't prepared that one month. LOL It's always a good idea just to hAve this as your cell phone bill or something.

Re: BoA Better Balance Rewards

MACFRME — Mon, 09 Dec 2013 14:56:05 GMT

I am just using it for gas each month. I don't use more than like $200, which will not upset my utilization too much if it reports. This will leave me with 3 accounts reporting balances, however. My usage is sitting around 8% right now, and that dropped my FICO about 20 points.

Re: BoA Better Balance Rewards

Anonymous — Mon, 09 Dec 2013 14:58:39 GMT

I'm debating apping for this, the Cash rewards, both or neither. haha...the $25 quarterly is a great perk and I could just pay my insurance on it.

Descisions, decisions.

Re: BoA Better Balance Rewards

kkapdolee — Mon, 09 Dec 2013 19:30:49 GMT

Has anyone actually answered OP's question?

What is the minimum expenditure one needs to put on the card each month?

Can it be $0.01?

I was recently approved for the card but haven't received it yet.

Re: BoA Better Balance Rewards

darkpearl — Mon, 09 Dec 2013 19:45:17 GMT

Even if you are putting $25 for the non-bonus months and $50 for the bonus month, that is $25 for $100 which is a 25% cash back rate. Definitely beats whatever other card you would have put that money on.

Re: BoA Better Balance Rewards

09Lexie — Mon, 09 Dec 2013 19:53:09 GMT

There's been a few threads in the past. The consensus was allow more than $2.00 to report, to be safe $5.00.

http://ficoforums.myfico.com/t5/Credit-Cards/BoA-Better-Balance-Rewards-Breakdown/m-p/2255725#M632100