BOA Cash Rewards or Better Balance Rewards?

Anonymous · ‎01-28-2015

Hi, everyone. I just spoke with a BOA customer service agent via online chat and I was told that after February 15th I can change my basic BankAmericard to either a Cash Rewards card or a Better Balance Rewards card. I'm not sure which card I should go for. Which one would you guys suggest I get? Do any of you have experience with either card?

Anonymous · ‎01-28-2015

Everyone gauges cards differently, but one of the main measures with which I grade a card is how outclassed it is by other cards. Generally speaking, there are cards that offer higher rewards on gas and groceries than BOA Cash Rewards (Sallie Mae comes to mind, depending on how well you would stay under the monthly caps). There is nothing that outclasses BOA BBR; the card gives you (at a minimum) a free $25 each quarter for simply putting your Netflix subscription on it and paying your statements on time. There is nothing else like it! And even if there were a card that did a better job than BBR at its niche, there would be no harm in getting both cards. Having both would just give you more cashback.

tl;dr Get the BBR

happypill · ‎01-28-2015

You should go for the BBR. The Cash Rewards is very similar to the Quicksilver you already have. The BBR would be complimentary to what you already have. Just make some minimal charges to it, pay off greater than the minimum each month (preferably PIF), and get the $100 per year rewards. You can still run most of your charges through a different card and collect those rewards as well.

Odiseous · ‎01-28-2015

@Anonymous wrote:
Hi, everyone. I just spoke with a BOA customer service agent via online chat and I was told that after February 15th I can change my basic BankAmericard to either a Cash Rewards card or a Better Balance Rewards card. I'm not sure which card I should go for. Which one would you guys suggest I get? Do any of you have experience with either card?

Did they say what makes your card eligible for the PC after Feb 15? I've tried PCing my BankAmericard to BBR via online chat and in the branch, and was told that the card "is not eligible" for a PC to BBR. They wouldn't elaborate on what makes it "not eligible." I've had the card since May 2011.

TU98 751, EQ 766, EX 766 (Lender)

If at first you don't succeed; Garden for 6 months, then try again.

Work the system. Don't let the system work you.

kdm31091 · ‎01-28-2015

I don't think they let most people PC to BBR, so OP is a unique case indeed.

Between the two I'd opt for BBR. I don't find it that exciting, because it's not really a true cash back card -- it's $25 no matter what you spend. However, it's still an easy $25, and the Cash Rewards is not very exciting especially with the cards you already have.

lukepwnsall · ‎01-28-2015

I was able to do a couple product changes with BOFA. I was able to start of with a secured card $300 limit with the 1-2-3 Rewards. and then after if became unsecured at 5months and Increased CL to $500(costed a HP worth it). Afterhaving that for a couple months I aksed if I can change the card I was told I can do either TR or BBR I did BBR they sent me a new card as well as new card number although it stayed Visa. after Having the card for a year appd for a Americard got approved 7.5k was told it was gonna be a visa signature (wasnt) but then called the same day and got it Product changed to Siggy rewards (i think its world Points but better than the nothing before). sent me a new card but same terms and APR stuff. just added rewards and signature (aparently the vanilla card isnt a signature qualifying card).

TU 786 (10/23) EQ 794 (10/23) EX 773 (10/23)

Anonymous · ‎01-28-2015

They didn't say why I would be eligible for either card. I just asked which cards would I be eligible to PC my card to and they said cash rewards or BBR. I'm thinking though that BBR might be an option for me because my credit score has improved since they approved me via recon for the card I have now.

Thanks guys for your suggestions. You've made a lot of really good points. I think I'll go for the BBR when I have the opportunity in February.

Anonymous · ‎01-29-2015

I'd actually lean toward the cash rewards. First off it has a 100 dollar signup bonus. 3% on gas and 2% on groceries is nice as well. This can cover your gas and groceries when Freedom or It aren't offering it. With Freedom and Discover It offering less gas categories this is a nice card to double the % you would get with quicksilver. IMO the Cash Rewards has better "right now" value while the Better Balance will have higher value over a number of years.

I'd get the Cash Rewards now and the Better Balance sometime down the road, but you really can't "go wrong" either way. Good arguments could be made for either route.

Blodreina · ‎01-29-2015

Cash rewards if it will be your main spend card. BBR if it will be used sparingly.

Anonymous · ‎01-29-2015

@Anonymous wrote:
I'd actually lean toward the cash rewards. First off it has a 100 dollar signup bonus. 3% on gas and 2% on groceries is nice as well. This can cover your gas and groceries when Freedom or It aren't offering it. With Freedom and Discover It offering less gas categories this is a nice card to double the % you would get with quicksilver. IMO the Cash Rewards has better "right now" value while the Better Balance will have higher value over a number of years.

I'd get the Cash Rewards now and the Better Balance sometime down the road, but you really can't "go wrong" either way. Good arguments could be made for either route.

I don't think he will qualify for the sign up bonus since OP is PCing, not putting in a new application.