Bank of America Cash Rewards vs BoA Americard

[Anonymous]

My APR on my Cash Rewards which I have had since 2017 (the red one) is 25.24%. But I was offered some percs on this Americard (silver) with a 0% APR for 15 months and a 19.99% APR , does it make sense to have them both ? 

[M_Smart007]

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@Anonymous wrote:

My APR on my Cash Rewards which I have had since 2017 (the red one) is 25.24%. But I was offered some percs on this Americard (silver) with a 0% APR for 15 months and a 19.99% APR , does it make sense to have them both ? 

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Having multiple cards can be good, lets say if one gets used fraudulently, then you still have the other.

Also sometimes you will get perks on one card at times, when you do not get them on the other card.

The old adage, do not carry all your marbles in one bag.

Edited to add: Welcome to myFICO forums

[Anonymous]

Thank you @M_Smart007  

[M_Smart007]

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@Anonymous wrote:

Thank you @M_Smart007  

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@Anonymous  ..You are Welcome

[wasCB14]

I think it is possible to have more than one Cash Rewards card. I just got 0% for 15 months on one (WWF cobrand for Visa).

If you want 0% for 15 months, you might as well get $200 and a bonus category card.

[Anonymous]

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@wasCB14 wrote:

I think it is possible to have more than one Cash Rewards card. I just got 0% for 15 months on one (WWF cobrand for Visa).

If you want 0% for 15 months, you might as well get $200 and a bonus category card.

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Now that would be great for 3% categories. One for online purchases, and another for a different category, etc.

But keeping the AmeriCard after the promo may not make much sense, since it isn't a rewards card, unless its residual APR is more attractive than the Cash Rewards card. It could be used for BT and to carry at lower general rates after a promo.

[coldfusion]

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@wasCB14 wrote:

I think it is possible to have more than one Cash Rewards card. I just got 0% for 15 months on one (WWF cobrand for Visa).

If you want 0% for 15 months, you might as well get $200 and a bonus category card.

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You can definitely have more than 1 Cash Rewards card, I have 2 of them and also a MLB card, which is one of the co-branded Cash Rewards variants.  Each card is set to have a different 3% category.

[wasCB14]

@coldfusion

What are the rules as far as SUB eligibility? Given that I have a December PR and a March WWF CR Visa, could I get a regular CR MC or MLB card in a few months with a SUB? Or do they want 2 years between ANY CR variant?

[coldfusion]

No restrictions that I'm aware of and I've twice picked up a card with them less than 2 years after getting the previous one. Never had a problem with getting a SUB.

I picked up the MLB card in February and met the spend requirement last week. They emailed me yesterday confirming that I'll see the $200 SUB after my next statement.

[TSlop]

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@Anonymous wrote:

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@wasCB14 wrote:

I think it is possible to have more than one Cash Rewards card. I just got 0% for 15 months on one (WWF cobrand for Visa).

If you want 0% for 15 months, you might as well get $200 and a bonus category card.

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Now that would be great for 3% categories. One for online purchases, and another for a different category, etc.

But keeping the AmeriCard after the promo may not make much sense, since it isn't a rewards card, unless its residual APR is more attractive than the Cash Rewards card. It could be used for BT and to carry at lower general rates after a promo.

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Random question... are there different variations of the Bank Americard? I have one that was previously offered from the PSU Alumni Association, and it says Bank Americard on it. It also has the 1-2-3% rewards structure. Is this just a special one? I've had it since ~2014..... maybe all the rewards cards back then were the Americard?