Bank of America Cash rewards redemption ?

[Closingracer99]

It says we can only Direct deposit it into a Bank of America Checking account or Statement credit? If so This card will be rarely used.

[mongstradamus]

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@Closingracer99 wrote:

It says we can only Direct deposit it into a Bank of America Checking account or Statement credit? If so This card will be rarely used.

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Hmm i haven't had boa credit card in ages, and when i did it wasn't an cash back one. I was looking at the BBR card they have, i am trying to determine if i should get one to supplement a fidelity amex card. Statement credit wouldn't be horrible but would rahter have cash in hand. 

[Closingracer99]

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@mongstradamus wrote:

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@Closingracer99 wrote:

It says we can only Direct deposit it into a Bank of America Checking account or Statement credit? If so This card will be rarely used.

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Hmm i haven't had boa credit card in ages, and when i did it wasn't an cash back one. I was looking at the BBR card they have, i am trying to determine if i should get one to supplement a fidelity amex card. Statement credit wouldn't be horrible but would rahter have cash in hand. 

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Me to ... Most "Cash Back" cards allow you to do that ... Shame Bank of America does this ...   Sigh I guess  I will have to let a $100+ Balance post just so i can use the $100 bonus this month. Already am showing a $394 balance on my Chase Freedom card 

[mongstradamus]

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@Closingracer99 wrote:

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@mongstradamus wrote:

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@Closingracer99 wrote:

It says we can only Direct deposit it into a Bank of America Checking account or Statement credit? If so This card will be rarely used.

---

Hmm i haven't had boa credit card in ages, and when i did it wasn't an cash back one. I was looking at the BBR card they have, i am trying to determine if i should get one to supplement a fidelity amex card. Statement credit wouldn't be horrible but would rahter have cash in hand. 

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Me to ... Most "Cash Back" cards allow you to do that ... Shame Bank of America does this ...   Sigh I guess  I will have to let a $100+ Balance post just so i can use the $100 bonus this month. Already am showing a $394 balance on my Chase Freedom card 

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yeah oh well i think i will just keep it simple and use something like qs or fidelity amex for everyday stuff to maximize cash back , i am too confused with BBR card. 

[Closingracer99]

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@mongstradamus wrote:

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@Closingracer99 wrote:

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@mongstradamus wrote:

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@Closingracer99 wrote:

It says we can only Direct deposit it into a Bank of America Checking account or Statement credit? If so This card will be rarely used.

---

Hmm i haven't had boa credit card in ages, and when i did it wasn't an cash back one. I was looking at the BBR card they have, i am trying to determine if i should get one to supplement a fidelity amex card. Statement credit wouldn't be horrible but would rahter have cash in hand. 

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Me to ... Most "Cash Back" cards allow you to do that ... Shame Bank of America does this ...   Sigh I guess  I will have to let a $100+ Balance post just so i can use the $100 bonus this month. Already am showing a $394 balance on my Chase Freedom card 

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yeah oh well i think i will just keep it simple and use something like qs or fidelity amex for everyday stuff to maximize cash back , i am too confused with BBR card. 

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You get a $25 Statement credit i believe every quarter if you let $26 basically left on the card to report.  I almost regret getting this card but oh well it is a Mastercard and a WMC at it so I am happy with it 

[mongstradamus]

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@Closingracer99 wrote:

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@mongstradamus wrote:

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@Closingracer99 wrote:

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@mongstradamus wrote:

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@Closingracer99 wrote:

It says we can only Direct deposit it into a Bank of America Checking account or Statement credit? If so This card will be rarely used.

---

Hmm i haven't had boa credit card in ages, and when i did it wasn't an cash back one. I was looking at the BBR card they have, i am trying to determine if i should get one to supplement a fidelity amex card. Statement credit wouldn't be horrible but would rahter have cash in hand. 

---

Me to ... Most "Cash Back" cards allow you to do that ... Shame Bank of America does this ...   Sigh I guess  I will have to let a $100+ Balance post just so i can use the $100 bonus this month. Already am showing a $394 balance on my Chase Freedom card 

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yeah oh well i think i will just keep it simple and use something like qs or fidelity amex for everyday stuff to maximize cash back , i am too confused with BBR card. 

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You get a $25 Statement credit i believe every quarter if you let $26 basically left on the card to report.  I almost regret getting this card but oh well it is a Mastercard and a WMC at it so I am happy with it 

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Hmm so its basically 100 an year no matter what is that gist of it ? So i could just leave something like say my auto insurance to go thru BBR and I would be fine ?

[Turbobuick]

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@mongstradamus wrote:

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Hmm so its basically 100 an year no matter what is that gist of it ? So i could just leave something like say my auto insurance to go thru BBR and I would be fine ?

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The $25 per quarter card is called the "balance rewards" which is a different animal than most rewards cards.  I own their sig visa rewards 3-2-1 gas-food-everythingelse(1500/mo). I also own their business mc rewards which offers the same rewards as the sig visa, but if I put on minimum $250/mo they wave my business acct fees. In essence I have a $16 reward(acct fees) every month on top of the 3-2-1 the card offers, so I make sure to get the quota on there. Once that requirement is met, I can then use the better rewards cards.

Though getting statement credit for rewards redemption is really no different than getting a check in the mail as it pretty much all adds up the same. Because I bank at BofA, I do get a 10% bonus for putting the rewards redemption into my bus. checking.