BoA offer for 1.5% new credit card

[Credit12Fico]

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@FalconSteve wrote:

Not sure why they are offering 1.5% when WF and others are offering 2%

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Many people don't trust WF.  Also, different banks have different underwriting. Just because WF has a 2% card doesn't mean WF will approve you for it. 

[Curious_George2]

I haven't seen this mentioned anywhere, but according to a CSR I spoke to today (grain of salt advised), this card will open up to the public for apps and PC on Sunday, 7/18. For now, only people who were targeted with the invitations can get it. 

[Anonymous]

I might be missing something, but with BoA travel rewards visa already offering a flat 1.5% (but also no ft fee and 3% at boa's travel site), I'm not sure what the point of the new card is.

[Namaste7]

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@Anonymous wrote:

I might be missing something, but with BoA travel rewards visa already offering a flat 1.5% (but also no ft fee and 3% at boa's travel site), I'm not sure what the point of the new card is.

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It's for customers who prefer cash-back over points (and do not hold the Premium Rewards card to cash out TR points). For Preferred Reward customers, you can earn 5.25% CB on a category of your choice or 3.5% CB at groceries or warehouse up to $2,500 per quarter and 2.62% CB on all other purchases with no AF and potential cumulative credit line up to $99k, dependent upon income and credit. 

BofA is not geo-fenced, they offer SP CLIs, and regular BT and low APR purchase promos for many customers. 

[coldfusion]

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@Namaste7 wrote:

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@Anonymous wrote:

I might be missing something, but with BoA travel rewards visa already offering a flat 1.5% (but also no ft fee and 3% at boa's travel site), I'm not sure what the point of the new card is.

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It's for customers who prefer cash-back over points (and do not hold the Premium Rewards card to cash out TR points). For Preferred Reward customers, you can earn 5.25% CB on a category of your choice or 3.5% CB at groceries or warehouse up to $2,500 per quarter and 2.62% CB on all other purchases with no AF and potential cumulative credit line up to $99k, dependent upon income and credit. 

BofA is not geo-fenced, they offer SP CLIs, and regular BT and low APR purchase promos for many customers. 

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They'll go over the $99.9K threshold if someone warrants it either due to spend pattern or having them manage significant (as in Platinum Honors more than a few times over) assets. We have had and still have members here that have individual BoA cards at $99.9K+, others past that threshold in aggregate with multiple BoA cards.

[TSlop]

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@Anonymous wrote:

I might be missing something, but with BoA travel rewards visa already offering a flat 1.5% (but also no ft fee and 3% at boa's travel site), I'm not sure what the point of the new card is.

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Correct me if I am wrong, but the Travel Rewards card 1.5%/1.5X can only be redeemed as statement credit for travel/dining purchases? I don't have the card though, so I am just going off of what "redeem" area says on the card website. To me, it sounds like it is just erasing travel/dining purchases, and doesn't act as a general cashback card.

[Anonymous]

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@Namaste7 wrote:

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@Anonymous wrote:

I might be missing something, but with BoA travel rewards visa already offering a flat 1.5% (but also no ft fee and 3% at boa's travel site), I'm not sure what the point of the new card is.

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It's for customers who prefer cash-back over points (and do not hold the Premium Rewards card to cash out TR points).

Gotcha. That makes sense. It's been a while since i looked at the travel rewards card - I'd forgotten that it was limited to statement credit.

[FieryDance]

We have 3 Customized CR cards between DH and I and neither received the invitation.  

I just PC'ed my BoA Premium Rewards to Travel Rewards.  Wish I had waited a little so I could PC it to this new card.  Hopefully I will be able to do it a few months down the road. 

[Anonymous]

I just logged into my BofA account and was greeted with an offer for a credit card that I did not know existed... the Bank of America Unlimited Cash Rewards card.

It seems that this card is similar to Chase's Freedom Unlimited card with a 1.5% cashback.

In addition to the $200 cash bonus for $1,000 spend in the first 90 days, the offer includes:

Does anyone here have this card?  A search of the forum doesn't bring up any results.

[BearsCubsOtters]

Hello,

It has been discussed here:

https://ficoforums.myfico.com/t5/Credit-Cards/BoA-offer-for-1-5-new-credit-card/td-p/6370564

I would imagine your thread post will be moved there.  Thank you for posting; it is strange that they would have just gone for 1.5%