Experiences with BOA Cash Rewards?

[Anonymous]

To those who have this card, what are your thoughts and experiences with this card? How is the redemption rate? How is cash back rewarded; is it statement credit, gift card, etc? How much do I have to earn before I can redeem for the cash back rewards? How does the Preferred Rewards work? And lastly, would you recommend this card for a starter?

[eddie84]

For redemption you can choose from the following options:

• checking (10% customer bonus)
• saving (10% customer bonus)
• statement credit
• personal check (10 days or more for delivery)

Minimum amount for redemption is $25.  Easy to use and redeem, even more useful if you do banking with them.  My wife uses it all the time and she has like $500 or more that she hasn't redeemed yet.

[Anonymous]

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@eddie84 wrote:

For redemption you can choose from the following options:

• checking (10% customer bonus)
• saving (10% customer bonus)
• statement credit
• personal check (10 days or more for delivery)

Minimum amount for redemption is $25.  Easy to use and redeem, even more useful if you do banking with them.  My wife uses it all the time and she has like $500 or more that she hasn't redeemed yet.

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Thanks, that was very helpful. Small question, when you say the minmum amount for redemption is $25, do you mean in increments of $25? Or anything over $25 ie: $26.49?

Do you have any experience with the Preferred Rewards?

[eddie84]

Sorry, I should've been more clear.  It's $25 and above and nope, I don't have the Preferred Rewards. 

[Anonymous]

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@Anonymous wrote:

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@eddie84 wrote:

For redemption you can choose from the following options:

• checking (10% customer bonus)
• saving (10% customer bonus)
• statement credit
• personal check (10 days or more for delivery)

Minimum amount for redemption is $25.  Easy to use and redeem, even more useful if you do banking with them.  My wife uses it all the time and she has like $500 or more that she hasn't redeemed yet.

---

Thanks, that was very helpful. Small question, when you say the minmum amount for redemption is $25, do you mean in increments of $25? Or anything over $25 ie: $26.49?

Do you have any experience with the Preferred Rewards?

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Anything over $25.  The Cash Rewards card was my first card.  It was made obsolete by my Sallie Mae Mastercard and Amex TE card.  Unless you're spending a lot of money on gas & groceries, with gas being your big runner, there are better cards on the market.  The Amex BCE card gives 3% at grocery stores, 2% on gas.  The Sallie Mae Mastercard gives 5% and 5%, up to $250 in each category.  The AARP card from Chase gives 3% on gas, 3% on dining.  It's a pretty lackluster card IMO.  I had my product changed to the Travel Rewards and haven't looked back.  Personally, I may consider getting the card in the future, but I'm not allowed to discuss those reasons here.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@eddie84 wrote:

For redemption you can choose from the following options:

• checking (10% customer bonus)
• saving (10% customer bonus)
• statement credit
• personal check (10 days or more for delivery)

Minimum amount for redemption is $25.  Easy to use and redeem, even more useful if you do banking with them.  My wife uses it all the time and she has like $500 or more that she hasn't redeemed yet.

---

Thanks, that was very helpful. Small question, when you say the minmum amount for redemption is $25, do you mean in increments of $25? Or anything over $25 ie: $26.49?

Do you have any experience with the Preferred Rewards?

---

Anything over $25.  The Cash Rewards card was my first card.  It was made obsolete by my Sallie Mae Mastercard and Amex TE card.  Unless you're spending a lot of money on gas & groceries, with gas being your big runner, there are better cards on the market.  The Amex BCE card gives 3% at grocery stores, 2% on gas.  The Sallie Mae Mastercard gives 5% and 5%, up to $250 in each category.  The AARP card from Chase gives 3% on gas, 3% on dining.  It's a pretty lackluster card IMO.  I had my product changed to the Travel Rewards and haven't looked back.  Personally, I may consider getting the card in the future, but I'm not allowed to discuss those reasons here.

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Oh ok. I was just looking at this card since I'm faily new to credit. My history is relatively short so I just take what I can get. I'll be sure to upgrade to better cards in the future though.

[pipeguy]

Just canceled mine, $100 signup bonus = great, 0% for 12 months good (many other cards do this), BoA willing to increase CL off the silly low starting limit = super fail.

Zero interest in any BoA card in the future - although most on this board think highly of BoA.

[Anonymous]

Just got mine last month, approved $1000, recon to $19,500. Rewards come in quick depending where you spend.

[TrueGeminiNC]

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@Anonymous wrote:

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@eddie84 wrote:

For redemption you can choose from the following options:

• checking (10% customer bonus)
• saving (10% customer bonus)
• statement credit
• personal check (10 days or more for delivery)

Minimum amount for redemption is $25.  Easy to use and redeem, even more useful if you do banking with them.  My wife uses it all the time and she has like $500 or more that she hasn't redeemed yet.

---

Thanks, that was very helpful. Small question, when you say the minmum amount for redemption is $25, do you mean in increments of $25? Or anything over $25 ie: $26.49?

Do you have any experience with the Preferred Rewards?

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You get a 25% bonus as a Preferred Rewards Gold customer.  

[Marcos8]

It's a good card. It doesn't earn like my BCP but it also has no AF. Expect a TU hard inquiry for Cli's but that pull is good for 30 days if you choose to recon with a credit analyst. I find their cash back deals very weak compared to my Amex but overall not a bad card at all. I just called today to get the new updated style card sent to me as I still had the old boring looking card for a while now.