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New Bank of America Credit Card $25 ($30 for Bank of America customer) per quarter for paying on time

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I was looking to open a new credit card for BOFA and found this new credit card that just released yesterday. Not sure if this is a repost BTW.


-Earn $25 in cash rewards each calendar quarter when you pay more than the monthly minimum and pay each bill on time – up to $100 in cash rewards each year
-Get an extra $5 bonus per quarter if you have at least one other qualifying account with us for an additional $20 in cash rewards per year – that's up to $120 in total cash rewards per year
-Rewards are automatically credited to your card balance or you can choose to deposit them into your savings or checking account
-No Annual Fee

0% APR for 12 months



Edit:

So for the first quarter, we pay by April 30.
For second quarter, it would be end of July
For third, it would end of October and it is end of January for the last quarter.
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Created 03-06-2013 at 10:15 AM by JV13
in Finance (2)
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Joined Oct 2009
L3: Novice
> bubble2 161 Posts
42 Reputation
olive787
05-02-2013 at 08:08 AM.
05-02-2013 at 08:08 AM.
Quote from wholeinone04 :
Yea same here, I just got a $25 credit, not sure why? haha
i havent received the $25 statement credit. I don't have checking with bofa, will they put as statement credit?
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Joined Dec 2011
L5: Journeyman
> bubble2 719 Posts
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yash1780
05-03-2013 at 12:52 AM.
05-03-2013 at 12:52 AM.
Quote from wholeinone04 :
Yea same here, I just got a $25 credit, not sure why? haha
Me too got $25 instead of $30, while I have both checking and saving BOA accounts. Not sure why I got only $25ConfusedConfusedConfused
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Joined Nov 2010
L5: Journeyman
> bubble2 553 Posts
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wholeinone04
05-03-2013 at 10:17 AM.
05-03-2013 at 10:17 AM.
Quote from olive787 :
i havent received the $25 statement credit. I don't have checking with bofa, will they put as statement credit?
Yea

Quote from yogesh4342 :
Me too got $25 instead of $30, while I have both checking and saving BOA accounts. Not sure why I got only $25ConfusedConfusedConfused
I don't have checking actually. What I meant was that within a couple days of transferring my account from 123 to BBR I had a SC of $25. Maybe b/c my payment date happened to fall right when I got the new card?
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Joined Jul 2005
L7: Teacher
> bubble2 2,149 Posts
338 Reputation
blueking
05-03-2013 at 05:53 PM.
05-03-2013 at 05:53 PM.
Since this deal was only started in early March this year, how could you get reward from the past quarter (Jan-Mar) already?
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Joined Nov 2009
L6: Expert
> bubble2 1,346 Posts
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warcraft82
05-03-2013 at 06:03 PM.
05-03-2013 at 06:03 PM.
Quote from blueking :
Since this deal was only started in early March this year, how could you get reward from the past quarter (Jan-Mar) already?
Quote :
New Customer
If your account was opened after the start of a new calendar quarter, you can still earn a
Quarterly Cash Reward for that quarter as long as all the payments you make within that
quarter are Qualifying Payments
https://www.managerewardsonline.f...nce_PR.pdf
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Joined Jul 2005
L7: Teacher
> bubble2 2,149 Posts
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blueking
05-03-2013 at 07:15 PM.
05-03-2013 at 07:15 PM.
Quote from warcraft82 :
https://www.managerewardsonline.f...nce_PR.pdf
I see. I didn't get that maybe because I converted one of my existing card to have this feature. Thanks!
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Joined Dec 2011
L2: Beginner
> bubble2 42 Posts
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pencilcase
05-03-2013 at 07:32 PM.
05-03-2013 at 07:32 PM.
I haven't gotten any reward yet. My first purchase was in April though.
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Joined May 2012
L8: Grand Teacher
> bubble2 3,901 Posts
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gswood
05-04-2013 at 09:56 AM.
05-04-2013 at 09:56 AM.
Quote from pencilcase :
I haven't gotten any reward yet. My first purchase was in April though.
Me neither! My first purchase was on march 27.

Just made a min payment yesterday for first statement. Hopefully get rewards soon!
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Last edited by gswood May 4, 2013 at 10:07 AM.
Joined Sep 2011
L6: Expert
> bubble2 1,727 Posts
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56XNO
05-08-2013 at 06:38 AM.
05-08-2013 at 06:38 AM.
Quote from dbl118 :
I think it's fairly straightforward. Spend a minimal amount on the card every month, pay it off, and make $25 for 3 months in a row doing it. You make slightly more if you have a BofA account.

After a couple months of doing it manually, I'm going to at least set up automatic payments . If I could find a way to make it autocharge a couple bucks each month to some utility or something that would be perfect...it would then literally require me to do nothing.
What is "a minimal amount" which you mentioned? I mean how much should I spend for each month? For simple, I spend $1 for each month, pay it off, and receive $25 for that quarter, right?
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Joined Nov 2009
L6: Expert
> bubble2 1,125 Posts
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dbl118
05-08-2013 at 04:01 PM.
05-08-2013 at 04:01 PM.
Quote from baonguyen312 :
What is "a minimal amount" which you mentioned? I mean how much should I spend for each month? For simple, I spend $1 for each month, pay it off, and receive $25 for that quarter, right?
That is what I and others believe to be true. The program is too young to know for certain, the terms are slightly confusing, and assuming that the BofA reps on the phone know more than us is ill adviced. Personally I'm doing $5, but I've always been a big spender.
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Joined Jan 2011
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> bubble2 1,049 Posts
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Powza
05-08-2013 at 05:54 PM.
05-08-2013 at 05:54 PM.
Quote from baonguyen312 :
what is "a minimal amount" which you mentioned? I mean how much should i spend for each month? For simple, i spend $1 for each month, pay it off, and receive $25 for that quarter, right?
$15.01.
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Joined Dec 2006
Baddy Rocker
> bubble2 745 Posts
124 Reputation
mather
05-13-2013 at 01:21 PM.
05-13-2013 at 01:21 PM.
I just got this BOA card and my wife is converting her BOA to this, but neither of us has a BOA checking or savings. Can I open either a single or joint Checking and can both of us link to a single Checking/Savings or would we have to open two separate accts?
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Joined Aug 2004
...
> bubble2 10,014 Posts
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JaTaN
05-14-2013 at 11:15 AM.
05-14-2013 at 11:15 AM.
Quote from mather :
I just got this BOA card and my wife is converting her BOA to this, but neither of us has a BOA checking or savings. Can I open either a single or joint Checking and can both of us link to a single Checking/Savings or would we have to open two separate accts?
Not sure if you can use the same account -- someone else can respond to that

If you don't want to worry about monthly direct deposit requirements then open the eBanking checking account for each of you separately -- no fees as long as you have paperless statements and do all your transactions online or at an ATM (don't do any transactions with a teller)
https://www.bankofamerica.com/dep...account.go (you can open the account online or at a local branch)
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Joined Jun 2013
L3: Novice
> bubble2 132 Posts
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hduncan
06-05-2013 at 09:20 PM.
06-05-2013 at 09:20 PM.
This is interesting - going to have to check it out..!!! Smilie
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Joined Jun 2005
Pessimist
> bubble2 27,179 Posts
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ionizer
06-05-2013 at 09:27 PM.
06-05-2013 at 09:27 PM.
damnit, cant apply for cards while doing the mortgage process

sounds like a nice free $120 a year for those of us with a BOA card.
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