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

JV13 225 March 6, 2013 at 10:15 AM in Finance (2)
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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

https://www.bankofamerica.com/cre...rewards.go

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.

1,277 Comments

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Joined Feb 2006
L3: Novice
41 Reputation
#616
Converted one of my old credit cards to this over BofA online chat. I had to forfeit a whole 2 points though... But, the whole process went smoothly. Now, to wait 2-4 weeks for my new card...
Reply Helpful Comment? 0 0
Joined May 2008
L3: Novice
58 Reputation
#617
Quote from mitchflorida View Post :
if you open an account and close it in 6 months, does it stay as 6 months for the next ten years? or does it age like an open account?

either way doesn't make much sense

Yes, it stay for 10 years after closed. Yes, it ages like open account, except that it will be dropped from credit report 10 year later after closed.

It makes perfect sense. Very simple. Really.
Average age is based on ALL accounts (both open or closed) on your credit report.
Closed accounts have no impact on AAoA ,only after it is dropped 10 years later.
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Joined Oct 2006
L4: Apprentice
318 Reputation
#618
I called and asked to be converted to the better balance card and the guy I spoke to said it would be no problem. I would get my new cards in the mail in a few weeks. Got them today, it's a cash rewards card....fail.
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Joined Dec 2012
L1: Learner
10 Reputation
#619
Quote from rsc272 View Post :
I already have the other card, and tried applying, but I rec'd the message that they couldn't give me instant approval, and they'd let me know by mail in 30 days. Doesn't look good.

did u get it ??Cool
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Joined Jun 2011
L6: Expert
1,100 Reputation
#620
got my card today in mail. I had converted from visa signature card.
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Joined May 2004
L8: Grand Teacher
756 Reputation
#621
Quote from pumm3l View Post :
I called and asked to be converted to the better balance card and the guy I spoke to said it would be no problem. I would get my new cards in the mail in a few weeks. Got them today, it's a cash rewards card....fail.
lol that sucks.
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Joined Mar 2013
Permanently Banned
31 Reputation
#622
i don't get it don't they want you to pay late so you pay interest? hey i'll take it...
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Joined Nov 2007
L5: Journeyman
135 Reputation
#623
I requested to converted my card way back on the first day of this thread, I have yet to receive my card. How are others getting theirs
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Joined May 2011
why grow up?
52 Reputation
#624
Is there any benefit that a conversion case does not enjoy when compared to those enjoyed by a fresh application?
Reply Helpful Comment? 0 0
Joined Dec 2008
L15: Baron
1,788 Reputation
#625
Quote from checkout View Post :
Is there any benefit that a conversion case does not enjoy when compared to those enjoyed by a fresh application?
Besides not getting the sign up bonus, no
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Joined Feb 2008
L7: Teacher
661 Reputation
#626
Quote from JuMpMaN6235 View Post :
I requested to converted my card way back on the first day of this thread, I have yet to receive my card. How are others getting theirs
You can call or chat with them to make sure yours was sent out.

I just received mine today, so it does take a couple of weeks to process and receive. Thankfully it's the correct type of card, so I should be set.
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Joined Jun 2006
Prison Mike
1,551 Reputation
#627
I requested my conversion via chat when this was first posted. I still haven't gotten my card but I can see the new number and the name Better Balance Rewards card in online banking.
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Joined Nov 2009
L7: Teacher
620 Reputation
#628
Converted the Cash Rewards Visa Signature on the first day via the online chat. A few days ago noticed the new card name online with the old account number. Today received in the mail the new card. The account number was changed and the card was regular Visa, not the Signature. Noticed the new number online. Activated the card over the Internet and set the rewards to deposit into a checking account. The web site says to wait 15 days for the rewards to update deposit preferences. Way to go. Thanks OP for $120 years to come. Should be much easier than Keep the Change 250 $.01 transactions BofA made us to do.
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#629
Quote from checkout View Post :
Is there any benefit that a conversion case does not enjoy when compared to those enjoyed by a fresh application?

You won't get the one year of free interest on purchases.
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Joined Mar 2004
L7: Teacher
60 Reputation
#630
I converted my 123 VISA. They told me I have to spend at least $25 a month to get the bonus. I will just cancel this new card if I don't like it.
Reply Helpful Comment? 0 0
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