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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.

1,239 Comments

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#691
Quote from lex2000 View Post :
The "per quarter" status is based on payment due date(not statement cut date). So if the card is converted on early March and a payment is due later, even if the card is not received/activated by then, its already in system thus qualifies the 1st quarter bonus.

I didn't receive the March bonus because my card is due on every 2nd of the month and that falls into the 2nd quarter.
My card is due on 19th of the month and I received the March bonus. I think if your card is approved and in system prior to ststement cut date, you will get your bonus, assuming all other terms are satisfied.
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#692
my card just arrived on 4/4/2013 and I activated it right away, today I see that I have received $30 rewards already, wow..
OP Thanks again, repped.
older boa CC had $30 annual fee, now I save $30 a year + make $120
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#693
I converted my card a over a month ago and still haven't received my new one. It shows online that the card was converted. They told me I should get it within 5-10 business days. Does it take this long for anyone else?
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#694
Quote from YanksIn2009 View Post :
Since this does not even give you 1% back, it is pretty useless imo unless you just want to make $100 by charging a buck or two to the card each month. Hardly worth the trouble and you can sign up for cards that give you $100-$400 for spending a certain amount in the first 3 months that are much better than this (Chase Freedom, Amex Blue, SW Visa, etc.).
That's how I see it as well. It should at least have the standard (pretty standard) 1%. Plenty of 1% cards out there that have sign up bonuses. You'd need to hold and screw with this card for 2-3 years just to break even compared with what you'd get up front with a bonus card.
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#695
Quote from matrix5k View Post :
I converted my card a over a month ago and still haven't received my new one. It shows online that the card was converted. They told me I should get it within 5-10 business days. Does it take this long for anyone else?
2-4weeks to convert.
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#696
unless you had a payment due in March, you won't be getting a bonus until july.
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#697
Quote from promemorex View Post :
I converted both of my BofA cards to this new one. I had no spending on both cards on previous months before converting.

I got $30 as a statement credit to my CC. I spent over $200 before the billing statement closed before I got the card.

My 2nd BofA card didn't get it when I had only spent 4 dollars on it. I guess maybe there's a minimum spending requirement a month in order to get the bonus.
Just want to be clear what you means.

So you have one credit card
- you had no spending on this card on previous months
- But you did spent over $200 before the billing statement closed before you got the card
- and this card you got $30 as statement credit

For another credit card
- also you had no spending on this card on previous months
- But you did spent $4 dollar on it before the billing statement closed? So the other card you spent $200+ and this one over $4?
- and this card you didn't get any statement credit
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#698
Just saw this thread, where was it hiding?

I signed up, going to use this card just for my cell phone bill. Easy $100 cash back a year. Thx OP.
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#699
Quote from MozartA View Post :
Just want to be clear what you means.

So you have one credit card
- you had no spending on this card on previous months
- But you did spent over $200 before the billing statement closed before you got the card
- and this card you got $30 as statement credit

For another credit card
- also you had no spending on this card on previous months
- But you did spent $4 dollar on it before the billing statement closed? So the other card you spent $200+ and this one over $4?
- and this card you didn't get any statement credit

that is correct.
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#700
Just noticed this transaction.. Looks like a free $30 already without doing anything

04/04/2013 Collapse transaction for Transaction date: 04/04/2013 QUARTERLY CASH REWARDS
Transaction date: 04/04/2013
Card type: Visa
Transaction type: ATM Cash Advances or Bank Transaction
Reference number: XXXX
Merchant information ,
Type Bank Transaction
-$30.00
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#701
I was accepted I called and it was changed so that was easy and smooth question how long will this take to receive my card in the mail?
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#702
Can you guys comfirm it for me? I used my BOA CC every month and paid in full amount. If I convert my card after 4/4/2013, am i still qualified for the first quarter bonus?

Thanks a lot
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#703
Quote from MozartA View Post :
Just want to be clear what you means.

So you have one credit card
- you had no spending on this card on previous months
- But you did spent over $200 before the billing statement closed before you got the card
- and this card you got $30 as statement credit

For another credit card
- also you had no spending on this card on previous months
- But you did spent $4 dollar on it before the billing statement closed? So the other card you spent $200+ and this one over $4?
- and this card you didn't get any statement credit
Quote from promemorex View Post :
that is correct.
how about the statement closing dates and the payment due dates? were both of them in march for both the cards? or if some of them were in april (which ones?)?
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#704
Quote from crazee_an View Post :
how about the statement closing dates and the payment due dates? were both of them in march for both the cards? or if some of them were in april (which ones?)?
Both closed on the 2nd of April. Payment due May 1st. I always pay when I receive the statement online.
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#705
Quote from promemorex View Post :
Both closed on the 2nd of April. Payment due May 1st. I always pay when I receive the statement online.
hmmm.. very interesting.. almost seems like both these balances should have counted for second quarter instead.. you did not have any balances on your statements before this one, right?
Reply Helpful Comment? 0 0
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