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

JV13 664 225 March 6, 2013 at 10:15 AM in Finance (2)
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Last Edited by JV13 March 18, 2015 at 06:39 PM
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.

Community Wiki

Last Edited by MozartA April 7, 2013 at 10:26 PM
Detailed information on the rewards program (PDF): https://www.managerewardsonline.f...nce_PR.pdf
Official T&C: https://www.bankofamerica.com/cre...1999&po=VW

Q: What is the basic features for this card (product)?
A: 0% APR on purchase for NEW customers (credit pull inevitable); No annual fee; $25 quarterly bonus when you make qualifying payments every month; $5 extra quarterly bonus if you also have certain BoA financial product(s), for example, saving and/or checking accounts (other credit cards do not qualify though).

Q: How to be eligible for the $25 quarterly bonus?
A: Quote from the official T&C: "You will earn a $25 cash reward for each calendar quarter in which all of your monthly payments are received on or before the due date and are more than the minimum payment due. You must have a payment due in each of the monthly cycles of the calendar quarter to be eligible for the quarterly cash reward; a zero balance or a credit balance does not qualify." The simple version: have a positive balance on your every statement in a quarter and pay at least minimum amount due before due day instructed on that same statement.

Q: How to be eligible for the extra $5 quarterly bonus?
A: Quote from the official T&C: "If the primary applicant for this card has at least one checking, savings or retirement account with Bank of America N.A., a Cash Management Account®, Merrill Edge® or any other account with Merrill Lynch, Pierce, Fenner & Smith Incorporated or U.S. Trust, the card account will receive a customer bonus of $5 for each quarter you qualify, for a total of $30 per quarter."

Q: How much statement balance should I have to be eligible for the bonus?
A: Any statement balance that is positive (≥ $0.01).

Q: How much should I pay after each statement and before due date for that statement to be eligible for the bonus?
A: Any amount ≥ "minimum payment due". The minimum payment due = (1) $15 when the statement balance ≥ $15; (2) full balance due when the statement balance < $15.

Q: I am a current BOA credit card customer, can I convert my credit card to Better Balance Rewards card? If so, how to? Any credit pull?
A: Yes (most likely, especially for Cash Rewards Card members). You can call in or live chat to convert the product/account type. No credit pull to convert a current BOA credit card to Better Balance Rewards card.

Q: What's gonna happen after I convert my current BoA credit card to this Better Balance Rewards card?
A: You'll be issued a new card with a different number, delivered to you in 2-4 weeks. Your current card is active along with all the benefits, until your new card is activated.

Q: I currently have the 1-2-3 Cash Rewards Card, what will happen to my rewards when I convert this card to Better Balance Rewards card?
A: Your bonus dollars/points will forfeit on the date your new card is activated. Redeem the bonus points/dollars as soon as possible, as least before you activate your new card. --> my bonus points were forfeited (around $30) before I activated my card (I still haven't received the card yet). I am definitely contesting it. I had saved the chat history where rep had confirmed that the rewards will not be forfeited before activation.

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1,347 Comments

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#1306
Quote from rattlingabhi View Post :
Is this promotion only for 1 Year or recurring?
I'm pretty sure it's a recurring promotion.
Reply Helpful Comment? 0 0
#1307
Quote from bullorbear View Post :
Just got my credit
Me too. $30
Reply Helpful Comment? 0 0
#1308
Quote from gswood View Post :
Me too. $30
I got the credit yesterday
Reply Helpful Comment? 0 0
#1309
BOA is making me feel good every time $30 is deposited to my checking account. I hope this card stays forever.

Now I'm trying to use this card more often. $120 annual reward equals $6k spending with my 2% reward credit cards.
Reply Helpful Comment? 1 0
#1310
Just got approved for 18K CL, easy & smooth application. I'll just set my monthly Verizon bill onto this card and use my BOA checking account for auto pay.
Nice deal, thanks !
Reply Helpful Comment? 0 0
#1311
this card, if its the Better Balance Rewards, has been out for a while, I got mine back in July/August and I have already had 1 $30 bonus post, my 2nd one will be after this next payment, and you have to pay MORE than the minimum fyi
Reply Helpful Comment? 0 0
#1312
I just tried converting and they said they don't do it anymore. Frown
Reply Helpful Comment? 0 0

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#1313
Quote from AcemanX View Post :
this card, if its the Better Balance Rewards, has been out for a while, I got mine back in July/August and I have already had 1 $30 bonus post, my 2nd one will be after this next payment, and you have to pay MORE than the minimum fyi
No u don't. I set my Netflix to this with auto pay. Still get the bonus.

Some folks have 3 of these cards too!
Reply Helpful Comment? 0 0
#1314
Making an easy $100 a year on this, too good.
Reply Helpful Comment? 0 0
#1315
Does anyone have issue with the auto payment set up disappeared under "bill pay" auto/recurring payment"? Even thought each month the statement is being auto pay, I wasn't able to find the auto pay setup in my online banking. I even call BOA and the rep. said he couldn't see any as well. Very odd, not to mention at one point BOA auto change my auto payment setting to "auto pay min. balance instead of full statement" caused me to lose out on 2 quarterly bonus.
Reply Helpful Comment? 0 0
#1316
Just discovered something some new owners of this card may not already know. Since I received my first $25 credit for a quarter of good payments on 1/8 like many others, it stayed as a credit on the card. Then the following month it auto-paid the sole $7.99 (Netflix charge) balance I owed from that credit instead, so I didn't have to actually make any payments. This is bad in terms of qualifying for this quarterly reward. What I had to do is call them and ask them to direct deposit that $25 balance (now 17.01) to my bank (Chase not BOA - and can't do this online) so I no longer have a credit on the card and actually make payments. I'll have to do this every time I receive the quarterly credit to avoid this issue. Thankfully I still have time to charge & pay for something else to continue to qualify for this month.

Hopefully this helps some others who may only charge a small amount on it each month.

Quote from ak11228 View Post :
Does anyone have issue with the auto payment set up disappeared under "bill pay" auto/recurring payment"? Even thought each month the statement is being auto pay, I wasn't able to find the auto pay setup in my online banking. I even call BOA and the rep. said he couldn't see any as well. Very odd, not to mention at one point BOA auto change my auto payment setting to "auto pay min. balance instead of full statement" caused me to lose out on 2 quarterly bonus.
I'm on recurring auto pay and don't have this issue. I see it online, and it's still set to pay: Statement balance as shown on e-Bill
Reply Helpful Comment? 0 0
Last edited by rh71 February 8, 2016 at 11:00 AM
#1317
Quote from rh71 View Post :
Just discovered something some new owners of this card may not already know. Since I received my first $25 credit for a quarter of good payments on 1/8 like many others, it stayed as a credit on the card. Then the following month it auto-paid the sole $7.99 (Netflix charge) balance I owed from that credit instead, so I didn't have to actually make any payments. This is bad in terms of qualifying for this quarterly reward. What I had to do is call them and ask them to direct deposit that $25 balance (now 17.01) to my bank (Chase not BOA - and can't do this online) so I no longer have a credit on the card and actually make payments. I'll have to do this every time I receive the quarterly credit to avoid this issue. Thankfully I still have time to charge & pay for something else to continue to qualify for this month.

Hopefully this helps some others who may only charge a small amount on it each month.



I'm on recurring auto pay and don't have this issue. I see it online, and it's still set to pay: Statement balance as shown on e-Bill
Or - you can take the easy route - and have the balance credited to your BOA checking account (if you've one)...that way your bonus is $120 per year, instead of $100 per year.

The big condition being "if" you've a BOA checking account.
Reply Helpful Comment? 0 0
#1318
Too bad most BOA cards SUCK

Like not only do they look lame, the points and cb programs are pedestrian as all hell.
Reply Helpful Comment? 0 0
#1319
Quote from stsd9 View Post :
Or - you can take the easy route - and have the balance credited to your BOA checking account (if you've one)...that way your bonus is $120 per year, instead of $100 per year.

The big condition being "if" you've a BOA checking account.
I looked into it - you need a minimum of like $300 to keep in there. Already have enough bank accounts so I'm not even going to consider it. I only signed up for this CC to get the $100/year to pay for my Netflix (or Amazon Prime). Big Grin
Reply Helpful Comment? 0 0
Last edited by rh71 February 8, 2016 at 12:00 PM
#1320
Quote from ak11228 View Post :
Does anyone have issue with the auto payment set up disappeared under "bill pay" auto/recurring payment"? Even thought each month the statement is being auto pay, I wasn't able to find the auto pay setup in my online banking. I even call BOA and the rep. said he couldn't see any as well. Very odd, not to mention at one point BOA auto change my auto payment setting to "auto pay min. balance instead of full statement" caused me to lose out on 2 quarterly bonus.
Yup, same issue for me - I have other cards set up for auto payment in full, but it's not an option for this card, Strange!
Reply Helpful Comment? 0 0
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