If I already have BankAmericard Cash Rewards, will I be able to get this one too?
I'm assuming they'd probably reject it since they're equivalent cards?
(Just noticed this is a MasterCard, whereas the card before is Visa. Maybe it will go through?)
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.
Does the card still offer 1% back on purchases on top of the free $100/year for paying on time?
Nope. Just the $25 per quarter plus an extra $20 if you have an account with boa. So total $120 per year. No other rewards according to chat.
"Louis: BankAmericard Better Balance Rewards earns rewards only on payments.
You: okay so the $25 per quarter only correct?
Louis: The BankAmericard Better Balance Rewards credit card lets you earn up to $120 in cash rewards each year: $25 each quarter in which you pay any amount more than the minimum due each month, and every payment is on time and an extra $5 each quarter, if you have a qualifying account.
Louis: Yes, absolutely.
You: okay so no other rewards besides that right? just want to be sure
Still an amazing deal. Even if you spent $2500 on the card (you couldn't get another card with better rewards) it would still be 1% cash back that directly deposits to checking/savings.
But it's like getting free money. You only have to spend a minimum amount.
Wondering if I should wait for a better deal though. Maybe they'll offer additional benefits.
BankAmericard® Better Balance Rewards™ Program Information. 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. 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.
Awesome calling this out.
BofA ftl. Bauerfinancial.com rates BofA at three stars. I'd only deal with banks that are 4 or 5 stars and has as much minimal derivatives exposure as possible.
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