Update: This popular deal is still available
Bank of America is offering a $200 cash rewards bonus offer after you make at least $1000 in purchases within the first 90 days of account opening with their Bank of America Customized Cash Rewards credit card. There is no annual fee.
Thanks to community member ToMaToSauces for finding this deal.
Slickdeals may be compensated by Bank of America.
Original Post
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Edited September 28, 2021
at 08:36 AM
by
Bank of America is offering a
$200 cash rewards bonus offer after you make at least
$1000 in purchases within the first 90 days of account opening with their
Bank of America® Customized Cash Rewards credit card. There is no annual fee.
Slickdeals may be compensated by Bank of America.
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Bank of America - Bank Advertiser
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- You can only get approved for 2 new cards in a 30-day period
- You can only get approved for 3 new cards in a 12-month period
- You can only get approved for 4 new cards in a 24-month period
Apparently it only looks at BofA cards. Where as the Chase 5/24 rule looks at any credit card issued to you, regardless of which company issued it to you.
Edit: Adding the 7/12 and 3/12 rules for BofA higher up to this comment.
"7/12 and 3/12 rule"
"According to this rule, customers with a BofA deposit account will not be approved for new cards if they've opened seven cards (across all issuers) in the last 12 months, while customers without a BoA deposit account will be rejected if they've opened three or more cards in the last 12 months."
Source: https://thepointsguy.co
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Can you try calling their second opinion line? I know chase has one. I has just purchased a car with a 760 score and opened two BOA cards in the same day a month later
It's not really a good card. You're not missing anything.
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Personally, I'd have a hard time spending $7,917 each and every month. Meanwhile, I have credit cards that earn anywhere from 3% to 6% that cover most of my expenditures without needing to tie up so much cash.
You are wise to plan for your new car lease. Most people don't think that far ahead. As to whether this particular credit card suits your needs, I'd need to have a better picture of your spending habits. My guess? You can do better elsewhere.
EDIT:
My guess of doing better elsewhere has to do with the Platinum Honors tier. As far as the the basic Cash Rewards card (without tying up cash in the tier system), I think that most people can find a use for this card.
For myself, one of the biggest "holes" in my cash back/rewards system has been for Online Purchases. The Cash Rewards card helps me plug that hole.
If you put a balance with the Balance transfer.
Then to get into the promotion of $200, you spend another $1000 on it.
So when you make payments, which balance gets paid first? The BT or the new transactions?
Reason why I ask is, the BT is 18 months 0%, and which transactions (if not paid / clear each month, they start incurring interest).
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So from what you are saying, all payments made will bring down the current purchases first.
Thanks.