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
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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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I actually tried it on a Sunday, worked for both gas and online shopping, same day switch.
One at any given time- you can change once a month.
(you can also have more than 1 card, each with a different category picked, which a number of folks do)
(you can also have more than 1 card, each with a different category picked, which a number of folks do)
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But this is 5.25% if you have Plat status with BOA. Which is somewhat harder to get in all the relevant categories available.
To become a Preferred Rewards member you will need:
An active, eligible Bank of America checking account
A three-month combined average daily balance of $20,000 or more in qualifying Bank of America deposit accounts and/or Merrill® investment accounts.
Why should people keep $20,000 in a bank just because want to earn 5.25% cash back by using their credit card? It is not worth of doing that.
To become a Preferred Rewards member you will need:
An active, eligible Bank of America checking account
A three-month combined average daily balance of $20,000 or more in qualifying Bank of America deposit accounts and/or Merrill® investment accounts.
Why should people keep $20,000 in a bank just because want to earn 5.25% cash back by using their credit card? It is not worth of doing that.
I suspect the majority of people (myself included) have transferred their IRA to Merrill Edge in order to qualify. From there, I can still invest in low cost ETFs at no additional charge.
To become a Preferred Rewards member you will need:
An active, eligible Bank of America checking account
A three-month combined average daily balance of $20,000 or more in qualifying Bank of America deposit accounts and/or Merrill® investment accounts.
Why should people keep $20,000 in a bank just because want to earn 5.25% cash back by using their credit card? It is not worth of doing that.
Yeah keeping 20k (and really, it's 100k to get the best benefits) in a checking account is silly.
But 100k in an IRA or other investment account earning the same return you'd get in another other investment account-- PLUS getting 5.25% back on credit card categories, and 2.625% cash back on non-category- that's a slick deal... especially for those whose lifestyles make cash back a better idea than flexible travel points.
IIRC I also got like a $900 signup bonus or something when I opened my investment accounts too.... (though these offers vary throughout the year)
But 100k in an IRA or other investment account earning the same return you'd get in another other investment account-- PLUS getting 5.25% back on credit card categories, and 2.625% cash back on non-category- that's a slick deal... especially for those whose lifestyles make cash back a better idea than flexible travel points.
IIRC I also got like a $900 signup bonus or something when I opened my investment accounts too.... (though these offers vary throughout the year)
...wut?
This thread isn't about citibank.
It's about BoA.
Which owns Merrill Lynch- and opening your IRA there qualifies you for the BoA status.
What reasons, specifically, do you have for suggesting people open an IRA with Fidelity rather than at ML?
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As they are required , as are all other fdic
banks, to do. Please provide us with a llist of those charges they flagged on your account - interesting read my guess.