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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The higher tier/buy in programs, as the link notes, don't actually offer much benefit over the other program with the 100k requirement right now... you get some really minor extra stuff like free cashiers checks, a couple free wire transfers a month, and a few additional waived fees. It's possible the 1 million tier will offer more additional stuff- but still shouldn't impact existing folks in the other, cheaper buy-in, program.
Just following this up to close it out since the info is now public.
As I said a while back- this does not impact existing program members at the 100k or lower tiers.
They just added the 2 new tiers at 1 million and 10 million... with no added credit card benefits of any kind
It's a few minor banking fee/loan discounts, and a bunch of "lifestyle" benefits even more obscure and less likely for a typical person to use than what Amex has been doing.
New tiers here:
https://www.privatebank
The "lifestyle" junk here:
https://promotions.bank
Oh, and the things like bigger discount on HELOC and mortgage rates? If you already have one with them- too bad. No added discount for you. Only on new origination.
Will definitely be moving the bulk of my funds out of ML at this point, nothing in the >100k tiers offers anything worth keeping $ in a brokerage so behind the times on offerings and features.
Probably not gonna even leave 100k in there since apparently my existing HELOC rate also won't go UP if I drop tiers either, and the extra couple % I get on CC spend in a year is easily replaced in a week with better trading abilities on a different platform.
I would just apply for the new card because it's less of a hassle. When you product change it takes about 3 to 4 weeks. You won't be able to use that card during that time.