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Bank of America AmeriCard: $100 Cash Back (when you spend 500 in 3 months) & 5% Cash Back Rewards on Gas, Groceries & Drugstores (for the 1st 6 months)

teammoney 417 June 7, 2011 at 06:39 AM in Finance (7)
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Probably have been better deals in the past but thought I would try to give back to the community that has helped me save $$. First deal post so forgive me if anything is wrong Big Grin.

On Bank of America's Front Page: www.bankofamerica.com

Link to apply for the card [applyonlinenow.com]

No annual fee. Spend $500 in 3 months to get your reward. The 5% bonus on gas, groceries and drugstore purchases is awesome with these rising gas prices...

In my opinion, it's easy to get approved because I applied back in December with no previous credit cards and was approved.

For new customers only. From my experience, the 5% cash back reward points post at the end of your monthly billing cycle. They do not have an expiration date.

I did not see any where on the site where this promotion ends.

From the website: "You will qualify for $100 in bonus cash rewards if you use your new account to make purchases totaling at least $500 (exclusive of credits, returns and adjustments) that post to your account within 90 days of the account open date. Limit (1) item per new account. This one time promotion is limited to new customers opening an account in response to this offer. Allow 8-12 weeks from qualifying for the bonus cash rewards to post to your rewards balance."

"Cash rewards shall be issued for a U.S. dollar sum in the form of a statement credit, check, an electronic deposit to a checking or savings acct of your choice or a payment towards a mortgage loan with Bank of America (excluding reverse mortgages) or another mortgage lender."

16 Comments

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#2
the 5% cash back is only for the first 6 months....
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#3
Quote from harshlakhani View Post :
the 5% cash back is only for the first 6 months....
Thanks for the post... yes I mentioned that above... I bet people are not going to keep the card after they get the $100 dollars any ways so this is perfect lol
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#4
Nice deal if you couldn't get the AARP visa
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#5
Quote from teammoney View Post :
Thanks for the post... yes I mentioned that above... I bet people are not going to keep the card after they get the $100 dollars any ways so this is perfect lol
WhT idiot would apply for a credit card for $100 only to close it later.
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#6
Quote from panjabisher View Post :
WhT idiot would apply for a credit card for $100 only to close it later.
I've read a lot of SD'ers have done it in the past. But if you're thinking it costs $100 dollars to open this card then... Roll Eyes (Sarcastic)
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#7
Quote from teammoney View Post :
I've read a lot of SD'ers have done it in the past. But if you're thinking it costs $100 dollars to open this card then... Roll Eyes (Sarcastic)
I think what he meant was that there were some recent credit card deals that offered much more than 100 dollars bonus. For example, the BA 100k miles, Amex 50k points (I read some got private invites for 75kMad), chase shappire 50k points, and so on. So relatively speaking 100 dollars is a bit low for an opening bonus. Now if this card had 5% cash back (gas, groceries) for an unlimited amount of time, then that would really be an hot deal. I do think he could have been a bit more polite with his words. I mean we don't really want to discourage people from posting deals thinking they are going to get flamed for it.
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#8
AARP card is better in case anyone is considering this card. Also, you can get 5 pts/$ with some citi cards and it's not just for 6 months
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#9
You can open a checking account with Chase and get $125.. Get a lower hit on your credit score...
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#10
well no annual fee cards are a nice way to begin your credit history...just never close them...
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#11
also to note:

Introductory 0%_ APR only for Purchases for your first 12 billing cycles. After the Intro APR ends, a rate between 12.99% and 20.99% Variable APR will apply to Purchases.

Base reward is 1%

Earn cash rewards of 1% of new net retail purchase transactions (qualifying purchases less credits, returns and adjustments) charged to the card each billing cycl
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#12
i just got approved for the bofa visa sig card. I chose this card (in addition to the $100 bonus and no annual fee for visa signature) because I found out if you accrue at least $300 in cash rewards when you redeem it, you get an additional 25% in rewards. so if you are patient and wait to redeem your rewards, it can be higher than 1%.
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#13
Going to Apply cause I need to get as much credit under my arm. I started at 590 with nothing at 17 (Got my first credit card at 17 through CO after I learned a cat got a card), now 753. Managing credit is a dangerous dangerous game (Also the shopping here at SD doesn't help) Stick Out Tongue but as long as you stay focus and know the way of the game which there is a lot to learn, you'll be fine. $100 CB isn't the best but still something. No annual fee is key for me. Though I would love a AAdvantage card, I don't think I will fully utilize it to "get my moneys worth" to offset the annual fee.

APPROVED and REP!
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#14
Also nice I can finally get in on some of those Visa signature deals here on SD Stick Out Tongue
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#15
Approved for 1. This is one of the few BofA credit cards that offers a cash reward. If you spend the required $500 to get the bonus on gas and groceries, you will end up with $125 total in cash back.

Quote from panjabisher View Post :
WhT idiot would apply for a credit card for $100 only to close it later.
I have to laugh at responses like this. laugh out loud This deal will take a total of 15 minutes of my time: to apply, activate the card, and request a check or direct deposit. I don't know about your line of work, but I sure don't make $500/hour through my employer.

I end up supplementing my income with anywhere from $1000-$3000/year through simple bank/credit card deals like this. My wife and I use it as our mad money. I pay for most of my tech toys through deals like these. nod
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