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New Bank of America Credit Card $25 ($30 for Bank of America customer) per quarter for paying on time

JV13 683 225 March 6, 2013 at 11:15 AM in Finance (2)
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Last Edited by JV13 March 18, 2015 at 07:39 PM
I was looking to open a new credit card for BOFA and found this new credit card that just released yesterday. Not sure if this is a repost BTW.


-Earn $25 in cash rewards each calendar quarter when you pay more than the monthly minimum and pay each bill on time – up to $100 in cash rewards each year
-Get an extra $5 bonus per quarter if you have at least one other qualifying account with us for an additional $20 in cash rewards per year – that's up to $120 in total cash rewards per year
-Rewards are automatically credited to your card balance or you can choose to deposit them into your savings or checking account
-No Annual Fee

0% APR for 12 months

https://www.bankofamerica.com/cre...rewards.go

Edit:

So for the first quarter, we pay by April 30.
For second quarter, it would be end of July
For third, it would end of October and it is end of January for the last quarter.
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Community Wiki

Last Edited by ScreaminChicken July 31, 2016 at 09:12 AM
Detailed information on the rewards program (PDF): https://www.managerewardsonline.f...nce_PR.pdf
Official T&C: https://www.bankofamerica.com/cre...1999&po=VW

Q: What is the basic features for this card (product)?
A: 0% APR on purchase for NEW customers (credit pull inevitable); No annual fee; $25 quarterly bonus when you make qualifying payments every month; $5 extra quarterly bonus if you also have certain BoA financial product(s), for example, saving and/or checking accounts (other credit cards do not qualify though).

Q: How to be eligible for the $25 quarterly bonus?
A: Quote from the official T&C: "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." The simple version: have a positive balance on your every statement in a quarter and pay at least minimum amount due before due day instructed on that same statement.

Q: How to be eligible for the extra $5 quarterly bonus?
A: Quote from the official T&C: "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."

Q: How much statement balance should I have to be eligible for the bonus?
A: Any statement balance that is positive (≥ $0.01).

Q: How much should I pay after each statement and before due date for that statement to be eligible for the bonus?
A: Any amount > "minimum payment due". The minimum payment due = (1) $15 when the statement balance ≥ $15; (2) full balance due when the statement balance < $15.

Q: I am a current BOA credit card customer, can I convert my credit card to Better Balance Rewards card? If so, how to? Any credit pull?
A: Yes (most likely, especially for Cash Rewards Card members). You can call in or live chat to convert the product/account type. No credit pull to convert a current BOA credit card to Better Balance Rewards card.

Q: What's gonna happen after I convert my current BoA credit card to this Better Balance Rewards card?
A: You'll be issued a new card with a different number, delivered to you in 2-4 weeks. Your current card is active along with all the benefits, until your new card is activated.

Q: I currently have the 1-2-3 Cash Rewards Card, what will happen to my rewards when I convert this card to Better Balance Rewards card?
A: Your bonus dollars/points will forfeit on the date your new card is activated. Redeem the bonus points/dollars as soon as possible, as least before you activate your new card. --> my bonus points were forfeited (around $30) before I activated my card (I still haven't received the card yet). I am definitely contesting it. I had saved the chat history where rep had confirmed that the rewards will not be forfeited before activation.

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1,429 Comments

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#706
Quote from crazee_an View Post :
hmmm.. very interesting.. almost seems like both these balances should have counted for second quarter instead.. you did not have any balances on your statements before this one, right?
Correct. I probably didn't meet the min spending and thus no $30. I guess we'll find out for sure next quarter when more people get their $25/$30.
Reply Helpful Comment? 0 0
#707
Quote from ricohitman View Post :
Charge $1 dollar every card cycle, pay on time, profit?
Sure there is no minimum?
Reply Helpful Comment? 0 0
#708
Quote from matrix5k View Post :
I converted my card a over a month ago and still haven't received my new one. It shows online that the card was converted. They told me I should get it within 5-10 business days. Does it take this long for anyone else?
I just got it yesterday and I applied for it the day this deal was posted. Surely, this was the longest time for any credit card I applied so be patient.
Reply Helpful Comment? 0 0
#709
Quote from song View Post :
Those bastards said they would hardpull and weren't helpful at all.
my credit reports are frozen and I successfully converted the card (hawaiian air) without any hardpulls
Reply Helpful Comment? 0 0
#710
Whats the approx timeframe in working days for converted cards?

- Email notification for case closure?
- Online visibility of the new card
- Getting it physically
Reply Helpful Comment? 0 0
#711
I got my card I was worried cuz when I activated it said world points (that was my old card since I asked for conversion) but the specialist said it was the better balance rewards. Also I don't have Mastercard it stayed Visa anyone else in the same boat?
Reply Helpful Comment? 0 0
#712
Is ebanking eligible for the extra $5 quarterly bonus?
Reply Helpful Comment? 0 0

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#713
Quote from gpister View Post :
I got my card I was worried cuz when I activated it said world points (that was my old card since I asked for conversion) but the specialist said it was the better balance rewards. Also I don't have Mastercard it stayed Visa anyone else in the same boat?
First conversion I got a Visa card. I had mentioned that I wanted MC. Requested for conversion one more time to MC and it has been done.
Reply Helpful Comment? 0 0
#714
Was anybody able to retain their Visa Signature while converting to this one?

Had a very bad experience:
1. called up for conversion - was promised will retain credit history and signature
2. got platinum instead after 4 weeks. Called up again - They apologized and promised to send a new one with signature
3. got a letter after 3 weeks saying signature is not offered with this program. called up again - Was offered to either go back to old signature card without better balance program or keep better balance platinum

I chose to keep the better balance platinum. Filed a complaint against all agents who misled me.
Reply Helpful Comment? 0 0
Last edited by rajivgandhi April 13, 2013 at 11:43 AM.
Joined Feb 2006
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#715
Quote from rajivgandhi View Post :
Was anybody able to retain their Visa Signature while converting to this one?

Had a very bad experience:
1. called up for conversion - was promised will retain credit history and signature
2. got platinum instead after 4 weeks. Called up again - They apologized and promised to send a new one with signature
3. got a letter after 3 weeks saying signature is not offered with this program. called up again - Was offered to either go back to old signature card without better balance program or keep better balance platinum

I chose to keep the better balance platinum. Filed a complaint against all agents who misled me.
Cry baby. We aren't allowed to make mistakes at jobs now?
Reply Helpful Comment? 0 0
#716
Between my wife and I, we converted 3 cards and took about a month to get the cards in. Surprisingly one of the card had $25 credit posted shortly after the account was converted, but not the other two. All three cards were used to pay utilities monthly in the similar way. How does BofA determine one should get $25 credit right away or not?
Reply Helpful Comment? 0 0
#717
Quote from bullorbear View Post :
First conversion I got a Visa card. I had mentioned that I wanted MC. Requested for conversion one more time to MC and it has been done.
I don't mind MC or Visa as long as I get the reward since my first card was Visa it stayed Visa I just want to get the rewards (thats why I was concerned when I activated my card it said points and I called and they said it was the better balance rewards).
Reply Helpful Comment? 0 0
#718
Quote from rajivgandhi View Post :
Was anybody able to retain their Visa Signature while converting to this one?

Had a very bad experience:
1. called up for conversion - was promised will retain credit history and signature
2. got platinum instead after 4 weeks. Called up again - They apologized and promised to send a new one with signature
3. got a letter after 3 weeks saying signature is not offered with this program. called up again - Was offered to either go back to old signature card without better balance program or keep better balance platinum

I chose to keep the better balance platinum. Filed a complaint against all agents who misled me.
I'm on step 2.5 here. also requested and was promised platinum->signature. if its not available I'll just keep platinum then.
Reply Helpful Comment? 0 0
#719
Quote from Microtubule View Post :
Cry baby. We aren't allowed to make mistakes at jobs now?
no. not the ones that cost.
Reply Helpful Comment? 0 0
#720
Quote from gx365 View Post :
Is ebanking eligible for the extra $5 quarterly bonus?
I have an ebanking and received $30 this month after the conversion. Then again, I also have a linked savings account as well...
Reply Helpful Comment? 0 0
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