BankAmericard Better Balance Rewards Credit Card

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Tubpbs
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Re: BankAmericard Better Balance Rewards Credit Card

Postby Tubpbs » Sun Jun 12, 2016 9:43 am

Because then he will get no additional rewards on any additional spending. Whether he spends $10 or $10,000 a month on the BBR, get gets the same thing (not sure what BoA was thinking here / what anyone that spends real money on the card is thinking - or how it has lasted so long). I guess for BoA, anyone that's spends more than $12K a year, they are better off giving this product than even 1% cash back and the opposite for a cardholder.

Either way, he has no benefit to spending any more money on this card and thus, DC is the next best option (at least for the OP and his current plan).
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It


Kevin86475391
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Re: BankAmericard Better Balance Rewards Credit Card

Postby Kevin86475391 » Mon Jun 13, 2016 10:13 pm

To My Credit wrote:
kdm31091 wrote:But if the BBR is going to make you more, why even worry about getting the Double Cash?
The Double Cash will be my "everything else" card, and it can still save me around $50 per year. And I also like the idea of having automated Price Rewind benefits. The great thing about the BBR is that it has its own corner. It's not eating away at the rewards of another card because it's not a % cashback card like everything else. There is no other card like it, so it's not an either-or card.


Excellent points! Seems like a really great strategy!

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Vattené
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Re: BankAmericard Better Balance Rewards Credit Card

Postby Vattené » Thu Jun 16, 2016 3:07 pm

I just got around to looking at BofA checking and savings accounts. I don't see any that would be a reasonable option for someone that isn't already a customer and wants to use with a BBR card. They all have either hoops to jump through or ridiculous fees. I think I may be better off just passing on BBR.
-Vattené
FICO-8:
EX - 805 (2/17) | TU - 787 (2/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

To My Credit
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Re: BankAmericard Better Balance Rewards Credit Card

Postby To My Credit » Thu Jun 16, 2016 3:30 pm

Vattené wrote:I just got around to looking at BofA checking and savings accounts. I don't see any that would be a reasonable option for someone that isn't already a customer and wants to use with a BBR card. They all have either hoops to jump through or ridiculous fees. I think I may be better off just passing on BBR.

I think you can get a Checking & Savings Account with BoA for a minimum deposit of $300 in the Savings account. Whether or not that's a reasonable option is for you to decide, but I think that's the best option BoA offers.

There is, of course, another option where an amount of $25 is automatically transferred from the Checking account to the Savings account. So, technically, all you'd need is $25, but this needs a more hands-on approach, because you'll need to make sure you have at least $25 in the Checking account every time there is a transfer, either by moving that amount from the Savings account or otherwise.
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

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Vattené
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Re: BankAmericard Better Balance Rewards Credit Card

Postby Vattené » Thu Jun 16, 2016 5:25 pm

The lowest monthly fee is $12 (though most are $25); that just defeats the entire purpose. I suppose I could just open a savings account with $300. Even though their savings accounts earn basically nothing, it's not like 300 bucks is going to earn much anywhere else.

Idk...I'll think about it. Maybe I'll bite the bullet. Your're right it's not that hard to avoid the monthly fees, and I understand why they want to make people jump through hoops like that, but I just hate seeing conditions like that on the principle of paying a bank so they can use your money . A lot of banks have them, but you can also find banks with actually free accounts, which is how I feel it should be.
-Vattené
FICO-8:
EX - 805 (2/17) | TU - 787 (2/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

To My Credit
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Re: BankAmericard Better Balance Rewards Credit Card

Postby To My Credit » Thu Jun 16, 2016 5:32 pm

Vattené wrote:The lowest monthly fee is $12 (though most are $25); that just defeats the entire purpose. I suppose I could just open a savings account with $300. Even though their savings accounts earn basically nothing, it's not like 300 bucks is going to earn much anywhere else.

Idk...I'll think about it. Maybe I'll bite the bullet. Your're right it's not that hard to avoid the monthly fees, and I understand why they want to make people jump through hoops like that, but I just hate seeing conditions like that on the principle of paying a bank so they can use your money . A lot of banks have them, but you can also find banks with actually free accounts, which is how I feel it should be.

You've got to do what's right for you. It is definitely work. It wasn't for me because I already had a BoA account. I may not have gotten any BoA card (Cash Rewards or Better Balance Rewards) if I didn't.
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

kdm31091
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Re: BankAmericard Better Balance Rewards Credit Card

Postby kdm31091 » Fri Jun 17, 2016 10:59 am

Vattené wrote:The lowest monthly fee is $12 (though most are $25); that just defeats the entire purpose. I suppose I could just open a savings account with $300. Even though their savings accounts earn basically nothing, it's not like 300 bucks is going to earn much anywhere else.

Idk...I'll think about it. Maybe I'll bite the bullet. Your're right it's not that hard to avoid the monthly fees, and I understand why they want to make people jump through hoops like that, but I just hate seeing conditions like that on the principle of paying a bank so they can use your money . A lot of banks have them, but you can also find banks with actually free accounts, which is how I feel it should be.


I don't know if the BBR card is special enough to warrant opening a new account with BOA. To me, it's worth it for people who use BOA anyway, but is a harder sell for people who have no relationship with BOA.

Kevin86475391
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Re: BankAmericard Better Balance Rewards Credit Card

Postby Kevin86475391 » Fri Jun 17, 2016 4:07 pm

Vattené wrote:The lowest monthly fee is $12 (though most are $25); that just defeats the entire purpose. I suppose I could just open a savings account with $300. Even though their savings accounts earn basically nothing, it's not like 300 bucks is going to earn much anywhere else.

Idk...I'll think about it. Maybe I'll bite the bullet. Your're right it's not that hard to avoid the monthly fees, and I understand why they want to make people jump through hoops like that, but I just hate seeing conditions like that on the principle of paying a bank so they can use your money . A lot of banks have them, but you can also find banks with actually free accounts, which is how I feel it should be.


Very well said. I completely agree. I think that's actually a major reason why the BBR card never seemed that appealing to me. I too don't want to jump through the extra hoops to avoid the monthly fees on a new deposit account I won't use. I already have checking and savings accounts with Chase and Discover that are truly free - though I think Chase's checking wouldn't be if I didn't do direct deposit into it. I just don't have a desire to add BofA deposit accounts to the mix too.

I agree the BBR would be quite a bit more appealing if I already used BofA for deposit accounts.

To My Credit
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Re: BankAmericard Better Balance Rewards Credit Card

Postby To My Credit » Sat Jun 18, 2016 8:16 pm

I just received my card and my next closing date is on the 8th of July. I'm wondering if I'll be eligible for the bonus for the second quarter of the year once I put some expense on it. Does anybody who has the card have a clue?

ETA: Just called Customer Service and they say I'm not eligible for the 2nd quarter bonus. I'm still going to put some expense on it, of course.
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

swipe_masta
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Re: BankAmericard Better Balance Rewards Credit Card

Postby swipe_masta » Sat Jun 18, 2016 10:20 pm

My experience so far has been great. It's free money for essentially doing nothing. BofA student card was my very first card I ever had and so I naturally PCed it rather than canceling it. I don't bank with BofA except for a regular savings acct I put $300 in to get the extra $5/Q. I always know on the 10th of every month to go to Panera to get breakfast with this card just for the monthly spend. Funny story, I used to get just a bagel and schmear which totaled like 3 bucks and BofA kept grace paying it off and I realized I wasn't meeting my spend haha.

I know some of you can't wait to get the rewards money, but I'm the kinda person who sits on rewards and saves up a bit for something I really want. I usually pretend to forget about that savings acct and not worry about it, but I've collected 360 so far just for doing something I usually do! I recommend this card if you want a rewards card that will grow over time instead of rewards for purchases. I would never use this card as an everyday or misc. use card.



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