I actually did not intend to apply for this card and far by everything available in the market, this card is no game changer for anyone.
However, it made some difference for me and my wife.
I have a BOA card that has been idle for the last 8 yrs and since its being my 1st card, I just kept it open. ( I do have the BOA 1-2-3 card which I use occasionally) .Just gave a quick call and asked the customer service if they can convert my old Junkie "World Points" card to this "Better Balance Rewards" and it worked like a charm.
The catch for this rewards to work every month is this.
Make purchases of $25-$30 min every month and you should have a balance by end of the statement period. All you need to do is to make a payment which is more than the min payment due.
I talked to the BOA agent and I was told $15 would be the min + 1% of the remaining balance as a min due if you use the card more than $25.
I plan to bill both my Netflix and Hulu every month and some other minor charge to have a balance of $25 in total.
My annual cash back for a spending of $400 is $120 which is 30% and this would be repeating every year (Until BOA kills it)
I plan to do the same with my wife's card.
The churning amount is small but I felt I am giving some power to my useless cards over long time.https://www.bankofamerica.com/credit-cards/products/better-balance-rewards.go
Better Balance Rewards Card Benefits
- 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†[/B][/B][/size][/B][/B]