Thread: BankAmericard Cash Rewards vs Privileges

Hello,

Im trying to get the best deal on cash back points and im torn between 2 BankAmericard offers.

1. Cash rewards card: If you redeem $300 or more in one redemption request, you will receive a 25% bonus based on the amount you redeemed. By doing this, you will earn a 25% bonus on your cashback rewards (example: your $300 redemption would turn into $375).

2. Privileges card: Earning 50% more points (1.5 points) on everything.

Both of these are permanent offers and not temporary.

What i currently have is just a WorldPoints Visa with cash back. I like to wait till i have 50k points so i can get a $500 check. And i spend about $2500 a month on my credit card always paying in full. So i usually get a couple checks a year.

Which offer do you think would be better for my situation on maxing my cash back?

I have the Cash Rewards card but what is this Privileges card you refer to? A new card from BofA?

Originally Posted by ESL

I have the Cash Rewards card but what is this Privileges card you refer to? A new card from BofA?

Not sure how new it is but its for people with a high credit score and at least 50k liquid in the bank.. if u dont have 50k liquid assets in your overall Bank Of America accounts they charge $75 a year for the Privileges card.

so what do you guys think?

okay so no answers.. im going to go with the privileges card.

Originally Posted by DirtAddsHP

okay so no answers.. im going to go with the privileges card.

i would go with the Privileges if those are your only two options and you have 50k in the bank.

if you just want one card with the best rewards, go with the Fidelity Amex for 2% or Fidelity Visa for 1.5%

if you don't mind having 3+ cards then i'd go with the AmEx Blue Cash Preferred (6% groceries), PenFed (5% gas) and Citi Forward (5% restaurants and entertainment). i believe the PenFed requires ~$20 one-time membership fee and Blue Cash has $75 annual fee, but those pay for themselves pretty quickly.

Originally Posted by DarrellEW

i would go with the Privileges if those are your only two options and you have 50k in the bank.

if you just want one card with the best rewards, go with the Fidelity Amex for 2% or Fidelity Visa for 1.5%

if you don't mind having 3+ cards then i'd go with the AmEx Blue Cash Preferred (6% groceries), PenFed (5% gas) and Citi Forward (5% restaurants and entertainment). i believe the PenFed requires ~$20 one-time membership fee and Blue Cash has $75 annual fee, but those pay for themselves pretty quickly.

ah great info thank you! I have a BOA amex card right now but its only 1 point per dollar.. i think im going with that Fidelity Amex.