BofA new Credit Cards

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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BCF
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BofA new Credit Cards

Postby BCF » Mon May 14, 2012 10:26 pm

BofA introduced 2 new credit cards which look pretty interesting.

1. BankAmericard Travel Rewards™: Which gives you 1.5 point for every dollar and doesn't have annual fee
https://www.bankofamerica.com/credit-cards/products/bankamericard-travel-rewards-credit-card.go
2. BankAmericard Privileges® with Travel Rewards: Which gives you 2 points for every dollar and have $75 annual fee (first year is free). But it will be waived if you have more than $50k in your BofA accounts.
https://www.bankofamerica.com/credit-cards/products/bankamericard-privileges-travel-credit-card.go

I am thinking about converting one of my BofA CCs to Privileges, and would like to hear your ideas about these two cards.

P.S. The privileges is different from the older version that gives 1.5%.
AMEX Blue Cash Preferred 5k
BofA Cash Rewards Visa 5k
BofA World Points MasterCard 4.4k
Kohls Store Card 300


Endoas
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Postby Endoas » Mon May 14, 2012 11:15 pm

I'm also interested in converting from my Cash Rewards to the Travel Rewards. The no annual fee + 1.5x on all purchases + no foreign transaction fees makes this card very tempting. However, I'm skeptical that BofA will allow a switch from a cash back to a points card.

What BofA CCs do you currently have? If you plan to convert a BofA cash rewards card then please let us know how it goes :)

BCF
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Postby BCF » Tue May 15, 2012 12:22 am

I have both cash back and point cards, but I guess you would be able to convert the cash back card to points card too. However you will lose the unredeemed cash back on your account, so if you decide to convert try to redeem as much as possible.
AMEX Blue Cash Preferred 5k
BofA Cash Rewards Visa 5k
BofA World Points MasterCard 4.4k
Kohls Store Card 300

American
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Postby American » Tue May 15, 2012 10:48 am

Privileges looks really appealing. It'd be good to have 2% cash back on the visa network.
American Express '02: Platinum, Blue Cash Preferred 6k, SPG 2k, Delta Gold 1k
Barclaycard '11: Apple Financing Card 2.5k
Citi: Diamond Rewards 1.5k
Chase: Freedom 500
Discover '12: Discover IT 1.5k

FutureBillionaire
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Postby FutureBillionaire » Tue May 15, 2012 3:42 pm

I have the penfed points card that. I think that will be my sole points card. The privileges card would be good to me if it didn't have the annual fee.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

American
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Postby American » Tue May 15, 2012 6:13 pm

The more I think about it. It's just another venture/escape rip off with a $15 extra per month fee.. The only advantage would be if you so happen to have a BoA checking/savings account, and you receive 10% more per year in rewards.
American Express '02: Platinum, Blue Cash Preferred 6k, SPG 2k, Delta Gold 1k
Barclaycard '11: Apple Financing Card 2.5k
Citi: Diamond Rewards 1.5k
Chase: Freedom 500
Discover '12: Discover IT 1.5k

BCF
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Postby BCF » Tue May 15, 2012 6:53 pm

American wrote:The more I think about it. It's just another venture/escape rip off with a $15 extra per month fee.. The only advantage would be if you so happen to have a BoA checking/savings account, and you receive 10% more per year in rewards.


It is not just the rewards, it is a semi-prime card. At least it is what they think!
AMEX Blue Cash Preferred 5k
BofA Cash Rewards Visa 5k
BofA World Points MasterCard 4.4k
Kohls Store Card 300

DavidNY
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Postby DavidNY » Tue May 15, 2012 9:32 pm

Privileges looks good if you want to lock up $50k with BofA. I'm very happy with the Fidelity Amex (issued by FIA Card Services, a BofA subsidiary) with 2% flat rewards.

The only catch is that a Fidelity account is required to get the 2% cash back. I opened up a Cash Management Account in five minutes. I can use the attached debit card (ATM fees reimbursed), or just move the money into my checking account.

2percentPlus
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Postby 2percentPlus » Tue May 15, 2012 11:35 pm

DavidNY wrote:Privileges looks good if you want to lock up $50k with BofA. I'm very happy with the Fidelity Amex (issued by FIA Card Services, a BofA subsidiary) with 2% flat rewards.

The only catch is that a Fidelity account is required to get the 2% cash back. I opened up a Cash Management Account in five minutes. I can use the attached debit card (ATM fees reimbursed), or just move the money into my checking account.


+1

Exactly what I do. My Fidelity account grows every month and I leave it alone, but could get cash at any minute with the ATM card. I think I will end up using the Fidelity account for traveling instead of carrying my actual checking account debit card that has higher balances.

With the privileges you get a total of 2.2 points with BofA checking. My question is how does this convert to cash? If it's 1 point = $.01 then that's the best flat cash back I've seen. Too bad it's Visa signature!

American
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Postby American » Wed May 16, 2012 6:22 am

2percentPlus wrote:+1

Exactly what I do. My Fidelity account grows every month and I leave it alone, but could get cash at any minute with the ATM card. I think I will end up using the Fidelity account for traveling instead of carrying my actual checking account debit card that has higher balances.

With the privileges you get a total of 2.2 points with BofA checking. My question is how does this convert to cash? If it's 1 point = $.01 then that's the best flat cash back I've seen. Too bad it's Visa signature!


It actually doesn't. It seems only to have the restriction of redeeming .01 per point only on travel expenses.
American Express '02: Platinum, Blue Cash Preferred 6k, SPG 2k, Delta Gold 1k
Barclaycard '11: Apple Financing Card 2.5k
Citi: Diamond Rewards 1.5k
Chase: Freedom 500
Discover '12: Discover IT 1.5k



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