An interesting new card from Bank of America

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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C.K.
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An interesting new card from Bank of America

Postby C.K. » Thu Mar 14, 2013 10:59 am

So Bank of America has released a new Mastercard called the Better Balance Rewards card which is mostly aimed at people who carry a balance. However if you're not a big spender (or even if you always pay in full) I would recommend this card as well because you're basically getting $25 every quarter for every month you pay at least the minimum payment on time. For some people (like myself) who are not heavy spenders this card might be even better than the 1-2-3 cash rewards card because it always takes me more than 3 months to hit $25 in rewards so this card could be in my wallet in the near future.

More info: https://www.bankofamerica.com/credit-cards/products/better-balance-rewards.go
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BankAmericard Better Balance Rewards Platinum Plus Visa: $2,000 CL

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DavidNY
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Postby DavidNY » Thu Mar 14, 2013 11:05 am

The best way to use this card would be to charge $15.01/month and pay in full, over the $15 minimum.

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TheLethargicAge
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Postby TheLethargicAge » Thu Mar 14, 2013 11:48 am

Ha, I knew there had to be a minimum spending limit. Good thing it's only $15.01. I wonder how long it will take before they raise it.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

DavidNY
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Postby DavidNY » Thu Mar 14, 2013 12:35 pm

There's a thread here suggesting that there is no minimum needed, so one could charge one cent, pay it and qualify.

C.K.
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Postby C.K. » Thu Mar 14, 2013 12:53 pm

DavidNY wrote:There's a thread here suggesting that there is no minimum needed, so one could charge one cent, pay it and qualify.


That's what I was thinking. There's nothing in the terms and conditions that say there's a minimum spending requirement. You figure if you're getting $100 a year, charge less than $8.33 per month and pay it off every month and you're making a profit. If you're getting the extra $5 per month for $120 a year, charge less than $10 per month and you're still making a profit. Would B of A close the account if they catch on, I don't know but I think it's worth doing an experiment and see what happens.

I could switch right now but I have $10.71 in my 1-2-3 cash rewards I don't want to lose. Since the rewards on this card is based on the calendar year, I could try to hit $25 reward on my current card and switch to this card by the end of June and start using it July to see what happens. Hopefully B of A doesn't change any rules by then.
Discover IT: $2,500 CL
BankAmericard Better Balance Rewards Platinum Plus Visa: $2,000 CL

758 FICO Score from TransUnion at no charge thanks to Discover!

TheLethargicAge
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Postby TheLethargicAge » Mon Mar 18, 2013 4:38 pm

This card is no longer on BofA's site.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

DavidNY
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Postby DavidNY » Mon Mar 18, 2013 5:06 pm

TheLethargicAge wrote:This card is no longer on BofA's site.


It's there.

https://www.bankofamerica.com/credit-cards/products/better-balance-rewards.go

There's no monthly minimum, charging a penny a month is fine so long as it's PIF.

TheLethargicAge
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Postby TheLethargicAge » Mon Mar 18, 2013 6:24 pm

I don't see it there. I got this message when I clicked on your link:

We're sorry, but this offer is not currently available online. To apply, please call us at 1.800.932.2775, or close this window to view our full list of cards.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

DavidNY
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Postby DavidNY » Mon Mar 18, 2013 7:36 pm

TheLethargicAge wrote:I don't see it there. I got this message when I clicked on your link:


I got that too. It looks like the site is mirrored and I had an earlier version.

It's still listed under "Credit Card Home", which links to
https://www.bankofamerica.com/credit-cards/products/better-balance-rewards.go?cid=2091998&po=52

The app is located at
https://consumer.bankofamerica.com/USCCapp/Ctl/entry?cid=2091998

ivotedale
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Postby ivotedale » Tue Mar 19, 2013 2:00 am

I'm heavily interested in this deal like many of you guys are; I still feel there has to be a catch or similar, just seems too easy.

What about redeeming the cash/pts? Would there be a minimum amount? Or is it just a simple $25 check/statement credit written out to you?

Interesting point is made that terms and conditions can change really at any time. Although there would'nt be a point to this card if they took that feature away.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF



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