Bank of America is offering a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening with their Bank of America® Customized Cash Reward credit card. No Annual fee.
Card Details:
New offer! Earn 6% cash back for the first year in the category of your choice: gas and EV charging stations; online shopping, including cable, internet, phone plans and streaming; dining; travel; drug stores and pharmacies; or home improvement and furnishings. You'll automatically earn 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. After the first year from account opening, you'll earn 3% cash back on purchases in your choice category.
Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
With the Bank of America Preferred Rewards® program, members can earn 25%-75% more cash back on every purchase. That means the 3% choice category could go up to 3.75%-5.25%. The Preferred Rewards bonus is not applied to the 3% first-year bonus.
No annual fee and cash rewards don't expire as long as your account remains open.
0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that's currently 18.24% - 28.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%. Balance transfers may not be used to pay any account provided by Bank of America.
Contactless Cards - The security of a chip card, with the convenience of a tap.
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Slickdeals may be compensated by Bank of America.
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259 Comments
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Credit card rewards where you have to spend to earn it are not considered income.
bofa is a crap company
i'd go with wells fargo before bofa
I'm not doing much with my credit anyway, just regular cash back on all purchases and the introduction bonuses when I can get them🤷 ♂️
so then you can leave cash in a 5% savings account and keep getting 2% - 5% rewards for using cards
Earn 3% cash back in the category of your choice - now with expanded categories, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
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So either $75 cash back with no BoA status, or $131,25 (5.25%) with plat or better status on that $2500 spend.
bofa is a crap company
i'd go with wells fargo before bofa
Why? For anyone who can afford Plat status with BoA the rewards structure is vastly better.
Plus they don't have a long history of creating fake accounts for their customers like WF does.
So either $75 cash back with no BoA status, or $131,25 (5.25%) with plat or better status on that $2500 spend.
Why? For anyone who can afford Plat status with BoA the rewards structure is vastly better.
Plus they don't have a long history of creating fake accounts for their customers like WF does.[/QUOTE]
So, after spending 2500 (per quarter) in my choice category in addition to groceries and wholesale club, this essentially just becomes a 1% cashback card?
Yeah- same as the freedom or discoverIT cards become 1% cards after their $1500 quarterly caps or USB Cash Plus does after $2000 quarterly spend-- this is pretty typical of the highest category-specific bonus cards.
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I can let that money sit in Bank of America to get "preferred awards status", which after three months gives me an additional 2.25% cashback on purchases in a single category (say online stores like amazon) which assumes I know what category a purchase will be applied to (I don't).
OR I can put that 100k in treasury bills that return 5% non-competitively over 13 weeks... who the hell would pick first option???
Edit: I have nothing against this card or this deal, but definitely don't go into this card for preferred rewards...
IRAs will also count, so you roll those 401ks and hit Diamond
Boa travel rewards. 1.5% on all purchases (2.62 after 70%).
Card is lackluster, but no foreign transaction fees
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Card is lackluster, but no foreign transaction fees