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+--- Thread: Bank of America credit card, basically negative annual fee ($100 bonus per year) (/showthread.php?tid=177736)
Bank of America credit card, basically negative annual fee ($100 bonus per year) - space-time - 03-25-2015
I checked the terms and conditions, and it seem that if you pay your balance each month, in full, you get $25 per quarter. So I can set up my comcast bill to use this card, and set up automatic payments, and I get $100 per year with virtually no effort on my side.
here is the screen shot, it's the 3rd offer
Re: Bank of America credit card, basically negative annual fee ($100 bonus per year) - Acer - 03-25-2015
So...at the lowest level "normal" cashback of 1%, it's the equivalent of putting $10,000 on the card per year. Is there a minimum you must charge to the card to qualify for the full $25?
Re: Bank of America credit card, basically negative annual fee ($100 bonus per year) - N-OS X-tasy! - 03-25-2015
A relatively high amount of effort to earn a maximum of approximately 27 cents a day.
Re: Bank of America credit card, basically negative annual fee ($100 bonus per year) - space-time - 03-25-2015
I didn't see a minimum (I admit that I skimmed the rules, I was posting in a hurry).
here is the main page
https://www.managerewardsonline.fiacardservices.com/RMSapp/Ctl/entry?pid=dcbrwd&mc=BALRWDS
rules PDF
https://www.managerewardsonline.fiacardservices.com/cms/published/root/dcb/PDF/BBEng044488Nov2014.pdf
Re: Bank of America credit card, basically negative annual fee ($100 bonus per year) - space-time - 03-25-2015
Actually because I do have some account with BoA (checking, savings), I should also get the $5 bonus, so it will be $120 per year.
Re: Bank of America credit card, basically negative annual fee ($100 bonus per year) - Acer - 03-25-2015
The closest rule I could find related to my question was this:
"You must have a payment due in each of the monthly cycles of the calendar quarter to be eligible for the Quarterly Cash Reward; a zero balance or a credit balance does not qualify."
So, they are basically social-engineering you to make the card your regular card. If you leave it in the sock drawer for a month during the quarter, you'll lose the $25.
Of course, it's also functionally a capped reward, too, if you would normally put more than $10,000 (or less, if you also use the 2% or 3% categories a lot.)
Still, with no minimum, as long as you use it for something regular, like cable as you say, so you don't miss a $25 payout it's a pretty good deal. It's a guaranteed reward not dependent on the amount of spending.
Re: Bank of America credit card, basically negative annual fee ($100 bonus per year) - space-time - 03-25-2015
yeah, the way I see it is "set it and forget it:, say I put my Comcast Bill ($75) and I charge $900 per year for a reward of $120, that is 13% rewards. Beats any other reward that I know off, except the OWC Visa Card which has 50X more rewards that ordinary cards (but I am still not sure how that works).
Re: Bank of America credit card, basically negative annual fee ($100 bonus per year) - davester - 03-25-2015
There are far better rewards cards out there. This just doesn't seem worth the trouble.
Re: Bank of America credit card, basically negative annual fee ($100 bonus per year) - Frank - 03-26-2015
space-time wrote:Seems like a great deal for use as you describe. The only downside is that its Bank of America (Yuk).
yeah, the way I see it is "set it and forget it:, say I put my Comcast Bill ($75) and I charge $900 per year for a reward of $120, that is 13% rewards. Beats any other reward that I know off, except the OWC Visa Card which has 50X more rewards that ordinary cards (but I am still not sure how that works).