Bank of America® Customized Cash Rewards credit card Reviews
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Title: One Of My Favorites
Date Reviewed: 2016-09-29 15:13:16 | Recommended?: Yes
Review: I've had this card since September 2014. It is one of my favorites. You earn 3% cash back at gas stations, 2% at grocery stores and 1% everywhere else. The redemption rate for cash back starts at $25 but you can set it up to auto-redeem every time you've earned at least $25. I use it mostly for gas and small purchases and earn about $10-15 dollars per month, so every other month I earn about $25-35 dollars back. Another cool feature is that if you redeem your cash back into a Bank of America checking or savings account, you earn an additional 10% on top of your earnings, so $25 becomes $28, and so on. I started with a $1,500 credit limit and about a year after having the card I was asked to confirm my annual income and automatically received a CLI to $3,000.
One bad thing is that Bank of America doesn't allow you to set up external bank accounts to pay your credit card bill with, so basically you have to either pay using a BofA account or use your external account's bill pay. I don't mind it so much since I have a checking account with them, but I do pay my regular bill using another bank's bill pay. Oh, here's a little tip, you don't earn the 10% cash back if you redeem your cash back to make a payment to the credit card, but if you have a checking account with them just redeem to the checking account and then make a payment to the credit card. Customer service has been great, but really, I've had no issues with this card.
Title: Pre-approved By Mail.
Date Reviewed: 2013-12-02 16:26:46 | Recommended?: Yes
Review: Got a pre-approved mailer for it so I figured I'd might as well take a chance. Was just approved for Discover IT so I was feeling brave at the moment, I guess.
Anyway, I was instantly approved online for $2500....0% APR for 15 months and 14.99% after.
My EX file contains 3 PR's, an old charge off due to drop any day now, a paid collection account, and an old unpaid collection that I'm fighting. I also burned Fleet/BoA in 2002 so I guess they don't blacklist either.
2nd Prime card in one weekend...so excited. I think I'm done for now!
Title: Approved!
Date Reviewed: 2013-08-12 15:09:31 | Recommended?: Yes
Review: I got a pre-approval for this card a few months ago but never decided on it. Today, I decided to pull the trigger and apply online.
I got an instant approval online today for a CL of $6k and they said that my card will arrive in 1 week. The only thing I am unsure of is the interest rate as it was not stated on my approval. My EQ score is 750.
Some of the perks with this card include: 1% cash back on purchases everywhere, every time, 2% on groceries and 3% on gas for the first $1,500 in combined gas and grocery purchases each quarter. No annual fee. $100 cash rewards bonus if you make at least $500 in purchases in the first 90 days. Bank of America customers also get a 10% customer bonus if you redeem your rewards directly to your BofA account(s).
Title: Beware Of Bank Of America
Date Reviewed: 2013-06-03 17:27:09 | Recommended?: No
Review: I used to be a huge fan of BofA credit cards. I actually have 2 of their signature Visa cash rewards cards. I was given a generous line of credit as I have a high credit score and a fairly high salary. I fell for their trap with a balance transfer offer of 1.9% APR. So I transferred about $6000 using this offer. Then, with no warning whatsoever, my line of credit went from $19,000 to $450 under my current balance. In other words, I was now, with no warning or fault of mine, over my line of credit! In talking with an account rep, she admitted I was a customer for a long time and that I had an impeccable history with BofA but the transfer triggered an automatic audit and the computer dropped my CL. Now, not only has my utilization % gone up, this card is now to be reported as "maxed out."
Very, very slimy. I will keep the cards open, but in the sock drawer they go. Horrible experience. I used to speak highly of this card too.
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