BankAmericard Cash Rewards Visa – $400 Bonus, 0% for 15 Months?
For some lucky customers, Bank of America is offering an excellent deal on its BankAmericard Cash Rewards Visa Signature Card: a $400 cash back bonus after making at least $500 in purchases within 90 days of account opening, as well as an intro 0% APR for the first 15 months on purchases and any balance transfers made within 60 days of opening your account. Balance transfers, however, will incur a 4% fee (min $10).
This is a targeted offer, so YMMV
If you’re a current Bank of America customer, you can check if you were targeted for this offer by logging into your bankofamerica.com account online and logging out. There should be a splash screen advertising the $400 bonus if the offer is available to you.
If you were not specifically targeted, it is still possible to try to apply for the offer by phone. There is a huge amount of discussion in this thread on SD about it. Basically, you can call 1-800-932-2775 and tell them you would like to apply for the card using priority code VABJOM. The customer service representative will likely ask you where you saw the offer. If you read the SD thread, you’ll notice a lot of people’s creative responses to that question.
If you phone in to apply for this offer without having been targeted, you do run the risk of not getting the $400 bonus, so beware.
The cash rewards aren’t that rewarding
Aside from the generous sign up bonus for this particular offer, the card’s benefits themselves are rather lackluster. It earns a 3% rebate on gas, 2% on groceries and 1% on everything else. The 3% rebate on gas and 2% rebate on groceries are, however, limited to the first $1,500 of spending in those categories per quarter. If you spend more than $1,500 on those categories in a quarter, you’ll only earn 1%.
You can redeem your cash rewards as a statement credit, check, electronic deposit to a checking or savings account, mortgage payment or charitable contribution. If you choose to redeem your cash rewards into a Bank of America checking or savings account, you can earn a 10% bonus. For instance, $25 in cash rewards can be redeemed as a $27.50 deposit.
The card does not have an annual fee.