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.
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Poor purchase protection. Bought a tv from an online retailer and was charged the wrong amount. Made many attempts to contact the retailer but didn’t receive answers to my messages. After 9 days I sent an email to cancel the order. All of a sudden I get a confirmation number for shipping and half a dozen calls from the online retailer. By this point I was done and just wanted to cancel it but they said I would still be responsible for over $300 for shipping and insurance. I called BoA to dispute this charge and the guy i talked to [Jeremy] seemed to be doing a lot of things and having me hold and then comes back and says everything was all fine and done and he has put in the dispute for the difference in what they charged me. I said whoa. I don’t want to deal with this company and I want to dispute the whole charge. I haven’t received the tv, correspondence to my queries, nor a shipping confirmation [until after I canceled]. I explained that it wasn’t the price we agreed on and I no longer trusted the retailer so I just want to cancel the order. BoA follows the policies of the online retailers and according to the retailer’s policy the consumer would be responsible for shipping charges if the product was refused or returned. I obviously didn’t have a product to return and the online retailer sent me the shipping confirmation the day after I sent an email to them to cancel the order. According to BoA it doesn’t matter if I cancelled the order since I originally agreed to some of the charges. The BoA rep suggested the retailer doesn’t have to cancel my order, and chose instead to ignore it. BoA said they didn’t see a problem with that because I agreed to the original order, despite the original order being a much lower cost than what was charged to my card. I said I have all the documentation with the order confirmation and all the emails I sent. BoA said great, we can go ahead and dispute the difference in the charge, just return the tv if you no longer want it and they will just add the shipping charges per their policy for returned items. I asked him what protection does BoA provide to me against retailers that were fraudulently charging me the wrong amount. Jeremy paused and said, ‘well it’s in their policy that you will be charged for shipping so that’s what we have to do”. I replied, “so BoA thinks it is perfectly fine for a retailer to ignore a customer cancellation and still charge whatever they feel like. Jeremy’s meek response was, ‘that’s not what I’m saying’. So what are you saying? ‘That we have to go by the retailer’s policies so when you return the tv they will be able to charge you for the shipping. I asked, ‘do you see anything inherently wrong with this?’. He didn’t. I hung up and am planning to reach out to corporate to determine why their policies support the retailers and not the consumers from whom they are making their money in interest paid on purchases. I would NEVER recommend BoA. Their business model serves the interests of the retailers, not the consumers. RUN from this card as fast as you can!
please note b.a. divertise after spend $500.00 in ninty days, you will get #400.00 reward
bank America visa card