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Well, as if the Bank of America 2% card couldnt get any better, I happened to look over my fathers mail today and low and behold he got an invite code to Bank of Americas 1% Cash Back card with the 25% redemption bonus for redemptions over $300. NOW the real kicker is, the first year of spending gives you 5% PLUS the 25% redemption bonus. This is amazing. He has no interest in the card so I am going to use his invite code and hopefully get the card. Fine print seems to show no sign of any limits and such. Anyone else see one of these pop up?

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Thanks swintec
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Actually, the site is pretty good. It's rather easy to see what rewards rate you are getting, under the rewards tab (it... (more)

Glitch99 (May. 01, 2011 @ 7:23p) |

Well the layout of the BOA website, arrangement of links, font - everything could be more user friendly. (Come from a we... (more)

muskan123 (May. 03, 2011 @ 12:53a) |

Update from application comments a few up...

Though they did call the wife to inquire about her profession (RN's not list... (more)

MaddHatter (May. 03, 2011 @ 10:26a) |

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swintec said: Well, as if the Bank of America 2% card couldnt get any better, I happened to look over my fathers mail today and low and behold he got an invite code to Bank of Americas 1% Cash Back card with the 25% redemption bonus for redemptions over $300. NOW the real kicker is, the first year of spending gives you 5% PLUS the 25% redemption bonus. This is amazing. He has no interest in the card so I am going to use his invite code and hopefully get the card. Fine print seems to show no sign of any limits and such. Anyone else see one of these pop up?
Are the bonuses (besides the 1%) really based on the purchase anmount, or are they based on the bonus amount? It would be amazing if your father had 5% CashBack on all purchases for the first year with no restrictions.

glxpass said: swintec said: Well, as if the Bank of America 2% card couldnt get any better, I happened to look over my fathers mail today and low and behold he got an invite code to Bank of Americas 1% Cash Back card with the 25% redemption bonus for redemptions over $300. NOW the real kicker is, the first year of spending gives you 5% PLUS the 25% redemption bonus. This is amazing. He has no interest in the card so I am going to use his invite code and hopefully get the card. Fine print seems to show no sign of any limits and such. Anyone else see one of these pop up?
Are the bonuses (besides the 1%) really based on the purchase anmount, or are they based on the bonus amount? It would be amazing if your father had 5% CashBack on all purchases for the first year with no restrictions.


The front of the letter says: "....that allows you to earn 1% Cash Back from the very first dollar in purchases, with no caps and no tiers. Plus, you can earn 5X cash rewards-thats 5% Cash Back-on all purchases for the first twelve months"

It goes on to say: "When you redeem $300 or more in rewards, you'll receive a 25% bonus" I am assuming these two are separate from each other and the 25% bonus is applied at cash out time long after the 5% is credited.

"Allow up to 60 days for bonus rewards adjustments to appear on your credit card billing statement"...this is in reference to the extra 4%.

I just tried to apply, I did not get instant approval but it may be because I have an FIA card (ex-Schwab 2%) already. I am going to call now.

Wow. Thanks very much for the confirmation. All I can say is that I wish I were your father.

I called, but the credit department is closed until Monday. I really dont want to re-allocate credit lines from my Schwab card, but if that is what it takes to get in the door with this card, I may have too.

EDIT - Added poor quality image of offer letter.

Wow. The only ones I keep getting are 3x for gas, grocery and drug store for 1st 6 months.

is there a link to this or a qualifying code somewhere?

Chat InformationThank you for choosing Bank of America. An operator will be with you shortly.
Chat InformationYou are now chatting with Jonathan.
Jonathan: Hello! I specialize in new personal credit card applications. How may I help you today?
You: Looking for a Bank of America Cash Rewards card with the 5% Cash Back + 25% rewards on $300 redemption
Jonathan: Thanks for your interest in Bank of America! That offer is available on an invitation only basis. Did you receive an offer in the mail for it?
You: nope
Jonathan: Alright. We do have an American Express card that gives you 1.25% Cash Back on all of your purchases. Would you like to look into that card?
You: no thanks
Last text message receivedJonathan: Alright. Well, it was a pleasure assisting you, and I hope that you were delighted with my service. Thanks for choosing Bank of America, and have a great evening!

I got the exact same offer, but only 3% back in gas, grocery and drug store. It's worded almost the same as the OP's picture. I guess I wasn't special enough to get the 5% back.

Got approved today for the offer my father received. I will have to reallocate my credit line from my ex-Schwab card to this one for at least the next year. BofA claims the right to verify eligibility for any and all transactions for the 5%...I really hope they arent to strict about this. ; ) The CSR could not tell me though if the 5% was applied to my account but did say I would see for sure in the welcome kit I will receive in a few days.

Really seems like BofA is testing various reward tiers, probably seeing what they can handle?

By re-allocating your credit line, does that mean your ex-schwab card now has a $0 credit line, so you basically can't use the Schwab card anymore? Were you forced to do this?

What are they going to verify? According to the T&C aren't ALL transactions within the first year eligible for the 5% rate?

ZJamaican said: By re-allocating your credit line, does that mean your ex-schwab card now has a $0 credit line, so you basically can't use the Schwab card anymore? Were you forced to do this?

What are they going to verify? According to the T&C aren't ALL transactions within the first year eligible for the 5% rate?


No, when I said reallocating I meant take a substantial portion of my Schwab credit line and put it on my new 5% card. I think Visa Signture benefits have at least a $5,000 credit line minimum so I will more or less drop the Schwab to that level and put it all on my 5% card, for the first year 5%.

As for verifying, yes all purchases are 5% + 25% redeem bonus but I think they may mean when I start raping the card for all that it is worth, they MIGHT, or at least reserve the right to, verify each purchase somehow for abuse or whatever? Not real sure. Someone who has done this more in the past can say whether all cards have this in there terms for rewards.

Why would BofA offer 5% Cash Back when no other card in the country offers more than 2% across the board????? It doesn't make sense to me.

That's one great offer. I only got the 3% groceries/gas/pharmacy offer as well.

nice.

I got a 15 statement 0% offer, about to buy a hvac system, and instead of emptying savings for it, just going to use the offer. 12.5k credit line. Balance transfer sucks due to 4% uncapped fee.

sayhey said: Why would BofA offer 5% Cash Back when no other card in the country offers more than 2% across the board????? It doesn't make sense to me.

Maybe gauging spending trends, etc? All of there bank accounts now have fees attached to them maybe they will use part of those to subsidize these types of rewards going forward. The whole card itself is new within the past couple of months, and it appears they have several different sign up programs going now.

I just got a new unsolicited card in the mail from BoA, upgrading a vanilla CC to a cash rewards (1%) visa. The packet it came with has the same 25% bonus for accumulating >$300, but no reward percentage increase otherwise.

Some minor negative aspects to BofA:
* not compliant with email address standards
* no P2P service
* They charge $5 per statement copy, even if you need a bulk of past statements
* no remote deposit service

Pros:
* 0% commission on foreign ATMs if the foreign bank is a partner

Just received a similar offer from BOA:
1% Cash Back
5% rotating categories
25% bonus if redeem over $300.

Tempted to jump on this... anyone else get such an offer? I'm more interested in the 2% Cash Back. Anyone receive both offers? The offer states I have to accept by 12/12

vicester said: Some minor negative aspects to BofA:
* not compliant with email address standards
* no P2P service
* They charge $5 per statement copy, even if need a bulk of past statements
* no remote deposit service
One positive:
* 0% commission on foreign ATMs if the foreign bank is a partner
Who cares about being compliant with email address standards? This is a credit card; P2P, remote deposit and foreign ATM withdrawal don't matter (especially if you're paying cash advance fees). We're in 2010, do you really need hard copies of all your statements?

t60 said: We're in 2010, do you really need hard copies of all your statements?
Who said anything about hardcopies? In the year 2010, you must pay BofA $5 per statement copy, paper or not. I'm not joking. They actually charge for electronic versions of archived statements just the same.

And yes, they archive their statements, probably so they can offer you this archived statement retrieval service. Some banks will give you free access to electronic statements 5+ years back.

t60 said:
Who cares about being compliant with email address standards?

Anyone who enrolls in paperless statements, and uses subaddress aliasing to tag their e-mail.

Paperless statements are very convenient. If the bank doesn't have your email address, you can't enroll -- despite the fact that they never send the statement to your e-mail address anyway (only one bank in the world emails you your statement, and it's in Germany). BofA just sends a notice that a bill is ready. Yet BofA refuses to enroll addresses that use subaddress aliasing.

And if you workaround their email problem by using a spamgourmet account, what happens is their notice periodically bounces back to them, and they send you a paper statement whether you want it or not.

ufguy2006 said: Just received a similar offer from BOA:
1% Cash Back
5% rotating categories
25% bonus if redeem over $300.

Tempted to jump on this... anyone else get such an offer? I'm more interested in the 2% Cash Back. Anyone receive both offers? The offer states I have to accept by 12/12


Your offer is different than the OP's. His is 5% CB on any spending for the 1st year....not rotating categories like yours....

It sounds like a great card. Anyone know how we can get it if we have not received a targeted offer?

With so many variations on this Bank of America Cash Rewards card being offered it sounds like Bank of America is pilot testing through targeted offers what people respond to and depending on the results will determine whether they make changes to their card offerings. I mean Bank of America is known for test piloting before bringing and offer to market and it is extremely unusual to see so many variations on the same card (1% back with 3% back on gas, grocery, drugstores, for 1st 6 months; 2% back on all purchases; 5% back on all purchases for 1st year then 1% back; 5% back on rotating categories and 1% back on all other purchases.

If I was offered either 2% CashBack on all purchases or the 5% CashBack on all purchases for the 1st year I would take them and the 5% rotating categories with the 25% bonus for redemptions above $300 is not bad either but I would definitely take the 1st two if you are targeted.

Keep in mind though that Bank of America is known to eliminate and change card terms for these one off targeted promotions if they don't launch an official product nationally available so these sweet deals may only last 1 or 2 years but it is still worth it.

vicester said: Some minor negative aspects to BofA:
* not compliant with email address standards
* no P2P service
* They charge $5 per statement copy, even if you need a bulk of past statements
* no remote deposit service

Pros:
* 0% commission on foreign ATMs if the foreign bank is a partner

If I had received the same offer as OP, none of these factors would have made any difference in my accepting that offer. Most of them are for deposit accounts, not credit card accounts, but even if they were all pertinent, again, it would make no difference to me.

One must decide what's important in a given context. The above factors (if even applicable) are not important in a 5% card (even if it's only for a year), nor would they be important in a 2% card.

So has anyone else, aside from the OP, received this offer?

ZJamaican said: So has anyone else, aside from the OP, received this offer?Still checking my mail!

HoMeZ said: I got the exact same offer, but only 3% back in gas, grocery and drug store. It's worded almost the same as the OP's picture. I guess I wasn't special enough to get the 5% back3% is pretty darn good ! Do you get a 0% APR for 15 months too, with 12.99% afterwards?

ufguy2006 said: Just received a similar offer from BOA:
1% Cash Back
5% rotating categories
25% bonus if redeem over $300.



This offer makes much more sense to me than the blanket 5% mentioned by the opening poster. Perhaps he didn't realize that the 5% is on a rotating basis. No issuer can make money with a 5% CashBack for all purchases.

Citi cashreturns didn't make money offering 5 percent on all purchases for the first year either, but bofa is simply copying citi lead

it is a real offer and a very good one

sayhey said: ufguy2006 said: Just received a similar offer from BOA:
1% Cash Back
5% rotating categories
25% bonus if redeem over $300.



This offer makes much more sense to me than the blanket 5% mentioned by the opening poster. Perhaps he didn't realize that the 5% is on a rotating basis. No issuer can make money with a 5% CashBack for all purchases.


Did you not see the copy of the letter i posted to the quick summary?

Thanks. I just looked at the Quick Summary. As Bill Bellichick says, "It is what it is". 5% is really outstanding!!!!

got an invitation mail and applied the card.
last week used it to pay my property tax and 5% cash rewards shows in my account now.
haven't seen this nice deal a while.

I will admit that I am jealous of the OP.

I would go to town on 5% Cash Back especially for 12 months.

siliconbeaver said: got an invitation mail and applied the card.
last week used it to pay my property tax and 5% cash rewards shows in my account now.
haven't seen this nice deal a while.


Did you get anything in the envelope like an insert or something with the card stating 5%? Do you have a section in your online account actually displaying it? I called when I first got the card and they just kept rambling so I got no where.

With the 25% bonus, total Cash Back comes to 6.25%, holy crap! This beats the Citi CR card any day, that used to be 5% for 3 months only, this BOA offer is 6.25% (with careful redemption planning) for 12 full months! OP you lucky son of a gun!

hi could someone please post the refernce code for this promotion since i received it in the mail and was thrown out in the garbage by mistake

Nice try

maxime12 said: hi could someone please post the refernce code for this promotion since i received it in the mail and was thrown out in the garbage by mistakeYou can just call BOA and they will look up your code.

Skipping 37 Messages...
Update from application comments a few up...

Though they did call the wife to inquire about her profession (RN's not listed in their app's dropdown so I used "other") and the details on her student loans (one appeared as "deferred" I guess though she's consolidated all of them and is currently paying), they did approve her for the card, $5k. They showed up yesterday, and of course no mention of the 5% gas/groc thru Sept anywhere in ppwk or online, but the guy who called her made mention of it so I'm hopeful.

Is there no cap on the 5% here?? Can't find mention of one. And yeah, their site's rather poorly laid out. I particularly like that you can't see/access the rewards tab and all related info until you make a purchase on the card (and statement cycles I presume?)...ran into the same thing on my old BOA Gold into Worldpoints card several months back.



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