Do they have a balance transfer fee? If so, this could just offset the fee.
If no balance transfer fee, this could be a good deal.
Their calculate the bonus feature on their website seems to have no dollar limit.
If looks like one could do a transfer to them, pay it off, and then do another in the same year, for a second bonus.
Then next year one might do another transfer from a different lender.
Anyone know what limits they give, and how hard it is to become a member?
I like this card because I already am operating the Mastercard version of the very same card, from B of A. Today I garnered my first $75 for 2021. OK, you sniff at my $300/year reward based on 3% of $2500 every quarter . . . which is all I ever spend. $300 here and $300 there and . . . well . . . you keep on doing that and it eventually adds up.
I figure if you operate two of these cards, one Visa and one Mastercard, now you have $600/year at that same 3% reward rate. The $200 bonus? Nice, but merely a one shot, one time cash infusion. The larger money is in the rewards . . . year after year after year.
The attractiveness of the BOA Cash cards is highest if you have the right preferred status ($100,000 with Merril). The Komen cards give similar rewards, and a little for breast cancer, and you may be able to get both. With a wife you might have 4 cards and by picking categories right, earn more.
I was just approved instantly for this card with a $13K credit line (which I don’t need). Waited to apply until today so I could pay off another card, thereby boosting my score by almost 100 points. For anyone else interested in this deal, which includes the $200 bonus, there is a wrinkle. The link I provided above has gone dead. I found this new link
Together with my existing Mastercard version of this same B of A card, I’m now set up to earn $600/year in rewards at the 3% rate. 3% reward opportunities are not growing on trees. I’m happy to have this card, a “cash cow” for sure.
First, I do not even have a $100K IRA. If you have: congrats. I did not work long enough to build up so large an IRA.
Second, I do not believe in “index funds”. If you do, I sincerely hope that is working out for you.
Third, I would never entrust $100,000 of my money in any form to Bank of America. It’s a “big bank”. I do not do business with them, other than credit cards, and frankly few of those. I prefer the smaller financial institutions. And I prefer products with the fewest number of strings and entanglements.
For example, the B of A CC deal I posted above has no annual fee.
Correct. I know what I’m doing. When you have done this stuff with success for as long as I have, kindly get in touch. At that point I might have interest in your views.
Shin - you could’ve just stopped with the part about you not having a $100k account available to transfer. Especially the part touting your success - you dont know anyone else’s experience, and in the grand scheme of harvesting cashback you are still a relative novice.