Bank of America claims that the Bank of America Cash Rewards Platinum Plus Credit Card is now the most convenient credit card is also the most intelligent choice on their website. This is indeed a bold claim and one that I actually agree with. One can easily reach for the new Bank of America Cash Rewards Credit Card to gain cash back on every purchase that is made with the card. You can use the card for your day-to-day needs including shopping, groceries, gasoline, entertainment, as well as paying household bills and insurance payments. All of this adds up to cash back in your pocket.
Currently the Bank of America Cash Rewards Platinum Plus MasterCard Credit Card offers an introductory 0% annual percentage rate (APR) for cash advance checks and balance transfers through your first twelve billing cycles. This is subject to a 3% transaction fee, that can be no less than $10. Basically, for every $2,500 you spend in net retail purchases with your Bank of America Cash Rewards Platinum Plus MasterCard Credit Card, you'll earn $25.00. This comes out to be a full 1% cash back. Currently there is no limit to how much cash back you can earn with the card. Whenever it occurs that your new purchases total $2,500.00, all you have to do is call and $25.00 is added directly to your credit card account.
The Bank of America Cash Rewards Platinum Plus MasterCard Credit Card features convenient account access as well. Holders are entitled to their free online account management service. This offers complete access right at your fingertips to help persons save time and money while they manage their account. Also it is most easy and simple to pay your credit card bill online. At anytime you can view your account information online including checking out your balance, transaction activity, and payment due dates whenever you like. If you would like to consolidate your balances to your Bank of America Credit Card online that is easy to do as well. To top all that off you can also request credit line increases, order access checks, and more. The enrollment process is fast and simple.
Customer Service for the Bank of America Cash Rewards Platinum Plus MasterCard Credit Card is second to none. Cheerful and helpful representatives have always been there for myself when I have called concerning issues with my personal account and I have no complaints. I have never had to wait more than just a few minutes, and all of my concerns or questions have always been addressed or answered very quickly. This is most rare in this day and age of automation, where it seems it is next to impossible sometimes to get ahold of a real person.
At the time of the review of this credit card all information presented was accurate and up to date. Please be certain to get the latest terms and conditions for this offer from the application page of the card issuer before applying for this or any other credit card.
Rewards are everywhere! Gas stations... grocery stores... pharmacies... hotel chains... They all claim to reward you on purchases that you make. Likewise, credit card companies have their own rewards credit cards programs. Simply put, the more you spend, the more rewards you get from a rewards credit card. Sounds like a sweet deal, doesn't it?
The Fun Factor of Rewards Programs
Unless you're a savvy rewards credit card shopper that's done his or her homework, then you might end up feeling like a kid again or worse yet, a fool. Remember dropping quarter after quarter into the machine trying to get that cute little stuffed animal only to end up with a little plastic finger ring and empty pockets. If lucky, you might have gotten that irresistible toy after all, but it probably cost you way more than it was really worth. With games, I guess the idea is "fun," and if you get rewarded that's even better. But with rewards credit cards, is the "fun factor" worth your hard earned money? Read more to find out how to keep the fun in the rewards.
Avoid High APRs
Cards with rewards often have higher interest rates than the typical card. For those who like to pay off their balances each month, rewards credit cards might be right up your alley. If you don't pay off your balances, then you might find that the higher rates are not worth the rewards. You will need to do a little math to figure out the best deal.
Avoid Annual Fees
Like high APRs, a reward credit card may require you to pay annual fees as much as $40. Once you've paid the annual fee, the rewards might not be enough to justify getting the card in the first place. Consider the value of the reward versus the amount spent in annual fees and interest rates.
Cash In On Cash Back
Some rewards credit cards offer cash back rewards for your purchases. For example, you might earn 1% on all purchases. If you spend $5000, then you'll get $50 back. This type of rewards credit card bases the cash back earned on the amount of purchases you make, and there might be a maximum limit you can claim. When evaluating these offers, be sure to read the fine print.
Accumulate and Redeem Points
Most point systems are designed to give you about one point per penny spent. Say you earn 1000 points using your reward credit card. You might get a reward worth about $10, such as a store gift certificate or credit that can be accumulated and applied to a larger gift reward. If a rewards credit card offers less, has a cap on the number of points you can earn or the points can expire before you use them, then you might find a better deal elsewhere. Take time to shop around!
Fly the Skies
Frequent flier programs are similar to the point system and cash back rewards. You might get one flier mile (or point) for every $2 that you spend using your card. Most cards require you to generate around 25,000 point before you can redeem them for free airline fare. Any cards that require you to accumulate more points might not be worth it. If you are a frequent flier and can benefit from this type of program, compare reward credit cards. The best place to do this is online.
There are numerous reward programs that are available when using rewards credit cards. Individual cards may have specialized programs that are tailored to various groups, such as small business owners, students, travelers, "shopaholics", etc. Just like the carnival games, a girl will run straight for the games with doll prizes, whereas a boy will want to play for balls or cars. The same holds true for credit cards shoppers. But beware of the gag gifts! Take your time to read the fine print and shop around for the best rewards credit cards.
Both Sam Donaldson & Robert Alan are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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