New BOA Cash Rewards Credit Card Hitting the Market - Products News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Products » New BOA Cash Rewards Credit Card Hitting the Market

New BOA Cash Rewards Credit Card Hitting the Market

New BOA Cash Rewards Credit Card Hitting the Market
December
21
The content is accurate at the time of publication and is subject to change.

Bank of America will be rolling out a new Cash Rewards Credit Card, letting people pick from one of six categories to get 3% cash back. The categories include everything from travel, eating out, and gas, to online shopping, drug stores, travel, and home improvement/furnishings. They also earn 2% cash back when shopping for groceries and 1% cash back on everything else.

On January 14, 2019, cardholders will get to choose the category in which they want to earn their 3% cashback. This new card is seen as a way to give cardholders more flexibility when it comes to rewards. “We understand that consumers’ lives and spending priorities change constantly, and clients tell us that they want the power to choose how they are rewarded,” said Jason Gaughan, credit card executive at Bank of America.

“Clients can choose which categories best align with their life priorities, allowing them to maximize the rewards they earn,” added Gaughan.

Choosing categories every month

Cardholders are not locked into the category they choose when earning the 3% back. In fact, they can change the category once a month if they like or they can let it ride. They can do this via the Mobile Banking app or the website.

When earning 3% and 2% back people earn this enhanced reward on the first $2,500 they spend, and from that point on they earn 1% back. Do rewards expire? No, rewards do not expire, and there is no limit to how much 1% back people earn.

When it comes time to redeem their cash back cardholders can get a credit transferred into a 529 account or have it transferred into a Bank of America account. There is no minimum when transferring cash back into a BOA account.

There is no annual fee for this card.

Extra earnings with the Preferred Rewards program

People who have signed up for Bank of America’s Preferred Rewards program are eligible to get a 25% to 75% bonus when using their card. When you do the math this means that the 3% back can go up to 5.25%, while the 2% category becomes 3.5% and 1% can go up to 1.75%.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

First Bankcard & Cadence Bank Roll Out a New Credit Card
First Bankcard & Cadence Bank Roll Out a New Credit Card

Posted: June 04, 2019

Cadence Bank and First Bankcard have teamed up to create a new credit card program for Cadence’s customers, whether they are consumers or business customers. When it comes to their consumer cards people will have a variety of choices to… Continue reading

The New Discover Categories for 2019 are here
The New Discover Categories for 2019 are here

Posted: November 06, 2018

People with the Discover it® Cash Back credit card get 5% back on different categories during the year (up to the quarterly maximum, 1% cash back after that, you need to activate categories) and… Continue reading

New Categories for Chase Freedom Cardholders
New Categories for Chase Freedom Cardholders

Posted: March 21, 2019

Four times a year people with the Chase Freedom Credit Card can earn enhanced rewards in key areas, and they have just announced the new categories. This coming quarter cardholders earn 5% cash back when they shop for groceries or at a… Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
The Citi Rewards+ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap
For Excellent, Good Credit
Earn unlimited 1.5% cash rewards on all purchases.
For Good, Excellent Credit
See Rates & Fees
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!