New BOA Credit Card Offers $100 Back Per Year, 0% APR 1st Year

Bank Of America launches new reward credit cardBank of America has launched a new rewards credit card called the ‘BankAmericard Better Balance Rewards.’

Customers who pay more than the required minimum per month and make timely payments will receive $25 cash back each quarter.

There’s a 0%  interest rate and no annual fees on new purchases for the first 12 months and transfers of balances done in the first 60 days.

Customers with a savings or checking account who qualify each quarter for cash back will get an extra $5 bonus.

After the first year, the card will have a standard variable interest rate from 11.99% to 21.99%.

Late with a payment? According to the card’s Terms and Conditions, there’s a late payment fee of up to $35 will be charged, the 0% interest period will be negated, and the interest rate can jump to as much as 29.99%.

It’s interesting to note that while BOA does say that a balance has to be carried each month to qualify for the quarterly cash back reward, they do not have a set minimum (other than it has to be more than zero).

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After reading stories of university drop-outs going on to become ERP sensations, Adeel was motivated to dig deep into their lifestyles. He’s been into the ERP world since 2008, researching and feeding on the latest trends and updates. He also peeks over social media.