Bank of America‘s credit cards have had a very long and extended period of blemish attached with them of not being very rewarding for a cash rewards credit card, as compared to its big-ticket competitors. Luckily for them, about a year ago, they upped the stakes on their Cash Rewards Visa card, wherein the features of the card will definitely give their competitors a run for their money. The Bank Americard U.S. Pride Cash Rewards Visa Card is a good choice for a credit card for those looking to earn a little something back from their credit cards with respect to most of their spending.
The Bank Americard U.S. Pride Cash Rewards Visa Card –Sweetening the Deal
Issued by Bank of America, the BankAmericard U.S. Pride Cash Rewards Visa Card has a very attractive and rewarding cash back program, which also happens to be its most standout offer. Almost all consumers spend the most of their monthly salaries on grocery and gas in these times. The Bank Americard U.S. Pride Cash Rewards Visa Card enables cardholders to earn generous 2% cash back at grocery stores and 3% cash back on gas purchases. This cash back is available on the first $1,500 that they spend on both gas and groceries purchases combined for each quarter. If the spending limit of $1,500 is exceeded, then the cardholders are entitled to 1% cash back for purchases and spending thereon. Additionally, cardholders earn 1% cash back on all other purchases excluding gas purchases and grocery store purchases. Cardholders are also automatically entitled to the cash backs after becoming cardholders and don’t have to separately enrol for the cash back program, as it is with many other cash back credit cards. What’s more, the cash back points do not expire, allowing cardholders to accumulate as many points as they want and redeem them whenever they wish to.
For any card, the lure lies in the sign-up bonus, and the Bank Americard U.S. Pride Cash Rewards Visa Card makes sure of the same. The card allows new cardholders to receive an amount of $100 in cash back if they spend a minimum amount of $500 in the initial 3 months of them signing up for the account. While this might not seem like a very large amount of bonus, initial purchase bonuses are rare in most of the top-notch cash back rewards credit cards. Moreover, regular spenders will hit this mark easily.
The Bank Americard U.S. Pride Cash Rewards Visa Card also offers attractive introductory rates of financing. The introductory APR for new cardholders is 0% for the first 12 months of owning the card, which can be a useful tool for cardholders for managing credit balances for the first year. Expensive purchases can be paid off interest-free in the first year. Thereon, a variable APR of 12.99%–22.99% will be charged to cardholders, based on their creditworthiness. Additionally, 12 billing cycles on balance transfers made within the initial 60 days of new cardholders opening accounts will also enjoy 0% APR, after which the same variable APR of 12.99%–22.99% will be applicable. However, prospective cardholders should understand that they will still have to pay the initial balance transfer fee of 3%, which is usually at least an amount of $10.
Another great advantage of the Bank Americard U.S. Pride Cash Rewards Visa Card is that there are no crazy redemption levels, that is, a cash back amount of $50 means a full a full $50 rebate. What’s more, cardholders can redeem their cash backs in the form of deposits, statement credits or checks into a checking account or a BofA savings account. Depositing rewards earns 10% more cash back, which means that if cardholders have $50 in cash rewards, they are entitled to earn $55 in deposit. The Bank Americard U.S. Pride Cash Rewards Visa Card also has no annual membership fees.
There are many additional features of this Bank Americard U.S. Pride Cash Rewards Visa Card which help cardholders stay on top of their account. Cardholders can not only configure their accounts to receive email or text alerts as reminders for payments due, but they can also control which types of alerts they want to receive. The Bank Americard U.S. Pride Cash Rewards Visa Card also makes use of something known as the “Chip technology”, which is the Gen Next technology of making the safe payment system of card payments even more secure. This allows cardholders to make purchases worldwide wherever chip technology is used and protecting them from fraud. The Bank Americard U.S. Pride Cash Rewards Visa Card also has a $0 liability guarantee, which protects the cardholders from any liability for unauthorized purchases. If their card gets lost or stolen, they won’t be liable to pay for any unauthorized purchases.
The not-so-good cons of the card
Although the Bank Americard U.S. Pride Cash Rewards Visa Card’s offerings are quite good, there are certain drawbacks too. The quarterly rewards ceiling on the cash back is a little disheartening, as the $1,500 is qualifying only for gas and groceries. Moreover, there will also be customers who will max out on this card easily as their spending is definitely more than that. In this case, the Freedom card by Chase does a better job, offering 5% cash back on purchases in rotating categories, among them dining, department stores, theatres as well as grocery stores, as well as 1% back elsewhere. If we talk expressly only about gas and groceries, then the Blue Express Card by AmEx also trumps the Bank Americard Visa Card with 6% back at supermarkets, 3% at gas stations and department stores, and 1% elsewhere. Also, the sign-up bonus cash back expires after 90 days, which means that customers have to remember to cash in those checks.
Though it has its drawbacks, the overall offering of the BankAmericard U.S. Pride Cash Rewards Visa Card delights most, and the card is an excellent choice for those big spenders on groceries and gas, as well as those who indulge in big-ticket purchases for the first year of membership. Check out more details on its website.