The BankAmericard Susan G. Komen Cash Rewards Credit Card from Bank of America is an improved version of its predecessor, the Pink Ribbon Signature Visa Card. The chief differences are that 1) instead of points, you get a percentage, and 2) it racks up better rewards for groceries and fuel purchases. This new card is a MasterCard, not a Visa like the one before. Both versions of this card benefited the Susan G. Komen movement to eradicate breast cancer. Specifically, Bank of America will donate to Susan G. Komen at the following rates:
- $100 to Komen if you make at least $500 in purchases within the first 3 months of card ownership;
- Minimum of $3 to Koman for every new card activated;
- Up to .2% of all retail purchases to Komen;
- $1 to Koman for each card renewal;
- A guaranteed minimum donation to Susan G. Koman of $1 million;
- Written to occur between February, 2012 and May, 2015;
- In 2009, BoA had already donated more than $4.6 million as a result of conjunctive business associated with this card;
But is the Susan G. Komen Cash Rewards Credit Card good for the cardholder or just the Komen foundation? The bottom line fact is that you could actually donate more to the Komen group by simply making a cash donation. BoA does not donate for you. For your purchases, only .2 of 1% is donated passively. That means that if you go out and spend $1000, then Susan G. Komen only receives 20 bucks. That’s not such a great donation really. You could just send in the $20 on your own and forget the card. It seems like the bulk of donations to Komen are going to come through new card sign-ups and the $100 they get for new cardholders going out right away and charging that first $500.
The BankAmericard Susan G. Komen Cash Rewards Credit Card makes a great conversation piece. Whenever you whip it out top make a purchase, you’ll feel like you’re showing the world how much you care, how much you’re moved by being as Komen supporter.
There’s no annual fee for the Susan G. Komen Cash Rewards Credit Card. But there are all the fine-print details to consider otherwise. For instance the 3% and 2% on gas and groceries respectively are only in effect for the first $1500 spent on those items per quarter. That means a total of $1500 spent on gas and groceries together. In my family of four, $1500 doesn’t even cover 90 days of food, let alone gasoline for 3 vehicles on top of it.
Other fees of the BankAmericard Susan G. Koman Cash Rewards Credit Card:
When you purchase a wire transfer from an entity that is non-financial, the fee will be either $10 or 5% of the amount transferred, whichever is more. Balance transfer fees are either 3% of the amount or $10, again, whichever is greater. Direct deposit and cash advance fees are again either $10 or 3% of the amount. For ATM, online or same-day cash advances, the fees are increased to $10 or 5%. The rate for foreign transaction is a straight 3% of the amount after it has been converted to US dollars.
You can opt to enroll for Overdraft Protection on cash advances initiated on the Susan G. Komen Cash Rewards Credit Card. If you do enroll, then there will only be a $10 fee assessed every time you might overdraw your checking account. And if the account is overdrawn by less than $10, no fee will be assessed at all. That might seem enticing, but is it really? Is BoA truly extending itself for their customers – or do you think they could do a bit better perhaps? There’s also a $35 fee assessed for making a late payment and a $25 fee for having a payment returned.
APRs for the BankAmericard Susan G. Komen Cash Rewards Credit Card are industry-competitive, like all of them. Depending on your credit score and history, your base APR will be set between 12.99% and 22.99%. For the first 12 billing cycles, the intro APR is 0%. Note that this APR only applies to purchases made within the first 60 days of having the card. That’s pretty tricky BoA.
Then there’s the difference (which you have to dig deep to understand) between “Direct Deposit” and “Check” cash advances at 22.99% APR and “Bank” cash advances at 24.99%. What’s that extra 2% for anyways? Who benefits from that? Also, if you happen to make a late payment, even by sincere mistake, your account will be hit with the penalty APR of 29.99%.
Other passive benefits that come stock with your Susan G. Komen Cash Rewards Credit Card including ShopSafe® which gives you extra safety while shopping on the Internet. You can also link your card to your Bank of America bank account to enroll in Overdraft Protection. And of course, there’s more mundane features like paperless billing, text banking, mobile phone banking and online banking available. On a personal note, I do enjoy the convenience of being able to check my balance, within mere seconds, via texting with my card issuer. If you want to explore all the fine details associated with this rewards card from Bank of America, then please visit the Susan G. Komen Cash Rewards Credit Card website.
Overall, to me, this card is just about like the majority that are available. You see, there are literally hundreds of credit cards for prospective consumers to select from. Each card has a business model behind it that is supposed to make it irresistible to a certain targeted group (or groups) of consumers. For any given card, the consumer is either attracted to, it or not attracted to it. The Susan G. Komen Cash Rewards Credit Card is an overall average card that gives to the fight against breast cancer. You may be better to choose a cash back rewards card that has a more generous rewards structure, and then donate your cash rewards to the charity or foundation of your choosing.