Five Things You Most Likely Didn’t Know About Bank Of America Cash Rewards
The Bank of America Cash Rewards Credit Card is rather unique in that it enables you to choose the category in which you earn the most reward points. This card grants new cardholders an ample bonus offer, as well as there is no yearly fee attached. In the Bank of America Cash Rewards Credit Card, you will enjoy five to twenty percent cash rebates on groceries, gas and just about everything else (gasoline included).
This is actually a phenomenal amount of money, especially when you consider the fact that you are only earning this money once per year. The actual earning amounts may differ from one card to the next, but you can be assured that you are doing your part to help the economy out. The key to earning as much cash as possible with the Bank of America Cash Rewards Credit Card is to ensure that you use it for purchases only. If you do use it for both online and offline purchases, you will receive more rewards. What's even better is that you can stack these bonuses up, so that you can earn double the amount of money!
With the Bank of America cash rewards credit card, you can enjoy five percent cash rebates on gas, groceries, and anything else, as long as you use the credit card for that purchase. You can then choose to redeem your rewards at any time throughout the year. What's even better is that you are not restricted to redeeming your points at one store. You are allowed to redeem your points at any Bank of America location across the country. As long as you have an active checking account with this bank, you are allowed to earn unlimited rewards!
As you might expect, this particular card offers a wide variety of rewards. Some of the best options include free air travel, hotel stays at The Westin Lenox Atlanta, cruises, dining plans, auto rentals, travel insurance, and much more. As long as you make your monthly deposit, you will be able to redeem your rewards.
Of course, as you probably know by now, if you are going to earn rewards from your credit cards, you must learn how to properly use them. Many people don't earn rewards at all from their cards, because they just aren't aware of the rules. It's important to learn how to maximize your return on investment, or ROI. This means that you need to learn about what it is you are doing with your credit card, in order to maximize your savings.
For example, many people earn rewards by opening a Bank of America savings account. While this offers a good return on investment (ROI), you also have to remember to pay off your balance on a monthly basis. By doing so, you are earning interest on your balance, which works against you if you don't have an enough edge account balance to cover your bill payments each month. If you have a large enough edge account balance, however, you can easily pay off your balance without having to pay any interest!
However, Bank of America cash back credit cards also offer something called cash back bonuses. These bonuses can come in the form of a credit line increase or reduced interest rate. These bonuses are great for those who just need to save a little extra money on their bills each month. In addition, the bonuses earned by Bank of America cash back credit cards may be tax deductible, depending on whether they are held in a grace period or not. Be sure to read the terms of your particular card, as some of these bonuses will only be available if you pay your balance in full each month.
To really maximize your rewards, use Bank of America cash-credit card transfers to do your monthly spending. Transfer your balances to one of their cards and then use the rewards to reduce your current spending. That way, you can enjoy even more rewards while keeping your spending in check. In addition, make sure you pay your monthly bill on time to keep the cash back incentive in effect. You'll soon find that the benefits of owning a Bank of America cash credit card outweigh the costs.
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