Bank of America Better Balance Rewards Credit Card Review

The BankAmericard Better Balance Rewards Credit Card is a peculiar card when stacked up against similar rewards credit cards.

The big thing with this card is that it doesn’t reward you for spending money; instead, it rewards you for keeping on top of your bill payments!

BankAmericard is known for producing odd little known gems of credit cards and this one is certainly no exception. If you need extra motivation to pay off your bill, what should you know about this credit card?

Below is a BankAmericard Better Balance Rewards Credit Card review of the features you get when you apply online right now:

4.5 / 5 stars     

Paying Your Bill Just got More Rewarding

Aside from the psychological pleasure of having more money on your credit card to spend (or the pleasure of paying down a bill), most credit cards don’t really give you a concrete benefit for paying your bill on time aside from dodging angry letters.

But this card is different.

This card does not give you cash back for spending money on the right purchases.

Instead, it rewards you for paying more than the monthly minimum payment and paying your bills on time. You also get rewarded for being a customer of Bank America. Here’s how the system works.

It may seem a little convoluted, but the thing to keep in mind is that this card is trying to encourage people to stay out of debt; a rare thing among creditors.

Here’s how it works.

For every calendar quarter, you can receive a $25.00 cash reward if your monthly payments are received on or before the due date and are more than the minimum due.

You have to have a payment due in each month of the quarter (zero balance or credit balance doesn’t count). So for example, if you have a minimum payment due of $100.00 on August 18 and you pay $150.00 on August 12, you get your credit. As long as you always pay more than the minimum due every month and you have a balance of some kind every month, you get the reward.

This does not mean you shouldn’t pay off your balance in full every month; you need to have a balance on the statement closing date and pay off at least the minimum on the due date.

This means that you can use this card and still avoid the interest rates while still getting cash back. It just requires some careful juggling.

Every quarter you can earn this $25.00 which means you can get up to $100.00/year in cash back. You can also get an extra $5.00/quarter if you have a checking, savings or other account with the bank. This means that you can get $120/year just for being responsible with your card!

You also get other perks such as purchase replacement, emergency travel assistance, rental car collision damage waiver, overdraft protection and mobile banking.

This is a pretty unique card in that it really pushes you to keep on top of your bills.

I really think that if more cards did this, we’d have fewer people having trouble with their bills; at least they’d be motivated to pay them!

Fees Associated with the BankAmericard Better Balance Credit Card Offer

This card doesn’t hit you with sneaky bills and problems that make it harder to get that cash back which is always a concern with these very different cards. This credit card has no annual fee to worry about and an APR which varies between lower than the average to slightly higher than average.

It does have a balance transfer fee, so keep that in mind if you’re using this card as a way to save money on a high interest credit card. On the other hand, you get an introductory APR of 0% for twelve months on both purchases and balance transfers.

If you have an old debt to clean up, this might be the card to use as you can not only save on interest, but get rewarded for paying off the debt!

The BankAmericard Better Balance Rewards credit card is a unique card among many others. It encourages you to pay off your debt by rewarding you for paying on time and above the minimum and it doesn’t hit you with weird fees or high interest rates (unless you have a less than stellar credit rating).

As long as you pay your card on time and pay it off every month while still using it regularly, this card can be hugely beneficial to your finances. If you think this is the card for you, apply for the Bank Americard Better Balance Rewards credit card today!

4.5 / 5 stars     

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