frogdog51

https://www.bankofamerica.com/credit...credit-card.go

(For cash back lovers)

Assuming you meet the criteria and reach top tier level, this seems to be the best overall CB credit card out there.

If you attain the highest level of BOA Preferred Rewards, with this card you'd get:

1.75x on all purchases
3.5x on gas, groceries and drug stores
5.25x on travel purchases

I've tested this card out at Target (groceries/RB loads) CVS, a couple gas stations (in store, not the pump) and the local AAA branch (Visa GC) and it does work.

You can redeem for 1% cb (5000=$50)

OR...

AAA Branch and AAA AAR Vouchers
Points AAA branch voucher AAA facility voucher (car repair facilities)
5,000 $60.00 $55.00
10,000 $120.00 $110.00
20,000 $250.00 $220.00
50,000 $700.00 N/A


So, if you achieved the highest tier, you could effectively spend (or load) $5750 at a grocery store and redeem a $250 AAA branch Voucher (whatever that is)

Seems too good to be true, am I missing something?

FlyingXplorer

Your math is wrong. Bank of America Preferred Rewards clients earn an additional 25% to 75% rewards bonus on every purchase, applied to the base earn of 1 point per $1.

So with the 75% bonus, the numbers become 1.75X, 2.75X, and 3.75X. None of which is exciting.

Beckles

The OP's math is correct, your math is wrong. 3% x 1.75 (75% bonus) = 5.25%

I have a BofA card that has rotating 3% categories and I get the 50% bonus, so for instance in the first quarter of this year I've been earning 4.5% cash back on my travel charges to the card (3% x 1.50 (50% bonus) = 4.5% cash back).

The only unexciting thing is the balance requirement, but note the balance requirement can be met from an investment account.

FreakingFlyer

Some of us can't get BofA cards . . . but otherwise it sounds good to me.

wuchien6401

1.75X, 2.75X, and 3.75X.

Your math is wrong. Please see T &C

From T &C

AAA Member Rewards Program Information. Earn one point for every dollar of qualifying purchases less credits, returns and adjustments (“Net Purchases”) charged to the card each billing cycle. Earn 2 points per dollar (consisting of 1 bonus point and 1 base point) for Net Purchases made with the card at any eligible gas, grocery or drug store merchant. Earn 3 points per dollar (consisting of 2 bonus points and 1 base point) for Net Purchases made with the card through any participating AAA Club when AAA is the merchant of record, or at eligible retail travel merchants.

Bank of America Preferred Rewards clients earn an additional 25% to 75% rewards bonus on every purchase, applied to the base earn of 1 point per $1.

So with the 75% bonus, the numbers become 1.75X, 2.75X, and 3.75X.


Personally, I like BOA travel, it pay 2.625X for everything.

Beckles

If that's correct it is a peculiarity of the AAA card and not typical of other BofA products in my experience, I have two other BofA cards and I earn the 50% bonus on all points/cash I transfer to my bank account.

MaxVO

What kind of Visa GC's can you get from the AAA branch: flavor (or issuing bank), denomination, and fee?

frogdog51

Metabank, 500, 4.95 (at least here in MD)

MaxVO

Not bad!

HikerT

Metabank will shut you down with any sort of volume buying AAA GCs. I was considering the AAA card a few years ago until I got shut down (had bought less than 10K).

MaxVO

Did you have an account with Metabank that was shut down? Please elaborate.
The discussion above was about anonymous non-reloadable debit cards.

36902BRF

Check out the AAA thread in this forum for more details (too lazy to find the link) but anyway when you buy AAA Visa gift cards (at least in the Mid-Atlantic region) they register each one to you so they are not "anonymous". In my case I bought a "grand total" of $5.5k in gift cards over a six month period (no more than $1500 in any one month) and got closed down for "fraud". I was at the low end of the closures (some folks have pushed more volume before closure).

The AAA lady told me that Metabank called her and said I was committing/suspected of fraud and not to sell to me anymore. So there is now a note in my AAA membership records to the effect of not to sell me any more gift cards or other Metabank products.

It is possible a new membership would get around this block but it just isn't scalable so I haven't tried. You could also try buying without a membership (costs are higher) but given it is always the one or two same lady's helping at my AAA offices I am sure they would remember you if you did any volume and Metabank would still close you (close that guy who came in last Saturday and purchased $Xk amount).

Alcibiades

Yes, once contacted by MetaBank about a person, AAA will refuse to sell anymore to that individual.

chaser123

OP math is correct, I think. I have a slightly differnet card, B of A Priveleges with cash rewards. I get 75% bonus on top of my cash back rewards. No annual fee. I have believed for a while that its one of the best cash back cards. I get a base of 3% on gas and groceries. with the bonus its 5.25% cash back on first $1,500 per quarter. Other categories are a base of 1-2%. You need certain amount of assets to be held at B of A / merrill to get Platinum preferred. I think its 75k.
Personally, I am a points guy, I get amazing value out of points I receive. I only use this card for all my gas purchases. For groceries, I rather get the 5 ink points on supermarket gift cards (plus an additional 5% staples rebate).
If you you like cash rewqards, this is definitely a good card.
The TPG app always tells me to use a B of A card, its an awseome app. You can put your status on teh app. (There are three levels, platinum gets the largest reward)

MaxVO

Wow, it's quite invasive and nasty of Metabank + claiming 'suspected fraud' after being properly paid!
Thanks for the warning!