Bank of America cash rewards credit card is one of the most popular credit cards available. This credit card offers a variety of benefits including frequent flyer miles, travel rewards points and the ability to earn cash back from every purchase you make. This article is going to discuss the best way to use the card.
The Bank of America cash rewards credit card earns a bonus reward for every dollar you spend on purchases. The card offers a variety of different categories to choose from such as dining out, gas stations, department stores, restaurants, grocery stores and other purchases you make each month. The rewards category offers up to three percent cash back on an average category and two percent cash back on groceries, for up to a maximum of $2,000 in combined purchases per month. The bank may offer additional incentives such as free air miles for travel, and the ability to earn free airline tickets by using their website.
The best way to get the most from this card is to make sure you do not miss any of the monthly purchases that are eligible for rewards. If you miss an entire month's worth of purchases, the bank will give you a late fee. These fees can be quite high, so you should make sure you take advantage of every benefit and every opportunity to earn cash rewards.
There are a few things that you should keep in mind when using your card at the bank. The first is to ensure that you do not carry more than twenty-five dollars of cash at all times because the bank will charge you a fee if you carry over more cash than allowed. It is very easy to get away with carrying extra money as it is legal to carry a maximum of fifty dollars, but it is usually worth the risk to keep it below ten bucks.
The second tip is to be aware of the credit limit that is allowed to be carried. Although the bank does not advertise it, the limit does increase every year. Many people believe that this limit is not important because they never exceed it. However, the amount that is allowed to be carried on an average account is much higher than what is actually allowed. If you have an extremely large balance on your account, it may be necessary to call or write to the bank in order to see if your limits have been increased.
Finally, the third tip is to remember that the money that you will earn by using your card at the bank is tax deductible. You can deduct any taxes paid against this money. In order to learn more about earning cash rewards at the bank, visit the bank's website and register for the credit card. They have . . . . . . some great deals to be had. After you have registered, you can apply for a cash rewards card from another bank that offers a lower annual fee and offer other great incentives.