Bank of America Cash Rewards is a simple cash back card, which converts the money users spend on purchases into reward points which can then be redeemed for gift cards at retailers including CVS, Target, or Wal-Mart. The reward point system works by adding up the amount of money users pay on purchases and then deducting any applicable taxes or fees, and then adds the difference to the amount they get paid. This works out to an equivalent cash back amount as long as the card remains active and in use.
Bank of America is one of the biggest lenders to individuals. As such, it is not surprising that people who have this bank card can use it on a variety of purchases. They can also earn reward points which can then be redeemed for gift cards. The benefit of this kind of reward program is that customers do not have to worry about counting pennies or counting the right amount of points to redeem for a card.
With all of the benefits offered by this card, it would be easy to see why it has become such a popular choice among consumers. If you have a business with a lot of customers, then Bank of America may be the ideal choice. By paying a little bit more on your spending, you will also get to reward some loyal customers who spend more than the standard customer and therefore give you a lot of repeat business.
The downside to Bank of America cash rewards credit card is that it does not come with an annual fee. Many other cards come with this kind of fee, and it may make it difficult to keep your balance low. If you are already locked in to an annual fee card, you might find it hard to choose a cash back card without incurring an additional charge.
Another benefit to this kind of credit card is that the rewards and reward points can be used for other purchases, such as hotel stays or car rentals. This means that they can be used to pay for food, gas, and entertainment expenses as well. In most cases, people who have this type of card to use it to spend less money on their everyday expenses because they are earning more reward points, making them money when it comes to paying for things instead of simply spending money on buying them.
Bank of America cash rewards cards are great for many consumers who want to earn more reward points or simply save money on purchases, but don't want to sacrifice their current credit card. This card is great for anyone who likes to shop at Target or CVS.