The Bank of America Cash Back card provides new cardholders attractive benefits for everyday spending and a small introductory balance transfer fee; however, the APR is fairly high for cardholders with low-credit scores. Because of this fact, it would be wise to shop around before signing on with Bank of America. Here's what you need to know about the card.
First, lets take a look at how the Bank of America cash rewards credit card works. When you apply online for a cash rewards credit card, you'll find that your introductory rate will be for up to five years, and then you'll be charged a one-time low rate. This low introductory rate is good for making purchases as long as you don't exceed your limit. Once you've maxed out your limit, you'll be charged a higher interest rate. That's why you want to shop around for the best possible introductory rate when you apply for a Bank of America card.
If you're looking for an online application for a Bank of America card, make sure that it offers secure payment methods. You should also look at the terms of the card to make sure that there aren't any hidden fees or penalties. These fees can include over-limit fees, over-limit alerts, and late charges. Also, make sure that the terms include a grace period where you can pay your balance in full, and that it doesn't have a prepayment penalty or chargeback policy. By comparing different offers, you should be able to get the best deal possible.
You'll also want to check out the rewards that are offered by each bank. Most credit cards will reward you with a percentage point rebate, but some of them will actually give you cash rewards. Many of these cash rewards will be available to you right away, while others are available after your first purchase has been made. Be sure to read the fine print carefully so that you are aware of any restrictions or terms that you should look out for when applying for the card. You should also compare the rewards offered by each bank to ensure that you get the maximum amount of points that you're entitled to.
Finally, it's a good idea to shop around with different banks before you sign on with a specific card. You may find that the one that offers the best incentives gives the most cash rebates. Or maybe it's better to choose a bank that gives you an annual percentage rate that you can easily afford. since credit cards with low annual percentages will give you more credit card rewards and lower interest rates overall.
In general, when it comes to a credit card, you want to shop around before choosing one from a bank. You want to find a card with low APR and high cash rewards. This way, you'll be able to get the most money off of your card costs.