|by Mr Credit Card|
The Bank of America Accelerated Cash Rewards American Card is one of five (yes five) cash back cards from BOA. In fact, most of them have the same formula, which makes you wonder why they have five at all? Is this card any different? Let’s find out.
Rebate Formula – OK, let’s start with sort of cash rebates can a card holder earn from using this card. Turns out that you will earn 1.25% rebates for every dollar that you spend on the card. You can earn unlimited rebates. You can get your rebates in a check, statement credit or direct deposit into your checking or savings account.
Fees and Rates – As with most cash back cards, there is no annual fee. The APR ranges between 8.99% and 18.99%.
What do I think – Well, plain and simple. If you are looking for a credit card to earn cash rebates, I suggest you give this card a skip. This is because there are other cards that will pay better rebates than 1.25%. For example, cards like the Blue Cash pay 5% on gasoline, groceries and drugstore purchases. To find the card that will let you earn the most rebates, just fill in your expenses in the form below and it will show you how this card stacks up against the best cards.
Enter your approximate monthly spending into the calculator below to see how much you can earn per month if you’re using the Bank of America Accelerated Cash Rewards Card versus other cards!