Bofa introduces new credit card
Bank of America today introduced the BankAmericard® Better Balance Rewards card - a new credit card that rewards customers with up to $100 annually for responsibly managing their monthly credit card payments. The new card will be available in banking centers and online beginning this week.
With the BankAmericard Better Balance Rewards credit card, customers automatically receive $25 for every quarter that they pay any amount more than the monthly minimum due and make payments on time. Card customers with a checking, savings or other qualifying account relationship with the bank also receive an additional $5 bonus each quarter. With the relationship bonus, customers could earn up to $120 in cash rewards annually. Customers have told us they want a credit card that reinforces good payment practices and recognizes them in a straightforward way for responsibly managing their credit, said Titi Cole, Retail Products executive at Bank of America.
For consumers who typically pay off credit card balances over time, paying more than the minimum due each month can help pay off debt faster.