Bank of America: Exceed Minimum Payment on Credit Card, Get Rewarded

Bank of America: Exceed Minimum Payment on Credit Card, Get RewardedHere’s a new twist for getting and retaining quality customers: reward them with up to $100 annually for making more than the minimum payment due.
Bank of America is introducing the BankAmericard Better Balance Rewards card.
It’s got a long name, but the plan is fairly simple. Customers automatically receive $25 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 with Bank of America get 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.
Paying more than the minimum due each month can help pay off debt faster, so the reward is worth potentially more than the $100.
However, always make sure the interest rate after the introductory offer is reasonable. And always fully review all fees. The BankAmericard Better Balance card has no annual fee.

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