11 People Helped
Member Since: June 2010
I first had the BOFA World mastercard at a $2.5k limit (originally approved for $1k in Mar 2011) and requested to convert to the BankAmericard Cash Rewards (aka 123) card in Apr 2012. I got approved for a $5k limit. The icing on the cake is a 25% bonus I got once I logged on to my BOFA account since I have a checking/savings account with BOFA. This really prompted my application. This translates to a 3.75% on gas, 2.5% on grocery and a regular 1.25% on all other purchases (including discount stores, warehouses, etc.) I never used the World mastercard much since the rewards were pathetic and honestly I should have always gone for a cashback card. No regrets now with the 25% bonus. The Visa Signature card reports the high balance as the limit. So I had to accumulate several months before my utilization showed as normal. The 0% APR helped. I typically pay in full so it was not a big reason why I applied. A big peeve with this card is it charges foreign transaction fees even if the purchase is in USD, (say with foreign airlines like Lufthansa, Emirates, etc.) unlike Chase. This is my top choice card now. Though there is a helpful increase your credit limit button on the portal, it says my credit report will be pulled. I wish it is a soft inquiry.
sparkarma's response was:
To me, it is the best rotating categories card in the market. That gives it a very high cashback reward. I must admit it is frustrating or a little hard to keep track of the categories, though I only have 3 cards to choose from. It is a hard pull for a credit limite upgrade - that is a ding down. The 10% bonus for Chase checking customers is cool. Also, the flat 1% is for all other purchases including warehouses with no minimum limits unlike Discover. Redemption starts at 20$. Another good thing is there's no foreign transaction fee for online USD purchases from foreign stores/airlines. They were pretty good to match my credit limit upgrade with BOFA. Easy intimation process for upcoming foreign travel. Overall a solid card and one that I use often in addition to the BOFA 123. A lot of my friends also carry this one. So I'm in good company.
Denied with a 735 ck score :( Too many cards with low minimum balance and low credit history.