Update 7am 6/26/15: there is an even easier way to charge your BBR CC with Amazon Allowance, read this post to learn more.
(Hat Tip to Stefan @ Rapid Travel Chai)
Good morning everyone, I recently converted from a Bank of America Alaska Airlines Visa Signature Credit Card to a Bank of America BankAmeriCard Better Balance Rewards Credit Card (BBR CC). Why? With the BBR CC, you can earn up to $120 per year in cash back. How? Every quarter (Jan-Mar, Apr-Jun, Jul-Sep, Oct-Dec), you can earn a $25 bonus when you make 1 qualifying purchase per statement period (aka month) and paying your bill in full. If you are a Bank of America customer (checking, saving, or Merrill Lynch account), you will get an extra $5 bonus per quarter. So if you are a Bank of America customer and make all the qualifying purchases, you will make $120 per year. If you are not a Bank of America customer, but you do make all the qualifying purchases, you will make $100 per year.
I summarized the BBR program above, but if you want to read all the small print, go ahead. One thing I want to point out is that the quarterly bonus will post to your account the following statement period. So for quarter 1 (Jan-Mar), you will receive the quarterly bonus on your April statement. This schedule continues throughout the rest of the year.
If you become a BBR CC customer in the middle of a quarter, you just need to complete the rest of that quarter to be eligible for the quarterly bonus. That is a good news for new customers. Another thing I wanted to point out is that *you must have a payment due in each of the monthly cycles of the calendar quarter to be eligible for the Quarterly Cash Reward; a zero balance or credit balance does not qualify.* Do not pay your BBR CC bill before the statement closes, otherwise you will disqualify yourself from the quarterly bonus.
To make a small purchase on the BBR CC, I use Amazon. It has long been possible to buy Amazon eGift Cards for yourself and load them to your Amazon account. But what if I told you there was an easier way to do essentially the same thing. Well, there is. You can reload your Amazon Gift Card balance in 1 simple step. Just enter a dollar amount and click Continue.
Make sure to add your BBR CC and use that as the payment method.
After you place your order, you should see your Amazon Gift Card balance increase automatically. That’s all you need to do, no more steps are needed.
Why did I make a $5 purchase instead of a 50 cent purchase to load my Amazon Gift Card balance? Great question. After speaking with Stefan and a few other people who have had a BBR CC, I learned that some purchases are too small and Bank of America issues a “Small Balance Credit Adjustment” thereby paying off your bill and disqualifying you from receiving the quarterly bonus. I’ve heard that balances under $2 trigger the “Small Balance Credit Adjustment”, so I wanted to be safe and make a $5 purchase.
The $5 Amazon charge shows up as a normal purchase. Since I recently converted from a Bank of America Alaska Airlines Visa Signature Credit Card to a Bank of America BankAmeriCard Better Balance Rewards Credit Card, the annual fee refund posted to my account. I’m worried that the credit balance in my account will cause a problem getting the $25 quarterly bonus, so I will ask Bank of America to send me a check for the $75 annual fee refund, leaving a $5 balance, triggering the quarterly bonus.
If you have any questions, please leave a comment below. Have a great day everyone.