Good afternoon everyone. In 2022, I applied for the Bank of America Business Advantage Unlimited Cash Rewards Credit Card. At the time, there was a $500 sign up bonus after spending $5,000 in 3 months. Unfortunately, the current sign up bonus is only $300 after spending $3,000 in 3 months (link). After receiving the bonus, I didn’t put any spend on the credit card since it only earns 1.5% cash back (I am using my US Bank Smartly Credit Card for 4% cash back everyone).
One of my unofficial New Year’s Resolutions is to reduce the number of credit cards I have (both with annual fees and without annual fees), so this credit card was on the chopping block. I called Bank of America on March 7 and asked to close the card. Without prompting, the rep said there were some retention offers available, including a $50 retention offer if I kept the credit card open. Sure, let’s keep the credit card open and I will gladly accept the $50 retention offer. There is no annual fee on the credit card and there was no spending requirement either. It doesn’t get much easier than that!
A few days later, the $50 retention offer posted to my account. Unfortunately, the retention offer posted in the Available Rewards section and not as a statement credit. I will show you how to find it and how to redeem the rewards for a statement credit or for a check in the mail.
