Tag Archives: Cryptocurrency

Bank of America Changes: Cryptocurrency is Cash Advance, Simplified Foreign Transactions & No Payment Return Envelope

Good morning everyone.  I was reviewing my April Bank of America credit card statements and noticed a few changes to the Credit Card Agreement.  I believe these changes go into effect immediately for all Bank of America credit cards, but check your April credit card statement to be sure.  There are 3 main changes that I will cover in this post.  The first is that cryptocurrency purchases will be treated as a cash advance (like money orders, travelers checks, casino gaming chips, bail bonds, etc.).  I believe many other credit card companies have a similar policy regarding cryptocurrency.  When you make a cash advance transaction, you do not earn any rewards, but instead start accruing interest right away.  The next 2 changes involve foreign transactions and payments.

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