Category Apartment Communities

Bank of America Customized Cash Rewards Secured Card – 3/2/1% Cashback & No Annual Fee

Bank of America’s Cash Rewards card, now called Customized Cash Rewards, has no annual fee and offers 1% cash back on all purchases; 2% or 3% on select categories. It’s notable that there’s also a Secured version of the card which is very similar to the ordinary version and is one of the best secured cards available.

Bank of America Customized Cash Rewards Secured Card

Card Details

  • No annual fee
  • A minimum refundable security deposit of $300 (maximum of $4,900) is required to open this account.
    • Your maximum credit limit will be determined by the amount of the security deposit you provide, your income and your ability to pay the credit line established. If you provide a deposit that exceeds the calculated maximum amount based on your ability to pay, a check will be returned to you for the difference.
  • 3% foreign transaction fee
  • Rewards earnings rates go as follows:
    • 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings
    • 2% cash back at grocery stores and wholesale clubs
    • 1% cash back on all other purchases
  • You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1% with no limit. Each month, as you plan for future purchases, to change your 3% choice category you must go to Online Banking or use the Mobile Banking App. Rewards do not expire.
  • Cash rewards can be redeemed as a statement credit to your credit or a deposit to your Bank of America checking, savings, or Merrill investing account.
  • 23.99% APR
  • No signup bonus on the Secured card version

Our Verdict

Not many Secured cards come with no annual fee and still offer rewards. There are a few other option that offer the same, though the Bank of America Customized Cash Rewards card is from a major bank and could be helpful in establishing a relationship with the bank. Bank of America also offers a Secured version of their Unlimited Cash Rewards card, so be sure to compare which is best for you. The Discover secured card is another good option for a secured card. All of these are solid options for someone who is struggling to get a credit card and wants to build a credit history.

Hat tip to reader Cyan

Source: doctorofcredit.com

American Express Blue Business Cash/Blue Business Plus $250/15,000 Membership Rewards

American Express is offering sign up bonuses on the Blue Business Cash & Blue Business Plus cards. The bonuses are as follows:

  • Blue Business Cash $250 bonus after $3,000 in spend within the first three months
  • Blue Business Plus 15,000 Membership Rewards points after $3,000 in spend within the first three months

We’ve seen a bonus of Blue Business Cash card of $500. Blue Business Plus has been as high of 40,000/50,000 points in the past as well.

Source: doctorofcredit.com

American Express Claws Back $200 Fine Hotel & Resorts Credit When Rebooked (Booked Before Benefit Added)

American Express recently introduced a $200 hotel credit that can be used select prepaid bookings (Fine Hotels + Resorts® and The Hotel Collection) when using American Express Travel. Reddit user u/JimmyGodoppolo had an existing booking that was made before the benefit was added, there was no cancellation fee so they cancelled and rebooked. The $200 credit posted and then was clawed back, when contacting American Express they said this was done as the original booking was made before the benefit was added.

Seems ridiculous, shouldn’t matter when the original booking was made as the rebooking still met the terms of the $200 credit. Counter datapoint here.

Source: doctorofcredit.com

Chase Adds Terms Allowing Ability To Check Checking/Deposit/Investment & Utility Accounts For Card Approvals

Chase has added new terms regarding information they are allowed to access, it states (emphasis ours):

We may obtain and use information about your accounts with us and others such as Checking, Deposit, Investment, and Utility accounts from credit bureaus and other entities. You also authorize us to obtain credit bureau reports and any other information about you in connection with: 1) extensions of credit on your account; 2) the administration, review or collection of your account; and 3) offering you enhanced or additional products and services. If you ask, we will tell you the name and address of the credit bureau from which we obtained a report about you.

This is likely due to Project REACh, or the Roundtable for Economic Access and Change which aims to consumers with no credit score access to credit cards. Some large financial institutions (JPMorgan Chase, Wells Fargo, U.S. Bank) have agreed to share information.

Hat tip to Proud Money

Source: doctorofcredit.com

Citi Now Allowing Product Changes to the new Citi Custom Cash Card (Preferred, Dividend, Expedia, Etc.)

(Reposting with some additional info based on the comments.)

People are now successfully product changing their Citi cards to become the new Custom Cash card. Readers in the comments report being able to product change their Expedia, Rewards+, Drivers Edge Charter, Diamond Preferred, Premier, Prestige, Preferred, AT&T, Dividend, and American Airlines AAdvantage cards to become a Custom Cash card.

Double Cash cards can not yet be product changed to Custom Cash, though you can try changing it over to a Rewards+ and from there to change it to a Custom Cash. Some people heard from reps that Double Cash will be able to be converted directly to Custom Cash beginning August 1, 2021. Citi Simplicity is a mixed bag with some having success product changing and others being told the August 1st date for doing that product change.

The big question remains whether your card number will change when you product change to the Custom Cash, which might depend on which card you are changing. This matters because, officially, whenever the card number changes it would be considered a ‘card closed’ to reset your 24/48 month clock, whereas if the card number remains the same it won’t reset the clock. You can search the comments below for data points on when the card number will change from a particular card, or you can ask the Citi rep and hope for the best. I’d guess that product changes from cobrands (e.g. AA to Custom Cash) will get a new card number, but product changes from within the ThankYou family (e.g. Preferred to Custom Cash) might keep the same number.

The Custom Cash card uses the ThankYou points system and allows points to also be cashed out at 1 cent per point. The card launched in June and initially was not accepting product changes, but today they began allowing them. When you product change to the card you won’t get the signup bonus, but some people prefer doing it anyone to avoid signing up for a new card. Reports are that the product change can even be done via chat.

Source: doctorofcredit.com

Bank of America to launch Business Advantage Unlimited Cash Rewards Card in October

Alongside their personal Unlimited Cash Rewards card, Bank of America plans to launch a similar business card in October called the Business Advantage Unlimited Cash Rewards. The bank describes it in their press release with similar details as the personal version, with no annual fee and the same 1.5% cash back on all purchases.

Like the personal version, the business card will also have increased earnings rate of 25 – 75% for Business Preferred Rewards clients which can bring up the overall earnings rates to as high as 2.62% on all purchases. Hopefully it’ll come with a signup bonus as well, as does the personal card.

Source: doctorofcredit.com

Move over Sapphire: Why I prefer Membership Rewards instead of Ultimate Rewards – The Points Guy


Move over Sapphire: Why I prefer Membership Rewards instead of Ultimate Rewards


Advertiser Disclosure


Many of the credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers. Please view our advertising policy page for more information.

Editorial Note: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Source: thepointsguy.com

The secret to getting the discontinued Ritz-Carlton credit card — and 4 reasons you need it – The Points Guy


How to get the discontinued Ritz-Carlton credit card — and why you need it – The Points Guy


Advertiser Disclosure


Many of the credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers. Please view our advertising policy page for more information.

Editorial Note: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Source: thepointsguy.com

[Update] Citi Virtual Account Number (VAN) Changes

Update 7/20/21: Some additional information regarding the VAN changes. Hat tip to reader Daniel P

Update: In the FAQ they indicate that there’ll be a new, improved system rolling out in early summer 2021. Hat tip to reader diggs

Original Post:

In recent times Citi has made a number of changes to creating a Virtual Account Number (VAN), Citi update the card generation page to no longer use flash and also removed and then readded the feature for American Airline cardholders. Currently at the moment it’s only possible to generate a VAN with an end date of 7/21 or 8/21. At first it seemed like this was just part of the service as it was some period in advance, but as we continue to approach this date it’s unclear if Citi plans to discontinued the service at the end of August or make significant changes to VANs. We’ve reached out to Citi for comment but are yet to hear back.

Hat tip to reader Matt I

Source: doctorofcredit.com