If you’re a Bank of America customer and you’ve got a decent credit score, we’ve got news for you! Bank of America is providing customers with good credit scores some of their finest credit cards.
But, what is it and should you apply? In this article, we will explain what the My New Card offer is, what is the eligibility criteria and if it is beneficial.
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WHAT IS BANK OF AMERICA?
Being the second-largest bank in the United States, Bank of America is an all-inclusive service bank with all sorts of bank accounts, credit cards and even corporeal locations. Hence, Bank of America is far more than just a bank account provider. Whether it is car-loans or investment, Bank of America has everything you need. Below-mentioned are some of the extensive suites of services available at Bank of America;
- Be it purchasing your first house or refinancing, Bank of America’s costs are competitive when it comes to mortgages. For instance, you may get a 4.5% rate (4.717% APR) for 30 years on a $200,000 mortgage in the zip-code of 95464, with a 0.928 point.
- Bank of America’s rates for loans start at an inexpensive 3.24% APR for a 60-month loan.
- With Merrill, Bank of America provides services for investments in retirement, college, and much more. It provides you with access to ETFs, mutual funds, stocks, fixed income and bonds, and even options and margins.
- Bank of America is renowned for its credit cards, providing an extensive suite of business, consumer, travel and cash rewards products.
- Bank of America also provides checking and savings accounts, which comprises of business and student checking, CDs, IRAs and family savings.
LARGEST BANKS IN THE UNITED STATES AS PER ASSETS
| RANKING | BANK | TOTAL ASSETS |
| 1 | JP Morgan Chase & Co. | $2.74 trillion |
| 2 | Bank of America Corp. | $2.38 trillion |
| 3 | Citigroup Inc. | $1.96 trillion |
| 4 | Wells Fargo & Co. | $1.89 trillion |
| 5 | Goldman Sachs Group Inc. | $925.35 billion |
WHAT IS THE BANK OF AMERICA – MY NEW CARD?
As mentioned above, Bank of America provides its dedicated customers with additional benefits, which includes their My New Card offer. What does it take to be their dedicated customer? Well, all you really require is a noteworthy credit score and to be their client – that’s it.
Not only are these credit cards one of the finest you can come across, but they also come with benefits, such as a cashback. The only downside to this is that Bank of America restricts the amount of money that can be spent in each quarter of the year. So, if you’re an exquisite person, this is a minor drawback.
Note: You are required to be at least 18 years of age and a legal resident of the United States of America to be eligible for application.
OTHER BENEFITS OF HAVING BANK OF AMERICA CARDS
With discounts on stock trades, loans, mortgages and even transactions with non-BoA ATMs, the Preferred Rewards Program is the summit of benefits of having a Bank of America card. Although the Preferred Rewards Program commences at $20,000 in a Bank of America account, a balance of over $100,000 is required for the Platinum Honors status.
For further information regarding Bank of America credit cards, visit their website.
