Back to the Future as BankAmericard Launches
By Justin McHenry
Bank of America is resurrecting the name of the original revolving credit card, BankAmericard, and giving it a contemporary spin with some enticing features, including no cap on rewards earnings and no spending limits.
The BankAmericard Rewards Visa will have an interesting rewards formula as well. Similar to tie-ins Bank of America is using on other products, the company will offer greater rewards to cardholders who also have other Bank of America accounts such as checking, savings, CDs, and loans. These multiple account holders will earn 1.25 points per dollar spent and also earn an extra .25 points per dollar on past purchases for each year that they continue to hold multiple accounts. In essence, loyal Bank of America cardholders can earn 1.5 points per dollar, while those holding the BankAmericard without other B of A accounts will get just one point per dollar. Points will be good toward standard rewards of merchandise, gift cards, travel or cash back.
While Bank of America is “re-launching” the BankAmericard, in truth they are simply rebranding to a past name that some may have nostalgia for. Launched originally in 1958, BankAmericard is considered to have been the first revolving credit card. BankAmericard later morphed into the network known today as Visa.
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1.Discover® More Card - 0% APR on balance transfers for 12 months & 6 months on purchases, 5% cashback bonus in popular categories, up to 1% cashback bonus on all other purchases
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2.Chase Freedom Card - 0% Intro APR and no Annual Fee, 5% bonus cash back in popular categories , 1% cash bank on everything else
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3.Citi® Platinum Select® MasterCard® - 0% on purchases & balance transfers for Up to 18 months, APR as low as 9.99% variable. $30 statement credit.
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4.Blue Cash® from American Express - Earn up to 5% cash back on gas, groceries and drug store purchases, and up to 1.5% back on all other purchases, no annual fee, fast approval under 60 seconds
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6.American Express® Gold Card - 10,000 American Express Membership Rewards bonus points when you use the card for at least $500 in purchases within the first 3 months.
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7.TrueEarnings® Business Card from Costco & American Express - 4% cash back for annual gas purchases up to $6,000, 3% restaurants, 2% travel, 1% everywhere else, 0% APR on purchases for first 6 months
