Susan G. Komen® Cash Rewards Visa® credit card from Bank of America
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Editor’s note: Some of the offers below may have expired. Bank of America rates updated July 31, 2018.
In other branding efforts, like the MLB Cash Rewards Mastercard from Bank of America, Bank of America slaps a different logo on the front of its Bank of America Cash Rewards cards and calls it a day. Everything else about the two cards is identical.
The Susan G. Komen Cash Rewards Visa credit card, also known as the Pink Ribbon BankAmericard Cash Rewards credit card, is a bit different. On top of the standard rewards the Cash Rewards banner comes with, the issuer also pledges to make a donation to the breast cancer research and charity foundation Susan G. Komen.
But unless you plan on making a pricey purchase within the first 90 days, you’re probably better off making a tax-deductible donation on your own. For example, if you make a $10,000 purchase with this card, the issuer will make a 0.08% donation, or $80.
This card’s most direct competition is the Blue Cash Everyday from American Express, another card that doesn’t charge an annual fee. Both cards offer extra rewards on gas and supermarket spending.
The Komen card offers 3% cash-back on gas purchases and 2% at grocery stores and wholesale clubs up to $2,500 in combined spending per quarter. You’ll earn 1% on all other purchases. The AmEx card pays 3% at U.S. supermarkets on up to $6,000 in spending per year (then 1%), 2% at U.S. gas stations and select U.S. department stores and 1% on all other purchases.
If you purchase much of your household’s groceries, there’s a better card for you.
We do like that this card comes with a potential for extra rewards for Bank of America deposit account customers, but the 10% bonus probably isn’t enough to offset a card that offers a 2% flat rewards rate.
You’ll also earn $200 in online cash rewards after you make just $500 in purchases during the first 90 days of account opening. That spending requirement is fairly low – even for a rewards card that carries no annual fee.
Who should get this card
This card is good for someone who wants an easy-to-follow cash-back card that rewards them for typical household spending. There are no rotating categories to keep track of and if you have a bank account and/or brokerage account with Bank of America or Merrill Lynch, the rewards value starts to exponentially increase.
This card may also be good for anyone looking to make a big purchase and wants the flexibility to pay it off over time as it comes with an introductory 0% APR offer on purchases and balance transfers for the first 12 billing cycles (for balance transfers made in the first 60 days). After that, a variable APR of 14.99% to 24.99% will apply. Those with a philanthropic spirit also will enjoy that a percentage of that purchase — if made during the first 90 days of account opening — will go to Susan B. Komen.
Fees and APR
- Enjoy a 0% APR introductory period for the first 12 billing cycles for purchases and any balance transfers made within 60 days of account opening. Following the introductory period a standard variable APR of 14.99% to 24.99% will apply.
- You’ll pay no annual fee
- There is a balance transfer fee of either $10 or 3% of the amount being transferred, whichever is greater.
- After one late payment, a penalty APR may apply indefinitely and there’s a late payment fee of up to $38.
- There’s a foreign transaction fee of 3% on all purchases made outside the U.S.
Extras, perks and using rewards
Cash-back rewards can be redeemed at any time in any amount as either a statement credit, deposited to your Bank of America bank account, or used to buy gift cards through Bank of America’s online shopping portal.
Bank of America clients receive a 10% bonus for depositing the cash-back rewards into their bank account. Preferred Rewards clients can get an even bigger bonus — ranging from 25% to 75% depending on your Preferred Rewards status.
You have to maintain a combined balance of at least $20,000 with either Bank of America, Merrill Lynch or Merrill Edge to get these increased rewards, but if you do, the cash-back rewards go from good to outstanding.
For example, if you have the highest status of Platinum Honors with Bank of America, which comes with a hefty $100,000 minimum account balance requirement, you can earn a bonus on your cash-back rewards of up 75%.
How this card compares
The Chase Freedom Unlimited is a solid, straightforward cash-back rewards card that’s ideal for cardholders who just don’t have the time or energy to track spending categories. It ranks among the very best cash-back credit cards we track.
There are other cards that offer better rewards, but the Chase Freedom Unlimited’s 1.5% cash-back on everything is an excellent reward coming from a no-annual-fee credit card.
If you also hold a premium travel rewards card from Chase like the Sapphire Preferred or Sapphire Reserve, you can transfer your rewards from the Freedom Unlimited to one of the premium cards to redeem for travel at an increased value.
The Capital One Quicksilver Cash Rewards Credit Card is simple. And that’s a good thing.
The card’s rewards program is structured so you don’t have to think about whether this is the month that gas station spending pays more or that it’s time to take advantage of warehouse club spending. There’s also no annual fee, so you don’t have to do the math about how much you’ll have to spend to make the card worth it.
When it comes to rewards value, the Citi Double Cash Card ranks among the very best cash-back credit cards that charge no annual fee.
Longer-term, the Citi Double Cash Card may earn you more rewards. Earn an unlimited 1% cash back when you make a purchase and another 1% back when you pay for those purchases.