Make 25$ each quarter with Bank of America Better Balance Rewards Credit Card

I saw the card details on Bank of America website about 4 months ago. The offer simply and plainly says that


Earn 25$ per quarter towards your balance when you pay more than the monthly minimum and on time each month...that can be up to $100 each year
If you have bank of america checking or savings account, get 5$ extra each quarter.

I applied for the card about same time (4 months ago) and received it 1-2 weeks time. I keep this card in a safe place at home and not in my wallet. Every month when I get my internet connection bill, I just pay that bill with this card. And every month when the statement is generated, I pay the full amount due, not the minimum payment due.

Just as i suspected, I received 30$ credited in my account this month. With this card, I need not worry about rotating categories for cash back or anything like that. Easy way to make up to 120 $ a year or to get 30$ discount on internet connection every quarter.

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Maximize Your Credit Card Cashback

Credit card companies have become highly competitive in recent years. And the benefit of this competition can easily be taken by the consumers in the form of cash back.

There are many different types of credit cards which provide the cashback and/or reward points to the consumer for simply using the credit card.

If you are not able to pay the entire balance of your credit card every month, (not the minimum payment due but the full balance), you should rather focus on paying more every month. You will make money in range of 1% to 5% of your spending with cashback but you will save money in rage of 8% to 26% or more based on what interest rate your credit card company charges you if you pay the entire balance every month.

I have different kinds of credit card some of which offers 1% and some 5% on various categories. It is very difficult to remember which credit card to use at what merchant location. I did a little hack of creating a cheat-sheet and attached that to my wallet.

See below for my cashback cheatsheet. The number in the bracket is the percent cashback.

Some of the credit card companies have cashback at select department stores, it is better to confirm with customer care. Like American Express has has 3% cashback at super stores but their list does not include Wal-Mart or Target.

I buy groceries from two Indian stores. One of them accepts American Express and AMX has 3% cashback on that grocery store. Another one accepts visa and bank of america has 2% cashback on groceries there.

And there is a catch call which is Capital One which recently upgraded my account to their Quick Silver category of accounts. I now get 1.5 % cashback on all purchases from Capital One.

Since I do not plan to change my cheatsheet every quarter, I also added the categories for chase 5% cashback for each quarter this year.

I simply created this list on MS word. I used the brown color as fill color but the printer in my office printed green. I do not mind that as long as it is a dark color.

I used transparent packing tape to laminate the paper and folded it in half.

Now whenever I have to pull out my credit card to pay for anything, I know which card to use for maximizing the cashback.

Let me know if you like the idea.