CHARLOTTE, N.C., Aug 31, 2011 (BUSINESS WIRE) --
Bank of America today announced that it is launching new BankAmericard Cash Rewards(TM) and Cash Rewards for Business MasterCard(R) credit cards that reward customers with up to 3 percent cash back on certain purchases.
In addition, the BankAmericard Cash Rewards card includes a 10 percent bonus when customers deposit their cash rewards into their Bank of America(R) checking or savings account. Both cards have no expiration on rewards.
"Customers have told us they want to get rewarded for what they use their cards for the most, such as gas and groceries, and office supplies for small business customers," said Consumer Banking Products Executive Susan Faulkner. "We have developed a solution that sets us apart from the competitionby giving customers more value in the spending categories that matter most to them."
The new BankAmericard Cash Rewards credit card includes:
- One percent cash back on all purchases.
- Two percent cash back on grocery store purchases.
- Three percent on gas station purchases.
- Customers earn the 2 percent and 3 percent cash back on gas and grocery purchases up to the first $1,500 per quarter. After that, they continue to earn 1 percent on purchases.
The new Cash Rewards for Business MasterCard credit card offers:
- One percent on all purchases.
- Two percent on all restaurant purchases.
- Three percent on office supply store, gas station and computer network service purchases.
- No cap on purchase categories.
"These improvements demonstrate that Bank of America is responding to what our customers want by providing easy-to-use, clear and straightforward solutions that they value," said Laurie Readhead, Retail Banking executive. "This new program gives customers a simple way to earn additional cash back by giving us more of their business."
Information about rates and fees and applications for the new cards are available now on bankofamerica.com and in all Bank of America banking centers nationwide.
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,800 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
SOURCE: Bank of America
Reporters May Contact:
Betty Riess, Bank of America, 1.415.913.4416
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