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  #1  
June 10th, 2016, 11:44 AM
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Types of Credit Cards Bank of America offers

Can you tell me about the different types of Credit Cards offered by Bank of America? Also tell me about the fee and features of Credit Cards offered by Bank of America?
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  #2  
June 10th, 2016, 12:01 PM
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Join Date: Mar 2012
Re: Types of Credit Cards Bank of America offers

Bank of America credit cards are some of the most wide-ranging in the U.S., and they offer a variety of rewards and perks such as cash back, points and travel rewards.

The different types of Credit Cards:

• Secured credit cards often require a security deposit that becomes the credit limit for the account. It can be used just like any other credit card, and can help build credit because payment history is reported to the major credit bureaus.
• Rewards credit cards offer rewards based on the amount of purchases. Rewards can include cash, travel and gift cards. Some offer a combination of these. Standard, premium and even private label cards may also offer rewards.
• Private label credit cards can offer special deals but can only be used at one or a few stores
• Standard credit cards typically have lower credit limits, fewer benefits than premium cards and are designed to provide basic credit card services
• Premium credit cards, such as platinum cards, offer higher credit limits and usually have extra features, including product warranties, purchase protection, travel insurance and emergency services
• Affinity credit cards show support for a group or cause such as a charity, a college or a sports team. In some cases, contributions are made to the group when use the card.

Credit Card Rates, Fees and Features:

• Annual fees are included with some cards, so make sure understand this when compare benefits
• Additional fees and penalties, including transaction fees and late fees. Being aware of the service costs for certain types of transactions, and what happens if pay late or miss a payment, will help avoid these fees.
• Security features like fraud protection are available on some cards. Read the details of card agreement to learn the rules and determine if liable for fraudulent purchases.
• The annual percentage rate (APR) is different for purchases and other types of transactions. It is important to note the APR for the types of transactions making with card. The APR for purchases determines the cost associated with not paying balance in full each month. If one make cash transactions, such as balance transfers or ATM withdrawals, there are costs associated with these transactions whether or not pay balance in full each month.
• Rewards, discounts, warranties and rebates can be deciding factors in choosing a card. Make sure you understand any limitations associated with the stores or products included in these offers, or restrictions related to how rewards can be redeemed.


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