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Credit Card Reviews » Home Advantage™ MasterCard® from Bank of America |
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The reward program that your credit card offers you should provide you with rewards options that really benefit you as an individual. If you're the handy home-improvement type, you should take a look at the Home Advantage® MasterCard® from Bank of America. This credit card, issued by FIA Card Services, N.A., lets you earn rewards on your home improvement projects, and even gives you the opportunity to apply those rewards to the mortgage on your home. This credit card gives you the flexibility to earn your points where you usually shop, and redeem them where it will really count.
This credit card offers you flexible earning potential. You will earn one point for every dollar that you spend on general qualifying purchases, so that you're always earning toward rewards, whatever you're buying. But it also lets you earn double points on all of the purchases that you make with a variety of home improvement stores for your first twelve months of use. These stores include Lowes®, The Home Depot® and Best Buy®, to cover all of your potential home needs.
There is no limit whatsoever on the points that you can earn while using this card, and while your points will expire five years after you earn them, with all of the great redeeming options this card makes available, who would want to hold on to them for that long? You can redeem your points for various travel rewards, gift certificates, merchandise and much more. But you can also redeem your points for payments to your mortgage provider, to help you pay for the home that you're improving. For every 5,000 points that you earn, $50 will be applied toward your mortgage's principal. Repeat payments such as this might seem small, but they can reduce the interest payments that you will make over the lifespan of your loan.
This card has no annual fee, and offers a 0% introductory rate for both balance transfers and cash advance checks during your first twelve billing cycles. Depending upon your personal credit history, this card offers a reasonably low fixed interest rate on purchases.
In addition to these great rates and reward opportunities, this card offers its users a variety of benefits and services. As a cardholder, you will receive online account access, fraud protection, and access to a personal concierge service. There's no card that gets you more out of your home improvement projects.
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0% Intro APR on Balance Transfers for 12 Billing Cycles
9.99% Regular Fixed APR for Purchases
24.99% Regular Fixed APR for Cash Advances |
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20 days Grace Period |
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| (* 0% intro APR for the first 12 billing cycles on balance transfers and cash advance) |
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| Finance Configuration: Average Daily Balance (including new purchases) |
| Additional Cardholders: $0 |
| Late Payment Fee: $15 on balances up to $100; $29 on balances over $100 up to $250; $39 on balances over $250 |
| Over-The-Limit Fee: None |
| Cash Advance Fee: 3%, $10 minimum |
| Balance Transfer Fee: 3%, $10 minimum |
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| Minimum Credit Limit: n/a |
| Maximum Credit Limit: n/a |
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| Type of Reward: Point |
| Points per Dollar: 1.00 |
| Expiration: 5 Years |
| Yearly Limit: None |
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| Additional Features for Home Advantage™ MasterCard® from Bank of America: |
Various Internet account related services.
Personal concierge service.
See website for additional benefits. |
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| Important Notes for Home Advantage™ MasterCard® from Bank of America: |
This card is issued by FIA Card Services, N.A.
The fixed APR for purchases and balance transfers varies according to the applicant's credit history and will be either 9.99% or 15.99%.
See website for complete terms and conditions of card usage and application disclosure.
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| Home » Apply for a Credit Card » Special Interests » Home Improvement Rewards |
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| Notes: The review on Home Advantage™ MasterCard® from Bank of America was updated on March 05, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update.
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