For me, my focus is working within the BofA system first. But if someone already has multiple credit cards and more money to put in both, why not, since the card offers something unique.
I’m still trying to get it but will likely maintain it at 2% for a while.
This card is definitely not for everyone, but the math could work for certain people. However, the lower tiers usually are not worth it with that annual fee.
Does US Bank have 529 accounts and would those count towards the requirements?
I agree with your thoughts, the person who posted this. Plus, I can’t buy and sell bonds (corporate or municipal) on their website. You have to call and pay the trading fee.
Other points that make me think twice:
I have the AOD 3% cashback card for all my non-category spending up to $1500 monthly.
My roughly $65k sitting in just savings is with Marcus earning 5.2% along with a 1% bonus and 0.1% increase from AARP. So moving $50k of that for a 3.8% rate isn’t worth it. (Plan A would be savings plus moving a Roth over for the 4%).
I really like my 5% Citi Custom Cash cards, all three of them. I enjoy using my Discover cards with 10% cashback for the first year on selected categories. I’m a fan of the 5% Penfed card for gas and the AAA cards getting 5% at Walmart in-store and 5% at grocery stores with 3% for warehouse clubs and pharmacies.
My main motivation would be to simplify my finances, but I fear US Bank might cap this card.
The Alliant 2.5% visa signature seems way better to me, way fewer hoops, plus you only need to have $1k with them.