Credit Card Deals (U.S.)

The Importance of Wealth Consciousness

Now, obviously we can go overboard when we talk about positive thinking and wealth consciousness -- building up great wealth requires a bit more than "magical thinking" and positive thoughts, to be sure.

But I do honestly believe that wealth consciousness is a vital aspect of becoming rich, whether in the stock market, through your small business venture, or via any other means. 

Are Bank of America Credit Cards Good?

I'm not a fan of Bank of America overall, but they have two things I like:

1. A good mobile version of their web site. I have never had problems transferring money from my Bank of America checking account to a Bank of America credit card. The transaction posts promptly when I schedule it and their bill pay/transfer money tool could not be easier to use!

2. The lowest rate credit cards I personally have. Obviously, your experience may vary, but I have 2 Bank of America credit cards -- the 0% intro promotional APR on both cards expired long ago, but the REGULAR, non-promotional APR on each cards is insanely low: 3.24% APR on one, 6.24% APR on the other. One is a Bank of America Visa Signature Card, the other is a Bank of America MasterCard. Both cards have decent credit lines: $7,000 for the Visa, $4,000 for the MasterCard. (My Citi MasterCard has a higher credit limit, but that one has been open for much longer.)

Also, Bank of America's cards -- at least some of them -- participate in the WorldPoints rewards program where you can cash in your points for a number of cool rewards, or for a check. I have never had problems requesting the cash back check through WorldPoints, and it always arrives in my mailbox promptly.

Compare this with my American Express Clear credit card, which has a regular APR of 14.99% and gives you a $25 gift card for every $2,500 in eligible purchases you make... I have spent over $2,500 on the card, but am still waiting for my $25 gift card, more than a month later!

So it's something to keep in mind. Bank of America isn't all evil or bad. Some of their credit cards are very competitive and offer excellent rates.