Richard Gilliland

Bank of America - Money Return Visa

Typically, nobody likes to pay interest on anything. For years, people have been dreaming of a credit card that would return a part of their interest. Finally, their wish has been answered in the form of the Bank of America – Money Return Visa card.

The card by Bank of America - Money Return Visa, issued by FIA Card Services, N.A., is designed to give you unique cash back rewards. In year ending, the Bank of America carries out a calculation of the amount of interest one had paid throughout the last financial year. Thereafter, ten percent of that interest is paid back to the client. Refunds of $2 or more are remitted/mailed via checks and rebates less than $2 are credited to the account. 

The refunds for the preceding year are disbursed in January. Mind it, your accounts must be in good standing if you wish to avail the refund offer. The only concern is that you will have to carry a monthly balance in order to receive any rebates and that can prove a bit costly, especially if you have opted for the highest rate.

If the issue discussed above has become a cause of concern, then stop worrying as the card from Bank of America - Money Return Visa not only offers you money back, but also promises you extremely low APR as introductory benefits for the first six months. It is applicable on purchases, cash advance checks and on balance transfers. Go through the highlights:

§         The introductory rate for Annual Percentage Rate (APR) is 0% for the first 6 billing cycles.

§         After the initial six months you will not be eligible for availing the 0% APR, but Bank of America still pledges a good deal for you via the comparatively low APR of the Money Return Visa card. This APR will still be applicable on purchases, balance transfers and cash advance checks.

§         There is no need to pay any annual fee.

Since the Bank of America - Money Return Visa card is issued by FIA it carries all the benefits of platinum cards that include:

§         Total Security Protection – Protecting you from any deception or any unauthorized use of your card

§         Purchase Replacement – Provides for repair/replacement of your qualified purchases that is somehow stolen, lost or damaged at a known location, within 90 days of your date of purchase

§         Purchase Guard - Doubles the manufacturer’s original U.S. warranty period for your eligible purchases (especially those with a warranty duration extending 1 year or less)

Other benefits include online banking, purchase guard, emergency assistance and car rental insurance.

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