|
The Bank of America MilesEdge Card was last reviewed on 8th March 2007
Summary - The Bank of America MilesEdge® Card is a general reward program card which lets cardholders earn 1 point for every dollar spent on net purchases. The Miles Edge® Reward Program is quite comprehensive. It offers extensive airline rewards (no blackout dates), rewards for theme park and attractions, merchant certificates (including hotels and car rentals), clothing and accessories, electronics and sports and outdoors. Let is look at this card in greater detail.
Reward Formula - The Bank of America Miles Edge® card lets you earn one point for every dollar you spend on the card. These points can be exchanged for travel, merchandise or gift certificate rewards. They include airline tickets and hotel stays, tickets for theme parks and attractions, various merchandise and gift certificate. Points are valid for 5 years and you can earn up to 75,000 points in one calendar year.
Annual Fee and APR - The Bank of America Miles Edge® Card has a reasonable annual fee at $19.00. The APR is Prime Rate plus 4.99%. There is also a 0% introductory APR for both purchase and balance transfers for six billing cycles. The average daily balance method (including new purchase) method is used to calculate monthly balance.
Verdict - The Bank of America Miles Edge® Card is an all-round reward program credit card with a variety of rewards for cardholders to choose from. The only issue I have is the annual fee (which is low) as most reward credit cards do not charge any annual fee these day..
Positives
Reward program has a variety of travel awards, merchandise and gift certificates0% APR for first six billing cycles
Negatives
Annual Fee
| Bank of America Miles Edge® Card |
| Reward
Program Details |
| Bonus Miles |
1000 upon first use |
| Points per Dollar in net purchases |
1 point |
| Caps on Rewards |
75,000 points per calendar year |
| Miles Expiration |
Up to 5 years (points expire on the last day of your Billing Cycle that closes in December of the fourth calendar year in which they were earned). |
| Cost/Fees/Interest
rates |
| (APR) Purchase |
Intro Rate - 0% for six billing cycles. Goto rate is a variable risk based rate at Prime + 4.99% |
| (APR) Balance Transfer APR |
Intro Rate - 0% for six billing cycles. Goto rate is a variable risk based rate at Prime + 4.99% |
| Finance Configuration |
Average Daily Balance (including new purchases) |
| Annual Fees |
$19 |
| Additional Cardholders |
$0 |
| Grace Period |
20 days (Min) |
| Minimum Credit Limit |
$500 |
| Late Payment fee |
Based on Account balance on the fee assessment date - $15 for balances less than or equal to $100, $29 for balances $100.01 to $250, $39 for balances greater than $250. |
| Over-the-limit fee |
Based on the highest Account balance during the Billing Cycle - $15 for balances less than or equal to $500, $29 for balances $500.01 to $1000, $39 for balances greater than $1000. |
| Cash Advance fee |
3% min $10.00 |
| Balance Transfer fee |
None when Balance Transfer is requested at time of application; thereafter, 3% of each advance (min. $10) |
Apply for the Bank of America Miles Edge® Card
|
