New Card Offer: Get $200 Back After Spending $500

While we focus a lot on cards that will allow us to earn miles and points, there is a time for straight cash back cards. In fact, they can even help us with travel as well. Here is a new card offer that will give you $200 back after spending $500.

Get $200 Back After Spending $500

Bank of America has an offer for receiving a $200 bonus after spending $500. It is the MLB card and just in time for the start of the season. This is normally at a $100 bonus so it is a nice boost. Not only that, but it has some nice spending bonus categories and a way you can get an addition 10% back on your cash back.

Card Details:

– Card Application Link

• Receive a $200 bonus after spending $500 in 90 days
• 2% cash back at grocery stores and 3% on gas for the first $1,500 (combined) each quarter
• Cash back redemption starts at $25
• Receive a 10% bonus when you redeem you cash back into a Bank of America savings or checking account

Note: I just selected the Yankee card but you can select any team’s card you want.

Good Deal?

In the past, I used to have as my rule that I would not apply for any card that I could not get at least $400 value from in the bonus. That obviously meant no Walmart card for the free 2 liter! But, with the field changing with Chase and American Express, I am willing to shift my rule a bit.

One of the great things about this bonus is that you spend $500 on something and you get $200 of it back. That and the fact that the minimum spending is very low at the $500 amount are great deals. You could use this for travel as well. For instance, there have been many low fare deals from NYC to Milan for right around $500 roundtrip. If you were to use your new card to purchase one of those tickets, you would end up only paying $300 out of pocket.

If you have a Bank of America savings/checking account, add a 10% bonus on this and other earnings you receive when you transfer the cash back into that account. That turns this bonus into a $220 bonus.

Finally, the fact that it is issued by Bank of America is a great thing to. While not as easy as it used to be, it is still pretty easy to get Bank of America cards – and you do not have to deal with Chase or American Express for this card!

HT: Slickdeals