Home Advantage™ MasterCard® from Bank of America

The following Home Advantage™ MasterCard® from Bank of Americais brought to you by Bank of America and CreditCardAssist.com. Earn money toward your mortgage payments when you use your credit card.

Home Advantage™ MasterCard® from Bank of America

0% Intro Annual Percentage Rate (APR) on Balance Transfers and Cash Advance Checks Through Your First Twelve Billing Cycles*
Earn 1 Point For Every $1 in Net Retail Purchases at All Merchants*
Redeem Your Points for Cash Back, Travel With no Blackout Dates, Car Rental and Hotel Rewards, Brand Name Merchandise, or Gift Certificates*
Redeem Your Points as Extra Payments- Every Time You Earn 5,000 Points, You Can Redeem Them for Cash - Which Can be Applied Directly to Your Mortgage*
No Limit to The Number of Points You Can Earn Each Year*
Absolute Fraud Protection Against Unauthorized Use, Online and Offline*
Access to The MyConcierge(SM) Service, a Unique Personal Assistance Service*
Secure Online Account Access and Electronic Bill Payment Service*

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0% on Balance Transfers*	12 Billing Cycles*	9.99% / 15.99%*	None*	Yes*	Excellent Credit*

Editor's Review: The Home Advantage™ MasterCard® from Bank of America is a credit card with a really unique rewards program. Although there are a range of different rewards that can be obtained through the reward program, the outstanding feature of the card is that it allows points to be accumulated towards payments on the credit card holder’s home mortgage loan. This means that the credit card is specifically suited to home owners who are interested in paying down on their mortgage through a point-based system of credit card rewards. With no annual fee and a zero percent introductory interest rate on both cash advances and balance transfers, this is considered to be a solid card by most standards. However, it requires that the applicant have excellent credit in order to get the best overall interest rate on the card.

The main reason that someone is going to want the Home Advantage™ MasterCard® is because of the unique rewards program that it offers. It allows for points to be accumulated towards the payment of your home mortgage; for every 5000 points, a $50 check will be sent to your mortgage lender. In a time when many people are struggling to make payments on their home mortgages, this can be a really beneficial rewards program for the average home owner. Points are accumulated primarily on a 1% cash back plan. However, there are some purchases which receive double points in the first year of the card such as those purchases made at home improvement stores. This allows the card holder to make improvements to the home while still managing to pay the mortgage each month.

There is a zero percent introductory interest rate on the Home Advantage™ MasterCard® from Bank of America for the first twelve billing cycles. This rate applies to cash advances as well as to balance transfers. This is a great opportunity for home owners with other outstanding bills to pay off those bills with a zero percent APR for twelve months. This can offer a fresh slate to home owners who have been struggling to make all of their various monthly payments including their home mortgage. The ongoing interest rate on purchases on this card will vary and depends on the credit history of the card applicant. So, this is a solid card offer for the applicant with excellent credit who will need to carry a revolving balance on the card and wants to earn rewards points for purchases made throughout the year. While the card is ideal for home owners who want to use the points that they earn to pay down their home mortgage, it is also possible to gain other rewards through the use of this card as well.

(Review Date: July 24, 2008)


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