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Overall Rating: |
 (3
out of 5) |
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Benefits Rating: |
(4 out of 5) |
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Credit Needed for Approval: |
Decent credit needed. |
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Efectiva
Visa from Bank of America |
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-- Customers earn 1 point for every $100
spent in net purchases up to $600 a year
-- Customer earns 5 bonus points with the first purchase
-- Customer earns 5 points for every $2,500 in net monthly
balance transfers from non-Bank of America accounts
-- Points don't expire for up to 5 years
-- Accounts must be in good standing in order to receive cash
back |
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Interest Rate |
Intro
Rate |
Grace
Period |
Annual
Fee |
Late
Fee |
Over
Limit Fee |
Credit Needed |
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12.99% |
0% for 6 months |
20 days |
$0 |
$15 |
$35 |
Good |
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EFECTIVA VISA FROM BANK OF AMERICA
The Efectiva Visa Card is for people with good
credit looking to take advantage of cash back reward
program.
Cardholders will earn a 1% cash back rebate on all
purchases made with the card. The yearly maximum rebate
that can be earned is $600. One point will be earned for
every $100 in net monthly purchases, five points for
every $2,500 in net monthly balance transfers from
non-Bank Of American credit card accounts, and five
bonus points for the first purchase. For every
every 25 points that are earned, cardholders have the
option of having a $25 check sent to them or a $25
credit to their Bank of America checking or savings
account.
The Efectiva card has fairly low interest rates for a
reward card. This card offers a six month 0% intro rate
for all purchases, balance transfers and cash advance.
There are no annual fees for being enrolled.
Additional Benefits:
-- Auto rental insurance.
-- Various travel and emergency assistance programs.
-- Purchase replacement for items broken, lost or stolen.
Most Attractive Feature:
-- 0% introductory rate
-- No annual fee
-- Bonus points.
Least Attractive Features:
-- Yearly limit on the amount of points you
can earn.
Important Notations
See website for complete terms and conditions of card
usage and application disclosure.
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