Susan G. Komen® Credit Card Essentials
You know that cash back credit cards can work for you, but there is the rare card that can both work for you and support a cause you care about.
The Susan G. Komen® Credit Card from Bank of America is one of those cards.
Bank of America, in conjunction with its Pink Ribbon Banking credit card and checking program, has pledged $3 million by 2020 to Susan G. Komen®. As part of that program, for every Susan G. Komen Card that remains open and is used within the first 90 days of account opening, Bank of America donates $3 and $.08 for every dollar spent on the card.
So, now you know how this card benefits an organization you care about; what about how it benefits your wallet?
To start with, you can apply for the card online and earn a $150 cash back bonus after making $500 in purchases within the first 90 days.
Beyond that, the Susan G. Komen Card is a specialty version of the Bank of America® Cash Rewards Credit Card, and its cash-back reward levels are the same:
*After you've reached $2,500 cash back in combined gas, grocery and wholesale club purchases quarterly, all categories will earn 1 percent cash back.
If you find yourself filling your gas tank and your pantry often, this card could really be a boon to your wallet. Bank of America and Merrill Lynch customers can see the rewards add up even more with a 10 percent cash-back bonus for cardholders who redeem rewards into eligible checking or savings accounts. Are you a preferred rewards client? Your cash back bonus could increase anywhere from 25-75 percent.What Our Editors Like Most
This card is obviously one that appeals to the credit card user who wants to show their support for Susan G. Komen, but what's nice about the Susan G. Komen® Credit Card is that you can support an organization you care about with a card that's also smart for your own wallet. And not only smart, but secure. For the ninth year in a row, Bank of America has been recognized for its fraud prevention, detection and resolution with a Best Overall Identity, Safety in Banking Award from Javelin Strategy and Research.
With no categories to keep up with or enrollments to remember, the Susan G. Komen® Credit Card is an easy card to have. Plus, there’s no annual fee and your rewards don’t expire.
The card also affords cardholders options when it comes to redeeming their cash back. As we mentioned earlier, it’s a no-brainer to redeem your rewards into an eligible account – and earn that 10 percent or more bonus – but there's also the option to request a paper check delivered to your mailbox.
Of course, the Susan G. Komen® Credit Card also comes with a number of benefits available to Bank of America customers, such as:
As if all of this wasn't enough, the Susan G. Komen® Credit Card is currently offering an introductory 0-percent APR on purchases for the first 12 billing cycles and a 0-percent introductory APR for 12 billing cycles on balance transfers made within the first 60 days of account opening (then, 13.99% - 23.99% Variable APR on purchases). If you're looking to make a substantial purchase or consolidate your credit card debt, this could be a card worth checking out.
The Susan G. Komen® Card's top rewards categories are gas and groceries – if those aren't your top spending categories, than you won't realize the full potential of this card.
Additionally, even with the 0 percent APR for 12 billing cycles on balance transfers (before 13.99% - 23.99% Variable APR on balance transfers), there is a balance transfer fee to figure in: $10 or 3 percent for every transfer, whichever is greater. If you anticipate needing to make several balance transfers, there are cards that offer introductory periods without transfer fees.
How Susan G. Komen® Credit Card Compares to Other Cash Back Cards
The Blue Cash Everyday® Card from American Express also offers tiered rewards categories that do not rotate. They are slightly different from those offered by the Susan G. Komen® Credit Card, however – 3 percent at U.S. supermarkets (on up to $6,000 spent annually, then 1 percent), 2 percent at U.S. gas stations and select U.S. department stores and 1 percent for other purchases – so it's possible the Amex categories fit better into your everyday spending.
The Discover it® - 18 Month Balance Transfer Offercard could bring in substantially more cash back if you take full advantage of Discover’s introductory offer to automatically match all cash back new cardholders have earned at the end of their first year.
Don't get so caught up in the initial offer, however, that you forget you'll be facing a rotating categories cash-back situation with the Discover it® card. If you aren't up for keeping up with rotating categories, the Susan G. Komen® Credit Card could be a better choice for you.
Susan G. Komen® Credit Card vs. Fidelity® Rewards Visa Signature® Card.
The Fidelity® Rewards Visa Signature® Card, like the Susan G. Komen® Credit Card, offers a non-rotating rewards structure in a card without an annual fee. With the Fidelity® Rewards Visa Signature® Card, you can earn 2 percent cash back on every purchase, which means this could be a better fit for cardholders who don't spend a lot in the gas category that earns the most with the Susan G. Komen® Credit Card.
On the other hand, the Fidelity® Rewards Visa Signature® Card only allows you to redeem your rewards into a Fidelity account like a 529 or 401K or through the WorldPoints program.Who Should get This Card?
The Susan G. Komen® Credit Card could be just right for the person who likes to feel good about their credit card spending; in this case, your purchases directly benefit Susan G. Komen® and earn you cash back in popular everyday categories.
This is also a card worth considering if you're already a Bank of America or Merrill Lynch customer and can cash in on those bonuses for redeeming your rewards into an eligible account.