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5 Things to Know About the Susan G. Komen Cash Rewards Visa Card

Sept. 4, 2018
Cash Back Credit Cards, Credit Cards, Rewards Credit Cards
5 Things to Know About the Susan G. Komen Cash Rewards Visa Card
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Anyone with a personal interest in supporting breast cancer research will want to take a close look at the Susan G. Komen® Cash Rewards Visa® credit card from Bank of America.

Cardholders will find ongoing rewards rates in popular, everyday categories including gas, grocery stores and wholesale clubs.

Advocates of breast cancer research who celebrate all that the pink ribbon represents might appreciate the chance to financially support a cause they believe in and carry a card emblazoned with that easily recognizable symbol.

Here’s what to know about the Susan G. Komen® Cash Rewards Visa® credit card from Bank of America.

1. Using the card benefits Susan G. Komen

For each new card that remains open for at least 90 days and is used to make a transaction, Bank of America® gives $3 to Susan G. Komen, a nonprofit that funds breast cancer research. In addition, the organization gets 0.08% of all retail purchases made with the card, plus $3 each time a card in good standing is renewed (as long as it doesn’t have a zero balance).

Bank of America® says it guarantees $3 million to Susan G. Komen through its Pink Ribbon Banking credit card and checking program from June 2015 to December 2020.

2. It’s almost identical to the Bank of America® Cash Rewards credit card

The Susan G. Komen® Cash Rewards Visa® credit card from Bank of America offers a generous sign-up bonus: $200 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening. Its annual fee is $0 and it earns the following rewards:

  • 3% cash back on gas and 2% cash back at grocery stores and wholesale clubs, on up to $2,500 in combined gas/grocery/wholesale club spending per quarter.
  • All other purchases earn 1%.

That makes the card extremely similar to the Bank of America® Cash Rewards credit card, which has the same sign-up bonus, the same $0 annual fee and the same ongoing rewards, rates and cap.

But only the Susan G. Komen® Cash Rewards Visa® credit card from Bank of America comes with the benefits for the Susan G. Komen organization.

3. For baseline rewards, there are better options …

The ongoing rewards rate of the Susan G. Komen® Cash Rewards Visa® credit card from Bank of America is decent if groceries and gas are big expenses. But many consumers would likely earn more rewards with a flat-rate cash-back card that earns a high rewards rate on all spending.

The Citi® Double Cash Card – 18 month BT offer, for example, earns 2% cash back on everything: 1% when you buy and 1% when you pay it off. And there’s no limit on how much you can earn.

4. … Unless you’re a Bank of America® customer

If you do your banking with Bank of America®, the rewards you earn with the Susan G. Komen® Cash Rewards Visa® credit card from Bank of America will be worth more. That’s because you get an additional 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account.

That will boost your effective reward rates in the above categories to 3.3% on gas, 2.2% on groceries and wholesale clubs, and 1.1% on everything else.

But where things really start to get interesting is if you’re a Bank of America® Preferred Rewards customer. Depending on the balance you keep in qualifying Bank of America® accounts, you could get an even bigger bonus of 25% to 75%.

5. The card also has an intro 0% APR period

If you’re looking to transfer a credit card balance, the Susan G. Komen® Cash Rewards Visa® credit card from Bank of America offers the following intro APR: 0% on Purchases for 12 billing cycles and 0% on Balance Transfers for 12 billing cycles for balance transfers made in the first 60 days, and then the ongoing APR of 14.99% - 24.99% Variable APR.

Just be aware that you’ll owe a balance transfer fee of either $10 or 3% of the amount of each transaction, whichever is greater.

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