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MilesEdge® Card

• Whether you are a frequent flier or a leisure traveler - the MilesEdge card is for you.
• 0% Intro Annual Percentage Rate (APR)† on purchases and balance transfers for the first 6 billing cycles.
• Earn 1 point for every $1 in purchases
• Earn points toward worldwide travel and related rewards beginning at 10,000 points - airline travel w/ no blackout dates, admission to theme parks and attractions, hotel stays, car rental, retail, dining and entertainment certificates and more
• Receive 1,000 bonus points after your first purchase
• Card issued by FIA Card Services, N.A.

Just The Facts –

Issuer : F.I.A. Card Services N.A. (Bank of America)

APR :  0% Introductory APR on purchases, balance transfers, and cash advance checks for your first 6 billing cycles

Introductory Period : 6 billing cycles (6 months)

APR After Introductory Period : 4.99% plus prime rate

Cash Advance Rate : 9.9% variable rate on cash advances

Annual Fee : $19

Credit Line Possible : The maximum is dependent on your credit rating and personal wealth. The minimum credit line offered is $500.

Insurance included :  The Miles Edge Card from the Bank of America includes extended car rental and warranty coverage on services and purchases for up to a year.

Financing Configuration – Interest is calculated on your average daily balance (including new purchases).

Grace Period – You have twenty days after making a purchase during which you do not have to pay interest on your Miles Edge Card From Bank Of America

The Best Thing About It —Earn points toward worldwide travel and related rewards beginning at 10,000 points. There are also no blackout dates. The deal also includes admission to theme parks and attractions, hotel stays, car rental, retail, dining and entertainment certificates and more.

The Worst Thing About It – There is a yearly limit on points.

Credit Rating Needed For Acceptance : Good.

Who Is It For?

The Miles Edge card is multi tasking rewards card that is accessible to individuals with less than excellent credit who are looking for airline rewards program.

 

The Benefits

You are gifted with 1000 free points on your first purchase. Points can be redeemed for travel, theme park admissions, certificates to major hotel chains, brand-name merchandise, and more

Additional Miles Edge credit cards are free.  There is no fee for issuing duplicate cards.

Keep track of all of your credit card transactions online. You are also able to monitor what goes on in your account with full access to an online account report, which is one of the Miles Edge credit card’s Signature Benefits.

The card comes with the Bank of America’s Purchase Replacement program. This feature provides for repair or replacement for covered purchases that are stolen, damaged or lost at a known location, within 90 days of the date of purchase.

The card comes with the Bank of America’s Purchase Guard. This feature may double the manufacturer’s original U.S. warranty period for covered purchases with a warranty duration of 1 year or less.

Cash advance checks are issued at no extra charge. This allows you to get a cash advance without paying an ATM fee.

Zero Liability.  If you claim someone has stolen your card then you do not have to be liable for the usual $50 that is typically deducted as fraud liability.

 

The Drawbacks

 

The Miles Edge Card From Bank Of America points expire after four years. Points expire on the last day of the Billing Cycle that closes in December of the fourth calendar year following the year in which they were earned.

The Miles Edge Card From Bank Of America points have an annual cap. There is a limit of 75,000 points that can be earned per year.

A short grace period. Many credit cards don’t begin to garner interest on purchases until thirty days after purchase. The Miles Edge card only gives you twenty days.

The 2.99 % introductory rate is not guaranteed. If you make a late payment on any bill, not just your credit card bill, your introductory 0% rate can be replaced with the costly prime rate.

There are lots of hidden fees.  See the Fees to Watch Out For section below.  The fees charged for your every little financial transaction can really add up and make it seem like you are paying an annual fee anyway.

Fees To Watch Out For

Late payment fee:  $15 on balances up to $100; $29 on balances over $100 up to $250; $39 on balances over $250

Over The Limit fee: $15 on balances up to $500; $29 on balances over $500 up to $1,000; $39 on balances over $1,000

Cash advance Fee: 3%, $5 minimum ($50 maximum for convenience checks)

Balance Transfers: No fees on balance transfers requested during application; 3%, $10 minimum thereafter

To Summarize –

The interest rate for purchases and balance transfers that the Miles Edge Card From Bank Of America offers is reasonable for a reward card (for those who qualify), although not ideal for those who plan to carry a balance. There is a 0% introductory rate that applies to purchases, balance transfers, and cash advance checks for the first six billing cycles, and the annual fee is lower than offered by similar cards.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0%	6 months	P + 4.99%	$19	Yes	Good Credit