My Blog, Your Money

Whoa, Bank of America still matches up to $250 with its Keep the Change program.  That’s potentially $250 in free money for just using their check card to make purchases.  I thought it was a promotion that expired a long time ago, but it looks like it’s here to stay.  Now, I’m not a really big fan of Bank of America due to bad personal experiences, but this may sway me to sign up.  I’ll have to think about my spending habits to see if it’s worth it.

To maximize what I earn on my cards, I’d have to perform some simple calculations each time I purchased something to see if I would make more money using my credit card’s cash back rewards or the Keep the Change program matching.  For example, if I bought a sandwich which costs $7.05, the change would come out to 95 cents and I would earn that amount on the transaction.  My credit card would probably give me 1% so that would be about 7 cents, 88 cents less.  However, if I were to buy a new monitor and its total price is $500.01, Keep the Change would give me 0.99 whereas I would get $5 with my credit card.  Just something to keep in mind if you were thinking about signing up, have a rewards credit card, and want to maximize your benefits.