This Visa Card $100 Cash offer for opening a Bank of America Cash Rewards account sounds too good to be true. Yes, Visa will give you 100 dollars cash if you make $500 worth of purchases within 90 days of getting the credit card.
Bank of America has evidently done a statistical analysis and found that most people will not be able to pay down their statement balance every month. This will result in interest payments that will easily offset the $100 they gave you to make $500 worth of charges in 90 days.
So in as little as 60 seconds your online application for the Cash Rewards credit card can be approved AND 90 days later 100 dollars will be added to your cash back balance provided you have charged $500 in qualifying purchases in that period.
Just remember BOA is hedging that you will be running up much higher balances and incurring additional interest and late fees which will make the $100 they gave you to join a stroke of genius on their part. Also all introductory credit card offers are carefully thought out and designed to MAKE MONEY FOR THE CREDIT CARD COMPANY not TO BENEFIT THE CONSUMER.