The MLB Credit Cards issued by Bank of America are a great way for baseball fans to show off their favorite team and colors while earning solid cash back rewards on everyday purchases. New cardholders can take advantage of the signup bonus currently being offered as well as the 0% introductory APR on both purchases and balance transfers. This card is part of the World MasterCard network.
New card members have the opportunity to receive a $100 cash rewards bonus. To qualify, you must spend at least $500 in eligible net purchases within the first 90 days that your account is open. Net purchases are the total of all your transactions minus any credits, returns, or fees. Once you have met the spending threshold, it may take 8-12 weeks for the cash rewards bonus to post to your account. Note: This offer is available to new cardholders only. This is an online-exclusive. All applications for the MLB Credit Cards must be submitted via the internet to qualify for the cash rewards bonus.
The MLB Credit Cards are also currently offering approved new cardholders a 0% introductory APR on purchases and balance transfers for the first 12 billing cycles that your account is open. Balance transfers must be submitted and post to your account within 60 days of when your account is initially activated to qualify for this promotional APR. After this time, your annual percentage rate will vary between 12.99% and 22.99% (based on the Prime Rate) depending on your financial history and credit score at the time of approval.
A balance transfer fee of 3% of the total amount of the transfer or $10 (whichever is greater) is applied to all balance transfers. This fee is not waived during the promotional 0% APR time period.
Members earn rewards at the following rates:
- 3% cash back per dollar spent on qualifying gas purchases
- 2% cash back per dollar spent on qualifying grocery store purchases
- 1% cash back per dollar spent on all other purchases
The gas and grocery bonus categories are limited to the first $1,500 in combined purchases each quarter. Any amount over $1,500 will earn 1% cash back for the remainder of that quarter. Cash back rewards do not expire and there is no limit on the amount of rewards you can accumulate in the program.
All purchases must be submitted with an eligible merchant code to qualify for the double and triple cash back rewards. Most discount warehouse retailers and superstores that sell groceries and/or gas do not qualify for the bonus cash back rewards rate. This list of merchants includes WalMart, Target, Costco, and Sam’s Club. Purchases from these retailers will earn 1% cash back.
Card members have several options when redeeming cash back rewards. These are:
- Statement credit
- Check
- Electronic deposit to a Bank of America checking or savings account
Bank of America customers receive an additional perk when redeeming cash back rewards. Any electronic deposit made to either a Bank of America checking or savings account automatically earns a 10% bonus on the amount deposited. For example, if you redeem $25 in rewards your deposit will actually total $27.50.
Cardholders have access to Bank of America services which can help you stay on top of your finances. Included are:
1) Text Banking- Allows you to send a text requesting account information. A reply comes in seconds.
2) Mobile Banking- Allows you to pay your credit card bill online, check your available credit, and make other transactions securely from most any location.
3) Account Alerts- Allows you to keep track of balances, transactions, and payment due dates. Choose either email or text alerts.
Members are charged a 3% foreign transaction fee for all purchases made on the card while traveling outside of the U.S.
The MLB Credit Cards are chip-enabled for enhanced security and protection.
There is no annual fee for any of the 30 MLB Credit Cards available.
The Facts
Below we have broken down the specific details of the MLB Credit Cards to help you determine if it’s a good option for you.
The Good:
Signup bonus:
New members have the opportunity to earn $100 in cash back rewards. To qualify for this bonus, you must make at least $500 in eligible net purchases within 90 days of your account being open. Net purchases are the total amount of transactions minus any credit, returns, or fees. Once you qualify, it may take 8-12 weeks for the cash back bonus to post to your account. This offer is not available to current cardholders. Important: This is an online-exclusive offer. All applications must be submitted via the internet.
0% introductory APR:
New cardholders receive a 0% introductory APR on both purchases and balance transfers for the first 12 billing cycles of your account. To qualify, balance transfers must be completed and post to your account with the first 60 days that your account is open. A balance transfer fee of 3% of the total amount of the transfer or $10 (whichever is greater) is applied to all balance transfers. This fee is not waived during the promotional period.
Once the 0% introductory APR expires, the APR will be 12.99%- 22.99% (variable based on Prime Rate). Your specific APR is determined at the time of approval and is based on your creditworthiness at that time.
Cash back rewards:
Members earn rewards at the following rates:
- 3% cash back per dollar spent on qualifying gas purchases
- 2% cash back per dollar spent on qualifying grocery store purchases
- 1% cash back per dollar spent on all other purchases
The cash back rewards on gas and grocery items are capped at $1,500 in combined purchases per quarter. Amounts over $1,500 will earn 1% cash back.
Rewards do not expire:
As long as your account is active and in good standing, your rewards do not expire. There is no cap on the amount of cash back you may earn.
Easy redemption process:
Card members have several options when redeeming cash back rewards. These are:
- Statement credit
- Check
- Electronic deposit to a Bank of America checking or savings account
10% rewards bonus:
Bank of America customers receive an additional perk when redeeming cash back rewards. Any electronic deposit made to either a Bank of America checking or savings account automatically earns a 10% bonus on the amount deposited. For example, if you redeem $25 in rewards your deposit will actually total $27.50- a nice way to earn even more cash back.
Additional Bank of America benefits:
Cardholders have access to Bank of America services. Included are:
1) Text Banking- Allows you to send a text requesting account information. A reply comes in seconds.
2) Mobile Banking- Allows you to pay your credit card bill online, check your available credit, and make other transactions securely from most any location.
3) Account Alerts- Allows you to keep track of balances, transactions, and payment due dates. Choose either email or text alerts.
No annual fee:
Members are not charged an annual fee for this card.
The Bad:
Variable APR:
Once the introductory APR ends on purchases and balance transfers, your actual annual percentage rate will vary between 12.99% and 22.99%. Depending on your credit history, you could end up being charged a high APR.
Foreign transaction fees:
Cardholders are charged a 3% foreign transaction fee on all purchases made while traveling abroad.
Not everyone will qualify:
Bank of America acknowledges in the fine print that if you are approved for a credit line of at least $5,000 you will receive a World MasterCard. However, if your credit line is less than $5,000 you will be given a Platinum Plus card which comes with different terms and benefits. Some applicants will not be approved for any card.
The Ugly:
Cap on bonus cash back rewards:
There is a quarterly spending limit of $1,500 in combined grocery and gas purchases. Amounts over this earn 1% cash back.
Merchant code fine print:
To qualify for the 2% and 3% cash back rewards on gas and grocery items, transactions must be submitted using an eligible merchant code. Purchases made at superstores and discount warehouse retailers (WalMart, Target, Costco, Sam’s Club) will not qualify. Purchases from these types of merchants will earn 1% cash back.
Rewards favor Bank of America customers:
The 10% bonus when redeeming rewards is only available to Bank of America customers who deposit their cash back into a B of A checking or savings account. If you don’t bank with Bank of America, you could be missing out on a significant amount of cash back.
MLB fans can choose a credit card which displays their favorite team and colors while earning generous cash back rewards. Additionally, this card offers a 0% introductory APR on both purchases and balance transfers for your first 12 billing cycles which makes it a good choice if you want to move a high-interest credit card balance. (Balance transfers must be completed within 60 days of opening your account to qualify.) Even with the quarterly spending cap of $1,500 on combined gas and grocery purchases, 2% cash back on groceries and 3% cash back on gas are good rates. Just be aware that purchases made at superstores and discount warehouses will only earn 1% cash back. Add in that there’s no annual fee and you have a solid rewards card that baseball fans should enjoy using.