Re: BoA Better Balance Rewards
And actually you can get $120 a year if you have another bank account with them:
"If either the primary or joint applicant for this card has at least one checking, savings or retirement account with Bank of America N.A., a Cash Management Account®, Merrill Edge® or any other account with Merrill Lynch, Pierce, Fenner & Smith Incorporated or U.S. Trust, the card account will receive a customer bonus of $5 for each quarter you qualify, for a total of $30 per quarter."
You could do a BoA savings account for free with a minimum $300 balance. Think of it as a 6.6% return on your $300?
It looks...it looks like you can just open a Merrill Lynch cash management account for $0 with no maintenance fees. And I can't immediately find any info about its getting closed for low-balance or non-activity, though it's certainly possible it's in there. Careful of the $49.50 transfer fee :)
One other thing to watch out for is that the payment has to be more than the minimum. I think with some banks if your total is less than $25 or something, the minimum payment is the total. So if you owe, like, $8, you just need to make sure you pay $8.01.