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bank of america upromise credit card

Bank of America - credit card pushers

Bank of America is put under the microscope for possible unethical business practices.

3 Financial Products I Couldn't Live Without

1. My cash-back card, which deposits into my investment account

In July 2016, my favorite credit card got even better. For years, I used an American Express Fidelity Rewards Card. I loved the card because I earned 2% cash back on all purchases, but I was also forced to carry two cards in my wallet, as many retailers don't accept American Express.

In July, Fidelity transitioned my favorite card to a Visa Signature Card , which I'm now convinced is the best possible option for cash-back cards. Not only is the card accepted everywhere that Visa is accepted, but the card also continues to pay a generous 2% on every purchase with no limits.

The card has no annual fee; it works with Apple Pay, Samsung Pay, and Android Pay; and it offers some travel discounts. The best part about the card, though, is that when I earn rewards, they are transferred automatically into my Fidelity account. The card provides a choice of depositing rewards into a basic brokerage account, a 529 college savings plan, a Fidelity Cash Management account, a retirement account, or a charitable giving account.

7 Creative Ways You Can Save for Your Children's Tuition

Hopefully, you’re keeping all of your New Year’s resolutions. If one of your goals happens to be saving for your kids’ college tuition, check out these tips for working it into your budget.  

Let Grandparents Buy Toys for Holidays and Other Occasions

A lot of parents want their parents (the children’s grandparents) to contribute to the kids’ college savings accounts. While many grandparents can and will, it’s a hard thing to ask for, and your parents may want to buy the kids toys instead. Ask your parents what they’re getting your children for holidays and other occasions. If they happen to get your kids the toy they want, you can deposit the money you were going to spend on that toy into their college savings account instead. The bonus? If your state has an income tax deduction for college savings contributions, you’ll be able to claim it. After all, there isn’t an income tax benefit for giving your child a toy.

UPromise Bank of America Credit Card?

So I applied for one because I paid off my credit debt on credit card that has no rewards or anything.

Generally speaking, yes, that does mean that an aspect of your application raised flags and review is neccessary. From my experience, it is uncommon to apply for a credit card from BOA, receive that message, and later, become approved.