Review: BofA’s MLB BankAmericard Cash Rewards Card

The MLB World Series pits the Royals against the Giants, and baseball enthusiasts are rooting for their favorite to take home the championship (or at least rooting against the team that took their team out of the running). Fans helped to make the MLB Series one of the biggest sporting events last year, handily sweeping primetime network ratings in 2013. This year is sure to be a repeat.

Baseball devotees will have to say goodbye to their favorite sport soon until the 2015 season starts next spring. But World Series viewers can show their true colors even in the off-season by becoming card-carrying MLB fans — literally. With the MLB BankAmericard Cash Rewards MasterCard, fans can choose to have even their credit card repping for their favorite baseball team.

This card is more than just a pretty piece of plastic. The MLB BankAmericard Cash Rewards credit card offers a number of benefits that will help baseball fans stretch their dollars further. This MLB BankAmericard Cash Rewards MasterCard review will help you decide whether this credit card is a home run for your finances.

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What You Get with the MLB BankAmericard Cash Rewards Credit Card

MLB BankAmericard Cash Rewards offers cardholders a chance to carry a licensed logo of their favorite team in their wallet. Credit card designs are available for all 30 MLB teams.

Then there are the monetary benefits. The MLB BankAmericard Cash Rewards MasterCard comes with an introductory 0% APR for the first 12 statement closing dates, which applies to both new purchases and balance transfers — though transfers carry a 3 percent fee.

Additionally, cardholders will get a $100 cash rewards bonus by making at least $500 worth of purchases on the card in the first 90 days.

Related: Bank of America Review: Is BofA for You

Cash Rewards On All Purchases, with Extra Cash Back on Groceries and Gas

This card also offer holders 1 percent cash back on all purchases, 2 percent cash back on groceries and 3 percent on gas. The bonuses for groceries and gas applies to the first $1,500 spent every quarter in these categories.

Cardholders can claim their cash rewards when they’ve earned at least $25 in cash back. Choosing to have the cash rewards deposited in a Bank of America checking or savings account will get the depositor a 10 percent bonus.

No Annual Fee, But Watch Out for Late Fees

This card also carries low and limited fees. There is no annual credit card fee. After the 0% introductory period ends, the credit card rate starts as low as 12.99% APR, dependent on the cardholder’s creditworthiness.

The MLB BankAmericard Cash Rewards MasterCard does carry some hefty late fees, however, charging up to $35 for late payments as well as triggering a penalty APR as high as 29.99% on all new transactions.

In addition to an MLB credit card, Bank of America also offers the MLB Checking Account which comes with a debit card and checks decked out in your baseball team’s logo.

Related: Best Debit Card Rewards Programs

Is the MLB BankAmericard Right for You?

Now that you have an overview of the benefits of the MLB BankAmericard, it’s time to compare it to others and see if it will meet your needs.

The MLB BankAmericard Cash Rewards card would probably be a good fit if you:

  • Want a shiny new card decked out with your MLB team’s official logo.
  • Tend to carry a balance, as the introductory 0% credit card rate will help you save on interest.
  • Are looking for a credit card with no annual fee and low overall fees.
  • Plan to use the card to make gas and grocery purchases, earning those 2 and 3 percent cash-back bonuses.

But the MLB BankAmericard won’t be right for everyone. There might be better credit card options out there if you:

  • Are trying to get the best credit card rewards. While the cash back rewards offered by this MLB credit card are better than nothing, the fact is that there are many credit cards out there offering better rewards.
  • Rarely charge groceries or gas to your credit card.
  • Have a tendency to make late payments, for which this card carries hefty penalties.

Overall the MLB BankAmericard Cash Rewards card is a decent credit card choice. It might not rack up rewards the way other credit cards do, but it’s a great, low-fee credit card that won’t cost customers much in the way of interest, at least for the first year, or in fees. For MLB fans, it’s a plus to see their teams’ logos every time they swipe.

Screenshot via Bank of America