Sample rate is for illustrative purposes only, assumes a borrower with excellent credit, property located in state selected above, and is subject to change without notice. Accuracy is not guaranteed and products may not be available for your situation.
Once you’ve built up available equity in your home, you may be able to use a portion of it to help pay for major expenses, such as repairs and renovations, consolidate debt,Footnote1 invest in education or finance other large expenses.
The relative benefits of a loan for debt consolidation depend on your individual circumstances and your actual debt payments. You will realize interest payment savings when you make monthly payments towards the new lower interest rate loan in an amount equal to or greater than what you previously paid towards the higher debt(s) being consolidated. To prevent repeating the same adverse debt scenario in the future, do not add new balances to the credit accounts being consolidated.
Home Equity Line of Credit: Home Equity Line of Credit (HELOC) interest rate discounts are available to clients who are enrolled or are eligible to enroll in Preferred Rewards at the time of home equity application (for co-borrowers, at least one applicant must be enrolled or eligible to enroll). Amount of discount is based on your eligible tier at the time of home equity application and is not subject to adjustment. Eligibility will be available three or more business days after the end of the calendar month in which you satisfy the requirements. For details on requirements, visit the Preferred Rewards Addendum to the Personal Schedule of Fees, available at www.bankofamerica.com/feesataglance. Benefit is non-transferable. Preferred Rewards home equity benefit can be combined with other home equity interest rate discounts. Home equity products subject to change without notice.
We strive to provide you with information about products and services you might find interesting and useful. Relationship-based ads and online behavioral advertising help us do that.
Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have.
If you prefer that we do not use this information, you may opt out of online behavioral advertising. If you opt out, though, you may still receive generic advertising. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.
Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. These ads are based on your specific account relationships with us.
Home Equity Overview - Home Equity Loans from Bank of AmericaUse your available home equity to your advantage. A home equity loan or line of credit can be a smart way to make home repairs, consolidate debt and more.
Card eligibility guidelines
Most Bank of America® branded consumer credit cards (such as the BankAmericard Cash Rewards™ credit card and the BankAmericard Travel Rewards® credit card) are eligible to receive the credit card rewards bonus. Listed below are the card types and programs that are not eligible to receive the credit card rewards bonus. To receive the credit card rewards bonus, your eligible card account must be open and in good standing, as defined by the account Reward Program Rules.
Non-rewards credit cards
Business purpose credit cards
BankAmericard Privileges® (except Cash Rewards customers in the Platinum Honors tier)
Bank of America Accolades®
BankAmericard® Better Balance Rewards?
Merrill Lynch branded (including Merrill Accolades®, MERRILL+®, Total Merrill® Cash Back, Total Merrill Match® and Merrill Lynch® Octave?)
U.S. Trust branded (including Bank of America Accolades and U.S. Trust® Octave?)
AAA Dollars® Visa credit card
AAA® Gas Rebate
Azamara Club Cruises®
Bass Pro Shops®
Royal Caribbean International®
Virgin Atlantic Airways®
This list is subject to change without prior notice.