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Balance Transfer to Bank of America Efectiva Platinum Plus Visa Bank of America EfectivaTM Platinum Plus® Visa®


Bank of America Efectiva Platinum Plus Visa
Intro APR: 0%

 Issuer: Card issued by FIA Card Services, NA.
APR (Purchases): Intro Rate - 0% for six billing cycles. Goto rate is a variable risk based rate between Prime + 3.99% and P + 12.99%
APR (Balance Transfers): Intro Rate -0% for 6 billing cycles on balance transfers and cash advance checks with a 3% balance transfer fee ($10 min.) Goto rate is a variable risk based rate between Prime + 3.99% and P + 12.99%
APR (Cash Advances): 21.99% Variable * minimum 19.99% . (P + 15.99%)
Finance Configuration: Average Daily Balance (including new purchases)*
Annual Fee: None
Additional Cardholders: $0
Grace Period: 20 Days (Min.)
Minimum Credit Limit: $500
Maximum Credit Limit: $25,000
Late Payment Fee: $19 on balances up to $100; $29 on balances of $100 up to $1,000; and $39 on balances over $1,000
Over-The-Limit Fee: $35
Cash Advance Fee: 3%, $10 minimum
Balance Transfer Fee: None

Reward Program Details

  • Customers earn 1 point for every $100 spent in net purchases up to $600 a year
  • Customer earns 5 bonus points with the first purchase
  • Customer earns 5 points for every $2,500 in net monthly balance transfers from non-Bank of Amrica accounts
  • Points don't expire for up to 5 years
  • Accounts must be in good standing in order to receive cash back

*See website for complete terms and conditions of card usage and application disclosure. *Terms and Conditions





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Creating a financial investment plan is arguably the most important step in an investor's timeline. Your plan is the road map which will assist you in achieving your long term financial goals and aspirations. The old adage, "if you fail to plan, you plan to fail," relates 100% to successful investing. If you haven't created a plan or don't know how, here are the basic steps you need to take:

1. Determine your time horizon (the amount of time you can sit on your investments) and write it down. You'll use your time horizon to choose which investments are most attractive to you. It also helps a ton when deciding between small, mid, and large cap stocks because you have already devised your own investment strategy.

2. Gauge your level of risk tolerance. Some investors like to gamble more than others. Determining your risk tolerance early on will save you any unexpected moments of pain if followed correctly.

3. Let your age play a role too. The younger you are, the easier it is to rebound from losses. This part of the equation is vital for baby boomers. DO NOT INVEST YOUR RETIREMENT IN ANYTHING BUT YOUR RETIREMENT. Baby Boomers want low risk, capital preservation stocks and/or funds. Remember: you can take out a loan on a car, education, house, or vacation, but cannot take out loans for retirement.

4. Add the proper investments that agree with your investment plan. There's no point in devising a plan if you do not choose to follow it. Discipline is probably the most important aspect of investing. Learn it early on and it'll never be a problem in the future.

5. Balance your portfolio at least annually so it constantly reflects your investment plan. Always stay on top of your investments unless you rather pay someone else to do it for you.

Define your investing profile: This is the breakdown of your investment type. To give you an idea, here's my investment profile. Remember that I'm a college student, so you'll have to devise your own plan based on your age, level of risk tolerance, and time horizon.

* 70% Domestic Stock investment

* 15% Foreign Stock investment

* 15% bonds investment

* 0% Short Term cash (I have some cash in high yielding online savings accounts like Emigrant Direct)

To find out which investments are riskier than others, refer to the risk volatility pyramid below.

Risk Pyramid from low to high risk - cash, bonds, stocs, speculative holdings

Cash carries low risk because of it's face value and liquidity. Speculative investments carry high risk because investors "speculate" on the future of an investment without effectively analyzing data or similar resources.

Need to find out your risk profile? It's simple. You're either risk-adverse or risk tasking, but your time horizon ultimately determines your risk aversion.

Time Horizon < 30+ years

Goal = Aggressive Growth

* small and mid cap growth stocks

* mid cap growth and value stocks

* a few large cap growth stocks

Time Horizon < 20 years

Goal = Growth

* small cap growth and value

* mid cap growth

* large cap value and growth

Time Horizon < 10 years

Goal = Conservative Growth

* mid cap value and growth

* large cap value and growth

* bonds

Time Horizon < 5 years

Goal = Capital Preservation

* mid cap value

* large cap value

* bonds

* short term cash

Follow these steps and you'll be well on your way to financial success. Just remember: Plan your moves first, then Execute them.

What's your investment strategy?


  • Transfer your balance to Bank of America EfectivaTM Platinum Plus® Visa®

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