Core Insights - LendingClub Bank has launched LevelUp Checking, a digital-first financial solution that rewards members for making smart financial decisions and using their own money rather than borrowing [1][2] Group 1: Product Features - LevelUp Checking offers 1% unlimited cash back on debit card purchases for gas, groceries, and pharmacy items [1][6] - Members with a LendingClub personal loan can earn 2% cash back on their monthly loan payments made from their LevelUp Checking account [1][9] - The program is designed to encourage responsible spending and financial behavior among members [2][3] Group 2: Member Benefits - Current LendingClub members can access LevelUp Checking by enrolling in direct deposit, and new members can join by taking out a personal loan or opening a LevelUp Savings account [3][4] - Members using multiple LendingClub products can maximize their rewards, such as earning higher cash back for on-time loan payments [3][4] - The LevelUp Checking account has no account fees, no minimum balance requirements, and offers unlimited ATM rebates [5][10] Group 3: Market Insights - A recent survey indicated that 31% of consumers prioritize rewards or cash back when choosing a credit card, highlighting the demand for such financial incentives [2][11] - The survey also revealed that 42% of consumers have increased their credit card spending primarily on food and groceries due to rising living costs [2][11]

Core Points - Bank of America has launched enhanced cash back offers for its Customized Cash Rewards and Unlimited Cash Rewards credit cards, effective June 1, allowing clients to earn 6% cash back in their chosen category for the first year, an increase from 3% [1][2] - The Unlimited Cash Rewards card will provide 2% cash back on all purchases during the first year, up from 1.5%, with no cap on cash back earnings [1][6] - A welcome bonus of $200 is available for new cardholders who spend $1,000 or more within the first 90 days of opening either card [2][6] Customized Cash Rewards Offer Details - Cardholders can earn 6% cash back in their selected category for the first year, which includes categories such as gas, online shopping, dining, and travel, with 2% at grocery stores and 1% on all other purchases [6] - After the first year, cash back in the chosen category will revert to 3%, with a quarterly limit of $2,500 on combined purchases in the choice category and grocery stores [6] - Cash rewards do not expire as long as the account remains open, and the category of choice can be switched once per month [6] Unlimited Cash Rewards Offer Details - Cardholders will earn unlimited 2% cash back on all purchases for the first year, which will then decrease to 1.5% after the promotional period [6] - There is no limit on cash back earned, and rewards do not expire as long as the account remains open [6] Company Overview - Bank of America is a leading financial institution serving approximately 69 million consumer and small business clients through around 3,700 retail financial centers and 15,000 ATMs [3] - The company is a global leader in wealth management, corporate and investment banking, and trading across various asset classes, serving clients in over 35 countries [3]

Core Points - The Bank of America® Customized Cash Rewards credit card offers flexible cash back rewards, allowing users to select a 3% cash back category each month, with additional benefits at grocery stores and wholesale clubs [1][4][14] - The card has no annual fee and includes a welcome bonus of $200 after spending $1,000 in the first 90 days, along with an introductory 0% APR for the first 15 billing cycles [4][19] - Users can earn up to 75% more cash back as Bank of America Preferred Rewards members, increasing potential rewards significantly [12][10] Summary by Category Card Overview - The card features a $0 annual fee and a welcome offer of $200 cash rewards after $1,000 in purchases within the first 90 days [4][19] - Introductory APR is 0% for the first 15 billing cycles for purchases and balance transfers made within the first 60 days [4][19] - The purchase APR ranges from 18.24% to 28.24% variable after the introductory period [4] Rewards Structure - Cardholders can earn 3% cash back in a chosen category, 2% at grocery stores and wholesale clubs, and unlimited 1% on all other purchases [4][11] - Bonus cash back applies to the first $2,500 in combined purchases each quarter in the selected 3% and 2% categories [6][8] - Users can change their 3% category once a month, allowing for adaptability based on spending habits [7][19] Additional Benefits - Preferred Rewards members can earn between 25% and 75% more cash back, potentially increasing annual rewards to $525 if the spending cap is maximized [12][10] - The card includes features like access to free monthly FICO® scores, contactless payment technology, and overdraft protection [10][12] - Cash back rewards can be redeemed at any time for statement credits or deposits into Bank of America accounts [13] Target Audience - The card is ideal for consumers with varying spending habits throughout the year, allowing them to maximize cash back rewards by customizing their spending categories [14][15] - The introductory APR offer provides an opportunity to pay off purchases without accruing interest, benefiting those looking to manage credit card debt [15]