The Offer
- Mountain America is offering a 3% cash bonus on balance transfers to their Mountain America Visa Platinum Credit Card by September 30th, 2016. You can use the 3% cash back and apply it towards the credit card balance, deposit it in your checking or savings account or get a cash payout at the branch. There are no balance transfer fees.
The Fine Print
- Limit of two transfers from the same external account or financial institution.
- Total cash bonus cannot exceed 3% of the credit limit on your Mountain America Credit Card. Not available on balances transferred from an existing Mountain America loan. Business accounts not eligible.
- Cash back reward is considered interest and will be reported on IRS Form 1099-INT.
- Offer expires 9/30/16
- Valid until September 30th, 2016
Eligiblity
You need to work for one of the select employer groups, have an immediate family member with an account or reside in one of the following counties:
Our Verdict
There are a few things that I don’t like about this deal, first they will send you a 1099-INT form for this bonus so you’ll have to pay taxes on it. You also only have until September 30th to complete your balance transfers and you’re limited to 3% of your credit limit. I suspect they will be giving out relatively low credit limits as well. It seems like these 3% cash back offers on balance transfers are becoming more popular with credit unions – as Citadel credit union also has a similar deal for those in PA.
If I was eligible and I knew I could get a credit limit of $10,000+ I’d probably jump on this offer but there are better cash sign up bonuses out there.
