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The Rainbow Card Platinum Plus Visa Card

For every new account that is opened and every purchase made with the card, Bank of America will make a contribution to the Rainbow Endowment - at no additional cost to you!
The Rainbow Endowment is a grant making organization that funds the GLBT community.
Earn 1 point for every net retail dollar and redeem your points for travel, merchandise, gift certificates, and cash
No annual fee
Online account access, get up-to-the-minute account information, schedule payments online, review statements and much more.
*See website for complete terms and conditions of card usage and application disclosure.

Bank of America presents The Rainbow Card® Platinum Plus® Visa® Card

• For every new account that is opened and every purchase made with the card, Bank of America will make a contribution to the Rainbow Endowment - at no additional cost to you! The Rainbow Endowment is a grant making organization that funds the GLBT community.
  
• Earn 1 point for every net retail dollar and redeem your points for travel, merchandise, gift certificates, and cash
  
• No annual fee
  
• Online account access, get up-to-the-minute account information, schedule payments online, review statements and much more.
  

The Rainbow Card® Platinum Plus® Visa® Card features:

DID YOU KNOW?

	More and more people opt for cash advances now than they did in the past to help pay unexpected expenses in the middle of the month. Usually people who rely on their paychecks would find such conditions very harsh and would have no assistance until payday. Many companies provide cash advances based on the applicant's credit card, credit rating, or paycheck. There are a number of companies that deal with cash advances in a number of locations. However, it might seem a waste of time to stand in line for a cash advance with the fast development of technologies. Almost all cash advance companies have websites that allow the borrower to make a transaction online. When a person enters the website, some requisite details are to be provided that are checked online almost instantly. Once the details are verified, the amount will be transferred to the individual’s checking account almost immediately and the person should be able to receive the amount within 24 hours. One advantage would be that these companies do not require credit checks which makes the transaction that much faster. Banks also provide an option of cash advances. The check can be electronically deposited in the bank one day before pay to insure that the money is repaid in full and does not roll over for another month. It is suggested not to opt for more than one payday loan per month as this will be checked by the companies and might adversely affect the person's credit rating. Even if it is not checked this might prove to be a bit hard to pay off on the next payday.

Named after Senator William V. Roth, Jr., the Roth IRA, or individual retirement arrangements or individual retirement accounts as they are commonly called, are fast emerging as popular saving schemes. The advantage of this scheme is that the tax payers, on meeting a certain eligibility criteria, can contribute some amount of their compensation income into the Roth IRA account, and the savings that grow in it will be tax-free.

One thing to be kept in mind is that the tax benefits accrue only when an individual withdraws money from the account. Withdrawals are subject to certain Limits in order to be tax-free. First and foremost, a person who has either reached fifty-nine and a half years of age or has suffered some sort of disability can make the withdrawals after a period of five years. The withdrawn money will also be tax-free if the person needs it to buy, build or rebuild his first home.

Also, regarding contributions, there are certain set Limits. This means that in one financial year, a person’s contributions cannot exceed $4,000 or 100% of his gross adjustable income, whichever is lesser. Also, the contributions can only be from compensation income. This includes the wages or the earnings obtained from self-employment. Compensation income does not include income from investments, or pension income.

Also, the total IRA contributions that an individual can make include the sum total of the traditional and Roth IRA amounts. So if a person has made some contributions to the traditional IRA, the amount that he can contribute to the Roth IRA will also be reduced.

Then there are certain eligibility Limits. A single person can make contributions to the Roth IRA only if his adjusted gross income (AGI) is below $95,000. A single person with an AGI of $115,000 or more is not eligible for the Roth IRA.

For a married couple who file joint returns, the AGI needs to be $150,000. If they file their returns separately, they are not entitled to make a contribution to a Roth IRA, if his or her AGI exceeds $100,000.