Bank of America/Merrill Edge - Preferred Rewards
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Re: Bank of America/Merrill Edge - Preferred Rewards
Thank you. Seems like $0 is okay but safer to leave $10 or so
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Re: Bank of America/Merrill Edge - Preferred Rewards
Try $1!Marseille07 wrote: ↑Thu Jul 29, 2021 6:59 pm Thank you. Seems like $0 is okay but safer to leave $10 or so
Re: Bank of America/Merrill Edge - Preferred Rewards
I leave $.01 with no issues in my Bofa checking account...
Re: Bank of America/Merrill Edge - Preferred Rewards
Any way to turn off the low balance emails when you have under $100 in there?
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Re: Bank of America/Merrill Edge - Preferred Rewards
DO NOT LEAVE A ZERO BALANCE! After a while your account will be closed and you'll lose Preferred Rewards status. This happened to me, but thankfully I caught it in time before the status expired. I just leave $25 in there now.Marseille07 wrote: ↑Thu Jul 29, 2021 6:40 pm Also, any repercussions if we leave the account at $0, provided I'm a Platinum Honors customer?
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Re: Bank of America/Merrill Edge - Preferred Rewards
You can leave a 0 balance if you have some activity -- I get around this by auto redeeming my rewards monthly and then transferring the cash to another account as soon as it is available.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Thank you, this is good to know as I don't intend to use this account at all. In my case the rewards would be points, not cash, so they too wouldn't be hitting this account. I'll do $25 like you.02nz wrote: ↑Fri Jul 30, 2021 9:32 amDO NOT LEAVE A ZERO BALANCE! After a while your account will be closed and you'll lose Preferred Rewards status. This happened to me, but thankfully I caught it in time before the status expired. I just leave $25 in there now.Marseille07 wrote: ↑Thu Jul 29, 2021 6:40 pm Also, any repercussions if we leave the account at $0, provided I'm a Platinum Honors customer?
Re: Bank of America/Merrill Edge - Preferred Rewards
There wasn't an alert turned on.stilllurking wrote: ↑Fri Jul 30, 2021 9:30 amTry in Accounts | Alerts | Low balance threshold and turn it off?
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Re: Bank of America/Merrill Edge - Preferred Rewards
What now? If I do $25 like another poster suggested, I get alerts and no way to turn them off? Since the initial deposit for Relationship is $100 anyway, how about we just leave it?
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Re: Bank of America/Merrill Edge - Preferred Rewards
From the Bank of America website:
Help & Support -> Manage Alerts -> General & Security -> Balance Drops Below $100
Help & Support -> Manage Alerts -> General & Security -> Balance Drops Below $100
Re: Bank of America/Merrill Edge - Preferred Rewards
scornovaca wrote: ↑Fri Jul 30, 2021 10:10 am From the Bank of America website:
Help & Support -> Manage Alerts -> General & Security -> Balance Drops Below $100
Thanks!
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Re: Bank of America/Merrill Edge - Preferred Rewards
Crisis averted. What's the minimum balance we need to keep? If $0 is bad, what about $1 (assume not much activity)?
Also, even if they do go ahead and try to close checking, we seem to receive some notification to avoid closure?
Also, even if they do go ahead and try to close checking, we seem to receive some notification to avoid closure?
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Re: Bank of America/Merrill Edge - Preferred Rewards
I redeem my CC rewards into my checking account on a monthly basis. Then sweep to Vanguard leaving a $0 balance. Therefore, it has a $0 balance 99% of the month.Marseille07 wrote: ↑Fri Jul 30, 2021 10:18 am Crisis averted. What's the minimum balance we need to keep? If $0 is bad, what about $1 (assume not much activity)?
Also, even if they do go ahead and try to close checking, we seem to receive some notification to avoid closure?
I haven't had any problems yet and don't intend to change things. Though maybe you could keep $1 there just to be safe.
I blog here: https://www.frugalprofessor.com/
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Re: Bank of America/Merrill Edge - Preferred Rewards
Thank you, I'll go with $1 then. In my case my rewards are points, so the checking won't have much activities if at all.FrugalProfessor wrote: ↑Fri Jul 30, 2021 2:24 pmI redeem my CC rewards into my checking account on a monthly basis. Then sweep to Vanguard leaving a $0 balance. Therefore, it has a $0 balance 99% of the month.Marseille07 wrote: ↑Fri Jul 30, 2021 10:18 am Crisis averted. What's the minimum balance we need to keep? If $0 is bad, what about $1 (assume not much activity)?
Also, even if they do go ahead and try to close checking, we seem to receive some notification to avoid closure?
I haven't had any problems yet and don't intend to change things. Though maybe you could keep $1 there just to be safe.
Re: Bank of America/Merrill Edge - Preferred Rewards
What do you redeem your BofA points for if not cash?Marseille07 wrote: ↑Fri Jul 30, 2021 2:45 pmThank you, I'll go with $1 then. In my case my rewards are points, so the checking won't have much activities if at all.FrugalProfessor wrote: ↑Fri Jul 30, 2021 2:24 pmI redeem my CC rewards into my checking account on a monthly basis. Then sweep to Vanguard leaving a $0 balance. Therefore, it has a $0 balance 99% of the month.Marseille07 wrote: ↑Fri Jul 30, 2021 10:18 am Crisis averted. What's the minimum balance we need to keep? If $0 is bad, what about $1 (assume not much activity)?
Also, even if they do go ahead and try to close checking, we seem to receive some notification to avoid closure?
I haven't had any problems yet and don't intend to change things. Though maybe you could keep $1 there just to be safe.
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Re: Bank of America/Merrill Edge - Preferred Rewards
So I'm still new with BofA, but my understanding is that I earn points, and apply the points on certain qualifying items on my CC statement. Travel Rewards card is somewhat limited in this regard, only accepting travel-related expenses or dining / takeout.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Thought you had cash rewards too?Marseille07 wrote: ↑Fri Jul 30, 2021 2:57 pmSo I'm still new with BofA, but my understanding is that I earn points, and apply the points on certain qualifying items on my CC statement. Travel Rewards card is somewhat limited in this regard, only accepting travel-related expenses or dining / takeout.
In any event could setup the points to auto-redeem as a statement credit.
"Anyone who claims to understand quantum theory is either lying or crazy" -- Richard Feynman
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Re: Bank of America/Merrill Edge - Preferred Rewards
I can get cash rewards but the exchange rate isn't as good. This is the brilliance of points system - they get to define what a point is.tomsense76 wrote: ↑Fri Jul 30, 2021 3:00 pmThought you had cash rewards too?Marseille07 wrote: ↑Fri Jul 30, 2021 2:57 pmSo I'm still new with BofA, but my understanding is that I earn points, and apply the points on certain qualifying items on my CC statement. Travel Rewards card is somewhat limited in this regard, only accepting travel-related expenses or dining / takeout.
In any event could setup the points to auto-redeem as a statement credit.
I'll look into auto-redeem, that's exactly what I want.
Re: Bank of America/Merrill Edge - Preferred Rewards
Technically, with the Travel Rewards card there's a cash option and a travel statement credit option. But it would be very silly to choose the former, since you get 40% less value (0.6 cent per point) than redeeming against travel purchases.Marseille07 wrote: ↑Fri Jul 30, 2021 2:57 pmSo I'm still new with BofA, but my understanding is that I earn points, and apply the points on certain qualifying items on my CC statement. Travel Rewards card is somewhat limited in this regard, only accepting travel-related expenses or dining / takeout.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Exactly. Practically I need to spend the points as a statement credit on qualifying items. Alternatives are available but not appealing.02nz wrote: ↑Fri Jul 30, 2021 3:21 pmTechnically, with the Travel Rewards card there's a cash option and a travel statement credit option. But it would be very silly to choose the former, since you get 40% less value (0.6 cent per point) than redeeming against travel purchases.Marseille07 wrote: ↑Fri Jul 30, 2021 2:57 pmSo I'm still new with BofA, but my understanding is that I earn points, and apply the points on certain qualifying items on my CC statement. Travel Rewards card is somewhat limited in this regard, only accepting travel-related expenses or dining / takeout.
I also don't see auto-redeem for the Travel Rewards card, might have to be done manually - not that this is a huge deal though, once-a-quarter kind of thing.
Re: Bank of America/Merrill Edge - Preferred Rewards
Switch the card from Travel Rewards to whatever the new one is that has cash back at the same rate.Marseille07 wrote: ↑Fri Jul 30, 2021 3:10 pmI can get cash rewards but the exchange rate isn't as good. This is the brilliance of points system - they get to define what a point is.tomsense76 wrote: ↑Fri Jul 30, 2021 3:00 pmThought you had cash rewards too?Marseille07 wrote: ↑Fri Jul 30, 2021 2:57 pmSo I'm still new with BofA, but my understanding is that I earn points, and apply the points on certain qualifying items on my CC statement. Travel Rewards card is somewhat limited in this regard, only accepting travel-related expenses or dining / takeout.
In any event could setup the points to auto-redeem as a statement credit.
I'll look into auto-redeem, that's exactly what I want.
https://www.bankofamerica.com/credit-ca ... edit-card/
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Re: Bank of America/Merrill Edge - Preferred Rewards
The problem is FTF 3% on that card. I'd rather take a statement credit + 0% FTF than cashback + 3% FTF.tj wrote: ↑Fri Jul 30, 2021 3:33 pm Switch the card from Travel Rewards to whatever the new one is that has cash back at the same rate.
https://www.bankofamerica.com/credit-ca ... edit-card/
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Re: Bank of America/Merrill Edge - Preferred Rewards
I transfer my Travel Rewards points to the Premium Rewards card and redeem for cash back there (manually or via the automatic monthly redemption). If you have the Ultimate card, you may be able to do the same and thus, not need any qualifying transactions.Marseille07 wrote: ↑Fri Jul 30, 2021 3:35 pmThe problem is FTF 3% on that card. I'd rather take a statement credit + 0% FTF than cashback + 3% FTF.tj wrote: ↑Fri Jul 30, 2021 3:33 pm Switch the card from Travel Rewards to whatever the new one is that has cash back at the same rate.
https://www.bankofamerica.com/credit-ca ... edit-card/
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Re: Bank of America/Merrill Edge - Preferred Rewards
Yeah this is an amazing set up if feasible. I just got the Travel card this month though, I'd imagine I have to wait for perhaps 6 months to apply for the Ultimate.BrandonBogle wrote: ↑Fri Jul 30, 2021 4:41 pmI transfer my Travel Rewards points to the Premium Rewards card and redeem for cash back there (manually or via the automatic monthly redemption). If you have the Ultimate card, you may be able to do the same and thus, not need any qualifying transactions.Marseille07 wrote: ↑Fri Jul 30, 2021 3:35 pmThe problem is FTF 3% on that card. I'd rather take a statement credit + 0% FTF than cashback + 3% FTF.tj wrote: ↑Fri Jul 30, 2021 3:33 pm Switch the card from Travel Rewards to whatever the new one is that has cash back at the same rate.
https://www.bankofamerica.com/credit-ca ... edit-card/
If anyone already has the Ultimate and could confirm the points transfer that'd be great.
Re: Bank of America/Merrill Edge - Preferred Rewards
Why do you bother using the Travel if you have the Premium?BrandonBogle wrote: ↑Fri Jul 30, 2021 4:41 pmI transfer my Travel Rewards points to the Premium Rewards card and redeem for cash back there (manually or via the automatic monthly redemption). If you have the Ultimate card, you may be able to do the same and thus, not need any qualifying transactions.Marseille07 wrote: ↑Fri Jul 30, 2021 3:35 pmThe problem is FTF 3% on that card. I'd rather take a statement credit + 0% FTF than cashback + 3% FTF.tj wrote: ↑Fri Jul 30, 2021 3:33 pm Switch the card from Travel Rewards to whatever the new one is that has cash back at the same rate.
https://www.bankofamerica.com/credit-ca ... edit-card/
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Re: Bank of America/Merrill Edge - Preferred Rewards
Sorry I meant the cash rewards card, which one could redeem using cash back.Marseille07 wrote: ↑Fri Jul 30, 2021 3:10 pmI can get cash rewards but the exchange rate isn't as good. This is the brilliance of points system - they get to define what a point is.tomsense76 wrote: ↑Fri Jul 30, 2021 3:00 pmThought you had cash rewards too?Marseille07 wrote: ↑Fri Jul 30, 2021 2:57 pmSo I'm still new with BofA, but my understanding is that I earn points, and apply the points on certain qualifying items on my CC statement. Travel Rewards card is somewhat limited in this regard, only accepting travel-related expenses or dining / takeout.
In any event could setup the points to auto-redeem as a statement credit.
I'll look into auto-redeem, that's exactly what I want.
Yeah auto-redeem is pretty simple to setup if you go into rewards for the card. Idk how it works with Travel Rewards CC specifically, but with Cash Rewards and Premium Rewards they won't redeem unless on racks up at least $25 in rewards. Depending on how often you use the card, this may or may not be an issue.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Also curious about this. Wondering if I'm missing somethingtj wrote: ↑Fri Jul 30, 2021 4:55 pmWhy do you bother using the Travel if you have the Premium?BrandonBogle wrote: ↑Fri Jul 30, 2021 4:41 pmI transfer my Travel Rewards points to the Premium Rewards card and redeem for cash back there (manually or via the automatic monthly redemption). If you have the Ultimate card, you may be able to do the same and thus, not need any qualifying transactions.Marseille07 wrote: ↑Fri Jul 30, 2021 3:35 pmThe problem is FTF 3% on that card. I'd rather take a statement credit + 0% FTF than cashback + 3% FTF.tj wrote: ↑Fri Jul 30, 2021 3:33 pm Switch the card from Travel Rewards to whatever the new one is that has cash back at the same rate.
https://www.bankofamerica.com/credit-ca ... edit-card/
"Anyone who claims to understand quantum theory is either lying or crazy" -- Richard Feynman
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Re: Bank of America/Merrill Edge - Preferred Rewards
The Travel Rewards card came with 1 year 0% on purchases and Premium didn’t (though both also had spend bonuses). I’ve put home renovations on there and stringing along the funds at higher interest elsewhere.tomsense76 wrote: ↑Fri Jul 30, 2021 5:30 pmAlso curious about this. Wondering if I'm missing somethingtj wrote: ↑Fri Jul 30, 2021 4:55 pmWhy do you bother using the Travel if you have the Premium?BrandonBogle wrote: ↑Fri Jul 30, 2021 4:41 pmI transfer my Travel Rewards points to the Premium Rewards card and redeem for cash back there (manually or via the automatic monthly redemption). If you have the Ultimate card, you may be able to do the same and thus, not need any qualifying transactions.Marseille07 wrote: ↑Fri Jul 30, 2021 3:35 pmThe problem is FTF 3% on that card. I'd rather take a statement credit + 0% FTF than cashback + 3% FTF.tj wrote: ↑Fri Jul 30, 2021 3:33 pm Switch the card from Travel Rewards to whatever the new one is that has cash back at the same rate.
https://www.bankofamerica.com/credit-ca ... edit-card/
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Re: Bank of America/Merrill Edge - Preferred Rewards
I'm doing ACAT from Brokerage A to Merrill Edge to park 100K+ to qualify for Platinum Honors. Now, I think I transferred too many shares and want to send 100 shares from ME to Brokerage B. Does anyone know how long I need to wait (if at all) before initiating an ACAT transfer from ME to Brokerage B?
Brokerage B only recognizes "Merrill Lynch" not "Merrill Edge," I'm asking their support if they're the same thing. Worst comes worst, I might have to ACAT back the 100 to Brokerage A, which Brokerage B recognizes.
Brokerage B only recognizes "Merrill Lynch" not "Merrill Edge," I'm asking their support if they're the same thing. Worst comes worst, I might have to ACAT back the 100 to Brokerage A, which Brokerage B recognizes.
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Re: Bank of America/Merrill Edge - Preferred Rewards
I was not aware you can transfer points to another card. Thanks for the tip!BrandonBogle wrote: ↑Fri Jul 30, 2021 4:41 pm I transfer my Travel Rewards points to the Premium Rewards card and redeem for cash back there (manually or via the automatic monthly redemption). If you have the Ultimate card, you may be able to do the same and thus, not need any qualifying transactions.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Is the Premium Rewards card the best all around with Platinum Honors? I see there is a $95/yr fee.BrandonBogle wrote: ↑Fri Jul 30, 2021 6:59 pmThe Travel Rewards card came with 1 year 0% on purchases and Premium didn’t (though both also had spend bonuses). I’ve put home renovations on there and stringing along the funds at higher interest elsewhere.tomsense76 wrote: ↑Fri Jul 30, 2021 5:30 pmAlso curious about this. Wondering if I'm missing somethingtj wrote: ↑Fri Jul 30, 2021 4:55 pmWhy do you bother using the Travel if you have the Premium?BrandonBogle wrote: ↑Fri Jul 30, 2021 4:41 pmI transfer my Travel Rewards points to the Premium Rewards card and redeem for cash back there (manually or via the automatic monthly redemption). If you have the Ultimate card, you may be able to do the same and thus, not need any qualifying transactions.Marseille07 wrote: ↑Fri Jul 30, 2021 3:35 pm
The problem is FTF 3% on that card. I'd rather take a statement credit + 0% FTF than cashback + 3% FTF.
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Re: Bank of America/Merrill Edge - Preferred Rewards
I use the premium rewards card for anything that doesn't qualify for a 5.25% with the cash rewards card.anon_investor wrote: ↑Sat Jul 31, 2021 6:38 pmIs the Premium Rewards card the best all around with Platinum Honors? I see there is a $95/yr fee.BrandonBogle wrote: ↑Fri Jul 30, 2021 6:59 pmThe Travel Rewards card came with 1 year 0% on purchases and Premium didn’t (though both also had spend bonuses). I’ve put home renovations on there and stringing along the funds at higher interest elsewhere.tomsense76 wrote: ↑Fri Jul 30, 2021 5:30 pmAlso curious about this. Wondering if I'm missing somethingtj wrote: ↑Fri Jul 30, 2021 4:55 pmWhy do you bother using the Travel if you have the Premium?BrandonBogle wrote: ↑Fri Jul 30, 2021 4:41 pm
I transfer my Travel Rewards points to the Premium Rewards card and redeem for cash back there (manually or via the automatic monthly redemption). If you have the Ultimate card, you may be able to do the same and thus, not need any qualifying transactions.
https://frugalprofessor.com/best-credit ... 9-edition/
Every year I buy $100 of American airlines egift cards to take advantage of the $100 airline incidental credit and sell them for about 85 bucks. So the net cost of earning that car is about 10 bucks for me. But I also get the global entry credit every 4 years, so it's even better.
It's a good system. I recommend it.
I blog here: https://www.frugalprofessor.com/
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Re: Bank of America/Merrill Edge - Preferred Rewards
The question is whether $1 is enough. A poster said $0 got their checking closed, $25 seems OK. Another poster empties their account but they have account activities.anon_investor wrote: ↑Thu Jul 29, 2021 7:02 pmTry $1!Marseille07 wrote: ↑Thu Jul 29, 2021 6:59 pm Thank you. Seems like $0 is okay but safer to leave $10 or so
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Re: Bank of America/Merrill Edge - Preferred Rewards
How far apart was your spacing to apply to get both CCs?FrugalProfessor wrote: ↑Sat Jul 31, 2021 8:49 pmI use the premium rewards card for anything that doesn't qualify for a 5.25% with the cash rewards card.anon_investor wrote: ↑Sat Jul 31, 2021 6:38 pmIs the Premium Rewards card the best all around with Platinum Honors? I see there is a $95/yr fee.BrandonBogle wrote: ↑Fri Jul 30, 2021 6:59 pmThe Travel Rewards card came with 1 year 0% on purchases and Premium didn’t (though both also had spend bonuses). I’ve put home renovations on there and stringing along the funds at higher interest elsewhere.tomsense76 wrote: ↑Fri Jul 30, 2021 5:30 pmAlso curious about this. Wondering if I'm missing something
https://frugalprofessor.com/best-credit ... 9-edition/
Every year I buy $100 of American airlines egift cards to take advantage of the $100 airline incidental credit and sell them for about 85 bucks. So the net cost of earning that car is about 10 bucks for me. But I also get the global entry credit every 4 years, so it's even better.
It's a good system. I recommend it.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Is the proper strategy to:
#1 get the CC
#2 transfer $100k to Merrill Edge
#3 wait 3 month then open Advantage Relationship Checking and enroll in Preferred Rewards?
#1 get the CC
#2 transfer $100k to Merrill Edge
#3 wait 3 month then open Advantage Relationship Checking and enroll in Preferred Rewards?
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Re: Bank of America/Merrill Edge - Preferred Rewards
No need to wait for anything except Preferred Rewards. You can get CC, Relationship and ME at the same time and be fine.anon_investor wrote: ↑Sat Jul 31, 2021 11:31 pm Is the proper strategy to:
#1 get the CC
#2 transfer $100k to Merrill Edge
#3 wait 3 month then open Advantage Relationship Checking and enroll in Preferred Rewards?
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Re: Bank of America/Merrill Edge - Preferred Rewards
But the BoA website makes it sound like the fee for Advantage Relationship Check isn't waived until you can enroll in Preferred Rewards 3 months later.Marseille07 wrote: ↑Sat Jul 31, 2021 11:35 pmNo need to wait for anything except Preferred Rewards. You can get CC, Relationship and ME at the same time and be fine.anon_investor wrote: ↑Sat Jul 31, 2021 11:31 pm Is the proper strategy to:
#1 get the CC
#2 transfer $100k to Merrill Edge
#3 wait 3 month then open Advantage Relationship Checking and enroll in Preferred Rewards?
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Re: Bank of America/Merrill Edge - Preferred Rewards
You can use the balance in ME to get the fee waived. Be sure to put more than 10K in ME, but if you're after Platinum Honors you're parking 100K+ there anyway.anon_investor wrote: ↑Sat Jul 31, 2021 11:36 pm But the BoA website makes it sound like the fee for Advantage Relationship Check isn't waived until you can enroll in Preferred Rewards 3 months later.
Maintain a combined balance of $10,000 in eligible linked accounts
OR
Are enrolled in Preferred Rewards
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Re: Bank of America/Merrill Edge - Preferred Rewards
It will be waived for a month or two at the start to begin with. If they charge a fee, I'm sure you will be able to get it waived when you explain the situation. You could possibly wait one month, but I certainly would not wait longer. You don't want to miss the monthly cutoff for calculating if you are eligible.anon_investor wrote: ↑Sat Jul 31, 2021 11:36 pm But the BoA website makes it sound like the fee for Advantage Relationship Check isn't waived until you can enroll in Preferred Rewards 3 months later.
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Re: Bank of America/Merrill Edge - Preferred Rewards
And if you fly and pay baggage fees on domestic airlines, there's not even any need to do that. Just charge your fees and they will be refunded. The gift cards are only a backup plan if you don't have another use for the credit.FrugalProfessor wrote: ↑Sat Jul 31, 2021 8:49 pm Every year I buy $100 of American airlines egift cards to take advantage of the $100 airline incidental credit and sell them for about 85 bucks. So the net cost of earning that car is about 10 bucks for me. But I also get the global entry credit every 4 years, so it's even better.
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Re: Bank of America/Merrill Edge - Preferred Rewards
When opening the Merrill Edge and/or BoA checking, does anyone know if Experian, Equifax, Transunion, Chexsystems, and/or Innovis need to be un-frozen?
Re: Bank of America/Merrill Edge - Preferred Rewards
I'm in roughly the same stage of this process as you are. I've found that I can only auto redeem the credit card cash back to either my BoA checking or Merrill account. Manual redemption can be applied as credit card statement credit, but auto cannot! That means I have to log in and "do something" every month anyway, so it might as well be moving money from BoA checking to either credit card statement balance or to another outside account (in my case, Fidelity). Then I should be able to keep $0 balance in checking and keep the account alive due to activity only.Marseille07 wrote: ↑Sat Jul 31, 2021 9:23 pm The question is whether $1 is enough. A poster said $0 got their checking closed, $25 seems OK. Another poster empties their account but they have account activities.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Ah ok. That makes sense. Thanks for sharingBrandonBogle wrote: ↑Fri Jul 30, 2021 6:59 pm The Travel Rewards card came with 1 year 0% on purchases and Premium didn’t (though both also had spend bonuses). I’ve put home renovations on there and stringing along the funds at higher interest elsewhere.
"Anyone who claims to understand quantum theory is either lying or crazy" -- Richard Feynman
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Re: Bank of America/Merrill Edge - Preferred Rewards
Already had a BOA account before freezing everything. So no idea about that. I don't think this is typically needed (Schwab used to do a soft inquiry for opening an online checking account not sure if they still do).anon_investor wrote: ↑Sun Aug 01, 2021 7:22 am When opening the Merrill Edge and/or BoA checking, does anyone know if Experian, Equifax, Transunion, Chexsystems, and/or Innovis need to be un-frozen?
Applying for the Merrill Edge account did not require any unfreezing.
With the credit cards they had to run a check. That said, I actually just applied with my credit still frozen (based on some other comments in this thread). They called me back the next day and told me, "Hey we weren't able to check your credit as it was frozen. Can you please unfreeze?". They gave me a couple options as to which one to unfreeze. So picked one (think it was Experian). Finished the check on the phone and was approved. Card sent out in the mail shortly thereafter.
"Anyone who claims to understand quantum theory is either lying or crazy" -- Richard Feynman
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Re: Bank of America/Merrill Edge - Preferred Rewards
So I just opened Relationship and trying to hook up another bank so I can transfer money. I declined the ATM / Debit card as I don't intend to use this checking account much.
However, when I got to "Add account / recipient" business, I'm hit by this error:
However, when I got to "Add account / recipient" business, I'm hit by this error:
Of course, there isn't one as they gave me an option to opt-out and I opted out. Has anyone seen something like this and if so, what was your solution?Unable to add Secure Transfer.
We are unable to identify a valid debit card on your profile.
Re: Bank of America/Merrill Edge - Preferred Rewards
Don't link it on the BofA site, link it from the other bank.
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Re: Bank of America/Merrill Edge - Preferred Rewards
Whenever I pay CC, I generally let my CC pull from checking. I guess I could try BillPay from Ally, but what's the issue with what I'm trying to do?
Also, iirc somewhere along the sign-up process they asked to transfer money but I was able to simply skip it and now the balance is $0. Is this simply a bluff? "The minimum opening deposit for this account is $100."
I'm trying to transfer some money but they aren't letting me, whining that I don't have a debit card on file (what does it have to do with adding an external bank account anyway, especially when they let me opt-out of a debit card )
Re: Bank of America/Merrill Edge - Preferred Rewards
BofA charges fees for sending ACH's, so it's pretty dumb to use them if you have alternative options:Marseille07 wrote: ↑Sun Aug 01, 2021 9:43 pmWhenever I pay CC, I generally let my CC pull from checking. I guess I could try BillPay from Ally, but what's the issue with what I'm trying to do?
Also, iirc somewhere along the sign-up process they asked to transfer money but I was able to simply skip it and now the balance is $0. Is this simply a bluff? "The minimum opening deposit for this account is $100."
I'm trying to transfer some money but they aren't letting me, whining that I don't have a debit card on file (what does it have to do with adding an external bank account anyway, especially when they let me opt-out of a debit card )
https://www.bankofamerica.com/online-ba ... at5_topic2
- anon_investor
- Posts: 15111
- Joined: Mon Jun 03, 2019 1:43 pm
Re: Bank of America/Merrill Edge - Preferred Rewards
Are these fees waived with Platinum Honors/Relationship checking?tj wrote: ↑Sun Aug 01, 2021 10:07 pmBofA charges fees for sending ACH's, so it's pretty dumb to use them if you have alternative options:Marseille07 wrote: ↑Sun Aug 01, 2021 9:43 pmWhenever I pay CC, I generally let my CC pull from checking. I guess I could try BillPay from Ally, but what's the issue with what I'm trying to do?
Also, iirc somewhere along the sign-up process they asked to transfer money but I was able to simply skip it and now the balance is $0. Is this simply a bluff? "The minimum opening deposit for this account is $100."
I'm trying to transfer some money but they aren't letting me, whining that I don't have a debit card on file (what does it have to do with adding an external bank account anyway, especially when they let me opt-out of a debit card )
https://www.bankofamerica.com/online-ba ... at5_topic2