Bank of America/Merrill Edge - Preferred Rewards

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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Cranberry44 wrote: Tue Jan 04, 2022 4:22 pm
spammagnet wrote: Tue Jan 04, 2022 3:14 pm
Cranberry44 wrote: Tue Jan 04, 2022 3:02 pmIs the CCR still the best card for cashback with the 5.25% cashback on the category of choice (online shopping), or is there a reason to go with Unlimited Cash Rewards for my first card for some reason?
Consider both. Use the CCR for a targeted category and the UCR for everything else. You can have one of each kind of CCR (CCR and Komen) giving you more categories or more capacity on a single category, but I don't know how often they permit you to get another card. I suspect they'll allow getting a CCR and UCR at the same time. I don't know if they allow applying for 2 CCRs at the same time.

If you're married you should apply separately rather than having an authorized user. More new account bonuses, more capacity in the chosen categories. BA has a $2500/quarter spending limit in the combined 2% and 3% categories, per account. (You can spend more but it gets 1%.) If you can, it's better to use it on the target category than to use it for the 2% category.
anon_investor wrote: Tue Jan 04, 2022 3:19 pm
Cranberry44 wrote: Tue Jan 04, 2022 3:02 pm
Cranberry44 wrote: Tue Nov 23, 2021 9:05 am ...
So now that I have 100k in ME, when should I apply for the CC? After I hit PR status?
All righty, I now have platinum honors!

I now want to apply for my first BoA credit card. However, I'm already a bit confused. I was planning on getting a Custom Cash Rewards (CCR) for my first card, but now I'm seeing the Unlimited Cash Rewards Credit, which I didn't previously know about.

Is the CCR still the best card for cashback with the 5.25% cashback on the category of choice (online shopping), or is there a reason to go with Unlimited Cash Rewards for my first card for some reason?

Thanks all! You rock!
You can apply for 2 BoA CCs within 5 minutes of each other and it only counted as 1 credit pull. The best card for you will be based on your CC usage. I think a good starting point is to get 1 CCR and either the UCR or PR card. This will give you access to 5.25% catagories on the CCR and the other card will give you a minimum of 2.62% on all spend (with the PR you can also get 3.5% on dinning/travel, but $95 annual fee, there are some other benefits and you can potentially arbitrage away the annual fee - $100 AA eGC trick).
What the heck -- my application was just denied! I checked my credit score just before submitting the application, 826 and 813. Argh, what a pain in the butt. Now I have to wait for their letter to see why it was rejected. :(
Was your credit frozen? Have you opened a lot of other CCs in the past 12 months?
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

Cranberry44 wrote: Tue Jan 04, 2022 4:22 pmWhat the heck -- my application was just denied! I checked my credit score just before submitting the application, 826 and 813. Argh, what a pain in the butt. Now I have to wait for their letter to see why it was rejected. :(
Some bank credit card departments are amenable to appeals by phone. Call them to see if there's an issue that can be addressed over the phone.
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Cranberry44
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Cranberry44 »

Cubicle wrote: Tue Jan 04, 2022 7:15 pm
Cranberry44 wrote: Tue Jan 04, 2022 4:22 pmWhat the heck -- my application was just denied! I checked my credit score just before submitting the application, 826 and 813. Argh, what a pain in the butt. Now I have to wait for their letter to see why it was rejected. :(
Back of America is trying to limit how much money they are going to have to pay you...

Pull your credit reports to see why. If you can't deduce why, rule out fraud & inaccuracies sooner rather than later.
Pulled my credit... nothing unusual.
anon_investor wrote: Tue Jan 04, 2022 8:56 pm Was your credit frozen? Have you opened a lot of other CCs in the past 12 months?
Credit isn't frozen. I did apply for the Apple a few days ago to take advantage of a promotion for a large purchase I needed to make (new years/anniversary gift...). Maybe that was it. That Apple Card is the only other card I've applied for in the last 12 months.
spammagnet wrote: Wed Jan 05, 2022 8:42 am Some bank credit card departments are amenable to appeals by phone. Call them to see if there's an issue that can be addressed over the phone.
I'll call BoA in the next day or two to try!

Now, when I log into BoA, I get pop-ups saying I'm pre-selected for the card I was just denied. :?

Thanks for your replies!
jayhawkerbeef
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by jayhawkerbeef »

jayhawkerbeef wrote: Tue Jan 04, 2022 1:37 pm
calwatch wrote: Tue Jan 04, 2022 3:19 am I just did a backdoor Roth conversion online without calling in. Their hold time was around 30 minutes and I got another call while I was waiting, so was disconnected when it was my turn. Oops. Put "Roth conversion" in the search box and the e-form is one of the options. I was told when I first did backdoor Roth to keep the traditional IRA account open rather than opening it and closing it every year so there are a few dimes of interest in the traditional IRA that I don't convert. We'll see if it works out so I can trade the funds tomorrow.
Thanks for the tip. Will be interesting to see how long it takes for the conversion to actually complete.
Following-up for anyone else that's tried this, the conversion still hasn't processed and the form request hasn't been assigned, so I called and the representative didn't know when it would process and suggested I do the Roth conversion as I did in prior years by calling.
walkindude
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by walkindude »

anon_investor wrote: Tue Jan 04, 2022 4:14 pm
tj wrote: Tue Jan 04, 2022 3:58 pm
anon_investor wrote: Tue Jan 04, 2022 2:58 pm
Leesbro63 wrote: Tue Jan 04, 2022 2:13 pm
bogosj wrote: Tue Jan 04, 2022 1:49 pm I just checked and my "Airline Incidental Statement Credit" still shows $100 used. I bought a GC in November...
Same here. I bought mine also around then. I'm wondering if this will reset when the January statement billing cycle closes.
Ditto. Purchased my $100 AA eGC in November, and as of today it still shows my $100 "Airline Incidental Statement Credit" as used.
Well the terms say it resets on January 1. I already bought mine for this year so hopefully it gets credited.

Mine also shows the $100 credit as used - purchased late January 2021.
Let us know if you end up getting your $100 statement credit. Are you planning to sell the $100 AA eGC?

I am just going to be extra cautious and wait until the meter resets, I am not so confident in BoA's systems.
I'm curious about the AA eGC popularity here. Doesn't anybody ever have baggage check or seat assignment fees with the major airlines. These (and even the $5.60 per leg fees on Southwest Rapid Rewards points flights) count toward the $100 airline incidental credit. I've always gotten the credit this way, even during COVID.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

walkindude wrote: Thu Jan 06, 2022 7:35 am
anon_investor wrote: Tue Jan 04, 2022 4:14 pm
tj wrote: Tue Jan 04, 2022 3:58 pm
anon_investor wrote: Tue Jan 04, 2022 2:58 pm
Leesbro63 wrote: Tue Jan 04, 2022 2:13 pm

Same here. I bought mine also around then. I'm wondering if this will reset when the January statement billing cycle closes.
Ditto. Purchased my $100 AA eGC in November, and as of today it still shows my $100 "Airline Incidental Statement Credit" as used.
Well the terms say it resets on January 1. I already bought mine for this year so hopefully it gets credited.

Mine also shows the $100 credit as used - purchased late January 2021.
Let us know if you end up getting your $100 statement credit. Are you planning to sell the $100 AA eGC?

I am just going to be extra cautious and wait until the meter resets, I am not so confident in BoA's systems.
I'm curious about the AA eGC popularity here. Doesn't anybody ever have baggage check or seat assignment fees with the major airlines. These (and even the $5.60 per leg fees on Southwest Rapid Rewards points flights) count toward the $100 airline incidental credit. I've always gotten the credit this way, even during COVID.
I try not to check bags on domestic flights (you get a free checked bag on international flights). I don't think I have ever pay for a seat assignment fee that is broken out from the ticket price. The other incidentals like food, etc. are things I usually don't buy. Pre-Covid I only fly maybe once or twice a year at most, so not a lot of opportunity to use the credit.
itgeek
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by itgeek »

I just opened ML account (with $200k), BoA checking account and Elite card. Any idea how long it might take for PH status and how would I find out when PH I have obtained PH?
jayhawkerbeef
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by jayhawkerbeef »

itgeek wrote: Thu Jan 06, 2022 10:32 am I just opened ML account (with $200k), BoA checking account and Elite card. Any idea how long it might take for PH status and how would I find out when PH I have obtained PH?
it's been some time now, but believe it's based on monthly statement cycle for when the account was funded, over a 90 day period. With 200k that PH status should kick-in. others with a more recent experience can maybe chime in and correct me.
Hyperchicken
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Hyperchicken »

itgeek wrote: Thu Jan 06, 2022 10:32 am I just opened ML account (with $200k), BoA checking account and Elite card. Any idea how long it might take for PH status and how would I find out when PH I have obtained PH?
When I opened my ML account, it took few days for it to pick up my PR status which I already had.

PR status is based on 3-month rolling average, updated once a month, so if you only funded the account now, it may take 1-2 months for the average to ramp up.

You can see your current PR level in the top right corner of your online banking screen. If you click on it, it also shows you your current qualifying balance.
sailaway
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by sailaway »

While some people are still reporting a rolling basis (new BoA accounts, perhaps, if so, it sounds like you might get status sooner), the reset date is the fifth. So you will have some status on Feb 5 and full status by March 5.
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

Some new customers report attaining PH status shortly after opening.
walkindude
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by walkindude »

anon_investor wrote: Thu Jan 06, 2022 8:53 am
walkindude wrote: Thu Jan 06, 2022 7:35 am I'm curious about the AA eGC popularity here. Doesn't anybody ever have baggage check or seat assignment fees with the major airlines. These (and even the $5.60 per leg fees on Southwest Rapid Rewards points flights) count toward the $100 airline incidental credit. I've always gotten the credit this way, even during COVID.
I try not to check bags on domestic flights (you get a free checked bag on international flights). I don't think I have ever pay for a seat assignment fee that is broken out from the ticket price. The other incidentals like food, etc. are things I usually don't buy. Pre-Covid I only fly maybe once or twice a year at most, so not a lot of opportunity to use the credit.
Thanks. Makes sense. Pre-COVID, we probably flew 15 flights a year for up to 3 weeks at a time, so always need to check a bag for the long trips. So we've never had an issue yet with spending the credit. Murphy will probably get me this year!
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

walkindude wrote: Thu Jan 06, 2022 1:20 pm
anon_investor wrote: Thu Jan 06, 2022 8:53 am
walkindude wrote: Thu Jan 06, 2022 7:35 am I'm curious about the AA eGC popularity here. Doesn't anybody ever have baggage check or seat assignment fees with the major airlines. These (and even the $5.60 per leg fees on Southwest Rapid Rewards points flights) count toward the $100 airline incidental credit. I've always gotten the credit this way, even during COVID.
I try not to check bags on domestic flights (you get a free checked bag on international flights). I don't think I have ever pay for a seat assignment fee that is broken out from the ticket price. The other incidentals like food, etc. are things I usually don't buy. Pre-Covid I only fly maybe once or twice a year at most, so not a lot of opportunity to use the credit.
Thanks. Makes sense. Pre-COVID, we probably flew 15 flights a year for up to 3 weeks at a time, so always need to check a bag for the long trips. So we've never had an issue yet with spending the credit. Murphy will probably get me this year!
Interesting, with that much flying, is it more advantagous to use a different credit card? Part of the reason for me focusing on cash back, is I don't travel that much.
aj44
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by aj44 »

walkindude wrote: Thu Jan 06, 2022 7:35 am
anon_investor wrote: Tue Jan 04, 2022 4:14 pm
tj wrote: Tue Jan 04, 2022 3:58 pm
anon_investor wrote: Tue Jan 04, 2022 2:58 pm
Leesbro63 wrote: Tue Jan 04, 2022 2:13 pm

Same here. I bought mine also around then. I'm wondering if this will reset when the January statement billing cycle closes.
Ditto. Purchased my $100 AA eGC in November, and as of today it still shows my $100 "Airline Incidental Statement Credit" as used.
Well the terms say it resets on January 1. I already bought mine for this year so hopefully it gets credited.

Mine also shows the $100 credit as used - purchased late January 2021.
Let us know if you end up getting your $100 statement credit. Are you planning to sell the $100 AA eGC?

I am just going to be extra cautious and wait until the meter resets, I am not so confident in BoA's systems.
I'm curious about the AA eGC popularity here. Doesn't anybody ever have baggage check or seat assignment fees with the major airlines. These (and even the $5.60 per leg fees on Southwest Rapid Rewards points flights) count toward the $100 airline incidental credit. I've always gotten the credit this way, even during COVID.
I generally fly Spirit when work isn’t footing the bill, my understanding is their incidentals don’t count for the credit. Only reason I prefer them is Spirit IME has the cheapest upgraded legroom by far.
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

anon_investor wrote: Thu Jan 06, 2022 3:30 pmInteresting, with that much flying, is it more advantagous to use a different credit card? Part of the reason for me focusing on cash back, is I don't travel that much.
Same. I think the last time I was on a plane was around 6 or 7 years ago.
need403bhelp
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by need403bhelp »

itgeek wrote: Thu Jan 06, 2022 10:32 am I just opened ML account (with $200k), BoA checking account and Elite card. Any idea how long it might take for PH status and how would I find out when PH I have obtained PH?
How did you open Elite card?
itgeek
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by itgeek »

itgeek wrote: Thu Jan 06, 2022 10:32 am I just opened ML account (with $200k), BoA checking account and Elite card. Any idea how long it might take for PH status and how would I find out when PH I have obtained PH?
Update: I see PH status in 2 days of opening these accounts.
itgeek
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by itgeek »

need403bhelp wrote: Thu Jan 06, 2022 7:20 pm
itgeek wrote: Thu Jan 06, 2022 10:32 am I just opened ML account (with $200k), BoA checking account and Elite card. Any idea how long it might take for PH status and how would I find out when PH I have obtained PH?
How did you open Elite card?
https://secure.bankofamerica.com/apply- ... le/#/info/
Leesbro63
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

I'm still tracking for a "reset" on the annual $100 "Airline Incidental" credit. My monthly billing cycle ends tomorrow. I'm hoping this will trigger the reset. It would be useful for many of us if others following this track this and post when they see a reset.
walkindude
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by walkindude »

anon_investor wrote: Thu Jan 06, 2022 3:30 pm
walkindude wrote: Thu Jan 06, 2022 1:20 pm
anon_investor wrote: Thu Jan 06, 2022 8:53 am
walkindude wrote: Thu Jan 06, 2022 7:35 am I'm curious about the AA eGC popularity here. Doesn't anybody ever have baggage check or seat assignment fees with the major airlines. These (and even the $5.60 per leg fees on Southwest Rapid Rewards points flights) count toward the $100 airline incidental credit. I've always gotten the credit this way, even during COVID.
I try not to check bags on domestic flights (you get a free checked bag on international flights). I don't think I have ever pay for a seat assignment fee that is broken out from the ticket price. The other incidentals like food, etc. are things I usually don't buy. Pre-Covid I only fly maybe once or twice a year at most, so not a lot of opportunity to use the credit.
Thanks. Makes sense. Pre-COVID, we probably flew 15 flights a year for up to 3 weeks at a time, so always need to check a bag for the long trips. So we've never had an issue yet with spending the credit. Murphy will probably get me this year!
Interesting, with that much flying, is it more advantagous to use a different credit card? Part of the reason for me focusing on cash back, is I don't travel that much.
Traveling is way down post-COVID. I was just about to get the Southwest companion pass when COVID hit. Only traveling about 2-3 times a year now. We'll reevaluate when/if it feels comfortable to fly a lot. Also, I didn't start playing the credit card game till 3-4 years ago.
walkindude
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by walkindude »

aj44 wrote: Thu Jan 06, 2022 4:28 pm
walkindude wrote: Thu Jan 06, 2022 7:35 am
anon_investor wrote: Tue Jan 04, 2022 4:14 pm
tj wrote: Tue Jan 04, 2022 3:58 pm
anon_investor wrote: Tue Jan 04, 2022 2:58 pm

Ditto. Purchased my $100 AA eGC in November, and as of today it still shows my $100 "Airline Incidental Statement Credit" as used.
Well the terms say it resets on January 1. I already bought mine for this year so hopefully it gets credited.

Mine also shows the $100 credit as used - purchased late January 2021.
Let us know if you end up getting your $100 statement credit. Are you planning to sell the $100 AA eGC?

I am just going to be extra cautious and wait until the meter resets, I am not so confident in BoA's systems.
I'm curious about the AA eGC popularity here. Doesn't anybody ever have baggage check or seat assignment fees with the major airlines. These (and even the $5.60 per leg fees on Southwest Rapid Rewards points flights) count toward the $100 airline incidental credit. I've always gotten the credit this way, even during COVID.
I generally fly Spirit when work isn’t footing the bill, my understanding is their incidentals don’t count for the credit. Only reason I prefer them is Spirit IME has the cheapest upgraded legroom by far.
Interesting. Southwest, Delta, American, and United have worked for us. I've only had the PR for about 3 years.
MisterBill
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MisterBill »

walkindude wrote: Fri Jan 07, 2022 7:25 am Interesting. Southwest, Delta, American, and United have worked for us. I've only had the PR for about 3 years.
I found this on The Points Guy website.

Bank of America does not have an official list published that outlines which airlines qualify for the incidental fee credit, though the terms and conditions do specify that only select U.S. carriers qualify. According to some readers and these FlyerTalk data points, Spirit and Sun Country are excluded. The following airlines are known to work:

Alaska
American
Delta
Frontier
Hawaiian
Jet Blue
Southwest
United
That list is very similar to Amex’s list of qualifying airlines (with the exception of Spirit Airlines, which the Amex fee does cover).
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BrandonBogle
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by BrandonBogle »

MisterBill wrote: Fri Jan 07, 2022 9:53 am
walkindude wrote: Fri Jan 07, 2022 7:25 am Interesting. Southwest, Delta, American, and United have worked for us. I've only had the PR for about 3 years.
I found this on The Points Guy website.

Bank of America does not have an official list published that outlines which airlines qualify for the incidental fee credit, though the terms and conditions do specify that only select U.S. carriers qualify. According to some readers and these FlyerTalk data points, Spirit and Sun Country are excluded. The following airlines are known to work:

Alaska
American
Delta
Frontier
Hawaiian
Jet Blue
Southwest
United
That list is very similar to Amex’s list of qualifying airlines (with the exception of Spirit Airlines, which the Amex fee does cover).
It would be great if it worked with Spirit. I was looking at a flight yesterday that wanted $40 for a carry-on, each way. Once I added everything, it was only $40 to fly Delta.
need403bhelp
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by need403bhelp »

itgeek wrote: Fri Jan 07, 2022 2:53 am
need403bhelp wrote: Thu Jan 06, 2022 7:20 pm
itgeek wrote: Thu Jan 06, 2022 10:32 am I just opened ML account (with $200k), BoA checking account and Elite card. Any idea how long it might take for PH status and how would I find out when PH I have obtained PH?
How did you open Elite card?
https://secure.bankofamerica.com/apply- ... le/#/info/
Hmm, that link gives me an error
Lastrun
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

So take all of this with a grain of salt.

Based on what I read from BofA in press announcements and from forums like Dr. of Credit and Flyer Talk, the card was initially intended as part of Project Thunder to recognize, reward, appreciate, HNW Merrill folks above $1.0m. So I suspect they all got offers and a link was provided.

Someone posted the link above on Dr. of Credit and when I first hit the link it worked, but I did not apply. Later, it was shutdown, as it does when you click the link above.

When the card will be open to the public, I have no idea, but posts on Flyertalk indicate mid-February.

The card is not that great, but for folks who have the Premium Rewards and with the streaming credit you are halfway into the annual fee.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Lastrun wrote: Fri Jan 07, 2022 11:52 am So take all of this with a grain of salt.

Based on what I read from BofA in press announcements and from forums like Dr. of Credit and Flyer Talk, the card was initially intended as part of Project Thunder to recognize, reward, appreciate, HNW Merrill folks above $1.0m. So I suspect they all got offers and a link was provided.

Someone posted the link above on Dr. of Credit and when I first hit the link it worked, but I did not apply. Later, it was shutdown, as it does when you click the link above.

When the card will be open to the public, I have no idea, but posts on Flyertalk indicate mid-February.

The card is not that great, but for folks who have the Premium Rewards and with the streaming credit you are halfway into the annual fee.
Is the PR Elite card even worth it over the PR card?
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

anon_investor wrote: Fri Jan 07, 2022 3:30 pmIs the PR Elite card even worth it over the PR card?
Not to me. I wouldn't expect to be able to use the full credit to offset the much higher annual fee, and I'm skeptical of using BoA's air travel portal and don't fly enough for it to make a difference anyway. Your mileage may vary, of course.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

FedGuy wrote: Fri Jan 07, 2022 3:36 pm
anon_investor wrote: Fri Jan 07, 2022 3:30 pmIs the PR Elite card even worth it over the PR card?
Not to me. I wouldn't expect to be able to use the full credit to offset the much higher annual fee, and I'm skeptical of using BoA's air travel portal and don't fly enough for it to make a difference anyway. Your mileage may vary, of course.
Yeah, definitely not worth it for me. I am just happy I got the PR annual fee effectively down to $11.50. The much higher fee for the PR Elite seems to be a much higher barrier to overcome. Now if the PR Elite offer 3% cash back on all purchases... that would be a totally different story!
itgeek
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by itgeek »

need403bhelp wrote: Fri Jan 07, 2022 11:37 am
itgeek wrote: Fri Jan 07, 2022 2:53 am
need403bhelp wrote: Thu Jan 06, 2022 7:20 pm
itgeek wrote: Thu Jan 06, 2022 10:32 am I just opened ML account (with $200k), BoA checking account and Elite card. Any idea how long it might take for PH status and how would I find out when PH I have obtained PH?
How did you open Elite card?
https://secure.bankofamerica.com/apply- ... le/#/info/
Hmm, that link gives me an error
I see link is not working now. I used it 2 days ago and already got the cards delivered by UPS in a beautiful packaging. Very happy with BoA/Merrill/Elite Card setup so far. Will be closing Chase Sapphire Reserve card soon.
calwatch
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by calwatch »

jayhawkerbeef wrote: Wed Jan 05, 2022 9:45 am
jayhawkerbeef wrote: Tue Jan 04, 2022 1:37 pm
calwatch wrote: Tue Jan 04, 2022 3:19 am I just did a backdoor Roth conversion online without calling in. Their hold time was around 30 minutes and I got another call while I was waiting, so was disconnected when it was my turn. Oops. Put "Roth conversion" in the search box and the e-form is one of the options. I was told when I first did backdoor Roth to keep the traditional IRA account open rather than opening it and closing it every year so there are a few dimes of interest in the traditional IRA that I don't convert. We'll see if it works out so I can trade the funds tomorrow.
Thanks for the tip. Will be interesting to see how long it takes for the conversion to actually complete.
Following-up for anyone else that's tried this, the conversion still hasn't processed and the form request hasn't been assigned, so I called and the representative didn't know when it would process and suggested I do the Roth conversion as I did in prior years by calling.
I didn't call and the conversion processed this afternoon. A slight benefit since the market moved down during the week I was processing, but of course it could have gone the other way as well. And I didn't have to wait on hold. I may do this next year, assuming current laws hold.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Has anyone with the PR had their "Airline Incidental Statement Credit" meter reset yet?
MisterBill
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MisterBill »

anon_investor wrote: Sun Jan 09, 2022 8:28 pm Has anyone with the PR had their "Airline Incidental Statement Credit" meter reset yet?
That always take a while to reset in the new year.
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

MisterBill wrote: Mon Jan 10, 2022 12:20 am
anon_investor wrote: Sun Jan 09, 2022 8:28 pm Has anyone with the PR had their "Airline Incidental Statement Credit" meter reset yet?
That always take a while to reset in the new year.
But the timeline to reset credit for eligible purchase starts on Jan 1 right?
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

tj wrote: Mon Jan 10, 2022 1:08 pm
MisterBill wrote: Mon Jan 10, 2022 12:20 am
anon_investor wrote: Sun Jan 09, 2022 8:28 pm Has anyone with the PR had their "Airline Incidental Statement Credit" meter reset yet?
That always take a while to reset in the new year.
But the timeline to reset credit for eligible purchase starts on Jan 1 right?
That is what I thought, but I rather be safe than sorry. My meter hasn't reset as of today.
Lastrun
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

I read my T&C and it states "each calendar year" so the answer is yes, but my T&C is scanned from 2019. If I recall right, BofA does not put this info out there in an easy place to find it.
Leesbro63
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

anon_investor wrote: Mon Jan 10, 2022 1:53 pm
tj wrote: Mon Jan 10, 2022 1:08 pm
MisterBill wrote: Mon Jan 10, 2022 12:20 am
anon_investor wrote: Sun Jan 09, 2022 8:28 pm Has anyone with the PR had their "Airline Incidental Statement Credit" meter reset yet?
That always take a while to reset in the new year.
But the timeline to reset credit for eligible purchase starts on Jan 1 right?
That is what I thought, but I rather be safe than sorry. My meter hasn't reset as of today.
My meter also has NOT reset, although my statement closed yesterday. It's only $100 so I'll wait...even if until later in the year. It's not worth getting into a whistling match over if I do it early and don't get the refund. But it's still $100...so I'll just wait and assume the meter will reset sooner or later.
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

Leesbro63 wrote: Mon Jan 10, 2022 2:19 pm
anon_investor wrote: Mon Jan 10, 2022 1:53 pm
tj wrote: Mon Jan 10, 2022 1:08 pm
MisterBill wrote: Mon Jan 10, 2022 12:20 am
anon_investor wrote: Sun Jan 09, 2022 8:28 pm Has anyone with the PR had their "Airline Incidental Statement Credit" meter reset yet?
That always take a while to reset in the new year.
But the timeline to reset credit for eligible purchase starts on Jan 1 right?
That is what I thought, but I rather be safe than sorry. My meter hasn't reset as of today.
My meter also has NOT reset, although my statement closed yesterday. It's only $100 so I'll wait...even if until later in the year. It's not worth getting into a whistling match over if I do it early and don't get the refund. But it's still $100...so I'll just wait and assume the meter will reset sooner or later.
Of course it will reset. The question is if it's relevant if you wait for the meter to reset before purchasing $100 again....we shall see, as I already made the purchase.
Leesbro63
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

tj wrote: Mon Jan 10, 2022 2:50 pm
Leesbro63 wrote: Mon Jan 10, 2022 2:19 pm
anon_investor wrote: Mon Jan 10, 2022 1:53 pm
tj wrote: Mon Jan 10, 2022 1:08 pm
MisterBill wrote: Mon Jan 10, 2022 12:20 am

That always take a while to reset in the new year.
But the timeline to reset credit for eligible purchase starts on Jan 1 right?
That is what I thought, but I rather be safe than sorry. My meter hasn't reset as of today.
My meter also has NOT reset, although my statement closed yesterday. It's only $100 so I'll wait...even if until later in the year. It's not worth getting into a whistling match over if I do it early and don't get the refund. But it's still $100...so I'll just wait and assume the meter will reset sooner or later.
Of course it will reset. The question is if it's relevant if you wait for the meter to reset before purchasing $100 again....we shall see, as I already made the purchase.
Please let us know if/when you get the credit. And if it's before or after the meter resets.
tj
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Joined: Wed Dec 23, 2009 11:10 pm

Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

Leesbro63 wrote: Mon Jan 10, 2022 3:00 pm
tj wrote: Mon Jan 10, 2022 2:50 pm
Leesbro63 wrote: Mon Jan 10, 2022 2:19 pm
anon_investor wrote: Mon Jan 10, 2022 1:53 pm
tj wrote: Mon Jan 10, 2022 1:08 pm

But the timeline to reset credit for eligible purchase starts on Jan 1 right?
That is what I thought, but I rather be safe than sorry. My meter hasn't reset as of today.
My meter also has NOT reset, although my statement closed yesterday. It's only $100 so I'll wait...even if until later in the year. It's not worth getting into a whistling match over if I do it early and don't get the refund. But it's still $100...so I'll just wait and assume the meter will reset sooner or later.
Of course it will reset. The question is if it's relevant if you wait for the meter to reset before purchasing $100 again....we shall see, as I already made the purchase.
Please let us know if/when you get the credit. And if it's before or after the meter resets.
I will. Last year I purchased on 2/1 and got the credit posted on 2/4, this year I purchased on 1/3, and nothing yet. We shall see.
itgeek
Posts: 71
Joined: Sun Dec 08, 2013 10:45 pm

Re: Bank of America/Merrill Edge - Preferred Rewards

Post by itgeek »

Newbie question : Opened BoA/ME accounts recently and I see PH tier assigned already.

However, PR points being posted daily as card is used are coming in at 1.5%. Is there a delay in getting 75% pH boost points or may be boost comes once a month when card cycle is complete?
MisterBill
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MisterBill »

itgeek wrote: Tue Jan 11, 2022 7:57 am Newbie question : Opened BoA/ME accounts recently and I see PH tier assigned already.

However, PR points being posted daily as card is used are coming in at 1.5%. Is there a delay in getting 75% pH boost points or may be boost comes once a month when card cycle is complete?
The 75% is credited when the charge posts. When you go to the main page for the credit card on the website, you should see a box on the right that says

"Bank of America Preferred Rewards PLATINUM HONORS
BANK OF AMERICA PREFERRED REWARDS
PLATINUM HONORS

You're eligible for a 75%
credit card rewards
bonus"

Are you seeing that?

Also, when viewing the transactions in the Rewards tab, you should see "RELATIONSHIP BONUS: Preferred Rewards - 75% Bonus" for each entry when you expand it.
ebeb
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by ebeb »

I seem to be going in reverse, I was Platinum Honors Rewards for a long time with 75% boost, but got downgraded to Platinum and now down to Gold Rewards. Waiting for Silver hopefully not too long :shock:
80% VOO | 20% BND+TBILL+CASH | Don't believe Nobody because Nobody knows nothin' - Anon
MisterBill
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Joined: Thu Dec 24, 2015 2:21 pm

Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MisterBill »

ebeb wrote: Tue Jan 11, 2022 8:43 pm I seem to be going in reverse, I was Platinum Honors Rewards for a long time with 75% boost, but got downgraded to Platinum and now down to Gold Rewards. Waiting for Silver hopefully not too long :shock:
What level should you be based on your current deposits? How long did you stay at each level before being downgraded?
itgeek
Posts: 71
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by itgeek »

MisterBill wrote: Tue Jan 11, 2022 7:59 pm
itgeek wrote: Tue Jan 11, 2022 7:57 am Newbie question : Opened BoA/ME accounts recently and I see PH tier assigned already.

However, PR points being posted daily as card is used are coming in at 1.5%. Is there a delay in getting 75% pH boost points or may be boost comes once a month when card cycle is complete?
The 75% is credited when the charge posts. When you go to the main page for the credit card on the website, you should see a box on the right that says

"Bank of America Preferred Rewards PLATINUM HONORS
BANK OF AMERICA PREFERRED REWARDS
PLATINUM HONORS

You're eligible for a 75%
credit card rewards
bonus"

Are you seeing that?

Also, when viewing the transactions in the Rewards tab, you should see "RELATIONSHIP BONUS: Preferred Rewards - 75% Bonus" for each entry when you expand it.
On the CC page, I see box on the right which says "You're eligible for a 75% credit card rewards bonus"
However, in the rewards tab, with each transaction entry, I don't see any bonus applied. When I click on Bonus, its blank.

Will call the customer service tomorrow. Noticed, its hard to find a live rep when calling BoA for such questions. Does BoA has a different line for PH members?
MisterBill
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MisterBill »

itgeek wrote: Tue Jan 11, 2022 8:55 pm Will call the customer service tomorrow. Noticed, its hard to find a live rep when calling BoA for such questions. Does BoA has a different line for PH members?
Yes, I believe that they do. I usually call from the app, it dials some number and sends tones to route me to the correct person.
ebeb
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by ebeb »

MisterBill wrote: Tue Jan 11, 2022 8:51 pm What level should you be based on your current deposits? How long did you stay at each level before being downgraded?
Was PH rewards for about 2-3 years but since I only have $5k now in checking so they downgrade every 6 months or so to lowest level possible.
80% VOO | 20% BND+TBILL+CASH | Don't believe Nobody because Nobody knows nothin' - Anon
cvsvm2007
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by cvsvm2007 »

Folks,

I having a real tough time transferring my funds from Vanguard to ME. One of my requests was seen only on my webpage and I resubmitted the same request with a different quantity and this is also seen only on my webpage. These requests cannot be seen on ME side. Other than the two zombie requests, one transfer request did go through. Spoken with multiple reps and they could see the issue and were unable to fix it. Did any of you face this issue? Every time, I am spending almost an hour on phone with them. Any pointers will be appreciated.

Thanks
MisterBill
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Joined: Thu Dec 24, 2015 2:21 pm

Re: Bank of America/Merrill Edge - Preferred Rewards

Post by MisterBill »

cvsvm2007 wrote: Tue Jan 11, 2022 10:12 pm Folks,

I having a real tough time transferring my funds from Vanguard to ME. One of my requests was seen only on my webpage and I resubmitted the same request with a different quantity and this is also seen only on my webpage. These requests cannot be seen on ME side. Other than the two zombie requests, one transfer request did go through. Spoken with multiple reps and they could see the issue and were unable to fix it. Did any of you face this issue? Every time, I am spending almost an hour on phone with them. Any pointers will be appreciated.

Thanks
So you submitted on the Vanguard side? You might want to ask in a VG thread. Have you tried pulling the assets from the Merrill side instead? That seems to work well.
Last edited by MisterBill on Tue Jan 11, 2022 11:21 pm, edited 1 time in total.
hap_ca
Posts: 73
Joined: Sat Jun 09, 2018 3:42 pm

Re: Bank of America/Merrill Edge - Preferred Rewards

Post by hap_ca »

cvsvm2007 wrote: Tue Jan 11, 2022 10:12 pm Folks,

I having a real tough time transferring my funds from Vanguard to ME. One of my requests was seen only on my webpage and I resubmitted the same request with a different quantity and this is also seen only on my webpage. These requests cannot be seen on ME side. Other than the two zombie requests, one transfer request did go through. Spoken with multiple reps and they could see the issue and were unable to fix it. Did any of you face this issue? Every time, I am spending almost an hour on phone with them. Any pointers will be appreciated.

Thanks
There’s no need to deal with Vanguard at all. You can initiate everything online from the ME side. I moved all my holdings to Fidelity and ME after being a Vanguard customer for decades. They did not even call to make sure the transfer requests were legitimate
User avatar
anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

hap_ca wrote: Tue Jan 11, 2022 11:12 pm
cvsvm2007 wrote: Tue Jan 11, 2022 10:12 pm Folks,

I having a real tough time transferring my funds from Vanguard to ME. One of my requests was seen only on my webpage and I resubmitted the same request with a different quantity and this is also seen only on my webpage. These requests cannot be seen on ME side. Other than the two zombie requests, one transfer request did go through. Spoken with multiple reps and they could see the issue and were unable to fix it. Did any of you face this issue? Every time, I am spending almost an hour on phone with them. Any pointers will be appreciated.

Thanks
There’s no need to deal with Vanguard at all. You can initiate everything online from the ME side. I moved all my holdings to Fidelity and ME after being a Vanguard customer for decades. They did not even call to make sure the transfer requests were legitimate
+1. I have made 2 separate ACATS transfers from VG to ME, both initiated via the ME website. Both went smoothly, no contact from Vanguard, both took about a week with the cost basis properly transferring over from VG to ME.
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