Bank of America/Merrill Edge - Preferred Rewards

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

Post by FedGuy »

spammagnet wrote: Sat Jan 01, 2022 8:14 pmNot to dispute your concerns about bank info, in general, isn't giving them a physical check the same thing? They need routing and account numbers and would get it either way. If you object to the former, shouldn't you object to the latter?
Fair point. I guess I just figured that PayPal was another layer removed from my actual bank account, and might therefore be somewhat safer. But I'm willing to chalk it up to paranoia either way.

Edited to add: In re-reading my message that you responded to, I should clarify that Card Cash was willing to mail me a check with the proceeds from my gift card sale, but they indicated that that would take a while.
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

FedGuy wrote: Sat Jan 01, 2022 8:19 pm
spammagnet wrote: Sat Jan 01, 2022 8:14 pmNot to dispute your concerns about bank info, in general, isn't giving them a physical check the same thing? They need routing and account numbers and would get it either way. If you object to the former, shouldn't you object to the latter?
Fair point. I guess I just figured that PayPal was another layer removed from my actual bank account, and might therefore be somewhat safer. But I'm willing to chalk it up to paranoia either way.

Edited to add: In re-reading my message that you responded to, I should clarify that Card Cash was willing to mail me a check with the proceeds from my gift card sale, but they indicated that that would take a while.
I read it as you would send them a physical check. Excuse my misreading. (I was puzzled.)
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jeffyscott
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by jeffyscott »

spammagnet wrote: Sat Jan 01, 2022 8:10 pm
jeffyscott wrote: Sat Jan 01, 2022 3:57 pm Would it not be only dining and travel that could potentially make the card worth anything at all (and only if you can't choose those categories on a CCR card)? You can get the 1.5%/2.65% from a no fee B of A card.
As for the "can't choose those categories on a CCR card", for some people that may mean they've saturated the CCR cards they have available, and don't have space for travel within their bonus cap.
Right, "can't" could mean either other categories are preferable for them to use or they do have travel and dining categories selected, but do more than $2500 per quarter of dining and travel.

I've not yet joined the preferred rewards club, but for me that card would not be worth bothering with even with a net fee of $15 (and the added hassle of playing games with AA gift cards to reduce the effective annual fee to that level). We already get at least 3% on all travel and dining with Costco or other cards and we don't spend a huge amount in those categories, even when there's no pandemic. And any amount of spending in all other categories gets equal or better rebates with no annual fee cards.
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

jeffyscott wrote: Sun Jan 02, 2022 7:27 amI've not yet joined the preferred rewards club, but for me that card would not be worth bothering with even with a net fee of $15 (and the added hassle of playing games with AA gift cards to reduce the effective annual fee to that level). We already get at least 3% on all travel and dining with Costco or other cards and we don't spend a huge amount in those categories, even when there's no pandemic. And any amount of spending in all other categories gets equal or better rebates with no annual fee cards.
BoA recently introduced the "Unlimited Cash Rewards" card. It's like the Premium Rewards card (1.5% cash back on everything, which increases with BoA's preferred rewards program up to a maximum of 2.625% cash back on everything), but with no annual fee, no goofy "airline incidentals" credit, and no higher cash back on travel and dining, but with a foreign transaction fee. I opted for the PR instead of the UCR because I have a large upcoming expense that would qualify for the PR's sign-up bonus, which is $500 vs. UCR's $200, and because I don't have a better travel rewards card. But if I already had good travel rewards card, didn't want an annual fee, and didn't want to play dumb games with buying and reselling gift cards, I definitely would have applied for the UCR simply for the 2.625% cash back in those admittedly few categories I don't have better cards for.
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

jeffyscott wrote: Sun Jan 02, 2022 7:27 am... I've not yet joined the preferred rewards club, but for me that card would not be worth bothering with even with a net fee of $15 (and the added hassle of playing games with AA gift cards ...
If you're referring to Premium Rewards, both DW and I had one, but only for one year, to get the new account bonus. If you're referring to Preferred Rewards more broadly, their added value is in the higher tiers. If you're at retirement like me, or have other wealth, it's easy to leave some dormant ETFs at Merrill. If you're not there yet, your efforts are best directed elsewhere.
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jeffyscott
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by jeffyscott »

spammagnet wrote: Sun Jan 02, 2022 9:02 am
jeffyscott wrote: Sun Jan 02, 2022 7:27 am... I've not yet joined the preferred rewards club, but for me that card would not be worth bothering with even with a net fee of $15 (and the added hassle of playing games with AA gift cards ...
If you're referring to Premium Rewards, both DW and I had one, but only for one year, to get the new account bonus. If you're referring to Preferred Rewards more broadly, their added value is in the higher tiers. If you're at retirement like me, or have other wealth, it's easy to leave some dormant ETFs at Merrill. If you're not there yet, your efforts are best directed elsewhere.
Both, preferred rewards is what I have not joined yet, but may do so in future and "that card" was referring to the premium rewards card, that has a $95 annual fee. I am retired and may stick some Roth money there for the 75% bonus on credit card rebates, after it finishes earning a bonus at it's current location.
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

jeffyscott wrote: Sun Jan 02, 2022 9:15 am… I am retired and may stick some Roth money there for the 75% bonus on credit card rebates, after it finishes earning a bonus at it's current location. …
That's exactly what we did. We opened IRAs at ME to get Platinum Honors status. After achieving that, moved most to ETrade for a big bonus there.

As long as the ME account and a BA checking account (joint is fine) remain open, you get to keep the PH status until your anniversary approaches. At that point you have to reestablish the 3 month average but you get 3 months' notice, so it needn't lapse if your assets are movable.

My PH status lapsed but the ETrade bonus was more valuable. After getting that, I moved some back and should get back to PH shortly.

There's no benefit to more than one account (for each owner) at ME because PH status is based on aggregate balance.
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dual
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Post by dual »


BoA recently introduced the "Unlimited Cash Rewards" card. It's like the Premium Rewards card (1.5% cash back on everything, which increases with BoA's preferred rewards program up to a maximum of 2.625% cash back on everything), but with no annual fee, no goofy "airline incidentals" credit, and no higher cash back on travel and dining, but with a foreign transaction fee
here's a link to the offer page for this credit card

https://www.bankofamerica.com/credit-c ... it-card/
Last edited by dual on Sun Jan 02, 2022 10:56 am, edited 1 time in total.
sailaway
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Re:

Post by sailaway »

dual wrote: Sun Jan 02, 2022 10:52 am

BoA recently introduced the "Unlimited Cash Rewards" card. It's like the Premium Rewards card (1.5% cash back on everything, which increases with BoA's preferred rewards program up to a maximum of 2.625% cash back on everything), but with no annual fee, no goofy "airline incidentals" credit, and no higher cash back on travel and dining, but with a foreign transaction fee
I would appreciate a link to the offer page for this credit card.

https://www.bankofamerica.com/credit-cards/

It's on top for me, hopefully that isn't a cookie thing.
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dual
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Post by dual »

sailaway wrote: Sun Jan 02, 2022 10:54 am
I would appreciate a link to the offer page for this credit card.



https://www.bankofamerica.com/credit-cards/

It's on top for me, hopefully that isn't a cookie thing.
thanks, I found it and edited my post.

Edit. Does anyone know what credit reporting services BofA uses?
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

FedGuy wrote: Sun Jan 02, 2022 7:59 am... BoA recently introduced the "Unlimited Cash Rewards" card. … I opted for the PR instead of the UCR because I have a large upcoming expense that would qualify for the PR's sign-up bonus, which is $500 vs. UCR's $200, ...
Prompted by your description I looked at the UCR card online without logging into BA. It showed the $200 bonus. After signing into my account to start the application, my "special deals and offers" shows that card as offering a $500 new account bonus. I'll take it.

My point is to check there first, if you already have a BA account.

It may be relevant to some that the UCR card is Mastercard, not Visa. Some vendors don't accept Mastercard, but I think those are in the minority.

IMPORTANT EDIT: I missed the word "business" in the title of the card being offered. I could apply as a sole proprietor, but I'm really not in business and can't honestly say I am.
RookieInvestor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by RookieInvestor »

FedGuy wrote: Sat Jan 01, 2022 7:53 am
RookieInvestor wrote: Sat Jan 01, 2022 12:51 am Where does one check for this American Airlines GC offer in Bofa preferred rewards account? I have platinum honors but I don't see this offer in my online account. What am I missing?
Also, just to make sure we're on the same page, you're referring to the BoA Premium Rewards credit card, right? The "Preferred Rewards" program is the name of BoA's program of awarding benefits to people with $20,000+ at BoA and ML; the $100 "airline incidental" reimbursement is a feature of the Premium Rewards credit card, not the Preferred Rewards program.

Edited to add: it drives me nuts that BoA used such similar names for their programs and products. I could also never keep straight the difference between Citi's "Prestige" and "Premier" cards, or Marriott Bonvoy's "Brilliant," "Bold," and "Boundless." Alliteration is fun, but not at the expense of customer confusion.
Thanks for your response. This is what I see from the rewards page (yes, I have premium rewards visa credit card)
Premium Benefits:
Get up to $200 in combined Airline incidental and TSA
Pre ✔* Global Entry Statement Credits
Premium Travel/Purchase Benefits
Visa Signature® Luxury Hotel Collection
Visa® Concierge Service

Is this what you are referring to?
So idea is to buy AA GC or any other Airlines incidental expense using this credit card and Boa will automatically credit up to $100 to the account?

Thanks again
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

RookieInvestor wrote: Sun Jan 02, 2022 7:10 pmIs this what you are referring to?
So idea is to buy AA GC or any other Airlines incidental expense using this credit card and Boa will automatically credit up to $100 to the account?
Yes. If you use the Premium Rewards card to buy an AA gift card for $100, a few days later BoA will credit the $100 back to your Premium Rewards card. You can then use the gift card, or resell it.

(By the way, I've read that if you buy a gift card for more than $100, this might not work.)
isira
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by isira »

RookieInvestor wrote: Sun Jan 02, 2022 7:10 pm So idea is to buy AA GC or any other Airlines incidental expense using this credit card and Boa will automatically credit up to $100 to the account?

Thanks again
Yes. See https://www.doctorofcredit.com/triggers ... el-credit/
cvsvm2007
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by cvsvm2007 »

VictorStarr wrote: Mon Dec 20, 2021 2:56 pm I had a strange experience with prolonged hold on payment of BofA credit card:
- I used my Premium card to make an estimated tax payment ($12,000) and on 12/12/2021 scheduled an electronic bill payment from my Fidelity account.
- Two days later on 12/14/2021 $12K was debited from Fido account and credited to my Premium CC.
- But the next day (12/15/2021) BofA initiated a hold on the $12K payment and decreased available balance by $12K (Description: “PMNT RECEIVED: PROCESSING”, Note: “Pending payments (Pending Pymt) a payment we received from you and is in the process of posting to your account”.)

I called them twice and asked why they put a hold on my payment. I received generic answer that processing takes some time and my account would be credited in "two days" (two days from today would be 12/22/2021). They did not give me an explanation why there is a hold on my payment.
BTW, over the last 30 days I did another two estimated payments ($10K and $12.5K), did a bill payment from the same Fidelity account and did not experience any hold.

Does anybody else have experienced prolonged hold time on credit card payments?
I see there are discussions about making Est Taxes using the CC. I am quoting the above post as an example and planning to follow the method. Can someone please clarify that est tax payments fall under the 5% category?

Thanks
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

cvsvm2007 wrote: Sun Jan 02, 2022 7:58 pmI see there are discussions about making Est Taxes using the CC. I am quoting the above post as an example and planning to follow the method. Can someone please clarify that est tax payments fall under the 5% category?
Estimated taxes do not fall under the 5% 3% category; Visa gift cards purchased online at Simon.com do, if you select online shopping as your preferred category. Use those to pay taxes here. There are fees involved but if you have Platinum Honors (PH) status, you can come out ahead. Only if you have PH does the 3% category result in 5.25% credit.

Edit: clarifying language about "5%" reward.
Last edited by spammagnet on Sun Jan 02, 2022 8:44 pm, edited 1 time in total.
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

cvsvm2007 wrote: Sun Jan 02, 2022 7:58 pmI see there are discussions about making Est Taxes using the CC. I am quoting the above post as an example and planning to follow the method. Can someone please clarify that est tax payments fall under the 5% category?
There is no 5% category, at least not for the Premium Rewards card. If you're referring to the Customized Cash Reward's "online shopping" category (which can yield 5.25% cash back in the selected category if you have Platinum Honors status), taxes are excluded. The terms and conditions include the following as items that do NOT count as "online shopping":

Government Services and Taxes

Court Cost Including Alimony and Child Support
Gambling – Government-Owned Lotteries
Government Administrative Entities Fines
Government Services (not elsewhere classified)
Intra-Government Purchase (Government Only)
Postage Services (Government Only)
Tax Payments
Tax Preparation Service
JackoC
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by JackoC »

anon_investor wrote: Fri Dec 31, 2021 9:28 pm Does anyone know for the Customized Cash Rewards Visa whether transaction date or the post date determines which quarterly bonus catagory cap (3.5%/5.25% cash back) it falls under?

I have a few purchases made this week (last week of December 2021) which do not like they will post until next week (first week of January 2022). I am trying to determine if they will eat into my January 1, 2022 to March 31, 2022 $2.5k cap for bonus catagories (3.5%/5.25% cash back), or whether those purchase will count as part of the October 1, 2021 to December 31, 2021 $2.5k cap for bonus catagories (3.5%/5.25% cash back).
I've also wondered that and not been able to find a definitive answer nor have I bothered to carefully experiment to determine the answer. But on page 2 of the program rules, it notes that if you change the 5.25% category of a CCR card on a given date, transactions made before that date in the new category will not be included in the change even if they post on or after the change date. The implication might be that the transaction date is also what governs for the $2.5k per quarter limit.
https://www.managerewardsonline.bankofa ... _D_ADA.pdf
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

JackoC wrote: Sun Jan 02, 2022 8:50 pm
anon_investor wrote: Fri Dec 31, 2021 9:28 pm Does anyone know for the Customized Cash Rewards Visa whether transaction date or the post date determines which quarterly bonus catagory cap (3.5%/5.25% cash back) it falls under?

I have a few purchases made this week (last week of December 2021) which do not like they will post until next week (first week of January 2022). I am trying to determine if they will eat into my January 1, 2022 to March 31, 2022 $2.5k cap for bonus catagories (3.5%/5.25% cash back), or whether those purchase will count as part of the October 1, 2021 to December 31, 2021 $2.5k cap for bonus catagories (3.5%/5.25% cash back).
I've also wondered that and not been able to find a definitive answer nor have I bothered to carefully experiment to determine the answer. But on page 2 of the program rules, it notes that if you change the 5.25% category of a CCR card on a given date, transactions made before that date in the new category will not be included in the change even if they post on or after the change date. The implication might be that the transaction date is also what governs for the $2.5k per quarter limit.
https://www.managerewardsonline.bankofa ... _D_ADA.pdf
Interesting. I am tracking my bonus catagory spending on a spreadsheet, so I will keep the charges that have not posted before 1/1/2022 for this quarter and just try to stay under the cap.
JackoC
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by JackoC »

spammagnet wrote: Sat Jan 01, 2022 8:10 pm
jeffyscott wrote: Sat Jan 01, 2022 3:57 pm Would it not be only dining and travel that could potentially make the card worth anything at all (and only if you can't choose those categories on a CCR card)? You can get the 1.5%/2.65% from a no fee B of A card.
As for the "can't choose those categories on a CCR card", for some people that may mean they've saturated the CCR cards they have available, and don't have space for travel within their bonus cap.
The maximization function gets complicated at a certain point (at which point some people would reasonably say, 'this isn't worth thinking about further' :happy ).

But, let's say you want to optimize, fairly indifferent to hoop jumping. Let's also say, to limit the permutations, you do get or keep a PR card (3.5% on travel/dining) and are willing to offset the $95 fee with the $100 AA eGC credit. Though Costco Citi card (3% dining/travel, we have it too but generally only use it to get extended warranties at Costco) might be substituted.

Then, you are probably going to want to use as much CCR capacity as possible to buy Simon gift cards, assuming you have at least a few $1k/qtr to pay in combination of estimated taxes and/or actual $1k gifts you'd make with cash/check otherwise. On taxes the Simon maneuver may net 4.365% (a pair I just bought, 50% fee sale) after Simon's fees and lowest payment processor DC fee vs. 0.717% net using PR at the lowest CC convenience fee, 3.65% pick up. On actual gifts it could be 4.57% more than nothing on cash/check.

Using CCR for 'real' online shopping picks up only 2.625% (5.25%-2.625% using UCR/PR instead), restaurant/online travel booking only 5.25%-3.5%=1.75%, supermarket marginal, 3.5%-2.625%. Optimal $ use of CCR, in applicable tax/gift situation and w/ some tolerance for hoop jumping, would prioritize Simon cards, at least for $2k/card/qtr, so you'd often get value out of PR's 3.5% categories as next best (with a little more hassle to cancel out the annual fee).
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

JackoC wrote: Sun Jan 02, 2022 10:07 pm... Using CCR for 'real' online shopping picks up only 2.625% (5.25%-2.625% using UCR/PR instead), restaurant/online travel booking only 5.25%-3.5%=1.75%, supermarket marginal, 3.5%-2.625%. ...
I'm unclear on what you mean by "using UCR/PR instead", and related math.
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jeffyscott
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by jeffyscott »

spammagnet wrote: Sun Jan 02, 2022 11:39 pm
JackoC wrote: Sun Jan 02, 2022 10:07 pm... Using CCR for 'real' online shopping picks up only 2.625% (5.25%-2.625% using UCR/PR instead), restaurant/online travel booking only 5.25%-3.5%=1.75%, supermarket marginal, 3.5%-2.625%. ...
I'm unclear on what you mean by "using UCR/PR instead", and related math.
Those two cards get 1.5% on general spending, which becomes 2.65%, with the 75% bonus vs. using a CCR category to get 3%/5.25%.
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jeffyscott
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by jeffyscott »

JackoC wrote: Sun Jan 02, 2022 10:07 pm Optimal $ use of CCR, in applicable tax/gift situation and w/ some tolerance for hoop jumping, would prioritize Simon cards, at least for $2k/card/qtr, so you'd often get value out of PR's 3.5% categories as next best (with a little more hassle to cancel out the annual fee).
That makes sense, though I am probably not willing to jump through the Simon gift card hoops, it is at least tempting for what might be about a $300 per year net gain for me.

But, in my case, it's more that the fee would not be worth it to get 3.5% vs. 3% on travel and dining, even after reducing it to a net of $15. To just recover a net fee of $15, would require spending $3000, a figure that we might or might not reach in a normal year. And even if airline points and hotel points from repeated credit card bonuses were to run out and we reached $5000-7000, which would be a lot for us in that category, that would be a gain net gain of just $10-20. I'd need to get a lot more than that for jumping through the AA gift card hoops.

Of course, for those who spend $1000s per month on travel and dining (and/or do not have Costco membership), it may make sense to pay the fee and play the AA gift card game.
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

jeffyscott wrote: Mon Jan 03, 2022 6:55 amBut, in my case, it's more that the fee would not be worth it to get 3.5% vs. 3% on travel and dining, even after reducing it to a net of $15. To just recover a net fee of $15, would require spending $3000
I was planning to apply for the Unlimited Cash Rewards card, which has no fee but pays the same 1.5% --> 2.625% on everything (it lacks the Premium Rewards card's higher payout on travel and dining, but I'm not traveling much these days and use a Customized Cash Rewards card to get 5.25% cash back on dining). I settled on PR when I learned that I have an upcoming expense large enough to get the PR's $500 sign-up bonus, which is greater than UCR's $200 sign-up bonus. I don't normally chase sign-up bonuses, but I realized that the $300 difference would pay for the PR's effective annual fee for 20 years. Obviously I don't need to hold it nearly that long, but it was a stark difference to me.

Also remember that the PR pays up to $100 every four years for TSA Pre-check or Global Entry, so that's essentially a $25/year credit if you hold it long enough, which more than negates the annual fee.
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jeffyscott
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by jeffyscott »

FedGuy wrote: Mon Jan 03, 2022 7:53 am
jeffyscott wrote: Mon Jan 03, 2022 6:55 amBut, in my case, it's more that the fee would not be worth it to get 3.5% vs. 3% on travel and dining, even after reducing it to a net of $15. To just recover a net fee of $15, would require spending $3000
I was planning to apply for the Unlimited Cash Rewards card, which has no fee but pays the same 1.5% --> 2.625% on everything (it lacks the Premium Rewards card's higher payout on travel and dining, but I'm not traveling much these days and use a Customized Cash Rewards card to get 5.25% cash back on dining). I settled on PR when I learned that I have an upcoming expense large enough to get the PR's $500 sign-up bonus, which is greater than UCR's $200 sign-up bonus. I don't normally chase sign-up bonuses, but I realized that the $300 difference would pay for the PR's effective annual fee for 20 years. Obviously I don't need to hold it nearly that long, but it was a stark difference to me.

Also remember that the PR pays up to $100 every four years for TSA Pre-check or Global Entry, so that's essentially a $25/year credit if you hold it long enough, which more than negates the annual fee.
I'd probably take the $500 bonus too, then downgrade or cancel when the fee comes due after a year.

There are a lot of cards that are worth getting for a sign-up bonus, but for me few or none are worth paying a fee to keep after getting the bonus. We have not paid airfare in about a decade (while taking about 2 flights per year, prior to 2020) and had a number of free hotel nights as well as some cash, thanks to such things.

There are a few cards that offer the TSA Pre-check or Global Entry reimbursement. We have never taken advantage so far, seems like too much hassle and time is required to obtain it, when one might fly only twice in a year?
JackoC
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by JackoC »

spammagnet wrote: Sun Jan 02, 2022 11:39 pm
JackoC wrote: Sun Jan 02, 2022 10:07 pm... Using CCR for 'real' online shopping picks up only 2.625% (5.25%-2.625% using UCR/PR instead), restaurant/online travel booking only 5.25%-3.5%=1.75%, supermarket marginal, 3.5%-2.625%. ...
I'm unclear on what you mean by "using UCR/PR instead", and related math.
Sorry, as already mentioned PR=Preferred Rewards car, UCR Ultimate Cash Rewards card. Both give 1.5%*1.75=2.625% on 'everything else' if you are at Platinum Honors (PH) level at Merrill/BOA (parking >=$100k in ETF's at Merrill easiest way, and often gets a Merrill account opening bonus). The PR card additionally offers 3.5% on dining/travel at PH level, but incurs a $95 annual fee UCR doesn't have, though also offers a $100 per year regular credit on 'airline incidental' purchases which can include an American Airlines electronic gift card for flights. Also, PR has given special benefits time to time like a $50 supermarket credit last year and 3.5% cash back at supermarkets from IIRC April to the end of 2021, and has no Foreign Transaction Fee. UCR and CCR do have FTF.

On PR v UCR, I've long had PR and recently BOA offered a $200 bonus to get UCR which I saw no reason to refuse so I have both. I've mulled cancelling PR before the next annual fee in April, but decided on further analysis to retain it, using the American Airlines maneuver on the annual fee. We haven't flown since 2019 but this coming year has a number of weddings in the family some of which we will fly to, and doesn't seem too much trouble to have one flight on AA. And as I laid out, it doesn't necessarily make sense to consider 5.25% for online booked travel and restaurants as a reason to ditch a 3.5% dining/travel card. That only picks up 1.75% net, when you could instead use that finite 5.25% capacity to pick up 3.6-4.6% over the alternatives when paying estimated tax or giving cash/check gifts of $1k, if you do either or both. Although it all depends on tolerance for some extra work, like just about any money saving idea besides just getting less stuff.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

JackoC wrote: Mon Jan 03, 2022 8:47 am… And as I laid out, it doesn't necessarily make sense to consider 5.25% for online booked travel and restaurants as a reason to ditch a 3.5% dining/travel card. That only picks up 1.75% net, when you could instead use that finite 5.25% capacity to pick up 3.6-4.6% over the alternatives when paying estimated tax or giving cash/check gifts of $1k, if you do either or both. Although it all depends on tolerance for some extra work, like just about any money saving idea besides just getting less stuff.
OK, I think I understand now. Your conclusion is based on there being a limit on the 3% CCR category and assumes you spend additional money. That being the case, we're optimized without PR for our spending patterns. I avoid AA if at all possible (they're only slightly better than RyanAIr) and am not willing to do the AA gift card thing to defray the annual fee. Buying Simon VGCs for taxes is enough.

The $2,500/quarter limits per card approximate our grocery and tax expenses. We'll slightly exceed it on taxes (using Simon VGCs purchased online) and can always buy gas gift cards at Publix to fill the $2,500 if we don't hit it there. (Our gas expenses don't justify selecting that category.) We get 3% on groceries by setting the card to online and using phone apps for in-store payments where allowed. The fact that Chase's 5% category is groceries this quarter gives us additional headroom in the online category. I just add it to my Publix phone app and don't change behavior.

The third of our 4 CCR cards is set to dining. We don't hit the limit with dining expenses but we don't have much else to spend it on and aren't looking for spending opportunities. The 4th card is set for online and is tied to Paypal. Some of our scheduled bills qualify and we pay other online purchases using Paypal where possible. An Amazon card directs a lot of our online purchases away from CCR, reserving the limit for other purposes.

We qualified for the new UCR cards and opened two accounts. We'll add one to Paypal for scheduled bills that don't qualify as online shopping and do the same to autopay online vendors (e.g., phone bills) that don't use Paypal. Those are one-time set-and-forget events. We both carry the CCR card set to dining and labeled as such. We'll pay in-stores with phone apps where allowed and carry the UCR card for everything else. So, the only card decisions to be made at the time of payment is whether it's dining or not, and whether there's a store pay app, or not.

DW isn't interested in playing the card game but is willing to use Publix's phone app. We're usually together when dining out so her using UCR for everything other than Publix won't miss much.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

jeffyscott wrote: Mon Jan 03, 2022 8:34 am
FedGuy wrote: Mon Jan 03, 2022 7:53 am
jeffyscott wrote: Mon Jan 03, 2022 6:55 amBut, in my case, it's more that the fee would not be worth it to get 3.5% vs. 3% on travel and dining, even after reducing it to a net of $15. To just recover a net fee of $15, would require spending $3000
I was planning to apply for the Unlimited Cash Rewards card, which has no fee but pays the same 1.5% --> 2.625% on everything (it lacks the Premium Rewards card's higher payout on travel and dining, but I'm not traveling much these days and use a Customized Cash Rewards card to get 5.25% cash back on dining). I settled on PR when I learned that I have an upcoming expense large enough to get the PR's $500 sign-up bonus, which is greater than UCR's $200 sign-up bonus. I don't normally chase sign-up bonuses, but I realized that the $300 difference would pay for the PR's effective annual fee for 20 years. Obviously I don't need to hold it nearly that long, but it was a stark difference to me.

Also remember that the PR pays up to $100 every four years for TSA Pre-check or Global Entry, so that's essentially a $25/year credit if you hold it long enough, which more than negates the annual fee.
I'd probably take the $500 bonus too, then downgrade or cancel when the fee comes due after a year.

There are a lot of cards that are worth getting for a sign-up bonus, but for me few or none are worth paying a fee to keep after getting the bonus. We have not paid airfare in about a decade (while taking about 2 flights per year, prior to 2020) and had a number of free hotel nights as well as some cash, thanks to such things.

There are a few cards that offer the TSA Pre-check or Global Entry reimbursement. We have never taken advantage so far, seems like too much hassle and time is required to obtain it, when one might fly only twice in a year?
Just be aware that for the PR on your first statement you will be charged the $95 annual fee (it is NOT waived for the first year).

In terms of recoupin the $95 annual fee, remember the $100 AA eGC also gets 3.5% cash back, so if you are able to sell the AA eGC for $80, with the $3.50 cash back, you only need to recoup $11.50 for the annual fee.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

spammagnet wrote: Mon Jan 03, 2022 10:23 am
JackoC wrote: Mon Jan 03, 2022 8:47 am… And as I laid out, it doesn't necessarily make sense to consider 5.25% for online booked travel and restaurants as a reason to ditch a 3.5% dining/travel card. That only picks up 1.75% net, when you could instead use that finite 5.25% capacity to pick up 3.6-4.6% over the alternatives when paying estimated tax or giving cash/check gifts of $1k, if you do either or both. Although it all depends on tolerance for some extra work, like just about any money saving idea besides just getting less stuff.
OK, I think I understand now. Your conclusion is based on there being a limit on the 3% CCR category and assumes you spend additional money. That being the case, we're optimized without PR for our spending patterns. I avoid AA if at all possible (they're only slightly better than RyanAIr) and am not willing to do the AA gift card thing to defray the annual fee. Buying Simon VGCs for taxes is enough.

The $2,500/quarter limits per card approximate our grocery and tax expenses. We'll slightly exceed it on taxes (using Simon VGCs purchased online) and can always buy gas gift cards at Publix to fill the $2,500 if we don't hit it there. (Our gas expenses don't justify selecting that category.) We get 3% on groceries by setting the card to online and using phone apps for in-store payments where allowed. The fact that Chase's 5% category is groceries this quarter gives us additional headroom in the online category. I just add it to my Publix phone app and don't change behavior.

The third of our 4 CCR cards is set to dining. We don't hit the limit with dining expenses but we don't have much else to spend it on and aren't looking for spending opportunities. The 4th card is set for online and is tied to Paypal. Some of our scheduled bills qualify and we pay other online purchases using Paypal where possible. An Amazon card directs a lot of our online purchases away from CCR, reserving the limit for other purposes.

We qualified for the new UCR cards and opened two accounts. We'll add one to Paypal for scheduled bills that don't qualify as online shopping and do the same to autopay online vendors (e.g., phone bills) that don't use Paypal. Those are one-time set-and-forget events. We both carry the CCR card set to dining and labeled as such. We'll pay in-stores with phone apps where allowed and carry the UCR card for everything else. So, the only card decisions to be made at the time of payment is whether it's dining or not, and whether there's a store pay app, or not.

DW isn't interested in playing the card game but is willing to use Publix's phone app. We're usually together when dining out so her using UCR for everything other than Publix won't miss much.
It is obviously very YMMV. I did a breakdown of all my annual expenses for the last couple of years down to the penny and compared my options on CCs. Since you can only get 3x BoA CCs in a short period of time, I determined that 2x CCR and PR were optimal for my spending. We have a large family so we have large monthly spend on CCs and a lot of that spending is at Costco. We used much of the combined $5k/quarter at Costco. I know it would be more optimal to buy Costco Cash Cards online and pay using those versus just using the CC in store, but honestly my spouse does most of the shopping and having to deal with multiple Costco Cash Cards with the amount of spending we do was just a bridge too far for her. I mentioned it, and it was quickly shut down. I am happy enough with the fact that she puts up with rotating through various CCs depending on the quarter to maximize our cash back that was (we also have the Chase Freedom and Discover Card). We have the CCRs on online shopping and home improvement/furnishings. For gas, the 4% cash back from the Citi Costco Visa is good enough, and for dinning and travel 3.5% cash back from the PR is worth it to not have to worry about using up the CCR quarterly caps. I am doing the AA eGC hack while it lasts, if I can can sell it for $80 and get $3.50 cash back, that means I only need to recoup $11.50. I spend enough on travel and dining annually to easily recoup that based on the 0.5% premium I get over using the Citi Costco Visa (3% cash back). Also, once Covid becomes less of a concern, we will resume family trips. We have a large family and the combined costs of airfare, hotel, car rental would eat up all of the quarterly CCR cap. I am tempted to add the US Bank Cash+ Visa to get 5% cash back on utilities and cell phone bills. I would love for the CCR to add those as catagories, that would justify getting a 3rd CCR once I am eligible to get a 4th BoA CC.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

anon_investor wrote: Mon Jan 03, 2022 10:54 amIn terms of recoupin the $95 annual fee, remember the $100 AA eGC also gets 3.5% cash back, so if you are able to sell the AA eGC for $80, with the $3.50 cash back, you only need to recoup $11.50 for the annual fee.
I hadn't considered that. I'm unreasonably excited to hear that. Thanks!
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by professor_americus »

PR also includes various travel insurance benefits including trip cancellation coverage, which is nice feature.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

professor_americus wrote: Mon Jan 03, 2022 11:57 am PR also includes various travel insurance benefits including trip cancellation coverage, which is nice feature.
Another reason to buy flights entirely with PR and not split with AA eGCs.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by calwatch »

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

Post by jayhawkerbeef »

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

Post by SteveInNJ »

I just checked and my "Airline Incidental Statement Credit" still shows $100 used. I bought a GC in November...
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

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

Post by anita bahth »

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.
Also strange is that the TSA credit shows available again, even though it hasn't been 4yrs yet for me. I think they're just having problems.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by SerenityBlue »

How can I check my Preferred Reward enrollment status? I opened a BoA checking account on 11/18 & completed asset transfer around $200k+ to Merrill Edge on 11/24. On checking https://www.bankofamerica.com/preferred-rewards/ and signing in, it tells me the criteria to qualify and an area to check off being email notified when my balances qualify. Should I be checking post-2/18 for enrollment into this program?
Last edited by SerenityBlue on Tue Jan 04, 2022 4:22 pm, edited 1 time in total.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

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

Post by Cranberry44 »

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

Post by spammagnet »

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

Post by anon_investor »

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).
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

FedGuy wrote: Sat Jan 01, 2022 8:19 pm
spammagnet wrote: Sat Jan 01, 2022 8:14 pmNot to dispute your concerns about bank info, in general, isn't giving them a physical check the same thing? They need routing and account numbers and would get it either way. If you object to the former, shouldn't you object to the latter?
Fair point. I guess I just figured that PayPal was another layer removed from my actual bank account, and might therefore be somewhat safer. But I'm willing to chalk it up to paranoia either way.

Edited to add: In re-reading my message that you responded to, I should clarify that Card Cash was willing to mail me a check with the proceeds from my gift card sale, but they indicated that that would take a while.
Thank you for sharing your experience selling your $100 AA eGC to Card Cash for $80, as well as to others who posted their experience.

The process went smoothly for me, I started the process on Sunday night, I submitted everything online for verification/approval. There were no follow ups or anything, and $80 was transfered to my PayPal account this afternoon. I have initated a transfer to my bank account, so I should have the money literally in the bank by tomorrow. Pretty happy with the process. I plan to get another $100 AA eGC this year and sell again to Card Cash for $80.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

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

Post by anon_investor »

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

Post by Cranberry44 »

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. :(
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

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.
Nah I'll probably hold onto it. I usually do sell them but seems like it's hit or miss whether AA or Southwest is cheaper for some of my typical routes, so might as well not just give away the $20, especially if I don't get it credited.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

tj wrote: Tue Jan 04, 2022 4:23 pm
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.
Nah I'll probably hold onto it. I usually do sell them but seems like it's hit or miss whether AA or Southwest is cheaper for some of my typical routes, so might as well not just give away the $20, especially if I don't get it credited.
That makes sense. I don't have plans for any travel on an AA route this year, so I will likely sell if I can.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

anon_investor wrote: Tue Jan 04, 2022 3:44 pmThe process went smoothly for me, I started the process on Sunday night, I submitted everything online for verification/approval. There were no follow ups or anything, and $80 was transfered to my PayPal account this afternoon. I have initated a transfer to my bank account, so I should have the money literally in the bank by tomorrow. Pretty happy with the process. I plan to get another $100 AA eGC this year and sell again to Card Cash for $80.
I'm glad it worked out. Thanks for the update!
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Cubicle »

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.
$1 saved = >$1 earned. ✓
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