Bank of America/Merrill Edge - Preferred Rewards

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

Post by VictorStarr »

ChicagoBear7 wrote: Mon Dec 06, 2021 9:10 am ...
I'm glad BofA is doing this. Absent this building project, we might only have one wire transfer every few years, but the thought that Chase gives free transfers for having only $150k with them was gnawing at me.
...
Actually $75K would qualify you for Chase Sapphire Checking account with unlimited wires.
Fidelity gives away free unlimited wire service for everybody.
Shorty
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Shorty »

I do BofA and Chase. Big fan of Chase Sapphire banking. $75k in their YouInvest qualifies. Another big feature is pulling local foreign currency by ATM at the exchange rate. Schwab also has this feature for "free" with a combo brokerage/checking accounts with no fee or minimum balance. Chase won't count IRA/Roth IRAs toward the qualifying balance. BofA does via Merrill. For me, BoA best features are CC. Chase has solid in-bank features - for example, they won't charge for notary services if available. YMMV.
VictorStarr wrote: Mon Dec 06, 2021 9:08 pm
ChicagoBear7 wrote: Mon Dec 06, 2021 9:10 am ...
I'm glad BofA is doing this. Absent this building project, we might only have one wire transfer every few years, but the thought that Chase gives free transfers for having only $150k with them was gnawing at me.
...
Actually $75K would qualify you for Chase Sapphire Checking account with unlimited wires.
Fidelity gives away free unlimited wire service for everybody.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Shorty wrote: Wed Dec 08, 2021 9:25 am I do BofA and Chase. Big fan of Chase Sapphire banking. $75k in their YouInvest qualifies. Another big feature is pulling local foreign currency by ATM at the exchange rate. Schwab also has this feature for "free" with a combo brokerage/checking accounts with no fee or minimum balance. Chase won't count IRA/Roth IRAs toward the qualifying balance. BofA does via Merrill. For me, BoA best features are CC. Chase has solid in-bank features - for example, they won't charge for notary services if available. YMMV.
VictorStarr wrote: Mon Dec 06, 2021 9:08 pm
ChicagoBear7 wrote: Mon Dec 06, 2021 9:10 am ...
I'm glad BofA is doing this. Absent this building project, we might only have one wire transfer every few years, but the thought that Chase gives free transfers for having only $150k with them was gnawing at me.
...
Actually $75K would qualify you for Chase Sapphire Checking account with unlimited wires.
Fidelity gives away free unlimited wire service for everybody.
Bank of America doesn't charge for notary services or medallion signature gurantee (requires being a customer for 6+ months) if available at the branch.

For the Chase Sapphire banking, does Chase reimburse for any 3rd party ATM fees (international and domestic)?
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VictorStarr
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by VictorStarr »

anon_investor wrote: Wed Dec 08, 2021 9:39 am
For the Chase Sapphire banking, does Chase reimburse for any 3rd party ATM fees (international and domestic)?
Yes, with Sapphire banking Chase reimburses all 3rd party ATM fees (international and domestic) and does not charge foreign fees.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

VictorStarr wrote: Wed Dec 08, 2021 3:17 pm
anon_investor wrote: Wed Dec 08, 2021 9:39 am
For the Chase Sapphire banking, does Chase reimburse for any 3rd party ATM fees (international and domestic)?
Yes, with Sapphire banking Chase reimburses all 3rd party ATM fees (international and domestic) and does not charge foreign fees.
How is the Chase DYI brokerage? Merrill Edge is pretty barebones, but fine to just park some ETFs.

Does Schwab's checking product or Fidelity's CMA the same? BHs talk about those a lot.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by VictorStarr »

anon_investor wrote: Wed Dec 08, 2021 3:22 pm
VictorStarr wrote: Wed Dec 08, 2021 3:17 pm
anon_investor wrote: Wed Dec 08, 2021 9:39 am
For the Chase Sapphire banking, does Chase reimburse for any 3rd party ATM fees (international and domestic)?
Yes, with Sapphire banking Chase reimburses all 3rd party ATM fees (international and domestic) and does not charge foreign fees.
How is the Chase DYI brokerage? Merrill Edge is pretty barebones, but fine to just park some ETFs.

Does Schwab's checking product or Fidelity's CMA the same? BHs talk about those a lot.
JP Morgan Self-Directed (former YouInvest) is very barebones but you can buy Vanguard mutual funds with $0 fees (usually only Investor shares are available). I could not find a way to sell a specific of tax lot of a mutual fund.

Schwab checking and Fidelity CMA are similar but in my opinion CMA is better. Fidelity CMA supports automatic liquidation of money market funds and instant transfer between Fidelity accounts while Schwab transfers are instant only during business hours.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

VictorStarr wrote: Wed Dec 08, 2021 3:39 pm
anon_investor wrote: Wed Dec 08, 2021 3:22 pm
VictorStarr wrote: Wed Dec 08, 2021 3:17 pm
anon_investor wrote: Wed Dec 08, 2021 9:39 am
For the Chase Sapphire banking, does Chase reimburse for any 3rd party ATM fees (international and domestic)?
Yes, with Sapphire banking Chase reimburses all 3rd party ATM fees (international and domestic) and does not charge foreign fees.
How is the Chase DYI brokerage? Merrill Edge is pretty barebones, but fine to just park some ETFs.

Does Schwab's checking product or Fidelity's CMA the same? BHs talk about those a lot.
JP Morgan Self-Directed (former YouInvest) is very barebones but you can buy Vanguard mutual funds with $0 fees (usually only Investor shares are available). I could not find a way to sell a specific of tax lot of a mutual fund.

Schwab checking and Fidelity CMA are similar but in my opinion CMA is better. Fidelity CMA supports automatic liquidation of money market funds and instant transfer between Fidelity accounts while Schwab transfers are instant only during business hours.
For JP Morgan Self-Directed, can you sell specific tax lot for ETFs?

Do you have any experience using the Fidelity CMA at foreign ATMs. Do they charge a foreign exchange fee, does Fidelity reimburse for the 3rd party international ATM fees?

It is so silly, $100k at BoA/ME and you still don't get free out going wires or interanational ATM benefits... if not for the 75% cash back boost to CCs, the BoA/ME combo would not be compelling at all.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by jeffyscott »

anon_investor wrote: Sat Dec 04, 2021 3:10 pm
jeffyscott wrote: Sat Dec 04, 2021 3:09 pm
anon_investor wrote: Sat Dec 04, 2021 2:27 pm
jeffyscott wrote: Sat Dec 04, 2021 1:57 pm
spammagnet wrote: Sat Dec 04, 2021 12:41 pm I see what you described. It seems to be a good way to use Paypal to pay billers that don't normally use them.

The disadvantage to me is that I don't think I can set them up for auto-pay.
Well, so far the even bigger disadvantage is that I can't pay the bill at all. :annoyed
Update if you ever get it to work. I play to try this on one of my utility bills later this month.
Well, you don't have to wait for me, exactly what has not worked for me did work for JackoC:
JackoC wrote: Wed Dec 01, 2021 9:13 amA bit of a tangent, but maybe others have useful experience on this, is using PR/UCR at 2.625% with PayPal Bill Pay with no fee by PP, to providers like utilities which wouldn't take CC's or charge convenience fee. For example I now pay my gas/electric this way. Previously I'd pay directly with BOA PR with $3.95 convenience fee when the bill was >$3.95/.02625~$150 (winter gas bills, sometimes summer electric bills), otherwise with bank bill pay (0% cashback). I tried it first with CCR via PayPal but it coded 'not online' (I've also done it with Chase Freedom when PayPal is a 5% category). The limitation is whether various providers are in the lookup list on PayPal. My water utility well as gas/electric is on it, my sewer utility isn't. My health insurance co isn't on it either, but I see some HI companies on the list.
Yeah, I plan to try when my bill comes later this month.
I had a useless and frustrating series of exchanges by messages with paypal customer service customer, about my inability to pay my utility bill using their bill pay service. Because the last, likely also useless, suggestion was to "confirm the account" by connecting to a bank account or applying for their credit card, we tried using my spouse's account today as her's is connected to a bank account and so "confirmed".

It would not even let us add the biller on her account, the utility name still shows up, the logo was missing (it shows one of those image placeholder icons) and when clicked on, get the error message that something went wrong.

I subsequently tried again on my account and it let me pay the bill today. The transaction shows as pending with the amount I entered, no added fee. I'll see in a day or two if the full balance was paid on the utility account.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by outbackcountry »

Do you have any experience using the Fidelity CMA at foreign ATMs. Do they charge a foreign exchange fee, does Fidelity reimburse for the 3rd party international ATM fees?
I don't have personal experience with CMA debit card but know they do not reimburse the foreign transaction fee. Schwab does reimburse all.
Your account will automatically be reimbursed for all ATM fees charged by other institutions while using a Fidelity® Debit Card linked to your Fidelity Cash Management Account at any ATM displaying the Visa®, Plus®, or Star® logos. The reimbursement will be credited to the account the same day the ATM fee is debited from the account. Please note that there may be a foreign transaction fee of 1% that is not waived, which will be included in the amount charged to your account.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by SpaethCo »

outbackcountry wrote: Wed Dec 08, 2021 4:42 pm I don't have personal experience with CMA debit card but know they do not reimburse the foreign transaction fee.
There's no 1% FTF fee on ATM withdrawals, only when using the card for debit transactions. That statement on Fidelity's site is poorly worded.

For worldwide ATM use Schwab and Fidelity both had the same rates when I tested both. The only major difference is that Fidelity credits back the ATM fees when the transaction posts and Schwab only credits those back at the end of the month.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by student »

anon_investor wrote: Wed Dec 08, 2021 3:22 pm
VictorStarr wrote: Wed Dec 08, 2021 3:17 pm
anon_investor wrote: Wed Dec 08, 2021 9:39 am
For the Chase Sapphire banking, does Chase reimburse for any 3rd party ATM fees (international and domestic)?
Yes, with Sapphire banking Chase reimburses all 3rd party ATM fees (international and domestic) and does not charge foreign fees.
How is the Chase DYI brokerage? Merrill Edge is pretty barebones, but fine to just park some ETFs.

Does Schwab's checking product or Fidelity's CMA the same? BHs talk about those a lot.
Both ME and Chase DYI are fine. Chase DYI can hold many Vanguard Admiral funds.
Last edited by student on Wed Dec 08, 2021 7:20 pm, edited 1 time in total.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by student »

outbackcountry wrote: Wed Dec 08, 2021 4:42 pm
Do you have any experience using the Fidelity CMA at foreign ATMs. Do they charge a foreign exchange fee, does Fidelity reimburse for the 3rd party international ATM fees?
I don't have personal experience with CMA debit card but know they do not reimburse the foreign transaction fee. Schwab does reimburse all.
Based on my experience, both Fidelity CMA and Schwab reimbursed 3rd party international ATM fees.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Xov581 »

Shorty wrote: Wed Dec 08, 2021 9:25 am Chase won't count IRA/Roth IRAs toward the qualifying balance.
Actually, Chase does count IRAs and Roth IRAs toward the $75k minimum. I qualify for the sapphire banking fee waiver via IRA, myself. I think the confusion around what qualifies for the fee waiver comes from the past UR point promotions. Transferring in retirement accounts did not count toward earning said bonus points.

JP Morgan self-directed is great for retirement accounts, but like many, I'm turned off by the way they default to the average cost basis for taxable investments. Supposedly, they can change the display to show specific tax lots but you have to call in (maybe can SM). I haven't wanted to test this.

In general I think sapphire banking is much superior to anything BoA offers on the banking side, though ME has been totally satisfactory so far as a home for my taxable funds.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

jeffyscott wrote: Wed Dec 08, 2021 4:31 pm
anon_investor wrote: Sat Dec 04, 2021 3:10 pm
jeffyscott wrote: Sat Dec 04, 2021 3:09 pm
anon_investor wrote: Sat Dec 04, 2021 2:27 pm
jeffyscott wrote: Sat Dec 04, 2021 1:57 pm

Well, so far the even bigger disadvantage is that I can't pay the bill at all. :annoyed
Update if you ever get it to work. I play to try this on one of my utility bills later this month.
Well, you don't have to wait for me, exactly what has not worked for me did work for JackoC:
JackoC wrote: Wed Dec 01, 2021 9:13 amA bit of a tangent, but maybe others have useful experience on this, is using PR/UCR at 2.625% with PayPal Bill Pay with no fee by PP, to providers like utilities which wouldn't take CC's or charge convenience fee. For example I now pay my gas/electric this way. Previously I'd pay directly with BOA PR with $3.95 convenience fee when the bill was >$3.95/.02625~$150 (winter gas bills, sometimes summer electric bills), otherwise with bank bill pay (0% cashback). I tried it first with CCR via PayPal but it coded 'not online' (I've also done it with Chase Freedom when PayPal is a 5% category). The limitation is whether various providers are in the lookup list on PayPal. My water utility well as gas/electric is on it, my sewer utility isn't. My health insurance co isn't on it either, but I see some HI companies on the list.
Yeah, I plan to try when my bill comes later this month.
I had a useless and frustrating series of exchanges by messages with paypal customer service customer, about my inability to pay my utility bill using their bill pay service. Because the last, likely also useless, suggestion was to "confirm the account" by connecting to a bank account or applying for their credit card, we tried using my spouse's account today as her's is connected to a bank account and so "confirmed".

It would not even let us add the biller on her account, the utility name still shows up, the logo was missing (it shows one of those image placeholder icons) and when clicked on, get the error message that something went wrong.

I subsequently tried again on my account and it let me pay the bill today. The transaction shows as pending with the amount I entered, no added fee. I'll see in a day or two if the full balance was paid on the utility account.
Hopefully it works. I plan to try for a utility bill later this month. I have the CF too so 5% cash back potentially. If it works, for Jan only 2.62% CB with PR.
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VictorStarr
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by VictorStarr »

anon_investor wrote: Wed Dec 08, 2021 4:03 pm
VictorStarr wrote: Wed Dec 08, 2021 3:39 pm JP Morgan Self-Directed (former YouInvest) is very barebones but you can buy Vanguard mutual funds with $0 fees (usually only Investor shares are available). I could not find a way to sell a specific of tax lot of a mutual fund.

Schwab checking and Fidelity CMA are similar but in my opinion CMA is better. Fidelity CMA supports automatic liquidation of money market funds and instant transfer between Fidelity accounts while Schwab transfers are instant only during business hours.
For JP Morgan Self-Directed, can you sell specific tax lot for ETFs?

Do you have any experience using the Fidelity CMA at foreign ATMs. Do they charge a foreign exchange fee, does Fidelity reimburse for the 3rd party international ATM fees?

It is so silly, $100k at BoA/ME and you still don't get free out going wires or interanational ATM benefits... if not for the 75% cash back boost to CCs, the BoA/ME combo would not be compelling at all.
- I have only one mutual fund with JP Morgan so I have no experience with handling ETFs. In general, there is not way to choose account liquidation method using UI. You have to call JP Morgan and request to change holding method to the Original cost and liquidation method to the High Cost. Even after I did this, I still could not see or sell individual tax lots of mutual fund.
- Chase/JP Morgan security is lacking, it uses SMS for 2FA and there is no way to use Google Voice number for 2FA only real mobile number.
Chase Sapphire checking is way better than what BofA offers for PH but JP Morgan brokerage account is too rudimental.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

VictorStarr wrote: Wed Dec 08, 2021 9:10 pm
anon_investor wrote: Wed Dec 08, 2021 4:03 pm
VictorStarr wrote: Wed Dec 08, 2021 3:39 pm JP Morgan Self-Directed (former YouInvest) is very barebones but you can buy Vanguard mutual funds with $0 fees (usually only Investor shares are available). I could not find a way to sell a specific of tax lot of a mutual fund.

Schwab checking and Fidelity CMA are similar but in my opinion CMA is better. Fidelity CMA supports automatic liquidation of money market funds and instant transfer between Fidelity accounts while Schwab transfers are instant only during business hours.
For JP Morgan Self-Directed, can you sell specific tax lot for ETFs?

Do you have any experience using the Fidelity CMA at foreign ATMs. Do they charge a foreign exchange fee, does Fidelity reimburse for the 3rd party international ATM fees?

It is so silly, $100k at BoA/ME and you still don't get free out going wires or interanational ATM benefits... if not for the 75% cash back boost to CCs, the BoA/ME combo would not be compelling at all.
- I have only one mutual fund with JP Morgan so I have no experience with handling ETFs. In general, there is not way to choose account liquidation method using UI. You have to call JP Morgan and request to change holding method to the Original cost and liquidation method to the High Cost. Even after I did this, I still could not see or sell individual tax lots of mutual fund.
- Chase/JP Morgan security is lacking, it uses SMS for 2FA and there is no way to use Google Voice number for 2FA only real mobile number.
Chase Sapphire checking is way better than what BofA offers for PH but JP Morgan brokerage account is too rudimental.
It sounds like JP Morgan Brokerage might be okay for an IRA, not so much for a taxable account. ME is okay for tax loss harvesting if you do not buy frequently, since you can only select up to 4 tax lots per transaction.
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VictorStarr
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by VictorStarr »

anon_investor wrote: Wed Dec 08, 2021 9:17 pm
It sounds like JP Morgan Brokerage might be okay for an IRA, not so much for a taxable account. ME is okay for tax loss harvesting if you do not buy frequently, since you can only select up to 4 tax lots per transaction.
I agree, JP Morgan is a good place to park smallish IRA account and enjoy better banking with Sapphire checking. The problem with trading accounts for better credit cards and better banking is too many accounts to manage :) .
After a year with Chase Sapphire checking I gravitate back to Fidelity CMA, getting rid of extra brokerage account and extra checking feels good. I still have a few more accounts to get rid of.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

VictorStarr wrote: Wed Dec 08, 2021 10:00 pm
anon_investor wrote: Wed Dec 08, 2021 9:17 pm
It sounds like JP Morgan Brokerage might be okay for an IRA, not so much for a taxable account. ME is okay for tax loss harvesting if you do not buy frequently, since you can only select up to 4 tax lots per transaction.
I agree, JP Morgan is a good place to park smallish IRA account and enjoy better banking with Sapphire checking. The problem with trading accounts for better credit cards and better banking is too many accounts to manage :) .
After a year with Chase Sapphire checking I gravitate back to Fidelity CMA, getting rid of extra brokerage account and extra checking feels good. I still have a few more accounts to get rid of.
BoA's 75% boost to cash back was too good for me to pass up.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by EnjoyIt »

VictorStarr wrote: Wed Dec 08, 2021 10:00 pm
anon_investor wrote: Wed Dec 08, 2021 9:17 pm
It sounds like JP Morgan Brokerage might be okay for an IRA, not so much for a taxable account. ME is okay for tax loss harvesting if you do not buy frequently, since you can only select up to 4 tax lots per transaction.
I agree, JP Morgan is a good place to park smallish IRA account and enjoy better banking with Sapphire checking. The problem with trading accounts for better credit cards and better banking is too many accounts to manage :) .
After a year with Chase Sapphire checking I gravitate back to Fidelity CMA, getting rid of extra brokerage account and extra checking feels good. I still have a few more accounts to get rid of.
You got that right. I have:
Chase checking account with multiple credit cards
Chase you invest brokerage
BOA checking account with multiple credit cards
Meril Edge Brokerage
Vanguard Brokerage for my IRA
Etrade for my 401k.

Plus:
M1 account currently open for the signup bonus.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by JDCarpenter »

student wrote: Wed Dec 08, 2021 5:16 pm
outbackcountry wrote: Wed Dec 08, 2021 4:42 pm
Do you have any experience using the Fidelity CMA at foreign ATMs. Do they charge a foreign exchange fee, does Fidelity reimburse for the 3rd party international ATM fees?
I don't have personal experience with CMA debit card but know they do not reimburse the foreign transaction fee. Schwab does reimburse all.
Based on my experience, both Fidelity CMA and Schwab reimbursed 3rd party international ATM fees.
Our experience as well. Schwab & Fidelity are both excellent on ATM exchange rate and reimbursing (we travel internationally no less than 3 months of the year, and are now only with Fidelity for convenience, as it offers HSA).
Our personal blog (no ads) of why we saved/invested: https://www.lisajtravels.com/
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by JDCarpenter »

student wrote: Wed Dec 08, 2021 5:16 pm
outbackcountry wrote: Wed Dec 08, 2021 4:42 pm
Do you have any experience using the Fidelity CMA at foreign ATMs. Do they charge a foreign exchange fee, does Fidelity reimburse for the 3rd party international ATM fees?
I don't have personal experience with CMA debit card but know they do not reimburse the foreign transaction fee. Schwab does reimburse all.
Based on my experience, both Fidelity CMA and Schwab reimbursed 3rd party international ATM fees.
Our experience as well. Schwab & Fidelity are both excellent on ATM exchange rate and reimbursing (we travel internationally no less than 3 months of the year, and are now only with Fidelity for convenience, as it offers HSA).
Our personal blog (no ads) of why we saved/invested: https://www.lisajtravels.com/
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

JDCarpenter wrote: Wed Dec 08, 2021 10:37 pm
student wrote: Wed Dec 08, 2021 5:16 pm
outbackcountry wrote: Wed Dec 08, 2021 4:42 pm
Do you have any experience using the Fidelity CMA at foreign ATMs. Do they charge a foreign exchange fee, does Fidelity reimburse for the 3rd party international ATM fees?
I don't have personal experience with CMA debit card but know they do not reimburse the foreign transaction fee. Schwab does reimburse all.
Based on my experience, both Fidelity CMA and Schwab reimbursed 3rd party international ATM fees.
Our experience as well. Schwab & Fidelity are both excellent on ATM exchange rate and reimbursing (we travel internationally no less than 3 months of the year, and are now only with Fidelity for convenience, as it offers HSA).
So the Fidelity CMA ATM has a good exchange rate and reimburses domestic AND international 3rd party fees?

Why can't BoA offer this?
student
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by student »

anon_investor wrote: Wed Dec 08, 2021 10:47 pm
JDCarpenter wrote: Wed Dec 08, 2021 10:37 pm
student wrote: Wed Dec 08, 2021 5:16 pm
outbackcountry wrote: Wed Dec 08, 2021 4:42 pm
Do you have any experience using the Fidelity CMA at foreign ATMs. Do they charge a foreign exchange fee, does Fidelity reimburse for the 3rd party international ATM fees?
I don't have personal experience with CMA debit card but know they do not reimburse the foreign transaction fee. Schwab does reimburse all.
Based on my experience, both Fidelity CMA and Schwab reimbursed 3rd party international ATM fees.
Our experience as well. Schwab & Fidelity are both excellent on ATM exchange rate and reimbursing (we travel internationally no less than 3 months of the year, and are now only with Fidelity for convenience, as it offers HSA).
So the Fidelity CMA ATM has a good exchange rate and reimburses domestic AND international 3rd party fees?

Why can't BoA offer this?
Actually it is good that BoA does not offer this as if it does, it will probably take away other stuff. I want different companies to offer different perks, so we have a chance to get all of them.......Yes greedy. very greedy.......
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

student wrote: Wed Dec 08, 2021 10:53 pm
anon_investor wrote: Wed Dec 08, 2021 10:47 pm
JDCarpenter wrote: Wed Dec 08, 2021 10:37 pm
student wrote: Wed Dec 08, 2021 5:16 pm
outbackcountry wrote: Wed Dec 08, 2021 4:42 pm

I don't have personal experience with CMA debit card but know they do not reimburse the foreign transaction fee. Schwab does reimburse all.
Based on my experience, both Fidelity CMA and Schwab reimbursed 3rd party international ATM fees.
Our experience as well. Schwab & Fidelity are both excellent on ATM exchange rate and reimbursing (we travel internationally no less than 3 months of the year, and are now only with Fidelity for convenience, as it offers HSA).
So the Fidelity CMA ATM has a good exchange rate and reimburses domestic AND international 3rd party fees?

Why can't BoA offer this?
Actually it is good that BoA does not offer this as if it does, it will probably take away other stuff. I want different companies to offer different perks, so we have a chance to get all of them.......Yes greedy. very greedy.......
True, I am only still with BoA/ME because of the CC boost. If BoA gets rid of that, I am taking my $ elsewhere.
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JDCarpenter
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by JDCarpenter »

student wrote: Wed Dec 08, 2021 10:53 pm
anon_investor wrote: Wed Dec 08, 2021 10:47 pm
JDCarpenter wrote: Wed Dec 08, 2021 10:37 pm
student wrote: Wed Dec 08, 2021 5:16 pm
outbackcountry wrote: Wed Dec 08, 2021 4:42 pm

I don't have personal experience with CMA debit card but know they do not reimburse the foreign transaction fee. Schwab does reimburse all.
Based on my experience, both Fidelity CMA and Schwab reimbursed 3rd party international ATM fees.
Our experience as well. Schwab & Fidelity are both excellent on ATM exchange rate and reimbursing (we travel internationally no less than 3 months of the year, and are now only with Fidelity for convenience, as it offers HSA).
So the Fidelity CMA ATM has a good exchange rate and reimburses domestic AND international 3rd party fees?

Why can't BoA offer this?
Actually it is good that BoA does not offer this as if it does, it will probably take away other stuff. I want different companies to offer different perks, so we have a chance to get all of them.......Yes greedy. very greedy.......
:sharebeer Oh yeah, baby! You must be my sibling from another mother. :happy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by VictorStarr »

EnjoyIt wrote: Wed Dec 08, 2021 10:30 pm
VictorStarr wrote: Wed Dec 08, 2021 10:00 pm I agree, JP Morgan is a good place to park smallish IRA account and enjoy better banking with Sapphire checking. The problem with trading accounts for better credit cards and better banking is too many accounts to manage :) .
After a year with Chase Sapphire checking I gravitate back to Fidelity CMA, getting rid of extra brokerage account and extra checking feels good. I still have a few more accounts to get rid of.
You got that right. I have:
Chase checking account with multiple credit cards
Chase you invest brokerage
BOA checking account with multiple credit cards
Meril Edge Brokerage
Vanguard Brokerage for my IRA
Etrade for my 401k.

Plus:
M1 account currently open for the signup bonus.
Somewhat similar:
- Chase Sapphire and JP Morgan brokerage - I had Chase accounts for a a year, I like it but I am going to get rid of those accounts and switch to Fidelity CMA for banking
- BofA and Merrill Edge for credit cards - I will keep those for 2-3 years, the biggest benefit for me is paying estimated taxes with a Premium card. I have a US Bank Altitude Reserve (3pt x $1.5 for ApplePay) so the impact of Customized Cash card(s) is small.
- This year I migrated from Vanguard to Fidelity and Schwab, keep residual 529 plan till it is gone in 2022

After I retire in a few years I will keep Fidelity and Schwab for investments and banking, and either Chase, BofA or US Bank for credit cards.
EnjoyIt
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by EnjoyIt »

VictorStarr wrote: Wed Dec 08, 2021 11:27 pm
EnjoyIt wrote: Wed Dec 08, 2021 10:30 pm
VictorStarr wrote: Wed Dec 08, 2021 10:00 pm I agree, JP Morgan is a good place to park smallish IRA account and enjoy better banking with Sapphire checking. The problem with trading accounts for better credit cards and better banking is too many accounts to manage :) .
After a year with Chase Sapphire checking I gravitate back to Fidelity CMA, getting rid of extra brokerage account and extra checking feels good. I still have a few more accounts to get rid of.
You got that right. I have:
Chase checking account with multiple credit cards
Chase you invest brokerage
BOA checking account with multiple credit cards
Meril Edge Brokerage
Vanguard Brokerage for my IRA
Etrade for my 401k.

Plus:
M1 account currently open for the signup bonus.
Somewhat similar:
- Chase Sapphire and JP Morgan brokerage - I had Chase accounts for a a year, I like it but I am going to get rid of those accounts and switch to Fidelity CMA for banking
- BofA and Merrill Edge for credit cards - I will keep those for 2-3 years, the biggest benefit for me is paying estimated taxes with a Premium card. I have a US Bank Altitude Reserve (3pt x $1.5 for ApplePay) so the impact of Customized Cash card(s) is small.
- This year I migrated from Vanguard to Fidelity and Schwab, keep residual 529 plan till it is gone in 2022

After I retire in a few years I will keep Fidelity and Schwab for investments and banking, and either Chase, BofA or US Bank for credit cards.
I stay with chase because they are everywhere. We travel a decent amount and I like having the ability to go to an ATM and take out money if there is an emergency. Or more importantly take out a very large sum of money if I really have to. Several years back I bought my wife a diamond. We flew to NY, went to the diamond/jewelry district where we knew someone. Went into a secure building and met the jeweler. He lay out about a dozen diamonds of an already pre-determined price range that he knew about and educated my wife on each diamond which she got to choose. She loved the experience. Afterwards, we went down stairs, walked into a Chase bank and got lots of cash. Quick and easy. We then bought the diamond and proceeded to the next store to pick out the band.

Personally I think diamonds are stupid and a total waste of my money. But the wife really loved it. Could not have done it if it was Fidelity bank or Ally.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

EnjoyIt wrote: Thu Dec 09, 2021 2:29 pm
VictorStarr wrote: Wed Dec 08, 2021 11:27 pm
EnjoyIt wrote: Wed Dec 08, 2021 10:30 pm
VictorStarr wrote: Wed Dec 08, 2021 10:00 pm I agree, JP Morgan is a good place to park smallish IRA account and enjoy better banking with Sapphire checking. The problem with trading accounts for better credit cards and better banking is too many accounts to manage :) .
After a year with Chase Sapphire checking I gravitate back to Fidelity CMA, getting rid of extra brokerage account and extra checking feels good. I still have a few more accounts to get rid of.
You got that right. I have:
Chase checking account with multiple credit cards
Chase you invest brokerage
BOA checking account with multiple credit cards
Meril Edge Brokerage
Vanguard Brokerage for my IRA
Etrade for my 401k.

Plus:
M1 account currently open for the signup bonus.
Somewhat similar:
- Chase Sapphire and JP Morgan brokerage - I had Chase accounts for a a year, I like it but I am going to get rid of those accounts and switch to Fidelity CMA for banking
- BofA and Merrill Edge for credit cards - I will keep those for 2-3 years, the biggest benefit for me is paying estimated taxes with a Premium card. I have a US Bank Altitude Reserve (3pt x $1.5 for ApplePay) so the impact of Customized Cash card(s) is small.
- This year I migrated from Vanguard to Fidelity and Schwab, keep residual 529 plan till it is gone in 2022

After I retire in a few years I will keep Fidelity and Schwab for investments and banking, and either Chase, BofA or US Bank for credit cards.
I stay with chase because they are everywhere. We travel a decent amount and I like having the ability to go to an ATM and take out money if there is an emergency. Or more importantly take out a very large sum of money if I really have to. Several years back I bought my wife a diamond. We flew to NY, went to the diamond/jewelry district where we knew someone. Went into a secure building and met the jeweler. He lay out about a dozen diamonds of an already pre-determined price range that he knew about and educated my wife on each diamond which she got to choose. She loved the experience. Afterwards, we went down stairs, walked into a Chase bank and got lots of cash. Quick and easy. We then bought the diamond and proceeded to the next store to pick out the band.

Personally I think diamonds are stupid and a total waste of my money. But the wife really loved it. Could not have done it if it was Fidelity bank or Ally.
Couldn't you do that at BoA?
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jeffyscott
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by jeffyscott »

JackoC wrote: Wed Dec 01, 2021 9:13 amA bit of a tangent, but maybe others have useful experience on this, is using PR/UCR at 2.625% with PayPal Bill Pay with no fee by PP, to providers like utilities which wouldn't take CC's or charge convenience fee. For example I now pay my gas/electric this way. Previously I'd pay directly with BOA PR with $3.95 convenience fee when the bill was >$3.95/.02625~$150 (winter gas bills, sometimes summer electric bills), otherwise with bank bill pay (0% cashback). I tried it first with CCR via PayPal but it coded 'not online' (I've also done it with Chase Freedom when PayPal is a 5% category). The limitation is whether various providers are in the lookup list on PayPal. My water utility well as gas/electric is on it, my sewer utility isn't. My health insurance co isn't on it either, but I see some HI companies on the list.
This did (finally) work for my electric/gas bill. Payment was received, no fee was charged, and balance due is now $0. Hopefully, it does count as a Paypal purchase for the 5% Chase rebate.

It appears that I was able to add water/sewer bill and even our property tax account, haven't yet tried to send a payment to either of those yet, though. That will be something, if I can pay my property tax this way and get a 5% rebate on the full amount by spreading it across our 3 chase freedom cards :moneybag .
EnjoyIt
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by EnjoyIt »

anon_investor wrote: Thu Dec 09, 2021 8:16 pm
EnjoyIt wrote: Thu Dec 09, 2021 2:29 pm
VictorStarr wrote: Wed Dec 08, 2021 11:27 pm
EnjoyIt wrote: Wed Dec 08, 2021 10:30 pm
VictorStarr wrote: Wed Dec 08, 2021 10:00 pm I agree, JP Morgan is a good place to park smallish IRA account and enjoy better banking with Sapphire checking. The problem with trading accounts for better credit cards and better banking is too many accounts to manage :) .
After a year with Chase Sapphire checking I gravitate back to Fidelity CMA, getting rid of extra brokerage account and extra checking feels good. I still have a few more accounts to get rid of.
You got that right. I have:
Chase checking account with multiple credit cards
Chase you invest brokerage
BOA checking account with multiple credit cards
Meril Edge Brokerage
Vanguard Brokerage for my IRA
Etrade for my 401k.

Plus:
M1 account currently open for the signup bonus.
Somewhat similar:
- Chase Sapphire and JP Morgan brokerage - I had Chase accounts for a a year, I like it but I am going to get rid of those accounts and switch to Fidelity CMA for banking
- BofA and Merrill Edge for credit cards - I will keep those for 2-3 years, the biggest benefit for me is paying estimated taxes with a Premium card. I have a US Bank Altitude Reserve (3pt x $1.5 for ApplePay) so the impact of Customized Cash card(s) is small.
- This year I migrated from Vanguard to Fidelity and Schwab, keep residual 529 plan till it is gone in 2022

After I retire in a few years I will keep Fidelity and Schwab for investments and banking, and either Chase, BofA or US Bank for credit cards.
I stay with chase because they are everywhere. We travel a decent amount and I like having the ability to go to an ATM and take out money if there is an emergency. Or more importantly take out a very large sum of money if I really have to. Several years back I bought my wife a diamond. We flew to NY, went to the diamond/jewelry district where we knew someone. Went into a secure building and met the jeweler. He lay out about a dozen diamonds of an already pre-determined price range that he knew about and educated my wife on each diamond which she got to choose. She loved the experience. Afterwards, we went down stairs, walked into a Chase bank and got lots of cash. Quick and easy. We then bought the diamond and proceeded to the next store to pick out the band.

Personally I think diamonds are stupid and a total waste of my money. But the wife really loved it. Could not have done it if it was Fidelity bank or Ally.
Couldn't you do that at BoA?
Probably, but I can’t do that at ally or fidelity.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
endersgame
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by endersgame »

For anyone with more than one BoA card: Does BoA pool all your points or does each card have its own points total?
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

endersgame wrote: Fri Dec 10, 2021 5:06 am For anyone with more than one BoA card: Does BoA pool all your points or does each card have its own points total?
Each card has their own pool of points or cash back. But for most cards you get no additional benefit by not redeeming them immediately.
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

anon_investor wrote: Fri Dec 10, 2021 6:09 am
endersgame wrote: Fri Dec 10, 2021 5:06 am For anyone with more than one BoA card: Does BoA pool all your points or does each card have its own points total?
Each card has their own pool of points or cash back. But for most cards you get no additional benefit by not redeeming them immediately.
One thing I find slightly annoying at least about the Customized Cash Rewards cards: you can set them to redeem the cash back automatically every month, but (1) it only does so at the end of the month and (2) only if you have at least $25 in accrued rewards. On the other hand, if you log in and redeem the rewards manually, you can do so as soon as the statement closes, and with no minimum redemption amount. So, it's better, from a cash maximization perspective, to just do it manually.
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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 Dec 10, 2021 7:24 am
anon_investor wrote: Fri Dec 10, 2021 6:09 am
endersgame wrote: Fri Dec 10, 2021 5:06 am For anyone with more than one BoA card: Does BoA pool all your points or does each card have its own points total?
Each card has their own pool of points or cash back. But for most cards you get no additional benefit by not redeeming them immediately.
One thing I find slightly annoying at least about the Customized Cash Rewards cards: you can set them to redeem the cash back automatically every month, but (1) it only does so at the end of the month and (2) only if you have at least $25 in accrued rewards. On the other hand, if you log in and redeem the rewards manually, you can do so as soon as the statement closes, and with no minimum redemption amount. So, it's better, from a cash maximization perspective, to just do it manually.
Yeah, I noticed that too. When I get the email that I have a new bill, I login and redeem.
sailaway
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by sailaway »

anon_investor wrote: Fri Dec 10, 2021 7:46 am
FedGuy wrote: Fri Dec 10, 2021 7:24 am
anon_investor wrote: Fri Dec 10, 2021 6:09 am
endersgame wrote: Fri Dec 10, 2021 5:06 am For anyone with more than one BoA card: Does BoA pool all your points or does each card have its own points total?
Each card has their own pool of points or cash back. But for most cards you get no additional benefit by not redeeming them immediately.
One thing I find slightly annoying at least about the Customized Cash Rewards cards: you can set them to redeem the cash back automatically every month, but (1) it only does so at the end of the month and (2) only if you have at least $25 in accrued rewards. On the other hand, if you log in and redeem the rewards manually, you can do so as soon as the statement closes, and with no minimum redemption amount. So, it's better, from a cash maximization perspective, to just do it manually.
Yeah, I noticed that too. When I get the email that I have a new bill, I login and redeem.
This does not compute with my simplicity preferences. I just wait. Will likely continue to do so as more and more of our spending is funneled through BoA, as I will soon be platinum honors, as well as DH, doubling the space we have available to us in any given category.
EnjoyIt
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by EnjoyIt »

sailaway wrote: Fri Dec 10, 2021 7:53 am
anon_investor wrote: Fri Dec 10, 2021 7:46 am
FedGuy wrote: Fri Dec 10, 2021 7:24 am
anon_investor wrote: Fri Dec 10, 2021 6:09 am
endersgame wrote: Fri Dec 10, 2021 5:06 am For anyone with more than one BoA card: Does BoA pool all your points or does each card have its own points total?
Each card has their own pool of points or cash back. But for most cards you get no additional benefit by not redeeming them immediately.
One thing I find slightly annoying at least about the Customized Cash Rewards cards: you can set them to redeem the cash back automatically every month, but (1) it only does so at the end of the month and (2) only if you have at least $25 in accrued rewards. On the other hand, if you log in and redeem the rewards manually, you can do so as soon as the statement closes, and with no minimum redemption amount. So, it's better, from a cash maximization perspective, to just do it manually.
Yeah, I noticed that too. When I get the email that I have a new bill, I login and redeem.
This does not compute with my simplicity preferences. I just wait. Will likely continue to do so as more and more of our spending is funneled through BoA, as I will soon be platinum honors, as well as DH, doubling the space we have available to us in any given category.
I used to transfer it manually. I stopped doing it as I see no benefit in for the manual transfer.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
FedGuy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FedGuy »

EnjoyIt wrote: Fri Dec 10, 2021 7:56 amI used to transfer it manually. I stopped doing it as I see no benefit in for the manual transfer.
Well, you potentially get a few days or weeks of having the rewards in your savings account earning 0.03%. Over the course of a few years, that might be a free coffee!
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

EnjoyIt wrote: Fri Dec 10, 2021 7:56 am
sailaway wrote: Fri Dec 10, 2021 7:53 am
anon_investor wrote: Fri Dec 10, 2021 7:46 am
FedGuy wrote: Fri Dec 10, 2021 7:24 am
anon_investor wrote: Fri Dec 10, 2021 6:09 am

Each card has their own pool of points or cash back. But for most cards you get no additional benefit by not redeeming them immediately.
One thing I find slightly annoying at least about the Customized Cash Rewards cards: you can set them to redeem the cash back automatically every month, but (1) it only does so at the end of the month and (2) only if you have at least $25 in accrued rewards. On the other hand, if you log in and redeem the rewards manually, you can do so as soon as the statement closes, and with no minimum redemption amount. So, it's better, from a cash maximization perspective, to just do it manually.
Yeah, I noticed that too. When I get the email that I have a new bill, I login and redeem.
This does not compute with my simplicity preferences. I just wait. Will likely continue to do so as more and more of our spending is funneled through BoA, as I will soon be platinum honors, as well as DH, doubling the space we have available to us in any given category.
I used to transfer it manually. I stopped doing it as I see no benefit in for the manual transfer.
I usually invest my cash back. My CC closing days are in the middle of the month, so I manually redeem it so I can invest it 2 weeks sooner.
djheini
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by djheini »

I have auto-redemption turned on, but if I notice I will do a manual redemption. The auto-redemption only gave me the option to do my checking or Merrill Edge account, whereas the manual redemption has a statement credit option. Since I try not to leave any cash in either of those accounts, it ends up requiring manual action either way (to transfer the money from the account it auto-deposits to once it posts, or to request the statement credit)
Marseille07
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Marseille07 »

I just log in and pay CC & redeem. I also quickly go over the statement to make sure no crazy charges. It takes 1~2 minutes a month, I don't see this as something we have to make it more efficient or automate.
EnjoyIt
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by EnjoyIt »

FedGuy wrote: Fri Dec 10, 2021 8:36 am
EnjoyIt wrote: Fri Dec 10, 2021 7:56 amI used to transfer it manually. I stopped doing it as I see no benefit in for the manual transfer.
Well, you potentially get a few days or weeks of having the rewards in your savings account earning 0.03%. Over the course of a few years, that might be a free coffee!
Thats about how I figured it. Not worth the effort if I can do nothing and let it auto redeem and then pay off some of my card.
anon_investor wrote: Fri Dec 10, 2021 9:17 am ...
I usually invest my cash back. My CC closing days are in the middle of the month, so I manually redeem it so I can invest it 2 weeks sooner.
Thats what I used to do as well, but I got lazy. The reason why I use the BOA ecosystem is because it is much easier than jumping through hoops on every little purchase. A few years ago I did the Chase ink buying of gift cards on sale and using those gift cards for regular spend. It was very time consuming and amounted to about $1k in extra savings compared to a regular 2% cash back card. I ran the math using BOAs ecosystem for the same purchases and the difference is about $300. Basically I spent hours as well as gas millage jumping through hoops.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
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BrandonBogle
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by BrandonBogle »

There is plenty to be said of simplifying your life. It is not much work to manually redeem the rewards, but I generally let it auto-redeem. That said, I’ve occasionally done it manually (particularly when a large purchase credits).
investorpeter
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by investorpeter »

Just got the flier for the new Diamond rewards tiers. What a disappointment. After all the hoopla that was made about the new tiers, the rewards are essentially the same as for Platinum Honors, except for slightly better rates and fee discounts for mortgages and HELOCs. The "lifestyle benefits" are really the same type of benefits that come with many credit cards. I love the phrase on the front of the flyer - "It's not just rewards - it's recognition!". Lol. It's basically just "recognition". "We appreciate your business. Please don't leave us." I guess what bothers me about this is the way it was managed. First the notices about restrictions on daily movement of funds, then an unveiling of a very superficial rewards program. I see no real reason to keep more than the minimum needed for Platinum Honors at BOA.
Lastrun
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

investorpeter wrote: Sat Dec 11, 2021 6:25 pm I see no real reason to keep more than the minimum needed for Platinum Honors at BOA.
Agreed, I think with enough assets to reach the Platinum Honors Level and the new credit card, along with the special cash back cards, that about does it for BofA. Put the rest at Fidelity or Schwab and get the better platform.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Lastrun wrote: Sat Dec 11, 2021 6:41 pm
investorpeter wrote: Sat Dec 11, 2021 6:25 pm I see no real reason to keep more than the minimum needed for Platinum Honors at BOA.
Agreed, I think with enough assets to reach the Platinum Honors Level and the new credit card, along with the special cash back cards, that about does it for BofA. Put the rest at Fidelity or Schwab and get the better platform.
Bingo, that is what I am doing.
calwatch
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by calwatch »

I don't really like splitting accounts though so I will keep much more than $100k in ME for my Roth, to not split the Roth.
SteveInNJ
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by SteveInNJ »

Lastrun wrote: Sat Dec 11, 2021 6:41 pm
investorpeter wrote: Sat Dec 11, 2021 6:25 pm I see no real reason to keep more than the minimum needed for Platinum Honors at BOA.
Agreed, I think with enough assets to reach the Platinum Honors Level and the new credit card, along with the special cash back cards, that about does it for BofA. Put the rest at Fidelity or Schwab and get the better platform.
Stupid question, what do you like in Fidelity / Schwab that would have you split assets? I'm particularly lazy and would keep everything with ML just out of entropy, but when I see brokerage bonuses I play the transfer game.

If I didn't play the transfer game I'd *probably* consider leaving enough for Platinum around in ML and move at least my taxable account to IB so I could take advantage of their low margin rates for borrowing for random things.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

bogosj wrote: Sun Dec 12, 2021 6:20 pm
Lastrun wrote: Sat Dec 11, 2021 6:41 pm
investorpeter wrote: Sat Dec 11, 2021 6:25 pm I see no real reason to keep more than the minimum needed for Platinum Honors at BOA.
Agreed, I think with enough assets to reach the Platinum Honors Level and the new credit card, along with the special cash back cards, that about does it for BofA. Put the rest at Fidelity or Schwab and get the better platform.
Stupid question, what do you like in Fidelity / Schwab that would have you split assets? I'm particularly lazy and would keep everything with ML just out of entropy, but when I see brokerage bonuses I play the transfer game.

If I didn't play the transfer game I'd *probably* consider leaving enough for Platinum around in ML and move at least my taxable account to IB so I could take advantage of their low margin rates for borrowing for random things.
I like Fidelity better than Merrill Edge for taxable ETF investing. Fidelity has fractional share purchasing, Merrill Edge does not. Merrill Edge is not great for tax loss harvesting because you can only transact with a maximum of 4 tax lots at a time, I believe it is up to 200 for Fidelity.
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Cubicle
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Cubicle »

As of this post, there are 2,548 posts on this thread. So I apologize if it has been already mentioned.

I have the Custom Cash Rewards card, 3% category online shopping set already. I set up PayPal bill pay (not PayPal Key) for my electric/gas bill & property taxes; I'm thrilled I can pay with a credit card. But both of those are only earning 1%. I thought being a PayPal transaction would qualify, but I guess the fact it is utilities & taxes reduces it to 1%.

Just a data point to add.
$1 saved = >$1 earned. ✓
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Cubicle wrote: Sun Dec 12, 2021 11:19 pm As of this post, there are 2,548 posts on this thread. So I apologize if it has been already mentioned.

I have the Custom Cash Rewards card, 3% category online shopping set already. I set up PayPal bill pay (not PayPal Key) for my electric/gas bill & property taxes; I'm thrilled I can pay with a credit card. But both of those are only earning 1%. I thought being a PayPal transaction would qualify, but I guess the fact it is utilities & taxes reduces it to 1%.

Just a data point to add.
Thanks for sharing. I plan to try PayPal bill pay this month. I won't use the CCR. Was there a fee?
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