Bank of America/Merrill Edge - Preferred Rewards

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

Post by jeffyscott »

Pu239 wrote: Fri Mar 10, 2023 10:31 pm For those with Platinum Honors and who use the customized cash card for occasional travel, how broad is travel defined? Do Airbnb and VRBO code as travel? We don't travel much but I am looking for a card with better travel cash back benefits than our US Bank Altitude Connect. No AF would be nice!
Not what you asked, but I recently used a Citi Costco card for a VRBO deposit and it was categorized as hotel/lodging and earned 3%. Part of the charge came directly from Vacasa and that also qualified for 3%. I would assume if they are hotels/lodging for one Visa they are that for all.

(Immediately after I had used that card without thinking about it much, I'd thought it was a mistake as I think VRBO and similar had not earned 3% for previous purchases several years ago :?: .)

I converted an altitude connect card to altitude go, that one has no annual fee and 4% on restaurants, as well as a $20 streaming credit that may pay off for us.
Leesbro63
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

I think there was some discussion about free safe deposit boxes for those with $100,000+ at the Merrill/BOFA group. Am I remembering correctly, and how hard is it to get one?
Lyrrad
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lyrrad »

Leesbro63 wrote: Sat Mar 11, 2023 9:32 am I think there was some discussion about free safe deposit boxes for those with $100,000+ at the Merrill/BOFA group. Am I remembering correctly, and how hard is it to get one?
Platinum Honors ($100K tier) gets the box.

Difficulty depends on the branch.

When I wanted to open one, the closest financial center was "temporarily closed" (and still is over a year later). Existing safety deposit boxes could be accessed by appointment only.

Another nearby one had a 9 year waiting list. I called another one and they had a few different boxes available.
leland
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by leland »

Lastrun wrote: Sat Mar 11, 2023 5:59 am Leland, perhaps we can revive this question and confirm. I had a similar post a while back and here is one answer:
Thanks for digging this up - seems quite viable per kevdude's post below, especially as you can drop below 100k after initial (similar to what I did w/ FZDXX and Fidelity when the opportunity presented itself)... I also am aware of being able to roll tbills at Fidelity (and probably should do that or T-direct as I'm not allergic to their website, as crappy as it is). I also am aware of how annoying BofA is, but it's a complicated relationship with a mega bank :)
kevdude wrote: Mon Feb 20, 2023 9:23 pm The initial deposit needs to be done by phone with a representative. You can then make transfers online and I believe with their mobile app. The funds are available in your BofA account immediately.
Do we know if you can transfer into the preferred deposit account immediately, too? E.g. transfer funds from BofA checking there without needing to remember to login the next day? What would be nice if it could be used as high yield checking / billpay or setup as an overdraft account without needing to transfer to BofA first, but at least can pretend there's some minor account security.

Other question, is there a 6 transaction limit on this or not applicable?
unmesh
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by unmesh »

Leesbro63 wrote: Sat Mar 11, 2023 9:32 am I think there was some discussion about free safe deposit boxes for those with $100,000+ at the Merrill/BOFA group. Am I remembering correctly, and how hard is it to get one?
That's what I was told so I got one and they charged me $51. When I contacted them about it, they said it would be credited back after 90 days.

If they don't do it, I will likely have forgotten about it :(
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by LadyGeek »

unmesh wrote: Sat Mar 11, 2023 1:05 pm That's what I was told so I got one and they charged me $51. When I contacted them about it, they said it would be credited back after 90 days.

If they don't do it, I will likely have forgotten about it :(
Simple suggestion - Put a reminder on your calendar.
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unmesh
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by unmesh »

wenchleaf wrote: Fri Mar 10, 2023 7:48 pm
Just to add some addition true Boglehead points against PR:
...
  • You can purchase get Global Entry credits from those with these benefits that don't use the for 1/6~1/5 the asking price.
...
Is there a marketplace of some sort for GE credits or is that a friends and family thing? I'm intrigued about doing this with strangers!
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

dodecahedron wrote: Fri Mar 10, 2023 9:39 pm
atdharris wrote: Thu Mar 09, 2023 8:49 am Can you use e-gift cards from Costco in store? I guess I couldn't use it to buy gas so perhaps the physical route is necessary. I wish Costco had a better online presence than they do, but I guess if what they are doing works for them, why change it?
Indeed you can use egift cards from Costco in store. Frugal Prof, who lives within biking distance of a Costco and uses it as the primary goto grocery store for his large family of 7, has refined this tactic to a science, purchasing thousands of dollars of egift cards a year. (He and his wife have five (!!!) BoA CCR cards between them.)

Check out this blog post:
https://frugalprofessor.com/best-credit ... 9-edition/
Holy moly! I just linked to this guy's site and wow does he do an analysis of the BofA cards. Well thought out plan. Now has me considering Costco E-gift cards. Thx for sharing his site.
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unmesh
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by unmesh »

Hopefully the last episode in my autopay saga, and a happy one at that!

BofA refunded my late fee and the interest they charged and restored my status to "fully paid up" or so they say :happy

The first two items show up when I log in.
WapelloHawk
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by WapelloHawk »

My wife and I recently opened a joint checking account with BoA and a JTWROS Merrill Edge account. We are at the platinum honors level.

I got a PR and CCR credit card, with my wife as an authorized user.

Is it possible to get my wife a CCR with me as the authorized user and take advantage of our current platinum honors status? If so, how would I do that?

Thanks for any insights.
unmesh
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by unmesh »

LadyGeek wrote: Sat Mar 11, 2023 1:07 pm
unmesh wrote: Sat Mar 11, 2023 1:05 pm That's what I was told so I got one and they charged me $51. When I contacted them about it, they said it would be credited back after 90 days.

If they don't do it, I will likely have forgotten about it :(
Simple suggestion - Put a reminder on your calendar.
Good idea! Chances are I'm going to have to go into the branch.

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

Post by bbrock »

So I have my B of a checking account open, my Roth assets are at ME, Clicked on the preferred rewards link, and it just shows that I have to wait the 90 days. I’m going to apply for the CCR and UCR simultaneously.

With the CCR, I really do want to take it vantage of the online shopping opportunity at Costco. Feel uncomfortable, carrying a cash card, so I would like to do the E gift cards. What are people strategies with the E gift cards? how much can one purchase on the E gift cards? Do you also keep a physical cash card for your refunds?
bbrock
stilllurking
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by stilllurking »

You’re better off with the physical Costco Shop cards as you can use them at the food court and gas station. The e-cards are only good for in store purchases and probably online. Though for the latter, you can use your CCR directly and it will code as Online Shopping.

If you return, ask them to issue you a new physical GC.

The amounts for physical and e-cards are the same. $25, 50, 100, 250, 500.
lstone19
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by lstone19 »

lstone19 wrote: Tue Feb 28, 2023 5:08 pm
StewedCarrot wrote: Tue Feb 28, 2023 4:55 pm Has anyone been able to use a non-BoA checking account to autopay their BoA credit card?
Yes, did it just last month. IIRC, Bill Pay > Manage Accounts, then select the "Other Pay From Accounts" tab and click on "Add a Pay From account you own at another institution." Once you do that, you probably need to wait for the verification process to run its course. Then, you should see your credit card in the Payment Center with an Auto Pay button near the bottom. Clicking on that will let you set up autopay from the outside bank you just linked.

From experience, the process for setting up auto-pay with BoA credit cards has changed over the years and has never been intuitive.
Replying to myself, note my last line: "the process for setting up auto-pay with BoA credit cards has changed over the years." I just got bit by this. I have a CCR card that I setup auto-pay on years ago. Apparently that auto-pay system has no connection to the current system and today you can find no reference to it on the BofA website or on your on-line account information. It just continues to work but is otherwise opaque. So I used Bill Pay to do what I thought would change the auto-pay. Nope! Turns out I now had two auto-pays set up on the same account - one through the legacy system and one through Bill Pay. And sure enough, the account was double-paid. Fortunately the amount was only about $130 and the old account it was paid from still had that much in it. Talked to CS and was told the old auto-pay could only be cancelled by phone call. So it is allegedly now cancelled. I guess I'll find out in two months (won't next month as the double payment is giving me a credit balance for the statement that closes in the next day or two).

As much as I like the Preferred Rewards benefits, this really tells me be very careful with anything you do with BofA and I'm putting on hold any further expansion of my relationship with BofA/ME.
Last edited by lstone19 on Tue Mar 14, 2023 9:01 am, edited 1 time in total.
Lyrrad
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lyrrad »

lstone19 wrote: Tue Mar 14, 2023 1:25 am
Replying to myself, note my last line: "the process for setting up auto-pay with BoA credit cards has changed over the years." I just got bit by this. I have a CCR card that I setup auto-pay on years ago. Apparently that auto-pay system has no connection to the current system and today you can find no reference to it on the BofA website or on your on-line account information. It just continues to work but is otherwise opaque. So I used Bill Pay to what I thought would change the auto-pay. Nope! Turns out I now had two auto-pays set up on the same account - one through the legacy system and one through Bill Pay. And sure enough, the account was double-paid. Fortunately the amount was only about $130 and the old account it was paid from still had that much in it. Talked to CS and was told the old auto-pay could only be cancelled by phone call. So it is allegedly now cancelled. I guess I'll find out in two months (won't next month as the double payment is giving me a credit balance for the statement that closes in the next day or two).
Yes, I had the same experience. The "old" autopay system is mentioned on the monthly statement. So, you should be able to confirm it is properly cancelled on the next statement with a positive balance by noting that the auto pay is no longer mentioned on the statement.
slalom
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by slalom »

Still waiting on my $100k ACH to Merrill, it's been pending for about a week, nice chunk of lost interest in there.
sycamore
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by sycamore »

slalom wrote: Tue Mar 14, 2023 2:05 am Still waiting on my $100k ACH to Merrill, it's been pending for about a week, nice chunk of lost interest in there.
Curious what date the assets left your old brokerage, based on its account transaction history?
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by WapelloHawk »

slalom wrote: Tue Mar 14, 2023 2:05 am Still waiting on my $100k ACH to Merrill, it's been pending for about a week, nice chunk of lost interest in there.
My $101k arrived at Merrill on a Friday, wasn't able to invest until after the close the next Thursday. About 6 weeks ago for me.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by WapelloHawk »

slalom wrote: Tue Mar 14, 2023 2:05 am Still waiting on my $100k ACH to Merrill, it's been pending for about a week, nice chunk of lost interest in there.
My $101k arrived at Merrill on a Friday, wasn't able to invest until after the close the next Thursday. So, 6-7 days of lost interest. I agree, unexpected and frustrating.

Timing was early Feb 2023 for me.
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StewedCarrot
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by StewedCarrot »

Lyrrad wrote: Tue Mar 14, 2023 1:43 am
lstone19 wrote: Tue Mar 14, 2023 1:25 am
Replying to myself, note my last line: "the process for setting up auto-pay with BoA credit cards has changed over the years." I just got bit by this. I have a CCR card that I setup auto-pay on years ago. Apparently that auto-pay system has no connection to the current system and today you can find no reference to it on the BofA website or on your on-line account information. It just continues to work but is otherwise opaque. So I used Bill Pay to what I thought would change the auto-pay. Nope! Turns out I now had two auto-pays set up on the same account - one through the legacy system and one through Bill Pay. And sure enough, the account was double-paid. Fortunately the amount was only about $130 and the old account it was paid from still had that much in it. Talked to CS and was told the old auto-pay could only be cancelled by phone call. So it is allegedly now cancelled. I guess I'll find out in two months (won't next month as the double payment is giving me a credit balance for the statement that closes in the next day or two).
Yes, I had the same experience. The "old" autopay system is mentioned on the monthly statement. So, you should be able to confirm it is properly cancelled on the next statement with a positive balance by noting that the auto pay is no longer mentioned on the statement.
Another Autopay quirk - you have to opt-in to E-Bills in order to see the option to start Autopay from an external account.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

stilllurking wrote: Mon Mar 13, 2023 1:25 pm You’re better off with the physical Costco Shop cards as you can use them at the food court and gas station. The e-cards are only good for in store purchases and probably online. Though for the latter, you can use your CCR directly and it will code as Online Shopping.

If you return, ask them to issue you a new physical GC.

The amounts for physical and e-cards are the same. $25, 50, 100, 250, 500.
Thx for your input.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

So with the ME transfer bonus, since I transferred a ROth to them, how is the bonus paid? Will it be paid into a settlement fund in the ME ROTH
brokerage acct?
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by placeholder »

bbrock wrote: Wed Mar 15, 2023 12:17 am So with the ME transfer bonus, since I transferred a ROth to them, how is the bonus paid? Will it be paid into a settlement fund in the ME ROTH
brokerage acct?
That's been my experience.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

I sense your curt reply. Not appreciated. Keep it professional.

[Referenced post has been deleted as inappropriate. Moderator Pops1860]
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

placeholder wrote: Wed Mar 15, 2023 12:28 am
bbrock wrote: Wed Mar 15, 2023 12:17 am So with the ME transfer bonus, since I transferred a ROth to them, how is the bonus paid? Will it be paid into a settlement fund in the ME ROTH
brokerage acct?
That's been my experience.
Thx placeholder.
bbrock
wenchleaf
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by wenchleaf »

bbrock wrote: Mon Mar 13, 2023 11:08 am With the CCR, I really do want to take it vantage of the online shopping opportunity at Costco. Feel uncomfortable, carrying a cash card, so I would like to do the E gift cards. What are people strategies with the E gift cards? how much can one purchase on the E gift cards? Do you also keep a physical cash card for your refunds?
I much prefer digital cards, see here:

viewtopic.php?p=7160518#p7160518

I have never tried at the pump since I have 5% gas cards (also Costco Citi card is 4%)
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

wenchleaf wrote: Wed Mar 15, 2023 11:23 am
bbrock wrote: Mon Mar 13, 2023 11:08 am With the CCR, I really do want to take it vantage of the online shopping opportunity at Costco. Feel uncomfortable, carrying a cash card, so I would like to do the E gift cards. What are people strategies with the E gift cards? how much can one purchase on the E gift cards? Do you also keep a physical cash card for your refunds?
I much prefer digital cards, see here:

viewtopic.php?p=7160518#p7160518

I have never tried at the pump since I have 5% gas cards (also Costco Citi card is 4%)
Thx. I'll check out that link.

Do you keep a dedicated BofA CCR solely for gas?

I am currently reviewing my 2022 yearly credit card spending summaries attempting to analyze where would I get the best usage for the CCR - online shopping, gas, travel.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

Eno Deb wrote: Fri Mar 10, 2023 4:30 pm
bbrock wrote: Fri Mar 10, 2023 4:22 pmSo can you use the TR points to be redeemed as cash back if you don't have the PR card? The points basically work just like the cash back on the UCR card? 2.62% which equals the same as the 2.62 points on each dollar spent.
You can use the points to offset a wide range of travel and dining purchases as far as one year back. It's not a problem in practice and just takes a few taps in the app. But again, you have to consider what you want to use it for. If you don't travel internationally (so you can't benefit from the zero foreign transaction fee) and don't need the rental car CDW, the TR is probably not worth it versus the UCR.
Reviving this Eno Deb, to complement the CCR I am going to apply for, it seems that actually it may be wiser to apply for the TR vs. the UCR. The TR is basically the UCR but with $0 FTF. For the cash back, it is like you said you can apply it as credits on travel and/or dining. Does travel include: lodging and air?
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

bbrock wrote: Wed Mar 15, 2023 12:42 pm
wenchleaf wrote: Wed Mar 15, 2023 11:23 am
bbrock wrote: Mon Mar 13, 2023 11:08 am With the CCR, I really do want to take it vantage of the online shopping opportunity at Costco. Feel uncomfortable, carrying a cash card, so I would like to do the E gift cards. What are people strategies with the E gift cards? how much can one purchase on the E gift cards? Do you also keep a physical cash card for your refunds?
I much prefer digital cards, see here:

viewtopic.php?p=7160518#p7160518

I have never tried at the pump since I have 5% gas cards (also Costco Citi card is 4%)
Thx. I'll check out that link.

Do you keep a dedicated BofA CCR solely for gas?

I am currently reviewing my 2022 yearly credit card spending summaries attempting to analyze where would I get the best usage for the CCR - online shopping, gas, travel.
FYI it can take sometime, but you can get multiple CCRs. I have 3 now.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

anon_investor wrote: Wed Mar 15, 2023 1:43 pm
bbrock wrote: Wed Mar 15, 2023 12:42 pm
wenchleaf wrote: Wed Mar 15, 2023 11:23 am
bbrock wrote: Mon Mar 13, 2023 11:08 am With the CCR, I really do want to take it vantage of the online shopping opportunity at Costco. Feel uncomfortable, carrying a cash card, so I would like to do the E gift cards. What are people strategies with the E gift cards? how much can one purchase on the E gift cards? Do you also keep a physical cash card for your refunds?
I much prefer digital cards, see here:

viewtopic.php?p=7160518#p7160518

I have never tried at the pump since I have 5% gas cards (also Costco Citi card is 4%)
Thx. I'll check out that link.

Do you keep a dedicated BofA CCR solely for gas?

I am currently reviewing my 2022 yearly credit card spending summaries attempting to analyze where would I get the best usage for the CCR - online shopping, gas, travel.
FYI it can take sometime, but you can get multiple CCRs. I have 3 now.
Got it. Thx anon_investor.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by wenchleaf »

bbrock wrote: Wed Mar 15, 2023 12:42 pm
wenchleaf wrote: Wed Mar 15, 2023 11:23 am I much prefer digital cards, see here:

viewtopic.php?p=7160518#p7160518

I have never tried at the pump since I have 5% gas cards (also Costco Citi card is 4%)
Thx. I'll check out that link.

Do you keep a dedicated BofA CCR solely for gas?

I am currently reviewing my 2022 yearly credit card spending summaries attempting to analyze where would I get the best usage for the CCR - online shopping, gas, travel.
Combined have 4 CCRs (much more than I need) and an Unlimited Cash Rewards card. Look up the BofA 2/3/4 rule for getting them as fast as possible.

I already had a 5% gas/EV card (AAA Travel Advantage) though depending on spending, I'd recommend getting the AAA Daily Advantage (5% grocery, 3% gas) instead as you can only have one or the other per person. Note: many dislike those AAA cards as they are with Comenity bank.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

wenchleaf wrote: Wed Mar 15, 2023 1:54 pm
bbrock wrote: Wed Mar 15, 2023 12:42 pm
wenchleaf wrote: Wed Mar 15, 2023 11:23 am I much prefer digital cards, see here:

viewtopic.php?p=7160518#p7160518

I have never tried at the pump since I have 5% gas cards (also Costco Citi card is 4%)
Thx. I'll check out that link.

Do you keep a dedicated BofA CCR solely for gas?

I am currently reviewing my 2022 yearly credit card spending summaries attempting to analyze where would I get the best usage for the CCR - online shopping, gas, travel.
Combined have 4 CCRs (much more than I need) and an Unlimited Cash Rewards card. Look up the BofA 2/3/4 rule for getting them as fast as possible.

I already had a 5% gas/EV card (AAA Travel Advantage) though depending on spending, I'd recommend getting the AAA Daily Advantage (5% grocery, 3% gas) instead as you can only have one or the other per person. Note: many dislike those AAA cards as they are with Comenity bank.
my AAA card used to be BofA - I haven't used it since the switchover to Comenity. Why don't people like dealing with Comenity?
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by wenchleaf »

tj wrote: Wed Mar 15, 2023 2:06 pm my AAA card used to be BofA - I haven't used it since the switchover to Comenity. Why don't people like dealing with Comenity?
https://www.reddit.com/r/CreditCards/co ... ay_beware/
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

wenchleaf wrote: Wed Mar 15, 2023 2:10 pm
tj wrote: Wed Mar 15, 2023 2:06 pm my AAA card used to be BofA - I haven't used it since the switchover to Comenity. Why don't people like dealing with Comenity?
https://www.reddit.com/r/CreditCards/co ... ay_beware/
Yikes - Maybe one of these days I'll cancel it if they don't close it for inactivity first.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by wenchleaf »

tj wrote: Wed Mar 15, 2023 2:38 pm
Yikes - Maybe one of these days I'll cancel it if they don't close it for inactivity first.
#1 and #2 I don't care about. Well, #2 is apparently a semantic issue, current balance actually means last statement balance.

Now #3 is an issue, but if that is fixed then well I'll keep our two AAA cards. These cards are new products from last fall. And you can't get equivalent cash back cards for at least grocery (5%, $10k reward limit, no AF)
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

wenchleaf wrote: Wed Mar 15, 2023 2:43 pm
tj wrote: Wed Mar 15, 2023 2:38 pm
Yikes - Maybe one of these days I'll cancel it if they don't close it for inactivity first.
#1 and #2 I don't care about. Well, #2 is apparently a semantic issue, current balance actually means last statement balance.

Now #3 is an issue, but if that is fixed then well I'll keep our two AAA cards. These cards are new products from last fall. And you can't get equivalent cash back cards for at least grocery (5%, $10k reward limit, no AF)
I don't know how #3 happens...is there any recourse?
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by wenchleaf »

They acknowledged it and said it will be fixed by depositing the rest in the bank account, though I didn't hear of a timeframe
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

Thx for the assistance thus far.

Got off long calls x2 w/ BofA/ME. Got them to link my BofA and ME. Now just need to wait the 90 days for PR. She pre-populated credit cards applications for me. Will apply now for the CCR and the UCR. The Premium Rewards is the next most appealing b/c one card could be used as the complementary card for 3.5% restaurant/travel and 2.625% everywhere else, but it has that annoying $95 fee. Plus, someday the zero FTF will come in handy, but don't need it yet. The next in line is either the TR vs. UCR. So, I'll just decide on the UCR and simultaneously apply for that.

When/if the day comes for international travel, I'll try to remember to apply for the PR card (or the TR).
bbrock
Eno Deb
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Eno Deb »

bbrock wrote: Wed Mar 15, 2023 1:29 pmReviving this Eno Deb, to complement the CCR I am going to apply for, it seems that actually it may be wiser to apply for the TR vs. the UCR. The TR is basically the UCR but with $0 FTF. For the cash back, it is like you said you can apply it as credits on travel and/or dining. Does travel include: lodging and air?
Yes. You can find the list of qualifying categories here under "How Your Travel Credit Works":

https://www.bankofamerica.com/credit-ca ... cale=en_US
WapelloHawk
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by WapelloHawk »

Does anyone know if Simon gift cards count as an online purchase with BoA CCR cards? Thanks.
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

WapelloHawk wrote: Wed Mar 15, 2023 5:21 pm Does anyone know if Simon gift cards count as an online purchase with BoA CCR cards? Thanks.
It's hit and miss. Some have gotten it. I've made a few purchases and not gotten it. I think BofA may have blacklisted the source, but that's just a guess. I now use my PR card to get 2.625% (w/ PH).
WapelloHawk
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by WapelloHawk »

spammagnet wrote: Wed Mar 15, 2023 8:49 pm
WapelloHawk wrote: Wed Mar 15, 2023 5:21 pm Does anyone know if Simon gift cards count as an online purchase with BoA CCR cards? Thanks.
It's hit and miss. Some have gotten it. I've made a few purchases and not gotten it. I think BofA may have blacklisted the source, but that's just a guess. I now use my PR card to get 2.625% (w/ PH).
Thanks.
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

Can someone validate my understanding of the PH qualification schedule? I'm PH with ~110K in ETFs at ME. BofA says I originally qualified for PH as of August 2020. Because I transferred the ETFs elsewhere temporarily I lost that but regained it in ~April of last year after moving the funds back.

I need those funds again for a bonus at Wells-Fargo. The offer expires 4/1, requires funding by day 45, which must be maintained through day 90. If I use most of my ME funds for the WF bonus, I have to move them out by ~5/15 at the latest and can return them to ME after 7/1 at the earliest.

Am I correct that I should be able to keep my PH status? Did that anniversary change when I dropped and regained PH status last year? If so, I can delay funding WF until after that. If it's still August, the money should be back before then.
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

tj wrote: Wed Mar 15, 2023 2:38 pm... if they don't close it for inactivity first.
I just added all my sock-drawer cards that I want to keep active to Amazon, loaded $5 from each to my Amazon gift card account, then deleted the sock-drawer cards. Amazon will use the small total gift card balance before I charges my default credit card.
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

spammagnet wrote: Wed Mar 15, 2023 9:08 pm
tj wrote: Wed Mar 15, 2023 2:38 pm... if they don't close it for inactivity first.
I just added all my sock-drawer cards that I want to keep active to Amazon, loaded $5 from each to my Amazon gift card account, then deleted the sock-drawer cards. Amazon will use the small total gift card balance before I charges my default credit card.
I don't see a reason to even do that. If the card gets closed, one less card to worry about. Or wait and see how the rewards redemption improves and then I'll start using it. 🤷🏻‍♂️
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

Alright. Applied and approved for the CCR, and the UCR. When the time comes for international travel, will apply for the PR card, which is basically a super up TR with a modest fee that can be justified/rationalized given the received rewards.

Thanks for the help and insight thus far. :happy
Last edited by bbrock on Wed Mar 15, 2023 11:31 pm, edited 1 time in total.
bbrock
spammagnet
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by spammagnet »

tj wrote: Wed Mar 15, 2023 10:24 pmI don't see a reason to even do that. If the card gets closed, one less card to worry about. Or wait and see how the rewards redemption improves and then I'll start using it. 🤷🏻‍♂️
Some of my dormant cards are over 20 years old. They're the oldest cards I own and could have a negative impact on my credit score.
vaylie
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by vaylie »

Anyone here use the Unlimited Rewards card to pay their taxes? I don't have any experience with how reliable the third-party processors are. But at 1.85% (payUSATax) fee vs 2.625% cashback that we get, it seems a better deal than paying it via bank ACH. That said, I'd rather nothing go wrong with my tax payment than try to squeeze out 0.775% rewards.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

vaylie wrote: Wed Mar 15, 2023 10:56 pm Anyone here use the Unlimited Rewards card to pay their taxes? I don't have any experience with how reliable the third-party processors are. But at 1.85% (payUSATax) fee vs 2.625% cashback that we get, it seems a better deal than paying it via bank ACH. That said, I'd rather nothing go wrong with my tax payment than try to squeeze out 0.775% rewards.
That’s one of the reasons for me signing up for the UCR. I’m planning to pay this never-before low 5 digit tax bill we are facing this year (definitely underestimated our taxes/DW’s pay raise this year :shock: ) via the UCR. If payusatax is legit, I’m using it.
bbrock
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

If these are the listed vendor pay sites at the IRS website, it would seem that have to be legit.
https://www.irs.gov/payments/pay-your-t ... redit-card
bbrock
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