Bank of America/Merrill Edge - Preferred Rewards

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

Post by bbrock »

Morning.

1) what is the PR card? I only know about the CCR and the UCR card.

2) I am awaiting the ACAT of assets from my Vanguard Roth IRA to the Roth I opened at ME. Is it too early to apply for both the CCR and UCR simultaneously, or do I have to wait for assets to be received?

3) out of curiosity, do Netfli, Disney, or online streaming services fall under the online shopping category?
bbrock
radiowave
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by radiowave »

Just an FYI, I have been moving cash in to ME investing in FSIXX and as soon as I reached the 50K level I got an email from BoA I achieved Gold Honors status and didn't have to wait the 3 months. If I understand the new system I should qualify for Platinum at some point in next 3 months?

https://promotions.bankofamerica.com/pr ... wards/en
Bogleheads Wiki: https://www.bogleheads.org/wiki/Main_Page
OrangeKiwi
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by OrangeKiwi »

bbrock wrote: Fri Mar 10, 2023 11:48 am Morning.

1) what is the PR card? I only know about the CCR and the UCR card.

2) I am awaiting the ACAT of assets from my Vanguard Roth IRA to the Roth I opened at ME. Is it too early to apply for both the CCR and UCR simultaneously, or do I have to wait for assets to be received?

3) out of curiosity, do Netfli, Disney, or online streaming services fall under the online shopping category?
1) PR is premium rewards credit card, where you get a minimum 2.625% back on everything with platinum honors status, and extra for travel and dining.

3) streaming and subscription services in general do not count as online shopping
GaryA505
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by GaryA505 »

OrangeKiwi wrote: Fri Mar 10, 2023 12:07 pm
bbrock wrote: Fri Mar 10, 2023 11:48 am Morning.

1) what is the PR card? I only know about the CCR and the UCR card.

2) I am awaiting the ACAT of assets from my Vanguard Roth IRA to the Roth I opened at ME. Is it too early to apply for both the CCR and UCR simultaneously, or do I have to wait for assets to be received?

3) out of curiosity, do Netfli, Disney, or online streaming services fall under the online shopping category?
1) PR is premium rewards credit card, where you get a minimum 2.625% back on everything with platinum honors status, and extra for travel and dining.

3) streaming and subscription services in general do not count as online shopping
1) ... subject to the monthly limit.
Get most of it right and don't make any big mistakes. All else being equal, simpler is better. Simple is as simple does.
djheini
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by djheini »

GaryA505 wrote: Fri Mar 10, 2023 12:13 pm
OrangeKiwi wrote: Fri Mar 10, 2023 12:07 pm
bbrock wrote: Fri Mar 10, 2023 11:48 am Morning.

1) what is the PR card? I only know about the CCR and the UCR card.

2) I am awaiting the ACAT of assets from my Vanguard Roth IRA to the Roth I opened at ME. Is it too early to apply for both the CCR and UCR simultaneously, or do I have to wait for assets to be received?

3) out of curiosity, do Netfli, Disney, or online streaming services fall under the online shopping category?
1) PR is premium rewards credit card, where you get a minimum 2.625% back on everything with platinum honors status, and extra for travel and dining.

3) streaming and subscription services in general do not count as online shopping
1) ... subject to the monthly limit.
No monthly limit on the Premium Rewards, Unlimited Cash Rewards or Travel Rewards cards. Just the CCR and similar variants.
GaryA505
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by GaryA505 »

djheini wrote: Fri Mar 10, 2023 12:25 pm
GaryA505 wrote: Fri Mar 10, 2023 12:13 pm
OrangeKiwi wrote: Fri Mar 10, 2023 12:07 pm
bbrock wrote: Fri Mar 10, 2023 11:48 am Morning.

1) what is the PR card? I only know about the CCR and the UCR card.

2) I am awaiting the ACAT of assets from my Vanguard Roth IRA to the Roth I opened at ME. Is it too early to apply for both the CCR and UCR simultaneously, or do I have to wait for assets to be received?

3) out of curiosity, do Netfli, Disney, or online streaming services fall under the online shopping category?
1) PR is premium rewards credit card, where you get a minimum 2.625% back on everything with platinum honors status, and extra for travel and dining.

3) streaming and subscription services in general do not count as online shopping
1) ... subject to the monthly limit.
No monthly limit on the Premium Rewards, Unlimited Cash Rewards or Travel Rewards cards. Just the CCR and similar variants.
I am PH.
Isn't there a monthly limit for the 75% bonus?
So after you hit the limit, you get a minimum of 1.5% and not 2.625%, right?
Get most of it right and don't make any big mistakes. All else being equal, simpler is better. Simple is as simple does.
stilllurking
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by stilllurking »

CCR has a quarterly limit of $2500 spending.
PR and UCR have unlimited rewards with no cap on spending.
GaryA505
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by GaryA505 »

Oh wait, the $2500 limit is only for the 75% bonus on the 3% for the selected category.
Get most of it right and don't make any big mistakes. All else being equal, simpler is better. Simple is as simple does.
GaryA505
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by GaryA505 »

stilllurking wrote: Fri Mar 10, 2023 12:40 pm CCR has a quarterly limit of $2500 spending.
PR and UCR have unlimited rewards with no cap on spending.
Dang, I'm going to use the BofA card more and just keep my Citi Double Cash card as a spare (and for the Virtual CC feature).
Get most of it right and don't make any big mistakes. All else being equal, simpler is better. Simple is as simple does.
stilllurking
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by stilllurking »

GaryA505 wrote: Fri Mar 10, 2023 12:41 pm Oh wait, the $2500 limit is only for the 75% bonus on the 3% for the selected category.
It's actually for both the 3% and 2% categories.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

stilllurking wrote: Fri Mar 10, 2023 12:49 pm
GaryA505 wrote: Fri Mar 10, 2023 12:41 pm Oh wait, the $2500 limit is only for the 75% bonus on the 3% for the selected category.
It's actually for both the 3% and 2% categories.
Wait… on the CCR, the $2500 qtr limit is on the 3% (5.25% after the 75% PH bonus) and 2% (3.5% after the 75% PH bonus) categories?

I thought it was just on the 3% category.

And will someone review for me if it’s broken down at the CCR credit card website, how much is spent in each category or you have to keep an ongoing tally on a spreadsheet?
bbrock
stilllurking
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by stilllurking »

bbrock wrote: Fri Mar 10, 2023 1:18 pm
stilllurking wrote: Fri Mar 10, 2023 12:49 pm
GaryA505 wrote: Fri Mar 10, 2023 12:41 pm Oh wait, the $2500 limit is only for the 75% bonus on the 3% for the selected category.
It's actually for both the 3% and 2% categories.
Wait… on the CCR, the $2500 qtr limit is on the 3% (5.25% after the 75% PH bonus) and 2% (3.5% after the 75% PH bonus) categories?

I thought it was just on the 3% category.

And will someone review for me if it’s broken down at the CCR credit card website, how much is spent in each category or you have to keep an ongoing tally on a spreadsheet?
https://www.bankofamerica.com/credit-ca ... dit-cards/

3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter) and 1% cash back on all other purchases Calculate rewards

You can pretend to change your category and it should show you how much you've spent in each category. Be careful on the time frame shown. I think the spreadsheet way is most accurate.
atdharris
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by atdharris »

Premium Rewards is unlimited for 3.5% back on dining and travel.

Also, you can earn 5.25% back on groceries using the CCR card if you use Kroger Pay, Publix Pay, or Walmart Pay to buy groceries in store.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

If I’m looking at it correctly, the premium rewards has an annual fee of $95, correct?

PR elite is $550. Whereas the UCR and CCR have no annual fee.

I’ll just stick with the CCR and UCR. Worst case scenario even if I don’t track any spending the grocery stores and wholesale clubs falls to 2% which is what it would be anyways with the Costco Citi visa. And then the online shopping drops from 5.25 to 3% as well, correct,?
bbrock
Lyrrad
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lyrrad »

bbrock wrote: Fri Mar 10, 2023 1:50 pm If I’m looking at it correctly, the premium rewards has an annual fee of $95, correct?
Yes, and $25 minimum redemption. I think the signup bonus is pretty good $500 of points on $3000. You also get $100 in airline incidental credit a (calendar) year. AA gift cards can be useful redemptions that have worked in the past. I think Southwest ticket purchases under $100 also count.

For me, the travel category is worth a lot to me as my rent counts as travel but not on non BoA cards, and I don’t have enough CCRs to cover my rent yet.
Eno Deb
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Eno Deb »

bbrock wrote: Fri Mar 10, 2023 1:50 pmI’ll just stick with the CCR and UCR. Worst case scenario even if I don’t track any spending the grocery stores and wholesale clubs falls to 2% which is what it would be anyways with the Costco Citi visa. And then the online shopping drops from 5.25 to 3% as well, correct,?
Once you've reached the $2500 quarterly limit the CCR drops to 1.75% for everything with Platinum Honors.
djheini
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by djheini »

bbrock wrote: Fri Mar 10, 2023 1:50 pm If I’m looking at it correctly, the premium rewards has an annual fee of $95, correct?

PR elite is $550. Whereas the UCR and CCR have no annual fee.

I’ll just stick with the CCR and UCR. Worst case scenario even if I don’t track any spending the grocery stores and wholesale clubs falls to 2% which is what it would be anyways with the Costco Citi visa. And then the online shopping drops from 5.25 to 3% as well, correct,?
The three cards that have 2.62% base earning rates (assuming you're at the 75% bonus level):
  • Premium Rewards: $95 annual fee. $100 airline fee credit per year. 3.5% earn on travel/dining. No foreign transaction fee. Earns cash back ($25 minimum to redeem).
  • Unlimited Cash Rewards: No annual fee. No bonus categories. 3% foreign transaction fee. Earns cash back.
  • Travel Rewards: No annual fee. No bonus categories. No foreign transaction fee. Earns points which you can use to credit against travel purchases. (Can also transfer the points to a Premium Rewards card to redeem as cash instead)
If you don't want the annual fee of the Premium Rewards, it basically comes down to foreign transaction fee vs. having to use your rewards to credit back for travel purchases instead of getting straight cash back.
Eno Deb
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Eno Deb »

djheini wrote: Fri Mar 10, 2023 2:58 pm
  • Premium Rewards: $95 annual fee. $100 airline fee credit per year. 3.5% earn on travel/dining. No foreign transaction fee. Earns cash back ($25 minimum to redeem).
  • Unlimited Cash Rewards: No annual fee. No bonus categories. 3% foreign transaction fee. Earns cash back.
  • Travel Rewards: No annual fee. No bonus categories. No foreign transaction fee. Earns points which you can use to credit against travel purchases. (Can also transfer the points to a Premium Rewards card to redeem as cash instead)
As a small addendum: the TR points can also be used against dining expenses, and the travel category is much broader then the PR's airline credits (also includes things like public transport, parking, bridge tolls etc.). Very easy to redeem. I got one because I wanted a card with no foreign transaction fees and without annual fee.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

Eno Deb wrote: Fri Mar 10, 2023 2:43 pm
bbrock wrote: Fri Mar 10, 2023 1:50 pmI’ll just stick with the CCR and UCR. Worst case scenario even if I don’t track any spending the grocery stores and wholesale clubs falls to 2% which is what it would be anyways with the Costco Citi visa. And then the online shopping drops from 5.25 to 3% as well, correct,?
Once you've reached the $2500 quarterly limit the CCR drops to 1.75% for everything with Platinum Honors.
Thanks for chiming in Eno Deb. I may be mistaken, but doesn't it drop down to the category base (5.25 to 3%; 3.5 to 2%; 1.75 to 1%)?

If not, then it does appear that I am going to have to be tracking categories/spending, which I really don't care to do personally. I am making my cheat-sheet Xls spreadsheet in anticipation of which card for what. I was simply going to have DW and I rely on that (and/or a note I'll create for our iPhones) and let the chips fall where there be, and be done with it.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

Eno Deb wrote: Fri Mar 10, 2023 3:14 pm
djheini wrote: Fri Mar 10, 2023 2:58 pm
  • Premium Rewards: $95 annual fee. $100 airline fee credit per year. 3.5% earn on travel/dining. No foreign transaction fee. Earns cash back ($25 minimum to redeem).
  • Unlimited Cash Rewards: No annual fee. No bonus categories. 3% foreign transaction fee. Earns cash back.
  • Travel Rewards: No annual fee. No bonus categories. No foreign transaction fee. Earns points which you can use to credit against travel purchases. (Can also transfer the points to a Premium Rewards card to redeem as cash instead)
As a small addendum: the TR points can also be used against dining expenses, and the travel category is much broader then the PR's airline credits (also includes things like public transport, parking, bridge tolls etc.). Very easy to redeem. I got one because I wanted a card with no foreign transaction fees and without annual fee.
Now I also see there could be a benefit to the PR card, even at $95, which works out to be no annual fee if you consider you are getting a $100 flight credit fee. Thing is we don't travel much, especially via plane, so we may or may not come in handy rt now. But, it does see like a card to have in the arsenal.

Anyone use all three: UCR, CCR, PR? Or, just double-play it?

My Vanguard Roth IRA transfer already pushed through to ME. Shows as of 3/10. Much quicker than I anticipated. Now, I already have a meaningless free checking account though a work bonus, which shows up in my ME summary. So, to sign up for one of the cards (or probably two at one time - the UCR and CCR) should I go through a link on my ME summary page, or at my BofA checking summary page?
Last edited by bbrock on Fri Mar 10, 2023 3:44 pm, edited 1 time in total.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by sailaway »

bbrock wrote: Fri Mar 10, 2023 3:38 pm
Eno Deb wrote: Fri Mar 10, 2023 2:43 pm
bbrock wrote: Fri Mar 10, 2023 1:50 pmI’ll just stick with the CCR and UCR. Worst case scenario even if I don’t track any spending the grocery stores and wholesale clubs falls to 2% which is what it would be anyways with the Costco Citi visa. And then the online shopping drops from 5.25 to 3% as well, correct,?
Once you've reached the $2500 quarterly limit the CCR drops to 1.75% for everything with Platinum Honors.
Thanks for chiming in Eno Deb. I may be mistaken, but doesn't it drop down to the category base (5.25 to 3%; 3.5 to 2%; 1.75 to 1%)?

If not, then it does appear that I am going to have to be tracking categories/spending, which I really don't care to do personally. I am making my cheat-sheet Xls spreadsheet in anticipation of which card for what. I was simply going to have DW and I rely on that (and/or a note I'll create for our iPhones) and let the chips fall where there be, and be done with it.
It is not the preferred rewards that has the limit, it is the category awards. So once the $2500/ quarter is reached, everything drops to 1%+ preferred rewards bonus.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

djheini wrote: Fri Mar 10, 2023 2:58 pm
bbrock wrote: Fri Mar 10, 2023 1:50 pm If I’m looking at it correctly, the premium rewards has an annual fee of $95, correct?

PR elite is $550. Whereas the UCR and CCR have no annual fee.

I’ll just stick with the CCR and UCR. Worst case scenario even if I don’t track any spending the grocery stores and wholesale clubs falls to 2% which is what it would be anyways with the Costco Citi visa. And then the online shopping drops from 5.25 to 3% as well, correct,?
The three cards that have 2.62% base earning rates (assuming you're at the 75% bonus level):
  • Premium Rewards: $95 annual fee. $100 airline fee credit per year. 3.5% earn on travel/dining. No foreign transaction fee. Earns cash back ($25 minimum to redeem).
  • Unlimited Cash Rewards: No annual fee. No bonus categories. 3% foreign transaction fee. Earns cash back.
  • Travel Rewards: No annual fee. No bonus categories. No foreign transaction fee. Earns points which you can use to credit against travel purchases. (Can also transfer the points to a Premium Rewards card to redeem as cash instead)
If you don't want the annual fee of the Premium Rewards, it basically comes down to foreign transaction fee vs. having to use your rewards to credit back for travel purchases instead of getting straight cash back.
Tx for the clear breakdown djheini.
bbrock
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

bbrock wrote: Fri Mar 10, 2023 3:38 pm
Eno Deb wrote: Fri Mar 10, 2023 2:43 pm
bbrock wrote: Fri Mar 10, 2023 1:50 pmI’ll just stick with the CCR and UCR. Worst case scenario even if I don’t track any spending the grocery stores and wholesale clubs falls to 2% which is what it would be anyways with the Costco Citi visa. And then the online shopping drops from 5.25 to 3% as well, correct,?
Once you've reached the $2500 quarterly limit the CCR drops to 1.75% for everything with Platinum Honors.
Thanks for chiming in Eno Deb. I may be mistaken, but doesn't it drop down to the category base (5.25 to 3%; 3.5 to 2%; 1.75 to 1%)?

If not, then it does appear that I am going to have to be tracking categories/spending, which I really don't care to do personally. I am making my cheat-sheet Xls spreadsheet in anticipation of which card for what. I was simply going to have DW and I rely on that (and/or a note I'll create for our iPhones) and let the chips fall where there be, and be done with it.
After $2.5k of spend per qtr in the 2%/3% catagories? It drops to 1%, but you alway get the 75% boost, so the lowest you will get is 1.75%. To get around this people get multiple CCRs. I have 3 varients of the CCR and a PR. The fact that PR has no spend cap is great. I am paying my taxes on the PR this year. The CC service fee is only 1.85%, PR will get 2.625% cash back, so net I get a 0.775% discount on my taxes.
Eno Deb
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Eno Deb »

bbrock wrote: Fri Mar 10, 2023 3:41 pmNow I also see there could be a benefit to the PR card, even at $95, which works out to be no annual fee if you consider you are getting a $100 flight credit fee. Thing is we don't travel much, especially via plane, so we may or may not come in handy rt now. But, it does see like a card to have in the arsenal.
The thing is that the $100 credit isn't so easy to redeem even if you fly occasionally. It cannot be used against tickets directly, but rather against incidentals like baggage fees, seat upgrades and stuff like that. That's why people sometimes have to jump through hoops to get the credit (like buying AA gift cards and trying to resell them). I used to have the PR and just couldn't justify it anymore since I don't travel as much as I used to before the pandemic, so I exchanged it for a TR. I can still use the 5.25% travel or online shopping categories of one of my CCRs for occasional moderate travel purchases. If you don't need the travel benefits (trip delay insurance etc.) it's hard to justify the PR IMO.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

anon_investor wrote: Fri Mar 10, 2023 3:48 pm
bbrock wrote: Fri Mar 10, 2023 3:38 pm
Eno Deb wrote: Fri Mar 10, 2023 2:43 pm
bbrock wrote: Fri Mar 10, 2023 1:50 pmI’ll just stick with the CCR and UCR. Worst case scenario even if I don’t track any spending the grocery stores and wholesale clubs falls to 2% which is what it would be anyways with the Costco Citi visa. And then the online shopping drops from 5.25 to 3% as well, correct,?
Once you've reached the $2500 quarterly limit the CCR drops to 1.75% for everything with Platinum Honors.
Thanks for chiming in Eno Deb. I may be mistaken, but doesn't it drop down to the category base (5.25 to 3%; 3.5 to 2%; 1.75 to 1%)?

If not, then it does appear that I am going to have to be tracking categories/spending, which I really don't care to do personally. I am making my cheat-sheet Xls spreadsheet in anticipation of which card for what. I was simply going to have DW and I rely on that (and/or a note I'll create for our iPhones) and let the chips fall where there be, and be done with it.
After $2.5k of spend per qtr in the 2%/3% catagories? It drops to 1%, but you alway get the 75% boost, so the lowest you will get is 1.75%. To get around this people get multiple CCRs. I have 3 varients of the CCR and a PR. The fact that PR has no spend cap is great. I am paying my taxes on the PR this year. The CC service fee is only 1.85%, PR will get 2.625% cash back, so net I get a 0.775% discount on my taxes.
What was your main reason to chose the PR vs. UCR?
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

bbrock wrote: Fri Mar 10, 2023 3:41 pm Anyone use all three: UCR, CCR, PR? Or, just double-play it?
I view the UCR and the PR as redundant since they both offer 2.625% base. The question to me is whether the $95 fee is worth it. Unlike the CCR and UCR cards, there is no foreign transaction fee on the PR card. I have been successful with my PR card, and now my PR-E, card getting American egift cards, and United Travel Bank, to credit for the $100 airline incidental fee, and fortunately we use these airlines. Also note that the travel credit will code for luggage fees, seat upgrades, flight change fees, in-flight snacks and wifi, and lounge day passes. You also get the TSA credit amortized at $25 a year, as well as Visa Signature benefits. Point is, if you travel, the $95 is worth it
So, to sign up for one of the cards (or probably two at one time - the UCR and CCR) should I go through a link on my ME summary page, or at my BofA checking summary page?
Apply on the BofA credit card page.

Quote from that page "This online only offer may not be available if you leave this page, if you visit a Bank of America financial center or call the bank"

Long story short I called to apply for a card without seeing this and when the bonus did not come, I called in to ask for it. BofA gave it to me anyway even though technically I did not deserve it. So a rare BofA is not evil data point.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

Eno Deb wrote: Fri Mar 10, 2023 4:06 pm
bbrock wrote: Fri Mar 10, 2023 3:41 pmNow I also see there could be a benefit to the PR card, even at $95, which works out to be no annual fee if you consider you are getting a $100 flight credit fee. Thing is we don't travel much, especially via plane, so we may or may not come in handy rt now. But, it does see like a card to have in the arsenal.
The thing is that the $100 credit isn't so easy to redeem even if you fly occasionally. It cannot be used against tickets directly, but rather against incidentals like baggage fees, seat upgrades and stuff like that. That's why people sometimes have to jump through hoops to get the credit (like buying AA gift cards and trying to resell them). I used to have the PR and just couldn't justify it anymore since I don't travel as much as I used to before the pandemic, so I exchanged it for a TR. I can still use the 5.25% travel or online shopping categories of one of my CCRs for occasional moderate travel purchases. If you don't need the travel benefits (trip delay insurance etc.) it's hard to justify the PR IMO.
So 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.
bbrock
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bbrock »

Lastrun wrote: Fri Mar 10, 2023 4:19 pm
bbrock wrote: Fri Mar 10, 2023 3:41 pm Anyone use all three: UCR, CCR, PR? Or, just double-play it?
I view the UCR and the PR as redundant since they both offer 2.625% base. The question to me is whether the $95 fee is worth it. Unlike the CCR and UCR cards, there is no foreign transaction fee on the PR card. I have been successful with my PR card, and now my PR-E, card getting American egift cards, and United Travel Bank, to credit for the $100 airline incidental fee, and fortunately we use these airlines. Also note that the travel credit will code for luggage fees, seat upgrades, flight change fees, in-flight snacks and wifi, and lounge day passes. You also get the TSA credit amortized at $25 a year, as well as Visa Signature benefits. Point is, if you travel, the $95 is worth it
So, to sign up for one of the cards (or probably two at one time - the UCR and CCR) should I go through a link on my ME summary page, or at my BofA checking summary page?
Apply on the BofA credit card page.

Quote from that page "This online only offer may not be available if you leave this page, if you visit a Bank of America financial center or call the bank"

Long story short I called to apply for a card without seeing this and when the bonus did not come, I called in to ask for it. BofA gave it to me anyway even though technically I did not deserve it. So a rare BofA is not evil data point.
Got it. Thx. I think this is the page you are referring to:
https://www.bankofamerica.com/credit-ca ... dit-cards/
bbrock
Eno Deb
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Eno Deb »

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.
Last edited by Eno Deb on Fri Mar 10, 2023 4:40 pm, edited 1 time in total.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

Eno Deb wrote: Fri Mar 10, 2023 4:06 pm The thing is that the $100 credit isn't so easy to redeem even if you fly occasionally. It cannot be used against tickets directly, but rather against incidentals like baggage fees, seat upgrades and stuff like that.
Respectfully, I view these statements as "almost" incorrect. :wink:

The BofA airline incidental credit codes for the AA egift cards and the United Travel Bank. AA gifts cards do not expire and the Travel Bank is good for 5 years.

These two airlines have major hub operations at a huge number of US cities, as well as feeder regionals in and out of the hubs from countless smaller cities. The gift cards bank can be used to pay for or offset these flights. So the real issue I think is what do you mean by occasional and most people don't have to sell gift cards unless they simply don't travel.

For sure it is easier for me to use my $300 United Travel Bank credits from BofA and $200 from Amex because I live in DC which is a United and American hub. But there is also all the regionals for American in an out of Charlotte, Chicago–O'Hare, Dallas/Fort Worth, Los Angeles, Miami, New York–JFK, New York–LaGuardia, New York-Newark, Philadelphia, Phoenix–Sky Harbor, and for United, Chicago–O'Hare, Houston, Los Angles, San Francisco.

So it is not difficult to use the $100 credit if you travel occasionally, but if you don't then you are correct
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Eno Deb »

Lastrun wrote: Fri Mar 10, 2023 4:39 pmRespectfully, I view these statements as "almost" incorrect. :wink:

The BofA airline incidental credit codes for the AA egift cards and the United Travel Bank. AA gifts cards do not expire and the Travel Bank is good for 5 years.
Yeah, well, as long as BoA doesn't close these loopholes and you actually fly these airlines (and they aren't more expensive than other competitors), that's probably a good solution. But you're still jumping through hoops. :P
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by WapelloHawk »

Lastrun wrote: Fri Mar 10, 2023 4:39 pm
Eno Deb wrote: Fri Mar 10, 2023 4:06 pm The thing is that the $100 credit isn't so easy to redeem even if you fly occasionally. It cannot be used against tickets directly, but rather against incidentals like baggage fees, seat upgrades and stuff like that.
Respectfully, I view these statements as "almost" incorrect. :wink:

The BofA airline incidental credit codes for the AA egift cards and the United Travel Bank. AA gifts cards do not expire and the Travel Bank is good for 5 years.

These two airlines have major hub operations at a huge number of US cities, as well as feeder regionals in and out of the hubs from countless smaller cities. The gift cards bank can be used to pay for or offset these flights. So the real issue I think is what do you mean by occasional and most people don't have to sell gift cards unless they simply don't travel.

For sure it is easier for me to use my $300 United Travel Bank credits from BofA and $200 from Amex because I live in DC which is a United and American hub. But there is also all the regionals for American in an out of Charlotte, Chicago–O'Hare, Dallas/Fort Worth, Los Angeles, Miami, New York–JFK, New York–LaGuardia, New York-Newark, Philadelphia, Phoenix–Sky Harbor, and for United, Chicago–O'Hare, Houston, Los Angles, San Francisco.

So it is not difficult to use the $100 credit if you travel occasionally, but if you don't then you are correct
I book the vast majority of my flights through Cap One with my Venture X card to get the 5% ticket discount. My wife and I basically never check bags or buy in flight drinks, etc. So, I have viewed the PR $100 perk as more or less useless to me.

However, I think you are saying that we could use the $100 to buy $100 annually in AA gift cards that we could let accumulate over the years and eventually have enough for a ticket with AA?
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by aj44 »

I’ve already met the $300 travel credit this year for the Premium Elite using it for seat selection and baggage add ons. With my height I have to upgrade my seat anyway unless I want a world of misery so isn’t difficult at all for me to get these credits with a few flights a year.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

WapelloHawk wrote: Fri Mar 10, 2023 4:52 pm However, I think you are saying that we could use the $100 to buy $100 annually in AA gift cards that we could let accumulate over the years and eventually have enough for a ticket with AA?
Yes

or for a United ticket

My point here is not to argue, but that it is not difficult for most US folks to recover the annual fee with a credit on an American or United flight.

But if you are a true blue Boglehead driving your Subaru to the satellite parking area at the airport, boarding your 5:50am Allegiant flight, with your snack bag, yep this card is not for you. :mrgreen: :twisted:

The point about the "loophole" is understood, but this whole program could be nerfed. Look back at some of that concern when the reorganized the tiers a year or so ago.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by WapelloHawk »

Lastrun wrote: Fri Mar 10, 2023 5:16 pm
WapelloHawk wrote: Fri Mar 10, 2023 4:52 pm However, I think you are saying that we could use the $100 to buy $100 annually in AA gift cards that we could let accumulate over the years and eventually have enough for a ticket with AA?
Yes

or for a United ticket

My point here is not to argue, but that it is not difficult for most US folks to recover the annual fee with a credit on an American or United flight.

But if you are a true blue Boglehead driving your Subaru to the satellite parking area at the airport, boarding your 5:50am Allegiant flight, with your snack bag, yep this card is not for you. :mrgreen: :twisted:

The point about the "loophole" is understood, but this whole program could be nerfed. Look back at some of that concern when the reorganized the tiers a year or so ago.
Not a Subaru, but how about a Mazda? Thanks for the tip!
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Lastrun wrote: Fri Mar 10, 2023 5:16 pm
WapelloHawk wrote: Fri Mar 10, 2023 4:52 pm However, I think you are saying that we could use the $100 to buy $100 annually in AA gift cards that we could let accumulate over the years and eventually have enough for a ticket with AA?
Yes

or for a United ticket

My point here is not to argue, but that it is not difficult for most US folks to recover the annual fee with a credit on an American or United flight.

But if you are a true blue Boglehead driving your Subaru to the satellite parking area at the airport, boarding your 5:50am Allegiant flight, with your snack bag, yep this card is not for you. :mrgreen: :twisted:

The point about the "loophole" is understood, but this whole program could be nerfed. Look back at some of that concern when the reorganized the tiers a year or so ago.
I was previously able to sell the American Airlines eGC. But since no one is buying, I am just going to keep the free $100 cards until I have an AA flight or can give it to a close relative.

You actually get $3.50 cash back on the $100 AA eGC purchase. The AA eGC doesn't expire and can be used by anyone, I read the United Travel Bank expires after 5 years and cannot be transferred.

I used the $100 Global Entry reimbursement.

So I am recouping the $95 annual fee. I like that it is no foreign transaction fee and gets unlimited boosted cash back of 3.5% on dinning/travel. We have a big family, so any international travel will blow past any CCR spend cap, plus foreign transaction fees. The PR is a good catch all card for me.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Eno Deb »

Lastrun wrote: Fri Mar 10, 2023 5:16 pmMy point here is not to argue, but that it is not difficult for most US folks to recover the annual fee with a credit on an American or United flight.

But if you are a true blue Boglehead driving your Subaru to the satellite parking area at the airport, boarding your 5:50am Allegiant flight, with your snack bag, yep this card is not for you. :mrgreen: :twisted:
Heh. :D I've never even heard of this airline. I admit I now often use Southwest for domestic short-distance though, simply because they fly from a smaller airport nearby.

Frankly for me it's mostly about simplicity these days. I don't want to have to think about finding ways to earn an airline credit every year, keep track of gift card balances or search for opportunities to use them. I also don't want to deal with complicated point systems and whatnot. So I got rid of all the highfalutin travel credit cards. No more metal in my wallet either. :mrgreen: The BoA cashback cards work great for me, because they produce cashback (auto-redeemed of course) without having to think about it. The only card with an annual fee that I have kept is the old grandfathered Chase IHG card, which for $49 gives me a free night every year and Platinum status at IHG hotels (which often gets me free room upgrades).
Last edited by Eno Deb on Fri Mar 10, 2023 7:46 pm, edited 1 time in total.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Eno Deb wrote: Fri Mar 10, 2023 7:42 pm
Lastrun wrote: Fri Mar 10, 2023 5:16 pmMy point here is not to argue, but that it is not difficult for most US folks to recover the annual fee with a credit on an American or United flight.

But if you are a true blue Boglehead driving your Subaru to the satellite parking area at the airport, boarding your 5:50am Allegiant flight, with your snack bag, yep this card is not for you. :mrgreen: :twisted:
Heh. :D I've never even heard of this airline. I admit I now often use Southwest for domestic short-distance though, simply because they fly from a smaller airport nearby.

Frankly for me it's mostly about simplicity these days. I don't want to have to think about finding ways to earn an airline credit every year, keep track of gift card balances or search for opportunities to use them. I also don't want to deal with complicated point systems and whatnot. So I got rid of all the highfalutin travel credit cards. No more metal in my wallet either. :mrgreen: The only card with an annual fee that I have kept is the old grandfathered Chase IHG card, which for $49 gives me a free night every year and Platinum status at IHG hotels (which often gets me free room upgrades).
If you fly American or United it isn't a lot of work. If you don't then I agree it may be a burden. But I think that people that go after the BoA cash back boost are trying to optimize return. I am paying my taxes with my PR since the CC processing fee is 1.85% and the cash back is 2.625%. So I am basically getting a 0.775% discount on my taxes!
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by wenchleaf »

Lastrun wrote: Fri Mar 10, 2023 5:16 pm But if you are a true blue Boglehead driving your Subaru to the satellite parking area at the airport, boarding your 5:50am Allegiant flight, with your snack bag, yep this card is not for you. :mrgreen: :twisted:
Just to add some addition true Boglehead points against PR:
  • Incidentals is limited to flights originating from a US airport on a qualifying US carrier
  • Harder to offload AA Gift Cards as of last year
  • 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.
  • All traveling members need GE/TSA-Pre or else it's a bit useless.
  • PR's 3.5% travel/dining and no foreign transaction fees are diminished by:
  • CapitalOne QuickSilver exist for 1.5% everywhere ($8400 breakeven point in isolation)
  • Wells Fargo Autograph (3% uncapped, no FTF)
  • BofA TR, though limitations on redemption, effectively 1.6% if redeemed without restrictions
  • CCR's 5.25% travel/dining (capped as mentioned at $2500/quarter/card and a Foreign Transaction Fee)
BofA PR does have some decent travel insurance though and can certainly simplify things depending on your situation. If you American/United aren't regularly the best options for you, it's just not as good value as it once was. I have a UCR from not traveling during the pandemic, but will probably switch to PR to try it out for some international travel for the next couple of years.
bbrock wrote: Fri Mar 10, 2023 4:22 pm
So 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.
Eno Deb wrote: Fri Mar 10, 2023 4:30 pmYou 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.
To add to to this, you can redeem it for straight up cashback at 0.6x rate, though that makes the 2.625% a 1.575% cash back.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Eno Deb »

anon_investor wrote: Fri Mar 10, 2023 7:46 pmBut I think that people that go after the BoA cash back boost are trying to optimize return. I am paying my taxes with my PR since the CC processing fee is 1.85% and the cash back is 2.625%. So I am basically getting a 0.775% discount on my taxes!
RIght, but I can get the same with the UCR or TR without paying an annual fee. I use the UCR and my 2 CCRs opportunistically (and the TR when traveling), but I don't try to squeeze every last penny out of it. Diminishing returns. ...
Last edited by Eno Deb on Fri Mar 10, 2023 7:52 pm, edited 2 times in total.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

wenchleaf wrote: Fri Mar 10, 2023 7:48 pm
Lastrun wrote: Fri Mar 10, 2023 5:16 pm But if you are a true blue Boglehead driving your Subaru to the satellite parking area at the airport, boarding your 5:50am Allegiant flight, with your snack bag, yep this card is not for you. :mrgreen: :twisted:
Just to add some addition true Boglehead points against PR:
  • Incidentals is limited to flights originating from a US airport on a qualifying US carrier
  • Harder to offload AA Gift Cards as of last year
  • 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.
  • All traveling members need GE/TSA-Pre or else it's a bit useless.
  • PR's 3.5% travel/dining and no foreign transaction fees are diminished by:
  • CapitalOne QuickSilver exist for 1.5% everywhere ($8400 breakeven point in isolation)
  • Wells Fargo Autograph (3% uncapped, no FTF)
  • BofA TR, though limitations on redemption, effectively 1.6% if redeemed without restrictions
  • CCR's 5.25% travel/dining (capped as mentioned at $2500/quarter/card and a Foreign Transaction Fee)
BofA PR does have some decent travel insurance though and can certainly simplify things depending on your situation. If you American/United aren't regularly the best options for you, it's just not as good value as it once was. I have a UCR from not traveling during the pandemic, but will probably switch to PR to try it out for some international travel for the next couple of years.
bbrock wrote: Fri Mar 10, 2023 4:22 pm
So 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.
Eno Deb wrote: Fri Mar 10, 2023 4:30 pmYou 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.
To add to to this, you can redeem it for straight up cashback at 0.6x rate, though that makes the 2.625% a 1.575% cash back.
I think kids under a certain age automatically get TSA-pre on their boarding passes if all the adults in the party have it. But everyone in the party needs GE.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

wenchleaf wrote: Fri Mar 10, 2023 7:48 pm
[*]CapitalOne QuickSilver exist for 1.5% everywhere ($8400 breakeven point in isolation)
[*]Wells Fargo Autograph (3% uncapped, no FTF)
This is the exact set my daughter and I came up with for her. Very good combo. With the recent issues with Alliant, if I ever left BofA, this would likely be a simple option for low travel need and the 3% categories on the Autograph are better than the Chase Sapphire
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by leland »

I'm sure it's around here somewhere, but does Preferred Deposit allow you to transfer to/from BofA without a sell/settle period first?

Given the SVB implosion may move some HYSA funds to safer shores. If Preferred Deposit is a bit more seamless than using one of the MMFs the tiny yield hit and FDIC insurance might be worthwhile. Despite being mostly at Fidelity I still use BofA for most of my bill pay and transfers - perhaps the worst annoying main checking account to have with their ACH push fee :happy
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by WapelloHawk »

Lastrun wrote: Fri Mar 10, 2023 5:16 pm
WapelloHawk wrote: Fri Mar 10, 2023 4:52 pm However, I think you are saying that we could use the $100 to buy $100 annually in AA gift cards that we could let accumulate over the years and eventually have enough for a ticket with AA?
Yes

or for a United ticket

My point here is not to argue, but that it is not difficult for most US folks to recover the annual fee with a credit on an American or United flight.

But if you are a true blue Boglehead driving your Subaru to the satellite parking area at the airport, boarding your 5:50am Allegiant flight, with your snack bag, yep this card is not for you. :mrgreen: :twisted:

The point about the "loophole" is understood, but this whole program could be nerfed. Look back at some of that concern when the reorganized the tiers a year or so ago.
So I don’t screw up the purchase, are the AA gift cards you mention the ones available at giftcards.aa.com? Thanks.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by dodecahedron »

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

Post by Pu239 »

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!
Between the idea And the reality...Between the motion And the act...Falls the Shadow - T. S. Eliot
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by wenchleaf »

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?
Yes and I find it way easier to use e-gift cards than physical ones. ~30 minute (max I've ever seen is 2 hours) delay from ordering until it's received in the email (e.g. can order on the way to the store), can leave an email draft with remaining balance, no losing cards, can tack on food court orders at regular checkout. Self-check now has an option for it
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!
Maybe not the exact answer you are looking for but I buy Airbnb with Paypal, and anything online that can be paid with Paypal, google pay, amazon pay, etc. is categorized as Online. Online is separate from MCC (category), it's a separate identifier on a transaction and thus applies to many things, including some mobile app payments in store for Walmart/Target/etc.

EDIT: for MCC category, this site does list Airbnb and VRBO as travel: https://awardwallet.com/en/merchants
Last edited by wenchleaf on Mon Jul 17, 2023 12:31 am, edited 5 times in total.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by JDCarpenter »

Eno Deb wrote: Fri Mar 10, 2023 3:14 pm
djheini wrote: Fri Mar 10, 2023 2:58 pm
  • Premium Rewards: $95 annual fee. $100 airline fee credit per year. 3.5% earn on travel/dining. No foreign transaction fee. Earns cash back ($25 minimum to redeem).
  • Unlimited Cash Rewards: No annual fee. No bonus categories. 3% foreign transaction fee. Earns cash back.
  • Travel Rewards: No annual fee. No bonus categories. No foreign transaction fee. Earns points which you can use to credit against travel purchases. (Can also transfer the points to a Premium Rewards card to redeem as cash instead)
As a small addendum: the TR points can also be used against dining expenses, and the travel category is much broader then the PR's airline credits (also includes things like public transport, parking, bridge tolls etc.). Very easy to redeem. I got one because I wanted a card with no foreign transaction fees and without annual fee.
Yes, the travel category is quite broad. We use Chase Sapphire reserve for our hardcore travel/dining, but never have a problem redeeming the points from the BoA TR card, which otherwise is our main card. Weirdly enough, one of our online wine sellers (wine access) qualifies as "travel," which makes it super easy!
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 Lastrun »

WapelloHawk wrote: Fri Mar 10, 2023 8:48 pm
So I don’t screw up the purchase, are the AA gift cards you mention the ones available at giftcards.aa.com? Thanks.
Yes that is correct, and two absolutes

1. Do not purchase more than $100 per transaction
2. Virtual (ecard only) Card only no physical card

I have read elsewhere that the AA physical cards do not code.

As a personal anecdote, when I switched to the PR-E card last year, I purchased a lump sum $300 United Travel bank credit (versus the $100 I was used to with jut the PR) and it did not code. I then purchased three separate $100 credits and they all coded.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

leland wrote: Fri Mar 10, 2023 8:22 pm I'm sure it's around here somewhere, but does Preferred Deposit allow you to transfer to/from BofA without a sell/settle period first?

Given the SVB implosion may move some HYSA funds to safer shores. If Preferred Deposit is a bit more seamless than using one of the MMFs the tiny yield hit and FDIC insurance might be worthwhile. Despite being mostly at Fidelity I still use BofA for most of my bill pay and transfers - perhaps the worst annoying main checking account to have with their ACH push fee :happy
Leland, perhaps we can revive this question and confirm. I had a similar post a while back and here is one answer:
kevdude wrote: Mon Feb 20, 2023 9:23 pm
Lastrun wrote: Sat Feb 18, 2023 10:01 am Could someone who uses Preferred Deposit at Merrill answer a few questions.

What I am trying to do: Replace Ally checking and savings with BofA/ME for cash and bill pay. Currently, I have 2 months expenses at Ally in Savings and transfer from savings to checking to pay bills once a month, and then replace with income 1-2 weeks later. I like that I can immediately move the cash from savings and then run the bills.

Some points:
1. I have been with Ally and BofA/ME for a while now, so I don't need replies about other banks/brokers. Yes, I know that I can auto-roll t-bills at Fidelity. :D
2. I have most of my other cash (property taxes, car and vacation funds) at Vanguard in VMFXX. Yes, I know that I can can auto-roll t-bills at Fidelity. :twisted:
3. I only pay about 2-3 credit card bills per month (that's it) and I "pull" as this is my preferred method and do not use auto-pay or bill pay. Yes, I know that BofA's bill pay system is less than stellar.
4. I know Merrill has plenty of good MMF options now, but I am specifically interested in something where I can get immediate liquidity in checking.
Edit" 5. I know Preferred Deposit has a $100k minimum.

So the questions.

First, Preferred Deposit shows as a non-sweep fund and that an order must be placed, so can that order be placed online?

Second, when are funds available for transfer from ME to BofA checking? T+0, T+1??
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.
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