triceratop wrote:*3!4!/5! wrote:Reiterating
viewtopic.php?p=3172906#p3172906*3!4!/5! wrote:Datapoints: We got Preferred status about two days after opening checking accounts, and it was about 1.5 months after opening/funding brokerage accounts.
In other words, neither account needs to be open for 3 months. The checking accounts instantly fills one of the necessary conditions. And for the tier calculation they use the average daily balance over 3 months (so that will include some zeroes for younger accounts, e.g. a 1.5 month old account that has had a steady $50k for that time will be calculated as having "average daily balance over 3 months" of $25k).
The "average daily balance over 3 months" calculation is updated monthly.
And I tell you that that was not the case for me personally, for whatever that is worth. I had balances that exceeded a balance tier and was not switched over until precisely 90 days had passed. In fact a CSR told me this as well and predicted the exact date that I would be enrolled into Preferred Rewards (the prediction was precisely accurate).
It is possible that their systems are so screwed up that there is a lack of consistency.
I also did not need to have it open for 3 months to qualify - the checking account was opened 1/13 and my platinum preferred rewards was activated on 3/5.
It's possible there systems are inconsistent but my guess is it has to do with the periods for calculating your qualifying balance and not the time the checking account was open that was the driving factor.