"Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

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exigent
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by exigent » Sat Dec 15, 2018 12:01 pm

Can anyone that has one of these cards, along with authorized users, please let us know whether or not the different cards on the same account have the same or different numbers? Some issuers (e.g., Amex and Barclay's) issue different card numbers for each authorized user on the same account, while others (e.g., Citi) use the same card number for all users.

Trism
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Trism » Sat Dec 15, 2018 12:09 pm

exigent wrote:
Sat Dec 15, 2018 12:01 pm
Can anyone that has one of these cards, along with authorized users, please let us know whether or not the different cards on the same account have the same or different numbers? Some issuers (e.g., Amex and Barclay's) issue different card numbers for each authorized user on the same account, while others (e.g., Citi) use the same card number for all users.
We have a Cash Rewards Visa that is a joint account. Same number for both cards.

No AUs, so I can't comment on that.

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b0B
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by b0B » Sat Dec 15, 2018 12:13 pm

exigent wrote:
Sat Dec 15, 2018 12:01 pm
Can anyone that has one of these cards, along with authorized users, please let us know whether or not the different cards on the same account have the same or different numbers? Some issuers (e.g., Amex and Barclay's) issue different card numbers for each authorized user on the same account, while others (e.g., Citi) use the same card number for all users.
"There's a DoC page for that."
https://www.doctorofcredit.com/card-iss ... zed-users/

MisterBill
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Sat Dec 15, 2018 1:31 pm

whodidntante wrote:
Sat Dec 15, 2018 11:57 am
I think people have recently reported that a credit increase is a soft pull, although I've never asked for one myself.
Thanks, that is good to know.

theplayer11
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by theplayer11 » Wed Dec 19, 2018 2:09 pm

where are people with Merrill parking their short term money? I'm finding it hard to find their money market options

deltaneutral83
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by deltaneutral83 » Wed Dec 19, 2018 2:46 pm

This will work nicely for me, and I assume everyone on here is using this card for the platinum preferred rewards. I have both the cash rewards and premium rewards cards, I will be selecting dining as the 5.25% category for this particular situation, very solid, and beats any other card for dining in perpetuity (including the CSR) up to $2,500 a quarter.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by indexfundfan » Wed Dec 19, 2018 3:04 pm

theplayer11 wrote:
Wed Dec 19, 2018 2:09 pm
where are people with Merrill parking their short term money? I'm finding it hard to find their money market options
There's no good MMF option. Use SHV or BIL instead.
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theplayer11
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by theplayer11 » Wed Dec 19, 2018 3:20 pm

indexfundfan wrote:
Wed Dec 19, 2018 3:04 pm
theplayer11 wrote:
Wed Dec 19, 2018 2:09 pm
where are people with Merrill parking their short term money? I'm finding it hard to find their money market options
There's no good MMF option. Use SHV or BIL instead.
that's too bad..looking for something where I won't need to report sale proceeds on schedule D with multiple in and outs during the year.

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elcassador
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by elcassador » Wed Dec 19, 2018 9:20 pm

MisterBill wrote:
Fri Dec 14, 2018 4:43 pm
What has people's experiences been getting additional cards approved at BofA? I already have a regular Cash Rewards card and an MLB card but would like to get another so I can have a third 5.25% category. Also have the Travel Reward and Premium Rewards card. Last time I got a new card they took some of the credit line from another card, and have had to move CL around. In fact, at the moment I have only a $200 CL on the MLB card and will have to fix that before I start using it for the new 5.25% category.

I assume it would be best if I got a different card like the Susan G Komen rather than another of the regular CR cards.
I had an issue recently. I have had the cash back card and Platinum Honors tier for over a year and then applied for the Premium Rewards card and was denied. The reason, which could only be stated via snail mail, was something along the lines of "credit amount is sufficient". I was frustrated. I spent way too much energy figuring out if there was a remedy and even spoke to a credit analyst.

What was most surprising is about two weeks later I received another letter in the mail from BoA stating they had increased my line of credit by 3k, which didn't make any sense to me.

MisterBill
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Wed Dec 19, 2018 11:04 pm

theplayer11 wrote:
Wed Dec 19, 2018 2:09 pm
where are people with Merrill parking their short term money? I'm finding it hard to find their money market options
There is likely a thread discussing this. If not, please start one rather than discussing it here. Thanks.

MisterBill
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Wed Dec 19, 2018 11:06 pm

elcassador wrote:
Wed Dec 19, 2018 9:20 pm
I had an issue recently. I have had the cash back card and Platinum Honors tier for over a year and then applied for the Premium Rewards card and was denied. The reason, which could only be stated via snail mail, was something along the lines of "credit amount is sufficient". I was frustrated. I spent way too much energy figuring out if there was a remedy and even spoke to a credit analyst.

What was most surprising is about two weeks later I received another letter in the mail from BoA stating they had increased my line of credit by 3k, which didn't make any sense to me.
How many BofA cards do you currently have?

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elcassador
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by elcassador » Wed Dec 19, 2018 11:21 pm

MisterBill wrote:
Wed Dec 19, 2018 11:06 pm
elcassador wrote:
Wed Dec 19, 2018 9:20 pm
I had an issue recently. I have had the cash back card and Platinum Honors tier for over a year and then applied for the Premium Rewards card and was denied. The reason, which could only be stated via snail mail, was something along the lines of "credit amount is sufficient". I was frustrated. I spent way too much energy figuring out if there was a remedy and even spoke to a credit analyst.

What was most surprising is about two weeks later I received another letter in the mail from BoA stating they had increased my line of credit by 3k, which didn't make any sense to me.
How many BofA cards do you currently have?
One.

MisterBill
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Wed Dec 19, 2018 11:23 pm

elcassador wrote:
Wed Dec 19, 2018 11:21 pm
MisterBill wrote:
Wed Dec 19, 2018 11:06 pm
How many BofA cards do you currently have?
One.
Ouch!

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b0B
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by b0B » Wed Dec 19, 2018 11:41 pm

theplayer11 wrote:
Wed Dec 19, 2018 3:20 pm
indexfundfan wrote:
Wed Dec 19, 2018 3:04 pm
theplayer11 wrote:
Wed Dec 19, 2018 2:09 pm
where are people with Merrill parking their short term money? I'm finding it hard to find their money market options
There's no good MMF option. Use SHV or BIL instead.
that's too bad..looking for something where I won't need to report sale proceeds on schedule D with multiple in and outs during the year.
You have identified a definite deficiency with Merrill Edge. There are pros and cons. The CC cash back is good: 2.625% to 5.25%, and there are CC and brokerage bonuses. (The bank accounts are useless, so ignore those. Just open checking (required) and keep $0.01 there.) But you have to figure out if moving $100k in assets to Merrill Edge has any opportunity cost, to see if it's worthwhile.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by deanmoriarty » Wed Dec 19, 2018 11:53 pm

b0B wrote:
Wed Dec 19, 2018 11:41 pm
theplayer11 wrote:
Wed Dec 19, 2018 3:20 pm
indexfundfan wrote:
Wed Dec 19, 2018 3:04 pm
theplayer11 wrote:
Wed Dec 19, 2018 2:09 pm
where are people with Merrill parking their short term money? I'm finding it hard to find their money market options
There's no good MMF option. Use SHV or BIL instead.
that's too bad..looking for something where I won't need to report sale proceeds on schedule D with multiple in and outs during the year.
You have identified a definite deficiency with Merrill Edge. There are pros and cons. The CC cash back is good: 2.625% to 5.25%, and there are CC and brokerage bonuses. (The bank accounts are useless, so ignore those. Just open checking (required) and keep $0.01 there.) But you have to figure out if moving $100k in assets to Merrill Edge has any opportunity cost, to see if it's worthwhile.
Just genuinely curious: why do you say checking is useless? I’ve had my main checking account at BOA for the longest time (about 10 years) and can’t say I’m really disappointed. I just keep enough liquidity for one month of expenses and keep the rest in Ally savings or Marcus savings, but I’ve overall had excellent service. Hell, for work I find myself having to do instant wire transfers (not ACH) quite frequently and BOA even waived the fee for those, after I asked. Another time they helped me dig through a digital scan of a check I cashed through them 8 years prior, because I needed to see what was written in the reason. Without even mentioning the platinum privileges which keep on giving. It’s safe to say I never paid them a single dime for the checking account.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by indexfundfan » Sat Dec 29, 2018 11:07 am

Does anyone know what does the "online shopping" category cover? Does it include Amazon? (Or is Amazon classified as "bookstore"?)
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whodidntante
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by whodidntante » Sat Dec 29, 2018 11:12 am

theplayer11 wrote:
Wed Dec 19, 2018 2:09 pm
where are people with Merrill parking their short term money? I'm finding it hard to find their money market options
Certain ultrashort funds look OK to me. ICSH (yield 2.95%) if you're OK with apparently modest credit risk, SHV (2.32%) if you're not. I don't carry cash but I do use those funds as a staging area. Both trade easily.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Clever_Username » Sat Dec 29, 2018 11:32 am

I have this credit card -- it's pretty much the only card I use (I have another that I had for over a dozen years before this one, with no rewards, that I spend $20 on each month). I need to remember to figure out which categories I spend the most on so I can get the better rewards for it. Mine isn't 5.25% because I have maybe $7000, tops, at BofA at any given time, not including a day or two when my monthly paycheck comes in and before the money goes out for mortgage and further investing.

My rewards value on it are just 1.1%/2.2%/3.3%, because there's a 10% bonus for depositing the rewards into a BofA checking account... which I do just so it can show up without me thinking about it. Every end of month I clear the account down to a little over a month's expenses.
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b0B
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by b0B » Sat Dec 29, 2018 11:39 am

indexfundfan wrote:
Sat Dec 29, 2018 11:07 am
Does anyone know what does the "online shopping" category cover? Does it include Amazon? (Or is Amazon classified as "bookstore"?)
Presumably it will be MCC-based, but lots of people would want to know what counts as what, and the information will come out (based on people's experiences) fairly quickly. I'd expect the DoC website
https://www.doctorofcredit.com/bank-of- ... -category/
would start a new thread with people gathering datapoints.

Trism
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Trism » Sat Dec 29, 2018 6:02 pm

deanmoriarty wrote:
Wed Dec 19, 2018 11:53 pm
b0B wrote:
Wed Dec 19, 2018 11:41 pm
theplayer11 wrote:
Wed Dec 19, 2018 3:20 pm
indexfundfan wrote:
Wed Dec 19, 2018 3:04 pm
theplayer11 wrote:
Wed Dec 19, 2018 2:09 pm
where are people with Merrill parking their short term money? I'm finding it hard to find their money market options
There's no good MMF option. Use SHV or BIL instead.
that's too bad..looking for something where I won't need to report sale proceeds on schedule D with multiple in and outs during the year.
You have identified a definite deficiency with Merrill Edge. There are pros and cons. The CC cash back is good: 2.625% to 5.25%, and there are CC and brokerage bonuses. (The bank accounts are useless, so ignore those. Just open checking (required) and keep $0.01 there.) But you have to figure out if moving $100k in assets to Merrill Edge has any opportunity cost, to see if it's worthwhile.
Just genuinely curious: why do you say checking is useless? I’ve had my main checking account at BOA for the longest time (about 10 years) and can’t say I’m really disappointed. I just keep enough liquidity for one month of expenses and keep the rest in Ally savings or Marcus savings, but I’ve overall had excellent service. Hell, for work I find myself having to do instant wire transfers (not ACH) quite frequently and BOA even waived the fee for those, after I asked. Another time they helped me dig through a digital scan of a check I cashed through them 8 years prior, because I needed to see what was written in the reason. Without even mentioning the platinum privileges which keep on giving. It’s safe to say I never paid them a single dime for the checking account.
We have had our main checking account there for 5+ years. We have paid two outbound wire fees, but no other fees of any kind. ATM fees from other banks are refunded, with no limits. Cardless ATMs. Branches all over the place.

The Preferred phone bankers are knowledgeable and empowered, and I can generally reach someone instantly... which overwhelms most other checking account benefits here or anywhere else. One banker called me back 15 minutes after we had spoken because he thought of something I hadn't asked.

I would be interested in hearing from those who think Bank of America's checking accounts are worthless what checking features they have that make their own accounts "not worthless."

We don't keep much fluff in checking to make an interest-bearing checking account worth opening elsewhere.

On the other hand, Bank of America savings accounts...? Now THOSE are worthless.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by AlphaLess » Sat Dec 29, 2018 6:05 pm

Trism wrote:
Mon Dec 10, 2018 7:11 pm
Balances in Merrill Lynch accounts qualify toward relationship status. No one with a brain keeps liquid savings at Bank of America.
What about the $1.5- $2Trillion in deposit assets that BofA has?
"You can get more with a kind word and a gun than with just a kind word." George Washington

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Trism » Sat Dec 29, 2018 6:08 pm

AlphaLess wrote:
Sat Dec 29, 2018 6:05 pm
Trism wrote:
Mon Dec 10, 2018 7:11 pm
Balances in Merrill Lynch accounts qualify toward relationship status. No one with a brain keeps liquid savings at Bank of America.
What about the $1.5- $2Trillion in deposit assets that BofA has?
I didn't say they don't have deposits.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by JStephens » Sat Dec 29, 2018 6:33 pm

theplayer11 wrote:
Wed Dec 19, 2018 2:09 pm
where are people with Merrill parking their short term money? I'm finding it hard to find their money market options
You can buy CDs under the fixed income screener. You can only view them when the market is open.

arf30
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by arf30 » Sat Dec 29, 2018 10:44 pm

The main limitations of BofA checking, even with Platinum rewards, is lack of international ATM refunds, foreign transaction fees on ATM, and outgoing ACH and wire fees. Seems a bit stingy - Chase and Wells waive those fees at similar asset levels. Maybe it's changed since I last looked into it.

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b0B
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by b0B » Sat Dec 29, 2018 11:40 pm

The biggest problems with BoA are, no secure messaging, no chat, and no direct auto-pay for credit cards (instead of auto-pay they have a clumsy ebill/billpay setup, actually at least two disconnected such setups).

Trism
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Trism » Sun Dec 30, 2018 6:38 am

arf30 wrote:
Sat Dec 29, 2018 10:44 pm
The main limitations of BofA checking, even with Platinum rewards, is lack of international ATM refunds, foreign transaction fees on ATM, and outgoing ACH and wire fees. Seems a bit stingy - Chase and Wells waive those fees at similar asset levels. Maybe it's changed since I last looked into it.
We leave the country 1-2 times per year and almost always have what little currency we need for non-credit card spending when we leave the US.

USAA ATM card is our primary backup for cash (1% fee on the amount withdrawn, no ATM fees, ATM rebates). 2016+2017+2018 international ATM fees paid by our household: $0. Probably in the $8 range for 2015. I'm fine with this infrequent workaround and paltry expense.

I'm okay (contrast with thrilled) with the two outgoing wire fees we've paid to close real estate deals since we became customers.

Also, side note: BoA PR customers now get preferred currency exchange rates and free shipping for foreign currency orders made online.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Trism » Sun Dec 30, 2018 6:49 am

b0B wrote:
Sat Dec 29, 2018 11:40 pm
The biggest problems with BoA are, no secure messaging, no chat, and no direct auto-pay for credit cards (instead of auto-pay they have a clumsy ebill/billpay setup, actually at least two disconnected such setups).
I pay all of our cards manually every month, regardless of issuer. I like the control, plus I have to look at all of the transactions anyway.

Takes 20 extra seconds to make a payment (payment process is the same as transferring money from one bank account to another).

Chat would be nice, but in reality I have to contact them maybe once or twice a year. They used to have chat. I wonder what happened.

MisterBill
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Sun Dec 30, 2018 8:56 pm

b0B wrote:
Sat Dec 29, 2018 11:40 pm
The biggest problems with BoA are, no secure messaging, no chat, and no direct auto-pay for credit cards (instead of auto-pay they have a clumsy ebill/billpay setup, actually at least two disconnected such setups).
The autopay thing is a little clumsy but it works fine once set up.

They actually have secure messaging via Facebook -- https://apps.facebook.com/bac-apps . I've never tried it so I do not know how it works.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Sun Dec 30, 2018 8:58 pm

Trism wrote:
Sun Dec 30, 2018 6:49 am
Takes 20 extra seconds to make a payment (payment process is the same as transferring money from one bank account to another).
Unless you forget to do it in which case it's very expensive. I'm happy to have them do it automatically.

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b0B
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by b0B » Sun Dec 30, 2018 10:46 pm

MisterBill wrote:
Sun Dec 30, 2018 8:56 pm
b0B wrote:
Sat Dec 29, 2018 11:40 pm
The biggest problems with BoA are, no secure messaging, no chat, and no direct auto-pay for credit cards (instead of auto-pay they have a clumsy ebill/billpay setup, actually at least two disconnected such setups).
The autopay thing is a little clumsy but it works fine once set up.

They actually have secure messaging via Facebook -- https://apps.facebook.com/bac-apps . I've never tried it so I do not know how it works.
BoA doesn't literally have direct auto-pay for credit cards. It is a cobbled together combination of ebill and billpay. It is very different from what all other major credit card issuers do.

I don't use Facebook or apps. Lack of secure messaging and chat makes BoA very difficult to deal with.

It's a crummy bank. But, like with other banks/brokerages, I'll take the bonuses and cashback.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Earl Lemongrab » Mon Dec 31, 2018 12:44 pm

The lack of auto-pay doesn't bother me, because I never use that for credit cards. I set up the alerts, then when I get the one for payment due I log in. At that time, I review the statement charges and the recent ones, then make a payment. I should have seen all of the charges from alerts, but in case I wasn't paying sufficient attention this is another check for suspicious charges.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Trism » Mon Dec 31, 2018 6:07 pm

MisterBill wrote:
Sun Dec 30, 2018 8:58 pm
Trism wrote:
Sun Dec 30, 2018 6:49 am
Takes 20 extra seconds to make a payment (payment process is the same as transferring money from one bank account to another).
Unless you forget to do it in which case it's very expensive. I'm happy to have them do it automatically.
I forget to do a lot of things, but paying a credit card bill isn't one of them. :)

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Earl Lemongrab
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Earl Lemongrab » Mon Dec 31, 2018 6:20 pm

Trism wrote:
Mon Dec 31, 2018 6:07 pm
MisterBill wrote:
Sun Dec 30, 2018 8:58 pm
Trism wrote:
Sun Dec 30, 2018 6:49 am
Takes 20 extra seconds to make a payment (payment process is the same as transferring money from one bank account to another).
Unless you forget to do it in which case it's very expensive. I'm happy to have them do it automatically.
I forget to do a lot of things, but paying a credit card bill isn't one of them. :)
Yeah, I just deal with the alert when it comes in. And even if you do forget once, just call. They'll take off the late fee/interest charges. Once.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by xerxes101 » Mon Dec 31, 2018 6:46 pm

arf30 wrote:
Sat Dec 29, 2018 10:44 pm
The main limitations of BofA checking, even with Platinum rewards, is lack of international ATM refunds, foreign transaction fees on ATM, and outgoing ACH and wire fees. Seems a bit stingy - Chase and Wells waive those fees at similar asset levels. Maybe it's changed since I last looked into it.
When I traveled internationally I noticed B of A did not refund the ATM fees (using the B of A ATM card tied to the checking with preferred honors). I called them and they immediately refunded the ATM fees. They did not refund the transaction fees however, which is a separate fee, and I don't think any of the banks refund those fees. When I asked then why they did not refund the ATM fees automatically, he said that he thought it was because they were international and they did it automatically for domestic ATMs.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Mon Dec 31, 2018 7:01 pm

Earl Lemongrab wrote:
Mon Dec 31, 2018 6:20 pm
Yeah, I just deal with the alert when it comes in. And even if you do forget once, just call. They'll take off the late fee/interest charges. Once.
I had that happen at BofA shortly after I qualified for Preferred Rewards and started using my Cash Rewards card again after a couple of years of not using it. I had apparently not set up payments after changing my checking account and got charged a late fee and interest. I called customer service and got a PR rewards person. I didn't even have to ask to have the fees waived -- the person was already doing it when I asked.

In any event, I didn't find setting up the autopay feature (or bastardized feature, if you prefer) all that difficult. My biggest problem with it was that I got charged interest a couple of times when it was being paid on the due date. They automatically reversed it both times but I decided to pay them a day early to avoid that in the future. So yeah, their incompetence got me to give up a day of float.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Tue Jan 01, 2019 12:59 pm

arf30 wrote:
Sat Dec 29, 2018 10:44 pm
The main limitations of BofA checking, even with Platinum rewards, is lack of international ATM refunds, foreign transaction fees on ATM, and outgoing ACH and wire fees. Seems a bit stingy - Chase and Wells waive those fees at similar asset levels. Maybe it's changed since I last looked into it.
I'd forgotten about the outgoing ACH fees ($3 for standard) and just ran into it, so it's still an issue. That's really stupid (and as you say, stingy) of them.

Instead, I just submitted an incoming request on the Fidelity site, where it's free (of course), as are outgoing ACH and even domestic wire transfers.

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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Trism » Tue Jan 01, 2019 2:33 pm

MisterBill wrote:
Tue Jan 01, 2019 12:59 pm
arf30 wrote:
Sat Dec 29, 2018 10:44 pm
The main limitations of BofA checking, even with Platinum rewards, is lack of international ATM refunds, foreign transaction fees on ATM, and outgoing ACH and wire fees. Seems a bit stingy - Chase and Wells waive those fees at similar asset levels. Maybe it's changed since I last looked into it.
I'd forgotten about the outgoing ACH fees ($3 for standard) and just ran into it, so it's still an issue. That's really stupid (and as you say, stingy) of them.

Instead, I just submitted an incoming request on the Fidelity site, where it's free (of course), as are outgoing ACH and even domestic wire transfers.
I forgot about the ACH fees. Definitely low rent. I just pull from the other account.

Or use Zelle for free instant transfers of nominal amounts (I believe the max is $2,500).

MisterBill
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Tue Jan 01, 2019 4:26 pm

Trism wrote:
Tue Jan 01, 2019 2:33 pm
I forgot about the ACH fees. Definitely low rent. I just pull from the other account.

Or use Zelle for free instant transfers of nominal amounts (I believe the max is $2,500).
I was doing more than that. I'm embarrassed to admit I had a bunch of cash in my Merrill Edge account that I hadn't done anything with. Also, I don't have FIdelity set up as an incoming source for Zelle. But I did have the BofA checking account set up at Fidelity, so I just did a pull from there.

drk
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Location: Seattle

Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by drk » Tue Jan 01, 2019 5:08 pm

MisterBill wrote:
Tue Jan 01, 2019 4:26 pm
I was doing more than that. I'm embarrassed to admit I had a bunch of cash in my Merrill Edge account that I hadn't done anything with. Also, I don't have FIdelity set up as an incoming source for Zelle. But I did have the BofA checking account set up at Fidelity, so I just did a pull from there.
For what it's worth, outgoing ACH is free in Merrill Edge even though the BofA side charges a fee. The whole thing sours me on BofA, though.

MisterBill
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Tue Jan 01, 2019 5:18 pm

drk wrote:
Tue Jan 01, 2019 5:08 pm
For what it's worth, outgoing ACH is free in Merrill Edge even though the BofA side charges a fee. The whole thing sours me on BofA, though.
Yeah, I realized I should have done that but I had already moved the money to BofA thinking I could transfer it from there and didn't want to move it back. I should add Fidelity account info to the ME account.

Actually, now I remember. I tried to add it and got "We’re sorry, but we cannot complete your request at this time. Please try again later."

Of course, I could have just written a check (from either BofA or Merrill) and done mobile deposit from the Fidelity app.

shipwreck
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by shipwreck » Wed Jan 02, 2019 7:05 am

Trism wrote:
Sat Dec 15, 2018 11:22 am
MisterBill wrote:
Fri Dec 14, 2018 4:43 pm
What has people's experiences been getting additional cards approved at BofA? I already have a regular Cash Rewards card and an MLB card but would like to get another so I can have a third 5.25% category. Also have the Travel Reward and Premium Rewards card. Last time I got a new card they took some of the credit line from another card, and have had to move CL around. In fact, at the moment I have only a $200 CL on the MLB card and will have to fix that before I start using it for the new 5.25% category.

I assume it would be best if I got a different card like the Susan G Komen rather than another of the regular CR cards.
Bank of America is now doing credit limit increases with no hard credit inquiry. This is a recent change (the language on the request page still reflects their old policy). If you want more credit, just ask for it.

I just added almost $35,000 in limits to our three cards (limits now total $133,500). You can specify how much additional credit you want, and they'll counter with the max they'll approve if you choose a number that's too high. Results were instant.

There is a long thread on CreditBoards about this. I haven't been on BH long enough to know if it's okay to post a link to a thread on another forum.

I'm planning on picking up a Premier Rewards Visa in the very near future, and if my memory works I'll come back and update this thread with my experience. My spouse got the same card earlier this year (it's one of the three I mentioned above) and it was an easy/automatic approval.
Thanks for the info. I tried to increase the limit on 2 of my cards. No counter on both requests. I am sure the 5 to 7 days letter will be a rejection letter. I still don't know why I keep these cards.

Trism
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Trism » Wed Jan 02, 2019 7:16 am

shipwreck wrote:
Wed Jan 02, 2019 7:05 am
Trism wrote:
Sat Dec 15, 2018 11:22 am
MisterBill wrote:
Fri Dec 14, 2018 4:43 pm
What has people's experiences been getting additional cards approved at BofA? I already have a regular Cash Rewards card and an MLB card but would like to get another so I can have a third 5.25% category. Also have the Travel Reward and Premium Rewards card. Last time I got a new card they took some of the credit line from another card, and have had to move CL around. In fact, at the moment I have only a $200 CL on the MLB card and will have to fix that before I start using it for the new 5.25% category.

I assume it would be best if I got a different card like the Susan G Komen rather than another of the regular CR cards.
Bank of America is now doing credit limit increases with no hard credit inquiry. This is a recent change (the language on the request page still reflects their old policy). If you want more credit, just ask for it.

I just added almost $35,000 in limits to our three cards (limits now total $133,500). You can specify how much additional credit you want, and they'll counter with the max they'll approve if you choose a number that's too high. Results were instant.

There is a long thread on CreditBoards about this. I haven't been on BH long enough to know if it's okay to post a link to a thread on another forum.

I'm planning on picking up a Premier Rewards Visa in the very near future, and if my memory works I'll come back and update this thread with my experience. My spouse got the same card earlier this year (it's one of the three I mentioned above) and it was an easy/automatic approval.
Thanks for the info. I tried to increase the limit on 2 of my cards. No counter on both requests. I am sure the 5 to 7 days letter will be a rejection letter. I still don't know why I keep these cards.
Call and talk to a credit analyst, and see if they'll reconsider. Often a human's interpretation of your qualifications will be different from an automated one.

Good luck.

BofA: 800-881-4730, 866-226-8225, 800-247-7975 (Credit Analyst, existing accounts only)
BofA: 866-618-4585 (Sr Credit Analyst)

MisterBill
Posts: 410
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Wed Jan 02, 2019 3:39 pm

Trism wrote:
Wed Jan 02, 2019 7:16 am
Call and talk to a credit analyst, and see if they'll reconsider. Often a human's interpretation of your qualifications will be different from an automated one.

Good luck.

BofA: 800-881-4730, 866-226-8225, 800-247-7975 (Credit Analyst, existing accounts only)
BofA: 866-618-4585 (Sr Credit Analyst)
So I have been going through the process of opening a new CR card and trying to increase and rearrange my credit lines on my existing cards. I was able to get a $5000 increase on one CR card. I went to a branch today to open a new card and my application did not immediately get approved, and after applying I realized that there was no $200 bonus for applying (or at least nothing was told to me and nothing in the branch advertised this). So I called BofA and had to speak to a senior analyst since I am a Platinum Honors tier customer. I cancelled the application and told her that I would reapply online, where the $200 bonus still shows up.

While on the phone with this person, I also needed to fix the CR card that I had reduced to a $200 CL. She tried to get an increase to $5000 but the system would only give me a $700 increase. So she had to move some of the other card's CL to this one, which was fine since I didn't need $7500 on that one.

Then I applied for the card online and did not get an immediate approval, as expected. I called and they could not move CL because it turns out that all of my other cards were joint and there is no way to apply jointly online (nor is there a way to change it once submitted). Confused yet? So she transferred me to someone who could take a new application over the phone. Before doing so she checked my application status and said that it was approved! Apparently between the time that I got off the phone with the credit analyst and this person looking it up, I got approved for the new card with a $2500 CL. Nothing was taken from my other cards. I am confused, but happy. So now I have 3 Cash Rewards cards to use.

Anyway, here are the numbers I was given:

Regular: 866-865-7842
Senior (for Preferred Rewards customers): 800-667-1867

atdharris
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by atdharris » Wed Jan 02, 2019 4:31 pm

This card pairs really well with the Premium Rewards if you qualify for Platinum Honors. Even without using the cards for dining last year (that goes on my Amex Gold), I was able to redeem over $1400 from the Premium card and $600 from the Cash Rewards, which I use for gas, groceries and Costco. Once I'm able to use the cash rewards card for dining and get 5.5% back, that'll give me even more rewards.

Trism
Posts: 579
Joined: Mon Jul 18, 2016 6:34 pm

Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Trism » Wed Jan 02, 2019 4:36 pm

MisterBill wrote:
Wed Jan 02, 2019 3:39 pm
Trism wrote:
Wed Jan 02, 2019 7:16 am
Call and talk to a credit analyst, and see if they'll reconsider. Often a human's interpretation of your qualifications will be different from an automated one.

Good luck.

BofA: 800-881-4730, 866-226-8225, 800-247-7975 (Credit Analyst, existing accounts only)
BofA: 866-618-4585 (Sr Credit Analyst)
So I have been going through the process of opening a new CR card and trying to increase and rearrange my credit lines on my existing cards. I was able to get a $5000 increase on one CR card. I went to a branch today to open a new card and my application did not immediately get approved, and after applying I realized that there was no $200 bonus for applying (or at least nothing was told to me and nothing in the branch advertised this). So I called BofA and had to speak to a senior analyst since I am a Platinum Honors tier customer. I cancelled the application and told her that I would reapply online, where the $200 bonus still shows up.

While on the phone with this person, I also needed to fix the CR card that I had reduced to a $200 CL. She tried to get an increase to $5000 but the system would only give me a $700 increase. So she had to move some of the other card's CL to this one, which was fine since I didn't need $7500 on that one.

Then I applied for the card online and did not get an immediate approval, as expected. I called and they could not move CL because it turns out that all of my other cards were joint and there is no way to apply jointly online (nor is there a way to change it once submitted). Confused yet? So she transferred me to someone who could take a new application over the phone. Before doing so she checked my application status and said that it was approved! Apparently between the time that I got off the phone with the credit analyst and this person looking it up, I got approved for the new card with a $2500 CL. Nothing was taken from my other cards. I am confused, but happy. So now I have 3 Cash Rewards cards to use.

Anyway, here are the numbers I was given:

Regular: 866-865-7842
Senior (for Preferred Rewards customers): 800-667-1867
Sounds like you made some progress, after spinning in circles a couple of times. Thanks for the updated numbers; I haven't called in some time, but I will note those in case I need them in the future.

We have one joint BoA card, which I regret opening that way (can't move the limits from a joint to an individual card or vice versa due to the differences in account ownership). There is a way to convert joint cards to individual, but it was too much of a hassle compared to the benefit so I never followed through.

In our newlywed naivete that first joint card seemed so - perfect - but it didn't solve any problems we actually had. :) Not doing that again.

MisterBill
Posts: 410
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Wed Jan 02, 2019 4:54 pm

Trism wrote:
Wed Jan 02, 2019 4:36 pm
Sounds like you made some progress, after spinning in circles a couple of times. Thanks for the updated numbers; I haven't called in some time, but I will note those in case I need them in the future.

We have one joint BoA card, which I regret opening that way (can't move the limits from a joint to an individual card or vice versa due to the differences in account ownership). There is a way to convert joint cards to individual, but it was too much of a hassle compared to the benefit so I never followed through.

In our newlywed naivete that first joint card seemed so - perfect - but it didn't solve any problems we actually had. :) Not doing that again.
The problem with joint accounts is that the procedure to undo it is apparently much more difficult than doing it in the first place (as in I think they need to mail you something). I originally had one card that was joint, I think it was probably a former MBNA card. Needed to move some CL from there so we've gradually been making the others ones joint. But then they don't let you apply that way for new cars on the website. It's a very broken system. I will probably just stay with $2500 on this new card rather than making it joint to get some of the CL from my Premium Rewards card.

Maybe now that I have everything set up and having usable CL on all cards I actually should start the process of switching back to authorized users, since there is no time constraint.

Housedoc
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Location: Alabama

Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by Housedoc » Wed Jan 02, 2019 5:30 pm

I had a chat session going for a bit today with no issues. I inquired about the new 3% cash rewards for my son. He needs a Visa to use at Costco. I was told he could apply under MasterCard than request a switch to a Visa. Same rewards. I have had a CC with them for years and have no issues. I pay my balance off via Android App.

boogiehead
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Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by boogiehead » Wed Jan 02, 2019 6:27 pm

Does someone know if the MLB version of the cash reward card will be eligible for the 5.25% cash back as well with plat honors..... To me the BOA cash reward card looks hideous :P

MisterBill
Posts: 410
Joined: Thu Dec 24, 2015 3:21 pm

Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Wed Jan 02, 2019 9:39 pm

Housedoc wrote:
Wed Jan 02, 2019 5:30 pm
I had a chat session going for a bit today with no issues. I inquired about the new 3% cash rewards for my son. He needs a Visa to use at Costco. I was told he could apply under MasterCard than request a switch to a Visa. Same rewards. I have had a CC with them for years and have no issues. I pay my balance off via Android App.
The Susan G Komen and World Wildlife Fund versions are both Visa cards and have the same signup bonus and reward structure. Plus they make a donation when you get and use the card. In fact, they should really be the preferred cards to apply for. There's also a U.S. Pride card with an eagle on it if you're into that sort of thing.

I personally don't mind the red card. It's nicer looking than the grey Premium Rewards card.
Last edited by MisterBill on Wed Jan 02, 2019 10:35 pm, edited 5 times in total.

MisterBill
Posts: 410
Joined: Thu Dec 24, 2015 3:21 pm

Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

Post by MisterBill » Wed Jan 02, 2019 9:40 pm

boogiehead wrote:
Wed Jan 02, 2019 6:27 pm
Does someone know if the MLB version of the cash reward card will be eligible for the 5.25% cash back as well with plat honors..... To me the BOA cash reward card looks hideous :P
All of the Cash Rewards cards work the same way with the Preferred Rewards bonus. From the BofA site for the MLB card: If you're a Bank of America Preferred Rewards client, you could increase that bonus to 25% - 75%.

Also, I had not realized it, but they also come with 0% interest for one year on both purchases and cash advances. Sadly the 3% fee still applies to cash advances, so not worth using.
Last edited by MisterBill on Tue Jan 08, 2019 12:39 am, edited 2 times in total.

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