The Final, Definitive Thread on Brokerage Transfer Bonuses

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Katietsu
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Katietsu » Mon Sep 09, 2019 10:51 am

Eno Deb wrote:
Sat Sep 07, 2019 1:04 pm
The preferred deposit option unfortunately requires a phone call every time you want to make a transfer in or out.
You can now do this online. You must use a computer and not a mobile device. It is accessed through a drop down on the holdings page.

frcabot
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by frcabot » Mon Sep 09, 2019 4:06 pm

Katietsu wrote:
Mon Sep 09, 2019 10:51 am
Eno Deb wrote:
Sat Sep 07, 2019 1:04 pm
The preferred deposit option unfortunately requires a phone call every time you want to make a transfer in or out.
You can now do this online. You must use a computer and not a mobile device. It is accessed through a drop down on the holdings page.
Does this include “opening” the preferred deposit or just moving funds in and out? Any benefit to preferred deposit over, say, a purchased money market or ultra short etf like ICSH? APY on Preferred Deposit I think right now is 1.82%, which isn’t particularly competitive.
Last edited by frcabot on Mon Sep 09, 2019 7:11 pm, edited 1 time in total.

Katietsu
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Katietsu » Mon Sep 09, 2019 5:14 pm

frcabot wrote:
Mon Sep 09, 2019 4:06 pm
Katietsu wrote:
Mon Sep 09, 2019 10:51 am
Eno Deb wrote:
Sat Sep 07, 2019 1:04 pm
The preferred deposit option unfortunately requires a phone call every time you want to make a transfer in or out.
You can now do this online. You must use a computer and not a mobile device. It is accessed through a drop down on the holdings page.
Does this include “opening” the preferred deposit or just moving funds in and out? Any benefit to preferred deposit over, say, a purchased money market or ultra short etf like ICSH? APY or Preferred Deposit I think right now is 1.82%, which isn’t particularly competitive.
Opening still must be done by phone as far as I know. The way I understand it, one advantage of the preferred deposit is that it is available immediately. Whereas the others take a day to settle. I know that this does not make a difference most of the time for most people.

Otherwise, I agree that the interest rate seems to lag other options.

sco
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sco » Mon Sep 09, 2019 9:24 pm

It doesn't look like anyone that offers a Solo 401k offers bonuses that cover them,

Etrade = non-retirement accounts only
Fidelity = Free trades
Vanguard = zero


Obviously the solution is to just put it in one of the IRA options, but that screws up a backdoor Roth with 1 year wait periods.

Eno Deb
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Eno Deb » Tue Sep 10, 2019 10:57 am

Katietsu wrote:
Mon Sep 09, 2019 10:51 am
Eno Deb wrote:
Sat Sep 07, 2019 1:04 pm
The preferred deposit option unfortunately requires a phone call every time you want to make a transfer in or out.
You can now do this online. You must use a computer and not a mobile device. It is accessed through a drop down on the holdings page.
Thanks, this is good to know. I may open an account next time I have $100k liquidity available. Hopefully they'll at some point allow using this as a cash sweep option for the brokerage account ...

Direwolf14
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Direwolf14 » Sat Sep 14, 2019 8:02 am

indexfundfan wrote:
Fri Sep 06, 2019 10:10 am
It seems like Fidelity's cash bonuses have all dried up, except for a $3000 bonus for a $5m transfer.

I spoke to a rep and he said Fidelity is taking a hard stand on this -- only free trades, no bonuses and no matching competitors' offers.

Anyone managed to snag a cash bonus recently form Fidelity?
Spoke with Fidelity yesterday and got the same story... Only free trades or the $3k bonus for $5m transfer. No matching competitors' offers, but will reimburse transfer fees up to $100 per account if the account balance is over $25k.

The rep I spoke with strongly believed that Fidelity would never offer transfer bonuses again. His rationale was that Fidelity has transitioned to a low-cost platform and the margins are tighter. Also, he felt there were too many incidents of bonus chasing in the past.

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indexfundfan
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Sat Sep 14, 2019 8:08 am

Direwolf14 wrote:
Sat Sep 14, 2019 8:02 am
indexfundfan wrote:
Fri Sep 06, 2019 10:10 am
It seems like Fidelity's cash bonuses have all dried up, except for a $3000 bonus for a $5m transfer.

I spoke to a rep and he said Fidelity is taking a hard stand on this -- only free trades, no bonuses and no matching competitors' offers.

Anyone managed to snag a cash bonus recently form Fidelity?
Spoke with Fidelity yesterday and got the same story... Only free trades or the $3k bonus for $5m transfer. No matching competitors' offers, but will reimburse transfer fees up to $100 per account if the account balance is over $25k.

The rep I spoke with strongly believed that Fidelity would never offer transfer bonuses again. His rationale was that Fidelity has transitioned to a low-cost platform and the margins are tighter. Also, he felt there were too many incidents of bonus chasing in the past.
I believe seeing Fidelity transfer bonuses as recently as March this year. So this new policy is around for only a short time. If Fidelity finds that it is not attracting / retaining assets, it might have to reverse this policy.

I was in contact with a Fidelity rep concerning a possible transfer. When he calls me for a followup, I am going to tell him I have decided to transfer to Etrade (or TDA) instead. He can feedback to his management about assets not going their way.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MathIsMyWayr » Sat Sep 14, 2019 8:14 am

Direwolf14 wrote:
Sat Sep 14, 2019 8:02 am
indexfundfan wrote:
Fri Sep 06, 2019 10:10 am
It seems like Fidelity's cash bonuses have all dried up, except for a $3000 bonus for a $5m transfer.

I spoke to a rep and he said Fidelity is taking a hard stand on this -- only free trades, no bonuses and no matching competitors' offers.

Anyone managed to snag a cash bonus recently form Fidelity?
Spoke with Fidelity yesterday and got the same story... Only free trades or the $3k bonus for $5m transfer. No matching competitors' offers, but will reimburse transfer fees up to $100 per account if the account balance is over $25k.

The rep I spoke with strongly believed that Fidelity would never offer transfer bonuses again. His rationale was that Fidelity has transitioned to a low-cost platform and the margins are tighter. Also, he felt there were too many incidents of bonus chasing in the past.
The brokerage transfer bonus program is self-defeating. Brokerage houses have to find money to pay out a few who chase after bonuses. Where is the money from? Simple, average investors. Bonus programs increase brokerage business expense which has to be spread out as ER. Investing has to be simple and boring. Transfer bonus programs do not sit well with this basic principle. I am glad Vanguard and Fidelity do not play the gimmick.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott » Sat Sep 14, 2019 8:25 am

Direwolf14 wrote:
Sat Sep 14, 2019 8:02 am
Also, he felt there were too many incidents of bonus chasing in the past.
This certainly makes sense, but I don't know why they would not just deal with it by not allowing repeats. Seems like brokerages could just not allow a bonus when someone moves money out and then wants to come back and get another bonus.

Amex did it with their credit cards, changed their standard policy to one bonus per lifetime on a given card. I really don't understand why other credit card companies have not followed Amex on this. While the others have also gotten somewhat more restrictive on bonuses, they do still allow repeats after something like just 2 years. While I am not an extreme card churner, it still makes no sense that they continue to reward me for getting "new" cards that are the same as what I canceled a few years ago.
Time is your friend; impulse is your enemy. - John C. Bogle

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 » Sat Sep 14, 2019 8:42 am

jeffyscott wrote:
Sat Sep 14, 2019 8:25 am
Direwolf14 wrote:
Sat Sep 14, 2019 8:02 am
Also, he felt there were too many incidents of bonus chasing in the past.
This certainly makes sense, but I don't know why they would not just deal with it by not allowing repeats. Seems like brokerages could just not allow a bonus when someone moves money out and then wants to come back and get another bonus.

Amex did it with their credit cards, changed their standard policy to one bonus per lifetime on a given card. I really don't understand why other credit card companies have not followed Amex on this. While the others have also gotten somewhat more restrictive on bonuses, they do still allow repeats after something like just 2 years. While I am not an extreme card churner, it still makes no sense that they continue to reward me for getting "new" cards that are the same as what I canceled a few years ago.
I would guess that the banks who continue to allow multiple bonuses over and over have found that enough fall into their trap. End up generating enough bank revenue, as a group, to offset those who churn bonuses and dump without paying their way.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Direwolf14 » Sat Sep 14, 2019 11:33 am

indexfundfan wrote:
Sat Sep 14, 2019 8:08 am
I believe seeing Fidelity transfer bonuses as recently as March this year. So this new policy is around for only a short time. If Fidelity finds that it is not attracting / retaining assets, it might have to reverse this policy.

I was in contact with a Fidelity rep concerning a possible transfer. When he calls me for a followup, I am going to tell him I have decided to transfer to Etrade (or TDA) instead. He can feedback to his management about assets not going their way.
I will do the same when Fidelity calls me back. ME offered $3500 for $2m without me even asking them to match Ally Invest. And this is after they already paid out $900 for $200k earlier this year on the 50% more preferred rewards offer.

marcopolo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by marcopolo » Sat Sep 14, 2019 1:50 pm

MathIsMyWayr wrote:
Sat Sep 14, 2019 8:14 am
Direwolf14 wrote:
Sat Sep 14, 2019 8:02 am
indexfundfan wrote:
Fri Sep 06, 2019 10:10 am
It seems like Fidelity's cash bonuses have all dried up, except for a $3000 bonus for a $5m transfer.

I spoke to a rep and he said Fidelity is taking a hard stand on this -- only free trades, no bonuses and no matching competitors' offers.

Anyone managed to snag a cash bonus recently form Fidelity?
Spoke with Fidelity yesterday and got the same story... Only free trades or the $3k bonus for $5m transfer. No matching competitors' offers, but will reimburse transfer fees up to $100 per account if the account balance is over $25k.

The rep I spoke with strongly believed that Fidelity would never offer transfer bonuses again. His rationale was that Fidelity has transitioned to a low-cost platform and the margins are tighter. Also, he felt there were too many incidents of bonus chasing in the past.
The brokerage transfer bonus program is self-defeating. Brokerage houses have to find money to pay out a few who chase after bonuses. Where is the money from? Simple, average investors. Bonus programs increase brokerage business expense which has to be spread out as ER. Investing has to be simple and boring. Transfer bonus programs do not sit well with this basic principle. I am glad Vanguard and Fidelity do not play the gimmick.
Fidelity certainly does "play the gimmick".

They also have high expense funds and services. I am happy to have those customers subsidize my bonus and lower expense funds/etfs, as well as pay for the excellent customer service.
Once in a while you get shown the light, in the strangest of places if you look at it right.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Sat Sep 14, 2019 4:40 pm

Bonus programs increase brokerage business expense which has to be spread out as ER.
This doesn't apply as most of the ones with bonuses like Edge Etrade and TDA have no funds to increase the ERs on.

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SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Sat Sep 14, 2019 4:47 pm

Also, remember that Fidelity is a private company (although it does release results). It may not feel the compulsion to raise assets under management that public companies do.

Fidelity has been having record years too. So whatever they're doing is working …

newenglandpat
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by newenglandpat » Sat Sep 14, 2019 5:22 pm

frcabot wrote:
Fri Sep 06, 2019 4:08 pm
Got $900 from Merrill Edge for $250K (current bonus is $1000 for $200K) and then I offered to move over $2MM more and got another $3500 (matched with Ally, basically), for a total of $4400. They also reimbursed some (but not all) transfer fees (I think they reimbursed a total of $300 in transfer fees since I had money spread over a bunch of different brokerage accounts). Nice thing about ME is I get 100 free trades per month (which is a lot more than what I need) but I was able to unwind a bunch of positions for free after transfer, which I had been wanting to do. Also, preferred rewards platinum honors with BOA which makes their premium rewards CC a great deal (I think something like 2.62% cash back on all purchases and 3.5% on dining and travel, something like that), also a free security deposit box and various other gimmicks. Need to keep in account for 12 months. Merrill Edge's platform is pretty subpar compared to TD Ameritrade and Fidelity, but for basic ETF/stock trades it doesn't really make that much of a difference, and I didn't get free trades with TD or Fidelity. Besides, I still keep a TD Ameritrade with a nominal amount so I can still use their online platform for research, if desired. Important to note that the $3500 for $2MM is NOT on the website, so you'd have to call in and speak to someone to get this bonus.

ME pays a pittance on cash sweep so the important thing is not to keep a cash balance -- either keep positions in stocks / money markets / bonds or ME has I think a preferred deposit option on $100K with ~1.8%, not the best but not the worst for an insured deposit option. Better bet would be a purchased money market fund or ultra-short ETF like ICSH if you want “cash.”

Also ME tiered me in "Premium Elite" category, I actually don't think this means much if anything (can't find anything about it online) but supposedly I have a dedicated relationship manager I've never heard from. Pretty useless as I do all of my trading online but for those who seek big e-peens, I guess this could matter?
how do you get to 2.62% back with BOA cash rewards card? I see (below) 1% unlimited, 3% (up to $2500/qtr) for online making preferred rewards = 1.75% everything and 5.25% for online

Cash Rewards
$200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening
3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores or home improvement/furnishings
2% cash back at grocery stores and wholesale clubs
1% cash back on all other purchases
Earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%
No expiration on rewards
Go to the Mobile Banking app or to Online Banking to change choice category for future purchases once each calendar month, or make no changes and it stays the same

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 808 » Sat Sep 14, 2019 5:28 pm

newenglandpat wrote:
Sat Sep 14, 2019 5:22 pm
how do you get to 2.62% back with BOA cash rewards card? I see (below) 1% unlimited, 3% (up to $2500/qtr) for online making preferred rewards = 1.75% everything and 5.25% for online
Premium Rewards credit card
2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.

2.0 * 1.75 = 3.5%
1.5 * 1.75 = 2.62%

Combine this card with the Cash Rewards for 5.25% in one category (per card, you can have more than one).

newenglandpat
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by newenglandpat » Sat Sep 14, 2019 5:46 pm

808 wrote:
Sat Sep 14, 2019 5:28 pm
newenglandpat wrote:
Sat Sep 14, 2019 5:22 pm
how do you get to 2.62% back with BOA cash rewards card? I see (below) 1% unlimited, 3% (up to $2500/qtr) for online making preferred rewards = 1.75% everything and 5.25% for online
Premium Rewards credit card
2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.

2.0 * 1.75 = 3.5%
1.5 * 1.75 = 2.62%

Combine this card with the Cash Rewards for 5.25% in one category (per card, you can have more than one).
true, but is the $95/year fee worth it?? I've never paid a penny for credit card fees...EVER!!

808
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 808 » Sat Sep 14, 2019 5:58 pm

newenglandpat wrote:
Sat Sep 14, 2019 5:46 pm
808 wrote:
Sat Sep 14, 2019 5:28 pm
newenglandpat wrote:
Sat Sep 14, 2019 5:22 pm
how do you get to 2.62% back with BOA cash rewards card? I see (below) 1% unlimited, 3% (up to $2500/qtr) for online making preferred rewards = 1.75% everything and 5.25% for online
Premium Rewards credit card
2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.

2.0 * 1.75 = 3.5%
1.5 * 1.75 = 2.62%

Combine this card with the Cash Rewards for 5.25% in one category (per card, you can have more than one).
true, but is the $95/year fee worth it?? I've never paid a penny for credit card fees...EVER!!
You are eligible for a statement credit of up to $100 each calendar year if you make qualifying airline incidental fee transactions. To qualify, you must use your Premium Rewards® credit card to pay all airline incidental fee transactions.
If you travel and typically have incidental charges, then it's a slight gain; pay $95 for $100 in credits per year. You have to decide if it's worth it. There is also reimbursement of TSA Pre or Global Entry once every 4 years.

newenglandpat
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by newenglandpat » Sat Sep 14, 2019 6:09 pm

Yeah, I have to think about this. I'm the guy who flies Spirit, Frontier or United basic(yikes-they are the absolute worst!), bring my own food, (been stopped by TSA cause the screener wanted to check out the large grilled chicken breast sandwich in my backpack!) empty water bottle and play the random seat game. My kids even make fun of me for flying this way! I suppose the $500 bonus is worth it enough to tip the scales here but knowing me I would have to figure out the best use of the $100 incidental fee reimbursement- probably for seat assignments on United when they are the cheapest for my route...

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Sat Sep 14, 2019 6:12 pm

newenglandpat wrote:
Sat Sep 14, 2019 5:46 pm
808 wrote:
Sat Sep 14, 2019 5:28 pm
newenglandpat wrote:
Sat Sep 14, 2019 5:22 pm
how do you get to 2.62% back with BOA cash rewards card? I see (below) 1% unlimited, 3% (up to $2500/qtr) for online making preferred rewards = 1.75% everything and 5.25% for online
Premium Rewards credit card
2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.

2.0 * 1.75 = 3.5%
1.5 * 1.75 = 2.62%

Combine this card with the Cash Rewards for 5.25% in one category (per card, you can have more than one).
true, but is the $95/year fee worth it?? I've never paid a penny for credit card fees...EVER!!
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
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frcabot
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by frcabot » Sun Sep 15, 2019 12:35 pm

It’s worth it to me even before the travel rebates. I previously had the fidelity rewards credit card, free with 2% on everything. Now, with a cash back rate of between 2.62 and 3.5%, I still get way more cash back even after a $95 annual fee (plus, my annual fee was comped this year). It all depends on your credit card spend, but mine is high enough (several thousand dollars per month) that the extra cash back easily pays for the $95 (plus there was a $500 bonus so...).

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Sun Sep 15, 2019 6:01 pm

You can get more than one cash rewards card too which will give you multiple 5.25% categories now that they let you choose so I have one for gas and one for drug stores.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by investor997 » Sun Sep 15, 2019 6:17 pm

frcabot wrote:
Sun Sep 15, 2019 12:35 pm
It’s worth it to me even before the travel rebates. I previously had the fidelity rewards credit card, free with 2% on everything. Now, with a cash back rate of between 2.62 and 3.5%, I still get way more cash back even after a $95 annual fee (plus, my annual fee was comped this year). It all depends on your credit card spend, but mine is high enough (several thousand dollars per month) that the extra cash back easily pays for the $95 (plus there was a $500 bonus so...).
How'd you get the annual fee on the Premium Rewards card comped? Did you threaten to cancel?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Eno Deb » Sun Sep 15, 2019 10:36 pm

indexfundfan wrote:
Sat Sep 14, 2019 6:12 pm
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
Can you actually transfer the points from the Travel Rewards card and if yes, where?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj » Mon Sep 16, 2019 10:33 am

Eno Deb wrote:
Sun Sep 15, 2019 10:36 pm
indexfundfan wrote:
Sat Sep 14, 2019 6:12 pm
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
Can you actually transfer the points from the Travel Rewards card and if yes, where?
BofA worldpoints or whatever they are called now. You used to be able to transfer them to the Fidelity card and redeem as cashback, but the Fidelity card moved from FIA to Elan.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Mon Sep 16, 2019 12:50 pm

Eno Deb wrote:
Sun Sep 15, 2019 10:36 pm
indexfundfan wrote:
Sat Sep 14, 2019 6:12 pm
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
Can you actually transfer the points from the Travel Rewards card and if yes, where?
I transfer them to the Premium Rewards card for cash redemption.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Mon Sep 16, 2019 12:52 pm

Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)

frcabot
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by frcabot » Mon Sep 16, 2019 1:28 pm

investor997 wrote:
Sun Sep 15, 2019 6:17 pm
frcabot wrote:
Sun Sep 15, 2019 12:35 pm
It’s worth it to me even before the travel rebates. I previously had the fidelity rewards credit card, free with 2% on everything. Now, with a cash back rate of between 2.62 and 3.5%, I still get way more cash back even after a $95 annual fee (plus, my annual fee was comped this year). It all depends on your credit card spend, but mine is high enough (several thousand dollars per month) that the extra cash back easily pays for the $95 (plus there was a $500 bonus so...).
How'd you get the annual fee on the Premium Rewards card comped? Did you threaten to cancel?
I have a big account at Merrill.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by frcabot » Mon Sep 16, 2019 1:29 pm

whodidntante wrote:
Mon Sep 16, 2019 12:52 pm
Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)
Not AFAIK but maybe the preferred reward bonus will come back. The trader expo offer expired a couple weeks ago.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Mon Sep 16, 2019 1:37 pm

whodidntante wrote:
Mon Sep 16, 2019 12:52 pm
Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)
Elevated promotion for the San Francisco Money Show is currently active, expires October 17:
https://www.merrilledge.com/offers/1000 ... w-_-sfms19

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Eno Deb » Mon Sep 16, 2019 1:55 pm

whodidntante wrote:
Mon Sep 16, 2019 12:50 pm
Eno Deb wrote:
Sun Sep 15, 2019 10:36 pm
indexfundfan wrote:
Sat Sep 14, 2019 6:12 pm
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
Can you actually transfer the points from the Travel Rewards card and if yes, where?
I transfer them to the Premium Rewards card for cash redemption.
Hm, that kind of defeats the purpose. I asked because the Travel Rewards card is a potential no-annual-fee alternative to the Premium Rewards that gets the same 2.62% for general expenses. If I had both, I could just use the Premium Rewards directly since it has the same or higher rewards rates for all types of expenses.

Is it possible to transfer points from the Travel Rewards to a Cash Rewards card too?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Mon Sep 16, 2019 2:39 pm

Eno Deb wrote:
Mon Sep 16, 2019 1:55 pm
whodidntante wrote:
Mon Sep 16, 2019 12:50 pm
Eno Deb wrote:
Sun Sep 15, 2019 10:36 pm
indexfundfan wrote:
Sat Sep 14, 2019 6:12 pm
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
Can you actually transfer the points from the Travel Rewards card and if yes, where?
I transfer them to the Premium Rewards card for cash redemption.
Hm, that kind of defeats the purpose. I asked because the Travel Rewards card is a potential no-annual-fee alternative to the Premium Rewards that gets the same 2.62% for general expenses. If I had both, I could just use the Premium Rewards directly since it has the same or higher rewards rates for all types of expenses.

Is it possible to transfer points from the Travel Rewards to a Cash Rewards card too?
Depends. I recently received a targetted spending bonus on my travel rewards card. It was for an extra $100 on $5,000 in spending, above the 2.62%. So I used the card to pay my property taxes and I needed a way to convert all those points to cash.

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whodidntante
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Location: outside the echo chamber

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Tue Sep 17, 2019 10:55 pm

pre wrote:
Mon Sep 16, 2019 1:37 pm
whodidntante wrote:
Mon Sep 16, 2019 12:52 pm
Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)
Elevated promotion for the San Francisco Money Show is currently active, expires October 17:
https://www.merrilledge.com/offers/1000 ... w-_-sfms19
Thanks. I grabbed this offer. I needed to bring some money over to requalify for platinum honors, so I thought I should earn a bonus while I'm at it.

motorcyclesarecool
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by motorcyclesarecool » Wed Sep 18, 2019 5:24 am

I was hoping for a better bonus at the $100k level but clicked anyway. Looks like the bonuses just increased by a lot. Looks like I’m moving soon.

$100 ($20k)
$250 ($50k)
$500 ($100k)
$1000 ($200k)
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Wed Sep 18, 2019 4:18 pm

motorcyclesarecool wrote:
Wed Sep 18, 2019 5:24 am
I was hoping for a better bonus at the $100k level but clicked anyway. Looks like the bonuses just increased by a lot. Looks like I’m moving soon.

$100 ($20k)
$250 ($50k)
$500 ($100k)
$1000 ($200k)
That's the usual for the money show offers which technically say you have to attend but they don't check.

jcar
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Location: NC

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jcar » Wed Sep 18, 2019 4:56 pm

So if you move 200k now then 200k a month later does that double the bonus. Thanks

placeholder
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Joined: Tue Aug 06, 2013 12:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Wed Sep 18, 2019 4:59 pm

jcar wrote:
Wed Sep 18, 2019 4:56 pm
So if you move 200k now then 200k a month later does that double the bonus. Thanks
I think they allow two bonuses per 12 months anyway I did one to individual and one to Roth in January and received 1000 in each.

pre
Posts: 90
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Wed Sep 18, 2019 5:17 pm

placeholder wrote:
Wed Sep 18, 2019 4:59 pm
jcar wrote:
Wed Sep 18, 2019 4:56 pm
So if you move 200k now then 200k a month later does that double the bonus. Thanks
I think they allow two bonuses per 12 months anyway I did one to individual and one to Roth in January and received 1000 in each.
Right, it's one bonus each rolling 12 month period, for each CMA and IRA

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