TwstdSista wrote: ↑Tue Nov 26, 2024 2:45 am
Bank of America has a total credit limit? Is this within BoA only, or amongst all credit cards held with all companies?
I've read it's $99,000 for just BoA cards... but I've also seen people post higher limits. I'm guessing it's at least partly based on your reported income.
Yes mine's slightly higher: $99.9k across 6 cards. Including other banks would make it at least twice that including 'in the drawer' cards gotten just for bonuses besides a couple of non-BOA cards we actually use sometimes.
However, BOA specifically refused to raise the line on my Unlimited Cash Rewards card above $30k even when I offered to reduce lines on other cards to keep the total constant (our 4 CCR's have lines $9-$14k but we never charge more than the $2.5k qtrly limit on 3.5/5.25% and usually not in one month). I'd gotten UCR up to $30k by reducing lines on other cards. I could use more to make sure Fed estimated will always fit with some other stuff convenient to put there. But I can put some on my Premium Rewards instead, also 2.625% general. We never know exactly what banks are looking at and I believe it's a bad idea to ask them questions related to gaming their program. But it seems possible they actually notice my Fed est tax payments and don't want to make it easier for me to do more of that, yet it's not enough for them to kick me out.
TwstdSista wrote: ↑Tue Nov 26, 2024 2:45 am
Bank of America has a total credit limit? Is this within BoA only, or amongst all credit cards held with all companies?
It's essentially with BoA only, and there have been reports before that BoA can extend beyond the 99K limit if you meet their criteria.
Bubblewhale wrote: ↑Mon Nov 25, 2024 10:09 pm
Hoping to get more CCRs in the near future to take advantage of the no FTF downgrade path trick.
What is this trick?
BoA doesn't downgrade the fee structure on their cards when you product change them, they remove the AF if moving from an AF card to non AF. General fee structure still remains the same, so in this case there wouldn't be an FTF if you PC'd from PR/PRE to CCR.
BoA doesn't downgrade the fee structure on their cards when you product change them, they remove the AF if moving from an AF card to non AF. General fee structure still remains the same, so in this case there wouldn't be an FTF if you PC'd from PR/PRE to CCR.
Can you downgrade from PR to UCR and get a no FTF UCR?
BoA doesn't downgrade the fee structure on their cards when you product change them, they remove the AF if moving from an AF card to non AF. General fee structure still remains the same, so in this case there wouldn't be an FTF if you PC'd from PR/PRE to CCR.
Can you downgrade from PR to UCR and get a no FTF UCR?
BoA doesn't downgrade the fee structure on their cards when you product change them, they remove the AF if moving from an AF card to non AF. General fee structure still remains the same, so in this case there wouldn't be an FTF if you PC'd from PR/PRE to CCR.
Can you downgrade from PR to UCR and get a no FTF UCR?
Yep that's an available path, I'm about to do it pretty soon since my AF on my PR is getting posted. BoA said that this route would not have a FTF on the UCR with no AF. Wanting to take advantage of the $100 PR credit before downgrading and getting AF refunded.
I’ve found that product changing BofA cards can be a major hassle. It took them over a month to “upgrade” me from a PR to a PRE. I guess they have to submit forms, it has to get approved, etc. Every other bank seems to be able to do it instantly in the computer system. But I can confirm that the annual fee is switched to whatever the new card is.
Weird, I have PH status too and the checking account tier higher than that. They never charged for checks ordered online. When you placed the order did they say there would be a fee?
They charged me and then promptly refunded it when I called. I think the PR status doesn’t always translate well to the third party check ordering site.
Yes I called CS and the agent was able to post the credit for standard checks right away. I also inquired as to the $300 bonus for starting the checking acct. I used their online application that automatically had the promo code entered, others on this thread said they had issues of not being registered for the bonus using that application. It does say 60 days and I'm about 40 days in after starting the account and doing the direct deposit ACH. The CS didn't have any info for me but entered a review request. I'll follow up if I don't see anything, someone said something about a notice regarding the bonus that appears later on.
SpaethCo wrote: ↑Tue Nov 26, 2024 9:54 pm
I downgraded my PRE to a UCR a couple months ago and can confirm no FTF following the product change.
Thanks for the data point. How long did to switch take for you?
It's been a while, but I want to say it was 2-3 weeks between calling and when I received the new cards. The rewards system switched over online maybe a week before the cards were mailed.
anon_investor wrote: ↑Wed Nov 27, 2024 7:12 am
Thanks for the data point. How long did to switch take for you?
It's been a while, but I want to say it was 2-3 weeks between calling and when I received the new cards. The rewards system switched over online maybe a week before the cards were mailed.
Thanks, something I may look to do if I switch over to get the 4% cash back smartly visa from US Bank.
I am preferred rewards with BofA but my fiancee is not. In fact she doesn’t have anything at BofA at the moment.
We have a joint account with Schwab but I’d like to move it to BofA.
If I open the second checking account and add her as a joint owner, will the account remain free under my preferred rewards status, or would she also have to be preferred rewards?
manlymatt83 wrote: ↑Thu Nov 28, 2024 5:19 pm
I am preferred rewards with BofA but my fiancee is not. In fact she doesn’t have anything at BofA at the moment.
We have a joint account with Schwab but I’d like to move it to BofA.
If I open the second checking account and add her as a joint owner, will the account remain free under my preferred rewards status, or would she also have to be preferred rewards?
IroquoisPlisskin wrote: ↑Tue Nov 26, 2024 1:18 pm
EDIT: One more thing, is it true that the PR bonus applies to SUBs? So that if I open up another CCR the SUB will be more than the normal $200?
manlymatt83 wrote: ↑Thu Nov 28, 2024 5:19 pm
I am preferred rewards with BofA but my fiancee is not. In fact she doesn’t have anything at BofA at the moment.
We have a joint account with Schwab but I’d like to move it to BofA.
If I open the second checking account and add her as a joint owner, will the account remain free under my preferred rewards status, or would she also have to be preferred rewards?
Joint checking would remain free via your status.
What about ATM withdrawals she makes with her debit card? Would they be reimbursed too?
IroquoisPlisskin wrote: ↑Tue Nov 26, 2024 1:18 pm
EDIT: One more thing, is it true that the PR bonus applies to SUBs? So that if I open up another CCR the SUB will be more than the normal $200?
Cranberry44 wrote: ↑Mon Nov 25, 2024 8:24 am
Hi Folks,
How do you track the $250 max cash back per quarter for the customized rewards card? Do you switch to the unlimited cash back card after you hit that limit?
*EDIT* I'm a bit confused actually. Could someone help me understand: what is the maximum cash-back per quarter is for the customized cash back rewards card (I'm unsure if the $250 in my original question is accurate), and confirm that the unlimited cash back rewards card does not have a limit? Also: any tips/methods for tracking your spending per quarter on the Customized Cash Rewards card?
Thanks and apologies for the elementary questions.
It's on $2500 of spending per quarter, so the max cash back will depend on your earn rate and rewards tier.
At platinum honors, 5.25% of $2500 is a max of $131.25 cash back per quarter.
In your online account, find the Rewards tab for the card. Click on the word BONUS for the most recent transaction. It will show the category bonus. If you have exceeded $2500 in category spending for the quarter, it will say something like "max category bonus exceeded". I usually have a pretty good idea of when I'm getting close and don't worry about going over by a few dollars, so that's the easiest way to track it. Or you can add up the purchases for the statement periods in the quarter. If you happen to spend on things that don't get the category bonus, you'd have to subtract those out.
WOW I've been going WAY over the bonus. I've had to max some large purchases each quarter (~2k) so I've really been losing out using the CCR rather than Unlimited Cash rewards for many purchases. I have platinum honors. What a bummer. Can't believe I never thought to look. Max cash back for the 75% bonus is $43.75 per month.
Glad I asked. I'll have to keep track of this now.
WOW I've been going WAY over the bonus. I've had to max some large purchases each quarter (~2k) so I've really been losing out using the CCR rather than Unlimited Cash rewards for many purchases. I have platinum honors. What a bummer. Can't believe I never thought to look. Max cash back for the 75% bonus is $43.75 per month.
Glad I asked. I'll have to keep track of this now.
Thanks for your help!
Just a clarification on the above emphasized sentence (sorry to seem pedantic!). There is technically no limit on the 75% PH bonus, you'd still get 1.75% rather than the 1% base once you go above the limit. The limit ($2500 per quarter) is only on the selected category bonus (which steps you up to 3% from 1%, x the 75% for PH). There is also no "per month" limit. You could use the full quarter's $2500 spending in the first day of the quarter if you like, and just sock drawer the card for the next 3 months.
Don't beat yourself up too much: all of these cards with a limit hope to encourage exactly this behavior, having you use it despite the limits.
But depending on your spending patterns, it can make quite a difference, and may be worth getting multiple CCR cards.
manlymatt83 wrote: ↑Sun Dec 01, 2024 5:02 pm
Curious, when do ATM refunds post to the account? Monthly? Or after each one?
The refunds post in my account at the same time as the withdrawal. I believe you still need to have available funds for the fee at the time of withdrawal.
I moved my stuff to Merrill a few weeks ago, and just received a call from someone from the Merill Premium Team? Is that a real? I've heard about a once a year call where they try to sell you stuff. (And you can just decline)
I'm still waiting for preferred rewards to kick in. When I ask the app, it only shows the amount that was in my checking as the three-month average. (I've had a long-time account)
IroquoisPlisskin wrote: ↑Mon Dec 02, 2024 4:05 pm
I moved my stuff to Merrill a few weeks ago, and just received a call from someone from the Merill Premium Team? Is that a real? I've heard about a once a year call where they try to sell you stuff. (And you can just decline)
I talked to them I think the first year I was in the program, I said I was good and they asked if I had more money to move over, which I did, and they gave me an additional bonus.
Once a year sounds about right. I don't return the phone calls at this point, but if I needed something the upper tier support (it looks like you have this) is good on the phone, and I can always go to a financial center if needed.
WOW I've been going WAY over the bonus. I've had to max some large purchases each quarter (~2k) so I've really been losing out using the CCR rather than Unlimited Cash rewards for many purchases. I have platinum honors. What a bummer. Can't believe I never thought to look. Max cash back for the 75% bonus is $43.75 per month.