Bank of America/Merrill Edge - Preferred Rewards

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

Post by tj »

Leesbro63 wrote: Mon Jan 27, 2025 5:35 am I'm about to buy an American Airlines eGiftCard for resale on CashCard. I did this a few years ago, but, frankly, forget if there were any nuances that I need to be aware of. The site asks for what name to put on the card for both giver and getter. Will the matter for resale? Will the eCard be re-sellable, or must I get the physical card in the mail? Any short list of instructions to make this work would be helpful. Thanks!
Names don't matter. Virtual card has always worked.
stilllurking
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by stilllurking »

stilllurking wrote: Sun Jan 26, 2025 7:34 pm My meter reset today and my purchase on 1/7/25 is shown on the activity meter as expected.
Adding another dp. My AA transactions made on 1/25/25 that posted on 1/26/25 moved my meter on 1/28/25. The transactions were solely the $5.60 pp in taxes for award flights paid with miles.

I have not seen any actual credits of the $100 airline incidentals credit yet. I'm not worried about that though.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Leesbro63 wrote: Mon Jan 27, 2025 5:35 am I'm about to buy an American Airlines eGiftCard for resale on CashCard. I did this a few years ago, but, frankly, forget if there were any nuances that I need to be aware of. The site asks for what name to put on the card for both giver and getter. Will the matter for resale? Will the eCard be re-sellable, or must I get the physical card in the mail? Any short list of instructions to make this work would be helpful. Thanks!
I plan to do the same, I am waiting for someone to confirm their purchase of the AA eGC triggered the credit.
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

anon_investor wrote: Tue Jan 28, 2025 9:22 pm
Leesbro63 wrote: Mon Jan 27, 2025 5:35 am I'm about to buy an American Airlines eGiftCard for resale on CashCard. I did this a few years ago, but, frankly, forget if there were any nuances that I need to be aware of. The site asks for what name to put on the card for both giver and getter. Will the matter for resale? Will the eCard be re-sellable, or must I get the physical card in the mail? Any short list of instructions to make this work would be helpful. Thanks!
I plan to do the same, I am waiting for someone to confirm their purchase of the AA eGC triggered the credit.

Ya'll paranoid. :D

last year purchase was 1/15 and credit 1/19.

This year purchase was 1/27, so credit should show up 1/31.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

tj wrote: Wed Jan 29, 2025 8:29 am
anon_investor wrote: Tue Jan 28, 2025 9:22 pm

I plan to do the same, I am waiting for someone to confirm their purchase of the AA eGC triggered the credit.

Ya'll paranoid. :D

last year purchase was 1/15 and credit 1/19.

This year purchase was 1/27, so credit should show up 1/31.
You bought an AA eGC?
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

anon_investor wrote: Wed Jan 29, 2025 6:21 pm
tj wrote: Wed Jan 29, 2025 8:29 am


Ya'll paranoid. :D

last year purchase was 1/15 and credit 1/19.

This year purchase was 1/27, so credit should show up 1/31.
You bought an AA eGC?
Of course. Every year since I had the card. Why change now? I do it on the Penfed Pathfinder, too.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

tj wrote: Wed Jan 29, 2025 8:11 pm
anon_investor wrote: Wed Jan 29, 2025 6:21 pm

You bought an AA eGC?
Of course. Every year since I had the card. Why change now? I do it on the Penfed Pathfinder, too.
Thanks for the data point! I am going to buy one now!
stilllurking
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by stilllurking »

stilllurking wrote: Tue Jan 28, 2025 8:09 pm
stilllurking wrote: Sun Jan 26, 2025 7:34 pm My meter reset today and my purchase on 1/7/25 is shown on the activity meter as expected.
Adding another dp. My AA transactions made on 1/25/25 that posted on 1/26/25 moved my meter on 1/28/25. The transactions were solely the $5.60 pp in taxes for award flights paid with miles.

I have not seen any actual credits of the $100 airline incidentals credit yet. I'm not worried about that though.
Received my airline incidental credit today for my purchase on 1/7.
Leesbro63
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

I bought a $100 American Airlines eGiftCard on Jan 27th and see the rewards meter showing this purchase and showing the meter fully used up with $100 of incidental purchase credit (with zero left to use for 2025). But the credit has not yet shown up in the ledger of activity.
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

Leesbro63 wrote: Thu Jan 30, 2025 5:43 am I bought a $100 American Airlines eGiftCard on Jan 27th and see the rewards meter showing this purchase and showing the meter fully used up with $100 of incidental purchase credit (with zero left to use for 2025). But the credit has not yet shown up in the ledger of activity.
Unless my meter populated overnight, it wasn't showing yesterday. I'm not worried. your credit should show up tomorrow or maybe even a few days later with tomorrow's date. 🤷🏻‍♂️

Edit: meter did populate overnight.
isira
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by isira »

isira wrote: Sun Jan 26, 2025 8:04 pm
Lastrun wrote: Sun Jan 26, 2025 7:53 pm

Confirmed. Two separate data points.

1. My PRE meter reset this evening.

2. My wife has a new 2025 PR and her meter shows the 2025 credit for a United Travel Bank purchase earlier this month.
My PRE meter has also reset and my 2x $160 United Economy+ upgrades on 1/7 are listed.
I received my Airline Incidental credits this morning.

Also the Lifestyle Credit meter has reset. My Lyft transaction on 1/15 and Uber Eats on 1/23 are listed.
Lastrun
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

isira wrote: Thu Jan 30, 2025 11:09 am
isira wrote: Sun Jan 26, 2025 8:04 pm

My PRE meter has also reset and my 2x $160 United Economy+ upgrades on 1/7 are listed.
I received my Airline Incidental credits this morning.

Also the Lifestyle Credit meter has reset. My Lyft transaction on 1/15 and Uber Eats on 1/23 are listed.
So my wife on her PR was 1/14 charge and 1/29 credit posted for United.
Walkure
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Walkure »

vaylie wrote: Wed May 03, 2023 3:31 pm Just received an interesting e-mail from BoA:
You're invited to join our Advisory Panel

You have been selected to join the Bank of America® Advisory Panel, a group of customers who help us learn what we're doing right and what we need to do better.

Every time you share your thoughts, you'll have the opportunity to earn rewards. And just for joining, you'll be entered into a drawing for a $1,000 Visa® gift card from Ipsos.*
Anyone else join this thing? Think it's worth giving your opinions/might it make a difference? I'm tempted to join just to ask them for better 2FA options every time I'm asked my opinion, but I don't know what these surveys look like.
I opened an account a few months back and just received a similar invitation. Did you end up joining?
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

Walkure wrote: Thu Jan 30, 2025 8:15 pm
vaylie wrote: Wed May 03, 2023 3:31 pm Just received an interesting e-mail from BoA:



Anyone else join this thing? Think it's worth giving your opinions/might it make a difference? I'm tempted to join just to ask them for better 2FA options every time I'm asked my opinion, but I don't know what these surveys look like.
I opened an account a few months back and just received a similar invitation. Did you end up joining?
You get enough points to redeem for a $5 amazon GC every now and then. The surveys kind of take a while. It is significantly less than minimum wage.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

tj wrote: Thu Jan 30, 2025 8:10 am
Leesbro63 wrote: Thu Jan 30, 2025 5:43 am I bought a $100 American Airlines eGiftCard on Jan 27th and see the rewards meter showing this purchase and showing the meter fully used up with $100 of incidental purchase credit (with zero left to use for 2025). But the credit has not yet shown up in the ledger of activity.
Unless my meter populated overnight, it wasn't showing yesterday. I'm not worried. your credit should show up tomorrow or maybe even a few days later with tomorrow's date. 🤷🏻‍♂️

Edit: meter did populate overnight.
I purchased $100 AA eGC on 1/30, listed as posted on 1/30, waiting for the meter to change and the credit. Hopefully that all happens before my statement closes next month.
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

anon_investor wrote: Fri Jan 31, 2025 9:26 am
tj wrote: Thu Jan 30, 2025 8:10 am

Unless my meter populated overnight, it wasn't showing yesterday. I'm not worried. your credit should show up tomorrow or maybe even a few days later with tomorrow's date. 🤷🏻‍♂️

Edit: meter did populate overnight.
I purchased $100 AA eGC on 1/30, listed as posted on 1/30, waiting for the meter to change and the credit. Hopefully that all happens before my statement closes next month.
As long as your statement closes at least a week from now, you should be good.
stilllurking
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by stilllurking »

stilllurking wrote: Thu Jan 30, 2025 5:35 am
stilllurking wrote: Tue Jan 28, 2025 8:09 pm

Adding another dp. My AA transactions made on 1/25/25 that posted on 1/26/25 moved my meter on 1/28/25. The transactions were solely the $5.60 pp in taxes for award flights paid with miles.

I have not seen any actual credits of the $100 airline incidentals credit yet. I'm not worried about that though.
Received my airline incidental credit today for my purchase on 1/7.
All my transactions from 1/25 were credited today to fill my $100 meter. Looks like they will be done in a week after your meter resets. At least there won't be concerns next year if you make transactions in early January before your meter resets.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

tj wrote: Fri Jan 31, 2025 9:40 am
anon_investor wrote: Fri Jan 31, 2025 9:26 am

I purchased $100 AA eGC on 1/30, listed as posted on 1/30, waiting for the meter to change and the credit. Hopefully that all happens before my statement closes next month.
As long as your statement closes at least a week from now, you should be good.
Nice my meter updated today (2/1).

Just waiting for my AA eGC to be available to sell for $78.

Which means I will only need to spend $1,258 on dinning/travel this year on my PR to recoup the $95 annual fee (factoring in the $5.99 cash back for the $95 annual fee and $100 AA eGC). That doesn't even factor in the $100 Global Entry credit I got 2 years ago.
Leesbro63
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

anon_investor wrote: Sat Feb 01, 2025 7:21 am
tj wrote: Fri Jan 31, 2025 9:40 am

As long as your statement closes at least a week from now, you should be good.
Nice my meter updated today (2/1).

Just waiting for my AA eGC to be available to sell for $78.

Which means I will only need to spend $1,258 on dinning/travel this year on my PR to recoup the $95 annual fee (factoring in the $5.99 cash back for the $95 annual fee and $100 AA eGC). That doesn't even factor in the $100 Global Entry credit I got 2 years ago.
I can confirm that I sold my AA eGC for $78 via CashCard and that money hit my checking account today. I can see the rewards meter showing that $100 was used up for 2025, but I have not yet actually gotten a $100 credit to my account.

Edit Update: My $100 credit posted this morning, Sun Feb 2, 2025, Groundhog Day
Last edited by Leesbro63 on Sun Feb 02, 2025 5:59 am, edited 1 time in total.
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

stilllurking wrote: Sat Feb 01, 2025 6:39 am
stilllurking wrote: Thu Jan 30, 2025 5:35 am

Received my airline incidental credit today for my purchase on 1/7.
All my transactions from 1/25 were credited today to fill my $100 meter. Looks like they will be done in a week after your meter resets. At least there won't be concerns next year if you make transactions in early January before your meter resets.
My 1/27 transaction shows a credit date of 1/31 which is what i expected.
isira
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by isira »

isira wrote: Thu Jan 30, 2025 11:09 am
isira wrote: Sun Jan 26, 2025 8:04 pm

My PRE meter has also reset and my 2x $160 United Economy+ upgrades on 1/7 are listed.
I received my Airline Incidental credits this morning.

Also the Lifestyle Credit meter has reset. My Lyft transaction on 1/15 and Uber Eats on 1/23 are listed.
Lifestyle credits received this morning.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Leesbro63 wrote: Sat Feb 01, 2025 8:41 am
anon_investor wrote: Sat Feb 01, 2025 7:21 am

Nice my meter updated today (2/1).

Just waiting for my AA eGC to be available to sell for $78.

Which means I will only need to spend $1,258 on dinning/travel this year on my PR to recoup the $95 annual fee (factoring in the $5.99 cash back for the $95 annual fee and $100 AA eGC). That doesn't even factor in the $100 Global Entry credit I got 2 years ago.
I can confirm that I sold my AA eGC for $78 via CashCard and that money hit my checking account today. I can see the rewards meter showing that $100 was used up for 2025, but I have not yet actually gotten a $100 credit to my account.

Edit Update: My $100 credit posted this morning, Sun Feb 2, 2025, Groundhog Day
Thanks for the data point.

I just sold my AA eGC for $78 on CardCash. I expect it to hit my PayPal account sometime next week, and I hope to also get the BoA incidental travel credit this week too.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

Ok, because my new USBank Smartly 4% rebate Visa card is now my "go to" card, I think I'd like to downgrade my BofA card to the no-$95fee card. I just claimed the $100 "incidental airline charge credit" and it's all fully posted to my account. The $95 annual fee, for 2025, hits the account on February 28th. If I downgrade now, will I retain the credit for 2025? I think the answer is "yes", but I'm not sure.
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

Leesbro63 wrote: Mon Feb 03, 2025 11:35 am Ok, because my new USBank Smartly 4% rebate Visa card is now my "go to" card, I think I'd like to downgrade my BofA card to the no-$95fee card. I just claimed the $100 "incidental airline charge credit" and it's all fully posted to my account. The $95 annual fee, for 2025, hits the account on February 28th. If I downgrade now, will I retain the credit for 2025? I think the answer is "yes", but I'm not sure.
Who knows. If you downgrade after the fee, they'll refund you, per FrugalProfessor -at least within a certain timeframe.

https://frugalprofessor.com/repurposing ... wards-card
Lastrun
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

Leesbro63 wrote: Mon Feb 03, 2025 11:35 am Ok, because my new USBank Smartly 4% rebate Visa card is now my "go to" card, I think I'd like to downgrade my BofA card to the no-$95fee card. I just claimed the $100 "incidental airline charge credit" and it's all fully posted to my account. The $95 annual fee, for 2025, hits the account on February 28th. If I downgrade now, will I retain the credit for 2025? I think the answer is "yes", but I'm not sure.
I am not sure on the credit, but do you travel? The reason is the $95 card does have some basic travel and purchase protections that the Smartly and the BofA UCR lack, but they may not be of interest to you because (1) you don't travel, or (2) have another travel card.

Also, based on multiple data points when you downgrade to the UCR you do get the keep the no FTF aspect of the PR.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

Lastrun wrote: Mon Feb 03, 2025 11:44 am
Leesbro63 wrote: Mon Feb 03, 2025 11:35 am Ok, because my new USBank Smartly 4% rebate Visa card is now my "go to" card, I think I'd like to downgrade my BofA card to the no-$95fee card. I just claimed the $100 "incidental airline charge credit" and it's all fully posted to my account. The $95 annual fee, for 2025, hits the account on February 28th. If I downgrade now, will I retain the credit for 2025? I think the answer is "yes", but I'm not sure.
I am not sure on the credit, but do you travel? The reason is the $95 card does have some basic travel and purchase protections that the Smartly and the BofA UCR lack, but they may not be of interest to you because (1) you don't travel, or (2) have another travel card.

Also, based on multiple data points when you downgrade to the UCR you do get the keep the no FTF aspect of the PR.
I don't travel much, and the 4% USBank rebate will be good enough. I do get that that a 3% travel fee savings plus 2.625% back from BofA is better.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

tj wrote: Mon Feb 03, 2025 11:43 am
Leesbro63 wrote: Mon Feb 03, 2025 11:35 am Ok, because my new USBank Smartly 4% rebate Visa card is now my "go to" card, I think I'd like to downgrade my BofA card to the no-$95fee card. I just claimed the $100 "incidental airline charge credit" and it's all fully posted to my account. The $95 annual fee, for 2025, hits the account on February 28th. If I downgrade now, will I retain the credit for 2025? I think the answer is "yes", but I'm not sure.
Who knows. If you downgrade after the fee, they'll refund you, per FrugalProfessor -at least within a certain timeframe.

https://frugalprofessor.com/repurposing ... wards-card
So since I don't travel much (don't care about saving on Foreign Transaction Fee), what BofA card should I downgrade to?
tj
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

Leesbro63 wrote: Mon Feb 03, 2025 11:50 am
tj wrote: Mon Feb 03, 2025 11:43 am

Who knows. If you downgrade after the fee, they'll refund you, per FrugalProfessor -at least within a certain timeframe.

https://frugalprofessor.com/repurposing ... wards-card
So since I don't travel much (don't care about saving on Foreign Transaction Fee), what BofA card should I downgrade to?
Depends if you are going to keep $100k at BofA and want a 2.625% card or a 5.25% card in a category. If you're not doing any of those things, probably doesn't matter.
Leesbro63
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

tj wrote: Mon Feb 03, 2025 12:02 pm
Leesbro63 wrote: Mon Feb 03, 2025 11:50 am

So since I don't travel much (don't care about saving on Foreign Transaction Fee), what BofA card should I downgrade to?
Depends if you are going to keep $100k at BofA and want a 2.625% card or a 5.25% card in a category. If you're not doing any of those things, probably doesn't matter.
I have a Merrill Edge brokerage account which will remain with more than $100K. I'm not sure what "categories" I'd benefit from. So probably I'd want the 2.625% card.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by vaylie »

Leesbro63 wrote: Mon Feb 03, 2025 12:12 pmI have a Merrill Edge brokerage account which will remain with more than $100K. I'm not sure what "categories" I'd benefit from. So probably I'd want the 2.625% card.
If your other card earns 4%, is there ever a situation where you'd use a 2.65% card instead? At least the CCR has the chance to earn more in a category, though it's capped by quarter. Personally, I think you can't go wrong with the Online Shopping category, especially now that it applies to phone bills and internet bills. I mean, who doesn't buy stuff online right?
Lastrun
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

vaylie wrote: Mon Feb 03, 2025 1:13 pm
Leesbro63 wrote: Mon Feb 03, 2025 12:12 pmI have a Merrill Edge brokerage account which will remain with more than $100K. I'm not sure what "categories" I'd benefit from. So probably I'd want the 2.625% card.
If your other card earns 4%, and you don't travel out of the country or buy foreign goods, is there ever a situation where you'd use a 2.65% card instead? At least the CCR has the chance to earn more in a category, though it's capped by quarter. Personally, I think you can't go wrong with the Online Shopping category, especially now that it applies to phone bills and internet bills. I mean, who doesn't buy stuff online right?
I would ask the question this way, and and agree with you and think it is a really good one for Leesbro63.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

vaylie wrote: Mon Feb 03, 2025 1:13 pm
Leesbro63 wrote: Mon Feb 03, 2025 12:12 pmI have a Merrill Edge brokerage account which will remain with more than $100K. I'm not sure what "categories" I'd benefit from. So probably I'd want the 2.625% card.
If your other card earns 4%, is there ever a situation where you'd use a 2.65% card instead? At least the CCR has the chance to earn more in a category, though it's capped by quarter. Personally, I think you can't go wrong with the Online Shopping category, especially now that it applies to phone bills and internet bills. I mean, who doesn't buy stuff online right?
To be honest, many of us with the USBank card suspect something will change and not for the better. So I'd like to have that 2.625% card in reserve. In particular, to pay federal income tax. It wouldn't surprise me if USBank ends or limits tax payments.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

anon_investor wrote: Sun Feb 02, 2025 10:05 am
Leesbro63 wrote: Sat Feb 01, 2025 8:41 am

I can confirm that I sold my AA eGC for $78 via CashCard and that money hit my checking account today. I can see the rewards meter showing that $100 was used up for 2025, but I have not yet actually gotten a $100 credit to my account.

Edit Update: My $100 credit posted this morning, Sun Feb 2, 2025, Groundhog Day
Thanks for the data point.

I just sold my AA eGC for $78 on CardCash. I expect it to hit my PayPal account sometime next week, and I hope to also get the BoA incidental travel credit this week too.
Got my $78 from CardCash via PayPal already. Now just waiting for my $100 credit (meter updated already). Pretty quick and simple.
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anon_investor
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Leesbro63 wrote: Mon Feb 03, 2025 2:41 pm
vaylie wrote: Mon Feb 03, 2025 1:13 pm

If your other card earns 4%, is there ever a situation where you'd use a 2.65% card instead? At least the CCR has the chance to earn more in a category, though it's capped by quarter. Personally, I think you can't go wrong with the Online Shopping category, especially now that it applies to phone bills and internet bills. I mean, who doesn't buy stuff online right?
To be honest, many of us with the USBank card suspect something will change and not for the better. So I'd like to have that 2.625% card in reserve. In particular, to pay federal income tax. It wouldn't surprise me if USBank ends or limits tax payments.
That's part of the reason I have not jumped through the hoops to get a US Bank set up, helps to have a PR and 4x CCR, so I am getting 5.25%/3.5% on a lot of stuff.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

I think the US Bank skepticsm is unfounded. If BofA has lasted this long, there's really no reason that US Bank can't also last.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FrugalProfessor »

Lastrun wrote: Mon Feb 03, 2025 1:29 pm
vaylie wrote: Mon Feb 03, 2025 1:13 pm

If your other card earns 4%, and you don't travel out of the country or buy foreign goods, is there ever a situation where you'd use a 2.65% card instead? At least the CCR has the chance to earn more in a category, though it's capped by quarter. Personally, I think you can't go wrong with the Online Shopping category, especially now that it applies to phone bills and internet bills. I mean, who doesn't buy stuff online right?
I would ask the question this way, and and agree with you and think it is a really good one for Leesbro63.
I have two US bank cards --- the 4% smartly and the 4.5% altitude reserve (no FTF, global entry, priority pass x 10, primary rental car insurance). I also have eight 5.25% cash rewards cards. I also have the 2% Fidelity card with no FTF and free global entry (which has lived in the sock drawer for 15 years but will reemerge for global entry at a minimum).

Given this setup, I couldn't justify maintaining the 2.625% Premium Rewards card with its $95 annual fee, even with the $100 United/AA egift card gimmick. I couldn't envision a single scenario where it would make sense to do use the PR card going forward. Hence the downgrade to the no-FTF 5.25% cash rewards card.

If the 4% smartly card is nerfed, maybe I'll reconvert back to the PR.

I agree the blog post wasn't informative to those "in the know." But there were weird quirks I wished I'd known before hand (such as waiting for the statement to close then zeroing out the rewards balance before calling).
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

FrugalProfessor wrote: Mon Feb 03, 2025 8:50 pm
Lastrun wrote: Mon Feb 03, 2025 1:29 pm

I would ask the question this way, and and agree with you and think it is a really good one for Leesbro63.
I have two US bank cards --- the 4% smartly and the 4.5% altitude reserve (no FTF, global entry, priority pass x 10, primary rental car insurance). I also have eight 5.25% cash rewards cards. I also have the 2% Fidelity card with no FTF and free global entry (which has lived in the sock drawer for 15 years but will reemerge for global entry at a minimum).

Given this setup, I couldn't justify maintaining the 2.625% Premium Rewards card with its $95 annual fee, even with the $100 United/AA egift card gimmick. I couldn't envision a single scenario where it would make sense to do use the PR card going forward. Hence the downgrade to the no-FTF 5.25% cash rewards card.

If the 4% smartly card is nerfed, maybe I'll reconvert back to the PR.

I agree the blog post wasn't informative to those "in the know." But there were weird quirks I wished I'd known before hand (such as waiting for the statement to close then zeroing out the rewards balance before calling).
Not sure why you would use Fidelity for global entry rather than the USBAR. The USBAR refunds the whole $120. Fidelity only refunds $100, I think.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by boogiehead »

tj wrote: Mon Feb 03, 2025 8:40 pm I think the US Bank skepticsm is unfounded. If BofA has lasted this long, there's really no reason that US Bank can't also last.
Add me to skeptical list... when you have something too good to be true, most likely it'll end sooner rather than later.

I imagine someone or group will find a way to exploit this as you can be making money with the cash back of ~1.5% post credit card fees with no cap. Once US Bank gets some data on this program, I'm pretty sure there will be new stipulation or cap.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bongo »

FrugalProfessor'sBlog wrote: Mon Feb 03, 2025 8:50 pm
  • It takes a while for the conversion to go through—several weeks in my case.
I've been waiting about 10 days and was about to call to check, but I guess this is normal and will wait a bit more. I was already surprised when they said they would review it instead of downgrading me on the spot. The other ominous thing they said was if they can't do the downgrade, then my old card would just close and I couldn't keep it, which I found very strange.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

tj wrote: Mon Feb 03, 2025 8:55 pm
FrugalProfessor wrote: Mon Feb 03, 2025 8:50 pm

I have two US bank cards --- the 4% smartly and the 4.5% altitude reserve (no FTF, global entry, priority pass x 10, primary rental car insurance). I also have eight 5.25% cash rewards cards. I also have the 2% Fidelity card with no FTF and free global entry (which has lived in the sock drawer for 15 years but will reemerge for global entry at a minimum).

Given this setup, I couldn't justify maintaining the 2.625% Premium Rewards card with its $95 annual fee, even with the $100 United/AA egift card gimmick. I couldn't envision a single scenario where it would make sense to do use the PR card going forward. Hence the downgrade to the no-FTF 5.25% cash rewards card.

If the 4% smartly card is nerfed, maybe I'll reconvert back to the PR.

I agree the blog post wasn't informative to those "in the know." But there were weird quirks I wished I'd known before hand (such as waiting for the statement to close then zeroing out the rewards balance before calling).
Not sure why you would use Fidelity for global entry rather than the USBAR. The USBAR refunds the whole $120. Fidelity only refunds $100, I think.
I wonder if PR will increase the credit to $120.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

tj wrote: Mon Feb 03, 2025 8:40 pm I think the US Bank skepticsm is unfounded. If BofA has lasted this long, there's really no reason that US Bank can't also last.
Aren't interchange fees that CCs charge merchants less than 4%? US Bank is losing money on every transaction. CCR 3.5%/5.25% is capped.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

anon_investor wrote: Mon Feb 03, 2025 11:23 pm
tj wrote: Mon Feb 03, 2025 8:40 pm I think the US Bank skepticsm is unfounded. If BofA has lasted this long, there's really no reason that US Bank can't also last.
Aren't interchange fees that CCs charge merchants less than 4%? US Bank is losing money on every transaction. CCR 3.5%/5.25% is capped.
It's a loss leader, and the PR 2.625%/3.5% has no cap.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

tj wrote: Mon Feb 03, 2025 11:38 pm
anon_investor wrote: Mon Feb 03, 2025 11:23 pm

Aren't interchange fees that CCs charge merchants less than 4%? US Bank is losing money on every transaction. CCR 3.5%/5.25% is capped.
It's a loss leader, and the PR 2.625%/3.5% has no cap.
Yes, but the PR has a $95 fee, albeit not a big one but still requires some not insignificant spend over no fee alternatives.

We know that 2% on general spend is sustainable (Fidelity, SoFi, Wells Fargo, Citi, etc.) and we know that 3% on travel and dining is sustainable (Wells Fargo, Citi, Capital One, etc.).

So BofA is roughly a half a percent more benefit, with a $95 fee, and hoops, but no FTF.

Smartly is 1-2% more with no annual fee, but hoops and an FTF.

Is the loss leader sustainable? We shall see. But I am not sure BofA is an apples to apples comparison.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Leesbro63 »

tj wrote: Mon Feb 03, 2025 8:40 pm I think the US Bank skepticsm is unfounded. If BofA has lasted this long, there's really no reason that US Bank can't also last.
I see people paying $100,000 income tax bills, in pieces, via the 4% USBank Smartly Visa card. Can USBank really afford to let $4000 rewards on that happen? For how long? My own guess is that they'll try to maintain the 4% headline, but limit tax payments or all payments. Or they could go to 3% to stay head of BofA's 2.625% but not limit the amount of charges. Meantime, the "money for nuthin'" is fun while it lasts.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by tj »

Lastrun wrote: Tue Feb 04, 2025 5:49 am
tj wrote: Mon Feb 03, 2025 11:38 pm

It's a loss leader, and the PR 2.625%/3.5% has no cap.
Yes, but the PR has a $95 fee, albeit not a big one but still requires some not insignificant spend over no fee alternatives.

We know that 2% on general spend is sustainable (Fidelity, SoFi, Wells Fargo, Citi, etc.) and we know that 3% on travel and dining is sustainable (Wells Fargo, Citi, Capital One, etc.).

So BofA is roughly a half a percent more benefit, with a $95 fee, and hoops, but no FTF.

Smartly is 1-2% more with no annual fee, but hoops and an FTF.

Is the loss leader sustainable? We shall see. But I am not sure BofA is an apples to apples comparison.
The BofA card has a travel credit (and global entry credit) that makes than offsets the fee.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by Lastrun »

tj wrote: Tue Feb 04, 2025 8:38 am
Lastrun wrote: Tue Feb 04, 2025 5:49 am

Yes, but the PR has a $95 fee, albeit not a big one but still requires some not insignificant spend over no fee alternatives.

We know that 2% on general spend is sustainable (Fidelity, SoFi, Wells Fargo, Citi, etc.) and we know that 3% on travel and dining is sustainable (Wells Fargo, Citi, Capital One, etc.).

So BofA is roughly a half a percent more benefit, with a $95 fee, and hoops, but no FTF.

Smartly is 1-2% more with no annual fee, but hoops and an FTF.

Is the loss leader sustainable? We shall see. But I am not sure BofA is an apples to apples comparison.
The BofA card has a travel credit (and global entry credit) that makes than offsets the fee.
Not really disagreeing, but I have been surprised honestly at the folks on this thread that downplay the PR either because they don't travel or don't fly AA or UA. So I have to respect them and assume the fee is not easily offset.
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by anon_investor »

Just got my $100 incidental travel credit, here is my timeline for 2025:

1/28: I noticed the meter updated to show $0 credit used for 2025 (I don't know the exact day this happened, but it wasn't updated the week before)
1/30: bought $100 AA eGC
1/30: transaction marked as posted
1/31-2/1: meter updated to show $100 credit redeemed (I don't remember the exact day)
2/2: sold $100 AA eGC to CardCash for $78
2/4: received $78 from CardCash via PayPal
2/4: received $100 incidental travel credit
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by FrugalProfessor »

tj wrote: Mon Feb 03, 2025 8:55 pm Not sure why you would use Fidelity for global entry rather than the USBAR. The USBAR refunds the whole $120. Fidelity only refunds $100, I think.
I'm planning on using both USBAR & Fidelity for global entry. One for me. One for spouse. Eldest child will get her own Fidelity card soon, I hope.

bongo wrote: Mon Feb 03, 2025 9:41 pm
FrugalProfessor'sBlog wrote: Mon Feb 03, 2025 8:50 pm
  • It takes a while for the conversion to go through—several weeks in my case.
I've been waiting about 10 days and was about to call to check, but I guess this is normal and will wait a bit more. I was already surprised when they said they would review it instead of downgrading me on the spot. The other ominous thing they said was if they can't do the downgrade, then my old card would just close and I couldn't keep it, which I found very strange.
If I recall correctly, they confirmed on the phone that I was eligible so there wasn't the ambiguity you refer to above. Weird that you are having that issue. If BoA wasn't able to downgrade, I probably would have kept the card open, albeit reluctantly, and continued to jump through the $100/year AA/United egift card hoop. But I'm happy the conversion went through so I don't have that (small) mental overhead any more for an unused inferior card (for now).
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by bongo »

FrugalProfessor wrote: Wed Feb 05, 2025 12:09 pm
bongo wrote: Mon Feb 03, 2025 9:41 pm I've been waiting about 10 days and was about to call to check, but I guess this is normal and will wait a bit more. I was already surprised when they said they would review it instead of downgrading me on the spot. The other ominous thing they said was if they can't do the downgrade, then my old card would just close and I couldn't keep it, which I found very strange.
If I recall correctly, they confirmed on the phone that I was eligible so there wasn't the ambiguity you refer to above. Weird that you are having that issue. If BoA wasn't able to downgrade, I probably would have kept the card open, albeit reluctantly, and continued to jump through the $100/year AA/United egift card hoop. But I'm happy the conversion went through so I don't have that (small) mental overhead any more for an unused inferior card (for now).
Thanks. Glad I waited to call since it changed online overnight. Something like 10 days from my call, and they did say the review would take 7-10 days. Just surprised me since other cards can process a product change instantly. [this was PR->CCR]

It kept my number and all my history which is nice. One funny thing is on the Rewards tab for past months, something that earned eg 5000 pts now shows $5000 earned. Wow that would be a great card to have!
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Re: Bank of America/Merrill Edge - Preferred Rewards

Post by av111 »

stilllurking wrote: Tue Jan 28, 2025 8:09 pm
stilllurking wrote: Sun Jan 26, 2025 7:34 pm My meter reset today and my purchase on 1/7/25 is shown on the activity meter as expected.
Adding another dp. My AA transactions made on 1/25/25 that posted on 1/26/25 moved my meter on 1/28/25. The transactions were solely the $5.60 pp in taxes for award flights paid with miles.

I have not seen any actual credits of the $100 airline incidentals credit yet. I'm not worried about that though.
Now $100 AA gift card is being sold for 95.50. What to do about the $4.50 balance on the reward? Or is another gc recommended
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