Bank of America Travel Rewards + Preferred Rewards = Up to 2.775% everywhere card?
Oct 21, 2016, 9:24 am
#256
Join Date: Oct 2011
Posts: 4,166
I would definitely use the BOA Travel Rewards Visa over the CSP if u are at the mid their of bonuses or above. I used to use the CSP for everything but since Amtrak Guest Rewards is no longer a Chase partner I opened the BOA Travel Rewards Visa and Im getting the 2.625% for every dollar. I am wondering why I didn't do this sooner.
Oct 21, 2016, 12:11 pm
#258
Join Date: Oct 2011
Posts: 4,166
Yes, but ME pays no interest; at that tier you're getting free trades though. Just know that the money must be not-invested to receive tier benefits from what they told me when I asked. I have my IRA at ME and $0 is invested as I sit on the sidelines and wait for a pullback from all time highs. They said if it dropped below the tier amount due to buying equities I'd lose those benefits and drop down to the lower tier.
Oct 21, 2016, 2:49 pm
#260
Join Date: Jun 2012
Posts: 3,380
Yes, but ME pays no interest; at that tier you're getting free trades though. Just know that the money must be not-invested to receive tier benefits from what they told me when I asked. I have my IRA at ME and $0 is invested as I sit on the sidelines and wait for a pullback from all time highs. They said if it dropped below the tier amount due to buying equities I'd lose those benefits and drop down to the lower tier.
also, you get to keep the status for 12 months even if balance dips below threshold (might change in future)
Oct 21, 2016, 8:22 pm
#261
Join Date: Jul 2016
Location: SAN
Posts: 29
My business banker set us up for the business version of this card as well and we get the 75 percent multiplier on that so long as we hit 8500 a month in spend I believe. So if you have a business the 100k wouldn't even be needed if you can meet the spend requirement
Oct 22, 2016, 8:50 am
#262
Join Date: Jun 2008
Location: BAY AREA
Posts: 1,125
I can confirm all they look at is the account value. They don't care what you are or are not invested in. You need a 90 day average of 100k over a 90 day period to hit the top tier and then you keep it for a year even if you go below. The 100k is across all personal accts. Business accts do not factor in.
My business banker set us up for the business version of this card as well and we get the 75 percent multiplier on that so long as we hit 8500 a month in spend I believe. So if you have a business the 100k wouldn't even be needed if you can meet the spend requirement
My business banker set us up for the business version of this card as well and we get the 75 percent multiplier on that so long as we hit 8500 a month in spend I believe. So if you have a business the 100k wouldn't even be needed if you can meet the spend requirement
Oct 22, 2016, 5:55 pm
#263
Join Date: Oct 2011
Posts: 4,166
Originally Posted by Merril Edge
To qualify for the $0 trade program, clients need $25,000 either in personal Bank of America deposit accounts, which includes checking, savings, CDs and bank IRA accounts, OR $25,000 in settled cash within the money accounts portion of the personal Merrill Edge self-directed brokerage accounts. Investments within the accounts are not counted in the $25,000. If you qualify, you can place 30 online stock or ETF trades per calendar month at a $0 commission rate.
Oct 22, 2016, 8:11 pm
#264
Join Date: Jun 2012
Posts: 3,380
that's a different program
you're looking at
http://www.hustlermoneyblog.com/bank...nimum-balance/
https://www.merrilledge.com/zero-dollar-trades
Boa/ME's "Preferred Rewards" program is different (in this thread, we're talking about this program, stacked with the Boa TravelRewards CC
https://www.merrilledge.com/preferred-rewards
if you park $20-49k in the Preferred Rewards program, you get "Gold" tier, 25% CC bonus, and ZERO free trades.
need $50k to get 30 free trades/month, $100k for 100 free trades/month
You are eligible to enroll in the Preferred Rewards program if you have an active, eligible Bank of America personal checking account and maintain a three month average combined balance in your qualifying Bank of America deposit accounts and/or your qualifying Merrill Edge and Merrill Lynch investment accounts of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, or $100,000 for the Platinum Honors tier. SafeBalance Banking accounts do not count towards the account or balance requirements, and do not receive the fee waivers and other benefits of the program. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements.
Oct 23, 2016, 7:38 pm
#266
Join Date: Jun 2012
Posts: 3,380
but yeah... it's 20k minimum in any BOA/Merrill account to get lowest tier for BoA CC
it does say "qualifying Merrill Edge accounts", but i think my IRA counted towards the minimum
Oct 23, 2016, 8:46 pm
#267
Join Date: Jul 2016
Location: SAN
Posts: 29
Yes, we receive it each month. The bonus points all post in one shot on the last day of the month on the business card. There also is a full page (last page of the statement) each month reminding us to spend so we get the bonus.
Oct 25, 2016, 4:30 pm
#269
Join Date: Jun 2012
Posts: 3,380
BoA does combine apps on single day for 1 hard pull, try?
https://www.reddit.com/r/churning/co..._cash_rewards/
looks like people have multiple cash rewards cards, so I guess multiple TR cards is possible.
just don't be this guy-> https://www.reddit.com/r/churning/co...from_24_cards/
(boa isn't as generous with CLs like amex/chase/citi) https://www.reddit.com/r/churning/co...cards/d7os0hx/
Oct 27, 2016, 11:37 am
#270
Join Date: Dec 2010
Location: Long Beach
Programs: HHonors Diamond, Hyatt Diamond
Posts: 1,171
not sure if this is worth (potentially) burning a bridge via MS.... your 100k might get frozen for a while, and 2.625% is pretty good, and boa is a nationwide bank with unique partners (cough alaska, even though they might not appeal to you)
BoA does combine apps on single day for 1 hard pull, try?
https://www.reddit.com/r/churning/co..._cash_rewards/
looks like people have multiple cash rewards cards, so I guess multiple TR cards is possible.
just don't be this guy-> https://www.reddit.com/r/churning/co...from_24_cards/
(boa isn't as generous with CLs like amex/chase/citi) https://www.reddit.com/r/churning/co...cards/d7os0hx/
BoA does combine apps on single day for 1 hard pull, try?
https://www.reddit.com/r/churning/co..._cash_rewards/
looks like people have multiple cash rewards cards, so I guess multiple TR cards is possible.
just don't be this guy-> https://www.reddit.com/r/churning/co...from_24_cards/
(boa isn't as generous with CLs like amex/chase/citi) https://www.reddit.com/r/churning/co...cards/d7os0hx/