quietdesperation

I received the card and transferred some securities to merrill edge to capture the bonus points and brokerage bonus. Unfortunately, the calculation of the bonus seems tied to the three month avg of my assets at edge. Had I known in advance, I'd have waited until month three to complete spending requirements.

MisterBill

Yes, that's how BofA works with this card and the Travel Rewards card. The bonus is calculated when the purchase is made and your Preferred Rewards tier is based on a 3 month average (based on balances at the beginning of the month). I'd be surprised if that hasn't been mentioned here, but there's probably a lot of info here to digest.

On the Cash Rewards card the bonus is calculated when you cash out.

dinkoh

Just an update on this issue, which others may find helpful.

Apparently the problem was that I used a "ShopSafe" number to re-apply for Global Entry. Visa, which is the actual company that provides the benefit, couldn't link the BOA Premium Rewards card to the benefit. So, BOA had to specific request Visa to look into it. I still haven't gotten my credit yet, but BOA says it shouldn't be an issue after Visa makes the connection.

Lesson is don't use ShopSafe for the global entry fee or perhaps the incidental airline credit.

*** Finally got refund $100 before the year's end. ***

DeltaNeutral28

Same. Opened account mid November, assets in kind arrived late Nov. I guess March 1 is the first day I'll be able to apply for credit card and get the associated perks ?

quietdesperation

I don't think so. I asked my onboarding specialist and he said the avg is calculated monthly and used this example:
end of month one: tier calculation is assets*.33
end of month two: assets*.66
end of month three: assets *1

so if you transferred $1mm, at end of month one your tier is based on $333k of assets

holyPockets

I started a Merrill Edge account in mid September, funding with $60k hoping that my running average after 1 month would be $20k—enough for Preferred Rewards Gold. It turns out that I didn't even get an invite to Preferred Rewards until December, with a running 3 month average of just under $50k (!) due to variances in transaction posting dates and account statement dates. It will be mid January before I qualify for Platinum.

Conclusion: Assume it will take a FULL three to months to get Preferred Rewards perks for new account holders.

MisterBill

Does that also mean not to use something like Samsung Pay, which uses a different card number than the one on the card? It's rather odd that they care about the card number used for the transaction rather than just seeing it posted to your account!

DeltaNeutral28

I can add a confirm to this information. BofA will not calculate your balance until the FULL 90 days after account opening is up. I suspect I will call back in once my account has been opened for 91 days as this was advised over the phone from a BofA rep.

cdog999

So, I applied for BofA Premium Reward and was immediately approved last month. This month applied for wife and application went pending. Its 3 days later and its still pending. Any recent experiences on pending applications? She hates calling recon lines with a passion so will just wait it out if that's the best option. Was hoping there was a chat option like Discover does but I can't seem to find any.

MisterBill

What are you going to call about? The system only seems to update at the beginning of the month once ME statements have closed and the level is based on the account balance at that time. The whole thing is automated and seems to work. Do you think you can get someone to manually change it for you?

Also, as I've previously stated, my daughter opened accounts at the end of September and qualified for the PR program at the beginning of December, so it's 3 statement cycles, not 90 days. However, it was only showing 1/3 of her current balances for the status level because her assets from Capital One did not make it to ME until after the October statement closed. When she checked again a few days ago, she was up to 2/3 of the amount.

DeltaNeutral28

More or less. I haven't even opened the checking account that I need associated with my brokerage account. I'll do that probably when my 90 days are up in mid to late Feb. I'll probably apply for the card a few days after that. By the time the card gets to me, I may have to wait a few days to the beginning of March when my 3 statement balance average kicks in to associate with the perks (2.625% anywhere/3.5% dining-travel) of the card. With 90 days to hit the initial spend, I can sacrifice a few of them.

SpeedRicer

Has anyone gotten any details of the rental car insurance (e.g. maximum amount, excluded car classes, etc.)? I just know it's secondary insurance, but haven't found any terms online with more information...

Thanks!

SpeedRicer

Following up on my question, as I just got the benefits guide. Basically, it's the standard Visa insurance (i.e. covered for rentals up to 15 days in home country, 31 days outside; "exotic" vehicles excluded but no specific dollar amount given).

Same terms as here:
https://usa.visa.com/dam/VCOM/downlo...rental_cdw.pdf

Eujeanie

Clicked on the Offer, used the BofA card to pay for it long before the offer expired (my Alaska Airlines Visa, not sure if that's relevant).

It was to pay an AT&T cell phone bill in a month where we added a line. Just happened to be last month.

When it did not appear on my cc statement, I called BofA and they said "oh, that will come off your next AT&T bill". Next AT&T bill appeared today - no discount.

What recourse do I have to track down this promised $50?

hi55us

Just got the card in the mail, looks like they picked the cheapest plastic available, far worse than any other card in my wallet...

On a positive note, looks like it's pin-enabled, which is a huge plus for me and will make it my go-to card overseas especially with no ftf.