Apr 20, 2018, 10:05 am
BofA Premium Rewards card
May 18, 2018, 11:44 pm
#256
Join Date: Mar 2004
Posts: 470
I think the agent from BofA may have been wrong regarding when I will get the status. I just received an email from the Merrill agent who helped me set up my Merrill account. She told me that I should get status by July 1. Perhaps the BofA agent was thinking of the date for getting the $600 bonus for moving money to Merrill and not the preferred status that gives you higher cash back. Anyone know for sure?
May 19, 2018, 11:10 am
#257
Join Date: Sep 2007
Location: stl
Programs: AA LT Plat/8.1mm now with 1350 miles left in my account and proud of it.. SPG LT Titanium.
Posts: 3,079
I recently bumped up my BofA balances to qualify for Platinum Honors. I spoke with them on the phone and they were very good about explaining it to me and also telling me when they project that I would qualify. The average they use recalculates on the 4th business day of the new month. I watched it two months and it was spot on.
May 19, 2018, 12:44 pm
#258
Join Date: Mar 2004
Posts: 470
I recently bumped up my BofA balances to qualify for Platinum Honors. I spoke with them on the phone and they were very good about explaining it to me and also telling me when they project that I would qualify. The average they use recalculates on the 4th business day of the new month. I watched it two months and it was spot on.
May 19, 2018, 5:58 pm
#260
Join Date: Apr 2009
Posts: 681
Darn. Thanks for the clarity.
I think the agent from BofA may have been wrong regarding when I will get the status. I just received an email from the Merrill agent who helped me set up my Merrill account. She told me that I should get status by July 1. Perhaps the BofA agent was thinking of the date for getting the $600 bonus for moving money to Merrill and not the preferred status that gives you higher cash back. Anyone know for sure?
And why would you even think that the BofA rep would know anything about the Merrill Edge bonus?
May 19, 2018, 6:07 pm
#261
Join Date: Apr 2009
Posts: 681
I recently bumped up my BofA balances to qualify for Platinum Honors. I spoke with them on the phone and they were very good about explaining it to me and also telling me when they project that I would qualify. The average they use recalculates on the 4th business day of the new month. I watched it two months and it was spot on.
May 19, 2018, 10:14 pm
#262
Join Date: Jan 2003
Posts: 3,785
When you sign in, there should be a box toward the upper right side telling you your current preferred status. Next to it should be a link "My Summary". That link will show you your current average.
May 19, 2018, 10:59 pm
#263
Join Date: Mar 2004
Posts: 470
What are you looking for? Someone to tell you that the agent was right and I was wrong about when the bonus is credited for the Premium Reward card? Good luck finding that. Maybe you should call BofA back and get a different person and ask again.
And why would you even think that the BofA rep would know anything about the Merrill Edge bonus?
And why would you even think that the BofA rep would know anything about the Merrill Edge bonus?
May 20, 2018, 8:02 am
#264
Join Date: Nov 2014
Location: NYC
Posts: 557
The premium rewards card earns the extra points at the time of purchase, meaning you must have the tier you want at the time you make the purchase to get the bonus points.
There is another card BoA offers that is a 3-2-1 cashback card which gets a bonus applied to point redemption. For that card, it doesn't matter if you have the PR status when you make the purchase, because the bonus is applied is when you redeem.
For the card that is the subject of this thread, you will only earn the base points and no bonus until you are recognized with the PR tier you want.
Here is an image of the BoA site for the PR card:
and here is the same image for the cash back card:
You will see that there is no PR bonus mentioned on the cash rewards card - that is because I will instead get a bonus applied when I cash the rewards out for that card.
There is another card BoA offers that is a 3-2-1 cashback card which gets a bonus applied to point redemption. For that card, it doesn't matter if you have the PR status when you make the purchase, because the bonus is applied is when you redeem.
For the card that is the subject of this thread, you will only earn the base points and no bonus until you are recognized with the PR tier you want.
Here is an image of the BoA site for the PR card:
and here is the same image for the cash back card:
You will see that there is no PR bonus mentioned on the cash rewards card - that is because I will instead get a bonus applied when I cash the rewards out for that card.
May 20, 2018, 10:45 am
#265
Join Date: Sep 2003
Posts: 265
Sorry, did not mean to offend. I don’t care about the timing of the bonus, just that I eventually get it. My question is when will I have the top status so that I can get the top cash back on the credit card (2.62%). I’ve now been told two different things by BofA and Merrill about when that will happen. So, I’m looking for actual experience. It matters to me because I don’t want to get the credit card too much before I am in the top cash back bracket.
GlobalEntry takes 1 week to process pre-interview, and 1 week post-interview, but the wait for the interview itself can be months depending on your location. SFO wait time is up to 6 months. However, the trick is to schedule and then log in every night to reschedule and hope someone cancelled. I did this for a week and eventually got a date much closer.
Are you losing anything by waiting to get your card? I.e. if you only have a 1% card to use in the meantime, then getting 1.5-2% is still better.
May 20, 2018, 12:02 pm
#266
Join Date: Sep 2007
Location: stl
Programs: AA LT Plat/8.1mm now with 1350 miles left in my account and proud of it.. SPG LT Titanium.
Posts: 3,079
May 21, 2018, 10:10 pm
#267
Join Date: Mar 2004
Posts: 470
I believe that if you just opened your checking account, then you will have to wait the full 3 months. If you had one previously and just upped the balance (or opened a new ME account), overfunding by 3x will cut the wait time to 1/3.
GlobalEntry takes 1 week to process pre-interview, and 1 week post-interview, but the wait for the interview itself can be months depending on your location. SFO wait time is up to 6 months. However, the trick is to schedule and then log in every night to reschedule and hope someone cancelled. I did this for a week and eventually got a date much closer.
Are you losing anything by waiting to get your card? I.e. if you only have a 1% card to use in the meantime, then getting 1.5-2% is still better.
GlobalEntry takes 1 week to process pre-interview, and 1 week post-interview, but the wait for the interview itself can be months depending on your location. SFO wait time is up to 6 months. However, the trick is to schedule and then log in every night to reschedule and hope someone cancelled. I did this for a week and eventually got a date much closer.
Are you losing anything by waiting to get your card? I.e. if you only have a 1% card to use in the meantime, then getting 1.5-2% is still better.
May 22, 2018, 8:51 am
#268
Join Date: Oct 2011
Posts: 4,166
Anybody worried BOA will issue 1099-INT forms come tax time? I thought things like this were always considered rebates.
"The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward."
"The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward."
May 22, 2018, 10:16 am
#269
Join Date: Nov 2014
Location: NYC
Posts: 557
Anybody worried BOA will issue 1099-INT forms come tax time? I thought things like this were always considered rebates.
"The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward."
"The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward."