mikesyr18

If you've had and will keep 100k in either a Bank of America or ML account, you'll be able to get the 75% bonus.

silentbob1974

Thanks -- if I understand you correctly, it's possible either to (1) be a Platinum Honors member of the Preferred Rewards program with solely 100K in a ML account but no BofA checking account, or (2) link your Premium Rewards card account with the ML brokerage account in a way that allows you to get the 75% bonus?

mikesyr18

Your ML accounts link up to your BoA profile when you create a checking account at BoA; thus, you'll have 100k in deposits despite the fact that there's no money in your BoA checking account.

To answer question #1 - yes, you can be a Platinum Honors member if you have a Bank of America credit card and 100K in a ML account. You can redeem your rewards into a Merrill Lynch CMA with a 10% bonus, even if you aren't a PR customer.

I have a Bank of America credit card and a ML CMA, and I receive a credit card bonus because anything in ML is considered "deposits held at BoA" if you have an account with both.

silentbob1974

In an ideal world, I'd love to get the 75% credit card bonus without having to open a BofA checking account, but based on an online chat just now, the CSR insisted that my Merrill Lynch assets weren't enough on their own and I also needed a BofA checking account get the bonus. Unfortunately, there aren't any publicly available BofA checking promotions right now.

NYCFlyer10001

Yes, you must have a BoA checking account to get any benefits at all from PR. There are no balance requirements once you have gained PR, but you are required to have it to qualify.

Superorb

BOA checking accounts are fee free with no minimums once you get any Preferred status level. Just park $10 in there so you can get the CC and the rest of the perks.

Superorb

I made a payment 8 days ago and I'm still seeing a payment hold for the amount. this is a new card and my first payment. how long does it normally take to clear the hold? Cash was pulled from my checking account 8 days ago already.

nall

Do you have to enroll for preferred status to take effect?

Need

I see the payment cleared on both the credit card and checking sides the next day after I paid. Did you pay before your statement close?

MisterBill

Yes. Once you qualify there will be a link to enroll when you login.

Superorb

Yes, about 2 weeks before statement closing. Called today and after 3 transfers they said all new accounts put a hold on large 1st payments for 7-10 days till they can learn your use pattern is what she said.

abk

I am looking at this card and right now I am seeing a 50,000 point bonus. Is this typical or does it sometimes get better or worse?

MisterBill

I think that's what it has been since the start. Is $500 not enough to convince you to get a $95 card (and free if you have incidental airline charges).

Dovster

It is a very good deal even without incidental airline charges.

Refunds for those charges are only available for flights originating in the US on specified U.S. flagged airlines. I will never make such a flight. I will also never bother getting GE or Pre-check, so those benefits don't help me.

In general, I prefer spending shekels when I am in Israel. I tend to use my American credit cards only if I am out of the country or buying something from the States on the internet. The reason is simple: U.S. law has made it too difficult for American citizens (even dual citizens like myself) to have investment accounts overseas. The banks and brokerages here don't want the paperwork and refuse these accounts. As I have income both from the States and in Israel, I tend to use my American dollars for investments and my shekels for day to day living.

This month, having gotten the BoA Premium Rewards card, I changed my spending patterns and put everything on the card. I reached the $3000 and got the 50,000 points. In addition, I earned 5000 points for the purchases and was able to transfer 11,000 points from other BoA cards which would otherwise have been orphaned. This gives me a total of 66,000 points ($660). That is certainly worth the $95 fee I paid for this year. Whether or not I will keep the card after this year depends on how much my children will be traveling (I probably won't be flying anywhere in the next year because of a leg problem).

I have a good friend in the States who flies quite a bit, including internationally. I am giving her my card number so that she can get the GE benefit.

MisterBill

You could do the same for the incidental credit. Or buy an AA gift card or something else that works reliably and give it to someone.