md80only

I got a notice that BOA is making this change in October. My BOA Amex was getting 1.25 points on every purchase, redeemable at 1 point = $.01. I haven't used it in a while because of the BOA TR card being 1.5 points. I actually had called BOA hoping to change my Amex to a CR option and they said no. So I am really glad to see this.

I will then have 6 CR-type cards from BOA, so I can do $15k in category spend each quarter. That is huge.

The 5.25% is practically unbeatable. The only thing I won't put on a BOA CR-type card is 1) flights (will purchase through Chase UR portal on Freedom Unlimited and get 7.5% because I have Reserve, 2) internet/phone bills (Chase Ink 7.5% because of Reserve), and non category spend which will go on the BOA TR at 2.625%.

I sometimes feel like I am the only one using BOA as my primary option lol.

paperwastage

In that case, why do you even have the reserve then? It will be a net +$200 fee now, do the benefits cover it (door dash/priority pass, earn enough points every year to make the 50% bonus worth it

(I still put my flights on a card with trip delay.... Don't like buying flights via travel agencies and prefer the trip delay protection)

jalm1

Got the same notice. My question will be how long will i need to wait till i can product change to one of the CR cards? Mine is being converted into the new 1.5% cash card without the 3% categories.

Nick92

Any options to stay with American Express? I have the 1.5 version. What's happening with Accolades and Octave?

Joe1690

Just to confirm your Accelerated Rewards American Express card is being converted to a Bank of America Customized Cash Rewards card? I received notification that my Bank of America Accelerated Rewards American Express card was being converted to the new Unlimited Cash Rewards card which earns 1.5% cash back on all purchases and not the Customized Cash Rewards card. I would prefer the customized Cash Rewards card.

Nick92

Yes, they are converting into one of those two account types. But after the conversion is complete you should be able to product change to anything they offer.

md80only

I spend about $20,000 on travel a year. $15,000 is work, $5,000 personal. The work I put on the Freedom Unlimited referenced earlier because I don't need the travel insurance. Personal, yes, I love the CSR protections. So that $15,000 in travel would be worth $450 on Freedom Unlimited alone (3 points per dollar spent) but because I transfer them to CSR they are worth $625, so the $200 is covered right there. I also put about $3,600 on my Ink card for 5% back on internet/phone which would be $180 but is $270 with CSR. So that knocks $90 off the $200 itself. So I had been figuring that the Priority Pass is wroth $110 on it's own to me, and the travel insurance $110 is a small price to pay for that for a whole year. But, overall the CSR pays for itself in the 50% bump on points I earn.

Before BOA TR at 2.625% I used to put generic spend on FU at 1.5 with the 50% kicker to 2.25%, but the BOA family just can't be beat if you can get Preferred Rewards.

And to the other question someone asked, yes, my Amex BOA card is going to a Customized Cash Rewards, not Unlimited Cash Rewards. I do hope to product change my TR to an Unlimited Cash Rewards.

Nick92

My new Unlimited Cash Rewards card came with a special offer for $200 in bonus cash after spending $1000. That was a nice surprise.