Hey Everyone,

I recently was looking at over one of my creditcard statements and found a great bonus for those who open checking accounts. Bank Of America currently lets new members open checking and savings accounts with funds from a credit card via the phone. In addition to this several codes floating around the internet such as 100MYA give a $100 bonus as well.

From my experience with an unnamed credit card company with a blue square logo from NYC I was credited United miles even though my card statement read "BOA New Account funding". Whats even easier is that you can link your new checking or savings to your credit card and pay it off online the very next day.

So with this information in mind have it at and hopefully someone from FT will be the next pudding man on this discovery.

If you goto Fatwallet.com this has been discuessed to death. If you got them to allow you charge $5K congrats. If you read the terms of service from BOA web page it states you can only charge the min opening balance to a credit which for all checking accounts is $25 or $100 depending on which checking account and either $50, $100 or $1000 for money market and savings account. Also you can only open 1 account every 90 days with a credit card.

Some credit issuers will charge you as a cash advance while other will count it as purchase and even between issuers some cards will count it as cash advance while other cards from same issuer will count it as purchase.

Also BOA does not take Amex so I dont know how your going to get starwood points either.

well and your point is?

This has never stopped a subject from being discussed on FT before.

Hey, we beat dead horses so much here that I am scared that the ASPCA is not coming after us.

Where'd the hostility come from? He was just pointing you in a direction you could learn more about this.

Sorry I wasnt aware this wasnt a new finding. As for a maximum on the account I was able to charge $700 and didnt pay a cash advance fee and got all the points for it. I was simply pointing out my experience that no cash advance fee was charged and its an easy way for anyone on FT to rack up a few thousand miles easily.

My point was not sure how the OP was able to charge $5K when he opened a new account. Also between issuers and cards from each issuers there is no pattern for why some are classified as cash advance vs purchase. And BOA does not take Amex.

So yea if you open Cash Maximizer account which is $1K min opening balance which is the largest amount you can charge to your credit card I guess in theory you could rack up 4K miles a year. If you happen to get lucky and your charges are classified as "Purchases" always. Problem is you can open 3 accounts using the same card. And for no apparent reason all of a sudden your third charge get classified as Cash Advance for no apparent reason.

Btw Citibank, Chase, Wachovia and Wells Fargo all allow you to charge the min opening balance to credit card which depending on the bank is up to $1K. Some of the smaller credit union also let you charge the min balance to a credit card.

On Fatwallet you will see a post from someone who opened an account online and how there charge was charged as a purchase and then you will get 20 other people who did the same thing and always 1-2 people will report there card was charged as "Cash Advance". No one on there has been able to figure out why as it could even be the same card issuer and card type even as the OP who was charged as "Purchase".

The rep I spoke to when I opened the account said that you could open with a maximum of 5k on a credit card. I was told by a csr that "anything after 5k starts to get looked at individually" It seems like there are various conflicting answers on this topic so like everything else on ft your milage may vary. I was simply reporting that Chase currently treats a new account opening as a purchase and not a cash advance. While this isnt like postal money orders and british airlines its a great way to top off a few thosand points/miles rather quickly.