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Established Contributor
Posts: 772
Registered: ‎01-03-2012
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BoA Travel Rewards Upgrade Offer?

[ Edited ]

Just received an upgrade offer in the mail.  

 

Currently have the BoA Platinum Visa with a $7200 CL and fixed 9.9% APR.  I occasionally get 0% BT offers on this card, so I like it for that reason - otherwise, meh...

 

The new offer is to upgrade to the "BankAmericard Travel Rewards Visa Signature" (no AF).  New card will offer 1.5 points for every $1 spent, and I could also get an extra 10% points bonus with a BoA checking account (don't have, and no wish to get one).

 

Mailer says that I will get the new card with the same terms/conditions as my current card, but I'm not sure if I even want it.  Would it really be better than what I've already got?  Positives of the signature card are that the limit is no longer pre-set, correct?  And this will change the way it is reported to the CRA, i.e. will it affect my utilization?

 

Help me decide, friends...  :smileywink:

 

Oops!  ETA:  The new card will have the EMV chip, apparently.  I'm planning on taking my big "out of the country" reward to self trip next summer after I finish my grad degree, and this would be a nice card to have. :smileyhappy: 


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Valued Contributor
Posts: 2,505
Registered: ‎11-11-2010
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Re: BoA Travel Rewards Upgrade Offer?

BofA does not report CL for its NPSL card. Travel Rewards does not charge FTF, unlike 3% commonly charged by other card.

 

I think you should get this card.

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Super Contributor
Posts: 6,596
Registered: ‎04-07-2008
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Re: BoA Travel Rewards Upgrade Offer?

My BOA Travel Rewards card doesn't report my CL. No FTF

 

Great card if you don't mind losing the CL of your Platinum in your total util calculation.




Established Contributor
Posts: 772
Registered: ‎01-03-2012
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Re: BoA Travel Rewards Upgrade Offer?

[ Edited ]

CS800 wrote:

My BOA Travel Rewards card doesn't report my CL. No FTF

 

Great card if you don't mind losing the CL of your Platinum in your total util calculation.


So, just to clarify...

 

If I PC to this card it will show my current balance on my credit reports, but like my NPSL Amex Green card the balance will not be factored into my overall utilization (except for TU98) because it will not show a credit limit?

 

Hehehe...

 

I've got until the end of October to do this, so I may go ahead and transfer all of my remaining CC balance to this card at 0% (available until 6/13), then do the PC. That would still give me 9 months at 0% to pay everything off, and will instantly put me at around 1% utilization. Sound like a good plan? :smileywink::smileyvery-happy:

 

Edit: Can't spell


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Valued Contributor
Posts: 2,111
Registered: ‎07-29-2011
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Re: BoA Travel Rewards Upgrade Offer?

The same 0% BT offers apply to the Travel Rewards card too.  I get them all the time, and its all over the webpage, but I haven't used it.  I don't have any balances accruing interest that I need to transfer.  I think they charge a balance transfer fee for this too.

 

But yes, the Travel Rewards is a far better card for travelling considering the 0% ForEx fee.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Established Contributor
Posts: 772
Registered: ‎01-03-2012
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Re: BoA Travel Rewards Upgrade Offer?


DaveSignal wrote:

The same 0% BT offers apply to the Travel Rewards card too.  I get them all the time, and its all over the webpage, but I haven't used it.  I don't have any balances accruing interest that I need to transfer.  I think they charge a balance transfer fee for this too.

 

But yes, the Travel Rewards is a far better card for travelling considering the 0% ForEx fee.


Thanks, Dave.

 

Can you confirm that the overall balance is not factored into your utilization, as well?   Please tell me yes... :smileyhappy:

 

If so, then that's awesome.  Almost like a hidden tradeline, and with periodic 0% offers in the future then it's all good. 

 

And I could really take advantage of the 0% Foreign Exchange fee, too.

 

Lots to like here, as long as the utilization issue is a non-factor...


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Frequent Contributor
Posts: 263
Registered: ‎08-14-2011
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Re: BoA Travel Rewards Upgrade Offer?


TNTransplant wrote:

DaveSignal wrote:

The same 0% BT offers apply to the Travel Rewards card too.  I get them all the time, and its all over the webpage, but I haven't used it.  I don't have any balances accruing interest that I need to transfer.  I think they charge a balance transfer fee for this too.

 

But yes, the Travel Rewards is a far better card for travelling considering the 0% ForEx fee.


Thanks, Dave.

 

Can you confirm that the overall balance is not factored into your utilization, as well?   Please tell me yes... :smileyhappy:

 

If so, then that's awesome.  Almost like a hidden tradeline, and with periodic 0% offers in the future then it's all good. 

 

And I could really take advantage of the 0% Foreign Exchange fee, too.

 

Lots to like here, as long as the utilization issue is a non-factor...


The Signature Visa uses your highest reported balance in calculating your utilization.  

 

For example, I have a 17k limit on my Sig Visa.  But that isn't what reports.  My highest balance of $5k is what they use to calculate my Utilization. 

 

I.E if you transfer balances to a new Signature Visa, that balance would then be the highest reported balance and your utilization on that card would be 100%.

 

 

bobebob || Nov: My FICO SW EQ(Upgraded Version) = 822 ||Sept: Walmart TU Fico=838Goal = FICO's>800 || In my wallet: CostcoAmEx(20k), DCU Visa Platinum (10k), BoA Visa Signature (17.1k), Walmart Discover (7.5k), AmEx Corporate (5k). All PIF every month.
Established Contributor
Posts: 772
Registered: ‎01-03-2012
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Re: BoA Travel Rewards Upgrade Offer?

[ Edited ]

Ok, now I'm confused.  More questions to come for bobebob...

 

Starting a new thread, as it may be easier to get new/additional input.


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Valued Contributor
Posts: 2,111
Registered: ‎07-29-2011
0

Re: BoA Travel Rewards Upgrade Offer?


TNTransplant wrote:

DaveSignal wrote:

The same 0% BT offers apply to the Travel Rewards card too.  I get them all the time, and its all over the webpage, but I haven't used it.  I don't have any balances accruing interest that I need to transfer.  I think they charge a balance transfer fee for this too.

 

But yes, the Travel Rewards is a far better card for travelling considering the 0% ForEx fee.


Thanks, Dave.

 

Can you confirm that the overall balance is not factored into your utilization, as well?   Please tell me yes... :smileyhappy:

 

If so, then that's awesome.  Almost like a hidden tradeline, and with periodic 0% offers in the future then it's all good. 

 

And I could really take advantage of the 0% Foreign Exchange fee, too.

 

Lots to like here, as long as the utilization issue is a non-factor...


My card is not a signature visa, so it reports just like any other visa and is factored into utilization.  Both statement balance and total credit limit report.

The 0% ForEx is great.  The EMV is not implemented perfectly, as it is chip-abd-signature, which negates many of the benefits of having an EMV chip in the first place (you might as well just swipe the card since the same outcome will result), but this is how nearly all US banks have chosen to implement EMV.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
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