CashRewards -> Better Balance Rewards

CreditUnionFan · ‎01-22-2015

I schlepped up to the branch, and figured while I was there I'd ask about the ability to do a PC.

The representative says that you can't PC from Cash Rewards over to Better Balance Rewards, saying that you have to keep MCs as MC and can't switch to Visa. Not a fan of the bogus answer, and would've rather been told it was a new policy.

Then she adds that in order to get the $25+$5 per bonus, she says you can't pay the previous balane in full. I asked about making monthly purchases of say $40 per month, and of course $40 is more than the $25. She says every month you have to have a balance. I said that'd be fine with me for a bunch of recurring charges and I just want to keep the account active since it's 15 years old, with a really small limit. She says if the statement is $40, and I make another $40 in purchases, that paying $40 would defeat the purpose of the quarterly bonus because I'm not paying interest. I can't find anywhere in the terms and conditions where it says you have to pay interest, only that you have to have a balance, and you have to pay more than the minimum every month.

Has anyone tried this - what did you find was the minimum spend in order to trigger the $25+$5 benefit from BBR?

Has anyone tried to see if the BoA policy preventing conversions is air tight, or if exceptions can be made?

I don't think it's worth the HP in order to get the BBR, given no sign-up bonus and the runaround on what earns the quarterly credit/rebate. I had thought that this pathetic 15-year card with a $500 CL would be just perfect as BBR, give me the excuse to use it to keep it active.

Thoughts?

I was going to garden... Honest!

uswala · ‎01-22-2015

My wife got her BBR in November. She charged only $20 on it in one transaction and paid $15 even before the statement was cut. On her statememnt she had $5 balance which she paid the next day after generation of the statement. And they already gave her $25+$5 bonus for the last quarter of 2014. So, there is nothing like paying interest to get bonus.

Anonymous · ‎01-22-2015

@CreditUnionFan wrote:
I schlepped up to the branch, and figured while I was there I'd ask about the ability to do a PC.

The representative says that you can't PC from Cash Rewards over to Better Balance Rewards, saying that you have to keep MCs as MC and can't switch to Visa. Not a fan of the bogus answer, and would've rather been told it was a new policy.

Then she adds that in order to get the $25+$5 per bonus, she says you can't pay the previous balane in full. I asked about making monthly purchases of say $40 per month, and of course $40 is more than the $25. She says every month you have to have a balance. I said that'd be fine with me for a bunch of recurring charges and I just want to keep the account active since it's 15 years old, with a really small limit. She says if the statement is $40, and I make another $40 in purchases, that paying $40 would defeat the purpose of the quarterly bonus because I'm not paying interest. I can't find anywhere in the terms and conditions where it says you have to pay interest, only that you have to have a balance, and you have to pay more than the minimum every month.

Has anyone tried this - what did you find was the minimum spend in order to trigger the $25+$5 benefit from BBR?

Has anyone tried to see if the BoA policy preventing conversions is air tight, or if exceptions can be made?

I don't think it's worth the HP in order to get the BBR, given no sign-up bonus and the runaround on what earns the quarterly credit/rebate. I had thought that this pathetic 15-year card with a $500 CL would be just perfect as BBR, give me the excuse to use it to keep it active.

Thoughts?

So pay $39.99

Does the card have a minimum interest charge?

FinStar · ‎01-22-2015

@CreditUnionFan wrote:
I schlepped up to the branch, and figured while I was there I'd ask about the ability to do a PC.

The representative says that you can't PC from Cash Rewards over to Better Balance Rewards, saying that you have to keep MCs as MC and can't switch to Visa. Not a fan of the bogus answer, and would've rather been told it was a new policy.

Then she adds that in order to get the $25+$5 per bonus, she says you can't pay the previous balane in full. I asked about making monthly purchases of say $40 per month, and of course $40 is more than the $25. She says every month you have to have a balance. I said that'd be fine with me for a bunch of recurring charges and I just want to keep the account active since it's 15 years old, with a really small limit. She says if the statement is $40, and I make another $40 in purchases, that paying $40 would defeat the purpose of the quarterly bonus because I'm not paying interest. I can't find anywhere in the terms and conditions where it says you have to pay interest, only that you have to have a balance, and you have to pay more than the minimum every month.

Has anyone tried this - what did you find was the minimum spend in order to trigger the $25+$5 benefit from BBR?

Has anyone tried to see if the BoA policy preventing conversions is air tight, or if exceptions can be made?

I don't think it's worth the HP in order to get the BBR, given no sign-up bonus and the runaround on what earns the quarterly credit/rebate. I had thought that this pathetic 15-year card with a $500 CL would be just perfect as BBR, give me the excuse to use it to keep it active.

Thoughts?

Their PC policy to the BBR card was tightened during November. Some folks may be able to squeeze through the restriction but the success rate is fairly low. If you have plenty of time to visit the branch or contact them/escalate to EO, you can try that route just don't expect much success. The only exceptions I've seen recently is for clients who tend to have substantial depository relationships with BoA/Merrill/Fidelity...YEMV.

Anonymous · ‎01-22-2015

As long as your statement cuts with a balance and you pay it off next month, you'll get the money.

For example, one could schedule a netflix monthly subscription and autopay and never look at it again. It is important to select that the rewards are deposited in your checking account. Otherwise when the statement credit posts your card might cut with a negative balance (if you are like me and make $4 charges every month), disqualifying you for that quarter.

Anonymous · ‎01-22-2015

If you are able to switch, then you are not required to pay interest in order to get the bonus. You do have to have a balance when the statement closes every month, but there is no minimum and you can pay in full. You could charge $1 every month, pay in full (after the statement closes), and collect the bonus every three months.

The hard part is changing your card. I had to keep calling back and going into the branch. I actually though that they did it about two weeks ago, but when I called the other day, I was told that the CSR forgot to submit the paperwork. So hopefully I'll get my card in the next few weeks. Good luck trying to change! Let us know what happens.

cjc343 · ‎01-22-2015

@Anonymous wrote:
@CreditUnionFan wrote:

Then she adds that in order to get the $25+$5 per bonus, she says you can't pay the previous balane in full. I asked about making monthly purchases of say $40 per month, and of course $40 is more than the $25. She says every month you have to have a balance. I said that'd be fine with me for a bunch of recurring charges and I just want to keep the account active since it's 15 years old, with a really small limit. She says if the statement is $40, and I make another $40 in purchases, that paying $40 would defeat the purpose of the quarterly bonus because I'm not paying interest. I can't find anywhere in the terms and conditions where it says you have to pay interest, only that you have to have a balance, and you have to pay more than the minimum every month.

Has anyone tried this - what did you find was the minimum spend in order to trigger the $25+$5 benefit from BBR?
So pay $39.99

Does the card have a minimum interest charge?

I have the card.

I make one charge per statement. The charge is typically < $10, leaving my statement balance and minimum payment equal.

I pay the statement balance in full. I have received a number of $30 quarterly bonuses now.

kdm31091 · ‎01-22-2015

Agree that I haven't heard of almost anyone being succesful with a PC to this card, they seem to have shut it down for PCing. Maybe you can get the right person in EO and get it done.