topic Re: What to do with BofA 3-2-1? in Credit Cards

What to do with BofA 3-2-1?

Anonymous — Fri, 14 Apr 2017 00:28:01 GMT

Got this card because 3% for gas is good but now I have other cards that do that and the main perk was the sign up bonus $125 for $500 last year.

Should/can I PC it? If so any suggestions?

Re: What to do with BofA 3-2-1?

AverageJoesCredit — Fri, 14 Apr 2017 00:34:19 GMT

Why not keep it. Boa can be awesome on cli when approved. They really make using a hp worth doing in my humble opinion

Re: What to do with BofA 3-2-1?

Anonymous — Fri, 14 Apr 2017 00:38:28 GMT

I plan on closing mine soon. No point to that card for me..

Re: What to do with BofA 3-2-1?

Credit_hawk — Fri, 14 Apr 2017 01:05:00 GMT

BOA has treated me well. I use them the most out of all my cards. I've got many more "rewarding" cards but theyve never screwed me so I spend with them the most.

Re: What to do with BofA 3-2-1?

Anonymous — Fri, 14 Apr 2017 01:08:58 GMT

I mean isn't there something I could PC to that would be more beneficial? I spend probably $50 - $100 a month on it. BBR gives you $25 a month no?

Re: What to do with BofA 3-2-1?

Anonymous — Fri, 14 Apr 2017 01:08:59 GMT

BofA at this point really does not have anything to PC this card into unless you want the Travel Rewards card. It may be worth a try to see if they will PC it to Better Balance Rewards. Some of us have had luck with the PC but most are told "no." Otherwise, if the card is no longer worth while to you, you may as well close it.

I really like BofA but agree that there are better cash back cards out there. Since I have a BofA checking account, I get the extra 10% redemption bonus so it makes this card a 1.1% 2.2% and 3.3% card for me which ups the ante a little bit.

Re: What to do with BofA 3-2-1?

Anonymous — Fri, 14 Apr 2017 01:10:34 GMT

@Anonymous wrote:
I mean isn't there something I could PC to that would be more beneficial? I spend probably $50 - $100 a month on it. BBR gives you $25 a month no?

BBR gives you $25 per quarter ($30 if you have a BofA checking or savings account). You may certainly try to PC to BBR, but most people report that BofA will not allow a PC to BBR.

Re: What to do with BofA 3-2-1?

Anonymous — Fri, 14 Apr 2017 01:10:18 GMT

CO - I previously had the checking with them so it was worthwhile but I closed it because of the service fees for less than 1.5k balance with them.

Re: What to do with BofA 3-2-1?

Anonymous — Fri, 14 Apr 2017 01:12:42 GMT

@Anonymous wrote:
CO - I previously had the checking with them so it was worthwhile but I closed it because of the service fees for less than 1.5k balance with them.

Totally understand. Another option would be to park $300 at a savings account with them. That would also give you the relationship bonus. 10% redemption on Cash Rewards and/or and extra $5 per quarter with BBR.

Re: What to do with BofA 3-2-1?

Anonymous — Fri, 14 Apr 2017 01:28:54 GMT

Completely forgot the savings was only $300 just opened the savings hopefully it makes the card worth it. Wish it worked the same way with business cards getting a 10% bonus too! Thanks

Re: What to do with BofA 3-2-1?

Anonymous — Fri, 14 Apr 2017 02:06:36 GMT

IMO, BofA cards (i.e. 3-2-1, travel rewards) are only worth it if you are a Preferred Rewards member, which would likely be achived through Merrill Edge. Otherwise, the baseline rewards are too low and the opportunity cost of parking ~$300 to get the 10% bonus is too high.

Re: What to do with BofA 3-2-1?

Anonymous — Fri, 14 Apr 2017 02:17:51 GMT

@Anonymous wrote:
IMO, BofA cards (i.e. 3-2-1, travel rewards) are only worth it if you are a Preferred Rewards member, which would likely be achived through Merrill Edge. Otherwise, the baseline rewards are too low and the opportunity cost of parking ~$300 to get the 10% bonus is too high.

Agreed. I'm Platinum so with my 50% bonus it's 4.5%, 3%, & 1.5% back on gas, groceries and regular spend respectively. Platinum Honors is where it's at though. Extra 75% back. My every day spending card is the 2% Fidelity Visa, however I have recently signed up for three cards within last 30 days. The Chase Sapphire Reserve (100k UR bonus), the Chase Freedom Unlimited ($150 or 15,000 UR bonus), the American Express SPG (35k SPG points bonus) so I've been meeting to spend requirement for the bonuses. I've met all the spending today however.

I still think BofA Cash Rewards is a great card for everyday people.