topic Re: What kind of charges count for (BOA) Cash Rewards? in Credit Cards

What kind of charges count for (BOA) Cash Rewards?

Anonymous — Sun, 30 Sep 2018 19:53:43 GMT

I've never had a rewards card before. I just got the BOA Cash Rewards, and if I spend $500 I get a $200 credit. Lucky me, my alternator just started to whine ever to quietly in my vehicle. If I put the repair on the card instead of paying cash, will that count towards the $500? I don't know what category garage bills come under.

Thanks.

Re: What kind of charges count for (BOA) Cash Rewards?

Anonymous — Sun, 30 Sep 2018 20:06:40 GMT

@Anonymous wrote:
I've never had a rewards card before. I just got the BOA Cash Rewards, and if I spend $500 I get a $200 credit. Lucky me, my alternator just started to whine ever to quietly in my vehicle. If I put the repair on the card instead of paying cash, will that count towards the $500? I don't know what category garage bills come under.

Thanks.

Yes, if you put the repair on your Cash Rewards card it will count towards the $500 bonus spend. It will fall in the "Other" category meaning you will get 1% cash back as soon as the charge appears on your bill.

Re: What kind of charges count for (BOA) Cash Rewards?

Anonymous — Sun, 30 Sep 2018 20:23:04 GMT

Thank you.

I've been trying to figure this out because I got the Discover It for the 5% categories and the BOA for the 3% gas and 2% groceries. I haven't used the BOA, but Discover counts every trip to Walmart as "merchandise" even though it's the Walmart Neighborhood Market, which is mostly groceries. It counts Target purchases as "groceries", though.

And then I PC'ed my Cap1 platinum to Quicksilver for rewards, and it categorized a purchase from "Ross Dress for Less" as "groceries." Lol. Ross is like a (more) budget Marshall's, and my DD wanted a little top from there.

I don't mind those two cards, but if BOA counts everything from the Neighborhood Market as merchandise, that will be a bummer because I got it for grocery (and gas) spending.

Re: What kind of charges count for (BOA) Cash Rewards?

601flyguy — Sun, 30 Sep 2018 21:09:47 GMT

BOA doesnt determine how the transaction codes, it depends which payment network is used.

Discover codes Walmart as merchandise
Amex codes as discount store
Visa codes as groceries
MasterCard codes as groceries

Re: What kind of charges count for (BOA) Cash Rewards?

Anonymous — Sun, 30 Sep 2018 21:32:05 GMT

Oh wow. I had no idea that's how it worked. Well, since my BOA is MC then it should work out for the gas and groceries. I haven't had credit cards in two decades and it's taking some getting used to choosing which card to use when, but I'll get the hang of it.

Re: What kind of charges count for (BOA) Cash Rewards?

AverageJoesCredit — Sun, 30 Sep 2018 21:56:59 GMT

If the repair charge helps fulfill your SUB all the better. Say your repair is $500 , you are essentially only pauing $300, very nice help imo

Re: What kind of charges count for (BOA) Cash Rewards?

Anonymous — Sun, 30 Sep 2018 22:05:49 GMT

And you are exactly right. I was bummed about spending $500 for a new alternator, and then I suddenly remembered the $200 cashback from BOA, so that's why I asked here. I'm going to look at it just as you said: $200 towards my repair bill.

Re: What kind of charges count for (BOA) Cash Rewards?

DaveInAZ — Sun, 30 Sep 2018 23:00:32 GMT

@601flyguy wrote:
BOA doesnt determine how the transaction codes, it depends which payment network is used.

Discover codes Walmart as merchandise
Amex codes as discount store
Visa codes as groceries
MasterCard codes as groceries

Correct for Discover & Amex, but for Visa different Walmart stores can code differently. For Visa there's a Visa Supplier Locator that will tell you how a merchant in a zip code area codes. Here's how some Walmarts in Tucson AZ code:

WALMART NEIGHBORHOOD MARKET #3357

3925 E GRANT RD, TUCSON, AZ
Industry/MCC
GROCERY STORES/ SUPERMARKETS/ BAKERIES - 5411

WALMART #1291

7150 E SPEEDWAY BLVD, TUCSON, AZ
Industry/MCC
DISCOUNT STORES/ WAREHOUSE/ WHOLESALE - 5310

WALMART #1325

455 E WETMORE RD, TUCSON, AZ
Industry/MCC
DISCOUNT STORES/ WAREHOUSE/ WHOLESALE - 5310

WALMART SUPERCENTER #3807

201 S PRICKLY PEAR AVE, BENSON, AZ
Industry/MCC
GROCERY STORES/ SUPERMARKETS/ BAKERIES - 5411

So, it depends on the Walmart, my local Walmart is the last one and even though labled as a "Super Center" it codes as grocery for any of my Visa cards, and also codes as grocery on my Barclays Rewards MC.

And yes, Homemaker, any purchase will count towards you BoA Cash Rewards new card bonus, the difference is whether it will also get you 3% rewards for a gas purchase (tip: any purchase at a convenience store that sells gas codes as "gas"), 2% for groceries, or 1% everything else. I recently got a Savor One card that gets 3% rewards on restaurants & entertainment and 2% on groceries, but for the $150 new card bonus I'm going to use it for filling my house propane tank that cost's around $600. (rural property)

One last thing: shop around for a repair shop, $500 for an alternator is too much - the alternator & install should only be around $200-300.

Re: What kind of charges count for (BOA) Cash Rewards?

K-in-Boston — Sun, 30 Sep 2018 22:51:47 GMT

Thanks @DaveInAZ I was scrolling down to add that. Every business is set up individually with their own merchant processing accounts, and depending on how they are set up will determine how they code for rewards. Fortunately Visa has that handy tool so you can get an idea before making a purchase.

Re: What kind of charges count for (BOA) Cash Rewards?

Anonymous — Sun, 30 Sep 2018 23:28:08 GMT

DaveinAz,

Thanks for the information. I guess with Mastercard you just have to watch and see how they code.

(And I'm going to call around tomorrow to see if I can get a better price for the alternator repair.)

Re: What kind of charges count for (BOA) Cash Rewards?

K-in-Boston — Sun, 30 Sep 2018 23:39:47 GMT

@Anonymous wrote:
DaveinAz,

Thanks for the information. I guess with Mastercard you just have to watch and see how they code.

(And I'm going to call around tomorrow to see if I can get a better price for the alternator repair.)

Since merchant accounts are almost universally set up with Visa and MasterCard (and often Discover and increasingly Amex OptBlue for smaller retailers) at the same time, each individual merchant should be set up similarly. It may not be true in 100% of cases, but if your local quick service restaurant is set up as “fast food restaurant” on Visa they should also be set up as “fast food restaurant” on MasterCard and not as “restaurant.”

Re: What kind of charges count for (BOA) Cash Rewards?

Anonymous — Mon, 01 Oct 2018 00:34:56 GMT

K-I-B, Y'all are so helpful. I'll bookmark the Visa database and check for the stores I frequent. Thanks.