topic Re: Cashback limit rules from card to card in Credit Cards

Cashback limit rules from card to card

Yankee2 — Sat, 14 Mar 2020 15:47:16 GMT

Have a question regarding cash back limits from different cards.

I was told over the phone by Bank of America that their Cash Rewards 3% @$2,500 rule had a quirk that I wasn't aware of.

If you had $0 spent on the catagory for example but made a purchase of $3,000, you would not get 3% on the first $2,500 then 1% the last $500. You get 1% for the entire $3,000 since that one purchase exceeded the max limit.

I see this as they can't "split" your cash back rate on a single purchase.

I'm wondering now on my other cash back cards. (Discover, Chase) if they don't split either.... (for example I have $120 left of my Discover 5% catagory spend and if my next purchase was $150....)

Anyone know if they are all like Bank of America?

Re: Cashback limit rules from card to card

JNA1 — Sat, 14 Mar 2020 15:50:33 GMT

🤔 That’s good info to know, probably explains the residual 1% purchases I see some times on my capped cards.

Re: Cashback limit rules from card to card

Anonymous — Sat, 14 Mar 2020 15:53:59 GMT

Not sure how it works for Disco or Chase. Have you tried calling them?

Anyway, I'm sure someone will chime in knowing as there are many knowledgeable members here with Disco and Chase cards.

Re: Cashback limit rules from card to card

simplynoir — Sat, 14 Mar 2020 16:04:39 GMT

Last year when I used Chase Freedom for Paypal they split the remaining 5% I had left and the rest of the purchase went to 1% as I expected it. Didn't realize BofA didn't do that. Apologies for size of image I don't know why screenshot came out so small on my computer

Re: Cashback limit rules from card to card

Anonymous — Sat, 14 Mar 2020 16:08:18 GMT

@simplynoir wrote:
Last year when I used Chase Freedom for Paypal they split the remaining 5% I had left and the rest of the purchase went to 1% as I expected it. Didn't realize BofA didn't do that. Apologies for size of image I don't know why screenshot came out so small on my computer

Yes, I haven't experienced that either on similar cards, but don't have the BoA one. Seems relatively evil to me assuming it applies in other cases, such as: Suppose I had spent say $2450 in eligible transactions. If my next eligible transaction is over $50, do I get 1% on that as well?

Re: Cashback limit rules from card to card

blindambition — Sat, 14 Mar 2020 16:08:18 GMT

I'm sure they're all the same. Cash back percentages only count once on a single transaction.

Re: Cashback limit rules from card to card

CluelessJohn — Sat, 14 Mar 2020 16:12:50 GMT

I believe OP that the BoA rep made that statement, I just don't believe the Rep. That logic says if I've spent $2400 in category and then make a $102 purchase, I only get 1% on the $102. I just can't believe that is how they operate for either scenario.

I've got Disco and Chase Freedom and have blown through quarterly caps but believe I always have received 5% up to the cap limit. Same for Amex BCP groceries. Amex I'm 100% certain.

Re: Cashback limit rules from card to card

blindambition — Sat, 14 Mar 2020 16:10:38 GMT

@Anonymous wrote:
@simplynoir wrote:
Last year when I used Chase Freedom for Paypal they split the remaining 5% I had left and the rest of the purchase went to 1% as I expected it. Didn't realize BofA didn't do that. Apologies for size of image I don't know why screenshot came out so small on my computer

Yes, I haven't experienced that either on similar cards, but don't have the BoA one. Seems relatively evil to me assuming it applies in other cases, such as: Suppose I had spent say $2450 in eligible transactions. If my next eligible transaction is over $50, do I get 1% on that as well?

Good to know on my Chase cards.

Re: Cashback limit rules from card to card

Yankee2 — Sat, 14 Mar 2020 16:15:53 GMT

In that screen shot your showing the whole month. Which would be correct.

The question is on that last purchase that goes over the limit on your card. (lets say you had $50 to go and you spent $75. The question is does everybody get 1% on that $75 purchase or do some companies split that single transaction...)

Re: Cashback limit rules from card to card

Yankee2 — Sat, 14 Mar 2020 16:19:36 GMT

I couldn't believe it either. My reason for calling them was I'm pricing a new deck for my house and I was trying to figure out if the company's CC code fell into that 3% category. They looked it up and said yes it was, but told me to have them split thier invoice so the first $2,500 could be seperate or I wouldn't get any 3%.

Re: Cashback limit rules from card to card

simplynoir — Sat, 14 Mar 2020 16:23:00 GMT

@Yankee2 wrote:
In that screen shot your showing the whole month. Which would be correct.

The question is on that last purchase that goes over the limit on your card. (lets say you had $50 to go and you spent $75. The question is does everybody get 1% on that $75 purchase or do some companies split that single transaction...)

What? If you're talking about my screenshot that isn't the whole month it was one purchase made where I didn't feel like using different cards splitting the purchase so I decided to just put it on that card. The purchase itself was roughly $1800 when I had already gotten some money already put on the quarterly category so the rewards show I got the remaining 5% cap and the rest got shifted into 1% as I expected it to. Had it not I would have had words with Chase

Re: Cashback limit rules from card to card

Yankee2 — Sat, 14 Mar 2020 16:32:28 GMT

Sorry, my mistake. I guess I don't understand the screenshot.

If it was a single transaction of $1,800 I don't understand all the other figures (Looks like it was over $1,8xx at 1%?)

Main thing is if you say you got the full 5%, that's what I was looking to see how other companies did.

Thanks!

Re: Cashback limit rules from card to card

Anonymous — Sat, 14 Mar 2020 16:40:36 GMT

@Yankee2 wrote:
Sorry, my mistake. I guess I don't understand the screenshot.

If it was a single transaction of $1,800 I don't understand all the other figures (Looks like it was over $1,8xx at 1%?)

Main thing is if you say you got the full 5%, that's what I was looking to see how other companies did.

Thanks!

Most of the figures are points rather than dollars. So for the $18XX transaction, he got that 4x points on roughly $1400 (the 5623.04 points) and then 18xx at 1% (and this includes everything, the base 1 point on all the spend) Lots of people find Chase presentation confusing at first ("Why did I get only 4%!")