topic Re: Bank of America - More Rewards Day November 5th in Credit Cards

Bank of America - More Rewards Day November 5th

cashorcharge — Mon, 24 Oct 2022 22:42:46 GMT

I came across this through DoctorOfCredit. The odd thing is, the link to the BofA site works though admittedly, I cannot find a way to see this once logged into BofA and was curious if others have received either an email notification or if it's showing up online for anyone!

Essentially, rewards based cards will earn and extra 2% on November 5th with a few minor restrictions (cash advances and so forth)

https://promotions.bankofamerica.com/card/morerewardsday

Re: Bank of America - More Rewards Day November 5th

raisemysc0re — Tue, 25 Oct 2022 00:02:45 GMT

Nice find!

Re: Bank of America - More Rewards Day November 5th

wasCB14 — Tue, 25 Oct 2022 00:11:48 GMT

4.625% cash back could be pretty good for people with those $50k+ CLs and some flexibility on when they pay major bills.

Re: Bank of America - More Rewards Day November 5th

wasCB14 — Tue, 25 Oct 2022 23:04:32 GMT

@wasCB14 wrote:
4.625% cash back could be pretty good for people with those $50k+ CLs and some flexibility on when they pay major bills.

Picked up an additional $24k CL on a second CCR today. I'm still a mostly-Amex guy, but maybe I'll reallocate to make one of those big PRs soon.

I don't have any major non-business purchases coming up though.

Re: Bank of America - More Rewards Day November 5th

Turbobuick — Wed, 26 Oct 2022 03:13:14 GMT

Q: If I am enrolled in Preferred Rewards, will I earn my Preferred Rewards bonus on purchases I make with this promotional offer?

A: You will earn the Preferred Rewards bonus on the purchase amount(s). The Preferred Rewards bonus does not apply to the incremental bonus earn for this promotion.

Pretty much blows any deals for Platinum Preferred accounts... if I understand correctly.

Re: Bank of America - More Rewards Day November 5th

Curious_George2 — Wed, 26 Oct 2022 04:26:38 GMT

@Turbobuick wrote:
Q: If I am enrolled in Preferred Rewards, will I earn my Preferred Rewards bonus on purchases I make with this promotional offer?

A: You will earn the Preferred Rewards bonus on the purchase amount(s). The Preferred Rewards bonus does not apply to the incremental bonus earn for this promotion.

Pretty much blows any deals for Platinum Preferred accounts... if I understand correctly.

I'm not totally sure what you mean, but there is nothing negative about this promo.

If you have, say, an Unlimited Cash Rewards card that earns rewards at a base rate of 1.5%, and you are a Preferred Rewards Platinum member you always get a 50% bonus on that, yielding 2.25% cashback on everything. The Q&A you quoted is simply saying your earn rate on November 5 will be 4.25%.

Re: Bank of America - More Rewards Day November 5th

Turbobuick — Wed, 26 Oct 2022 15:43:29 GMT

@Curious_George2 wrote:
@Turbobuick wrote:
Q: If I am enrolled in Preferred Rewards, will I earn my Preferred Rewards bonus on purchases I make with this promotional offer?

A: You will earn the Preferred Rewards bonus on the purchase amount(s). The Preferred Rewards bonus does not apply to the incremental bonus earn for this promotion.

Pretty much blows any deals for Platinum Preferred accounts... if I understand correctly.
I'm not totally sure what you mean, but there is nothing negative about this promo.

If you have, say, an Unlimited Cash Rewards card that earns rewards at a base rate of 1.5%, and you are a Preferred Rewards Platinum member you always get a 50% bonus on that, yielding 2.25% cashback on everything. The Q&A you quoted is simply saying your earn rate on November 5 will be 4.25%.

I've read it several times and it seems the two bonus's don't stack... but I could be wrong. Read each sentence by itself. They should have used an example to make their point.

Re: Bank of America - More Rewards Day November 5th

wasCB14 — Wed, 26 Oct 2022 16:04:38 GMT

How I understand it is:

Base earn rate*(100%+Preferred Rewards bonus)+2%

So for Platinum Honors, with a Premium Rewards and dining (2x base) spend, that's:

.02*(1+.75)+.02...so 5.5%

Re: Bank of America - More Rewards Day November 5th

Curious_George2 — Wed, 26 Oct 2022 17:05:59 GMT

@Turbobuick wrote:
@Curious_George2 wrote:
@Turbobuick wrote:
Q: If I am enrolled in Preferred Rewards, will I earn my Preferred Rewards bonus on purchases I make with this promotional offer?

A: You will earn the Preferred Rewards bonus on the purchase amount(s). The Preferred Rewards bonus does not apply to the incremental bonus earn for this promotion.

Pretty much blows any deals for Platinum Preferred accounts... if I understand correctly.
I'm not totally sure what you mean, but there is nothing negative about this promo.

If you have, say, an Unlimited Cash Rewards card that earns rewards at a base rate of 1.5%, and you are a Preferred Rewards Platinum member you always get a 50% bonus on that, yielding 2.25% cashback on everything. The Q&A you quoted is simply saying your earn rate on November 5 will be 4.25%.
I've read it several times and it seems the two bonus's don't stack... but I could be wrong. Read each sentence by itself. They should have used an example to make their point.

It's a little tricky to phrase these things in a clear and accurate way, but it appears you are misunderstanding them.

I suspect the sentence that's causing confusion is: "The Preferred Rewards bonus does not apply to the incremental bonus earn for this promotion." When they say the incremental bonus earn for this promotion, they are specifically referring to the special 2% on November 5 purchases. We won't get a Preferred Rewards bonus on that.

To recycle my example from upthread, we get:

(A) The UCR's standard 1.5% cashback.

(B) The 50% Perferred Rewards bonus on (A), which adds 0.75% cashback.

The last sentence of their answer is saying we don't also get the 50% Perferred Rewards bonus on (C).

In other words, you get the Preferred Reward bonus and the November 5 bonus, but you don't get the Preferred Rewards bonus on the November 5 bonus.

I concur with @wasCB14's explanation.

Re: Bank of America - More Rewards Day November 5th

Hoben02 — Wed, 26 Oct 2022 19:50:39 GMT

So I wanted more details about this promo and was handed off to three CSR who didn't know anything about this promo finally on the 3rd one I had him google to find the promo.

anyways I was hoping for a giant windfall since I've got my prop tax payment coming up, but unfortunately it has to post on that date which happens to be a Saturday and we know how government runs on the weekend.

the other issue that did make it look promising is that you get the rewards on top of your status apparently

Re: Bank of America - More Rewards Day November 5th

cashorcharge — Wed, 26 Oct 2022 21:21:19 GMT

Thanks for picking up the phone @Hoben02 and asking.

Thanks @wasCB14 and @Curious_George2 as that was my understanding too. However, if @Turbobuick understanding is correct...then perhaps that's why I am not seeing it online as I am a preferred rewards member and I can't see this anywhere once I've gotten into my accounts. I do have some large ticket purchases I can make @wasCB14 on that day and I would venture to guess that if the charge was made on a Saturday, though wouldn't close for a day or two...the original posting date of Nov 5th would be the date it transacts, thus eligible.

I'd love to bring in the one who gave me guidance on BofA before... @coldfusion ...any reference or feedback?

Re: Bank of America - More Rewards Day November 5th

Curious_George2 — Wed, 26 Oct 2022 21:54:09 GMT

@cashorcharge: Fear not. Although they are doing a lackluster job of marketing this promotion, if you have a BofA credit card, you are eligible. Try opening the BofA mobile app, but don't sign in. On the login screen, a bit below the login section, there should be four panel ads. One of those should be for the Nov 5th More Rewards Day promo, like so:

Any rep who said posting date controls is simply mistaken. The official terms and conditions are crystal clear that it's the transaction date that matters. Here is the complete, unedited text:

Offer Rules: Cardholders in rewards programs will earn an additional 2% cash rewards, or 2 points, or 2 Miles per $1 spent on purchases made on 11/05/2022. Cardholders not in a rewards program will be issued a statement credit equal to 2% of total purchases made on 11/05/2022. This special offer is available on any Bank of America Consumer or Small Business credit cards. Rewards type is dependent on the card you are using. See your current Program Rules for any rewards program details. For Consumer credit cards, the statement credit will generally be applied to your existing balance with the highest APR before being applied to any balances with lower APRs. For Small Business credit cards, the statement credit will generally be applied to your existing Purchase balance. Receipt of a statement credit does not affect your responsibility to pay your Minimum Payment Due shown on each statement you receive from us. Cash Advances and Balance Transfers are not purchases and do not apply for purposes of this offer. Allow up to 12 weeks after the promotion ends for the promotional cash rewards, points, Miles, or statement credit to be added to your account. The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward. Please consult your tax advisor, as neither we, nor our affiliates, provide tax advice. Limitations: All of the following conditions are applicable throughout the entire promotional period, which is inclusive of the date the offer begins through the date the promotional cash rewards, points, Miles, or statement credit are fulfilled. Only purchases that appear on your statement with a transaction date of 11/05/2022 will qualify. This offer will not apply to any customer bonus or account opening bonus, nor will you receive the Preferred Rewards bonus on the additional rewards earned. Your account must be open and have active charging privileges in order to receive the promotional cash rewards, points, Miles, or statement credit as a result of this offer. Other advertised promotional offers can vary from this promotion and may not be substituted. Promotional cash rewards, points, Miles, or statement credit earned as a result of the promotion are incremental of cash rewards, points, Miles, or statement credits earned on purchases through regular use of your card’s rewards program and/or other promotions you may have. Purchase eligibility is based on transaction(s) occurring on the account from 12:00am to 11:59pm Eastern Time (ET) on 11/05/2022. This means that your transaction must occur during the Eastern Time promo period – not your local time. For example, a transaction that occurs at 11pm Pacific time on 11/05/2022 would be considered 2am Eastern Time on 11/06/2022 and therefore will not be eligible for the bonus offer. Merchants can impact when a transaction will appear on your statement if they delay processing of the purchase. Transactions with delayed processing of 90 days or more will not be eligible to be included in the promotional offer.

Re: Bank of America - More Rewards Day November 5th

cashorcharge — Wed, 26 Oct 2022 22:09:02 GMT

OMG @Curious_George2 You are awesome!!!!!!!!!!!!!!!!!!!!

Each time I open the mobile app, I don't even get to see those boxes as Face ID automatically just logs me in so those boxes are never visible unless you stop the device from signing you in. There it was...plain as day!!!!!!!!

Mystery Solved. Thank you...

Re: Bank of America - More Rewards Day November 5th

CreditMarathoner — Thu, 27 Oct 2022 22:20:22 GMT

Sweet! I went to the site and there's no sign up necessary... just use your eligible card(s) that day. I need to put a reminder on my calendar to only use my BoA CCR that day.

I'm guessing it applies to any purchase/approval made that day, even if it posts a few days later? I'd love to throw my property tax bill on there, hopefully their payment processor will do the authorization on Saturday. I just have to see if it's worth the processing fee.

I suppose I should be using my Online Purchases selected category to maximize my rewards though... what should I buy that day. Hmm...

Re: Bank of America - More Rewards Day November 5th

SaintMortichai — Sun, 30 Oct 2022 21:17:52 GMT

Thank you for this info! I will make sure to go grocery shopping that day. Doesn't help that I have three of the CCR cards! One is my own and I'm an AU on the other two. It will all depend on what I'll need that day. Happy to get a little cash back bonus anywhere we can!

Re: Bank of America - More Rewards Day November 5th

gdale6 — Fri, 04 Nov 2022 02:36:54 GMT

I got the email on this yesterday.

Re: Bank of America - More Rewards Day November 5th

Hoben02 — Sat, 05 Nov 2022 16:27:18 GMT

So I just paid the first installment on my property tax and was worried that the la county government would gum it up, but I see the transaction in a pending state at bofa on my premium rewards card. I might pay the 2nd installment now. Let's hope I see that extra rewards on top of my platinum honors

Re: Bank of America - More Rewards Day November 5th

gdale6 — Sat, 05 Nov 2022 18:21:00 GMT

BoA must be slammed today by this promo, its taking up to 20 mins for me to get the alert from them that my card has been used, normally its only a few seconds. Great promo.

Re: Bank of America - More Rewards Day November 5th

Cashbackjunky — Sat, 05 Nov 2022 19:50:07 GMT

@gdale6 wrote:
BoA must be slammed today by this promo, its taking up to 20 mins for me to get the alert from them that my card has been used, normally its only a few seconds. Great promo.

Yeah, it's taken about a half hour on my purchases today as well. Good for them.

I know I've diverted spend to this card, on this day because of this promo and have to imagine plenty of others have as well

Re: Bank of America - More Rewards Day November 5th

Hoben02 — Sat, 12 Nov 2022 14:53:25 GMT

@Hoben02 wrote:
So I just paid the first installment on my property tax and was worried that the la county government would gum it up, but I see the transaction in a pending state at bofa on my premium rewards card. I might pay the 2nd installment now. Let's hope I see that extra rewards on top of my platinum honors

Hey it worked looks like I got a 4.625% rewards on my property tax payments. Will have to see how bad my fico score drops since I have over 50% utilization on two cards