topic Re: BofA Travel Rewards Redemption options in Credit Cards

BofA Travel Rewards Redemption options

Anonymous — Sat, 12 Oct 2013 01:44:18 GMT

My question is if you can get cash back or statement credit anytime instead of a statement credit applied toward a travel related purchase with this card?

Re: BofA Travel Rewards Redemption options

SuperKirby — Sat, 12 Oct 2013 02:32:16 GMT

https://www.managerewardsonline.bankofamerica.com/RMSapp/Ctl/link?eid=6F8F6E9D

Yes you can. I am surprised BoA doesn't advertise this card as a 1.5% cash back on ALL purchases. This would grab anyone's attention. If you bank with them, it is 1.65% cash back on ALL purchases. No foreign transaction fees, EMV. This should be the card to beat in the no-AF world.

Re: BofA Travel Rewards Redemption options

bigbang91 — Sat, 12 Oct 2013 07:46:26 GMT

@Anonymous wrote:
My question is if you can get cash back or statement credit anytime instead of a statement credit applied toward a travel related purchase with this card?

when you get cash back, 1 point equal less than 1 cent. So 2500 points=15$ only. Only travel relate purchases can be redeem for 1cent=1point

Re: BofA Travel Rewards Redemption options

Anonymous — Sat, 12 Oct 2013 08:06:28 GMT

@bigbang91 wrote:
@Anonymous wrote:
My question is if you can get cash back or statement credit anytime instead of a statement credit applied toward a travel related purchase with this card?
when you get cash back, 1 point equal less than 1 cent. So 2500 points=15$ only. Only travel relate purchases can be redeem for 1cent=1point

Woah, really? I just chatted online with BofA. Two CSRs have told me that cash back also equals 2500 pts = $25. So have you tried a dummy redemption yourself to confirm 2500 pts = $15?

I know CSRs have known to be wrong a lot.

Re: BofA Travel Rewards Redemption options

Revelate — Sat, 12 Oct 2013 08:25:04 GMT

@Anonymous wrote:
@bigbang91 wrote:
@Anonymous wrote:
My question is if you can get cash back or statement credit anytime instead of a statement credit applied toward a travel related purchase with this card?
when you get cash back, 1 point equal less than 1 cent. So 2500 points=15$ only. Only travel relate purchases can be redeem for 1cent=1point
Woah, really? I just chatted online with BofA. Two CSRs have told me that cash back also equals 2500 pts = $25. So have you tried a dummy redemption yourself to confirm 2500 pts = $15?
I know CSRs have known to be wrong a lot.

CSR was wrong

Direct from the BOFA redemption options as a Travel Rewards card holder:

*****

"It’s easy to set up Automatic Redemptions with your card.

Once you have linked an account to your card, you can redeem your points for a cash deposit into your designated account. When you are ready to redeem, enter the number of Points you would like to redeem in the box next to the desired account and click, "Redeem."

Cash redemptions start at 2,500 points (2,500 points = $15)."

*****

It's really not a bad card though unless you need the EMV chip the Quicksilver admittedly is better (though traditionally it's a lot easier to build a respectable limit with BOFA than it is with Cap One, different issue), but it's not grail-like.

Re: BofA Travel Rewards Redemption options

Anonymous — Sat, 12 Oct 2013 08:44:59 GMT

Man. I knew this card was too good to be true... Its still a good card. But yes, still many better cards out there now.

Re: BofA Travel Rewards Redemption options

DaveSignal — Sat, 12 Oct 2013 08:48:48 GMT

If you use this card as a regular card, you will probably have travel purchases that you didn't even realize were travel purchases. If have never NOT had a travel expense that I couldn't use all of my points toward for maximum cash back. All sorts of places qualify as travel, including the normal planes, trains, and busses.

Re: BofA Travel Rewards Redemption options

bigbang91 — Sat, 12 Oct 2013 08:54:34 GMT

@Anonymous wrote:
Man. I knew this card was too good to be true... Its still a good card. But yes, still many better cards out there now.

i know, i fell for the trick also. However, if you redeem for travel related purchases, 10k points=100$

Re: BofA Travel Rewards Redemption options

Revelate — Sat, 12 Oct 2013 08:57:07 GMT

@DaveSignal wrote:
If you use this card as a regular card, you will probably have travel purchases that you didn't even realize were travel purchases. If have never NOT had a travel expense that I couldn't use all of my points toward for maximum cash back. All sorts of places qualify as travel, including the normal planes, trains, and busses.

I fully agree Dave, I'm pretty happy with my own especially if I do get sent to the UK which may happen next year or two if I don't dump my awkward employer.

That said, with the Quicksilver underwriting being so easily obtainable (and it is admittedly a very good card if you're not worried about CL nor customer service horror stories, and probably easier to qualify for than the BOFA card without going the secured PC route), it's hard for me to look at searching for options for this card vs. a 1.5% cash back spender.

Edit: I don't know when the Quicksilver got released but that card is just too good at it's strata in the current competitive market, and other lenders may have to move to match if C1 can get traction with higher credit profile customers on it.

Re: BofA Travel Rewards Redemption options

bigbang91 — Sat, 12 Oct 2013 08:55:52 GMT

@Anonymous wrote:
Man. I knew this card was too good to be true... Its still a good card. But yes, still many better cards out there now.

also Stiga, you can PC your travel reward card to Cashback, i just did lol.

Re: BofA Travel Rewards Redemption options

Anonymous — Sat, 12 Oct 2013 09:09:12 GMT

Lol. I prefer a 1.5 cash back card. And I'll use the bofa travel rewards as a backup for the EMV overseas. With an earn rate at 1.65 and a redemption rate at .60, it effectively makes it a .99% cashback card, its not even a 1% cash back card Lol.

Thanks for the info on the quicksilver.

What's the difference between the quicksilver one vs quicksilver?

Re: BofA Travel Rewards Redemption options

DaveSignal — Sat, 12 Oct 2013 09:18:02 GMT

@Revelate wrote:
@DaveSignal wrote:
If you use this card as a regular card, you will probably have travel purchases that you didn't even realize were travel purchases. If have never NOT had a travel expense that I couldn't use all of my points toward for maximum cash back. All sorts of places qualify as travel, including the normal planes, trains, and busses.
I fully agree Dave, I'm pretty happy with my own especially if I do get sent to the UK which may happen next year or two if I don't dump my awkward employer.

That said, with the Quicksilver underwriting being so easily obtainable (and it is admittedly a very good card if you're not worried about CL nor customer service horror stories, and probably easier to qualify for than the BOFA card without going the secured PC route), it's hard for me to look at searching for options for this card vs. a 1.5% cash back spender.

Edit: I don't know when the Quicksilver got released but that card is just too good at it's strata in the current competitive market, and other lenders may have to move to match if C1 can get traction with higher credit profile customers on it.

I am currently living in the UK. A card such as the travel rewards card is more useful here than a quicksilver due to the EMV, even if it is chip + sig. There are a few smaller shops in town that do not even have a reader for a swipe card attached to the register... which can be a probelm if you live right next to one of these shops (I do). The merchants don't manually enter card numbers either. Most restaurants will take a swipe card though, since they usually have a chip reader with a swipe reader along the side of the pin pad.

But, as I was saying, especially if you are doing things in a big city (like London), various fun things to do that are often popular with tourists count as travel expenses.... and those a redeemable for a full year. A small few of many examples: I took my wife on the London Eye in June for fun, since we were in the area anyway. That purchse counts for full cash back that I could redeem right now or wait all the way until June of next year and still be eligable to use my points. Any tickets I have bought from automated machines in the London underground can be redeemed. I did a Scotch-making tour in Scotland where I drank Scotch with my buddies. Redeemable. All of the castles and english-heritage type stuff - redeemable. Most of these expenses are just me enjoying some of my free time to do things in UK, not even thinking about it, and then checking my online rewards statement to see all sorts of new travel-related purchases that can be redeemed for full credit.