topic Re: Multiple BofA Better Balance Rewards? in Credit Cards

Multiple BofA Better Balance Rewards?

gh17 — Thu, 29 May 2014 02:05:09 GMT

Not going to do this, but do you think they'd let you open multiple Better Balance Rewards cards? $25 a quarter for nothing isn't bad..

Re: Multiple BofA Better Balance Rewards?

Membersince2013 — Thu, 29 May 2014 02:09:25 GMT

No..They won't. Unless if you have multiple SSNs.

Re: Multiple BofA Better Balance Rewards?

Kenny — Thu, 29 May 2014 02:12:21 GMT

Not at all true. I know this for a fact. I have two of them. I don't know if I'll get the bonus on both, but we shall see.

I PC'd one of them from Cash Rewards to it.

Re: Multiple BofA Better Balance Rewards?

Membersince2013 — Thu, 29 May 2014 02:15:47 GMT

@KennyRS wrote:
Not at all true. I know this for a fact. I have two of them. I don't know if I'll get the bonus on both, but we shall see.

I PC'd one of them from Cash Rewards to it.

Well, unless if you PC another BOA card, i guess. I do know that they won't just approve you for 2 balance transfer rewards cards lol.

Re: Multiple BofA Better Balance Rewards?

Kenny — Thu, 29 May 2014 02:17:49 GMT

@Membersince2013 wrote:
@KennyRS wrote:
Not at all true. I know this for a fact. I have two of them. I don't know if I'll get the bonus on both, but we shall see.

I PC'd one of them from Cash Rewards to it.
Well, unless if you PC another BOA card, i guess. I do know that they won't just approve you for 2 balance transfer rewards cards lol.

Maybe so! I was shocked to see it changed on my login.. I was like oh wow they did actually go through with the PC and not just delete it like I thought they had.

I find myself not utilizing BoA cards at all so it's nice to have them both be the BBR card. I hope I'm getting the bonus on two of them as it would be nice to have a free phone bill every now and then.. haha!

Re: Multiple BofA Better Balance Rewards?

sexy_kitten7 — Fri, 30 May 2014 05:57:22 GMT

I have 3. Yes, you get double/triple bonuses.

One of mine was a new app (MC when I only held a Visa), but BoA is very duplicate (read: churning) friendly. The 3rd BBR was a PC.

A great strategy I learned on here is to app for a BoA rewards card and then downgrade to the no fee BBR once it becomes obsolete. It's much more efficient than simply SDing!

Re: Multiple BofA Better Balance Rewards?

Anonymous — Wed, 24 Sep 2014 05:07:08 GMT

i guess ill get my reward if i pay $1 and charge $1 before it closes

Re: Multiple BofA Better Balance Rewards?

Kenny — Wed, 24 Sep 2014 05:11:49 GMT

@Anonymous wrote:

i guess ill get my reward if i pay $1 and charge $1 before it closes

Yep. I charge 5-10 each month and pay it down to 1 let the statement close and then pay the 1 buck..rinse and repeat.

Re: Multiple BofA Better Balance Rewards?

Anonymous — Wed, 24 Sep 2014 05:28:17 GMT

@KennyRS wrote:
Yep. I charge 5-10 each month and pay it down to 1 let the statement close and then pay the 1 buck..rinse and repeat.

Why do you pay it down to $1? I understand the implications of going under "1," but that's another topic. What's the difference between letting it report a balance of $5 or $10 or $1? Am I missing something?

Re: Multiple BofA Better Balance Rewards?

sexy_kitten7 — Wed, 24 Sep 2014 06:15:19 GMT

@Anonymous wrote:
@KennyRS wrote:
Yep. I charge 5-10 each month and pay it down to 1 let the statement close and then pay the 1 buck..rinse and repeat.

Why do you pay it down to $1? I understand the implications of going under "1," but that's another topic. What's the difference between letting it report a balance of $5 or $10 or $1? Am I missing something?

I'm also unclear on why OP is doing that. Maybe so it will report as 1% (as opposed to 2%??).

In related news, someone reported that BoA never forgives small balances (i.e. 50 cents). This is a good thing, since this rewards program requires a balance to be due.

Re: Multiple BofA Better Balance Rewards?

Anonymous — Wed, 24 Sep 2014 06:49:36 GMT

@sexy_kitten7 wrote:
@Anonymous wrote:
@KennyRS wrote:
Yep. I charge 5-10 each month and pay it down to 1 let the statement close and then pay the 1 buck..rinse and repeat.

Why do you pay it down to $1? I understand the implications of going under "1," but that's another topic. What's the difference between letting it report a balance of $5 or $10 or $1? Am I missing something?

I'm also unclear on why OP is doing that. Maybe so it will report as 1% (as opposed to 2%??).

In related news, someone reported that BoA never forgives small balances (i.e. 50 cents). This is a good thing, since this rewards program requires a balance to be due.

Well, if they are smart, thanks to this card, they will change their policy. Otherwise some people will just take them to the cleaners until they kill this card for everybody...

And I still would like to know what this reducing the balance to $1 is all about... if indeed there is some logic behind it, which I am seriously doubting.

Re: Multiple BofA Better Balance Rewards?

Anonymous — Wed, 24 Sep 2014 16:29:08 GMT

@Anonymous wrote:
@sexy_kitten7 wrote:
@Anonymous wrote:
@KennyRS wrote:
Yep. I charge 5-10 each month and pay it down to 1 let the statement close and then pay the 1 buck..rinse and repeat.

Why do you pay it down to $1? I understand the implications of going under "1," but that's another topic. What's the difference between letting it report a balance of $5 or $10 or $1? Am I missing something?

I'm also unclear on why OP is doing that. Maybe so it will report as 1% (as opposed to 2%??).

In related news, someone reported that BoA never forgives small balances (i.e. 50 cents). This is a good thing, since this rewards program requires a balance to be due.

Well, if they are smart, thanks to this card, they will change their policy. Otherwise some people will just take them to the cleaners until they kill this card for everybody...

And I still would like to know what this reducing the balance to $1 is all about... if indeed there is some logic behind it, which I am seriously doubting.

What happened was i started off $0 balance due and they said i would not qualify for a reward that i need to have a balance due. I mistakenly paid my balance i accumuated that i did not have to pay until November becauase my balance min. due was $0 for October but i paid it off anyways before i realize i still didn't qualify because remember it said $0 balance due. I went back and asked what if i pay ''over the min. due''' They said $0 balance does not qualify because it's not min. due. And because i just paid in full its going to now say balance due $0 again next month !! and not min. due. You need to have it show min. due or pay over the min. due to qualify. Luckily i hurried and went back and charged $1 using my ebay account on the day it closed so now NEXT MONTH my first month i qualified and i guess i have to keep it this way where it shows min. due.

You can keep it $10, $5, but ebay (when you pay your account balance, it allows you to enter how much you want to pay and $1 is the minimum.) You can make one-time payment using PayPal or another payment method. (better balance rewards).

Besides, i don't want a hard inquiry for a credit limit increase. I been stuck $500 for 2 years now. My lowest card and with only $500 limit i would never carry a balance over $50 unless i know i will pay in Pay in full before statement closes.

I product change from cash rewards to better balance rewards saving myself from an inquiry getting the better balance rewards. I figured i only accumulated $60 cash back on gas this year using bank america cash rewards when i could be making $120 cash back a year using better balance instead. So i made the switch.

Re: Multiple BofA Better Balance Rewards?

Anonymous — Wed, 24 Sep 2014 18:10:10 GMT

@Anonymous wrote:
@Anonymous wrote:
@sexy_kitten7 wrote:
@Anonymous wrote:
@KennyRS wrote:
Yep. I charge 5-10 each month and pay it down to 1 let the statement close and then pay the 1 buck..rinse and repeat.

Why do you pay it down to $1? I understand the implications of going under "1," but that's another topic. What's the difference between letting it report a balance of $5 or $10 or $1? Am I missing something?

I'm also unclear on why OP is doing that. Maybe so it will report as 1% (as opposed to 2%??).

In related news, someone reported that BoA never forgives small balances (i.e. 50 cents). This is a good thing, since this rewards program requires a balance to be due.

Well, if they are smart, thanks to this card, they will change their policy. Otherwise some people will just take them to the cleaners until they kill this card for everybody...

And I still would like to know what this reducing the balance to $1 is all about... if indeed there is some logic behind it, which I am seriously doubting.

What happened was i started off $0 balance due and they said i would not qualify for a reward that i need to have a balance due. I mistakenly paid my balance i accumuated that i did not have to pay until November becauase my balance min. due was $0 for October but i paid it off anyways before i realize i still didn't qualify because remember it said $0 balance due. I went back and asked what if i pay ''over the min. due''' They said $0 balance does not qualify because it's not min. due. And because i just paid in full its going to now say balance due $0 again next month !! and not min. due. You need to have it show min. due or pay over the min. due to qualify. Luckily i hurried and went back and charged $1 using my ebay account on the day it closed so now NEXT MONTH my first month i qualified and i guess i have to keep it this way where it shows min. due.

Thanks, but I was not unclear about your strategy. I know what you are doing. As I posted, I don't understand the "logic" of the poster claiming having a balance of $5 or $10, and paying it down to $1 before Statement Cut. That is what I was wondering if there was a sound logic behind it, and I am pretty convinced there isn't.

Re: Multiple BofA Better Balance Rewards?

Anonymous — Wed, 24 Sep 2014 20:02:56 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@sexy_kitten7 wrote:
@Anonymous wrote:
@KennyRS wrote:
Yep. I charge 5-10 each month and pay it down to 1 let the statement close and then pay the 1 buck..rinse and repeat.

Why do you pay it down to $1? I understand the implications of going under "1," but that's another topic. What's the difference between letting it report a balance of $5 or $10 or $1? Am I missing something?

I'm also unclear on why OP is doing that. Maybe so it will report as 1% (as opposed to 2%??).

In related news, someone reported that BoA never forgives small balances (i.e. 50 cents). This is a good thing, since this rewards program requires a balance to be due.

Well, if they are smart, thanks to this card, they will change their policy. Otherwise some people will just take them to the cleaners until they kill this card for everybody...

And I still would like to know what this reducing the balance to $1 is all about... if indeed there is some logic behind it, which I am seriously doubting.

What happened was i started off $0 balance due and they said i would not qualify for a reward that i need to have a balance due. I mistakenly paid my balance i accumuated that i did not have to pay until November becauase my balance min. due was $0 for October but i paid it off anyways before i realize i still didn't qualify because remember it said $0 balance due. I went back and asked what if i pay ''over the min. due''' They said $0 balance does not qualify because it's not min. due. And because i just paid in full its going to now say balance due $0 again next month !! and not min. due. You need to have it show min. due or pay over the min. due to qualify. Luckily i hurried and went back and charged $1 using my ebay account on the day it closed so now NEXT MONTH my first month i qualified and i guess i have to keep it this way where it shows min. due.

Thanks, but I was not unclear about your strategy. I know what you are doing. As I posted, I don't understand the "logic" of the poster claiming having a balance of $5 or $10, and paying it down to $1 before Statement Cut. That is what I was wondering if there was a sound logic behind it, and I am pretty convinced there isn't.

Well i never had a balance. Others do it differently but if you charge more than $25 then your minimum due will be more than $25. If you keep your balance under $25 then your minimum due will be $1, $5 ... $10 which ever you prefer.

For me my credit limit only $500 so i never go over $50 unless i know i'll pay in full bur remember if you pay in full then you'll have $0 minimum due for your next billing statement and you will not qualify for your $25 reward using Better Balance Reward.

Thats why some of us at least keep $1 minimum due. If you want pay more thats your preference but main goal for the Better Balnce Rewards is to earn $25 each quarter by paying the minimum due or over the minimum due and in this case minimum of $0.1 should qualify or in my case $1.

And since its below $25 my minimum due will be $1 so you want to pay that before statement cuts so you can charge again to be entered in your next billing cucle's minimum due otherwise, you wont get $25.

Others do it differently whether they charge $200 a month and only pay $50 and carry the balance over or pay in full before statement cuts and charge it again and have that charge show up as minimum due on your next biling period.

Re: Multiple BofA Better Balance Rewards?

sexy_kitten7 — Wed, 24 Sep 2014 21:40:25 GMT

PSA: The cheapest online CC trx I'm aware of is amazon.com GCs: only 50c! It used to be even lower!

The great thing is it automatically collates them together when you make a purchase. No need to save or enter the codes or anything!

Personally, I use iTunes cuz I shop there anyways.

Re: Multiple BofA Better Balance Rewards?

joltdude — Thu, 25 Sep 2014 00:23:38 GMT

I'm under the impression you can just wait until after statement cut and Pif to get the bonus

Re: Multiple BofA Better Balance Rewards?

Anonymous — Thu, 25 Sep 2014 00:49:39 GMT

@joltdude wrote:
I'm under the impression you can just wait until after statement cut and Pif to get the bonus

yes if you want your balance reported to the credit bureaus and effect your utilization rate. thats why you want to pay in full before the statement cuts.

Remember they are two dates. You have the ...

Payment due date:
Next closing date:

usuallly your payment due date comes BEFORE your statement cuts so it wouldn't make any sense to pay AFTER your statemrent cuts unless you've already made a payment and want to make micro-payments or you're just late and risk accumulating a late payment fee.

My Better Balance Reward payment due is October 19 but my statement does not close (reports to credit bureu) until October 23 so if i paid in FULL before statements cuts October 23 then it will report $0 balance due to credit beaus and i will not qualify the $25 for this current quarter because i do not have ''minimum due.' on my following billing statement ... if i read the terms right it says:

''You will earn a $25 cash reward for each calendar quarter in which

all of your monthly payments are received on or before the due date

and are more than the minimum payment due.

Your account must remain open and you must have a payment due in each of the month

a zero balance or a credit balance does not qualify.