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BofA Premium Rewards questions

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BofA Premium Rewards questions

9/17 - I opened a Merrill Edge account and transferred in some assets for a nice cash promo

9/21 - I set up a BofA checking account

Minutes ago - I enrolled in Preferred Rewards and was assigned Platinum Honors

 

1. Should I wait a few days for BofA's website to process the PH status before applying for a Premium Rewards card? Checking balance is $1 with no activity other than an initial deposit. Edge balance is slightly over $500k with a few trades. Would a $500 cash deposit into checking  make any difference in the "relationship" variety?

2. How long does Premium Rewards take to arrive? I'm in the Los Angeles area and it would be nice to have it before flying on 12/20.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, Freedom x 2, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC, ED, QS
Retention games: BCP
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 1 of 20
19 REPLIES 19
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Super Contributor

Re: BofA Premium Rewards questions


@wasCB14 wrote:

9/17 - I opened a Merrill Edge account and transferred in some assets for a nice cash promo

9/21 - I set up a BofA checking account

Minutes ago - I enrolled in Preferred Rewards and was assigned Platinum Honors

 

1. Should I wait a few days for BofA's website to process the PH status before applying for a Premium Rewards card? Checking balance is $1 with no activity other than an initial deposit. Edge balance is slightly over $500k with a few trades. Would a $500 cash deposit into checking  make any difference in the "relationship" variety?

2. How long does Premium Rewards take to arrive? I'm in the Los Angeles area and it would be nice to have it before flying on 12/20.


I wouldn't bother with adding money to your checking account as the BoA and Merrill status is consolidated, they'll see the $500K of assets in Merrill.

 

You can check your status by logging to your online account or using the mobile app.  If using the mobile app at the top of the Accounts page you will see a Hello, WasCB14 and right under that "Preferred Rewards Platinum Honors Member" or if logged in via browser there will be an icon on the upper right next to "Enrolled Since December 2019" with "Preferred Rewards Platinum Honors".  You may not see the status tonight but you very well might after tonight's nightly batch update completes - sometime around 5AM EST.

 

You'd be cutting it close at best if you wanted the card for 12/20. 

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$900K+ club
Message 2 of 20
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Super Contributor

Re: BofA Premium Rewards questions

Forgot to mention that for the best chance of having the card for 12/20 I would think hard about applying for the card tonight.  If the decision were deferred I would expect a manual review to be performed tomorrow;  if approved there's still a chance for you to have the card by 12/20.   Deferred applications are reviewed during weekday business hours.

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$900K+ club
Message 3 of 20
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Community Leader
Super Contributor

Re: BofA Premium Rewards questions


@coldfusion wrote:

Forgot to mention that for the best chance of having the card for 12/20 I would think hard about applying for the card tonight.  If the decision were deferred I would expect a manual review to be performed tomorrow;  if approved there's still a chance for you to have the card by 12/20.   Deferred applications are reviewed during weekday business hours.


Ditto applying tonight if you can. Assuming it goes pending you'll want to talk to their credit department to rush the app. If approved talk to them about expediting the card. It might be possible if you explain why you need it quickly though you might have to pay a delivery fee if they don't waive it

Message 4 of 20
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Senior Contributor

Re: BofA Premium Rewards questions

I may apply tonight. If it doesn't arrive I will be having USPS hold my mail, anyway. The card can just sit at the post office for a while, and I won't have any trouble meeting minimum spend in a shorter period.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, Freedom x 2, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC, ED, QS
Retention games: BCP
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 5 of 20
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Senior Contributor

Re: BofA Premium Rewards questions

They usually pull EX I think? I'll unfreeze all just to be safe.

 

All or nearly all my pulls are EX.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, Freedom x 2, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC, ED, QS
Retention games: BCP
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 6 of 20
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Super Contributor

Re: BofA Premium Rewards questions


@wasCB14 wrote:

They usually pull EX I think? I'll unfreeze all just to be safe.

 

All or nearly all my pulls are EX.


Yes - almost exclusively an EX HP for new applications.

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$900K+ club
Message 7 of 20
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Senior Contributor

Re: BofA Premium Rewards questions

Instantly approved for $17k.

 

Low for me these days, but it can grow. Still quite useful, and it's not like it has an intro 0% period. No APR specified.

 

Should I call to expedite? Does anyone have the number?

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, Freedom x 2, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC, ED, QS
Retention games: BCP
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 8 of 20
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Community Leader
Super Contributor

Re: BofA Premium Rewards questions


@wasCB14 wrote:

Instantly approved for $17k.

 

Low for me these days, but it can grow. Still quite useful, and it's not like it has an intro 0% period. No APR specified.

 

Should I call to expedite? Does anyone have the number?


Congrats, sir

 

1-800-732-9194 you'll be placed priority for service being Platinum Honors and just tell them if they can expedite the card for travel next week

Message 9 of 20
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Senior Contributor

Re: BofA Premium Rewards questions


@simplynoir wrote:

@wasCB14 wrote:

Instantly approved for $17k.

 

Low for me these days, but it can grow. Still quite useful, and it's not like it has an intro 0% period. No APR specified.

 

Should I call to expedite? Does anyone have the number?


Congrats, sir

 

1-800-732-9194 you'll be placed priority for service being Platinum Honors and just tell them if they can expedite the card for travel next week


I called 888-888-RWDS. It took 14 minutes to get a rep (though the ID verification via debit last 4 digits at the beginning mentioned I was PH...) and the rep said to call back tomorrow since the card number hadn't generated yet.

 

Not sure whether to call the number you gave tomorrow or tonight.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, Freedom x 2, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC, ED, QS
Retention games: BCP
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 10 of 20
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