Bank Americard - PC to a 2nd CCR, combine limits, or keep for BT offers?

[FICOnoob2020]

The initial 0% BT (balance transfer) period just expired on my Bank Americard, and I am wondering whether to keep it for possible future BT offers or change/merge it into a CCR (Custom Cash Rewards) card.

Does this product offer occasional BT promotions for existing accounts, like my Discover It cards will do from time to time?

Are there any other considerations to think about when deciding on a merge versus a product change with BoA?

Thank you!

[nytokyobred79]

Following this thread as I will be in a similar situation soon with my Americard BT promo. 

[BudC2]

I have no direct experience with this yet but I have read posts that state BofA occasionally offers balance transfer promotions to existing customers on the CCR (as well as other cards).

My plan for a couple months down the road is to apply for a CCR and then move as much of my CL from my BankAmericard to the new CCR and then close the BankAmericard. This serves 2 purposes. It gives me a new BT card and a higher CL that will help keep utilization lower and it gets rid of the BankAmericard that has no rewards or other benefits for me when the initial BT promo ends. For my purposes, fewer cards with higher CL's is more beneficial than many cards with lower CL's.

My aim is to eventually have only the cards I need for cash back on Home Utilities, Streaming Services, Online Shopping (Walmart & Sam's primarily), gas and occasionally restaurants. The only non-rewards card I will have is my Navy Fed Platinum with a lower interest rate compared to most other cards. I could get a card around 8.9% elsewhere but I don't want to switch my direct deposit away from Navy Fed right now.

My lengthy post here is mainly to illustrate heavy planning for the future instead of living in the moment today. I'll be retiring in 6-9 years and didn't want to have to play catch up on financial planning that late in life. My biggest piece of advice to anyone is think about where you want to be in the future instead of want you want right now. Now only lasts a moment but the future lasts till death. (Okay so I'm no famous philosopher, but it works for me.)

[Turbobuick]

I currently use 3 ccr and an unlimited cash rewards, all by BofA and all are offering BT. Three have 4% transaction fees and one has a 3% transaction fee. I've never carried a balance, and hence, never used them. They offer 15 months interest free. Reality is the transaction fee is interest charges. Just better than the usual ripoff rate. 

[UncleB]

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@FICOnoob2020 wrote:

The initial 0% BT (balance transfer) period just expired on my Bank Americard, and I am wondering whether to keep it for possible future BT offers or change/merge it into a CCR (Custom Cash Rewards) card.

Does this product offer occasional BT promotions for existing accounts, like my Discover It cards will do from time to time?

Are there any other considerations to think about when deciding on a merge versus a product change with BoA?

Thank you!

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I have two Customized Cash Rewards cards; both were once 'Better Balance Rewards' cards that were force-converted to Unlimited Cash Rewards cards until I requested a PC on both to the CCR.

Both accounts have constant BT offers, right now the offer on both is for 0%/12 months with a 4% fee.  At one time my offers would be for 3% fee/18 months, but 4% fee/12 months seems to be standard now (at least for me).

I can't speak with authority, but based on what I've seen and experienced the prevalence of BT offers on BoA cards seems to be independent of the rewards type.  Put another way, if they want to give you a BT offer you'll get it regardless of the card type.

Finally, you mention a "merge"... if you want to close the card and move/reallocate the credit line to another BoA card that might be possible, but many folks (myself included) find value in having multiple BoA cards, especially CCR (Customized Cash Rewards) accounts. 

If it were me I'd do the PC.  Then at least you'll be able to use the card to earn rewards until you get a BT offer and decide to use it (technically you can use the card even once you take the BT offer, but you lose the grace period on any new purchases).

Just my 2¢.

[FICOnoob2020]

To follow up on the OP, I called and asked about either a product change or consolidation.

The rep told me immediately that a consolidation was doable, but they would have to check about eligibility for a product change.

I was not eligible to PC the Bank Americard into a CCR, so decided on consolidation.  The CCR is now my second highest revolving limit, and probably has better rewards than the first and third.

The process was quick and painless.  The call was initiated through chat in the mobile app and everything was done in under seven minutes, disclosures and all.

Thanks, everyone, for the insightful and helpful responses!  I look forward to reading others' experiences with these services, too, if anyone wants to share them.