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Bank of America Cash Rewards 3% category

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galahad15
Valued Contributor

Re: Bank of America Cash Rewards 3% category

Unless I am looking for the option in the wrong place, BoA won't currently let me change my 3% rewards category, I am still getting the message that says "Soon, you'll be able to choose the category where you want to earn 3% cash back"(?)


Message 11 of 50
Anonymous
Not applicable

Re: Bank of America Cash Rewards 3% category

Here's the official terms about it: https://www.managerewardsonline.bankofamerica.com/cms/published/root/duo/sharedContent/pdf/dcbrwd/IN...

 

I'm not seeing the ability to change it yet either.

 

To those who have seen the option, does it look like it's per-customer or per-account? (See https://ficoforums.myfico.com/t5/Credit-Card-Applications/BofA-Cash-Rewards-2/m-p/5443408)

Message 12 of 50
kdm31091
Super Contributor

Re: Bank of America Cash Rewards 3% category

The official BOA page is live now (for new apps anyway) and under rewards it breaks down the categories more for those were curious. It's actually pretty thorough.

 

https://www.bankofamerica.com/credit-cards/products/cash-back-credit-card/

 

category details : https://www.bankofamerica.com/credit-cards/products/cash-back-credit-card/cash-back-category-choices...

 

It looks like the 10% bonus for just being a customer is gone now. I only see the Preferred bonuses.

 

Still not seeing an option to switch it for my exising acct though

Message 13 of 50
MrCreditInternational
Frequent Contributor

Re: Bank of America Cash Rewards 3% category

Also the SUB is down to 150$ after 500$ spend
Schwab Amex Platinum (NPSL); Amex Gold (NPSL); HH Aspire (31,700); Amex BBP (27,000); HSBC Premier WMC (18,000); USB Altitude Reserve (10,000); Chase Sapphire Preferred (5,800), Delta Platinum (5,000); Apple Card (4,750); USB Altitude Go (1,000)

Started collecting cards: Oct/2018
Message 14 of 50
Anonymous
Not applicable

Re: Bank of America Cash Rewards 3% category

For the life of me I don’t see the ability to change the categories on my log in.

Also if the 10% isn’t available for the bonus, this card goes in the SD. I’m not parking 100k in BA (or even 20) when I can make a better return in the market with free trades (as opposed to ML).
Message 15 of 50
kdm31091
Super Contributor

Re: Bank of America Cash Rewards 3% category

Definitely seems the 10 percent bonus is gone
Message 16 of 50
Anonymous
Not applicable

Re: Bank of America Cash Rewards 3% category


@Anonymous wrote:
For the life of me I don’t see the ability to change the categories on my log in.

Also if the 10% isn’t available for the bonus, this card goes in the SD. I’m not parking 100k in BA (or even 20) when I can make a better return in the market with free trades (as opposed to ML).

Agreed.  I actually opened a savings account in anticipation of the changes! I did see the announcement in my recent statement with the following:

 

"Flexible redemption options to help meet your needs

You will be able to redeem your cash rewards for any amount, anytime for statement credits and deposits made directly into an eligible Bank of America® or Merrill Lynch® account. You can also save for college by redeeming as little as $25 as a contribution into a qualifying 529 account with Merrill Lynch®. Either way, you are in control of how you redeem your rewards (Footnote 2).
Your relationship is rewarded on every purchase

You will receive a 10% customer bonus when you have an active Bank of America checking or savings account. The customer bonus will now be awarded when you make your purchase, and does not depend on how or when you redeem your cash back rewards."

 

Regarding purchases as of 11 January, I can see in my account that I've received the 10% bonus already, and I am able to redeem directly now - there is not a $25 threshold.

The category options showed up in my online account 12 January, and mobile yesterday.  I haven't made a purchase since Friday, however, to test the new parameters.

Message 17 of 50
galahad15
Valued Contributor

Re: Bank of America Cash Rewards 3% category

Update:  my account is still showing up with the $25 minimum redemption amount and the 10% bonus language appears to still be there.  Also still no option to change 3% rewards categories atm.


Message 18 of 50
Anonymous
Not applicable

Re: Bank of America Cash Rewards 3% category

The 10% bonus is definitely still alive and well.

 

10% Customer Bonus: A 10% Customer Bonus will be added to the Cash Rewards you earn on Net Purchases if either the primary or joint cardholder has an active consumer (non-business) checking, savings or individual retirement account with Bank of America, N.A. (“qualifying account”), or is a client of Merrill Edge®, Merrill Lynch, Pierce, Fenner & Smith Incorporated or U.S. Trust (excluding 401(k) or other employer sponsored plans and some 529 plans). To earn the Customer Bonus, your qualifying account must be open and maintain an average daily balance of greater than $0 or have had a deposit within 90 days. It may take up to 45 days to begin earning the Customer Bonus on purchases when you open a qualifying account. Account opening bonuses are excluded from the Customer Bonus. Other significant terms apply. Program subject to change.

 

Source: https://www.managerewardsonline.bankofamerica.com/cms/published/root/duo/sharedContent/pdf/dcbrwd/IN...

Message 19 of 50
CluelessJohn
Contributor

Re: Bank of America Cash Rewards 3% category

I was able to select a 3% category for my BOA Cash Rewards card and a different 3% category for my co-branded MLB Cash Rewards card.  Minimum redemptions have been lifted.  All done through the app this morning.

 

Chase Freedom Visa ($15K) Chase Freedom Flex ($15K) Chase Amazon Prime ($9K) USAA Limitless ($20K) AMEX BCE ($30K) CapOne QuickSilver ($15K) Citi DC ($20.5K) Citi Custom Cash ($5K) Discover It ($7.5K) BOA Cash Rewards ($5K) BOA MLB ($13K) USBank Cash+($10K) WF Active Cash ($8K)
FICO 8 ~800
Message 20 of 50
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