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BankAmericard Platinum Plus Visa

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jm1991
Regular Contributor

BankAmericard Platinum Plus Visa

So i decided to do a product change from my regular BoA card visa to the Cash rewards cards. I did an online chat with the representative and i told him i wanted to change my account to the cash rewards with no annual fee. He said it was possible and he would submit the application. I thought it all went through fine but i found out that they actually changed it to the BankAmericard Platinum Plus with Cash rewards. I looked at what it offered and it says i need to pay 75 annually if i dont have 50k in my checkings account (which i dont have) . https://www.bankofamerica.com/platinumprivileges/special-pricing/credit-card.go

i dont think im even qualified for this card after reading the FAQs? https://www.bankofamerica.com/platinumprivileges/frequently-asked-questions.go?request_locale=en_US

would changing it to the basic cash rewards that i actually wanted with no annual fee hurt my credit in any way? 

Marriott Premier SV: $8,500 Amex blue sky: $24,000 BoA BBR: $3,900 BoA Cash Rewards: $9,100 Ritz Carlton: $5,000 Discover: $5,000
MyFico Score:752
Message 1 of 6
5 REPLIES 5
ztnjpv
Established Contributor

Re: BankAmericard Platinum Plus Visa

Something sounds odd. Not sure why they would ever automatically submit the app for the Platinum Privileges. 

 

Either way, to see if it's worthwhile, just consider the perks of having it over the regular Cash Rewards and see if the AF more than offsets the extra rewards. It's all about how much you spend. 

 

you get basically 1.5% on everything, 3% on grocery stores/supermarkets and 4.5% on gas with $75 AF vs. 1.1, 2.2, 3.3 for same with regular cash rewards and no AF.

Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!
Message 2 of 6
dodgerslv
Valued Contributor

Re: BankAmericard Platinum Plus Visa


@jm1991 wrote:

So i decided to do a product change from my regular BoA card visa to the Cash rewards cards. I did an online chat with the representative and i told him i wanted to change my account to the cash rewards with no annual fee. He said it was possible and he would submit the application. I thought it all went through fine but i found out that they actually changed it to the BankAmericard Platinum Plus with Cash rewards. I looked at what it offered and it says i need to pay 75 annually if i dont have 50k in my checkings account (which i dont have) . https://www.bankofamerica.com/platinumprivileges/special-pricing/credit-card.go

i dont think im even qualified for this card after reading the FAQs? https://www.bankofamerica.com/platinumprivileges/frequently-asked-questions.go?request_locale=en_US

would changing it to the basic cash rewards that i actually wanted with no annual fee hurt my credit in any way? 


i believe you were misinformed by the CSR. You cannot PC to the Privilege Cash Rewards. I tried a few months back and said it was not possible. You will most likely get the regular Cash Rewards with the no AF.

gardening since 5/21/2016
Message 3 of 6
jm1991
Regular Contributor

Re: BankAmericard Platinum Plus Visa

On my account names online it was changed to  BankAmericard Platinum Plus Visa. i havent gotten then card yet so i dont know. i guess ill have to call in and ask if it does have an annual fee or not. 

Marriott Premier SV: $8,500 Amex blue sky: $24,000 BoA BBR: $3,900 BoA Cash Rewards: $9,100 Ritz Carlton: $5,000 Discover: $5,000
MyFico Score:752
Message 4 of 6
ztnjpv
Established Contributor

Re: BankAmericard Platinum Plus Visa

And to follow up on what dodgerslv said:

 

 

$100 per week average at grocery stores/supermarkets and walmart SC is $5200 per year.

 

That's 5200 x .022 with regular cash rewards = 114 per year

with the Plat Priv it's x .03 = 156 per year

 

On gas, say you spend $3600. 

 

.033 with reg is 119

.045 with PP is 162

 

233 vs. 318-75= 243

 

Not worth the fuss....

Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!
Message 5 of 6
ztnjpv
Established Contributor

Re: BankAmericard Platinum Plus Visa

Platinum Privileges is not Platinum Plus AFAIK...but I could be wrong...

Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!
Message 6 of 6
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