Better Balance Rewards Question!

Anonymous · ‎10-10-2016

Hey guys,

I'm hoping someone can help me here with my Bank of America BBR rewards card. This month I had a credit post and now my statement that is due on November 6th is reporting a credit that carried over in the amount of $19.21. I'm not sure what to do to still qualify for the next quarter as the credit already carried over. Do I still make a payment? If so, in what amount? This card is confusing so I want to be sure I don't disqualify myself for the next quarter. Here's what my Balance / Statement said:

Due Date: 11/06/2016

Account Balance: 19.21(CR)

Any help would be appreciated!

AverageJoesCredit · ‎10-10-2016

Confusing indeed

i have one too, only about 6 months old but its my understanding the $25 rewards that you can have applied as a statement credit would not be considered a payment or used for payment. Nor would i think it would qualify for a purchase. I would buy something and just make sure you paid more than the minimum. If all else fails call a csr to ask about how this works. Good luck

Anonymous · ‎10-10-2016

Few options here. Call in and have the credit reversed. Have it deposited to your boa savings/checking, or non boa acct.

Or leave it be, and make a purchase more than enough to cover the credit, and I would make sure its at least 10-25 bucks.

If it were me, I would also: 1. Open a boa savings account and leave 300 parked in there to avoid fees. 2. Apply for two more BBRs.

Then transfer your $30 to a high yield account. Easy to get 5% but has a very low amount, or do 3% with LMCU. :-)

Anonymous · ‎10-10-2016

@Anonymous wrote:
Few options here. Call in and have the credit reversed. Have it deposited to your boa savings/checking, or non boa acct.

Or leave it be, and make a purchase more than enough to cover the credit, and I would make sure its at least 10-25 bucks.

If it were me, I would also: 1. Open a boa savings account and leave 300 parked in there to avoid fees. 2. Apply for two more BBRs.

Then transfer your $30 to a high yield account. Easy to get 5% but has a very low amount, or do 3% with LMCU. :-)

Would making a purchase now change anything as the bill/statement has already been generated? So say I make a $25 purchase today, would that change the balance to report the difference?

UFGuy2006 · ‎10-10-2016

@Anonymous wrote:
@Anonymous wrote:
Few options here. Call in and have the credit reversed. Have it deposited to your boa savings/checking, or non boa acct.

Or leave it be, and make a purchase more than enough to cover the credit, and I would make sure its at least 10-25 bucks.

If it were me, I would also: 1. Open a boa savings account and leave 300 parked in there to avoid fees. 2. Apply for two more BBRs.

Then transfer your $30 to a high yield account. Easy to get 5% but has a very low amount, or do 3% with LMCU. :-)
Would making a purchase now change anything as the bill/statement has already been generated? So say I make a $25 purchase today, would that change the balance to report the difference?

Unfortunately I don't think so. The statement has already generated with a credit balance. My gut says this technically this statement cycle will not count for you this quarter given the fact there is no minimum balance due to pay over.

Anonymous · ‎10-10-2016

@UFGuy2006 wrote:
@Anonymous wrote:
@Anonymous wrote:
Few options here. Call in and have the credit reversed. Have it deposited to your boa savings/checking, or non boa acct.

Or leave it be, and make a purchase more than enough to cover the credit, and I would make sure its at least 10-25 bucks.

If it were me, I would also: 1. Open a boa savings account and leave 300 parked in there to avoid fees. 2. Apply for two more BBRs.

Then transfer your $30 to a high yield account. Easy to get 5% but has a very low amount, or do 3% with LMCU. :-)
Would making a purchase now change anything as the bill/statement has already been generated? So say I make a $25 purchase today, would that change the balance to report the difference?
Unfortunately I don't think so. The statement has already generated with a credit balance. My gut says this technically this statement cycle will not count for you this quarter given the fact there is no minimum balance due to pay over.

sounds about right. call in and have the rewards reversed and applied to checking account instead?

Anonymous · ‎10-10-2016

@Anonymous wrote:
@UFGuy2006 wrote:
@Anonymous wrote:
@Anonymous wrote:
Few options here. Call in and have the credit reversed. Have it deposited to your boa savings/checking, or non boa acct.

Or leave it be, and make a purchase more than enough to cover the credit, and I would make sure its at least 10-25 bucks.

If it were me, I would also: 1. Open a boa savings account and leave 300 parked in there to avoid fees. 2. Apply for two more BBRs.

Then transfer your $30 to a high yield account. Easy to get 5% but has a very low amount, or do 3% with LMCU. :-)
Would making a purchase now change anything as the bill/statement has already been generated? So say I make a $25 purchase today, would that change the balance to report the difference?
Unfortunately I don't think so. The statement has already generated with a credit balance. My gut says this technically this statement cycle will not count for you this quarter given the fact there is no minimum balance due to pay over.
sounds about right. call in and have the rewards reversed and applied to checking account instead?

If I do that would that make it count again? This card is not user-friendly lol

Anonymous · ‎10-10-2016

@Anonymous wrote:

If I do that would that make it count again? This card is not user-friendly lol

It's hard to fault BoA for putting a few small roadblocks to the (highly unprofitable) way people are using the rewards structure of the BBR.

Anonymous · ‎10-10-2016

@Anonymous wrote:
@Anonymous wrote:
@UFGuy2006 wrote:
@Anonymous wrote:
@Anonymous wrote:
Few options here. Call in and have the credit reversed. Have it deposited to your boa savings/checking, or non boa acct.

Or leave it be, and make a purchase more than enough to cover the credit, and I would make sure its at least 10-25 bucks.

If it were me, I would also: 1. Open a boa savings account and leave 300 parked in there to avoid fees. 2. Apply for two more BBRs.

Then transfer your $30 to a high yield account. Easy to get 5% but has a very low amount, or do 3% with LMCU. :-)
Would making a purchase now change anything as the bill/statement has already been generated? So say I make a $25 purchase today, would that change the balance to report the difference?
Unfortunately I don't think so. The statement has already generated with a credit balance. My gut says this technically this statement cycle will not count for you this quarter given the fact there is no minimum balance due to pay over.
sounds about right. call in and have the rewards reversed and applied to checking account instead?
If I do that would that make it count again? This card is not user-friendly lol

no guarantees. but its worth a call.

Anonymous · ‎10-11-2016

Lol. Just learned I got screwed over with the same exact problem.

1) Switch to direct deposit redemption immediately

2) You always need a balance to report when your statement generates if you want rewards

3) You always have to make a payment equal to or greater than your minimum balance due if you want rewards

4) As stated above, statement credit does not count as a payment, so make a payment even if your balance is paid off (from your statement credit)!

5) Then, call them or chat with them and say you want to transfer your credit balance into your bank account (yes this is possible, I've done it)