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@Anonymous wrote:Has anyone ever seen a > $200 SUB targeted offer or anything on the cash rewards card? I have not heard of one, but I figured I'd ask.
Not in recent memory no. If you already have a premium rewards, get the travel rewards instead then transfer points over to PR so you can redeem them for 1 cpp flat.
I don't have the PR; I have no BoA cards at all... was just looking to scoop one up for the highest SUB possible and try and end up with the cash rewards card in the end to have something that I'd find value in, like a 3% category not currently covered with the cards I have.
@Anonymous wrote:. No real reason for it, as there are very few models that even care, but it's just a personal thing since I don't have a lot of cards I always have a goal of maintaining a high ACL... quality over quantity I suppose.
As you said, personal! Personally, I don't equate a high CL with quality, for me a high-quality card is one with rich rewards/perks for my spend. A 15% cashback card with a $5K CL would be fine!
@arkane wrote:
If you already have a premium rewards, get the travel rewards instead then transfer points over to PR so you can redeem them for 1 cpp flat.
@arkane, thanks for that point. I am considering the Premium or Travel Rewards cards and checked the fine print after you posted. So it looks like cash redemptions on Travel Rewards start at 2,500 points but are only worth 6/10 of a penny but Premium Rewards also start cash redemption at 2,500 points but redeem for a full penny-a-piece? (better value)
So, another question. I see that the Travel Rewards (when used for travel purchases in the travel center) pays a bonus 1.5 points so you are effectively getting 3-points per dollar (or roughly 3%?) when used for travel? But it appears the Premium Rewards does not have this feature?? It would seem the Travel Rewards is overall a better value if you plan to use for travel, not only for not having the AF but also for giving you 3% back on everything. But of course, that depends on how competitive the pricing is in the Travel Center. What are your experiences with this?
And can you move points from Travel Rewards to Cash Rewards also to get the full 1% back, or only to Premium Rewards?
Also, for anyone who has the Premium Rewards Program bonuses, are they paid monthly as points are accrued or only when you go to redeem? For example, if I had 10,000 points earned from purchases and was in the "Platinum" level PR program, would my points bonus reflect the 50% bonus (15,000 points) before I go to redeem? And then, if I had the Travel Rewards card, I could use them for up to 30,000 points value with the 50% additional bonus? Just want to make sure I'm understanding how this works.
@longtimelurker wrote:As you said, personal! Personally, I don't equate a high CL with quality, for me a high-quality card is one with rich rewards/perks for my spend. A 15% cashback card with a $5K CL would be fine!
Yup, different strokes for different folks. As I said though, some scoring models do consider ACL, so it can "matter" at least at times.
@longtimelurker wrote:
@Anonymous wrote:. No real reason for it, as there are very few models that even care, but it's just a personal thing since I don't have a lot of cards I always have a goal of maintaining a high ACL... quality over quantity I suppose.
As you said, personal! Personally, I don't equate a high CL with quality, for me a high-quality card is one with rich rewards/perks for my spend. A 15% cashback card with a $5K CL would be fine!
Agreed with but one caveat: the CL must be large enough to support large purchases (arbitrary definition), so in my mind, I'd still need a CL of at least 8K for it to be worthwhile.
@Aim_High wrote:
@arkane wrote:
If you already have a premium rewards, get the travel rewards instead then transfer points over to PR so you can redeem them for 1 cpp flat.@arkane, thanks for that point. I am considering the Premium or Travel Rewards cards and checked the fine print after you posted. So it looks like cash redemptions on Travel Rewards start at 2,500 points but are only worth 6/10 of a penny but Premium Rewards also start cash redemption at 2,500 points but redeem for a full penny-a-piece? (better value)
Yes
So, another question. I see that the Travel Rewards (when used for travel purchases in the travel center) pays a bonus 1.5 points so you are effectively getting 3-points per dollar (or roughly 3%?) when used for travel? But it appears the Premium Rewards does not have this feature?? It would seem the Travel Rewards is overall a better value if you plan to use for travel, not only for not having the AF but also for giving you 3% back on everything. But of course, that depends on how competitive the pricing is in the Travel Center. What are your experiences with this?
My honest answer is I'm not really sure because I haven't bothered since my Uber Visa also earns 3% on travel but with no strings attached. But just now I checked the price of a trip on Google Flights vs BoA Travel Center, and disappointingly the prices were $50-100 higher with BoA depending on the carrier. This is just one datapoint at one point in time though so as always YMMV.
And can you move points from Travel Rewards to Cash Rewards also to get the full 1% back, or only to Premium Rewards?
Nope to Premium Rewards only. Cash Rewards doesn't use "points" so won't let you do the transfer. Also they recently eliminated the min redemption requirement ($25) on the Cash Rewards, but that threshold (2500 points) is still there on the Premium and Travel Rewards, so it's very unlikely that'll change anytime soon.Also, for anyone who has the Premium Rewards Program bonuses, are they paid monthly as points are accrued or only when you go to redeem? For example, if I had 10,000 points earned from purchases and was in the "Platinum" level PR program, would my points bonus reflect the 50% bonus (15,000 points) before I go to redeem? And then, if I had the Travel Rewards card, I could use them for up to 30,000 points value with the 50% additional bonus? Just want to make sure I'm understanding how this works.
They changed it recently so you now earn the bonus as the transaction is posted, so BEFORE you redeem. Not sure about your 30k points with Travel Rewards, do you mean would you get the 50% bonus if you transferred? The answer is no, since all preferred rewards bonuses are now calculated as the transaction is posted, NOT upon redemption.
@Anonymous wrote:
A lot of the perks with boa cards are enhanced if you are a preferred client. Levels of 25k, 50k and 100k of combined balances on boa accounts will get you big increases in bonuses. I just grabbed the cash rewards and as a platnium client I get a 50% increase on bonus. 16k sl for data point.
Hopefully you have brokerage/IRA with Merrill Lynch and not wasting all that money away in a savings (or god forbid, checking) account.
@Anonymous wrote:
A lot of the perks with boa cards are enhanced if you are a preferred client. Levels of 25k, 50k and 100k of combined balances on boa accounts will get you big increases in bonuses. I just grabbed the cash rewards and as a platnium client I get a 50% increase on bonus. 16k sl for data point.
What is a preferred client?
@Anonymous wrote:
@Anonymous wrote:
A lot of the perks with boa cards are enhanced if you are a preferred client. Levels of 25k, 50k and 100k of combined balances on boa accounts will get you big increases in bonuses. I just grabbed the cash rewards and as a platnium client I get a 50% increase on bonus. 16k sl for data point.What is a preferred client?
Unless you're willing to park substantial funds into BoA (>$20K), not sure how you'd benefit from it. The info is on the BoA site btw:
https://www.bankofamerica.com/preferred-rewards/details/