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BoA premium --> cash rewards downgrade?

arkane
Established Contributor

Re: BoA premium --> cash rewards downgrade?


@FinStar wrote:

@BrutalBodyShots wrote:

@Muffinman83 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/

 

 


By far the "easiest" (least opportunity cost I should say) is to open an IRA with Merrill Lynch and roll your 401k into there. Parking 100k+ into a 0% checking and 0.01% savings is silly. Brokerage may not be for everyone.

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6/8/20:

Message 41 of 41
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