Have the Premium Rewards Card with BofA
....Hoping to PC to the new Premium Rewards "ELITE" (clicky)
Seemingly it is possible, call to customer service they were able to find the boilerplate which includes a lot of gotcha's ...including any current rewards will not transfer and will be lost.
Fortutisouly, my statement cuts in a few days, by then pending charges should be cleared (and rewards available) and I'll then redeem these and *seemingly* be allowed to do this product change.
If any folks have preceeded me on this path -and have wisdom, please raise your hand! .....Meanwhile I'll come back in a few days and post how it all goes. My goal is simple PC without HP etc.
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I guess, you miss its hefty SUB, if you do this PC.
Fico8: EX~EQ~TU~840 (12 month goal~850).
@coldfusion wrote:They do now allow a PC from a standard Premium Rewards card to an Elite, assuming you have held the PR for at least 12 months and meet the mininum CL requirement. They did not allow it when the Elite was first released. There should not be a HP.
Thank you @coldfusion .
I'm guilty of not being familiar with this card until now, not sure how it went under my radar and somehow missed the posts here at MyFico regarding the card.
I'm on the fence, it works for me, but at the same time is it worth moving away from the original Premium Rewards card? If the ailine portal is as advertised -and truly has real market pricing then I wouldn't hesitate. I like the simplicity of this card and the point value is much more straightforward than AMEX where cardholders are handicapped on how we are allowedu to redeem ..and the maze of drama to effectively redeem points ...monthly Uber etc etc.
Thanks again.
@MachoHombre wrote:
@coldfusion wrote:They do now allow a PC from a standard Premium Rewards card to an Elite, assuming you have held the PR for at least 12 months and meet the mininum CL requirement. They did not allow it when the Elite was first released. There should not be a HP.
Thank you @coldfusion .
I'm guilty of not being familiar with this card until now, not sure how it went under my radar and somehow missed the posts here at MyFico regarding the card.
I'm on the fence, it works for me, but at the same time is it worth moving away from the original Premium Rewards card? If the ailine portal is as advertised -and truly has real market pricing then I wouldn't hesitate. I like the simplicity of this card and the point value is much more straightforward than AMEX where cardholders are handicapped on how we are allow you to redeem.
Thanks again.
Maybe this review will get you off the fence:
https://www.forbes.com/advisor/credit-cards/reviews/bank-of-america-premium-rewards-elite/
@coldfusion wrote:
@xenon3030 wrote:I guess, you miss its hefty SUB, if you do this PC.
Correct, there is no promotional bonus associated with this upgrade.
Yep on no sub if you upgrade/PC
A few other tid-bits:
[x] Currently held rewards don't transfer, and if you don't redeem them first you lose them! (so for me, I need to redeem them before I upgrade)
[x] Card number is likely to change, not like some of the PCs we're all accustomed to where your number stays the same.
[_] seemingly no HP ...and I'm not sure if BofA relationship play a part to access to this card
Personal Ramble ...while on the fence with this card, I'm now wondering if I app and *add* this card (instead of PC). Because no skin in the game for the eisting Premiium Reward card (covering annual fee is no brainer with airline incidentals), I suppose to harm to test this new card out while keeping the existing for a year while I try out the new card. Final note, this card make soooo much more sense for *me* than the AMEX Plat.
@MachoHombre wrote:
@coldfusion wrote:
@xenon3030 wrote:I guess, you miss its hefty SUB, if you do this PC.
Correct, there is no promotional bonus associated with this upgrade.
Yep on no sub if you upgrade/PC
A few other tid-bits:
[x] Currently held rewards don't transfer, and if you don't redeem them first you lose them! (so for me, I need to redeem them before I upgrade)
[x] Card number is likely to change, not like some of the PCs we're all accustomed to where your number stays the same.
[_] seemingly no HP ...and I'm not sure if BofA relationship play a part to access to this card
Personal Ramble ...while on the fence with this card, I'm now wondering if I app and *add* this card (instead of PC). Because no skin in the game for the eisting Premiium Reward card (covering annual fee is no brainer with airline incidentals), I suppose to harm to test this new card out while keeping the existing for a year while I try out the new card. Final note, this card make soooo much more sense for *me* than the AMEX Plat.
It seems to me that it would make sense to compare it to the Chase Sapphire Reserve, which it more closely resembles, than to the Amex platinum.
@SouthJamaica wrote:It seems to me that it would make sense to compare it to the Chase Sapphire Reserve, which it more closely resembles, than to the Amex platinum.
Yes, that's a fair statement. Nice comments on the topic from @coldfusion
The "must book through portal" (not singling out any particular bank/card) ....often times those rates are inflated so the net gain is actually a net loss. I haven't learned Chase and their ecosytstem so perhaps that's not completely fair to lump them in that statement. I have no relationship with Chase other than one card that only gets swiped for short duration car rental. Others may be able to give valuable feedback on the new BofA Elite and Chase Reserve.