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BOA Premium Rewards Kick In Period

ccquest
Established Contributor

Re: BOA Premium Rewards Kick In Period

You don't need to be in Preferred Rewards to get the Premium Rewards card do you? Just a "suggestion" isn't it?

Congrats either way on establishing the relationship!
as of 11/29/21
Current Cards:
Message 11 of 34
credit_endurance
Valued Contributor

Re: BOA Premium Rewards Kick In Period


@ccquest wrote:
You don't need to be in Preferred Rewards to get the Premium Rewards card do you? Just a "suggestion" isn't it?

Congrats either way on establishing the relationship!

Thanks @ccquest . No. You don't have to be an preferred rewards customer to obtain the premium rewards card but, it will give you a leg up in the application process as data points have been confirmed of this. Hope that helps! 

Starting FICO08 Scores 2016 All in the mid 500’s
Current FICO08 Scores AUG 2021 (TU 770) (EQ 775) (EXP 762)

“The credit is no longer bruised, it has endured the test of time” (formally know as bruisedcredit)

Garden Party Until July 2022….Chase 4/24
Message 12 of 34
Canadian-In-Seattle
Established Contributor

Re: BOA Premium Rewards Kick In Period

They can't even figure out themselves when you will get the status, and you need to call and push for it if you want it sooner. 

 

When I enrolled in it a few years ago I qualified by moving an investment account into Merrill Edge. The money in there counts towards the PR status. So then I waited for the status, and after three months--still no status. 

 

So I called them, and tried getting someone to explain the calculation to me. I escalated through several people, each one of which gave me a different story about how it was calculated. Each time I threw their formula into a spreadsheet and it always showed I should qualify. Finally I got to some manager and he put my numbers in his own spreadsheet--and couldn't figure out why I didn't qualify. So he eventually just flipped the status on for me. 

 

Earlier this year I liquidated the investment account and used the money as down payment to buy a house, so, I don't qualify for preferred rewards status anymore because I don't have the money there (mortage not with them either). Guess what? Six months later--I still have status. This time I'm not escalating Smiley Happy Let's see how long it takes them to figure that out.

Amex BCE $40k || BoA Travel $5k || FirstTech MC $5k || BECU PLoC $10k || Discover Miles $27.7k || CITI DC $27.5k || CHASE Amazon $12.5k || BoA Premium Rewards $31k || BoA Cash Rewards 26k || Mortgage 07-2020 // AU on DW's Costco Visa $12k

FICO8 805
Last Inq 06/2020
Message 13 of 34
coldfusion
Community Leader
Super Contributor

Re: BOA Premium Rewards Kick In Period


@Canadian-In-Seattle wrote:

They can't even figure out themselves when you will get the status, and you need to call and push for it if you want it sooner. 

 

When I enrolled in it a few years ago I qualified by moving an investment account into Merrill Edge. The money in there counts towards the PR status. So then I waited for the status, and after three months--still no status. 

 

So I called them, and tried getting someone to explain the calculation to me. I escalated through several people, each one of which gave me a different story about how it was calculated. Each time I threw their formula into a spreadsheet and it always showed I should qualify. Finally I got to some manager and he put my numbers in his own spreadsheet--and couldn't figure out why I didn't qualify. So he eventually just flipped the status on for me. 

 

Earlier this year I liquidated the investment account and used the money as down payment to buy a house, so, I don't qualify for preferred rewards status anymore because I don't have the money there (mortage not with them either). Guess what? Six months later--I still have status. This time I'm not escalating Smiley Happy Let's see how long it takes them to figure that out.


It reads like you don't fully understand the program either.

 

Once an individual qualifies for membership, they remain a member for at least 12 months even if their investment total drops below the membership threshold.

 

Probably more relevant in your particular case, a current member whose investment total drops below the membership threshold will continue to hold membership through the rest of that calendar year even if their investment total remains below the threshold. 

 

After the 1st week of February if you're still listed as a current member it's open season.

 

 



(1/2022)
FICO 8 (EX) 807 (TU) 834 (EQ) 830
FICO 9 (EX) 834 (TU) 842 (EQ) 843

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 14 of 34
Canadian-In-Seattle
Established Contributor

Re: BOA Premium Rewards Kick In Period

Ah ok, well that makes sense.

 

I still stand by that BoA employees have no idea what makes you qualify, based on no-one being able to explain it back when I qualified, up to and including some 3rd level manager who put what he believed into a spreadsheet and concluded I should have qualified, but didn't. 

Amex BCE $40k || BoA Travel $5k || FirstTech MC $5k || BECU PLoC $10k || Discover Miles $27.7k || CITI DC $27.5k || CHASE Amazon $12.5k || BoA Premium Rewards $31k || BoA Cash Rewards 26k || Mortgage 07-2020 // AU on DW's Costco Visa $12k

FICO8 805
Last Inq 06/2020
Message 15 of 34
coldfusion
Community Leader
Super Contributor

Re: BOA Premium Rewards Kick In Period

BoA is much like Verizon in many ways lol

 

as a customer they can often come across as a bunch of buffoons but when you reach deep [not speaking as a customer here] they have the organizational and technical wherewithal including brainpower to accomplish the near-impossible.    Extremely clueful and resourceful at their respective cores. 

 

 

 



(1/2022)
FICO 8 (EX) 807 (TU) 834 (EQ) 830
FICO 9 (EX) 834 (TU) 842 (EQ) 843

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 16 of 34
TSlop
Valued Contributor

Re: BOA Premium Rewards Kick In Period

I lucked out and got an email from Merrill Lynch Wealth Management about a $300 SUB for a checking account back in November. I was already waiting for my 3 month average to kick in for Preferred Rewards (this month), so I don't know if that had anything to do with the timing of the offer.

 

Anyway, I talked with someone yesterday over the phone to open the checking account and to ensure that I have the 3 month average, and already today it is showing the Preferred Rewards status in the upper right of my account screen. I was signed up for emails to alert me when I met the criteria, but I never received one when it took hold. I don't know what would have happened if I didn't mention it to the rep and just let it play its course.

 

Time to take my BoA PR out of the SD and start using it! I just requested a new card so that I can have a contactless one.


Message 17 of 34
credit_endurance
Valued Contributor

Re: BOA Premium Rewards Kick In Period


@TSlop wrote:

I lucked out and got an email from Merrill Lynch Wealth Management about a $300 SUB for a checking account back in November. I was already waiting for my 3 month average to kick in for Preferred Rewards (this month), so I don't know if that had anything to do with the timing of the offer.

 

Anyway, I talked with someone yesterday over the phone to open the checking account and to ensure that I have the 3 month average, and already today it is showing the Preferred Rewards status in the upper right of my account screen. I was signed up for emails to alert me when I met the criteria, but I never received one when it took hold. I don't know what would have happened if I didn't mention it to the rep and just let it play its course.

 

Time to take my BoA PR out of the SD and start using it! I just requested a new card so that I can have a contactless one.


Congrats on your PR status upgrade sucess! Mine is showing a January 2021 enrollment although the status has been obtained a couple weeks ago. Can't wait to grab the card and combine that with my cash rewards for some major savings. 

Starting FICO08 Scores 2016 All in the mid 500’s
Current FICO08 Scores AUG 2021 (TU 770) (EQ 775) (EXP 762)

“The credit is no longer bruised, it has endured the test of time” (formally know as bruisedcredit)

Garden Party Until July 2022….Chase 4/24
Message 18 of 34
TSlop
Valued Contributor

Re: BOA Premium Rewards Kick In Period


@credit_endurance wrote:

@TSlop wrote:

I lucked out and got an email from Merrill Lynch Wealth Management about a $300 SUB for a checking account back in November. I was already waiting for my 3 month average to kick in for Preferred Rewards (this month), so I don't know if that had anything to do with the timing of the offer.

 

Anyway, I talked with someone yesterday over the phone to open the checking account and to ensure that I have the 3 month average, and already today it is showing the Preferred Rewards status in the upper right of my account screen. I was signed up for emails to alert me when I met the criteria, but I never received one when it took hold. I don't know what would have happened if I didn't mention it to the rep and just let it play its course.

 

Time to take my BoA PR out of the SD and start using it! I just requested a new card so that I can have a contactless one.


Congrats on your PR status upgrade sucess! Mine is showing a January 2021 enrollment although the status has been obtained a couple weeks ago. Can't wait to grab the card and combine that with my cash rewards for some major savings. 


Mine shows a January 2021 enrollment as well... but I think I can get the bonus rewards now? The rep made it sound like I was immediately enrolled. I'll have to make a test purchase this week.


Message 19 of 34
Curious_George2
Valued Contributor

Re: BOA Premium Rewards Kick In Period


@TSlop wrote:

@credit_endurance wrote:

@TSlop wrote:

I lucked out and got an email from Merrill Lynch Wealth Management about a $300 SUB for a checking account back in November. I was already waiting for my 3 month average to kick in for Preferred Rewards (this month), so I don't know if that had anything to do with the timing of the offer.

 

Anyway, I talked with someone yesterday over the phone to open the checking account and to ensure that I have the 3 month average, and already today it is showing the Preferred Rewards status in the upper right of my account screen. I was signed up for emails to alert me when I met the criteria, but I never received one when it took hold. I don't know what would have happened if I didn't mention it to the rep and just let it play its course.

 

Time to take my BoA PR out of the SD and start using it! I just requested a new card so that I can have a contactless one.


Congrats on your PR status upgrade sucess! Mine is showing a January 2021 enrollment although the status has been obtained a couple weeks ago. Can't wait to grab the card and combine that with my cash rewards for some major savings. 


Mine shows a January 2021 enrollment as well... but I think I can get the bonus rewards now? The rep made it sound like I was immediately enrolled. I'll have to make a test purchase this week.


How is this going? 

 

TPG says says Merrill Lynch branded cards aren't eligible for the Preferred Rewards bonus. (Link) That sounds questionable but I thought it was worth mentioning.

 

I see from your sig that your Premium Rewards card is ML branded. Have you checked it and/or your Cash Rewards for the bonus yet?


Message 20 of 34
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