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BankAmerica Visa card bumps reward
12-13-2018, 03:10 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Sep 2007
Posts: 1,214
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BankAmerica Visa card bumps reward
Just got a mailing from Bank of America about their Cash Rewards card.
Beginning in January, you get to pick your own category for the 3% cashback bonus. Which is actually 5.25% at the Platinum Honors level ($100,000 at Merrill Lynch). No restrictions on how you redeem your reward.
2% (3.5%) at grocery stores & Sam's & Costco.
Good. I am SO SICK of having to remember which card is giving me 5% in different categories each quarter.
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12-13-2018, 03:26 PM
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#2
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Recycles dryer sheets
Join Date: Nov 2013
Posts: 238
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I just got this too. Have to figure out what is my best bet each month. So, does this mean that if I choose travel related for the month I pay off my cruise, I'm going to get my 3% plus 75% bump for platinum on the entire cruise amount - or is there a cap?
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12-13-2018, 03:40 PM
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#3
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Nov 2009
Posts: 6,698
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I got the email, too. I see how it says we can change it from month to month which is helpful because I have some spikes in at least one category they mentioned.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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12-13-2018, 03:41 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Aug 2010
Posts: 1,089
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 Quote:
Originally Posted by Debinnov a
I just got this too. Have to figure out what is my best bet each month. So, does this mean that if I choose travel related for the month I pay off my cruise, I'm going to get my 3% plus 75% bump for platinum on the entire cruise amount - or is there a cap?
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Gas is the same as before.
Grocery, Costco are the same.
The new ones are 3% for Travel, Dining, and DrugStore. They will be 5.25% for me.
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12-13-2018, 03:49 PM
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#5
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,145
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I need 3% for telecommunications!
And what is this generic “online shopping” category?
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Retired since summer 1999.
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12-13-2018, 06:03 PM
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#6
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jan 2018
Location: Tampa
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Quote:
Originally Posted by Debinnov a
I just got this too. Have to figure out what is my best bet each month. So, does this mean that if I choose travel related for the month I pay off my cruise, I'm going to get my 3% plus 75% bump for platinum on the entire cruise amount - or is there a cap?
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It is limited to the 2500 quarterly max for the combined 2% and 3% categories.
I have payments coming up in a cruise next year, so I in the same ahem boat.
Edit - I now recall that currently when I spent on the expense which took me over the 2500 limit, they allowed the % credit on the entire expense, so maybe it could work out.
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TGIM
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12-13-2018, 06:07 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
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Location: Tampa
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If one has 100k at ML/BOA, these cards are quite good. One will just have to keep track of the quarterly expenses up to the 2,500 limit. I currently have 2 of these cards.
I will substitute my Premier card for Dining and Travel to go from 3.5% to 5.25% and there are no annual fees.
__________________
TGIM
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12-13-2018, 06:33 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Posts: 3,413
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Quote:
Originally Posted by fh2000
Gas is the same as before.
Grocery, Costco are the same.
The new ones are 3% for Travel, Dining, and DrugStore. They will be 5.25% for me.
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Actually, you will have to choose gas as your three percent category now. Before it was set at three percent. In my experience, they are the only card to recognize Safeway gas stations as gas expenditures.
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12-13-2018, 06:53 PM
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#9
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Give me a museum and I'll fill it. (Picasso)
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Location: Tampa
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Quote:
Originally Posted by Another Reader
Actually, you will have to choose gas as your three percent category now. Before it was set at three percent. In my experience, they are the only card to recognize Safeway gas stations as gas expenditures.
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Technically not really. The gas category will be the default category and will only change if you choose a different category.
__________________
TGIM
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12-14-2018, 04:45 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Sep 2007
Posts: 1,214
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5.25% on gas is good. Currently I use the PenFed card for gas (and only for gas). since they changed their categories a couple of years ago, 5% on gas is the only thing that is worthwhile. So now PenFed card will go back in the safe.
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12-14-2018, 05:13 AM
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#11
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Give me a museum and I'll fill it. (Picasso)
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Join Date: May 2005
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Quote:
Originally Posted by rayvt
5.25% on gas is good. Currently I use the PenFed card for gas (and only for gas). since they changed their categories a couple of years ago, 5% on gas is the only thing that is worthwhile. So now PenFed card will go back in the safe.
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Why? If I had 5% on gas already I would choose a different category for this card and have at least 5% on two different kinds of purchases...
I think I am going to have to move money into ML... have been thinking about it for awhile but have not done anything about it so far...
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12-14-2018, 05:52 AM
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#12
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Give me a museum and I'll fill it. (Picasso)
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Location: Rio Grande Valley
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Anyone have any idea what that online shopping category is?
That’s the only one I would use as my other cards give same or better rates in the other categories.
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12-14-2018, 06:04 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,522
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Quote:
Originally Posted by fh2000
Gas is the same as before.
Grocery, Costco are the same.
The new ones are 3% for Travel, Dining, and DrugStore. They will be 5.25% for me.
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I haven't received the email yet, or perhaps I deleted it without reading it. So what you are saying essentially is you get to pick an additional category in addition to gas and groceries and that category can change from month to month?
Sent from my iPad using Early Retirement Forum
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12-14-2018, 06:14 AM
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#14
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Give me a museum and I'll fill it. (Picasso)
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Location: Rio Grande Valley
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Quote:
Originally Posted by Golden sunsets
I haven't received the email yet, or perhaps I deleted it without reading it. So what you are saying essentially is you get to pick an additional category in addition to gas and groceries and that category can change from month to month?
Sent from my iPad using Early Retirement Forum
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No, gas is one of several 3% options. You only get one.
Groceries is already at 2%. 1% on everything else.
Gas will be the default 3% option. You can change the category.
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Retired since summer 1999.
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12-14-2018, 06:15 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,522
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Also if I recall correctly there is a foreign transaction fee for charges made outside the US, (unlike the BOA Travel and Premium cards) on the cash back card, so travel is a good choice for the extra category only if in the US.
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12-14-2018, 06:18 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,522
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Quote:
Originally Posted by audreyh1
No, gas is one of several 3% options. You only get one.
Groceries is already at 2%. So I suppose if you want you can choose it for the 3% option instead of one of the others.
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OK. So I think for our situation I should make groceries the 3% (5.25%) category and switch gas to our Premium card.
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"Luck favors the prepared mind"
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12-14-2018, 06:33 AM
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#17
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by Golden sunsets
OK. So I think for our situation I should make groceries the 3% (5.25%) category and switch gas to our Premium card.
Sent from my iPad using Early Retirement Forum
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Groceries are at 2%. It is not one of the 3% choices.
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TGIM
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12-14-2018, 06:38 AM
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#18
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by Golden sunsets
OK. So I think for our situation I should make groceries the 3% (5.25%) category and switch gas to our Premium card.
Sent from my iPad using Early Retirement Forum
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Sorry I later modified my response because groceries is not one of the 3% options.
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Retired since summer 1999.
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12-14-2018, 02:41 PM
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#19
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Full time employment: Posting here.
Join Date: Apr 2015
Posts: 580
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If you have a fair amount deposited in various BofA accounts there Visa Travel Rewards card is even better cash reward wise. The rewards points are based on your level of deposits. I easily get at least $2,000. back in cash each year for just charging everything.
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12-14-2018, 02:49 PM
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#20
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jan 2018
Location: Tampa
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Quote:
Originally Posted by Drake3287
If you have a fair amount deposited in various BofA accounts there Visa Travel Rewards card is even better cash reward wise. The rewards points are based on your level of deposits. I easily get at least $2,000. back in cash each year for just charging everything.
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Well sometimes. If one has >100k in BOA/ML then,
Travel card = 2.625% on everything
Cash rewards = 3.5% on the 2% categories, 5.25% on the 3% categories. Everything else is 1.75%.
No fees on either card.
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TGIM
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