For a frugal individual this makes more sense. The airline credit is pretty much only good for bags and it only works on certain carriers. I do like the Premium card but I'm still going to downgrade it
Mark - the big competition for this card within BoA itself is the Travel Rewards Card, but I still think that card is slightly stronger. You can redeem for travel (wide range of activities) and dining. Also, there's no foreign transaction fee on that card and everyone should have a card like that. Plus, you earn nice bonuses if you book through the BoA Travel porter with the Travel Card.
I just remembered I have this card from years ago now sitting on a drawer, and have platinum honors preferred since last month, well still not too late ⏰
@@benchoflemons398 Not everybody works a STEM job out of college. You guys love acting like amassing wealth is so easy yet you forget to include having six-figure salaries, forget having Mommy & Daddy pay for your college education, forget about free rent while living at home, forget about inheritances and trust funds. If all it took was financial literacy which the average American does possess, we'd all be millionaires. You need money to make money. But you knew that though. 🙃
@@danicoleb5394 you dont need money to make money lmao only the poor think that way bunch of people out there multi millionaires that started with no money or small amount
Good info. We already have the cash rewards card where we get 3.5% for groceries and club stores, 5.25% on online purchases (which we switch to home improvement when we have higher expenses there) and 1.75% on everything else. I wonder if we can use this card to up that 1.75% to the 2.625% level.
@@kiriltrenkoski - the Customized Cash Rewards card and the Unlimited Cash Rewards card. You need to have Platinum Honors status however, to get that 1.75x multiplier on the cash back.
Double Cash+Rewards+ for 2.22% on everything. Platinum is at 2.25% but you can keep your retirement count at the same place with possibly lower fees to offset that 3 cents per $100. but Platinum Honors does look very nice tho. Especially with customized cash for over 5% per category on whatever category you choose.
yeah not sure what boa is going to do about the cannibalism here. in fact i imagine their new black elite card will be doomed from the start… when compared to the premium rewards card and no AF travel rewards card, it seems useless
Isn't that how credit cards work? People with great credit scores (generally wealthier people) get low interest rates (and generally pay no interest) and people with bad credit scores (generally paycheck to paycheck people) get high interest rates and hammered with interest. Compounding is a powerful tool. Smart people make it work for you and not against you.
@@dh2266 I don't think that's how credit score work and to do with how people use their credit card, people have the choice not to use their credit card on some purchases if poor people want to increase their credit score, they would just buy a starbucks coffee with their credit card and just stop using the card or pay the card within the month so they could keep a low balance at the end of the month and their credit score would increase giving them more chance to apply for more credit card.
Once you got to the increase of $2.25 cashback portion of the video you mentioned it was better than the Apple card, so yes and no. For the most part yes, but as someone who buys Apple products/services often, Goes to Walgreens often using their pharmacy, and buys from Nike often (Im a major sneaker head) and uses Uber most weekends, these Im able to get 3% cashback via Apple pay and there are some other partnerships as well Apple has that get 3% back, not many but some. Just wanted to mention that, with that being said I do love all your videos and they are extremely informative, keep up the great work.
This card though, all spend counts for your return. In the TR card, it's just travel and dining (for now). If you have another card with no foreign transaction card, this card is worth it.
I received this complimentary offer. Will I still continue getting 3% cash back on gas? They offered it to switch. Meaning my account number will be the same. It will just replace my current credit card from bank of america to this. Instead of 1% cash back it ill be 1.5. Please let know. Thankfully Thanksgiving
you took me off the facebook page without any notice. I entered my wife's account and I didn't see any group rules anywhere. that's not fair. What a shame because I'm a fanatic.
I just got this card with 5k i also have the cash rewards red card with 10k and the strater card White card with 9k planing to couple the amount to the new card
I would have gotten this one if it were a mastercard... but since it is a visa, and I already have the Premium rewards card theres no benefit to adding this anymore...
I understand how some subprime cards are tarnishing the platinum title. They could have called their 'best' cards something else like the Emerald, Ruby, Quartz, Sterling, or any names that attracts anyone.
Looks good. I have the Premium Rewards card and if the extras from that don't hold up and I don't want to pay the $95 annual fee on it, this looks like a good product change option.
Hiii, I have the Premium Rewards card and mainly just use it for everything else besides dinning and travel expenses (I have amex platinum and gold as well). Do you think I should downgrade it and get this card for my everyday purchases? Thanks Shifu!
Just got sign up offer in the mail for Amex platinum for 150,000 points with the 10x bonus for the first year! Too bad I can’t justify the $695 a year annual fee😩
@@graysonsmith7031 It is tough to feel flattered when you will immediately spend $695 for a card. If it was the gold card offer I would have accepted that immediately.
@@zachd.873 because I’m fairly certain I’ll have to pay the $695 straight away and I cannot do that right before I go back to school and quit this current job
I don’t think that is the case, there are many people who have retirement investment accounts worth that much, yet they still are not rich. $100k isn’t that much when saving for retirement, it would only generate about $5000 a year in dividends if you wanted to live off it
Just got this card. Thanks for explaining some things :)
Bank of America stepping it up, bye bye Citi Double Cash. Having assets with Merrill is becoming more and more attractive.
BoA already had the best lineup if you are eligible for Platinum Honors and it just got that much sweeter
@@thegardencity92 although it didn't really even get sweeter. If you can use the $100 airline credit, the Premium Rewards card pays you $5.
For a frugal individual this makes more sense. The airline credit is pretty much only good for bags and it only works on certain carriers. I do like the Premium card but I'm still going to downgrade it
Preferred Rewards member? Good card.
Not a Preferred Rewards member? Average card.
Like button smashed? YES 💥
😂😂spot on mate
Mark - the big competition for this card within BoA itself is the Travel Rewards Card, but I still think that card is slightly stronger. You can redeem for travel (wide range of activities) and dining. Also, there's no foreign transaction fee on that card and everyone should have a card like that. Plus, you earn nice bonuses if you book through the BoA Travel porter with the Travel Card.
@@sjg6158 - I see your point! 👊
I got my this card in the mail was approved for 2k. Looking to build my credit responsibly this time around,
I just remembered I have this card from years ago now sitting on a drawer, and have platinum honors preferred since last month, well still not too late ⏰
i would've like to seen BofA come out with a card that competes with the CSP or Amex Plat
they dont need that. With Platinum honors, you get 5.25% cash back on the 3% category in their regular cash back card.
they have a black elite card now, but it’s not great. it is metal tho lol
I knew there was going to be a catch!
@@benchoflemons398 so what are you a doctor or something I've been saving for a year and only have two grand saved Because that's all I can afford
@@benchoflemons398 lol tell me your secrets then because I think your full of it
@@benchoflemons398 Not everybody works a STEM job out of college. You guys love acting like amassing wealth is so easy yet you forget to include having six-figure salaries, forget having Mommy & Daddy pay for your college education, forget about free rent while living at home, forget about inheritances and trust funds. If all it took was financial literacy which the average American does possess, we'd all be millionaires. You need money to make money. But you knew that though. 🙃
@@danicoleb5394 you dont need money to make money lmao only the poor think that way bunch of people out there multi millionaires that started with no money or small amount
Very interesting move by Bank of America but you really gotta be a preferred rewards member to take full advantage of it.
Good info. We already have the cash rewards card where we get 3.5% for groceries and club stores, 5.25% on online purchases (which we switch to home improvement when we have higher expenses there) and 1.75% on everything else. I wonder if we can use this card to up that 1.75% to the 2.625% level.
Which one is that?
@@kiriltrenkoski - the Customized Cash Rewards card and the Unlimited Cash Rewards card. You need to have Platinum Honors status however, to get that 1.75x multiplier on the cash back.
@@sudhisira That’s great,In your case it means you can sleep good at night, having all that lying around.
Double Cash+Rewards+ for 2.22% on everything. Platinum is at 2.25% but you can keep your retirement count at the same place with possibly lower fees to offset that 3 cents per $100. but Platinum Honors does look very nice tho. Especially with customized cash for over 5% per category on whatever category you choose.
And you can have multiple cash rewards cared for setting up different categories.
郝先生 我很喜歡你的信用卡頻道喔 . 因為你介紹的卡都是我實際會用的 CSR,FLEX, BOA etc ! 讚!
Isn't this just the Premium Rewards with less benefits and without the AF? Doesn't seem like there is much new here.
This is pretty much the same as the travel reward card...
yeah not sure what boa is going to do about the cannibalism here. in fact i imagine their new black elite card will be doomed from the start… when compared to the premium rewards card and no AF travel rewards card, it seems useless
I just got approved for this card. I'm so excited, it should be here , tomorrow.
How have you liked it?
Haha I just got approved for the card!
what kind of credit limits are they giving out?
@@KP99 only 500$
@@KP99 I got approved for $2500
@kathianaeugene what was your credit score at the time?
I don't think I'm willing to bank with Bank of America just to get 2.25% cash back. Probably not even for 2.62%.
Basically, the rich get richer lol.
true
Isn't that how credit cards work? People with great credit scores (generally wealthier people) get low interest rates (and generally pay no interest) and people with bad credit scores (generally paycheck to paycheck people) get high interest rates and hammered with interest.
Compounding is a powerful tool. Smart people make it work for you and not against you.
This kinda reminds me of Robin Hood.. lol
@@dh2266 I don't think that's how credit score work and to do with how people use their credit card, people have the choice not to use their credit card on some purchases if poor people want to increase their credit score, they would just buy a starbucks coffee with their credit card and just stop using the card or pay the card within the month so they could keep a low balance at the end of the month and their credit score would increase giving them more chance to apply for more credit card.
Once you got to the increase of $2.25 cashback portion of the video you mentioned it was better than the Apple card, so yes and no. For the most part yes, but as someone who buys Apple products/services often, Goes to Walgreens often using their pharmacy, and buys from Nike often (Im a major sneaker head) and uses Uber most weekends, these Im able to get 3% cashback via Apple pay and there are some other partnerships as well Apple has that get 3% back, not many but some. Just wanted to mention that, with that being said I do love all your videos and they are extremely informative, keep up the great work.
I'm just looking for a VISA to be able to pay at Costco since Costco doesn't take Mastercard
Please what platform can I Invest $@10,000 on a Long term ?.
You can try Stocks, Tesla or Crypto.
Forex,crypto,stocks, property that's where I make my multiple streams of income.
Crypto Trading is really a good Investment especially when you know how to trade or you have an expert trader guiding and managing your portfolio.
man this would be awesome if it didn't have foreign transaction fees.
if you are in diamond, do you geta black card ?
It's an okay card in my opinion but I'd prefer to go with the citi double cash
But the BofA Travel Rewards offers the same but with more benefits and no foreign transaction fees. This card is pointless.
This card though, all spend counts for your return. In the TR card, it's just travel and dining (for now). If you have another card with no foreign transaction card, this card is worth it.
@@sjg6158 The travel rewards is also 1.5 for all purchases and no limit. It’s the exact same for earning points.
I received this complimentary offer. Will I still continue getting 3% cash back on gas? They offered it to switch. Meaning my account number will be the same. It will just replace my current credit card from bank of america to this. Instead of 1% cash back it ill be 1.5. Please let know. Thankfully Thanksgiving
What are the other benefits like doesn’t have cell phone insurance and car rental insurance and luggage protection and all that
I’m reading no foreign transactions fees.
you took me off the facebook page without any notice. I entered my wife's account and I didn't see any group rules anywhere. that's not fair. What a shame because I'm a fanatic.
Which group, the credit dojo? I do have another moderator helping me with that, he may have done it. What’s your name on FB?
I just got this card with 5k i also have the cash rewards red card with 10k and the strater card White card with 9k planing to couple the amount to the new card
Is the citi double cash still the best no frills unlimited cash back card at 2.0%?
SoFi is a really good card too
@@thedavidruiz this is exactly the kind of card I was looking for. Thanks!
@@nugget1881 true! I don’t invest with SoFi so it seems like a hassle to start.
@@davidestradaflores gotchu! im signing up in few days
With this card can you carried a balance from one month to next month
I would have gotten this one if it were a mastercard... but since it is a visa, and I already have the Premium rewards card theres no benefit to adding this anymore...
I thought of getting Platinum instead of this one. what are you thoughts so far?
Great video! This card seems to try to compete with the Chase Freedom Unlimited.
does B of A give out good credit limits, like Chase and Amex?
Yeah I have 6k started a year ago
I’m reading no foreign transactions fees.
Confused, is it 100k in deposits only? If so a single 100k deposit or combined throughout a year?? Or is it 100k in merrel retirement accounts??
Platinum Honors is $100k or more in a 3 month daily average balance in all BoA deposit accounts and/or assets in Merrill investment vehicles.
I understand how some subprime cards are tarnishing the platinum title. They could have called their 'best' cards something else like the Emerald, Ruby, Quartz, Sterling, or any names that attracts anyone.
What’s the credit limit on this cards
Who funds this cb? Cant be coming out of interchange income otherwise what will be issuer earnings.
I finally have a reason to bank with bank of america
Is it metal??
Looks good. I have the Premium Rewards card and if the extras from that don't hold up and I don't want to pay the $95 annual fee on it, this looks like a good product change option.
Can you do an updated video on all the BoA boosted cash back family?
Hiii, I have the Premium Rewards card and mainly just use it for everything else besides dinning and travel expenses (I have amex platinum and gold as well). Do you think I should downgrade it and get this card for my everyday purchases?
Thanks Shifu!
yeah unless they add stuff to premium rewards
Be warned. It takes 4 months for the bonus to kick in AFTER you meet all requirements.
Better setup that merrill edge account ASAP
Not sure why people would get a BOA Cc anywho lol
😒
How do I pay this creo it’s card
Just got sign up offer in the mail for Amex platinum for 150,000 points with the 10x bonus for the first year! Too bad I can’t justify the $695 a year annual fee😩
Dude same here just this morning. I felt flattered, but not nearly flattered enough.
@@graysonsmith7031 It is tough to feel flattered when you will immediately spend $695 for a card. If it was the gold card offer I would have accepted that immediately.
Why not take it for the SUB and then downgrade to Gold/Green or close the card?
@@zachd.873 because I’m fairly certain I’ll have to pay the $695 straight away and I cannot do that right before I go back to school and quit this current job
@@HawkeyePanther11 damn, thats too bad, I just got the same offer and im tempted too lol
Can easily get the max cash back rate but no way in hell I will do business with boa.
Amen!!
i thought wells fargo was getting rid of all personal lines of credit
A credit card is not a line of credit. Two different products.
Would you explain to me what Wells Fargo means by there going to no longer extend credit cards or personal lines of credit anymore
Its a specific product, a line of credit, doesn't mean credit cards
retirement account balances don't count toward preferred rewards status
Woah, 2.6% cash back? I’m usually not a BoA fan, but this ones interesting! 🧐
It's exactly the same that you can get today with BofA travel rewards card (no foreign tx fee, no annual fee)
Premium Rewards card is even better.
@@dh2266 I agree, I was just pointing out that BofA already had 2.6% cashback card
These tiers have a high opportunity cost of having money locked up into crappy banks. Pass
It includes investment accounts with Merrill lynch
BOA is such a horrible company though ud be better with 1.5% back anywhere else
Facts!! No doubt
Already have the Premium Rewards card.
Man I have the 1% everything 3%online/Amazon shopping and 2% walmart/grocery and dinning
Never open a BoA account
i just got this as my first credit card at 18 lol
Bleh, Need $50k for it to be worth anything. Bleh! I Say!
Third
Segundo
FIRST! 🥇
Clickbait. If anyone had thousands of dollars they would care less about this card.
I don’t think that is the case, there are many people who have retirement investment accounts worth that much, yet they still are not rich. $100k isn’t that much when saving for retirement, it would only generate about $5000 a year in dividends if you wanted to live off it