The BEST Bank of America Catch-All Credit Card
Video Overview & Insights
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So if your work has its retirement plan through Merrill, does it qualify for the multiplier?
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In this video, we’re going to cover the best catch-all credit cards from the Bank of America lineup. Bank of America credit cards tend to be cards to consider in the late-stage to end-game in your credit card journey because of their multiplier structure with the Preferred Rewards program.
As you build your assets and net worth, specifically with Bank of America and Merrill Lynch, these credit cards become some of the most powerful earners on the market today.
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At the Platinum Honors level, these cards have the following multipliers:
The Unlimited Cash Rewards card has no annual fee and earns an unlimited 2.625% cash back on all purchases. With this card, you can redeem cash rewards for a statement credit, a direct deposit made directly into a Bank of America checking or savings account, or a deposit into a cash management or 529 account with Merrill for a redemption value of 1cpp.
Choice Select Mastercard has a 10x for points purchases but does that include points purchased on sale? There is currently a 40% off on points purchase in my Choice App.
I couldn’t find any video you did for this particular card
The Travel Rewards card also has no annual fee, but it also has no foreign transaction fees. It earns an unlimited 2.625X points back on all purchases.
For this card, you earn points, not cash back, and these points can either be redeemed for a “travel credit” or a “cash reward,” with both of these redemption options start at 2,500 points.
Im having trouble deciding as I am new to the credit card cashback game. I only get my gas from Costco, and BofA debit holder. Which card would you recommend from BofA, Customized Cash Rewards or Unlimited Cash Rewards? I'd like a "Do it All' card, but I am limited with Costco and Visa partnership. Thanks.
The travel credit is the preferred method of redemption because the points are redeemed as a statement credit to offset a previous travel or dining purchase at a rate of 1cpp. The cash reward has a redemption value of 0.6cpp
The Premium Rewards card has a $95 annual fee, and also has no foreign transaction fees. It earns 3.5X points back on travel, 3.5X points back on dining, and 2.625X points back on all other purchases with no limits.
A fresher video for Bofa? Do you still have your elite card?
With this card, you can redeem your points for a statement credit, a direct deposit into a Bank of America checking or savings account, or a deposit into a Cash Management Account or 529 with Merrill at a redemption value of 1cpp. You can also redeem points in the Bank of America Travel Center for 1cpp or for gift cards.
So as you can see, there are a lot of options to choose from when it comes to a catch-all credit card from Bank of America, and depending on your goals, one of these cards could be the right one for you!
Good video.
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Idk why but every review I’ve seen on the travel rewards card online or YouTube misses the additional 1.5 points you can receive by booking travel on the Bank of America travel center. Bank of America themselves doesn’t even advertise this perk so I find it very strange. I booked a years worth of travel before I got bored one day and read the terms and conditions.
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Great video
Chapters:
Just joined the BoFa club with a targeted 300 dollar sub for 1k spend on the unlimited cash rewards card. I know it is geared more toward end game, but I figure it could help to get in now to build some positive history with BoFa for the future. Any tips on how long to wait or rules before applying for their business cards?
00:00 Intro
00:41 Preferred Rewards and Why It Matters
thank you,
03:38 The BofA Catch All Credit Cards Compared
12:59 Outro
Would leave 100k in a BofA checking/savings account just get a boost in points on a credit card when you can use most of that 100k to invest it and gain a lot more!
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Note: This description contains affiliate links, meaning that I may earn a commission if you click through these links and successfully apply, sign up, or buy the product or service mentioned.
Do I still get points or travel rewards if I make a purchase, then I get a refund back to my credit card?
Disclaimer: I am not a financial advisor, accountant, or lawyer, and as such, I do not provide financial, tax, or legal advice. This video, and any ideas presented in it, are opinions and are provided for entertainment purposes only. Please do your own research and consult your own financial, tax, or legal professional for specific advice.
Hard inquiries- if denied for a regular Travel Rewards card will I get a second hard inquiry if I apply for the secured version immediately afterwards?
#creditcard #bankofamerica #bestcreditcards
Starbucks is now offering 2% cash back on Starbucks purchases with your BofA Debit and Credit Cards excellent perk for regular Starbucks goers! ✊
More User Perspectives
I know that credit card rewards are not taxed, but I was wondering if you redeem your rewards by direct depositing it into a BofA account or Merrill account, would it be considered a bonus and taxed?
@JohnnyCashBack5Xhello fellow stan, subscribed
@StandepokemanYou're always so clear and concise making these confusing topics much easier to understand - thank you!
@dalejohnson6675Not sure if you have reviewed the Alliant Visa Signature card but it's a 2.5% card - check it out when you get a chance
@tylermcdonough37If you have this trifecta you effectively have 3 1.87%-2.625% cards. 2 no FTF and 1 with. If you have the premium rewards (95$ AF) you can transfer the points from the bofa travel rewards to the premium rewards and redeem the points for cash back at 1CPP. With 3 of these cards you can stagger their billing due dates throughout the month making paying them off easier
@busenfreundI rarely see any YouTuber recommending Bank of America cards.
@Kylo_Ren_2033I rarely see any YouTuber recommending Bank of America cards.
@Kylo_Ren_2033My setup is customized card, premium rewards elite, and business customized card. Best trifecta for me of course. Customized card for online purchases, business customized card for gas ( I drive a lot, 3 cars in the house, all under the same card) and premium elite for everything else. Nice and easy, I don't have time for those annoying monthly credits, that wants me to spend money to find value 👎.
@Jp0102Yes Sir! Thank you for this video! 👍
@caribdude8151Great video, Stan. Would love to see you do more BofA videos. I have 3 CCRs and the UCR with Platinum Honors
@billywalsh2313I still don’t understand why BOA doesn’t get into the transfer partners game. I’d like to know what their excuse is for this because it kind of defeats the purpose of having a travel rewards card if you can’t transfer points. Even Wells Fargo is beginning to understand this. Anyhow, that’s my rant for today.
Btw, I saw how you flashed that ugly gold card in my face. 🤦🏾♂️
Excellent video Stan and I can confidently say that none of these credit cards are for me.
For the Travel Rewards, can do a product change to redeem more easily then change back to keep enjoying the 2.625% rewards
@zero62422002I know they're not for everyone, but I really appreciate your making videos about the Bank of America credit cards.
@xiaosha1558Always love to learn more about these cards, and you’re the go-to for them!
I didn’t know that to redeem this statement credits, you need to actually have spend in that category to redeem them in. Makes sense in retrospect.
Great video Stan, very thorough as always!
Great points brother! I’m far from getting value from these though 🤣
@ConstantPointsThe Travel Rewards card would be my last choice. Those redemption methods are pretty annoying, so if you're super against annual fees, I'd go the Unlimited Cash Rewards, but personally the Premium Rewards card would be my choice. Great breakdown as always Stan!! 👊🏼
@SpencerJohnsonOfficialAnother great video Stan! Never really put much thought into Bank of America cards but now I will def take a look, keep up the great videos!
@steve_rogers_usmc1990I still wish that I got some personal credit cards with BOA when I was a customer for 15 or so years
@SledgeIncTeamGreat Video. BoA cards are so underrated. I think part of the reason is there are no BoA affiliate links, so youtubers don't have an incentive to talk about them.
@anonymousaccountRunningStan the Man!
@lashadow8I don’t have any BoA card but that Premium Rewards is quite 💪 I have also considered adding the Customized Cash Reward in the future. Thanks for the detailed information Stan! Keep up the great work!🫵
@CesarJoelIf I want to redeem the point for the Elite card, do I have minimum like 2500
@kevindurant5278@stan I think the premium rewards card may be s rank. It does not get enough love from the community. It is easy to get positive value and has a good travel multiplier for direct flight bookings . It also has travel insurance.
@boombstc1Thanks for the video Stan. Can I use the points from the travel card and transfer them to the elite card for 20% off airline bookings in the BOA portal? I can’t find info anywhere showing if they are compatible.
@bctsteveI haven't made the venture into BOA cards just yet. All of my retirement, savings and checking accounts are spread out to various banks for now. I'm thinking longterm I might go with chase or BOA but for now I'm hunting bonuses and the best rate for each individual product. In about 10-15 years I know I'll need to consolidate.
@ranktank45Great vid. Personally on the cash back side
@ericsolorio1431Bank of America's Custom Cash is probably the best cash back card when you have Platinum Honors. You essentially get 3% cash back for your selected category with the 75% boost for being a Platinum Honors Preferred member, effectively making it 5.25%.
@JohnnyCashBack5XGreat video here Stan! I think the Premium Rewards Card ultimately wins out as the best BofA Catch All Card (assuming you can maximize the $100 Airline Incidental Credit) due to the simplicity (easy 1 cent per point), higher multipliers for Dining & Travel and No FTFs.
@MattWelterOfficialThis is a great card for your spouse who doesn't want to think about what card to use. Can't go wrong with a floor of 2.625% back.
@michaelkeaton32Thanks for the detail Stan. My only relationship with BOA is having the Alaska Airlines Visa, and I've otherwise never been compelled/impressed to be a BOA customer, but your information is solid.
@SectionChiefI love your point about these cards being great in your end-game setup, due to how you'll have more assets and can take advantage of the Preferred Rewards multipliers on your ... multipliers. Insightful points per usual!
@MontyTheCardNerdStan, this is the kind of content that keeps me subscribed. Thank you for going deep into the T&C’s for us.
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