8 Reasons Why I DON’T LIKE Bank of America Credit Cards

[@MXALOVE]

Customized Cash card is the only card from BOA that's worth getting and the only thing worth it from that card is Online Shopping. Every other category is beat by another card out there. If you've got 500K then you can get 5% on online shopping, but that's a lot of work when Target, Walmart, and Amazon and more have 5% cards with Target's being the easiest to get. It's just a meh overall

[@MarkReese]

Well said! 🏆

[@thereaIitsybitsyspider]

It's obsolete now between the amex blue cash everyday and the PayPal credit card unless you have a ton of money with BoA

[@icy1018]

@@thereaIitsybitsyspider not true, bofa is much more broad in terms of the online shopping category.

[@jf5052]

I'm Platinum Honors with BoA and I love their cards for cash back. I pay rent (which codes as online shopping AND travel) with my three customized cash reward cards and get ~$100 off rent every month. For some months I collect the cash back to pay my Amex cards' annual fees lol. But yes I do agree that without elite relationship their cards are pretty mediocre.

[@MarkReese]

Awesome strategy with the rent payments, Jiantao! 🏆

[@TehzeebR]

This ^

[@isiahdeadpool5907]

how you pay rent with the card😭

[@jollama]

@@alyssalopez3103 He’s not answering you

[@jollama]

@@isiahdeadpool5907 He’s not answering you

[@sjg6158]

Only if you're preferred rewards is it really worth it. Their travel portal is decent though pricing-wise if you have their cards, which offer bonuses for using it. Ironically, while you lined up the cash back cards against the likes of Citi and Chase, if you're Platinum Honors, the BoA cards are the best in the business haha. 2.62% on the Unlimited Cash Back card and you can have multiple 5.25% choice categories with the Customized cards. Just saying Mark :) Bottom line -BoA is not about credit cards and they are a loyalty bank. The more funds you have, the better the rewards, but if you don't have it with them, they're not catering to you.

[@MarkReese]

Well said! 💯

[@dougn7319]

Preferred rewards makes BoA cards the best of any issuer IMO. KZbinrs hate BoA because BoA doesn't have referral links like Amex or Chase for them to collect a commission on.

[@MarkReese]

Totally agreed about the Preferred Rewards program; one you're in it at a high level then the cash back rewards are great 💯 BoA may not have a referral program, but they do participate in affiliate programs and commissions can be earned on their cards.

[@TheCreditFrog]

I think your analysis of the BoA lineup was well researched and well done. The preferred rewards system really is the key to BoA's secret sauce, specifically the Platinum Honors tier and above, otherwise their cards aren't competitive.. like at all. At this tier, they have the most competitive, if not the best, multipliers, for a single-bank duo or trifecta setup. Although they do great on the earnings side, they do fall short on the redemption side. At least for now, BoA's system really is meant to be run as a cash back setup. With the Premium Rewards Elite, they've only just started offering somewhat ok redemptions on travel through their portal at 1.25%. You also forgot to mention the pros of the Premium Rewards Elite - it's a black card, it's a metal card, and it came in a nice box 👍. Great video 👑 Mark!!

[@MarkReese]

Right on! Gotta love those 'pros' of the Premium Rewards Elite 😂👊

[@cementkun]

For people who do not want to play the points game & can have $100k invested with them, BofA setup is hands-down the best for cashback. A 2.625% catch-all with many transactions at 5.25% is really hard to get from other setup, even with annual fees.

[@MarkReese]

Totally agreed! 💯

[@von2981]

I have the customized cash. I haven’t seen any card that has broad “online shopping” (Amazon, department stores, etc) categories. This is a must for those who shop online. I get 5.25% cash back.

[@MarkReese]

Definitely a great card for online shopping! 💯

[@sjg6158]

BoA's cards are somewhat vanilla, but polarizing in terms of rewards. Since the bank is a relationship institution, if you invest / save with them in large amounts (over $100K), their cards rise to some of the best around. The Unlimited Cash Back card gives you 2.62% back across the board. That's the best. The Customized Cash Rewards Card, gives you 5.25% back on your choice category, and you can have more than one of these cards. If you don't have a relationship with BoA though and/or you don't have the funds, then their cards fall off in terms of returns to the bottom of the list.

[@MarkReese]

Agreed 💯

[@WhoDeanyUnchained]

These rants are always so informative. Another great episode!

[@MarkReese]

Thanks Deany!

[@TheAudioCzar]

The only reason I want the customized cash is it's the only no annual fee card that I know that gets 3% on travel. Holding out to see what Wells Fargo comes with this year, my prediction is that they'll relaunch the propel but with an annual fee.

[@MarkReese]

What about the Costco Anywhere Visa? 😃✈️ That's 3% on travel + dining with no annual fee.

[@TheAudioCzar]

@@MarkReese never heard of that, will check it out, thanks!

[@Isabella-nc9ls]

My crypto mentor Mr Donald Marshal , you may have come across him on a few interviews I invested $3000 last two weeks and it profited me $11,410 a higher success.

[@Evelyn-wb3kn]

please 🙏 tell me how i can contact Mr Donald Marshal I've lost alot of money trying to trade on my own😭

[@MarkReese]

@@TheAudioCzar - You got it 👊 I did a review of the card too, here's the link: kzbin.info/www/bejne/p6fMlHt6grBnjKs

[@izzymath]

I've been a BOA customer for 10+ years now, but it was only when I moved my investments to Merrill in 2018 (and effectively became Platinum Honors overnight) did I begin to see the value of having a relationship with one bank. I use its Customized Cash CC for online retail purchases, including most airlines and hotels @ 5.25%, and groceries @ 3.5%, and its Travel Rewards Card for other purchases @ 2.625%. I have 2 other cash back cards to help eke out better returns on specific categories. There is always more to learn about the credit card ecosystem, and I thank you and other KZbinrs for the knowledge I have gained.

[@MarkReese]

Great that you're in the Preferred Rewards program at the Platinum Honors level! 💯 That's when BOA credit cards become much more rewarding.

[@xiaosha1558]

@izzymath I did a similar move recently to become Platinum Honors. I’ve started with the custom cash rewards card, but I’ve been thinking about either the travel card or the unlimited cash back to be my catch-all. Can I ask how you decided on travel, when the rewards percentage was the same for both? How do you like the travel card?

[@ChrysusTV]

As a US citizen living overseas, doesn't like travel much, and have high Preferred Rewards, the Premium Rewards card is essentially the only card on the market that serves as a good catch-all for categories not captured by my other cards. Other cards pushing 2% or higher as baseline cash back usually have foreign transaction fees, except the Alliant card, and cards with excellent categories or credits usually apply to US transactions. e.g. Savor's 10% back is US-only, and Amex Gold's yearly credits apply primarily to US restaurants and US Uber, so $240 in value lost on a card with a $250 fee. So my options for a competitive card are to either force an increase in travel spend, which is a net loss compared to just not spending in the first place, or pairing my Preferred Rewards with this card.

[@MarkReese]

Excellent example of how BOA cards can work to your advantage when paired with the Preferred Rewards program! Great to hear you're getting strong value 🏆

[@aadeorukhkar]

The amount of information you put together is impressive Mark! I am a long time BOA customer and they have treated me very well. Nonetheless, now I see how they stack up against the competition.

[@MarkReese]

Glad you enjoyed the video!

[@jasongray8016]

If you are platinum honors then he is wrong. My points redemption is better than chase.

[@LiftWeigh]

​@@jasongray8016 I'm a platinum honors guy also. I recently started paying attention to this stuff. What's your stack of cards? And credit limit? Currently got 2000 limit but i want to get up to 10,000. Any suggestion? Only got debit and the cash rewards for gas

[@teencred9430]

Lately, they look like a great option as a beginner card, *possibly* competing against Discover's seat as the best go-to first card. The regular Customized Cash...not so easy to get accepted. BUT, they have Secured and Student versions of that card, and they KEPT the sign-up bonus for the latter!

[@MarkReese]

Yep, BoA has some good options for beginners! 😃👍

[@sweet3a21]

ive had my customized cash rewards card since my sophomore year of college so i’ll never get rid of it but it is boring 😂 but the option for 3% on online shopping helps

[@MarkReese]

Yep that 3% online shopping category is worth it 💯

[@sudhisira]

2 words why we do like BofA credit cards - Platinum Honors. We have 2 CCRs for P1 and P2, that give us 5.25% on gas as well as 5.25% on online purchases. Plus a UCR that gives us 2.625% on miscellaneous expenses (we have 2 Citi Custom Cash cards for 5% on groceries and 5% on restaurants).

[@MarkReese]

Platinum Honors definitely makes their card products highly worthwhile for cash back 😃💵 Great that you hit that tier!

[@achavez78]

The premium rewards elite is a metal card ...so that's a major perk. We all know this Automatically makes you elite, better than the regular normies with plastic cards....however even with that said the card falls far short of many of it's competitors.

[@MarkReese]

Haha 😂

[@mitchell.9632]

>Citi has a lot more then three cash back cards seeing you include co-branded like the ATT Card. Some more are with regional retailers. >On Bank of America there is usually hear "higher than normal call volume" though it maybe worth it if you get a promotion or retention offer, best offer that this one knows for a no annual fee card. >On number three (and six), totally agree. It is like their bank accounts.

[@MarkReese]

By "a lot more"...which ones would you add?

[@pamgordon5051]

I've never ever had any sort of Bank of America banking relationship (that I can recall) and was just approved for a $12,000 limit (personal not business). They kept sending me invitations and I just decided to apply to see what would happen and got an approval within seconds.

[@MarkReese]

Congrats on the approval, Pam! Enjoy the new card 💳

[@whimsicalhamster88]

I use BofA cards for a few reasons. The 3% cash back with online shopping can't be beat. I have taken advantage of three of their cards now for 0% APR intro periods for larger purchases since I moved into my house a couple of years ago. I just got the Alaska Airlines card with a 0% APR offer for the first twelve months. I live outside Seattle and Alaska Airlines' hub is Seatac. I will and have totally used that companion fare and free checked bags every year, so even with the $95 annual fee it more than pays for itself. I think that BofA is fine with being the middle road bank compared to its main competitors. They offer those Preferred Rewards to attract a more high-income or wealth customer, and then their cards actually make more sense as daily drivers.

[@MarkReese]

Solid points all the way through, Seth!

[@chrisj8253]

I have looked at BoA now it makes sense why I never actually apply. Seeing this breakdown for their card products all at once, they just don't have much for me across their entire line. The online category was all I was looking at and PayPal just covered that with the refresh. Personally that takes BoA completely off my radar for now. Great video and breakdown! : D

[@MarkReese]

Same here 🤙 I may get another BOA card at some point, but I'm not excited about it 😂

[@Gurwinderparmar]

But why you don’t mention preferred rewards membership 1.5 is 2.25 if you preferred rewards member

[@MarkReese]

I did. See 14:28 🎬

[@giggleswithteshanaandbrihanna]

With a 739 credit score I applied for the unlimited cash rewards credit card and they only gave me a credit limit of $3,000 like come on😣

[@MarkReese]

Congrats on the approval! The limit itself isn't based solely on credit score, but also other factors like income, debt levels, etc. ✌ See if you can get a limit increase later on.

[@smurkio_otf]

I learned a lot from this video Mark and I've been a bank of America customer since 2014. I recently did a product change with Capital One from the Platinum (blue) unsecured card and got approved for upgrading to the Capital One Venture One card with no annual fee. It's my first travel card and I got the Quicksilver card with a $39 annual fee just a few months ago. I was wondering if you could make a video on the Capital One Venture One card with no annual fee, the pros and cons, and how to best take advantage of the rewards on everyday purchases vs focusing on where they want you to use it most? I'm excited and got it in the mail today but would love to learn more from you as always!

[@MarkReese]

Congrats on the addition of the C1 VentureOne! ✈️ I'll consider a video about it sometime in the future.

[@smurkio_otf]

@@MarkReese I really appreciate that man, I love the content!

[@dustin7708]

Bank of America has only two cards worth getting, the Customized cash for 3% for online shopping (if you don’t get something off Amazon for 5% with Amazon prime card) and the co-branded Alaska Airline card for the companion pass.

[@MarkReese]

Yep those 2 are worth it for a lot of people 👊

[@djpuplex]

Having the credit card gets you targeted offers for checking account bonuses every 24 months $300-400 for $3-4k in direct deposits.

[@MarkReese]

On the business side, personal, both?

[@djpuplex]

@@MarkReese I only know on the personal side about every 24 months BOFA sends a targeted email $300-400 for like $3-4k ach direct deposits.

[@MarkReese]

@@djpuplex - That's awesome! Perhaps I'll add a personal BOA card at some point 😬

[@omgcrisbreezy]

What? I’ve had a checking account with BOA for 10 years and 3 credit cards also with BOA 6-7 years and not once have I’ve seen that lol.

[@djpuplex]

@@omgcrisbreezy close your checking account you'll get a email in over 24 months to come back and get $300-400. Checking accounts don't pay loyal customers only "new" ones.

[@alexrod550]

I respect your opinion ....I love ...Bank of America ..have 2 cards and banking...They are the best to me...would never change them...Thank you.

[@MarkReese]

Glad to hear it! 💯

[@ctcristo]

just buy or transfer over some Vanguard ETF funds. Super simple, I also got $1000 signup bonus for it. I would hold the Vanguard ETF funds anyway with Vanguard, doesn't make any difference where you hold the assets. Holding it with Merrill Edge gives you the extra benefits.

[@MarkReese]

Great way to do it, Kevin! 💯

[@ayamaikarim]

I was denied a BOA credit card and even secured one when I only bank with them, C'est La Vie. At the end they turned me to look for far better cards with better Cashback rewards and travel points. Watching your videos made me look somewhere else.

[@MarkReese]

I've been there too! Had to get denied by BOA twice before an approval occurred 😁

[@teencred9430]

DENIED for the Secured version?

[@DBCOOPER888]

It's not too hard to move funds to Merrill Edge. Just kind of annoying.

[@timothyturner3646]

I went from putting everything on my BofA Travel Rewards card to just one purchase a month because the base rewards suck. I can get 1.5x on Chase Freedom Unlimited and 3x dining with no auto redemption issues. Sometimes it takes months to redeem my $25 cash back on BofA… annoying! Thanks for the video!

[@MarkReese]

Yep. BOA's cards make the most sense when combined with the Preferred Rewards Program and when redeemed for cash back.

[@sumeetagarwal6561]

i have 20+ cards (chase, amex, us bank, citi, discover, etc) and BoA ones are my favs out of them

[@MarkReese]

BoA cards can be excellent for cash back when combined with the Preferred Rewards program. It's also a very simple, straightforward program 👍

[@oscelotgreen]

I have two very old BofA cards which were both Amex, but different cards. When BofA dropped Amex, they turned both into Unlimited cash cards - yes two of the exact same card. I tried to convert one into a customized cash and BofA refused. So of course, both are sock drawer cards. I would have actually used the customized cash on a certain category, so your loss BofA.

[@MarkReese]

Bummer that they wouldn't let you do the product change 😕

[@mitchell.9632]

Makes sense if you have two Customized Cash rewards to get a higher cap but in your case of having two *Unlimited* cash rewards doesn't make sense.

[@CalbyNg]

I remember the Zebra Corner did a funny bit about Bank of America's customer service. So I've been trying to avoid them.

[@MarkReese]

I haven't had a need to use their customer service yet 😁

[@Lowspeedoperator]

Also have only 1 BOA card out of 24 total. The BOA custom cash have had for 6 years rarely us as well. Additionally I closed my 20 year old boa checking and savings accounts tired of the fees. Glad to be almost rid of them.

[@MarkReese]

The fees are lame 😬

[@Mr.CEO888]

Keep money in them there won’t be a fee. Lol……

[@Lowspeedoperator]

@@Mr.CEO888 🤣

[@richsamuel2922]

I have BoA cards only because I'm already with them and I'm in Platinum Honors program.

[@MarkReese]

Well done. Plat. Honors = 🏆 That's where BoA cards become highly rewarding for cash back.

[@kylepetit1633]

Would love to see a video on your opinion of U.S. bank cards.

[@MarkReese]

I'll consider it!

[@Quaway252]

I was approved yesterday no relationship with boa , opened about 5 new cards this year since I got into higher tier cards. Took about two weeks to get approved my limit is only 700 right now but the associate told me credit increases are soft pulls and can be done at anytime . i can’t login into my account until the card comes in unfortunately. I even swept the inquiry off my report because it took longer than I expected to get approved sorry not sorry lol Great review love this channel!

[@MarkReese]

Congrats on the approval & enjoy the new card once it arrives! 😃👊💳

[@飛向宇宙-o1s]

Will you choose Citi double or Wells Fargo 2% for everything

[@MarkReese]

For travel...Citi Double Cash. For cash back...doesn't matter. For cell phone protection...WF Active Cash. For welcome bonus...both (when they both have one). The WF Active Cash tends to have a bonus opportunity a lot more often.

[@MikeMaye]

I only have 1 BofA card which is the Customized Cash Reward. It started out as a completely different card about 16 years ago and I recently had them change it to the CCR since my original was obsolete.

[@MarkReese]

Nice, you got what is probably their best card 💯

[@mitchell.9632]

What was the original?

[@MikeMaye]

@@mitchell.9632 it was so long ago I don’t even think it had a name or was anything special. It only said BankAmericard. It wasn’t free either it had an AF but back then I wasn’t smart enough lol

[@hashimhalstead]

The BoA Custom Cash is better than the Chase Freedom. Chase makes the percentages look better, BUT their $1,500 quarterly cap holds the benefits back significantly while Boa has a cap of $2,500. I guess it technically could win if you were never planning to spend over $500 a month on the card.

[@hashimhalstead]

AND this is assuming you're only talking about the entry level rewards. If you're once you're holding more than 20k in cash or assets it immediately starts to blow other no annual fee cards out of the water.

[@MarkReese]

Great points above, Hashim!

[@PatrickDKing]

Probably "their" best card is the Meryl Lynch Amex Platinum. (I know not really BOA card) but I think you can get the platinum card fee waived if you have like $25 grand with meryl lynch and it transfers Amex points to cash at 1 cent per point.

[@PatrickDKing]

I honestly can't remember if it's $25 grand or like $250 grand but I think it is $25 grand.

[@MarkReese]

Definitely a good option for some people!

[@SpencerJohnsonOfficial]

Thanks for the breakdown Mark! I've never even looked into BoA cards in the past, and this video gave me another good reason not to! In all seriousness, it is pretty clear that BoA has a lot of work to do to be a real competitor in the space. I appreciate your perspective!

[@MarkReese]

They sure do 🤙 That 3% Choice category on the Customized Cash Rewards Card is solid, but beyond that their cards only make sense for people who prefer cash back & are in the Preferred Rewards program.

[@SpencerJohnsonOfficial]

@@MarkReese I definintely agree with you there. It seems as though if you started with BoA in the first place and were able to get to a higher tier in their Preferred Rewards program over time, these cards could be pretty beneficial. But for a college student like myself, I do not have the cash to take advantage of those Preferred Rewards just yet.

[@coreyw5981]

Back in my young naive days, they talked me into getting the travel card to add on to my cash rewards. Travels and their new unlimited card have to be the most useless cards out there. BOA isnt even trying to compete with other great banks out there. Even more comical is theyre offering me to change my cash rewards to the unlimited.

[@MarkReese]

Yeah BOA's cards make the most sense for those who also participate in the Preferred Rewards program. Without that, the cards aren't that interesting 🤙

[@Kylo_Ren_2033]

If you get a 75% bonus on all rewards, their cards can be super powerful.

[@MarkReese]

Agreed 💯

[@lotto5742]

I'm still gonna apply for it to increase my credit limit and receive the intro offer.

[@MarkReese]

Good luck! 💯

[@jollyronacher]

I use the customized cash card for 3% back in gas. I know Citi custom cash would be better, but I’m currently saving my applications to fill out my chase 5/24 status, as of today I’m at 4/24.

[@MarkReese]

Solid plan! 3% on gas is still good 👍

[@azan-183]

Great video! For students, the Travel Student card was the only Visa/Mastercard student card with no foreign transaction fees, making it worth it for studying abroad (at the time of my application). Now, Capital One's student cards are ahead of it. I do have many recurring things on my BoA Travel Student card. However, as you mentioned, I don't find the points very useful, and would rather just get cash back.

[@MarkReese]

Good choice at the time to avoid those FTFs! 😃✈️

[@cinnamatic8413]

I was considering the customized cash rewards card for students for my first credit card, but looking in the long term, I’m not sure if it’s worth it and was thinking of the Chase student card, but I’m not sure. Do you have recommendations for this?

[@MarkReese]

Who do you bank with?

[@Mr.CEO888]

Any name brand credit card that doesn’t have a annual fee, why not? It can’t hurt you if its an old card and it help with you credit Utilization.

[@MarkReese]

Fair point 😄

[@klvAcosta]

I have 2 BOA credit cards, one with a $20k credit limit and the other one $28k, to me they are 2 emergency savings accounts, I’ll only use them if I really have to.

[@MarkReese]

Fantastic limits on both of them! 📈

[@PhillyBill59]

Mr. Reese...your presentation is well organized, and, quite compelling. This should be mandatory viewing for the appropriate BOA departments. Having said that...I myself have had positive interactions with them, though as you point out...the cards are not my go-to weapon in my arsenal. Thanks for sharing :)

[@MarkReese]

Thanks Bill, glad you enjoyed the presentation! 😃🎬

[@gm92845]

I think reason 4 is why BOA cards suck. They pretty much made them for their banking customers as an incentive to bank with them. So if you're part of their premium rewards program they are pretty much the best cash rewards cards on the market.

[@MarkReese]

Yep. Keep assets within the BoA ecosystem & you'll be rewarded in a bigger way 👍

[@jamemee8795]

I agree Bank of America customer service so poor I'll never ever go back again forever

[@MarkReese]

😬

[@Afrocow]

Love the content - wish you would mention that the customized cash rewards card has multiple affinity cards. Not just the Susan G. Koman, such as collegiate, foundations, non-profits etc. I personally have the University of Texas Exes Customized Cash Rewards with the same terms and conditions. The upside is that BoA donate to the selected organization with each purchase.

[@MarkReese]

Hi Honcho - I’m aware of the other affinity cards, however, I haven’t seen them available online for awhile now, so I it didn’t make sense to mention cards that people can no longer get. Do you see active application links anywhere?

[@Afrocow]

@@MarkReese I may or may not work for BAML, they are still available - the company just doesn’t want to publicize it as it cuts into their profit margin. Ironic, right? In order to get them, you’ll have to call it in to have the account type changed, cardholders can keep their same account numbers. New applicants can apply over the phone to get them as well

[@MarkReese]

@@Afrocow - Got it, thanks for the insights!

[@ammooth1592]

Reese, I can't say your reasons are wrong. Only because I am a preferred platinum member with my cash rewards card. From my point of view applying for any other card with BOA, would be a mistake. Clearly, the one I have does it all. I missed out on the 💵 back opportunity when I first opened this credit card 🤔. Giving chase or citi financial a call 🤙 is the move 🤝

[@MarkReese]

Awesome that you're at the Preferred Rewards Platinum level! 😃👊

[@ammooth1592]

@@MarkReese Thanks Reese. But real talk I wished, I had more lucrative credit cards. But on the hand. Paying high annual fees ‼️ Really isn't my deal @ all 💯

[@MarkReese]

@@ammooth1592 - No need to pay high fees. There are a bunch of awesome no-fee cards out there 💥

[@ammooth1592]

@@MarkReese I'm going to try a few of them 💯

[@MarkReese]

@@ammooth1592 😎💯

[@deborahanderson4211]

I hear you! I keep getting the envelopes from them and when it’s time for me to shred the mail!

[@MarkReese]

😬📬

[@johnmckinstry6057]

Hi Mark, You do have some good points about Bank of America. In my opinion, their strongest card is the Customized Cash Card. I am planning to get this card in the near future because it is a unique card. I also currently qualify to be a Gold Preferred Rewards Member as I have my 401k through Merrill Lynch, so I can get the multiplied rewards. Once I fall into the Platinum tier, then I will probably get the Unlimited Cash Rewards card. Other than those two cards, their other cards have room for improvement. Their new Premium Rewards Elite card is nothing to get excited about and there are definitely better options. I think the only people who would benefit from the Elite card are those who travel a lot and those who have a lot of money with BoA.

[@MarkReese]

For sure! Well done on getting to Preferred Rewards Gold 🥇 Have fun with the journey to Platinum!

[@KingGreen78]

I had the Merrill card years ago, and when Bank of America took over merril lynch i canceled the card

[@MarkReese]

Was that the Merrill+ Visa Signature Credit Card? Black & blue in color w/ the bull logo on the front?

[@KingGreen78]

@Mark Reese // Credit & Finance it was full black metal at first and when boa took over it became that blue and black plastic card,and the boa app looked so cheep compared to the merril lynch one before, i just canceled

[@MrJPPIZZA]

I got the customized cash reward. Just hate $2500 3 months limit with no way to track.

[@MarkReese]

It's one of their cards that can be worth having 👍 Is there really no tracker anywhere on your account?

[@MrJPPIZZA]

@@MarkReese nope no tracker. Just know that the limit resets Jan 1st, April 1st, July 1st & Oct 1st.

[@MarkReese]

@@MrJPPIZZA - Bummer, they ought to incorporate a tracker at some point.

[@Milkinporsche]

I like the BofA services and checking account but their credit cards are terrible.

[@MarkReese]

👍👍

[@飛向宇宙-o1s]

Good video, hopefully BOA will see this video

[@MarkReese]

Thank you!

[@x1928]

Do you happen to know if this applies to their co branded cards such as the Air France Mastercard issued by BoA?

[@MarkReese]

If 'what' applies?

[@x1928]

@@MarkReese if the rules of 3 credit cards in 12 months for non BoA customers. As someone who recently flies a few times to Europe I’m really looking into staying a bit loyal to Air France 🇫🇷

[@MarkReese]

@@x1928 - Yes it does.

[@docsays]

i had the BOA americard back in the day. Nice limit too, around $12.5k. But i missed a payment in my younger days, so they restricted it. I just paid it off and let em close it. Wasnt interested in any other cards from them. And you are right, their elite travel card sucks!!!!🤮

[@MarkReese]

At least you got your BOA experience in 😄👊

[@iTheRealAK]

I’ve been a BofA client for 20 years now. I use all of their products and services. It’s sad to say I never use their credit cards though. They’re so bad; so so bad. The only card I’ve with them is the old old cash back card. It gives me 1 point per $1 spent. The only reason I haven’t canceled is cause I’ve a pretty high credit limit and I don’t wanna ruin my credit utilization.

[@MarkReese]

That's a strong 20-year run with BOA! 🏆

[@iTheRealAK]

@@MarkReese that’s why my dad had when I first emigrated here. That’s what I’m just used to I guess

[@iTheRealAK]

@@MarkReese bro do a Bilt Mastercard review please

[@MarkReese]

@@iTheRealAK - I might as some point 👍

[@chhinchhem3816]

I wish the Alaska Airlines Visa wasn't partnered with BoA. I really want and could use their perks for my family of six during air travel but their required data points of getting approved for one is just lame and not customer friendly. uugghh

[@MarkReese]

I understand the frustration 😄✌️

[@landocalrisian2014]

If I wasn't a BoA customer for about 20 yrs I wouldn't have a card. I have the Cash Rewards and the Bank Americard which was my first card as I was building my credit, I barely use it but have a decent credit line.

[@MarkReese]

Nothing wrong with starting your journey with BOA & maintaining that positive history! 💯

[@ConejoNegro21]

I've had the premium rewards for about 9 months now. Solid card since im platinum. However, Capital one has given me an offer to upgrade to the VENTURE from the QUICKSILVER. You think I should do that and close the Premium? I dont feel like paying two cards for $95 each. Also, I don't plan on being platinum with BOA for long.

[@MarkReese]

What do you like to use your rewards for?

[@TerrySteiner]

Isn't Virgin Airlines CC an BOA product too? I don't disagree, they just have one more co-banded card.

[@MarkReese]

Ah yes great catch, Terrance! ✈️ Interestingly, it isn't listed on their website. Must be some sort of special marketing channel arrangement.

[@johndunston2394]

Very interesting Mark. 👍

[@MarkReese]

Thanks John!

[@franknandlal6061]

First rule of fight club- we don't speak about fight club... second rule of fight club-

[@MarkReese]

😂👊

[@sleepingpetal]

I would like to add that preferred reward is not really worth it. You earn virtually no interest even if you have 20k+ in savings, and Merrill’s funds have really high expense ratio compared to Schwab or Vanguard. Most of my Schwab funds have expense ratios of maybe 0.02-0.06, Merrill’s tend to be around 0.9-1.3. It adds up to a lot once you plug it into a compounding calculator. I like their cards for their simplicity. I don’t have to pay annual fee for a no FTF card, but buying into their tier system will actually cost you a lot.

[@MarkReese]

High expense ratios are nasty 😬

[@Lakiman52]

I'm not sure where you got the impression that you have to buy into merrill Lynch funds. I invest in SPY with my IRA through bank of America and that counts towards my tier level just for having my IRA with them.

[@sleepingpetal]

What is your expense ratio?

[@advianjoseph]

For me BOA NOT having Any Transfer Partners is Reason Number 1.

[@MarkReese]

I hear ya on that! ✈️

[@ZaDOSmiKa]

Thanks for the great content! :)

[@MarkReese]

You bet!

[@CreasyEQ]

Reese, I agree with you. I am a preffered rewards member with boa. The only credit 💳 card that really makes sense is the custom cash rewards card which I already have. Only for the $200 cash 💵 back is the reason I thought 💭 about going with the Unlimited credit card from boa 🤔. The one I have beats the unlimited, 5 ways from Tuesday 💯. chase is a beast, when it comes to there credit 💳 cards 💯. I'm pissed 😡 😠 with capital one @ the moment. I'm really in my feelings, about ❌✖️ canceling my credit 💳 card from them. Jumping high with American Express cards could be a 🆕 look for my credit profile 💯

[@MarkReese]

When it comes to money / finances, decisions should be made without heated emotions.

[@CreasyEQ]

@@MarkReese True, and I should have left emotions out of the answer ✅

[@johnhorton7359]

I wish bank of America made a premium Alaska airlines credit card.

[@MarkReese]

That would be epic ✈️

[@laflamejohnny3391]

By any chance any tips on increasing credit limit at Bank of America . I keep,getting decline

[@MarkReese]

How long have you had the card? How often do you use it?

[@ReliableisHere]

Have you looked into preferred rewards

[@MarkReese]

Yes, very familiar with it and mentioned it at 14:22.

[@mbarrosEMS3]

Looks like you forgot the co-branded AAA BOA Credit Card. :)

[@MarkReese]

Yep good catch 😄👍

[@kciresmith496]

Thats true, bofa credit card is boring, not mich reward and complicated reward system I rather to have amex credit card for my business

[@MarkReese]

I prefer Amex's cards, too 😄

[@kciresmith496]

I got the amex blue business plus, looking forward to apply for amex business gold probably next year🙏

[@MarkReese]

@@kciresmith496 - Awesome, congrats! 💥

[@MrMohaa1234]

agreed! their top tier is A DISASTER!!!!

[@MarkReese]

Yep 😬

[@avrohomgurevich6951]

I got the BofA secured and after a year they un secured without giving a new card which debunks reason 5

[@MarkReese]

Congrats on that, Avrohom! 😃👊 That doesn't debunk Reason #5 though...their card lineup still have 0 creativity 😁

[@avrohomgurevich6951]

Wasn’t the reason that it would be annoying to have 2 cards look the same but be deferent?

[@MarkReese]

@@avrohomgurevich6951 - Oh haha Reason #5 = "Card Lineup Has Zero Creativity," but yes I did mention the card designs all being the same 😃👊 Great that you were able to go from the secured version to the unsecured, congrats!

[@avrohomgurevich6951]

Thank you

[@deepanpatel90]

Another great video Mark. To be honest, I think of BOA credit cards similarly to US Bank, and Wells Fargo credit cards. Not many options compared to the rest of the competition, and no outsized value. Other than the Alaska, Allegiant, and Spirit credit cards, their "travel" cards are actually just cash back cards. The lack of transfer partners kills them for sure. When it comes to the preferred rewards you get much more value as you mentioned, but for many people having that much money in savings is a task in itself, especially if you have a median income. In my honest opinion I think the Alaska Airlines Visa is the best card they offer. Alaska miles are hard to earn, and can be valued very highly. Second would be the Customized Cash card. I have a strong feeling that when Wells Fargo releases their rumored new Visa cards, they will be just like BOA. No transfer partners, travel cards that let you redeem "points" on travel purchases only as a statement credit. Basically cash back cards, unless they add transfer partners.

[@MarkReese]

Agreed, the Customized Cash card + the Alaska card are 2 solid options 👍

[@runyucai6695]

Boa offers the highest cash back once you have 100k with them

[@MarkReese]

The Preferred Rewards program is where the big value is! 💰

[@billdtravelandfinance5509]

nice...useful...thank you!

[@MarkReese]

You're welcome!

[@darriusjordan6229]

I keep my Bank Of America card just incase I find myself in a place that doesn't accept my AMEX card.

[@MarkReese]

Smart idea 👍

[@tonygiglia9767]

Closed my accounts from BA. 😊😊😊

[@MarkReese]

😬

[@BlackJesus8463]

Yup. Gotta have $100K in the there but if you catch a pandemic early with your 401K you might get lucky. lol

[@MarkReese]

😄👍

[@Toast0808]

Bank of America sucks as a bank as well. I know. I have an account with them, and I’m getting out soon.

[@MarkReese]

😬

[@ReeceReviews19]

@6:25 so true

[@MarkReese]

😁👍

[@fudgiemcfudge]

The identical points earning structure of the BofA Premium Rewards Elite card with the regular Premium Rewards card is a major turn off. I've had my Premium Rewards card for a few years and I would have liked the newest card to have higher multipliers. Oh well. I'm looking at other more versatile point earning cards w/transfer partners for my next one. Thanks Mark!

[@MarkReese]

Smart move to look elsewhere, Alex! 😁👊

[@henrycarey5657]

Echoing the sentiments of some other people in the comment section, but the Customized Cash Rewards card is the only BOA card I have currently and the only one I ever plan on having. The online shopping is my permanent pick for the 3% category, it’s really the only card I have seen that doesn’t specify certain websites. I basically only ever use it when I’m ordering something that I can’t find on Amazon or is a better price off of Amazon haha. I had a prior relationship with BOA so I actually got a mail offer for it and after researching it I applied. Had it for about 9 months now.

[@MarkReese]

Definitely a card that can be worth having 👊

[@dsldanv]

They will close your account if your used address is associated with identity fraud

[@MarkReese]

Doesn't surprise me 😁

[@lewis20002000]

LMAOOOOO, reminds me of your Luxery credit card review of the worst credit card on the market. BoA is lucky you're giving them a step by step breakdown of their lackluster credit card portfolio.

[@MarkReese]

😁

[@electroduval831]

I refuse to do business with BoA AND Wells Fargo. Propel is good but no thanks.

[@curmudgeonextraordinaire1884]

Propel is no longer offered.

[@MarkReese]

Fair enough! 🤙

[@AlyviaGranillo]

They keep targeting me but don’t feel rn is the time to enter their eco yet

[@MarkReese]

😁👍

[@faithful360]

Well I mean "Bank of America" and roll credits. They are the drizzled poo to deal with, their customer service is something akin to a failed Soviet Republic from the cold war era and their products are lackluster at best. The only one of interest is the Alaska card for me - but then I remember...........Bank of America.

[@MarkReese]

Haha 😂👊 Yes the Alaska card is solid ✈️

[@traildisc155]

I have 1mil plus with boa so i get special 3.21x on catch all Jk i dont

[@MarkReese]

Tell me your thoughts about BOA credit cards below 😁👇

[@brucelaw8574]

Mark If your preferred platinum member The 3 percent card is over 5 percent etc down the line Also easy at that level get other csrds Premium rewards card pays for itself as easy use airline credit won’t say here and best cash back card on the market at that preferred platinum honors level Also the 3.5 percent at wholesale clubs is awesome and best in class In addition review BOA definition of travel it is very broad Ymmv however Bruce

[@brucelaw8574]

Also Alaska card is great

[@brucelaw8574]

I have 2 personal and two business cards

[@MarkReese]

@@brucelaw8574 - Totally agreed on that 💯

[@MarkReese]

@@brucelaw8574 - For sure! I covered the BOA Preferred Rewards Program boost at 14:22 💯

[@ReeceReviews19]

Now do one on Wells Fargo lol 😂 they’ve improved though 😅

[@MarkReese]

Gotta wait to see what their card lineup looks like. Apparently more cards are rumored to be on their way.