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How does Bank of America make money from Preferred Rewards?

Jake Broe 9 views

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If you did not catch my Bank of America Trifecta video, check that out here ----> youtube/4SVUXh2kGVM
Comment from : @JakeBroe

😂Watching this in 2024 laughing that he thinks 500 per month in groceries is high (I have a family of 5)
Comment from : @FrancisMacomber1936

🤔 Why is BoA premier rewards savings 🤔not fdic insured?
Comment from : @vjiggy81

they put the BofA in BOFA DEEZ nuts
Comment from : @aesthetics4days

this bank is so ass lol
Comment from : @aesthetics4days

Thanks for this video, really helped me out and broke it down nicely I just subscribed! :)👌🏻
Comment from : @Therealaliking

Love the critical thinking
Comment from : @Bacciagalupe

They just came out with the unlimited no cap 15 cash rewards
Comment from : @hoodjyrome3030

What if you have multiple cash back rewards cards and use them for all different categories and use the Premium Rewards as your catch all card, assuming Platinum Honors
Comment from : @SuperStaley

Thanks for reading the fine print
Comment from : @RHEYMS

I ran across the Preferred Rewards yesterday while looking at Merrill Edge The credit card reward boost is appealing, but the auto loan interest rate and mortgage lender fee reductions may not be worth it as other lenders have lower rates and origination fees
Comment from : @caseyhartman7094

Even thought he BOA cash rewards is great, the "all other purchases" category at 1 is kind of weak, even with Platinum Honors (175) Besides the boa travel card, are there better cards out there for "all other purchases"?
Comment from : @johnstack5008

To get around the quarterly cap, you can apply for more than one Cash Rewards card Same card but different accounts Each card will have will have it's own quarterly cap and each can be set to a different 3 catagory
Comment from : @johnstack5008

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Comment from : @KageToonZ

Woah! Thanks for the video Jake I didn't realize about the quarter capbrI'm a Platinum Honors member, the auto loan, and home loan rates are actually very unsatisfactory I'm using other companies other than BAC
Comment from : @MrYoonKim

Thanks for letting me know the details Any draw back on merely joining?
Comment from : @averageguy1261

Don’t forget the 2500 Cap has no ten 99 sent to you!,
Comment from : @caroleL3133

I'm gonna keep this simple! DON'T BANK WITH BANK OF AMERICA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I worked for them in a undisclosed location in the South from 2017-2018 through a 3rd party vendor which we wasn't actual Bank Of America Employees i worked in the Check Fraud Department and the people who worked in Credit Card were 50 feet away from me there is NO Drug Testing for the Job, the only requirement is that you dont have felonies People would smoke Meth! or Crack in the parking lot and go back in and take calls your personal information is in the hands of Meth Heads and we don't care what your problems are we were to make the company money even if it mean't screwing you over!!!!
Comment from : @JamminJim19

There's this one guy at work who thinks he's punishing the new world order by not using credit cards lololol jk,,, I don't have a job :(
Comment from : @GoldOxide8463

That is why you get multiple of the cards
Comment from : @amherst2013

Ayyy love being the inspiration of a video Subscriber for life! :)
Comment from : @JacksonWelch

your forgetting about the cashout bonus if you have a bank of America Account
Comment from : @dankill16

Interesting video! Clear explanation of their system of making money from these rewards!
Comment from : @domenicomartistocks

If you’re paying attention you’d switch to the Premium Rewards when you hit the cap on the Cash Rewards No cap on that card Still pretty good, or if you have a spare Cash Rewards or equivalent you can set both to the same category for a $5k effective cap
Comment from : @headlibrarian1996