Bank of America rewards Question

[Jussabitconfused]

I turned in reward points enough for a $500 companion fare on a cruise. I did this back in May. The final payment is due November 26. My balance yesterday was $2014 so I decided to pay $1514 and leave the $500 for Bank of America to pay. They said they would do it close to final payment. 

Well today my balance reads $150. Does anyone know what happens to your reward money if there is too low of a balance due compared to what they agree to pay towards it?

[jbrinkm]

I don't, but if they go ahead and pay the full $500, the rest might be credited towards OBC. Was the balance reduction due to a new (lower) price on the cruise?

[Jussabitconfused]

Maybe, I will check and see. But last time I checked the price had gone way up.

[GJustice]

Don't risk losing your cruise if final payment isn't covered on time, regardless of rewards points.

 

Points can always be "fixed' after the fact. No always so with cruise cancelled for missing final payment.

[Jussabitconfused]

1 hour ago, GJustice said:

Don't risk losing your cruise if final payment isn't covered on time, regardless of rewards points.

 

Points can always be "fixed' after the fact. No always so with cruise cancelled for missing final payment.

I will keep watching it till the final payment day and make the payment myself if needed. It's only $150 now, so no big deal.

[Cigar King]

23 hours ago, Jussabitconfused said:

I turned in reward points enough for a $500 companion fare on a cruise. I did this back in May. The final payment is due November 26. My balance yesterday was $2014 so I decided to pay $1514 and leave the $500 for Bank of America to pay. They said they would do it close to final payment. 

This newish policy about applying the credit close to final payment is making me seriously consider dumping the card.  It's not that good anyway and I don't like the stress of waiting for the payment to show up.

[Ret MP]

I've only used my Royal Caribbean/BOA Visa rewards once and it was for OBCs on the Ovation May 2022.  It was easy peasy, I had no problem at all.  However, I am like you, @Cigar King, I'm not so sure the card, and others, is a great value, especially with a ~20% interest rate or higher.  Not to brag, I have far more CCs than I need, many offer rewards points.  One, which is from my Credit Union Visa offers nothing other than a straightforward 7.490% rate.  I very rarely use that card but now I'm opening my eyes that the savings in % rates are much better than rewards returns/offerings.  I believe credit card utilization in my future is subject to change.  I've got a good amount of OBCs built up on the RCCL/BOA card right now and plan on using it during my next cruise in Jan.  But, that is where it will stop and I'll use the OBCs on my cruise after this one.  Of course, we can avoid % rates altogether by paying the CC off, in full, before the grace period is up.  Which is what I generally do.  Sometimes the stars don't align properly and I have to go with two months of payments when I pay for a large ticket item (usually RCCL cruises with double points, Ha Ha).  But, that's my fault. 

[Cigar King]

1 hour ago, Ret MP said:

've only used my Royal Caribbean/BOA Visa rewards once and it was for OBCs on the Ovation May 2022.  It was easy peasy, I had no problem at all.

Just to be clear, there is a difference between redeeming rewards for OBC and payments towards a cruise.  The latter is where they are now not applying them until close to the final payment date.

 

[Tree_skier]

Just an FYI to all who have the card.  Until Nov 24th you are currently getting 4 points for each $ spent at Royal.  If you have cruise planner purchases or a cruise to pay off this is an advantageous time to do it.  

 

 

[Ret MP]

2 hours ago, Cigar King said:

Just to be clear, there is a difference between redeeming rewards for OBC and payments towards a cruise.  The latter is where they are now not applying them until close to the final payment date.

 

No need to be clear, I fully understand and know!

[cruiseguy1016]

3 hours ago, Ret MP said:

I've only used my Royal Caribbean/BOA Visa rewards once and it was for OBCs on the Ovation May 2022.  It was easy peasy, I had no problem at all.  However, I am like you, @Cigar King, I'm not so sure the card, and others, is a great value, especially with a ~20% interest rate or higher.  Not to brag, I have far more CCs than I need, many offer rewards points.  One, which is from my Credit Union Visa offers nothing other than a straightforward 7.490% rate.  I very rarely use that card but now I'm opening my eyes that the savings in % rates are much better than rewards returns/offerings.  I believe credit card utilization in my future is subject to change.  I've got a good amount of OBCs built up on the RCCL/BOA card right now and plan on using it during my next cruise in Jan.  But, that is where it will stop and I'll use the OBCs on my cruise after this one.  Of course, we can avoid % rates altogether by paying the CC off, in full, before the grace period is up.  Which is what I generally do.  Sometimes the stars don't align properly and I have to go with two months of payments when I pay for a large ticket item (usually RCCL cruises with double points, Ha Ha).  But, that's my fault. 

 

I never worry about interest rates. I pay off the card in full every month.

[Ret MP]

1 minute ago, cruiseguy1016 said:

 

I never worry about interest rates. I pay off the card in full every month.

For the most part, meeeee toooo.  But, there are always exceptions.  A few decades ago, I was a Credit Cardaholic.  I loved using them and not paying them off, it seemed so easy.  No, I never defaulted on it but I did get myself in a big hole.  I actually had to refinance my home to pay off my CC debt.  Never again.  If I can't pay for it in cash or when I receive the statement, I don't need it.  But again, there are always exceptions.  Since I developed that payoff philosophy, I can't tell you how much better I sleep at night and how much more money I have each month.  I'm no longer living paycheck to paycheck.  I've actually been able to save money and go on extended and exotic vacations with my wife.  

 

The last exception to my rule was I booked a cruise and just before the final payment, I had to purchase a new and complete HVAC system for my home, including ductwork and going from electric to gas/electric.  It wasn't purdy!

[molly361]

1 hour ago, Tree_skier said:

Just an FYI to all who have the card.  Until Nov 24th you are currently getting 4 points for each $ spent at Royal.  If you have cruise planner purchases or a cruise to pay off this is an advantageous time to do it.  

 

 

Is that a special deal?  I don't see if mentioned when I log in to B of A and Google isn't helping me either

Edited November 16, 2023 by molly361

[Tree_skier]

3 hours ago, molly361 said:

Is that a special deal?  I don't see if mentioned when I log in to B of A and Google isn't helping me either

Yeah, I got an email a few days ago (seems I deleted it so I can't post it) and when I go to my pending points it is showing as 4 pts per $1 spent.  I'll look through my trash file but I don't expect much.  

 

EDIT: This is from my rewards page on my banking...

 

You can see 4 pts per $1

Edited November 17, 2023 by Tree_skier

[Jussabitconfused]

1 hour ago, Tree_skier said:

Yeah, I got an email a few days ago (seems I deleted it so I can't post it) and when I go to my pending points it is showing as 4 pts per $1 spent.  I'll look through my trash file but I don't expect much.  

 

EDIT: This is from my rewards page on my banking...

 

You can see 4 pts per $1

I see the bonus points, too. Going to get all my cruise balances paid for with the card before this ends. Thanks for the heads up.

[Tree_skier]

I found the email 

 

[js]

17 hours ago, Tree_skier said:

Yeah, I got an email a few days ago (seems I deleted it so I can't post it) and when I go to my pending points it is showing as 4 pts per $1 spent.  I'll look through my trash file but I don't expect much.  

 

EDIT: This is from my rewards page on my banking...

 

You can see 4 pts per $1

What is absolutely more amazing to me is that you walked out of Costco only spending less than $30!!! It is NEVER under $500 for us!

 

[bulldogmommy]

I cannot find my email either, does the fine print say anything about making payments on balances?

[Tree_skier]

48 minutes ago, js said:

What is absolutely more amazing to me is that you walked out of Costco only spending less than $30!!! It is NEVER under $500 for us!

 

LOL, that was the second trip in two days.  I just forgot one thing and had to go back.  The first bill was much bigger 😉 

[Tree_skier]

48 minutes ago, bulldogmommy said:

I cannot find my email either, does the fine print say anything about making payments on balances?

No

[Jetdriver787]

Bank of America indeed!!! 🤦🏻‍♂️

All I can say is, don’t ever go in there to make a withdrawal when you are suffering with Laryngitis!!! 🤷‍♂️

[KelJ]

On 11/16/2023 at 2:36 PM, Tree_skier said:

Just an FYI to all who have the card.  Until Nov 24th you are currently getting 4 points for each $ spent at Royal.  If you have cruise planner purchases or a cruise to pay off this is an advantageous time to do it.  

 

 

 

My email from B of A says the 4X points are from November 10th through December 10th.

[KelJ]

2 hours ago, bulldogmommy said:

I cannot find my email either, does the fine print say anything about making payments on balances?

 

The 4X points are for Royal and Celebrity purchases (except onboard).

[Tree_skier]

1 hour ago, KelJ said:

 

My email from B of A says the 4X points are from November 10th through December 10th.

Yeah, I just got another email today and noticed that as well.  I don't know if my first email was wrong, has since been updated or I just read it wrong some how.  Either way, it is available throughout the Black Friday Cyber Monday sale and, apparently, beyond.

[Jussabitconfused]

9 hours ago, bulldogmommy said:

I cannot find my email either, does the fine print say anything about making payments on balances?

I paid off or made payments on a couple of

cruises and got 4X points for the payments.