Wanted to give people a heads-up: We used our Bank of America card to pay a counselor for some services via PayPal. Apparently the way this type of payment processes with Bank of America registers it as a "cash equivalent" transaction, instead of a standard credit card transaction. This results in no rewards, a $10 fee, and an interest charge on that amount from the day it posts! While Bank of America was able to refund the interest charge, they refused to refund the $10 fee, even though the manager we talk to stated that this is a new change that they rolled out last year.
The only way to avoid it (at least hopefully avoid it) is to set the credit line available for cash transactions to $0, which we did as we don't use that feature at all. Now time to wait and make sure that they make that change properly - and be ever wary of whatever new type of fee or expansion of a fee that BoA will implement!
The only way to avoid it (at least hopefully avoid it) is to set the credit line available for cash transactions to $0, which we did as we don't use that feature at all. Now time to wait and make sure that they make that change properly - and be ever wary of whatever new type of fee or expansion of a fee that BoA will implement!