For the frequent travelers searching for a nice credit card to earn rewards, look no further. Introducing the new Bank of America Premium Rewards Credit Card. It offers several perks that travelers will love!
This card offers 50,000 bonus points after you make at least $3,000 in purchases in the first 3 months of the account opening! This card is a terrific, flexible choice for flyers who want to earn unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
Along with this, if you are traveling outside of the United States, you will not incur any foreign transaction fee using this card. If you’re interested in what more the Bank of America Premium Rewards Credit Card has to offer, see below!
* The Premium Rewards Card is issued by Bank of America. They also offer great sign-up bonuses for their Checking/Savings accounts.
Table of Contents
Bank of America Premium Rewards Card Summary
|Bonus Available||50,000 bonus points ($500 value) after you make at least $3,000 in purchases in the first 90 days of account opening|
|Travel Credit||$100 Airline Incidental Statement Credit annually.
$100 Airport Security Statement Credit towards TSA Pre? or Global Entry Application fee, every four years.
Unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
|Foreign Transaction Fees||No|
|Annual Fee||No complimentary lounge access, but airline lounge fees count toward the $100 annual Airline Incidental Statement Credit rewards.|
|Airport Lounge Access||$95|
- 50,000 bonus miles
- Bank of America Preferred Rewards points boost
- No foreign transaction fees
- Up to $200 in combined travel statement credits
- Has an annual fee
- Good-Excellent credit needed to qualify
- Best rewards rate limited to specific BoA customers
What are BoA Premium Rewards Card Points Worth?
Each point is worth 1 cent, 50,000 points are valued at $500.
You can redeem your points in three different ways:
- Points can be redeemed as a statement credit, or as a deposit into your eligible Bank of America or Merrill Lynch accounts
- Purchase travel (air, car, and hotel) through the Bank of America Travel Center
- Purchase gift cards
Bank of America Premium Rewards Card Benefits
- Travel, purchase, and automotive protections
- VISA Signature Luxury Hotel Collection, concierge service
- An optional service to help prevent declined purchases, returned checks or other overdrafts when you link your eligible Bank of America® checking account to your credit card. Transfer fees may apply.
- Paperless credit card statements and increase account security while reducing paper consumption.
- Access to our award-winning Online and Mobile Banking. Bank on the go from almost anywhere quickly and securely. Pay your credit card bill online, transfer funds, check available credit and more
- Stay on top of your balances and due dates. Choose from several types of customer email or text alerts and let your phone tell you when payments are due and paid
- Get the account information you need quickly by text. Simply send a text message and you’ll get a reply in seconds
- When you opt-in, you can access your FICO Score updated monthly for free, within your Mobile Banking app or in Online Banking
Bank of America Premium Rewards Card Top Features
If you’re a Bank of America Preferred Rewards client with at least $20,000 in combined accounts, you can enjoy a 25% – 75% rewards bonus on every purchase. Qualifying accounts include Bank of America (Checking/Savings). That means you could earn up to 3.5 points per $1 on travel and dining purchases and up to 2.625 points per $1 on all other purchases.
|Balance in Account||Rewards Bonus||Points per Dollar Earned|
|Under $20,000||0%||Travel/dining: 2
Other spending: 1.5
|Gold- $20,000 to $49,999||25%||Travel/dining: 2.5
Other spending: 1.875
|Platinum- $50,000 to $99,999||50%||Travel/dining: 3
Other spending: 2.25
|Platinum Honors- $100,000+||75%||Travel/dining: 3.5
Other spending: 2.625
Get up to a $100 Airline Incidental Statement Credit annually for qualifying purchases such as seat upgrades, baggage fees, in-flight services, and airline lounge fees – automatically applied to your card statement.
Get up to $100 Airport Security Statement Credit towards TSA PreCheck or Global Entry Application fee, every four years.
For best use of the card, use the credit towards Global Entry, since the rewards membership already includes TSA PreCheck.
Having no foreign transaction fees is a necessity of any good travel rewards card. You don’t want to be concerned with how much you’ll get hit with transaction fees when you make a purchase abroad. Use the card anywhere in the world without having to pay an extra ~3%.
|Best Credit Card Categories|
|0% APR||Airline Rewards||Balance Transfer|
|Cash Back||Hotel Rewards||Military|
|No Annual Fee||No Foreign Transaction Fee||Premium|
|Small Business||Student||Travel Rewards|
Travelers, it’s time to take advantage of what credit cards have to offer. The Bank of America Premium Rewards Card is an example of a travelers card that has several perks and benefits to it. Frequent flyers are able to maximize their travels with this simple card.
By simply signing, you could receive a 50,000 bonus points after you make at least $3,000 in purchases within the first 3 months. On top of that, start earning unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
(Visit Bank of America for more details about this card.)
The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
Who’s the Competition?
Alternative for Travel and Dining
With the Chase Sapphire Preferred Card, you can choose to move your points to a participating airline or hotel partner for great redemption value. This card also earns its highest rate on Travel and Dining purchases.
With the Chase Sapphire Preferred® Card:
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
• Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
• 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
• No foreign transaction fees
• 1:1 point transfer to leading airline and hotel loyalty programs
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
• No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
For More Flexibility
The Barclaycard Arrival Plus® World Elite Mastercard® offers a top sign-up bonus and rewards that don’t restrict you to any airline or hotel, you’ll earn the best rate on all purchases, regardless of merchant category.
For Simple Rewards
The Capital One Venture Rewards Credit Card doesn’t require much effort in managing points and redeeming them. You’ll get a flat 2% rewards rate for all purchases.
With the Capital One® Venture® Rewards Card:
• Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
• Earn 2X miles on every purchase, every day. Plus earn 10X miles on thousands of hotels, through January 2020; learn more at hotels.com/venture
• Named ‘The Best Travel Card' by CNBC, 2018
• Receive up to $100 application fee credit for Global Entry or TSA Pre?®
• Fly any airline, stay at any hotel, anytime; no blackout dates. Plus transfer your miles to over 12 leading travel loyalty programs
• Miles won't expire for the life of the account and there's no limit to how many you can earn
• No foreign transaction fees
• $0 intro annual fee for the first year; $95 after that
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