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 three 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!
|Chase Sapphire Preferred Card 100K Points*||Citi Premier® Card 80K Points*
|The Platinum Card® from American Express 100K Points*||Capital One Venture Rewards Credit Card 60K Points*|
|American Express® Gold Card 60K Points*||Citi CustomSM Cash Card $200 Bonus*|
|Chase Freedom Flex $200 Bonus*||Chase Freedom Unlimited Card $200 Bonus*|
|Blue Cash Preferred® Card from American Express $150 Bonus*||Blue Cash Everyday® Card from American Express $100 Bonus*|
|Chase Ink Business PreferredSM Card 100K Points*||Chase Ink Business UnlimitedSM Credit Card $750 Bonus*|
|U.S. Bank Altitude® Go Visa Signature® Card $200 Bonus*||Capital One Quicksilver Cash Rewards Card $200 Bonus*|
|Wells Fargo Platinum card 18 Months of 0% BT & Purchases||*Must make minimum spending requirement to earn bonus|
* The Premium Rewards Card is issued by Bank of America. They also offer great sign-up bonuses for their Checking/Savings accounts. You can also compare this card with other credit card bonuses!
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|
(Visit Bank of America for more details about this card)
Bank Of America Premium Rewards 50,000 Bonus Points
Take advantage of the 50,000 bonus points offer for the Bank o America Premium Rewards credit card! To qualify, you’ll need to spend at least $3,000 within the first 90 days of account opening.
|• Plastiq - Using Plastiq allows you to pay for your personal expenses such as rent, tuition, mortgage, auto lease etc. Although they charge a 2.5% processing fee for using your credit card, this will contribute to the card bonus that you will receive. There is also a referral program that allows you to earn "Free-Free Dollars" that goes towards processing fees as well.|
|• Funding Checking Accounts - When it comes to funding a checking account, opening your initial deposit with a credit card is the usual way to go about it. However, if you want to have more opportunities, you should open a checking account that offers a sign-up bonus. This allows you to work towards bonuses from not one but two different sources instead. Banks like Chase, Huntington Bank, TD Bank and BBVA offers credit card funding, and for your opening deposit, you can often fund anywhere from $50-$1000 with a credit card, depending on the bank.|
|• Gift Card Purchases With Using a Credit Card - Another way to acquire the bonus is using your credit card to purchase gift cards. Buying a a gift card or an individual merchant card typically do not require a purchase fee and are used towards leisure, so gift cards are ideal. However, gift cards such as a Visa or American Express do incur purchase fees because they can be spent anywhere, but gift cards that are specifically for a certain online shopping site such as Amazon or eBay don't.|
|As for a Citi Credit Card, you should call customer service and ask them to lower your Cash Advance limit to $0 before making any purchases because Citi tends to read gift card purchases as a Cash Advance.
Ideally, you should do this with any card just to be safe. Lastly, there is such thing as a discounted gift card which can be purchased on Raise or eBay. If you use a credit card often for everyday purchases, it can build your credit score that will contribute towards paying for things such as bills and taxes.
What are BoA Premium Rewards Card Points Worth?
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%.
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.
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.