The new Bank Of America Premium Rewards Card is officially available starting today. The Bank Of America Premium Rewards card is Bank Of America's attempt to enter the premium rewards card market, to compete against cards like the Chase Sapphire Preferred card.
New Bank Of America Premium Rewards Card
Bank Of America has officially introduced the new Bank Of America Premium Rewards card today. The card offers a fairly high bonus which can be used for a statement credit (cash back) in your Bank Of America or Merryll Lynch accounts. The points can also be used to purchase travel through Bank Of America travel center.
Here are the details of the new Bank Of America Premium Rewards card:
- Bonus: 50,000 points
- Spend Requirement: $3000 in the first 3 months
- Annual Fee: $95 (not waived the first year)
- Release Date: September 18
- Type Of Card: Premium Rewards Visa Signature card
- Other Benefits:
- 2x points on travel & dining
- 1.5x on everything else
- Preferred Rewards clients can earn up to 3.5x on travel & dining and 2.6x on everything else (if you are a Bank Of America or Merryll Lynch customer, you can get between 25% to 75% additional rewards bonus on purchases, depending on how much is in your account)
- $100 credit for Global Entry or TSA Pre√ every 4 years
- $100 credit for domestic airline incidental costs (baggage fees, in-flight purchases, lounge access...)
- Points do not expire
- Redeeming Points: various ways you can redeem your points:
- Cash back at 1% (each point is worth 1 cent) into your Bank of America or Merryll Lynch accounts
- Travel through the Bank Of America Travel Center (flights, hotel, car)
- Gift Cards
This would be a good card to get if you can. There is nothing spectacular about the bonus, but 50,000 points (worth $500) and a card that earns a minimum of 2% on travel & dining and 1.5% on all other purchases is a solid option. If you are a Bank Of America or Merryll Lynch customer your bonus could go up to 3.5% on travel & dining and 2.625% on all remaining purchases. You need over $100,000 in Bank Of America or Merryll Lynch accounts to get the highest reward bonus. The $100 annual airline credit for domestic airline incidental costs helps to offset the $95 annual fee, which is not waived the frist year. And the $100 credit for Global Entry or TSA Pre√ helps to improve the card.
More useful links & information on how to earn free travel, and on other airline credit cards, hotel and travel airline credit cards to help you to earn free travel:
Book Hotels & Find Great Hotel Deals (over 1.4 million hotels)
Airline credit cards and hotel & travel credit cards are the best way to earn enough miles or points to enjoy free travel, whether for business or for vacation. There are also other ways you can earn airline and travel miles or points.
Happy traveling !