Bank of America PREMIUM REWARDS Credit Card Review! (PLUS Bank of America Preferred Rewards!)
Mark Reese // Credit & Finance
•March 13th, 2021
DESCRIPTION
The Bank of America Premium Rewards card is a good travel credit card for beginners or those who have a banking / investment relationship with BoA / Merrill. Click “Show More” to see Ad Disclosure.
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WELCOME BONUS (March 2021)
Earn 50,000 points after spending $3K in the first 90 days. Value = $500.
ANNUAL FEE = $95
EARN POINTS
2X Travel
2X Dining
1.5X Other Purchases
WHAT COUNTS AS TRAVEL FOR BANK OF AMERICA PREMIUM REWARDS CARD
airlines
hotels
motels
timeshares
trailer parks
motor home and RV rentals
campgrounds
car rental agencies
truck and trailer rental
cruise lines
travel agencies
tour operators and real estate agents
passenger trains
buses
taxis
limousines
ferries
boat rentals
parking lots and garages
tolls and bridge fees
tourist attractions
exhibits, including: art galleries, amusement parks, carnivals, circuses, aquariums, zoos, etc.
BANK OF AMERICA PREFERRED REWARDS PROGRAM
There are a lot of benefits that come with this, one of which is a credit card rewards bonus. Get the details here: https://www.bankofamerica.com/preferred-rewards
REDEEM POINTS
Points are worth 1.0¢ each when redeemed in the following ways:
- Cash Back: Statement credit, deposit to a checking account or savings account with Bank of America or investment account with Merrill.
- Gift Cards
- Travel via BoA portal
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD BENEFITS
- Airline Incidental Credit ($100): Get up to $100 each year for qualifying purchases (including: seat upgrades, baggage fees, in-flight services, & airline lounge fees). Applied automatically applied to your card statement
-TSA Precheck or Global Entry Credit: Get a statement credit towards either application fee every 4 years - $85 towards TSA Precheck - $100 towards Global Entry
- Visa Signature Luxury Hotel Collection: Enjoy premium benefits at select hotels around the world
- Visa Signature Concierge Service: Get help with travel planning, restaurant recommendations and event reservations
- No Foreign Transaction Fees
BANKAMERIDEALS
These are similar to Amex Offers and Chase Offers, whereby you can add digital, cash-back coupons to your card account to get additional rewards at select merchants. Simply add them to your card, use your card with those retailers, and the additional cash back will be credited to your account!
INSURANCE & PROTECTIONS
Auto Rental Collision Damage Waiver
Roadside Dispatch Program
Trip Delay Reimbursement
Trip Cancellation / Interruption
Baggage Delay
Lost Luggage Reimbursement
Travel & Emergency Assistance Services
Emergency Evacuation & Transportation Coverage
Purchase Security
Warranty Manager Service
Return Protection
See the details here: https://www.bankofamerica.com/credit-cards/premium-benefits
GOOD TO KNOW
- No limit to how many points you can earn
- Points do not expire
- Bank of America tends to be a ‘relationship bank,’ meaning your chances of approval will likely be higher if you have a banking relationship with BoA.
SHOULD YOU GET IT?
YES if you…
- Spend on travel & dining
- Are a budget traveler
- Value simple & flexible rewards
- Travel value = cash back value
- Have a relationship with BoA / Merrill
NO if you…
- Don’t travel much
- Want huge value for expensive travel (lux hotels, int’l flights, etc.)
- Want transfer partners
- Don’t like annual fees
- Want VIP travel perks
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#creditcards #bankofamerica #travelrewards
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