Table Of Contents
- The Bank of America Premium Reward Credit Card Pros & Cons
- 1) The Yearly fee is within reach
- 2) The traveling credits include a great touch
- 3) The sign-up bonus is aggressive
- 4) Score above-average benefits for everyday spending
- Who can apply for this card
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The Bank of America Premium Reward Credit Card stands out as opposed to numerous other travel rewards cards due to the traveling perks it provides for a comparatively low yearly fee.
Bank of America Premium Rewards Credit Card is Very competitive with Present top cards, such as the Chase Sapphire Preferred® Card along with the Bank of America® Travel Rewards Visa® credit card.
This card shouldn’t be directly compared to Chase Sapphire Reserve® or some other authentic premium card, because it comes in at a different price point and has quite a different set of advantages.
In this Article, we are going to provide you with all the necessary information regarding BOA Premium Rewards Card .
The Bank of America Premium Reward Credit Card Pros & Cons
| Sign-up bonus is Good||No Priority Pass™ airport lounge access|
|Airline incidental fee credit|| |
No airline or hotel point transfer partners
|TSA PreCheck or Global Entry application fee credit||No bonus for travel redemptions|
|Above-average rewards for everyday spending|
|Low annual fee for the rewards offered|
You need to consider the below four things about the Bank of America Premium Rewards Credit Card
1) The Yearly fee is within reach
The Bank of America Premium Reward credit card charges a decent $95 annual fee for the benefits it provides.
You usually find this type of yearly fee on mid-tier travel rewards cards such as the Chase Sapphire Preferred® Card, which provides fewer traveling perks overall to the price. By comparison, some other superior credit cards charge annual fees over $400.
Therefore the Bank of America Premium Reward credit card may serve to reduce the barrier to entry for many Men and Women that are turned off from the Yearly fees billed by more costly competitors at the premium benefits distance
2) The traveling credits include a great touch
The traveling credits are what set the Bank of America Premium Reward credit card aside as a premium rewards card.
To begin with, you will get a $100 airline incidental fee statement credits. While it will not cover airfare, it may be utilized to pay for things like bags fees, lounge prices, seat upgrades and onboard purchases of meals, beverages or entertainment.
You will also be eligible to get a 100 airport safety statement credits, which may be used once every four years to cover the price of applying for International Entrance or TSA PreCheck.
While You May Be able to obtain more precious travel credits from additional premium credit cards, then you won’t locate either of the benefits provided by most conventional travel rewards cards using a similar Yearly fee
3) The sign-up bonus is aggressive
The Bank of all America® Premium Rewards® Visa® credit card provides 50,000 bonus points when you spend $3,000 on purchases during the first 90 days after opening the account. That sign-up bonus is worth $500.
That’s certainly not chump change, however, it is possible to locate a more valuable sign-up bonus from a different credit card. By way of example, the Chase Sapphire Preferred® Card comes with a 60,000-point signup bonus after you spend $4,000 on purchases during the initial 3 weeks after opening the accounts. If you redeem your points through Chase Ultimate Rewards®, the sign-up bonus is worth $750 toward travel.
4) Score above-average benefits for everyday spending
The Bank of all America® Premium Rewards® Visa® credit card provides competitive rewards for regular spending.
You will get two points for every $1 you spend on traveling and dining table, and 1.5 points each $1 spent on all other purchases. Many travel rewards cards offer you a base rate of just 1 point per $1, so this is one of the best deals for regular spending that we’ve seen.
But with earning an increased 1.5 points on regular spending, you would still need to spend approximately $33,334 on everyday purchases to make 50,000 points
Who can apply for this card
The Bank of America Premium Reward Visa Credit Card is very good for frequent flyers who need more than just what a normal travel rewards card provides but do not wish to pay an especially expensive annual charge.
It may not be the most suitable choice for people looking for more elite traveling benefits and redemption options. Less-frequent travelers with no requirement for TSA PreCheck or even the traveling credits could have the ability to get more value out of a card with a lower annual fee.