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The new Bank of America® Premium Rewards® credit card is a great option for earning rewards and perks on your travel purchases. If you travel and prefer a rewards card that offers more than the average travel card, this premier card is one you should consider. (See also: Best Premium Credit Cards)
Why We Like This Card
50,000 bonus points offer ($500 value) Unlimited 2 points for every $1 spent on travel and dining. Plus, earn 2 points for every $1 spent on grocery store purchases— now through 12/31/21.
How This Card Works
This card awards an unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases. Plus, earn 2 points for every $1 spent on grocery store purchases— now through 12/31/21. There is a $95 annual fee and no foreign transaction fees. This is extremely reasonable for a card that comes with premium benefits and perks.
Bonus offer. Earn 50,000 bonus points after you make at least $3,000 in purchases in the first 90 days of account opening. That’s a $500 value.
Your points do not expire, and you can redeem them for cash back as a statement credit, deposit into eligible Bank of America®
Bonus worth $500. If you make at least $3,000 in purchases with the card within the first 90 days of opening the account, you can earn a bonus of 50,000 bonus points. This bonus is worth $500, which is one of the most valuable bonuses currently offered. (See also: Best Airline Miles Bonuses)
Low annual fee. You won ’t find many other travel rewards cards or premium cards available with an annual fee that is less than $100. In fact, most of the premium cards with additional travel benefits carry annual fees of at least $400 per year.
Customer bonus. If you ’re a Preferred Rewards member, your points bonus will increase by 25%-75%.
Travel benefits. The $100 annual airline incidental credit is enough to help pay the card ’s annual fee. You also get a $100 credit every four years that you can use for TSA Pre✓® or Global Entry. Plus, this card comes with travel insurance protection which includes protections for assisting with trip delays, cancellations and interruptions, baggage delay inconvenience, lost luggage and emergency evacuation and transportation. (See also: Best Credit Cards that Offer TSA Pre Check or Global Entry Credit)
Who This Card Is Best For
This card is best for those who frequently travel and dine out, especially if you are able to use the annual airline incidental credit and the credit you get for TSA Pre✓® or Global Entry. Further, if you are already a Bank of America customer or plan on becoming one, this card offers the most rewards. Because there is no foreign transaction fee, it ’s also ideal for making purchases outside of the US.