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 Reward 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.
|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
The Bank of America® Premium Rewards® Visa® credit card charges a decent $95 annual fee for the benefits it provides.
Normally you can see this kind of yearly fee on the average travel Rewards cards like the Chase Sapphire Preferred Card which provides lesser benefits for its cost.
On the contrary, some other superior credit cards take a yearly fees over $400. So the Bank of America Premium Rewards Credit Card May serve to lower the barrier to entry for a lot of people that are not happy by the Yearly fees.
The travel credits offered on Bank of America Premium Rewards Visa credit card sets apart from other premium rewards cards.
To start with, you’ll find a $100 airline incidental fee announcement credits. Although airfare won’t be covered by it, it may be used to pay for items such as luggage costs, seat upgrades and onboard purchases of foods, beverages or entertainment.
You are also capable to obtain there pops up a 100 airport safety statement, which could be used after every four years to cover the cost of applying for TSA PreCheck or International Entrance.
In the initial 90 days after opening the account, this card gives 50,000 bonus points when you spend $3,000 on purchases The bonus for the sign-up is worth $500.
It is certainly not a great change, however, it’s likely to locate a sign-up bonus that is more valuable from a different credit card. After opening the account, once you spend $ 4,000 on buys during the first 3 months As an instance, the Chase Sapphire Preferred Card comes with a 60,000-point sign-up bonus. The signup bonus is worth $750 toward travel if you redeem your points via Chase Ultimate Rewards.
The Bank of America Premium Rewards credit card provides competitive rewards for routine spending.
Spending every $1 on travel and dining, You’ll get two points and Spending every $1 on all other purchases you get 1.5 points. Many travel rewards cards Provide a base price of just one point per $1, so this is among the Greatest Deals for Regular spending that We’ve seen
However, even with earning an elevated 1.5 points on Regular spending, you would still need to spend approximately $33,334 on everyday purchases to make 50,000 points
The Bank of America Premium Rewards Credit Card is extremely great for frequent flyers that want more than what a typical travel benefits card supplies but don’t want to cover a particularly expensive yearly charge.
It might not be the most appropriate selection for those searching for more elite travel benefits and salvation choices.
Low frequent travelers without a demand to get the travel credits or TSA PreCheck might be able to get more value out of a card with a lower annual fee.
If the Bank of America Premium Reward Credit Card does not float your boat, the below are the other travel cards that may be a better fit for your wallet.
Bank of America® Travel Rewards credit card: This card may attract less-frequent travelers that do not mind a less lavish airport experience
Chase Sapphire Reserve®: This card may be suitable for ordinary travelers who need a low-hassle airport experience.
Platinum Card® from American Express: This card can be used for your rich-minded traveler.
Capital One® Venture® Rewards Credit Card: This card is a fantastic solution for power users that intend to use it for most of their credit purchases
The Bank of America® Premium Rewards® Credit Card is excellent for Bank of America customers using a credit rating of 700 who need top-notch benefits without needing to cover the equivalent amount yearly fee.
You’ll get only 1.17 per $1 on average points cards. The yearly fees of the Bank of America Premium Rewards credit card is $95. Nevertheless, that is worth paying if you are a big-spender who Intends to make this your regular credit Card.
This card provides competitive benefits for daily spending. Spending every $1 on travel and dining, you’ll get two points and spending every $1 on all other purchases you get 1.5 points.
To do this, sign-in into your Bank of America account, then you need select your Premium Reward credit card from the given list of accounts and then just click on “Rewards” tab. This tab provide you a choice to redeem them and will reveal your overall balance points.
In case, you think your Bank of America card no more functions for you, it is possible to ask an update or even downgrade to another product with the bank. Whether you wish to get travel points or cashback, invest somewhat on an yearly fee to unlock perks or avoid an yearly fee, there’s probably a Bank of America card to get you.
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