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4 reasons to get the Bank of America Premium Rewards card

By on March 11, 2021 0

the Bank of America® Premium Rewards® Credit Card is best known for the benefits it offers to Bank of America® Preferred Rewards members, that is, customers who maintain average combined balances of at least $ 20,000 or more in their Bank investment accounts of America® or Merrill Lynch.

These customers not only enjoy perks like lower rates on auto loans and higher interest rates on their savings, but they also earn 25% to 75% more points with the Bank of America® Premium Rewards® Credit Card. The increase in rewards depends on the level of the cardholder’s Preferred Rewards program:

Preferred Gold Tier Rewards members get 25% bonus on Bank of America rewards® points they earn using the card.

Platinum Members get a 50% bonus on the number of points they earn.

Platinum Honors Preferred Rewards Members get a 75% boost.

These are eye-catching perks for customers who already have tens of thousands of dollars in Bank of America® or Merrill Lynch accounts. But people who don’t wonder if this card is for them.

the Bank of America® Premium Rewards® Credit Card has benefits that might still be appealing to people who keep most of their money in 401 (k) or even sofa cushions. Although the card bears a $ 95 annual fee, maybe worth paying. Here are some of the reasons you might want Bank of America® Premium Rewards® Credit Card.

1. Flexible buybacks

If you don’t like to commit to using your rewards for travel, the Bank of America® Premium Rewards® Credit Card gives you flexibility. If you want to use your points to purchase travel through the Bank of America® Travel Center, you can. Don’t feel like traveling? This is great, as most of anything you can buy with the card can be paid for with points when you use them for statement credit.

You can also use your points for cash back in the form of a deposit to a Bank of America® checking or savings account. You can redeem your points for credit to an eligible Merrill Edge® or Merrill Lynch® account, including 529 accounts. Or you can use points for gift cards.

2. Up to $ 200 in travel statement credits

Use your Bank of America® Premium Rewards® Credit Card to pay for seat upgrades on a flight and Bank of America® will automatically subtract up to $ 100 from the cost of your bill. Checked baggage fees, in-flight purchases, and even paid access to airport lounges work the same: Each year, Bank of America® will deduct up to $ 100 of these travel fees from your card bill. credit.

3. A welcome bonus worth $ 500

Receive 50,000 bonus points online – worth $ 500 – after making at least $ 3,000 in purchases within the first 90 days of opening the account. Plus, you’ll earn 2 points per dollar spent on meals and travel and 1.5 points per dollar on all other purchases.

4. No foreign transaction fees

Some cards charge up to 3% for transactions billed abroad. the Bank of America® Premium Rewards® Credit Card does not. For anyone who might be traveling outside of the United States, this is a valuable feature.

How to Maximize Your Rewards

You want a travel credit card that prioritizes what’s important to you. Here are our choices for the best travel credit cards of 2021, including those that are best suited:

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