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The Financial institution of America® Premium Rewards® bank card is greatest recognized for the perks it gives to Financial institution of America® Most popular Rewards members — i.e. prospects who hold three-month common mixed balances of at the very least $20,000 or extra of their Financial institution of America® or Merrill Lynch funding accounts.
These prospects not solely get advantages like discounted auto mortgage charges and better rates of interest on their financial savings, in addition they earn 25% to 75% extra factors with the Financial institution of America® Premium Rewards® bank card. The rewards increase will depend on the cardholder’s Most popular Rewards program tier:
Gold stage Most popular Rewards members get a 25% increase on the Financial institution of America Rewards® factors they earn by utilizing the cardboard.
Platinum members get a 50% increase on the variety of factors they earn.
Platinum Honors Most popular Rewards members get a 75% increase.
» Be taught extra: Financial institution of America® Premium Rewards assessment: Large bonuses for B of A’s greatest prospects
These are eye-catching advantages for purchasers who have already got tens of hundreds of dollars sitting in Financial institution of America® or Merrill Lynch accounts. However people who don’t would possibly marvel if this card is for them.
The Financial institution of America® Premium Rewards® bank card has advantages which may nonetheless be enticing to individuals who hold most of their cash in 401(okay)s and even couch cushions. Although the cardboard carries a $95 annual price, it could nonetheless be price having. Listed below are a number of of the the explanation why you may want a Financial institution of America® Premium Rewards® bank card.
1. Versatile redemptions
Should you don’t wish to decide to utilizing your rewards for journey, the Financial institution of America® Premium Rewards® bank card provides you flexibility. If you wish to use your factors to buy journey by means of the Financial institution of America® Journey Middle, you may. Don’t really feel like touring? That’s positive as a result of most something you might buy with the cardboard could be paid for with factors while you use them for an announcement credit score.
You can too use your factors for money again within the type of a deposit to a Financial institution of America® checking or financial savings account. You possibly can redeem factors for a credit score to an eligible Merrill Edge® or Merrill Lynch® account, together with 529 accounts. Or you should utilize factors for reward playing cards.
2. As much as $200 in journey assertion credit
Use your Financial institution of America® Premium Rewards® bank card to pay for seat upgrades on a flight and Financial institution of America® will robotically subtract as much as $100 of the associated fee out of your invoice. Checked bag charges, in-flight purchases and even paid entry to airport lounges work the identical means: Yearly, Financial institution of America® will take as much as $100 of these journey fees off your bank card invoice.
The cardboard additionally gives a $100 TSA Precheck or International Entry price credit score each 4 years.
three. A welcome bonus price $500
Obtain 50,000 bonus factors – a $500 worth – after you make at the very least $three,000 in purchases within the first 90 days of account opening. Plus, you’ll earn 2 factors per $1 spent on eating and journey and 1.5 factors per $1 on all different purchases.
four. No overseas transaction charges
Some playing cards cost as much as three% for transaction charged overseas. The Financial institution of America® Premium Rewards® bank card doesn’t. For anybody who would possibly journey outdoors of the U.S., this can be a priceless function.
Tips on how to maximize your rewards
You need a journey bank card that prioritizes what’s essential to you. Listed below are our picks for the perfect journey bank cards of 2019, together with these greatest for:
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