Financial institution of America Premium Rewards Evaluate

Overview

In case you journey continuously and want to earn rewards on journey and eating out, Financial institution of America^® Premium Rewards^® bank card is among the finest bank cards for what you do. It affords limitless 2 factors for each $1 spent on journey and eating purchases. If you’re a Financial institution of America Most well-liked Rewards consumer, your rewards can go up by 75%, which suggests which you can earn as much as 3.5 factors for each $1 spent on journey and eating out. As well as, you possibly can earn 60,000 bonus factors after certified spending, which will be redeemed for $600. You may earn one other journey credit score of $200 to pay for airline incidental and airport expedited screening, corresponding to baggage charges, in-flight companies, International Entry, TSA PreCheck, and so forth.

Card Advantages

Signal-up Bonus

In case you spend not less than $4,000 in purchases inside your first 90 days of turning into a card member, you’ll obtain a bonus of 60,000 factors, which will be redeemed for money rewards of $600. It often takes about 8 to 12 weeks from qualifying for the 60,000 bonus factors to put up to your rewards stability. As well as, you possibly can stand up to $200 in journey credit score to pay for airline incidental and airport expedited screening assertion credit score.

Earn Rewards

You’ll earn limitless 2 factors for each greenback spent on journey and eating purchases. For all different purchases, you’ll earn limitless 1.5 factors per greenback. Factors will be redeemed in your on-line bank card account for money rewards, present playing cards, or journey. Every level redeemed is value $0.01 (For instance, 2,500 factors will be redeemed for $25 in money rewards or present playing cards). Due to this fact, your rewards is equal to 2% again for every greenback you spend on journey and eating purchases and 1.5% again on all different purchases.

If you’re a Financial institution of America Most well-liked Rewards buyer, you possibly can obtain as much as 75% further bonus in your base rewards, which might enhance your rewards to 3.5% for journey and eating, and 2.625% on all different purchases. Relying in your eligible tier of Most well-liked Rewards, you may get a 25%, 50% to 75% rewards bonus on the baseline rewards. There are 3 tiers within the Most well-liked Rewards program: Gold, Platinum and Platinum Honors. Your tier is predicated on the mixed balances of your qualifying Financial institution of America® banking and/or Merrill funding accounts. In case you have an IRA account or a mutual fund account, you possibly can merely select Merrill for these funding accounts to simply assist qualifying for the 75% bonus. The next chart exhibits the qualification requirement of account stability and rewards for Gold, Platinum, Platinum Honors tiers of Most well-liked Rewards.

Most well-liked Rewards Tier	Rewards Bonus	Rewards Factors for the Tier
Gold – $20,000 in mixed stability of qualifying accounts	25%	2.5 factors for each greenback spent on journey and eating purchases 1.25 factors per greenback spent on different purchases
Platinum – $50,000 in mixed stability of qualifying accounts	50%	3 factors for each greenback spent on journey and eating purchases 1.5 factors per greenback spent on different purchases
Platinum Honors – $100,000 in mixed stability of qualifying accounts	75%	3.5 factors for each greenback spent on journey and eating purchases 2.625 factors per greenback spent on different purchases

There isn’t a restrict to the factors you possibly can earn, and your factors don’t expire, which suggests you don’t have to fret about dropping rewards factors.

Further Journey Advantages

The Financial institution of America^® Premium Rewards^® bank card has no international transaction charges, which is a pleasant function for worldwide vacationers who could use the bank card overseas. It additionally affords as much as $200 in mixed airline incidental and airport expedited screening assertion credit, plus beneficial journey insurance coverage protections – you’ll stand up to a $100 Airline Incidental Assertion Credit score yearly for qualifying purchases corresponding to seat upgrades, baggage charges, in-flight companies, and airline lounge charges, and can stand up to $100 Airport Safety Assertion Credit score in the direction of TSA PreCheck or International Entry Software charge, each 4 years

The airline incidental credit score might help you pay for charges corresponding to checked baggage or in-flight refreshments. The airport expedited screening program, corresponding to TSA PreCheck and International Entry, can save vacationers 20 to half-hour in most airports. TSA PreCheck offers expedited safety screening advantages for flights departing from U.S. Airports. International Entry offers the TSA PreCheck profit plus expedited US customs screening for worldwide air vacationers when coming into the US. TSA PreCheck prices $85 and International Entry prices $100 for a 5 yr membership. The journey credit score might be robotically utilized to your card assertion.

The right way to Redeem Rewards

When your factors stability is 2,500 factors or extra, you possibly can redeem your factors for money rewards, together with an announcement credit score, an digital deposit right into a Financial institution of America® checking or financial savings account, or for credit score to an eligible Money Administration Account® with Merrill Wealth Administration® together with 529 accounts. Factors may additionally be redeemed for journey on the Journey Heart, or present playing cards. Money rewards shall be issued for a U.S. greenback sum and could also be requested on demand. Every level redeemed is value $0.01 (2,500 factors = $25).

To redeem factors, you simply must check in to your on-line account of Financial institution of America^® Premium Rewards^® bank card and click on on the “Rewards” tab, which is able to present the purpose stability of your account, together with an choice to redeem the factors for money rewards, journey, or present playing cards.

Free Museum Admission

As a Financial institution of America bank card member, you’ll have a singular perk of free admission to over 200 museums on the primary full weekend of each month. Financial institution of America has been operating a program of Museums on Us for over 20 years, which affords its prospects free admission to greater than 200 museums on the primary weekend every month. You may current your Financial institution of America Premium Rewards Credit score Card and a photograph ID to achieve one free basic admission to any of 200+ museum members of the particular Museums on Us program.

Further Data

Charges

There’s an annual charge of $95. With all of the journey advantages and a beneficiant bonus valued at $600, frequent vacationers can simply earn sufficient rewards to offset the price of the annual charge. It has has no international transaction charges, which is a pleasant function for worldwide vacationers who could use the bank card overseas. Most bank cards sometimes cost a transaction charge 3% in your purchases in international international locations. In case you could journey overseas, it’s all the time a good suggestion to hold a bank card corresponding to Financial institution of America^® Premium Rewards^® bank card as a way to keep away from the three% surcharge in your purchases.

Required Credit score Score

The Financial institution of America^® Premium Rewards^® bank card is for folks with good or glorious credit standing. In case you have a credit score rating of 700 or extra, you might be certified for the bank card.

Is that this the fitting card for you?

In case you worth rewards and like journey advantages corresponding to expedited safety screening or airline incidental credit score, the Financial institution of America^® Premium Rewards^® bank card is the fitting card for you. It’s the most effective journey bank cards with no international transaction charges. It affords a strong 2% rewards on journey and eating purchases. Moreover, in case you are a buyer of Financial institution of America or plan to take action sooner or later, you possibly can reap the benefits of the additional rewards bonus for Most well-liked Rewards members, which is able to enhance your journey and eating rewards to as a lot as 3.5% again. 

This bank card has a low annual charge of $95, but it surely affords 60,000 bonus factors for brand spanking new card members, which might offset greater than 5 years of annual charge. As well as, its beneficiant rewards and beneficial journey perks make it a helpful bank card for vacationers.

Comparable Credit score Playing cards

If you’re within the Financial institution of America^® Premium Rewards^® bank card, you might also take into account a number of different journey bank cards with comparable advantages.

Credit score Card		Bonus and Rewards	Annual Price
	Wells Fargo Autograph℠ Card	20,000 bonus factors if you spend $1,000 in purchases within the first 3 months – that is a $200 money redemption worth Limitless 3X factors on the issues that actually add up – like eating places, journey, gasoline stations, transit, widespread streaming companies, and telephone plans. Plus, earn 1X factors on different purchases	$0 charges & charges
	Citi Customized Money® Card	$200 money again after you spend $1,500 on purchases within the first 6 months of account opening. This bonus supply might be fulfilled as 20,000 ThankYou® Factors, which will be redeemed for $200 money again. No rotating bonus classes to join – as your spending modifications every billing cycle, your earn adjusts robotically if you spend in any of the eligible classes. 5% money again on purchases in your high eligible spend class every billing cycle, as much as the primary $500 spent, 1% money again thereafter. Additionally, earn limitless 1% money again on all different purchases.	$0
	Financial institution of America® Journey Rewards bank card	25,000 on-line bonus factors after you make not less than $1,000 in purchases within the first 90 days of account opening – that may be a $250 assertion credit score towards journey purchases. Limitless 1.5 factors per $1 spent on all purchases, with no annual charge and no international transaction charges and your factors do not expire. In case you’re a Most well-liked Rewards member, you possibly can earn 25%-75% extra factors on each buy. Which means as an alternative of incomes an infinite 1.5 factors for each $1, you possibly can earn 1.87-2.62 factors for each $1 you spend on purchases.	$0
	Wells Fargo Lively Money® Card	$200 money rewards bonus after spending $500 in purchases within the first 3 months Limitless 2% money rewards on purchases	$0 charges & charges
	Citi® Double Money Card – 18 month BT supply	2% on each buy with limitless 1% money again if you purchase, plus a further 1% as you pay for these purchases.	$0
	Financial institution of America® Personalized Money Rewards bank card	$200 on-line money rewards bonus after you make not less than $1,000 in purchases within the first 90 days of account opening. 3% money again within the class of your selection – now with expanded classes, computerized 2% at grocery shops and wholesale golf equipment (as much as $2,500 in mixed selection class/grocery retailer/wholesale membership quarterly purchases) and limitless 1% on all different purchases. Newly expanded classes based mostly on Financial institution of America buyer suggestions! 3% money again on Gasoline (to now embody Electrical Car Charging (EVC) Stations) and On-line Purchasing (to now embody Cable, Streaming, Web and Telephone Companies). In case you’re a Most well-liked Rewards member, you possibly can earn 25%-75% extra cash again on each buy. Which means you possibly can earn 3.75%-5.25% money again on purchases in your selection class.	$0
	Financial institution of America® Limitless Money Rewards bank card	$200 on-line money rewards bonus after you make not less than $1,000 in purchases within the first 90 days of account opening. Limitless 1.5% money again on all purchases. In case you’re a Most well-liked Rewards member, you possibly can earn 25%-75% extra cash again on each buy. Which means you possibly can earn 1.87%-2.62% money again on each buy with Most well-liked Rewards.	$0
	Citi Rewards+® Card	20,000 bonus factors after you spend $1,500 in purchases along with your card inside 3 months of account opening; redeemable for $200 in present playing cards at thankyou.com 2X ThankYou® Factors at Supermarkets and Gasoline Stations for the primary $6,000 per yr after which 1X Factors thereafter. Plus, earn 1X ThankYou® Factors on All Different Purchases.	$0
	Capital One Enterprise Rewards Credit score Card	Take pleasure in a one-time bonus of 75,000 miles when you spend $4,000 on purchases inside 3 months from account opening, equal to $750 in journey Limitless 2X miles on each buy, every single day	$95
	Ink Enterprise Money® Credit score Card	$900 bonus money again after you spend $6,000 on purchases within the first 3 months from account opening 5% money again on the primary $25,000 spent in mixed purchases at workplace provide shops and on web, cable and telephone companies every account anniversary yr 2% money again on the primary $25,000 spent in mixed purchases at gasoline stations and eating places every account anniversary yr. Earn 1% money again on all different purchases	$0
	Chase Sapphire Most well-liked® Card	60,000 bonus factors after you spend $4,000 on purchases within the first 3 months from account opening. That is $750 if you redeem by way of Chase Final Rewards®. Get 25% extra worth if you redeem for airfare, resorts, automobile leases and cruises by way of Chase Final Rewards®. For instance, 60,000 factors are value $750 towards journey. Take pleasure in advantages corresponding to 5x on journey bought by way of Chase Final Rewards®, 3x on eating, and 2x on all different journey purchases, and $50 annual Final Rewards Resort Credit score, plus extra.	$95
	The American Specific Blue Enterprise Money™ Card	2% money again on all eligible purchases on as much as $50,000 per calendar yr, then 1%. Money again earned is robotically credited to your assertion.	$0 (charges)
	Capital One SavorOne Money Rewards Credit score Card	A one-time $200 money bonus after you spend $500 on purchases throughout the first 3 months from account opening Limitless 3% money again on eating, leisure, widespread streaming companies and at grocery shops (excluding superstores like Walmart® and Goal®), plus 1% on all different purchases 10% money again on purchases made by way of Uber & Uber Eats, plus complimentary Uber One membership assertion credit by way of 11/14/2024 8% money again on Capital One Leisure purchases Limitless 5% money again on resorts and rental vehicles booked by way of Capital One Journey, the place you may get Capital One’s finest costs on 1000’s of journey choices. Phrases apply	$0
	Capital One Quicksilver Money Rewards Credit score Card	A one-time $200 money bonus after you spend $500 on purchases inside 3 months from account opening Limitless 1.5% money again on each buy, every single day Limitless 5% money again on resorts and rental vehicles booked by way of Capital One Journey, the place you may get Capital One’s finest costs on 1000’s of journey choices. Phrases apply	$0