Bank of America® Premium Rewards® Credit Card review
Want to know what makes the Bank of America® Premium Rewards® Credit Card so special? Check out our in-depth review and find out how you can get maximum rewards.
Premium Rewards® Credit Card: Ignite your rewards potential and earn faster!
Are you looking for a versatile credit card experience? The Bank of America® Premium Rewards® Credit Card may be the perfect choice for you!
With an array of innovative features, this credit card offers additional perks that make it stand out from all else.
- Credit Score: You need at least a good (690+) score to qualify.
- Annual Fee: There’s a $95 annual fee attached to the Premium Rewards®.
- Intro offer: After spending $3,000 within the first 90 days of membership, new cardholders will earn 50,000 bonus points – worth $500 in value.
- Rewards: BofA’s Premium Rewards® offers 2 points on dining and travel purchases, and 1.5 points on everything else.
- APRs: 19.74% to 26.74% variable on purchases and balance transfers, and 22.74% to 29.74% on cash advances.
- Other Fees: 3% on each balance transfer, up to 5% on cash advances, and up to $40 on late payments.
With this credit card, you can earn some serious points when making purchases and even get extra travel benefits to accommodate your jet setting lifestyle.
This comprehensive review will provide all the details you need to determine if the Bank of America® Premium Rewards® Credit Card is right for your individual needs.
So keep reading to see how it can work best for your own lifestyle!
BofA Premium Rewards® Credit Card: What can you expect?
The Bank of America® Premium Rewards® is a travel rewards card and offers one of the best cost effective deals currently in the market.
You can start off with the right foot with a welcome bonus worth $500 in value!
With this card, you can have an above average rate on dining and travel, and 1.5 points per dollar spent on all other card swipes.
Redemptions are flexible and you can choose from a variety of options that will work best for you.
You’ll also have access to a range of travel and purchase protections, including trip cancellation and interruption insurance, lost luggage reimbursement, and purchase security.
All of these Premium Rewards® Credit Card perks come with a $95 annual fee.
However, if you’re a Bank of America Preferred Rewards member, you may be eligible for additional rewards and benefits, which could offset this cost.
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Do the pros outweigh the cons?
Weighing both the pros and cons is an important step in making any financial decision.
With this credit card, there are a number of different rewards and perks that may make it appealing – but at what cost? See the advantages and potential drawbacks next.
- Spend $3,000 within the first 90 days and get 50,000 bonus points!
- Great and unlimited rewards rate – points don’t expire, and redemptions are flexible;
- The ability to earn even more rewards with a Preferred Rewards membership;
- Extensive premium perks such as travel, purchase and automotive protection;
- Enhanced security features to keep your money safe and your mind worry-free.
- You’ll have to pay a $95 annual fee for the Premium Rewards® Credit Card;
- The best rewards rates are limited to Preferred Rewards customers.
What are the eligibility requirements?
To qualify for the Premium Rewards® Credit Card, you need to be a Bank of America customer with a good to excellent score.
You also need a steady annual income, a Social Security Number and a US mailing address.
Learn how to request the BofA Premium Rewards® Credit Card
The Bank of America® Premium Rewards® Credit Card offers generous rewards and perks that can make it easier for you to reach your financial goals.
With this card, you’ll get points every time you use it – and with no annual fee, the savings add up quickly.
Plus, there are plenty of additional benefits to make sure that your money is working harder than ever before.
Whether you’re traveling abroad or shopping at home, these rewards will help make sure that each dollar earns its own reward in return. Check the link below to learn how to apply for this great card!
About the author / Aline Barbosa
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