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What triggers the Bank of America Premium Rewards Credit Card travel credit

After this period your APR will jump up to 19.74% to 29.74% variable. By clicking “See my odds” you agree to our Terms of Use (including our Prequalification Terms) and Privacy Policy. These terms allow to use your consumer report information, including credit score, for internal business purposes, such as improving the website experience and to market other products and services to you. I understand that this is not an application for credit and that, if I wish to apply for a credit card with any participating credit card issuer, I will need to click through to complete and submit an application directly with that issuer. EDITORIAL DISCLOSURE All reviews are prepared by staff.

  • For example, the Citi Premier® Card has a $95 annual fee card and a more lucrative welcome bonus.
  • Bank of America will automatically credit you up to $100 annually for incidental airline fees that you charge to your card.
  • For example, the Citi® Double Cash Credit Card has no annual fee and gives 2% cash-back rewards on all purchases.
  • While the fact that you can redeem for in a variety of categories without sacrificing point value is a big plus, the flexibility stops there.
  • You must use your Bank of America® Premium Rewards® credit card to pay for the application fees to receive the credit.

Depending on how much money you have saved with Bank of America, you could earn a substantial bonus on all your earnings. For those who want a premium travel rewards card with luxury perks such as airport lounge access, but prefer a rewards program with easy redemption options, then the Bank of America Premium Rewards Elite card is an excellent option. Further, the card makes tons of sense for those that have status in the Bank of America Preferred Rewards program thanks to the credit card rewards boost you receive.

If you are a member or customer of one of the following organizations, you may qualify to have some or the entire TSA PreCheck® application fee covered or be able to pay with frequent flyer miles/points. I believe most airline gift card purchases are no longer working to trigger the credit, besides Southwest. But if you’re buying gift cards or using the credit for other expenses that are not exactly covered, do not use all the $300 at once. Since you have to call in to get your credit, customer service reps will question you why incidental charges are so high. The American Express Gold Card offers travel and dining rewards but has a relatively high $250 annual fee. Here is a closer look at how the Bank of America Premium Rewards Credit Card matches up to other consumer travel credit cards.

Other Cards To Consider

Instead of having tiered rewards categories, you earn 1.5x points on every purchase. Your redemption options are similar for travel, cash, and gift cards at 1 cent each. However, you must be comfortable with the high minimum redemption of $25 and not earning purchase rewards on these purchases. Do you have Bank of America deposit accounts or Merrill investment accounts? If so, you may want to strongly consider opening a Bank of America® Premium Rewards® credit card.

There are no reward caps and no reward expirations unless the cardholder closes the account. Bank of America automatically reimburses up to $100 of airline incidental purchases each calendar year.

However, the purchases must be for domestic flights with a United States-based carrier like American, Delta, United, or Southwest. The card also offers 2 points per dollar on travel and dining, and 1.5 points per dollar on everything else.

Up To $100 In Statement Credits For Global Entry Or Tsa Precheck

However, you can also transfer your miles to 17 different travel partners, allowing you to pick and choose between fixed value redemptions and transferable points all in a single card. Travelers can easily take advantage of some key perks that more than make up for the cost. The $100 annual airline incidental statement alone offsets the annual fee, and additional perks like the TSA PreCheck® and Global Entry credit sweeten the offer. You’ll also need a minimum of 2,500 points (equivalent to $25) to redeem statement credits. When compared to other credit card reward programs, these redemption restrictions make this card relatively inflexible. Indeed, if you’re a Bank of America Preferred Rewards member at the Platinum level or higher, this could easily be the most rewarding travel card out there.

  • Yet you might pay more than five times the annual fee to tap into some of those more luxurious benefits.
  • The Bank of America Travel Rewards credit card offers a top welcome bonus among competitors with no annual fee.
  • However, the credit card information that we publish has been written by experts who know these products inside out, and what we recommend is what we would (or already) use ourselves.
  • The Bank of America® Premium Rewards® credit card offers excellent opportunities to earn valuable rewards on everyday spending.

List what you purchased, what airline it was for and how much the charge was as well. Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Applying for and maintaining consumer credit accounts is an important financial decision, with lasting consequences, and requires thought, planning and comparison shopping for the offer that best suits your personal situation. That’s why we offer useful tools to evaluate these offers to meet your personal objectives. Be sure to verify all terms and conditions of any credit card before applying. This card offers an introductory APR you can use to help finance a trip or other large purchase, or to transfer a balance to pay down debt more easily. The card also highly rewards customer loyalty by offering 25% extra point value if you book airfare, hotels, car rentals and cruises through the Chase Ultimate Rewards portal. The Bank of America rewards program is a fixed rewards program, allowing you to redeem all of your points through its own travel portal at a set rate of 1 cent per point. While there isn’t an opportunity to get outsized value here, the good news is that you can redeem points towards any travel purchase, including flights, hotels, rental cars, and more.

To keep things realistic, consider whether BofA will like these antics. They used to be rather “churn friendly” allowing customers to repeatedly get signup bonuses for the same card, but like other banks they’ve tightened their policies. Eligible items that come with a manufacturer’s warranty can receive extended warranty protection through this benefit. This coverage doubles the existing manufacturer’s warranty; Bank of America adds up to 12 extra months when doubling a warranty.