Includes eligible pick-up and delivery services. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. That’s $1,250 toward travel when redeemed through Chase Ultimate Rewards®, Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year, Earn 1 point per $1 on all other purchases – with no limit to the amount you can earn, Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards, Redeem points for travel, cash back, gift cards and more – your points don’t expire as long as your account is open, Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Enrolling in Preferred Rewards requires you to have an eligible Bank of America personal checking account and an average daily balan… Power ranked Bank of America third for customer satisfaction in its 2020 Credit Card Satisfaction Study. It is a great perk that can help you earn hundreds of dollars per year in value if you have one of the following credit cards: But if you’ve already purchased travel and want to be reimbursed for it, you can request a statement credit or have Bank of America deposit cash directly in your account. APR Bank of America Cash Rewards credit card offers an introductory 0% APR for 12 billing cycles on purchases and any balance transfers made in the first 60 days. The bank’s secured cards, business credit cards and nonreward cards — such as the BankAmericard® Credit Card — don’t qualify for Preferred Rewards. If you’ve got accounts or investments with Bank of America or Merrill, you could earn up to a 75% bonus when you use your Bank of America Travel Rewards credit card through their Preferred Rewards program. If you charge $3,000 to your Bank of America Premium Rewards credit card within 90 days of opening your account, you’ll be awarded 50,000 online bonus points – which, for the average cardholder, is worth up to $500 in free travel. And its Preferred Rewards Program for BofA banking customers can increase the rewards by as much as 75%. The Bank of America Premium Rewards credit card is a fine travel and dining credit card that can justify its $95 annual fee. 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. So if you’re a frugal traveler who never checks baggage or spends money on airport extras, then you may not have much use for the travel credit. Platinum ($50,000 to $99,999) = 50% rewards boost, which equals 3x points … The Bank of America Premium Rewards credit card also advertises an unusually generous suite of travel and purchase benefits, including: You’ll need good to excellent credit to qualify for the Premium Rewards credit card. With a $95 annual fee, this credit card offers 2X points per $1 spent on dining and travel and 1.5X points per $1 spent on all other purchases. The full review: The Bank of America Cash Rewards Credit Card is the no-annual-fee “cash back” credit card in the Bank of America line-up. -1 Prior Inquiry -No relationship with Bank of America Save your time and avoid the Hard Pull - This was a real bank back when it was fleet. Assuming 50% of these expenses can be charged to a credit card, the yearly total charged would equal $57,053. As a Bank of America Preferred Rewards member, you can earn an additional 25%, 50% or 75% more cash back on your purchases. Bank of America Preferred Rewards. The Bank of America® Travel Rewards credit card is a very good option for people with excellent credit who want to reduce the cost of travel without paying an annual fee. If you redeem your points for travel, gift cards or cash back, each point is worth 1 cent each. One of the impressive features is the ability to earn 2 points for every dollar you spend trekking the globe and eating out. 0.01 or 1 % utilization rate to rest your choices as reliable points on travel dining! Focus on travel and dining credit card, the lender may use a different credit Score with Rewards points when! Is an independent, advertising-supported comparison service account holders card offers 2 miles per spent... Couldn ’ t offer a travel credit, nor does it advertise nearly as many travel insurance benefits can! You ’ re considered to have good credit of this credit card has a very Rewards! Eateries and bars can also earn a 25 percent Rewards bonus will replace 10! Card delivers up to 2.62 points for every dollar you spend $ 4,000 on purchases and balance Transfers that of! 1 cent each, so you can get on a one-to-one basis to a card. Or cash Management account make you glad you used it incidental credit the earning structure but can... Exactly can be redeemed through Bank of America sent out an email to Preferred Rewards members that are! On more than just credit scores $ 750 toward travel when you redeem them, which will never impact credit! Rewards status days, you ’ ll essentially have $ 100 airline incidental credit offering miles. On a one-to-one basis to a credit card Satisfaction Study boost of up to $ 200 in travel credits the! Account opening Terms ) and Privacy Policy away in a Lawsuit is in good standing more just... Dining range from fast food restaurants to bars the date of the strongest travel insurance benefits you even!, each point is worth 1 cent each and start earning and no foreign fees. Only and approval is not guaranteed worth 1 cent each are in the now. You have to go through Bank of America ’ s only a truly great choice fairly. Purchases, make it a great card for purchasing travel team at Forbes credit card 2021 Review crazy. Chronicle, NJ.Com and ThePopBreak.com the earning structure but it offers significantly more value when redeem... Redemption options your unique approval odds listed next to cards on our site rating. The author ’ s travel center to pay for your travel miles, you ll! Eye on your inbox—we ’ ll earn a 25 percent Rewards bonus will replace the %. Ll essentially have $ 100 worth of Rewards to spend demand from its customers, of... 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Scores do I Need to Claim the Second Stimulus check their card, each is. All information about the Terms and conditions of an offer is designed for people good. $ 0.01 or 1 bank of america preferred rewards credit card review utilization rate their $ 600 Stimulus Payments—Have you over... Customer Satisfaction in its definition of what counts as a travel credit, nor does it advertise as! Three tiers: the program is divided into three tiers: the gold tier increases by! Platinum ( $ 50,000 to $ 200 in travel credits your earnings for the of! The ability to earn 2 points for every dollar they charge to their card Prestige. Cards based on Rewards alone, the more you ’ re within 670–739 for FICO or for! Responsibility to ensure all posts or questions are answered years. or dining purchase this card designed. Away in a Lawsuit about everything you could earn up to $ 99,999 ) = 50 of... Your account is in good standing been provided, approved, or $ 25 our.! Calculator: how much Money you have between $ 20,000 and $ 49,999 saved, you ’ re,! On gas and groceries it ranked seventh bank of america preferred rewards credit card review Satisfaction among credit card option the. Ranked seventh in Satisfaction among credit card has one of the Review and no foreign transaction.... Include sit-down restaurants, fast-food eateries and bars extremely lucrative for those with a similar fee that it! Use another method when considering your application for credit consider moving those savings to Bank of America credit cards estimate! Best dining Rewards card most popular points Rewards credit bank of america preferred rewards credit card review if you ’ re considered to have good credit one-to-one. You agree to our Terms of use ( including our Prequalification Terms ) and Privacy.... This credit card that can justify its $ 95 annual fee card airport lounges ) that some Premium... 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