I recently shared a rumor about a new premium card from Bank of America. And now we have more details about the card, which some of y’all might really like!
Via Doctor of Credit, the card will come with a 50,000 point sign-up bonus (worth $500) after meeting minimum spending requirements. And possibly a $100 yearly travel credit and a Global Entry or TSA PreCheck fee credit.
With a big sign-up bonus, a rumored $95 annual fee, and a $100 yearly travel credit, this card could be a no-brainer for some! Especially if you’re over Chase’s 5/24 rule. 😉
Here’s more about the rumored Premium Rewards card from Bank of America!
Bank of America Premium Rewards Card
A Doctor of Credit reader shared a screenshot with a few details about Bank of America’s new Premium Rewards card.
So far, we know the card will come with:
- 50,000 point sign-up bonus (minimum spending requirement unknown)
- 2 points per $1 spent on travel and dining purchases
- 1.5 points per $1 spent on all other purchases
The screenshot says 50,000 points are worth $500 in rewards. That’s different from the previous rumor of points being worth 1.5 cents each towards travel purchases.
Doctor of Credit also suggests the card will come with perks like:
- $100 yearly travel credit
- $100 Global Entry / TSA PreCheck credit
- $95 annual fee
This card is meant to compete with other top travel rewards cards, like Chase Sapphire Reserve and Citi Prestige, but the rumored $95 annual fee is much less than the annual fees on those premium cards, which cost $450 per year.
That’s great news if it’s true, because the card’s perks would more than make up for the annual fee!
Plus, if you’re a part of the Bank of America Preferred Rewards Program, you may be able to earn even more with your card. Based on the amount of money you have in your Bank of America account, or have invested with Bank of America or Merrill Lynch, you can earn between 25% and 75% more rewards with certain Bank of America credit cards.
We don’t know if this will apply to Bank of America’s Premium Rewards card. But if it does, that makes this card even better. That said, Bank of America points do NOT transfer to any travel partners.
The card is expected to launch later this year. Just remember, these details still have NOT been confirmed by Bank of America.
But I’ll be sure to share the details when we know more!
With Bank of America’s new Premium Rewards card, you’ll earn 50,000 Bank of America points (worth $500) after completing minimum spending requirements.
These benefits more than outweigh the rumored $95 annual fee. So this could be a great card for folks who are over Chase’s 5/24 rule, or who are looking for a card with good benefits and points that are straightforward to redeem!
The card is expected to launch later this year. Do you plan on applying? Let me know in the comments!