Update: New Premium Travel Rewards Card From Bank of America Arriving This Fall!
Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full advertising policy: How we make money.
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® Visa® credit 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 $550 and $495 respectively 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!
Chase Sapphire Preferred® CardAPPLY NOW
Chase Sapphire Preferred® Card
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®.
Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
20.24% – 27.24% Variable
Either $5 or 5% of the amount of each transfer, whichever is greater.
Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)