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Bank of America® Premium Rewards® Visa® credit card: 50K bonus points w/ $3K in eligible purchases

+18 Deal Score
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Bank of America is offering 50,000 bonus points after you make at least $3,000 in purchases in the first 90 days of account opening with the Bank of America® Premium Rewards® Visa® credit card. The annual fee is $95.
  • Receive 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases
  • If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
  • No limit to the points you can earn and your points don't expire
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill Edge® and Merrill Lynch® accounts, or gift cards or purchases at the Bank of America Travel Center
  • Get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections
  • No Foreign Transaction Fees
  • Low $95 annual fee
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These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. 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.

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HIDDEN
05-17-2019 at 08:47 AM
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Joined Jan 2009
BRRR...BRRRR....
2,246 Posts
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#17
Quote from Mirage241
:
Yes. It goes to your account. The airline incidental credit itself pays for the annual fee. With the platinum honors this earns a good amount for everyday spend. At the 75 bonus for Platinum Honors it is 2.625 back. Not too shabby for everyday spend but that is assuming you qualify for the Platinum Honors tier.
Thanks for the info!

Quote from eversavage
:
Wonder if you really get 500 bucks
Quote from befriendly
:
I got this card recently. As I qualify for premier platinum status with BOA, I see multiple benefits.

Love the bonus that gets added on daily purchases
Love the extra travel rewards and perks stated in previous comments
I would not use this when I have 5% promotion categories from Discover
$95 Annual fee is certainly worth if you make couple of travel
You can reimbursed for TSA pre


Negatives
I would not buy for $0 Foreign Transaction fee. I tested it with a $50 Foreign transaction. They took more than 10% in conversion rate which is a rip off. $0 transaction fee saves a bit. Depending on transaction you may be better off not using this card for Foreign transactions
Cool, thx for the review!
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Joined Nov 2011
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#18
Quote from befriendly
:
I got this card recently. As I qualify for premier platinum status with BOA, I see multiple benefits.

Love the bonus that gets added on daily purchases
Love the extra travel rewards and perks stated in previous comments
I would not use this when I have 5% promotion categories from Discover
$95 Annual fee is certainly worth if you make couple of travel
You can reimbursed for TSA pre


Negatives
I would not buy for $0 Foreign Transaction fee. I tested it with a $50 Foreign transaction. They took more than 10% in conversion rate which is a rip off. $0 transaction fee saves a bit. Depending on transaction you may be better off not using this card for Foreign transactions
offers 0% foreign transaction fees
but rips you off in conversion rates
ha
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Joined Sep 2009
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#19
Quote from cgigate
:
Annual fees' card is simply junk

Yeah only an idiot would pay $95 to get $500 cash back plus $100 in airline fees reimbursed, plus $100 GE fee reimbursed, right?


Meanwhile back in reality- AF cards are routinely the most profitable signup offers out there, usually by a wide, and very profitable, margin.

Most aren't worth keeping beyond year one of course- but a very few still can be depending on your personal situation (for example CPs 4th night free has saved us considerably more than its net annual fee every year we've had it- but if you rarely stay that long in a hotel it's probably not worth keeping)
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Joined Apr 2008
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#20
Quote from Knightshade
:
Yeah only an idiot would pay $95 to get $500 cash back plus $100 in airline fees reimbursed, plus $100 GE fee reimbursed, right?


Meanwhile back in reality- AF cards are routinely the most profitable signup offers out there, usually by a wide, and very profitable, margin.

Most aren't worth keeping beyond year one of course- but a very few still can be depending on your personal situation (for example CPs 4th night free has saved us considerably more than its net annual fee every year we've had it- but if you rarely stay that long in a hotel it's probably not worth keeping)
What's CP stands for? Citi premier?
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Joined Aug 2010
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#21
Quote from befriendly
:
I got this card recently. As I qualify for premier platinum status with BOA, I see multiple benefits.

Love the bonus that gets added on daily purchases
Love the extra travel rewards and perks stated in previous comments
I would not use this when I have 5% promotion categories from Discover
$95 Annual fee is certainly worth if you make couple of travel
You can reimbursed for TSA pre


Negatives
I would not buy for $0 Foreign Transaction fee. I tested it with a $50 Foreign transaction. They took more than 10% in conversion rate which is a rip off. $0 transaction fee saves a bit. Depending on transaction you may be better off not using this card for Foreign transactions
What are you talking about on the conversion rate? They don't charge any foreign transaction fees. I've used this card in Canada and Europe. I'm always charged the current exchange rate posted by the WSJ.
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Joined Sep 2009
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#22
Quote from yschin
:
What's CP stands for? Citi premier?

Citi Prestige... if you book 4 nights either cash or points they refund the cost of the 4th night.

Up until now it was unlimited times, and since the "net" annual fee (above the annual travel credit) was only $200, it was pretty trivial to save more than $200 with just 1 or 2 uses of this benefit per year...

Now, going into next year they are limiting it to 2 uses per year- and also bumping the annual fee so the "net" cost over the travel credit is $245. 4th night free still makes the card profitable as long as you stay 4 nights someplace the hotel is at least $250/nt (or the points equivalent), or as long as you stay 4 nights someplace twice and the hotel is at least $125... but it's not quite as much the slam dunk it used to be.

You also get 5x points on restaurants, 3x on hotels, and priority pass and a GE/Precheck credit, but honestly if not for the 4th night thing there'd be no reason to keep it past year 1 rather than the CSR.
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Joined May 2016
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#23
Quote from eversavage
:
Thinking about it but it takes 3 months to get the platinum honors status...
Apply for this credit card...
Transfer 100k and wait 3 months for the status to kick in..
It is 3-month average balance, not necessarily need to take 3 months. You can transfer 300K to your account for just one month.
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#24
Quote from liaozhongchao
:
It is 3-month average balance, not necessarily need to take 3 months. You can transfer 300K to your account for just one month.
Not really... I transfer external money to cover the "platinum " status into boa within a week of opening the account but the CSR said I have to wait for the 3 months to get the perk bc it's a "3 months average"
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#25
Quote from eversavage
:
Not really... I transfer external money to cover the "platinum " status into boa within a week of opening the account but the CSR said I have to wait for the 3 months to get the perk bc it's a "3 months average"
I don't think that's true. They divide it by 3 at a certain time of the month. If you have enough in there to reach the level when divided by 3 you should get it. You can qualify for a level before the three months is up. Unless hey changed something recently.
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#26
Quote from RPdeals26
:
I don't think that's true. They divide it by 3 at a certain time of the month. If you have enough in there to reach the level when divided by 3 you should get it. You can qualify for a level before the three months is up. Unless hey changed something recently.
🤷 ♂️, I'll keep checking.. it's been only 3 weeks and still no perks or status change ...
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#27
Quote from eversavage
:
🤷 ♂️, I'll keep checking.. it's been only 3 weeks and still no perks or status change ...
I think they check the balance on the 4th or the 5th of the month. So maybe early next month you'll get something.
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#28
Would $100 airline fee credit count towards Airline gift card purchase...as some other cards have qualified in the past?
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Joined Sep 2005
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#29
Quote from DealGuy
:
Would $100 airline fee credit count towards Airline gift card purchase...as some other cards have qualified in the past?
Yes, you can roll 2x $100 giftcard with one annual fee.

https://www.doctorofcredit.com/tr...el-credit/

This card is basically $600 benefit for one year kinda of deal. Not counting global entry since basically every $100+ card has that.

$500 reward - $95 fee + $200 airline giftcard = $605 benefit for singup for one year.

Not worth keeping unless you keep $100k in your Bank of America brokerage account. If you do have your investment with BoA, it is worth keeping for the effective 2.625% back on anything unlimited which I believe cannot be beaten using only a single card.
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Joined Dec 2012
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#30
can you use this to pay monthly mortgage? or are there any credit card you can use to pay monthly mortgage to rack up points?
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