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60,000 point/$600 sign up bonus for BofA Premium Rewards Visa. $95 annual fee. $4000 spend required in 90 days.
$505.00
This is for the "Premium Rewards" Visa, a credit card. There is also "Preferred Rewards", which is BofAs good customer membership program. This can be confusing.
Sign up bonus has been 50k points, and is now 60k. Points are redeemable for one cent each as either a statement credit or deposit to your BofA banking account, so that's a $600 bonus if you don't spend the points another way.
Major points:
https://www.bankofameri
Sign up bonus has been 50k points, and is now 60k. Points are redeemable for one cent each as either a statement credit or deposit to your BofA banking account, so that's a $600 bonus if you don't spend the points another way.
Major points:
- $95 annual fee, not waived for the first year.
- Requires $4000 in spend on the card within 90 days of activation to earn the bonus.
- Bonus is not taxable (unlike banking/brokerage bonuses).
- Eligible for BofA preferred rewards bonus on purchases, but not on the bonus. You only get 60k points regardless of your membership rewards levels.
- Preferred rewards program details: https://promotions.bank
ofamerica....re wards/en
- Preferred rewards program details: https://promotions.bank
- 1.5-2.625 points/cents per dollar of spend on all purchases with no limit, depending on your preferred rewards tier. It's 1.5 with no rewards, and 2.625 with platinum honors. It is very similar to the BofA unlimited cash card in that manner.
- 2-3.5 points per dollar on travel and dining depending on rewards tier.
- $100 per calendar year toward incidental airline purchases like bag fees, seat upgrades, and lounge fees. Since it's calendar year, you can get this twice with one annual fee before you cancel (one in 2025 and one in 2026).
https://www.bankofameri
Created 04-27-2025
at 01:36 PM
by WolfTheCat
in
Credit Cards
(7)
Bank of America - Bank Advertiser
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28 Comments
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To be clear
- I do not work for BofA or SlickDeals
- Nobody is paying me for this post
Of course, BofA pays me for normal banking stuff like interest, credit card cash back, and sign up bonuses.
Lastly, if BofA reads this and decides to pay me for the post, I won't object. They know my checking account number. I like money.
"Yeah, I think everyone does Frito."
Also, is this true 1 point = 1 penny?
It is cash positive to tax payment if you have status.
2.625 cents per dollar cash back - 1.75% fee from pay1040.com is a small advantage.
Also useful if you are looking for a way to hit the $4k spend for the bonus. Tax payments count.
yes, $505 net profit.
If you are looking for $95 AF credit card, look at CSP and Capital 1 Venture 1st.
CSP > Venture > Premium Rewards BoFA
- 1.5-2.625 points/cents per dollar of spend on all purchases with no limit, depending on your preferred rewards tier. It's 1.5 with no rewards, and 2.625 with platinum honors. It is very similar to the BofA unlimited cash card in that manner.
- 2-3.5 points per dollar on travel and dining depending on rewards tier.
- $100 per calendar year toward incidental airline purchases like bag fees, seat upgrades, and lounge fees. Since it's calendar year, you can get this twice with one annual fee before you cancel (one in 2025 and one in 2026).
Like most cards, it also has a bunch of minor benefits.https://www.bankofameri
Global Entry used to cost $100 itself (for 5 years), but the CBP has recently increased that rate to $120. TSA PreCheck used to be $80 I believe (for 5 years), now lowered to $76.75. Global Entry (despite the increase) is still worth it over TSA PreCheck, and to make full use of this $100 credit. The extra $20 you have to pay out-of-pocket for Global Entry vs. TSA PreCheck is worth it over 5 years (i.e. just $4 extra per year). Very helpful for international travel and return to USA.
There are some other premium credit cards out there that have been updated to pay the new entire $120 cost for Global Entry. Unfortunately, BoA has said this Premium card will not be updated to cover the full $120, just $100 off.
yes, $505 net profit.
If you are looking for $95 AF credit card, look at CSP and Capital 1 Venture 1st.
CSP > Venture > Premium Rewards BoFA
Chase Sapphire Preferred is a fantastic SUB right now as well. Unfortunately, I have hit Chase 5/24.
But, the venture card bites if you want cash and don't travel. It takes two points to get a penny of cash, instead of 1 point per penny.
This card is a better overall cash back card than either of those, even without preferred rewards. CSP and venture only offer 1 cent per dollar spend when redeemed for cash outside their special categories, which isn't great.
That doesn't mean that they aren't good cards, but they are more about travel benefits and less about cash.
I farm bonuses, but most bonuses are for cards I don't keep. This one is good in it's own right, especially with platinum rewards.
My "main card" is the BofA unlimited cash, which is similar to this card. This card has a couple extra features, but an annual fee.
On trick is that if you have 2.625%cb, you can charge your taxes on pay1040.com for a 1.75% fee. I did that with a five-digit tax bill that recently came due, for a 0.875% profit. If you want to get greedy, reduce your withholding and pay estimates by credit card.
I'll probably collect a $600 bonus for me, another $600 for my wife, then downgrade to unlimited or customized cash before the second annual fee hits.
When did you downgrade? 13th month?
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It is cash positive to tax payment if you have status.
2.625 cents per dollar cash back - 1.75% fee from pay1040.com is a small advantage.
Also useful if you are looking for a way to hit the $4k spend for the bonus. Tax payments count.
Edit: nvm found the info
https://www.ml.com/solutions/pref...wards.ht
yes, $505 net profit.
If you are looking for $95 AF credit card, look at CSP and Capital 1 Venture 1st.
CSP > Venture > Premium Rewards BoFA
In fact, I posted it here a day before Doctor of Credit did. Here's their writeup:
https://www.doctorofcre
In fact, I posted it here a day before Doctor of Credit did. Here's their writeup:
https://www.doctorofcredit.com/ba...ash-bonus/ [doctorofcredit.com]
i also looked at the comments in DoC
"Wasn't this card at 60K since 2023?" with 17 up votes
but, thanks for posting. Hope people will get benefit from this card.
& i am not against this card, it is a good card & i have it.
I just want to highlight CSP and Venture has elevated offer for the same annual fee.