New Bank of America Premium Rewards Card with 50,000 Points Bonus

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Bank of America premium rewards credit card

New Bank of America Premium Rewards Card with 50,000 Points Bonus

It’s been rumored recently that Bank of America would soon offer a new premium credit card, probably after seeing all other major credit card issuers release or enhance their premium products. The rumors seem true, a premium card is indeed coming, but it doesn’t look like a competitor to other premium cards. Let’s take a look at the details we know so far.

Bank of America Premium Rewards Credit Card

There’s rumors and some solid proof of what to expect from this new Bank of America product, from reddit and Doctor of Credit.

  • 50,000 points signup bonus
  • 2x on travel and dining
  • 1.5x on all other purchases
  • $100 yearly travel credit
  • $100 Global Entry/TSA PreCheck
  • $95 Annual Fee

Analysis

The card isn’t very exciting and definitely not a card that can be considered “premium” in today’s market. The bonus is decent as it can be worth $500 or more, and if the travel and global entry credit are indeed part of the benefits, it could be worth keeping open, but not really use the card.

The only way that the card could have some value in the long terms is if you have Preferred Rewards Platinum Honors status with Bank of America. That will give you a 75% bonus on points, making the earning rates 3.5x on travel and dining and 2.625x on all other purchases. Preferred Rewards Platinum Honors status though requires 100K+ at Bank of America.

Conclusion

The card sure is worth getting for the bonus and maybe free Global Entry if you don’t have any other premium cards, but for most people it’s not an exciting new product. The card is not available yet, and is expected to be released this fall, hopefully with some more perks.


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7 COMMENTS

  1. So essentially, this card will be free then if there’s only a $95 AF and a $100 travel credit? Agreed that it’s not really a premium card, but it’s definitely worth a churn imho.

  2. I can get 2x on travel and dining (and all other spending) with a Citi Double Cash, so apart from the signup bonus, this card doesn’t even keep up with the better flat rate cards. The Chase Sapphire Reserve gives 3x on travel and dining.

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