Bank of America is making some changes to the benefits for the Bank of America Cash Rewards card & Premium Rewards card. These changes are listed in the latest statement for cardholders and will go into effect on February 1, 2021:
Cash Rewards:
- Auto Rental CDW benefit is being eliminated
Premium Rewards:
- Trip Cancellation/Interruption benefit is being reduced from $5000 to $2500
- Precheck/Global Entry credit is being modified to be easier to use
- Card previously gave one statement credit up to $100 every four years for either Precheck or Global Entry
- Card will now give up to $100 in statement credits every four years
- i.e. if for some reason you decided to apply for Precheck for $85 and then later applied for GE, there would still be a $15 benefit available to use on GE.
Hat tip to reader Lightspeed
Doc – Got a few mails from BofA regarding the above and one of them also said that Merrill+ is losing the Hertz Discount code starting Jan 2021.
What if I apply Nexus for $50, I still have another $50 left for GE?
Or apply APEC Travel card for $70, still have $30 left for Nexus or GE?
I looked at my change in terms letter again; the wording for post-February 1, 2021 is “up to $100 in statement credits every four years in connection with the Precheck or Global Entry programs”, so I don’t think Nexus or APEC would trigger the credit.
That’s a shame because the cash rewards can have travel as the 3% category and with the preferred rewards bonus, it can be 5.25%. Better to use the Premium Rewards after this change.
You can change the card when you return the car. (Obviously do that only when it’s not damaged..)
My farmers card just sent me the notice auto cdw will be removed. Then boa. Hopefully, ritz can keep it.
Anyone know if buying an American Airlines gift card still triggers the Premium Rewards travel credit?
Yep! Just did it recently
Can you also do delta, southwest, United, etc?
Delta: No, doesn’t work.
Southwest: No, doesn’t work.
United: Doesn’t sell GCs anymore.
However, BofA tends to be somewhat more permissive with the incidental credit than, say, Amex, and they will sometimes apply the credit if you book a low fare flight (under $100). I’ve had success with this with both United and Southwest.
Loading money into United TravelBank triggered the credit a month ago
Just buy a $100 AA gift card from aa.com??
I think the AA cards are a dangerous thing right now – most likely these GCs will be wiped out in bankruptcy. I think they are very difficult to resell right now.
Thanks. Did you then turn around and sell it? If so, how much did you get for it and where? I haven’t used my credit yet this year and that seems to be the best bet.
BTW I finally got credited the $50 dining credit when this month’s bill closed.