The Offer
- Bank of America Premium Rewards card is offering a signup bonus of 60,000 points (worth $600 cash) after you spend $4,000 on the new card.
Card Details
- Annual fee of $95 (not waived first year)
- This card may not be available to you if you currently have or have had the card in the preceding 24 month period.
- $100 Airline Incidental Statement Credit annually for qualifying purchases such as seat upgrades, baggage fees, in-flight services and airline lounge fees. Only applies to domestic-originated flights on certain U.S. Domestic airline carriers.
- $100 airport security statement credit towards TSA Pre✓ ® or Global Entry Application fee every four year
- Card earns at the following rates:
- 2x points for every $1 spent on travel and dining purchases
- 1.5x points for every $1 spent on all other purchases
- No foreign transaction fees
- Eligible for Bank of America Preferred Rewards, meaning you can get an additional 25-75% rewards on all purchases. Makes the card earn at the following rates with top tier status:
- 3.5x points per $1 spent on travel & dining purchases
- 2.625x points per $1 spent on all other purchases
- Points are worth 1¢ each and can be redeemed for cash back as a statement credit into eligible Bank of America or Merrill Lynch accounts or to purchase travel through the Bank of America travel center or to redeem gift cards
Full card review for Bank of America Premium Rewards card can be found here.
Our Verdict
Since its launch in 2017, the offer on this card has been 50,000 points with $3,000 spend. They’re now bumping it up to 60,000 points with $4,000 spend which is nice.
If you don’t have the card, this is pretty easy $600 bonus to meet. It does have the $95 annual fee, which some might be able to offset with the $100 travel incidental credit (see what counts here).
Bank of America has also increased the Elite version of this card to $750.
We’ll add this to our List of Best Current Credit Card Signup Bonuses. Check out these Things To Know About Bank of America Credit Cards before applying.
Hat tip to USCCG
If I currently have Customized Cash Rewards card from BofA, does it disqualify me from getting this card?
When does the travel credit counter reset for 2025? It’s fking January 9th
If you read any of the historical comments on threads for this card and the PRE, you would know it usually not until sometime around the 12th-15th. Not unusual at all.
It’s the 18th now and still did not reset!
21st, still not reset & not showing credit yet for AA gift card purchase on the 1/2 – it’s coming real close to the 30 day window to close and get AF refunded 😬
The tracking has nothing to do with the refund … You could be refund even if the tracker is late.
Yes that is understood – but I need the credit to come through before I cancel the card, and you have 30 days to cancel and get AF back. I’m merely adding a DP for future readers wondering when the tracker might reset in future years.
Some DPs to add….
-I recall some discussion of the fee posting date for those hoping to triple dip….
Opened 12/6/24
Received Card 12/14/24
Annual Fee charged 12/31/24
-United Travel Bank $100 purchase successfully triggered the travel credit.
They have a tracker for the new account bonus which is nice. No guessing involved!
I should have opened the Elite card in December too so I could triple dip that one as well; but, I opened several cards for bonuses in November/December and I didn’t want to overdo it. Credit card applications are usually more sensitive to a high number of recent account openings than checking accounts!
Looks like BOFA has no set policy on AF refund. Are folks closing this just before the fee hits for renewal especially for a non-bofa-banking customer ?
Just met the min spend and got the bonus. Is there a way to get a direct deposit to outside bank? I only see credit statement as an option. I don’t have any checking accounts with BOA
I wonder if you could pay the statement balance then request the statement credit for the cash back…resulting in a credit on your account…then ask them to refund the credit to you via check?
Made a $50 united travel bank charge and $100 airline fee credit tracker showing it as reimbursed within 72 hours.
Has anyone done this card and the BofA premium elite at the same time for both bonuses? Thinking about trying to combine pulls too.
I did last year; no issues.
Out of curiosity….is the elite version considered “the same card” or could someone do both versions?
Different card, can have and get both.
Pretty much BoA CSP and CSR.
Minnesota (MN) datapoint. Had Experian and equifax frozen and transunion unfrozen. They sent me an email instructing to unfreeze. I then refroze TU and thawed EX. Instant approval. $22k limit. 794 FICO.
Was able to ask for expedited delivery and they definitely delivered. Approved friday afternoon and the card showed up monday around noon via UPS
Just so you know, if you had waited until 12/1 you could have triple dipped it. I’m in MSP too. Do you by chance know of a good business relationship manager at Chase?
As in, get three years of benefits for one AF? I didn’t know they went by calendar year, not cardmember year. Oh well.
And not really. Last biz bonus I did in person was with Amita in one of the downtown locations.
Right, calendar year. Annual fee will post 11/30. Still a good score. I used the lifestyle credits to have groceries I needed delivered from door dash.
Did they specifically ask you to unfreeze/Thaw the Experian?
yes. I had TU unfrozen and they did not pull it. this was the email they sent.
Please contact one or both of the credit reporting agency(ies) listed below to have them temporarily release your credit report.
Experian
TransUnion
Card approved 10/06/2023 (last year). Annual fee notification: Something new, they send you a letter in the mail now a month prior to the Annual Fee posting. (Or, if not new, my memory is getting bad, because I don’t recall this happening in the past). Ltr said said my AF would be posting on my November statement. Also, it listed 4 separate 0% APY offers that is being offered for my card. I haven’t been playing the float the money game with the 0% APY offers.
Retention offer?: Called the number on the back of the card (800-421-2110) to close or product change today (banking holiday). I mentioned that I would like to review my options for conversion to get a card without an annual fee. Rep said they couldn’t do that, implying that they could only close the card, and tried to transfer me to a different dept, but they were not available to do so.
Rep said to call a different number, Mon-Fri 5AM-6PM Eastern (866-866-2059). Per somebody on Reddit, they are the “Advanced Client Solutions team“.
Seems the moral of the story is… call during the “workday” and not holidays… if you want an “Advanced Solution”.
I guess I could have moved the credit limit over to another card today, but I assume I will be product changing, more than likely without a retention offer. 400 points ($4) in CC rewards will be lost.
Were you able to change the product? I have closed 4 PR cards so far, the last one on Oct 10th. I never had a retention offer nor they were able to change the product. The only way to get the fee refunded is to close the card. I have always got the fee notification letter. I am planning to apply next month. Platinum Honors customer and luckily they have never denied me a credit card but for whatever reason can never open a bank account online with them.
Yes. This is the 2nd time I have PC’ed a BofA Premium Reward card. P2, once.
Chuck was able to PC too… there is a whole post about it.
https://www.doctorofcredit.com/my-bank-of-america-premium-rewards-product-change-retention-offer/#comment-1932957
AFAIK, the only restriction is waiting a full year from opening, and actually, not even sure that is a rule either.
If you are trying to refund the 1st year AF, good luck with that.
BonusDuck
What’s the advantage of PC to a new card rather than closing? I’ve always closed after the 1 year mark to avoid the next fee and to maintain good standing with the institution.
I like to let them age. Plus, I earned that additional credit line. Closing it gives it right back. (I know Chase allows moving CL’s over before closing – not sure about BofA)
I am not a HUGE CC churner, so don’t take my advice as the same as Reddit Churning might suggest. I have been under 5/24 for awhile now. Crazy. Haven’t opened a single Amex in 5+ years (partially because of the nasty popup)?
I do have over 30 open CC’s and thinning the herd slowly. Fifth Third and FNBO was the first to go this month. I think a Chase card and a Barclays is going next.
Ok I’ve just always kept my oldest credit line open since that helps my score. Otherwise it’s too stressful to keep them open and takes up space on my spreadsheet for all of my open accounts when filtered. I’ve also thought having too much available credit line as a percentage of income makes it less likely to get a new card for a SUB. So by practice I close all but my daily driver after a year. I’m not a heavy hitter either and am under 5/24 but have hit the biz cards hard lately. Thanks for the explanation.