Thoughts on the Bank of America Premium Rewards Card??

[Anonymous]

Hi everyone! Remember me?? Things are going wonderful, hope everyone else is okay, I never knew that credit and credit scores were so important in life, anyways, what are your thoughts on this card?? It's new?? But I believe there's an annual fee, looks like an interesting card, it looks like BofA is trying to compete with AMEX Gold Premier Rewards Card, with the annual fee thing, what do you all think??

[gdale6]

I plan to get it for the 500 bonus actually the 405 bonus after the AF is paid as this card doesnt waive it first year. If you have certain BoA deposit accounts you can increase the redemption by 10%. The actual rewards are meh, have other cards that are better but at this point in my journey I am going for the big sign up deals.

[CreditCuriosity]

Good card IMO if you have 100k+ in Merrill rollover IRA or similar..  Otherwise the bonus is very nice although this card appears to be a bit stricter with BofA approval criteria (to many recent accounts) vs. their other cards due to the bonus I am assuming

[Anonymous]

When you factor in the $100 travel credit and once every 4 year Global Entry/PreCheck credit, you actually net more than the $500 sign up bonus.

Rewards earning potential is great if you’re a Preferred Rewards member w/ $100K with them. It’ll net you 3.5% back on travel and dining, and 2.625% back on all other purchases.

[CreditCuriosity]

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@Anonymouswrote:
When you factor in the $100 travel credit and once every 4 year Global Entry/PreCheck credit, you actually net more than the $500 sign up bonus.

Rewards earning potential is great if you’re a Preferred Rewards member w/ $100K with them. It’ll net you 3.5% back on travel and dining, and 2.625% back on all other purchases.

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Correct.. I would still use the CSR for Food/Travel, but as general spend a good card this would be it for me.

[MrDisco99]

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@Anonymouswrote:
When you factor in the $100 travel credit and once every 4 year Global Entry/PreCheck credit, you actually net more than the $500 sign up bonus.

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If you actually get to use it.  The "travel credit" is actually an airline incidentals credit similar to Amex, which can be tricky to redeem if you don't fly a lot.  Airline gift cards don't seem to trigger it as easily as they do with Amex.

For me, I would like to get the card just for the bonus, and perhaps as a way to cash out my points on the Travel Rewards card.  It wouldn't be a keeper card for me, though.  It's really best suited for people with big deposits with BoA.

[Anonymous]

@4theloveofpoints: yeah, but my penfed Pathfinder has a $100 travel credit and global entry reimbursement and there's no fee on that card, soooo...I personally don't value those perks particularly highly - especially once I get the Citi Prestige and Amex Platinum and have those credits on my hands as well - $300 airline incidentals (maybe gift card > tickets with the amex?), $250 airline including tickets, and $200 Uber, which I don't even use much - will likely end up using it to get Uber eats delivery once a month at work lol

[Anonymous]

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@Anonymouswrote:
@Anonymous: yeah, but my penfed Pathfinder has a $100 travel credit and global entry reimbursement and there's no fee on that card, soooo...I personally don't value those perks particularly highly - especially once I get the Citi Prestige and Amex Platinum and have those credits on my hands as well - $300 airline incidentals (maybe gift card > tickets with the amex?), $250 airline including tickets, and $200 Uber, which I don't even use much - will likely end up using it to get Uber eats delivery once a month at work lol

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Thank you for reminding me about the Uber eats program. I can use that at work since I rarely hitch a ride wiith Uber anyways.