The offers that appear on this site are from companies from which CreditCards.com receives compensation. 4 Cards with other banks with a combined revolving limit of 120K with 1% utilization rate. You could potentially get triple points on everything from hotel and airfare purchases to public transportation, taxis, restaurant purchases, gas station purchases and even select streaming charges. Cash Advance: $10 or 3% of the amount of the cash advance, whichever is greater, Balance transfers cost 3% of the amount transferred, New Offer! But unlike the Bank of America Premium Rewards credit card, the Sapphire Preferred card doesn’t offer as many rewards opportunities, nor does it offer comparable travel credits. Rewards are easy to redeem, and if you are a Bank of America Preferred Rewards member this card is especially beneficial because your rewards points are accelerated. I was Denied because. Editorial Note: Forbes may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Excellent/Good. As an example, let’s assume that within three months you put $1,500 of travel on your premium rewards credit card along with $600 of other purchases. It is not our partner’s responsibility to ensure all posts or questions are answered. Enrolling in Preferred Rewards requires you to have an eligible Bank of America personal checking account and an average daily balan… Using this card along with a Bank of America preferred rewards relationship means you have the best or one of the best earn rates on the market on al purchases uncapped! Our reviews and best card recommendations are based on an objective rating process and are not driven by advertising dollars. Verify your identity in the app now to sign in to Online Banking. You do not need to sign up for the preferred rewards program in order to use the credit card, however, the combination of this card with the program maximizes your points and expands your reward options. As mentioned above, there are 3 distinct tiers of Preferred Rewards status. It is now offering a premium credit card that gives you the perks of a travel rewards card, the earning potential of a traditional cash back program and the exclusivity of premium rewards. Chase Sapphire Preferred card. Travel and dining definitions encompass just about everything you could imagine. Rewards rates. You’re a frequent or occasional air traveler who’s looking for a single, straightforward rewards card you can use for all or most of your purchases. If you travel frequently or infrequently this card gets even better with the bonus statement credits on airline purchases and TSA precheck. When you click on To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. The new Bank of America Premium Rewards credit card combines the features of a cash back card with the features of a premium travel card for a great value. GoldEach of these has different benefits and qualification criteria, which you’ll find all the in-depth information below.The short of it is: Bank of America rewards customers depending on their investment and deposit balances. Bank of America Cash Rewards credit card Review: More Details. CreditCards.com is an independent, advertising-supported comparison service. If you’re looking for a new travel card, the Bank of America Premium Rewards Card might be for you. You can even text Bank of America to get information about your account or monitor your credit card. This card has a low $95 annual fee and no foreign transaction fees. Your personal information and data are protected with 256-bit encryption. Reasonable efforts are made 80,000 points if you spend $4,000 in first 3 months, 20,000 points if you spend $1,000 in first 3 months, 60,000 miles if you spend $3,000 in first 3 months. Qualifying incidental purchases include baggage fees, seat upgrades, ticket changes or cancellation fees, in-flight entertainment, food and beverage purchases and airport lounge purchases. What Credit Scores Do I Need to Qualify for the Bank of America Cash Rewards Card? The points are unlimited and face no expiration date, as long as your account is in good standing. And its Preferred Rewards Program for BofA banking customers can increase the rewards by as much as 75%. However, all credit card information is presented without warranty. The Bank of America Premium Rewards card delivers up to $200 in travel credits and exclusive deals through its Visa Signature partnership. You’ll also get 2 points per dollar spent at amusement parks and other tourist attractions, such as art galleries, aquariums, zoos, circuses, carnivals and more. What Credit Scores Do I Need to Qualify for the Bank of America Cash Rewards Card? Bank of America Preferred Rewards Program This card really shines when you can get higher earning rates with the Bank of America Preferred Rewards Program. You’ll get some great travel benefits and decent rewards on travel, dining, and everyday purchases. So if you’re a frequent flyer looking to boost your travel miles, you’re better off seeking a different card. Once you have a total of $20,000 in assets between qualifying Bank of America and Merrill investment accounts, you qualify for Gold Preferred Rewards benefits. The Bank of America Cash Rewards credit card* comes with some serious — and customizable — perks: a tiered cash back system, introductory 0% … This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Platinum Honors 2. Charge at least $1,000 a month for the card’s first 90 days in order to earn a sign-up bonus. These cards reward cardholders for every dollar they charge to their card. In this review, I’ll cover the basic card features but also focus on a lesser-known opportunity – if you’re a Preferred Rewards client, you can increase that bonus to … No matter how you redeem them, your points will be worth 1 cent each. If you have questions about a card or need help from customer service, you shouldn’t have any trouble reaching a Bank of America representative. You spend … Bank of America’s most popular points rewards credit cards focus on travel. You’ll find a handy calculator on the BofA site that helps you estimate the rewards you’ll earn based on your spending habits. 14.99% - 22.99% Variable. In this review, I’ll cover the card features but also focus on a lesser-known opportunity – if you’re a Preferred Rewards client, you can increase that bonus to 25% – 75%. Bank of America has a very unique rewards program for both their Bank of America and Merrill Lynch account holders. -1 Prior Inquiry -No relationship with Bank of America Save your time and avoid the Hard Pull - This was a real bank back when it was fleet. The Premium Reward’s $100 travel credit for airline incidental purchases is also unusual for a card that costs just $95 to own. If your credit card receives the 10% customer bonus, the Preferred Rewards bonus will replace the 10% customer bonus. See related:Is the Citi Prestige card the best dining rewards card available? By providing my email address, I agree to CreditCards.com’s At the platinum level, Bank of America boosts your rewards by 50%, meaning 3 points per travel and dining dollar and 2.25 points for non-travel purchases. Basically, the more cash you hold with Bank of America and/or Merrill, the more you’ll get in cash back. With the 25% rewards bonus, your points increase to 4,875 ($48.75); with the 50% rewards bonus, you would get 5,850 points ($58.50) and with the 75% rewards bonus, you would get 6,825 points ($68.25). With such a generous travel credit, the Bank of America Premium Rewards credit card doesn’t require much of a commitment – as long as you spend enough on incidental purchases, such as baggage fees, to use your travel credit. Overall, it ranked seventh in satisfaction among credit card issuers. The card’s 50,000 bonus offer, up to 2 points for every $1 spent, and $200 travel statement credit more than offset its $95 annual fee. Haven't found the right card yet? This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. This card does not offer a lot of complementary features (e.g. Bank of America® Premium Rewards® credit card. Extra Rewards on Everyday Purchases for Bank of America Credit Card Customers. Privacy Policy, Essential news and expert tips in your inbox every week. The full review: The Bank of America Cash Rewards Credit Card is the no-annual-fee “cash back” credit card in the Bank of America line-up. Platinum ($50,000 to $99,999) = 50% rewards boost, which equals 3x points … That’s $1,250 toward travel when redeemed through Chase Ultimate Rewards®, Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year, Earn 1 point per $1 on all other purchases – with no limit to the amount you can earn, Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards, Redeem points for travel, cash back, gift cards and more – your points don’t expire as long as your account is open, Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Most Bank of America ® branded consumer credit cards (such as the Cash Rewards, Travel Rewards and Premium Rewards ® credit cards) are eligible to receive the Preferred Rewards bonus, as long as the card account is open with active charging privileges. You’ll earn 2 points for every dollar you spend on travel and dining – which is equivalent to what some competitors, such as the Chase Sapphire Preferred® Card* offer. N/A. Bank of America will also reimburse you up to $100 for your application to Global Entry or TSA Precheck, so you can zip through airport security more quickly. Check out these popular alternatives: Forbes adheres to strict editorial integrity standards. Final word. Accumulating points and using your rewards should be easy, if you use the card for everyday expenses. I”m not too crazy about the earning structure but it can be extremely lucrative for those with a lot in assets. Just one severely delayed flight or lost piece of luggage could make you glad you used it. The following chart shows the qualification requirement of minimum balance and rewards for Gold, Platinum, … Depending on how much money you have saved with Bank of America, you could earn a substantial bonus on all your earnings. When Will I Get It? It seems that Bank of America is really trying to listen to customers. We’re sorry, but something went wrong and we couldn’t find your approval odds. This includes the Bank of America® Travel Rewards Card, Bank of America® Travel Rewards Credit Card for Students, and the Business Advantage Travel Rewards World Mastercard®. You’ll only receive double points on travel and dining purchases. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. See your unique approval odds listed next to cards on our site. Depending on your spending habits, however, you may be able to get a bigger sign-up bonus and more rewards and perks with a card that has an annual fee. Get a credit card rewards bonus of up to 75% on eligible Bank of America credit cards. Associated fees. It is a great perk that can help you earn hundreds of dollars per year in value if you have one of the following credit cards: $50,000 in total assets qualifies for the Platinum tier, and $100,000 in total assets qualifies for the Platinum Honors tier of Preferred Rewards. Out of much demand from its customers, Bank of America enhanced its redemption options.