Could this be your next premium travel card?

The Financial institution of America® Premium Rewards® Elite Credit score Card is a premium for vacationers who need flexibility in redeeming rewards for any airline or lodge. Whereas it has a premium annual payment ($550), its annual credit and lounge advantages may also help offset it. Moreover, prospects with greater deposit and funding balances can earn as much as 75% extra factors on each buy.

You may earn the welcome bonus as a brand new cardholder, however you’ll need to depend on the rewards charge for continued incomes. The Financial institution of America Premium Rewards Elite has elevated spending classes for journey and eating, making this an honest card for vacationers and foodies. You even have an above-average base incomes charge in case your typical spending doesn’t align with the bonus classes.

You may earn much more as a Financial institution of America Most popular Rewards member, however you need to calculate whether or not incomes 25% to 75% extra on purchases is price storing cash with the out there Financial institution of America deposit and Merrill funding accounts.

To qualify for the bottom tier of the Most popular Rewards program, you would wish a minimum of a $20,000 three-month mixed common every day steadiness in these accounts. This could unlock a 25% factors bonus in your card.

The factors earned from the Financial institution of America Premium Rewards Elite don’t expire, so there’s no urgency to redeem them. Clients can redeem factors for journey, money again, assertion credit, experiences, or reward playing cards.

Bear in mind, you’ll get 20% financial savings when utilizing factors to e-book home or worldwide airfare.

The Financial institution of America Premium Rewards Elite is loaded with premium advantages and annual credit. Whereas the cardboard has a big annual payment, these advantages assist to justify or offset the price.

You may stand up to $300 in assertion credit yearly for airline incidental expenses, similar to seat upgrades, baggage charges, airline lounge charges, and in-flight companies. These credit don’t apply to airfare.

This credit score covers a wide range of way of life subscriptions and expenses, like video streaming companies, health subscriptions, meals supply, and rideshares.

Cost the applying payment for TSA PreCheck or International Entry to your card to be reimbursed as much as $100 as soon as each 4 years.

This card contains free limitless entry to the Precedence Move airport lounge community, the place you possibly can take pleasure in complimentary drinks, meals, WiFi, and extra, relying on the lounge. Cardholders stand up to 4 complimentary Precedence Move Choose memberships, so you possibly can share these advantages along with your family and friends.

The Financial institution of America Premium Rewards Elite is greatest suited to frequent vacationers who could make use of the cardboard’s annual credit, airport lounge entry, and journey protections. If you happen to don’t use the cardboard’s credit for eligible purchases, then the credit go away with out receiving any profit.

Moreover, prospects with bigger deposit and funding balances will obtain as much as 75% extra factors on each buy. These further rewards on your spending may also help justify the cardboard’s hefty annual payment and construct up a considerable amount of rewards.

• As much as $450 in annual credit for eligible airline expenses and way of life purchases

• As much as $100 TSA PreCheck or International Entry reimbursement each 4 years

• As much as 4 complimentary Precedence Move Choose memberships

• Earn as much as 75% extra rewards as a Most popular Rewards member

• No airline or lodge switch companions restrict the power to maximise the worth of rewards

• Excessive annual payment is difficult to justify for some prospects

• Restricted bonus classes to earn further factors on purchases

As a Visa Infinite Card, the Financial institution of America Premium Rewards Elite Credit score Card can be utilized anyplace retailers settle for Visa playing cards for fee. Visa and Mastercard are the dominant bank card processors throughout the U.S. and overseas, so you should not have any hassle utilizing this card whereas touring domestically or internationally. The cardboard additionally waives international transaction charges, making it a wonderful selection for spending outdoors the U.S.

• On-line at

• By way of the financial institution’s cellular app (, )

• Computerized recurring funds

• In-person at roughly 3,700 Financial institution of America branches and 15,000 ATMs ()

• Calling customer support at (800) 236-6497

• Mailing funds to PO Field 15019, Wilmington, DE 19850-5019

• In a single day supply to Financial institution of America, Attn: Fee Processing, DE5-023-03-02, 900 Samoset Drive, Newark, DE 19713

Whereas the Financial institution of America Premium Rewards Elite has many interesting options, it is not the most effective card for each buyer. One in all its main shortcomings as a luxurious bank card is that there aren’t any switch companions out there to maximise the worth of your rewards. If it doesn’t seem to be the appropriate match for you, contemplate these different journey bank cards.

Why we prefer it: Whereas not a premium card, the is likely one of the hottest journey bank cards for good motive. It has a low $95 annual payment, so there’s a lot much less to fret about when attempting to offset the cardmember price annually. As well as, you possibly can earn versatile Chase Final Rewards factors that may be transferred to over 12 airline and lodge loyalty program companions.

Why we prefer it: The earns versatile rewards that may be redeemed in numerous methods, similar to transferring them to over 15 journey companions. The Enterprise X can also be enticing due to its easy advantages that may simply assist offset the annual payment annually. These embody an annual $300 journey credit score for bookings made by means of Capital One Journey and 10,000 bonus miles annually beginning in your first anniversary.

Why we prefer it: One of the common premium journey bank cards is the . This card contains an annual credit score of $300 that mechanically applies to any eligible journey buy, plus airport lounge entry, premium journey protections, and extra. Its factors have quite a few redemption choices, together with transferring to over 12 airline and lodge companions or getting 50% extra worth when reserving journey by means of Chase Journey℠.

This text was edited by Ben Walker (CEPF, CFEI®)

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