Bank of America today announced the launch of the Bank of America® Premium Rewards® credit card that provides customers with unlimited points that don’t expire, flexible rewards, and premium travel benefits.
With the Premium Rewards credit card, cardholders earn two points for each dollar spent on travel and dining purchases and 1.5 points for each dollar spent on all other purchases. Cardholders who are also enrolled in the bank’s Preferred Rewards program get even more, as rewards points can increase by 25 to 75 percent on each purchase – up to 3.5 points per dollar spent on travel and dining purchases and 2.62 points per dollar on everything else. There’s no limit or expiration on points.
The card also offers an extensive choice of redemption options that include cash back as a statement credit or deposit into eligible Bank of America or Merrill Lynch® accounts (including deposit, investment or 529 accounts); travel purchases (air, car and hotel) through the Bank of America Travel Center; or gift cards. The redemption value of points is 1 percent (2,500 points equals $25, whether for cash back, travel or gift cards).
“We listened to our customers and designed this card to give them the flexibility to use their rewards points in the way that best suits their life priorities,” said Jason Gaughan, credit card executive for Bank of America. “The card’s rewards become even richer when combined with our Preferred Rewards program - giving our clients more value across their relationship with us."
Other features include:
Up to $100 annual airline incidental statement credit for qualifying travel purchases such as seat upgrades, baggage fees, in-flight services and airport lounge fees.
Up to $100 airport security statement credit towards TSA-Precheck or Global Entry Application fee, every four years.
Access to Visa’s Signature Luxury Hotel Collection, which provides a best available rate guarantee and special offers when available, including room upgrades, late checkouts, free in-room Wi-Fi, and food and beverage deals at more than 900 hotels nationwide.
Visa Signature Concierge service for assistance with travel planning, restaurant recommendations and event reservations.
Travel insurance protections to assist with trip delays, cancellations and interruptions, lost baggage, and emergency evacuation and transportation.
No foreign transaction fees.
Annual fee of $95.
Introductory offer of 50,000 bonus points – a $500 value – for qualifying customers (must make at least $3,000 in purchases in first 90 days of account opening).
With the Preferred Rewards program, customers get more benefits and rewards with their everyday banking, across their Bank of America relationship. Benefits grow as qualifying Bank of America deposit balances and/or Merrill Edge and Merrill Lynch investment account balances increase.
Learn more about the Premium Rewards card, including terms and conditions.
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,500 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 34 million active users, including 23 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Reporters May Contact:
Betty Riess, Bank of America