Bank of America Premium Rewards Credit Card launches, amazing opportunity for manufactured spend

Posted on September 18, 2017 by in Chase Sapphire Reserve, Chase Ultimate Rewards, Manufactured Spend

You can apply for the Premium Rewards Credit Card here.

Bank of America is out with the Premium Rewards Credit Card (that is the actual name!), their version of a ‘Chase Sapphire Reserve Killer‘.

The card comes with an annual fee of $95 (not waived) but also a $100 travel credit. The sign-up bonus (after $3,000 in spending) of 50,000 points is worth $500 as a statement credit (generous!) or in travel redemptions.

The card earns 2x on travel and dining and 1.5x on everything else. However if you deposit $100,000 with Bank of America (Investments or Checking) and become a Platinum Preferred Member the card will suddenly earn 3.5x on travel and 2.625 on everything else.

The Chase Sapphire Reserve is still my favorite with a straight earn for travel/ dining spend at 3x but if you do a lot of (manufactured) spend in a non-bonus category the 2.625x can be amazing.

I have met people who rack up $100,000 in manufactured spend per week (yes in Middle America likely) and this would give them $2,625 in INCOME before fees for the (manufactured) spending. Fees for manufacturing a spend of $100,000 can be as low as $400. That is downright amazing!

According to the posted Terms & Conditions there is no limit for this posted right now. This may or may not change. Likely a cap of $100,000 will be introduced at some point. But if you get the card now the bank can’t just change the Terms overnight without risking a lawsuit.

You can apply for the Premium Rewards Credit Card here.