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.
Recommended for you:
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- Earn 6,000 Lufthansa Miles & More miles for $22.48 with MTX connect (just 0.4 cents per mile)
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- How to use the Marriott MMP code to save money on your hotel stay
- Norwegian launches Denver and Seattle, Norwegian taking over Argentina?, Amazon Cash launches, 100,000 Bonus points British Airways card, Alaska happy with Virgin, 3x on gas purchases with the AMEX Platinum
Questions, corrections, ideas about this article? Catch us on Twitter @mightytravels
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About the author: Torsten is a serial entrepreneur who started almost a dozen ventures on four continents.
Torsten's love for travel has brought him to 130+ countries and travel with most of the world's airlines.
You can reach Torsten at [email protected]
This post has been tagged with: Bank of America | bonus | Card | Chase | Chase Sapphire | credit | Credit Card | Earn | favorite | fees | manufactured spending | points | Premium Rewards Credit Card | travel
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