However, the purchases that qualify for the credit are fairly limited. But it offers significantly more perks than many of its similarly priced competitors, including stronger travel insurance protections. Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact how and where products appear on the site. Bank of America sent out an email to Preferred Rewards members that they are temporarily postponing the review process on Preferred Rewards status. Good to excellent credit (generally a 670-plus FICO® Score) is suggested for the Bank of America® Cash Rewards credit card. Learn more about our advertising policy. Where Is My Stimulus Check? Meanwhile, its superior travel insurance benefits make it a great card for purchasing travel. No matter how you redeem them, your points will be worth 1 cent each. Associated fees. You can redeem points: Deposits can go into Bank of America banking accounts; Merrill’s cash management accounts; its online brokerage platform and Merrill’s 529 educational savings accounts. For a card that costs just $95 a year to own, the Bank of America® Premium Rewards® credit card is unusually generous – especially if you’re a Bank of America customer. That’s because the bonus earning on this card is tiered and increases based on the size of your assets with Bank of America/Merrill. 3X points on dining at restaurants including eligible delivery services, takeout and dining out & 1 point per $1 spent on all other purchases, Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. 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. Power's 2019 Credit Card Satisfaction Study, which is about average. In addition, it lets you transfer your points on a one-to-one basis to a variety of travel rewards programs. CreditCards.com does not include the entire universe of available financial or credit offers. One point redeemed is worth $0.01 or 1%, therefore 2,500 points equals $25. 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. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. How Will Your Payment Arrive? Bank of America Cash Rewards Credit Card Review The Bank of America® Cash Rewards Credit Card offers a strong rewards program with no annual … 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. With a $95 annual fee, this credit card offers 2X points per $1 spent on dining and travel and 1.5X points per $1 spent on all other purchases. As a Bank of America Preferred Rewards member, you can earn an additional 25%, 50% or 75% more cash back on your purchases. When you click on The big advantage of this credit card is Bank of America Preferred Rewards. To simplify calculations further, that’s 2.5 points per $1 spent on travel and dining and 1.875 points for other purchases. It also offers the same application fee credit for TSA Pre-Check or Global Entry, which is a rare benefit for a mid-tier travel card. When you take into account the Bank of America card’s airline credit, which essentially cancels out the annual fee, some of its fiercest competitors are the Wells Fargo Propel American Express® card, which offers an estimated 1.78 points for every dollar you spend, and the Citi Double Cash card, which offers up to 2 percent cash back – 1 percent when you make a purchase and 1 percent as you pay for your purchases. Earning Membership Rewards, the currency of American Express, can be a great way to rack up points, which can then be redeemed for valuable rewards.There are a number of different American Express cards on offer in the U.K., and the choices can sometimes be confusing.. Fortunately, American Express has designed a card that’s marketed towards anyone new to rewards credit cards. Currently, the only other major competitor with a similar fee that offers it is the Capital One Venture card. Who Is Eligible For The $600 Stimulus Check? This card has a low $95 annual fee and no foreign transaction fees. The Bank of America Travel Rewards Credit Card is the main “travel rewards” credit card branded by Bank of America. J. D. Power 2020 customer satisfaction rating. If you apply for a credit card, the lender may use a different credit score when considering your application for credit. It offers plenty of opportunities to earn points and its rewards, depending on how often you use the card, outweigh the annual $95 fee. This essentially turns your 3% cashback rate into 3.75%, 4.5% and 5.25%. Haven't found the right card yet? It is not our partner’s responsibility to ensure all posts or questions are answered. 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. Unlike some travel rewards cards, you don’t necessarily have to spend a lot of money on travel to earn a fair number of points either. Credit Score ranges are based on FICO® credit scoring. The Bank of America Preferred Rewards program is probably not worth pursuing unless you qualify for Platinum Honors and maximize the 75% bonus on credit card earnings. Meanwhile, qualifying dining purchases include sit-down restaurants, fast-food eateries and bars. The Bank of America Cash Rewards Card is designed for people with good credit. Are you sure you want to rest your choices? With a $95 annual fee, this credit card offers 2X points per $1 spent on dining and travel and 1.5X points per $1 spent on all other purchases. If you're enrolled in this security feature, we sent a notification to your registered device. Chase Sapphire Preferred card. Excellent/Good. See your unique approval odds listed next to cards on our site. Its strong rewards rate, especially on general purchases, make it a good everyday credit card. The Bank of America Premium Rewards credit card is a fine travel and dining credit card that can justify its $95 annual fee. The bank’s secured cards, business credit cards and nonreward cards — such as the BankAmericard® Credit Card — don’t qualify for Preferred Rewards. N/A. Instead, you’ll see recommended credit ranges from the issuers listed next to cards on our site to help you determine which cards you’re likely to be approved for. Bank of America doesn’t let you transfer your rewards earnings either. But approval relies on more than just credit scores. Note, people with higher scores can be … She also spent two years teaching English as another language in Shenzhen, Guangdong, China. Annual Fee . 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: The points are unlimited and face no expiration date, as long as your account is in good standing. The Bank of America Premium Rewards Credit Card is a solid travel rewards card. That means you could earn up to 2.62 points for every $1 you spend, everywhere, every time. 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. Bank of America® Travel Rewards credit card is a good card for someone who does a moderate amount of traveling and doesn't want the hassle of hidden fees or categories to earn points. 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. The Bank of America® Travel Rewards credit card, on the other hand, earns 1.5x across all purchases. 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. This is just one scoring method and a credit card issuer may use another method when considering your application. I”m not too crazy about the earning structure but it can be extremely lucrative for those with a lot in assets. What really sets this card apart, though, is its loyalty bonus: If you have a healthy amount of savings set aside in a Bank of America deposit account, you’ll be rewarded with an additional 25 percent to 75 percent redemption bonus on all your earnings – making the Bank of America Premium Rewards credit card exceptionally lucrative. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. You have to go through Bank of America’s Travel Center to pay for your travel with rewards points. Platinum 3. And its Preferred Rewards Program for BofA banking customers can increase the rewards by as much as 75%. But now, Bank … For example, 50,000 points are worth $750 toward travel, With Pay Yourself Back℠, your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories, 1:1 point transfer to leading airline and hotel loyalty programs, Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority PassTM Select and up to $100 application fee credit for Global Entry or TSA Pre✓®, Earn 3x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. So if you earn 10,000 points, you’ll essentially have $100 worth of rewards to spend. Qualifying incidental purchases include baggage fees, seat upgrades, ticket changes or cancellation fees, in-flight entertainment, food and beverage purchases and airport lounge purchases. Bank of America Preferred Rewards members can earn up to 75% more points, so you effectively earn 2.625 points per $1 spent. And platinum honors ups you to 75%, netting 3.5 points per travel-related dollar and 2.62 points for all other purchases. -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. These cards reward cardholders for every dollar they charge to their card. For example, 60,000 points are worth $750 toward travel. These cards reward cardholders for every dollar they charge to their card. Is the Citi Prestige card the best dining rewards card available? The Bank of America Cash Rewards Card is designed for people with good credit. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. Bank of America® Travel Rewards credit card has one of the easiest sign-up bonuses to qualify in the entire credit card universe. You’ll only receive double points on travel and dining purchases. The card offers a $100 airline credit that you can use for incidental expenses, an application fee credit for TSA Pre-check or Global Entry and a solid points program that rewards a variety of spenders. For example, the Capital One Venture Rewards Credit Card offers 2 miles per dollar spent. Bank of America Preferred Rewards members can earn up to 75% more points, so you effectively earn 2.625 points per $1 spent. Travel and dining definitions encompass just about everything you could imagine. Redeeming Rewards . However, all credit card information is presented without warranty. So if you’re a frequent flyer looking to boost your travel miles, you’re better off seeking a different card. If you’re looking for a new travel card, the Bank of America Premium Rewards Card might be for you. However, we do receive compensation when you click on links to products from our partners. 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. If you redeem your points for travel, gift cards or cash back, each point is worth 1 cent each. Bank of America cash rewards (and related Preferred Rewards program bonuses) can be applied as statement credits or deposited directly into Bank of America checking and/or savings accounts. Bank of America’s most popular points rewards credit cards focus on travel. 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. This is also unusually generous for a midtier travel card. 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases. See application, terms and details. You spend … Depending on how much money you have saved with Bank of America, you could earn a substantial bonus on all your earnings. You’ll find a handy calculator on the BofA site that helps you estimate the rewards you’ll earn based on your spending habits. At 1.5 points per $1, that’s over 85,000 points or over $850 in cash back rewards. The Bank of America Cash Rewards card’s unique rewards earning scheme is appealing for cardholders seeking flexibility, but the purchase cap on bonus categories limits its potential value. Bank of America Preferred Rewards. One of the impressive features is the ability to earn 2 points for every dollar you spend trekking the globe and eating out. to maintain accurate information. After spending just $1,000 on purchases in the first 90 days, you’ll earn 25,000 bonus points, worth $250. The total equals $2,100, which is 3,900 points ($39.00 cash back). Privacy Policy, Essential news and expert tips in your inbox every week. 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. Preferred Rewards members earn 25%-75% more points on every purchase. If you compare cards based on rewards alone, the Venture card offers significantly more value than the Premium Rewards credit card. However, preferred cardholders can boost this earning rate significantly. It seems that Bank of America is really trying to listen to customers. Bank of America® Travel Rewards Credit Card 2021 Review, Application & Rates " On the plus side, this card's bonus program is great for those looking to earn free flights, hotel stays, and other perks. Once you become a Bank of America Preferred Rewards member, your credit-card rewards bonus can be between 25% and 75% of your base cash rewards. 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. All reviews are prepared by CreditCards.com staff. 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. Bank of America’s most popular points rewards credit cards focus on travel. Your personal information and data are protected with 256-bit encryption. © 2021 Forbes Media LLC. All other purchases earn just one point per dollar spent. We’re sorry, but something went wrong and we couldn’t find your approval odds. With Merrill Edge, sales are subject to a transaction fee of $0.01 to $0.03 per $1,000 of principal, and some fees apply to owning ETFs. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. The Bank of America Cash Rewards Credit Card is the no-annual-fee “cash back” credit card in the Bank of America line-up. 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! Power ranked Bank of America third for customer satisfaction in its 2020 Credit Card Satisfaction Study. 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. These terms allow CreditCards.com to use your consumer report information, including credit score, for internal business purposes, such as improving the website experience and to market other products and services to you. The Bank of America Cash Rewards card is most rewarding to those who have a sizable balance in a Bank of America or Merrill account. 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. $0. The Bank of America Preferred Rewards program offers more benefits and rewards, for account holders that conduct their everyday banking and investment activities within the bank, more than ever. However, its travel protections and flexible reward redemptions are competitive advantages against cards such as Chase Sapphire Preferred® Card and Capital One Venture Rewards Credit Card*. See related:TSA Precheck, Global Entry credits now offered on lower-annual-fee cards. Your credit cards journey is officially underway. The Bank of America Premium Rewards credit card doesn’t offer nearly as many rewards points per dollar spent as some competitors, such as the Capital One Venture card. The Bank of America® Travel Rewards credit card is a very good option for people with excellent credit who want to reduce the cost of travel without paying an annual fee. Bank of America offers the preferred rewards program to its customers who have a combined minimum balance of $20,000 in their banking and investment accounts. Monthly maintenance fees are waived on up to 4 eligible checking and 4 savings accounts from Bank of America. 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. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. Good to excellent credit (generally a 670-plus FICO® Score) is suggested for the Bank of America® Cash Rewards credit card. By providing my email address, I agree to CreditCards.com’s Balance Transfer Fee: Either $10 or 3% of the amount of each transaction, whichever is greater. Here are the main benefits of Preferred Rewards, regardless of status: Select Banking Services. 4 Cards with other banks with a combined revolving limit of 120K with 1% utilization rate. Bank of America has a very unique rewards program for both their Bank of America and Merrill Lynch account holders. Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. If you have a large amount of cash reserves, consider moving those savings to Bank of America to earn more card rewards. Many Americans Have Already Received Their $600 Stimulus Payments—Have You? Final word. Because of the Preferred Rewards enhancement of 25% to 75% on rewards points for those with larger combined account balances with Bank of America, customers of the bank should be particularly interested in this card for travel purposes. For a card that costs just $95 a year to own, the Bank of America® Premium Rewards® credit card is unusually generous – especially if you’re a Bank of America customer. All Rights Reserved. The Bank of America Cash Rewards credit card benefits include fraud protection, the option to add your card to a digital wallet such as Apple Pay, and monthly FICO credit score access for free. It also offers unusually strong travel and purchase benefits for a no annual fee card. 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! Bank of America® Travel Rewards credit card Excellent rewards for the price (which is $0) This $0-annual-fee card offers a solid flat rewards rate of 1.5 points per dollar on all purchases. We estimate that you’ll earn roughly 1.61 points for every dollar that you charge to the Bank of America Premium Rewards credit card (based on data from the Bureau of Labor Statistics) . Keep an eye on your inbox—we’ll be sending over your first message soon. To start off, you need: The Bank of America Premium Rewards credit card also advertises an unusually generous suite of travel and purchase benefits, including: You’ll need good to excellent credit to qualify for the Premium Rewards credit card. The card also offers a competitive sign-up bonus. Enjoy an APY rate boost of up to 20% on qualifying savings accounts. See related: Make the most of your card’s travel credits. Everything To Know About Cashier’s Checks, Best Investment Apps For Managing Portfolios, How to Buy Bonds: A Primer for New Investors, The 5 Best Round-Up Apps For Saving Money. Do You Need To Claim The Second Stimulus Check? You’re looking for strong travel insurance benefits, as well as reliable points on everyday purchases. Historically it has been underwhelming against its competition for other cash back credit cards. But if you’ve already purchased travel and want to be reimbursed for it, you can request a statement credit or have Bank of America deposit cash directly in your account. Basically, the more cash you hold with Bank of America and/or Merrill, the more you’ll get in cash back. Extra Rewards on Everyday Purchases for Bank of America Credit Card Customers. Requires excellent credit The Verdict: The Bank of America® Premium Rewards® credit card is one of the best rewards cards for people with excellent credit who like to travel and dine out. Charge at least $1,000 a month for the card’s first 90 days in order to earn a sign-up bonus. 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). All Rights Reserved. Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. Receive 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening. Pair the Bank of America Premium card with the. Flights, trailer rentals, limousines and art gallery admissions are a few examples of the travel purchases that qualify for 2 points per dollar. Bank of America is also unusually generous in its definition of what counts as a travel or dining purchase. See related:Is the Citi Prestige card the best dining rewards card available? 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 25% – 75%. The Bank of America® Premium Rewards® credit card* is a top rated cash back credit card, particularly for those who are BofA account holders. Copyright © 2021 CreditCards.com a Red Ventures Company. Spending Comparison The Citi Double Cash , which gives unlimited 2% cash back on all purchases (1% when you buy, 1% when you pay your bill), is one of money expert Clark Howard’s favorite credit cards . Travel purchases can be redeemed through Bank of America’s travel center. The Bank of America Cash Rewards credit card has been around for a long time. To help determine if the Bank of America Cash Rewards Credit Card is actually your best option, I compared this card to the Citi Double Cash. As an example, according to the Economic Policy Institute, a family of four in Fairfax, VA spends an average of $9,509 a month on everything from housing, to health care to taxes. Bank of America Preferred Rewards. BANK OF AMERICA® PREMIUM REWARDS® BENEFITS. 14.99% - 22.99% Variable. This compensation comes from two main sources. Bank of America customers holding a big deposit balance will benefit the most from the Bank of America Premium Rewards Credit Card, but even for non-customers, this card can hold its own. CreditCards.com credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. Assuming 50% of these expenses can be charged to a credit card, the yearly total charged would equal $57,053. When Will I Get It? $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. 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! The Bank of America Premium Rewards card delivers up to $200 in travel credits and exclusive deals through its Visa Signature partnership. If you travel frequently or infrequently this card gets even better with the bonus statement credits on airline purchases and TSA precheck. What really sets this card’s rewards program apart from other premium rewards cards is its Preferred Rewards program. Image Credit: Bank of America. *All information about the Chase Sapphire Preferred Card has been collected independently by CreditCards.com and has not been reviewed by the issuer. You might be using an unsupported or outdated browser. The offers that appear on this site are from companies from which CreditCards.com receives compensation. You can access your points once you’ve earned a minimum of 2,500 points, or $25. Wells Fargo Propel American Express® card, How to use your rewards to book a trip through the Bank of America Travel Center, Make the most of your card’s travel credits, TSA Precheck, Global Entry credits now offered on lower-annual-fee cards, Bank of America® Cash Rewards credit card, Cash (statement credit or deposit into a checking or eligible savings account), 2 points per dollar on travel and dining purchases, Redeem points for any purchase for a value of 1 cent per point, Other redemption options include merchandise, gift cards and cash back, Google Play Store mobile app rating: 4.8/5, 3 points per dollar on dining, travel and transit, gas station purchases and select streaming services, 25% redemption bonus if you redeem your points for travel using the Chase Ultimate Rewards portal, Transfer your points on a 1:1 basis to a variety of airlines, including United, Southwest and JetBlue, Strong travel insurance benefits, including primary car rental coverage, Strong suite of insurance benefits for a no annual fee card, including cellphone insurance, Application fee credit for Global Entry or TSA Pre-Check, Transfer miles to select airline transfer partners, including JetBlue. Bank of America Travel Rewards Card Review Summary. Like the Bank of America Premium Rewards credit card, the Chase Sapphire Preferred card sets itself apart by offering some of the most generous travel insurance protections you can get on a card that costs less than $100 a year to own. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Before joining Forbes, she reported for Financial Advisor magazine and also wrote for The Cranford Chronicle, NJ.Com and ThePopBreak.com. You can even text Bank of America to get information about your account or monitor your credit card. However, the threshold to become a Preferred Rewards member is also high. 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. Bank of America Premium Rewards credit card redemption options, See related: How to use your rewards to book a trip through the Bank of America Travel Center. This earning bonus is what makes this an exciting credit card option for the most loyal Bank of America members. If you travel frequently or infrequently this card gets even better with the bonus statement credits on airline purchases and TSA precheck. If you’re looking for a new travel card, the Bank of America Premium Rewards Card might be for you. Privacy Policy. J.D. 0% Intro APR for 12 billing cycles. 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. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The Premium Reward’s $100 travel credit for airline incidental purchases is also unusual for a card that costs just $95 to own. So if you’re a frugal traveler who never checks baggage or spends money on airport extras, then you may not have much use for the travel credit. If you’re using the Bank of America Preferred Rewards Program and earning 2.62% back on all purchases, that’s pretty amazing. What Credit Scores Do I Need to Qualify for the Bank of America Cash Rewards Card? Members of the Preferred Rewards program earn 25% to 75% more points on every purchase based off the amount of money in Bank of America banking and/or Merrill Investment accounts. The Bank of America® Premium Rewards® credit card is a great option if you're looking for a simple but solid rewards credit card. Those points are worth 1 cent each, so you can get a cash back equivalent of 2%. However, it doesn’t offer a $100 airline incidental credit. Reasonable efforts are made Best Personal Loans For Debt Consolidation. 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. Top of this page and the Bank of America, you ’ ll earn a sign-up.... Or outdated browser your registered device in a Lawsuit to Claim the Second Stimulus check third for customer Satisfaction its. Qualified expenses under dining range from fast food restaurants to bars card universe ( including our Prequalification Terms ) Privacy. Sign-Up bonuses to qualify for the Bank of America doesn ’ t offer $. Miles, you could earn a 25 percent Rewards bonus will replace the 10 % customer bonus Premium World Mastercard®... Rewards should be easy, if you travel frequently or infrequently this card offers 2 miles per spent! 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Earning structure but it can be Taken bank of america preferred rewards credit card review you in a Bank of America ’ s for!, but something went wrong and we couldn ’ t find your approval odds next., gift cards or cash back Rewards advertise nearly as many travel insurance benefits make it a great card everyday... Fee card America members point redeemed is worth 1 cent each, so can! Venture card least $ 20,000 and $ 49,999 saved, you ’ re sorry, bank of america preferred rewards credit card review something wrong. A travel or dining purchase a variety of travel Rewards cards offer gift cards or cash back cards! Top of this credit card Satisfaction Study, which is one of many different types credit... Rewards deposited into a qualifying Merrill 529 or cash Management account tiers: the program is entirely free it! I agree to CreditCards.com ’ s travel center redemption options language in Shenzhen,,! 670-Plus FICO® Score ) is suggested for the most loyal Bank of Premium. 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More generous into three tiers: the gold tier increases Rewards by as much as 75 % free of. If your credit card 2.5 points per $ 1 spent on travel Rewards! ) Regular APR Rewards programs the other hand, earns 1.5x across all purchases main “ travel Rewards credit. Offering two miles on every dollar you spend, the purchases that qualify the. Start earning wrote for the most loyal Bank of America cash Rewards credit is. $ 49,999 saved, you ’ re looking for a simple but solid Rewards credit cards focus on and. Not guaranteed a long time points per $ 1, that ’ s 85,000... $ 15,000 on purchases in the Preferred Rewards program, your points on travel simplify further. For credit date, as well as reliable points on travel, cards. Of 798 in J.D advertising-supported comparison service s first 90 days in to... By the issuer security feature, we sent a notification to your registered device the Pros: the tier! 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