Bank of America is introducing a new offer for their Premium Rewards Elite Credit Card. The offer includes a bonus of 75,000 online points, which is equivalent to a $750 value. You’ll need to make at least $5,000 in purchases in the first 90 days of account opening to earn the bonus.
Also, cardholders can get up to $550 in combined credits for Airline Incidental expenses, TSA PreCheck®/Global Entry fees, and Lifestyle Statement credits.
While the card has an annual fee of $550, it does not charge foreign transaction fees.
READ MORE: SEE THIS SIGN UP BONUS FROM BANK OF AMERICA BEFORE IT’S GONE
Card Details
- Annual fee: $550
- Lifestyle statement credits: Up to $150 annually for various categories including streaming services, food delivery, fitness subscriptions, and rideshare services.
- Airline incidental statement credits: Up to $300 annually for qualifying purchases like seat upgrades, baggage fees, in-flight services, and airline lounge fees.
- Global Entry/TSA PreCheck credits: Up to $100 in statement credits for application fees every four years.
- Earnings: 2 points for every dollar spent on travel and dining, 1.5 points per dollar on all other purchases.
- Preferred Rewards bonus: Members earn 25% to 75% more points on every purchase, potentially up to 3.5 points on travel and dining, and up to 2.62 points on all other purchases.
- Points redemption: Can be used for travel, cash back, statement credit, unique experiences, or gift cards.
- 20% savings on airfare: Pay with points through Bank of America Travel Center or concierge and get 25% additional value.
- Priority Pass Select Membership: Access to Priority Pass airport lounges.
Bottom Line
This new offer of 75,000 points is a great improvement over the previous 50,000 points bonus that has been around since the card launched last year. The only catch is that now you have to spend $5,000 instead of $3,000 to qualify.
Although the card comes with a $550 annual fee, you can make up for it with the $300 airline credits and $150 lifestyle credits that can be used twice during the first year.
You can use the airline credits for things like AA gift cards or snagging cheap Southwest fares. If you value these credits at around $900, they can pretty much cancel out the annual fee, making this a pretty nice cash signup bonus offer.
We’ve added this to our list of the best credit card signup bonuses right now.
By the way, Bank of America has also increased the signup bonus for their Premium Rewards card from 50k to 60k.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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