The new Bank of America® Premium Rewards credit card is now taking applications on select websites, including NerdWallet.
This card earns 2 points per dollar spent on travel and dining and 1.5 points per dollar on all other purchases. Points are worth 1 cent apiece no matter how you redeem them — for travel, statement credit, gift cards or a deposit to your Bank of America® or Merrill Lynch® account.
Use the full travel credit, and this card effectively pays you $5 a year to carry it.
Cardholders get an annual credit of up to $100 to cover incidental airline fees, such as checked bags, seat upgrades, lounge passes and in-flight food, beverages and entertainment. Use the full credit every year, and this card effectively pays you $5 a year to carry it. Plus, every four years, you can get a reimbursement of up to $100 for the application fee for Global Entry or TSA PreCheck.
There’s a hefty sign-up bonus to get you started off right: 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. And like any good travel card, it doesn’t charge foreign transaction fees.