Bank of America® Premium Rewards®

If you would like a horrible credit card with even worse customer service then this card is for you. This company has the worst customer service that I've ever dealt with and I was a card holder for over 16 years. I paid my card off and they indicated they didn't have my social security number after a 16 year card holding time frame. I filled out their form as requested and returned it in their envelope.. They cancelled my card as they said I did not return the form but get this, they did NOT send a letter to inform me that my card was cancelled..After three calls I finally got a lady who said they left me a voicemail to inform me they cancelled my card after 16 years. No voicemail...What a pathetic joke of a company. If you are unfortunate enough to select this card may God have mercy on your soul.

The cash bonus on this card is amazing, I qualify for the 75% bonus. Four months ago I tried to claim a trip cancellation claim and the 3rd vendor that Bank of America uses and I get transferred to says that my card does not cover trip cancellation. Call back to Bank of America and they say they have issues with their databases linking with the 3rd party. I understand that could happen but after 4 months it should be fixed.

This is strictly when comparing the Bank of America Travel Rewards (Blue Card) and the Bank of America Premium Rewards (Grey Card). I currently own the blue card and have been reaping the rewards for the last several years. Recently the grey card has come into my scope so I started crunching the numbers. At the end of the day, the grey card will give you 0.5% more back on travel purchases over the blue card. This comes at a cost of $95/year. To make up for that annual fee, you would need to spend $19,000/year on qualifying travel purchases. However, signing up for the grey card will get you a $500 credit, therefore, the first 5.25 years worth of annual fees could be covered by that bonus. *This doesn't account for the $100 credit for TSA/Airline fees. Just something for those already rocking the blue card to consider.

Annual fee is recovered for 5 years if you purchase $3000 in first 90 days. 

This card is the best simple rewards card, in my opinion. IF you can get to the 50% or 75% bonus level with Merrill account that is. Then you have an all around excellent card, 3.5% cash back on dining / travel, 2.6% on everything else, 0% foreign transaction fee, excellent ancillary benefits, reasonable annual fee (which can be offset), and extremely easy cashback redemptions.

Beside getting the $500 sign up bonus, since I am at the platinum tier, I will be getting another 50% extra bonus cash on the trip that I put on the card. So total I’m getting over $1000 back.

Please read the Terms of Benefits booklet that comes with your card. the $100 Travel Incidental credit will only work on the following airlines listed bellow.They list the following merchant category codes as qualifying:3000, 3001, 3057, 3058, 3063, 3066, 3132, 3174, 3196 or 32563000 – United.3001 – American Airlines.3057 – East/West Airline (Australia)3058 – Delta3063 – US Airways3066 – Southwest3132 – Frontier3174 – Jet Blue3196 – Hawaiin3256 – Alaskan

This card is a good option if one can swing a > $100k balance at MerrillEdge. I do this and hold the balance in Vanguard ETFs. If you can't swing the high balance, look towards Alliant's 2.5% CB card if your monthly spending is > $1,000. Otherwise get a Citi Double Cash. Note that with Citi's Double Cash it may be worth also looking into a Visa/MC with no annual fee and no foreign transaction fees for international travel (B of A Travel Rewards/Citi Costco Anywhere/Amazon Prime Visa).

I went on a trip expecting my 2 bag fees ($50 each) to be reimbursed with the $100 airline incidental credit but they are refusing to reimburse my money. They claim that the airline I traveled on does not qualify when they have never provided a list as to what airlines qualify and which don’t. I even researched their entire website and there is no list. Stay clear from this bad card that cheats you out of “entitled” benefits. P.S. I traveled with Spirit Airlines to Orlando.

I went on a trip expecting my 2 bag fees ($50 each) to be reimbursed with the $100 airline incidental credit but they are refusing to reimburse my money. They claim that the airline I traveled on does not qualify when they have never provided a list anywhere as to what airlines qualify and which don’t. I even researched their entire website and there is no list. Stay clear from this bad card that cheats you out of your “entitled” benefits. P.S. I traveled with Spirit Airlines to Orlando.

This is a great card if you keep high balances with BofA. If you have 100k or more with BofA or Merrill Lynch you get a 75% bonus on top of the standard rewards. So 1.5 with the 75% bonus you get 2.625 on everything! I also received a 500.00 start up bonus