With this Premium Rewards credit card, cardholders earn two points for each USD spent on travel and dining purchases and 1.5 points for each USD spent on all other purchases. For users who are also enrolled in the bank’s Preferred Rewards program rewards, points can increase by 25 to 75% on each purchase, up to 3.5 points per USD spent on travel and dining purchases and 2.62 points per USD on everything else. There is no limit or expiration on points.
The card also offers a wide choice of redemption options that include cash back as a statement credit or deposit into eligible Bank of America or Merrill Lynch accounts (including deposit, investment or 529 accounts), travel purchases (air, car and hotel) through the Bank of America Travel Center, or gift cards. The redemption value of points is 1% (2,500 points equals USD 25, whether for cash back, travel or gift cards).
Other features include: up to USD 100 annual airline incidental statement credit for qualifying travel purchases, up to USD 100 airport security statement credit towards TSA-Precheck or Global Entry Application fee (every four years), access to Visa’s Signature Luxury Hotel Collection, Visa Signature Concierge service for assistance with travel planning, restaurant recommendations and event reservations, and an annual fee of USD 95.
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