When you have your sights set on touring extra this yr or need flight upgrades with out hurting your pockets, the Financial institution of America® Premium Rewards® bank card may also help.

To start out, you’ll be able to earn 50,000 on-line bonus factors — a $500 worth welcome bonus — if you spend $3,000 within the first 90 days of opening an account. This rewards card has a $95 annual price like its fundamental rivals, however presents barely decrease rewards charges. However its boosted rewards program and extra journey credit are engaging incentives which will make it match to your pockets.

Here is what the Financial institution of America® Premium Rewards® bank card has to supply and the way it stacks up in opposition to different rewards bank cards. 

On this article

• Rewards and redemption​
• Welcome supply​
• Intro APR​
• Different perks​
• Comparable playing cards​
• FAQs​

Rewards and redemption

With the Financial institution of America Premium Rewards bank card, you will earn 2X factors on journey and eating and 1.5X factors for all different purchases with no spending caps. In case you join Financial institution of America’s Most popular Rewards program, you’ll be able to earn 25% to 75% further in rewards. 

You possibly can redeem your factors towards reward playing cards and purchases from the Financial institution of America Journey Heart. Or you’ll be able to select an announcement credit score, get a deposit into your Financial institution of America checking or financial savings account or have rewards despatched to an eligible Merrill funding account — often value $0.01 per level. There are no blackout dates or restrictions when incomes or redeeming your factors. 

Relying in your journey preferences, the Premium Rewards bank card is usually a good match to your pockets, however if you wish to earn extra rewards on journey and eating with out maintaining monitor of an extra rewards program, like Financial institution of America, different rewards bank cards could supply higher rewards and perks for a similar annual price, such because the Chase Sapphire Most popular® Card. 

Welcome supply 

The Premium Rewards bank card has a beneficiant welcome bonus of 50,000 on-line bonus factors if you spend at the least $3,000 in purchases throughout the first 90 days of account opening (roughly $1,000 every month.) For context, 50,000 factors is value $500. This welcome bonus is on par with different comparable rewards playing cards, though some card issuers supply a better welcome bonus in case you spend extra. 

Intro APR 

The Financial institution of America Premium Rewards doesn’t have a 0% introductory APR for brand new purchases or stability transfers. The cardboard has a variable APR of 20.24% to 27.24% and a 3% stability switch price (minimal $10). 

In case you’re planning an even bigger buy and need to house out the funds or have to switch a stability with out paying curiosity for just a few months, another choice just like the Wells Fargo Mirror® Card for stability transfers and the Chase Slate Edge℠ could also be higher.

Different perks 

Although the cardboard has a $95 annual price, the as much as $200 in journey assertion credit can offset this price. Here is what you will get: 

• As much as $100 in airline incidental assertion credit: The credit score can cowl seat upgrades, baggage charges, in-flight companies and airline lounge charges. The funds are mechanically utilized to your card’s assertion yearly. 
• As much as $100 in airport safety assertion credit: This can be utilized towards TSA PreCheck® or World Entry utility charges each 4 years. 

Different cardholder perks embrace: 

• Journey insurance coverage protections in case of journey delays, cancellations, misplaced baggage and extra
• Buy safety for as much as 90 days on new purchases (as much as $10,000 per declare) 
• Visa Signature® Luxurious Resort Assortment advantages, together with room upgrades (when accessible), complimentary in-room Wi-Fi (when accessible) and VIP visitor standing
• Visa Signature® concierge service
• 24/7 roadside help

Comparable playing cards 

Chase Sapphire Most popular® Card

In case you’re a frequent traveler or dine out usually, the Chase Sapphire Most popular® Card could fit your spending habits higher than the Financial institution of America Premium Rewards card. The Sapphire Most popular presents 5X factors on journey booked via Chase Final Rewards® and 3X factors on eating at eating places, together with eligible supply companies, takeout and eating out — a better charge than the Financial institution of America Premium Rewards card. You will additionally earn 3X factors on on-line grocery purchases (excluding Goal, Walmart and wholesale golf equipment) and choose streaming companies, 2X factors on different journey purchases and 1X factors on all different purchases. 

The welcome bonus can also be barely larger. You possibly can earn 60,000 factors in case you spend $4,000 throughout the first three months of account opening, in comparison with the 50,000 on-line bonus factors after spending $3,000 in purchases within the first 90 days of account opening the Premium Rewards card presents. For a restricted time, the Chase Sapphire Most popular additionally presents 5X factors on Lyft rides (via March 31, 2025). 

The Sapphire Most popular card presents as much as $50 in assertion credit yearly for resort stays booked via the Chase rewards portal. It additionally presents comparable journey perks, in addition to buy safety, however its buy safety has a smaller threshold per declare than the Premium Rewards Card. Each have the identical annual price — $95 — however the Chase card additionally comes with a complimentary six-month Instacart+ subscription (activate by July 31, 2024), one yr of DashPass (activate by December 31, 2024) and a $10 month-to-month assertion credit score from GoPuff (via December 31, 2023). 

Capital One Enterprise Rewards Credit score Card 

The Capital One Enterprise Rewards Credit score Card* is one other good selection in case you’re planning just a few journeys this yr. Just like the Sapphire Most popular, you will earn 5X miles on accommodations and rental vehicles booked via Capital One Journey. With the Enterprise Rewards card, you will additionally earn limitless 2X miles on all different purchases and 5X miles if you ebook a automotive via Turo till Might 16, 2023. 

The cardboard has a 75,000-mile welcome bonus if you spend $4,000 throughout the first three months, requiring you to spend greater than the Premium Rewards card, in trade for a better welcome bonus. Then, you’ll be able to redeem your miles for merchandise, together with Amazon.com purchases and PayPal, miles for journey via Capital One Journey or be reimbursed for previous journey bills. Just like the Financial institution of America Premium Rewards card, the Enterprise Rewards card additionally has a $95 annual price, presents as much as a $100 assertion credit score you should use in the direction of World Entry or TSA PreCheck and good to glorious credit score is really useful for approval. 

Although the Premium Rewards card comes with as much as $100 in airline incidental assertion credit yearly, the Enterprise Rewards Card has just a few different particular perks to improve your highway journey or flight. You will get two free visits to Capital One Lounges or associate lounges per yr, automated Hertz 5 Star standing and entry to Capital One Leisure, which incorporates presale tickets, and unique entry to sports activities, eating and extra.

FAQs

*All details about the Capital One Enterprise Rewards Credit score Card has been collected independently by CNET and has not been reviewed by the issuer.

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