May this be your subsequent premium journey card?

The Financial institution of America® Premium Rewards® Elite Credit score Card is a premium for vacationers who need flexibility in redeeming rewards for any airline or lodge. Whereas it has a premium annual charge ($550), its annual credit and lounge advantages may help offset it. Moreover, prospects with larger deposit and funding balances can earn as much as 75% extra factors on each buy.

You’ll be able to earn the welcome bonus as a brand new cardholder, however you’ll should depend on the rewards price for continued incomes. The Financial institution of America Premium Rewards Elite has elevated spending classes for journey and eating, making this an honest card for vacationers and foodies. You even have an above-average base incomes price in case your typical spending doesn’t align with the bonus classes.

You’ll be able to earn much more as a Financial institution of America Most well-liked Rewards member, however it’s a must to calculate whether or not incomes 25% to 75% extra on purchases is price storing cash with the accessible Financial institution of America deposit and Merrill funding accounts.

To qualify for the bottom tier of the Most well-liked Rewards program, you would want not less than a $20,000 three-month mixed common each day steadiness in these accounts. This may unlock a 25% factors bonus in your card.

The factors earned from the Financial institution of America Premium Rewards Elite don’t expire, so there’s no urgency to redeem them. Clients can redeem factors for journey, money again, assertion credit, experiences, or reward playing cards.

Keep in mind, you’ll get 20% financial savings when utilizing factors to e-book home or worldwide airfare.

The Financial institution of America Premium Rewards Elite is loaded with premium advantages and annual credit. Whereas the cardboard has a big annual charge, these advantages assist to justify or offset the fee.

You’ll be able to stand up to $300 in assertion credit yearly for airline incidental expenses, resembling seat upgrades, baggage charges, airline lounge charges, and in-flight companies. These credit don’t apply to airfare.

This credit score covers a wide range of way of life subscriptions and expenses, like video streaming companies, health subscriptions, meals supply, and rideshares.

Cost the applying charge for TSA PreCheck or World Entry to your card to be reimbursed as much as $100 as soon as each 4 years.

This card consists of free limitless entry to the Precedence Cross airport lounge community, the place you may take pleasure in complimentary drinks, meals, WiFi, and extra, relying on the lounge. Cardholders stand up to 4 complimentary Precedence Cross Choose memberships, so you may share these advantages along with your family and friends.

The Financial institution of America Premium Rewards Elite is finest fitted to frequent vacationers who could make use of the cardboard’s annual credit, airport lounge entry, and journey protections. For those who don’t use the cardboard’s credit for eligible purchases, then the credit go away with out receiving any profit.

Moreover, prospects with bigger deposit and funding balances will obtain as much as 75% extra factors on each buy. These further rewards on your spending may help justify the cardboard’s hefty annual charge and construct up a considerable amount of rewards.

• As much as $450 in annual credit for eligible airline expenses and way of life purchases

• As much as $100 TSA PreCheck or World Entry reimbursement each 4 years

• As much as 4 complimentary Precedence Cross Choose memberships

• Earn as much as 75% extra rewards as a Most well-liked Rewards member

• No airline or lodge switch companions restrict the power to maximise the worth of rewards

• Excessive annual charge is difficult to justify for some prospects

• Restricted bonus classes to earn further factors on purchases

As a Visa Infinite Card, the Financial institution of America Premium Rewards Elite Credit score Card can be utilized wherever retailers settle for Visa playing cards for fee. Visa and Mastercard are the dominant bank card processors throughout the U.S. and overseas, so you shouldn’t have any hassle utilizing this card whereas touring domestically or internationally. The cardboard additionally waives international transaction charges, making it a superb alternative for spending exterior the U.S.

• On-line at

• Via the financial institution’s cell app (, )

• Computerized recurring funds

• In-person at roughly 3,700 Financial institution of America branches and 15,000 ATMs ()

• Calling customer support at (800) 236-6497

• Mailing funds to PO Field 15019, Wilmington, DE 19850-5019

• In a single day supply to Financial institution of America, Attn: Cost Processing, DE5-023-03-02, 900 Samoset Drive, Newark, DE 19713

Whereas the Financial institution of America Premium Rewards Elite has many interesting options, it is not one of the best card for each buyer. One among its main shortcomings as a luxurious bank card is that there aren’t any switch companions accessible to maximise the worth of your rewards. If it doesn’t appear to be the proper match for you, think about these different journey bank cards.

Why we prefer it: Whereas not a premium card, the is without doubt one of the hottest journey bank cards for good purpose. It has a low $95 annual charge, so there’s a lot much less to fret about when making an attempt to offset the cardmember value annually. As well as, you may earn versatile Chase Final Rewards factors that may be transferred to over 12 airline and lodge loyalty program companions.

Why we prefer it: The earns versatile rewards that may be redeemed in numerous methods, resembling transferring them to over 15 journey companions. The Enterprise X can be engaging due to its simple advantages that may simply assist offset the annual charge annually. These embrace an annual $300 journey credit score for bookings made by way of Capital One Journey and 10,000 bonus miles annually beginning in your first anniversary.

Why we prefer it: One of the vital in style premium journey bank cards is the . This card consists of an annual credit score of $300 that robotically applies to any eligible journey buy, plus airport lounge entry, premium journey protections, and extra. Its factors have quite a few redemption choices, together with transferring to over 12 airline and lodge companions or getting 50% extra worth when reserving journey by way of Chase Journey℠.

This text was edited by Ben Walker (CEPF, CFEI®)

Editorial Disclosure: The knowledge on this article has not been reviewed or accredited by any advertiser. All opinions belong solely to Yahoo Finance and should not these of every other entity. The main points on monetary merchandise, together with card charges and charges, are correct as of the publish date. All services or products are offered with out guarantee. Verify the financial institution’s web site for essentially the most present data. This web site does not embrace all at present accessible gives. Credit score rating alone doesn’t assure or indicate approval for any monetary product.