Bank of america travel and premium rewards cards - Revision history

Editor: /* Getting Rid of the Card */

2021-07-20T18:40:31Z

‎Getting Rid of the Card

Editor: /* Using the Card for your Everyday Spending */

2021-07-20T18:39:21Z

‎Using the Card for your Everyday Spending

Editor: /* Collecting the Signup Bonus */

2021-07-20T18:35:43Z

‎Collecting the Signup Bonus

Editor: /* Bank of America Preferred Rewards Program */

2021-07-20T18:33:07Z

‎Bank of America Preferred Rewards Program

Editor: /* Bank of America Travel Reward Card Options */

2021-07-20T18:31:45Z

‎Bank of America Travel Reward Card Options

Editor at 18:00, 20 July 2021

2021-07-20T18:00:34Z

Editor at 17:59, 20 July 2021

2021-07-20T17:59:55Z

Editor at 21:01, 14 June 2021

2021-06-14T21:01:35Z

Editor at 20:57, 14 June 2021

2021-06-14T20:57:43Z

Editor at 06:36, 19 February 2021

2021-02-19T06:36:02Z

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 <li>'''If you cancel your card, you may not be able to easily get it back'''. Bank of America limits your ability to get more than 4 cards every 24 months and 3 cards every 12 months. And you can't get one of their cards if you've gotten more than 3 personal credit cards from any bank in the last 12 months (7 cards for BOA banking customers). If you are signing up for bunch of new credit cards, you won't be able to get new Bank of America cards. Furthermore, you explicitly can't sign up for the Premium Rewards Card if you've had it during the past 24 months.</li>
-If you aren't taking advantage of the enhanced rewards on travel purchases (because you have an even better option) or the annual airline incidental credit, you can convert your Premium Rewards card to the no-annual-fee Travel Rewards version and retain the same rewards rate on everyday purchase. </li>
+If you aren't taking advantage of the enhanced rewards on travel purchases (because you have an even better option) or the annual airline incidental credit, you can convert your Premium Rewards card to the no-annual-fee Unlimited Cash or Travel Rewards version and retain the same rewards rate on everyday purchase. </li>
-<li>'''Rather than cancelling your card, you may want to change it to the Cash Rewards Card'''. The Cash Rewards Card earns a base rate of 3% on your choice of categories, including online shopping. With Platinum Honors status, the reward rate is boosted to 5.25%. Since bonus rewards are capped for each quarter, it can be helpful to have multiple copies of the card. But the only way to currently get multiple copies is to convert from other Bank of America cards.</li>
+<li>'''Rather than cancelling your card, you may want to change it to the Cash Rewards Card''' (as opposed to the Unlimited Cash Rewards Card). The Cash Rewards Card earns a base rate of 3% on your choice of categories, including online shopping. With Platinum Honors status, the reward rate is boosted to 5.25%. Since bonus rewards are capped for each quarter, it can be helpful to have multiple copies of the card. But the only way to currently get multiple copies is to convert from other Bank of America cards.</li>
 <li>'''If you want to cancel your Premium Rewards Card, it is best to do so before you are charged your annual fee'''. Bank of America may refund the fee if you cancel shortly afterwards, but they may not.</li>

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 <ul class="bulletlist">
-<li>'''If you can move $100,000 in investment or retirement assets to Merrill Lynch, Bank of America Travel and or Premier Rewards Card offer the highest cashback rate of any card'''. With the 75% bonus from Platinum Honors Status, the base reward rate is boosted to 2.625%.</li>
+<li>'''If you can move $100,000 in investment or retirement assets to Merrill Lynch, Bank of America Unlimited Cash, Premium, and Travel Rewards Cards offer the highest ongoing cashback rate of any widely-available card'''. With the 75% bonus from Platinum Honors Status, the base reward rate is boosted to 2.625%.</li>
 <li>'''Otherwise, there are better cashback options'''. At the $50,000 level, the reward rate is only boosted to 2.25%, and at the $20,000 level, the reward rate is only boosted to 1.8%. You can earn more from other cards. {{Link|general purpose}}</li>
-<li>'''If you are willing to use your points for award travel, you can earn more valuable rewards from other cards'''. For example, Using 1.5x Ultimate Rewards points for Hyatt award nights is generally more valuable than 2.5% cashback, as is using 1.5-2x Membership Rewards points for frequent flyer tickets. As a result, the Alliant card is primarily for people who put a premium on actual cashback or who otherwise can't get enough value out of these other points currencies. {{Link|general purpose}}.</li>
+<li>'''If you are willing to use your points for award travel, you can earn more valuable rewards from other cards'''. For example, Using 1.5x Ultimate Rewards points for Hyatt award nights is generally more valuable than 2.5% cashback, as is using 1.5-2x Membership Rewards points for frequent flyer tickets. {{Link|general purpose}}.</li>
-<li>'''The Discover Card earns 3% back in the first year and can be easier to get than the Alliant Card'''. It is often possible to cycle through Discover Cards every year to sustain this 3% rate.</li>
+<li>'''The Discover Card earns 3% back in the first year'''. It is often possible to cycle through Discover Cards every year to sustain this 3% rate.</li>
-<li>'''The Bank of America cards come with return protection, extended warranty coverage, and protection for lost and stolen items, but don't include price protection''' (which rebates the difference if something you buy is available cheaper elsewhere during the first 60-90 days). {{Link|purchase protections}}.</li>
+<li>'''The Bank of America Premium Card comes with return protection, extended warranty coverage, and protection for lost and stolen items, but don't include price protection''' (which rebates the difference if something you buy is available cheaper elsewhere during the first 60-90 days). The Unlimited Cash and Travel Rewards CArds don't come with this features. This can be one of the reasons to pay the annual fee for the Premium Card (which can be potentially offset with the Airline Incidental Credit.  {{Link|purchase protections}}.</li>
 <li>'''If you want to use one of these cards as your general-purpose reward card, you need to decide whether you also want to use it for your travel and restaurant purchases'''. This Premium Rewards version gives you a 2% base rate on travel and restaurant purchases, which turns into 3.5% with the Platinum-level bonus. That's not bad, but you there are several other cards that provide higher rewards.  {{Link|Travel Spending}}. {{Link|Restaurant Spending}}.</li>
 </ul>

@@ Line 94: / Line 94: @@
 {{Signup Value|460|3000|95}} {{Signup Variable|airline incidental credit}}
-<li>'''The signup bonus on the regular Travel Rewards Card is a lot less interesting'''. The normal 20,000 point bonus is worth $200. Because you can only sign up for a total of four Bank of America credit cards every two years, you are usually better off focusing on cards that have more valuable signup offers. However, if you are interested in using this card as your general-purpose reward card, the signup bonus provides a nice additional bonus, especially considering the card has no annual fee.</li>
+<li>'''The signup bonus on the Unlimited Cash and Travel Rewards Cards are a lot less interesting'''. The normal 20,000 point bonus is worth $200. Because you can only sign up for a total of four Bank of America credit cards every two years, you are usually better off focusing on cards that have more valuable signup offers. However, if you are interested in using this card as your general-purpose reward card, the signup bonus provides a nice additional bonus, especially considering the card has no annual fee.</li>
-If there are other attractive Bank of America signup bonuses, you are better off applying for the Premium Rewards version. Even if you prefer the Travel Rewards version, you can collect the higher bonus from the Premium version and then convert it to the no-annual-fee Travel Rewards card, while preserving your other BOA slots for other cards. If you aren't interested in many other BOA bonuses, you should sign up for both the Premium and Travel versions and then cancel whichever one you don't want to hold onto.
+If there are other attractive Bank of America signup bonuses, you are better off applying for the Premium Rewards version. Even if you prefer the Unlimited Cash or Travel Rewards version, you can collect the higher bonus from the Premium version and then convert it to the no-annual-fee card at the end of the first year, while preserving your other BOA slots for other cards. If you aren't interested in many other BOA bonuses, you should sign up for multiple of these cards and then cancel whichever one you don't want to hold onto.
 <li>'''You may be able to earn the signup bonus on both the personal and business Travel Rewards Card'''. If you have any kind of business, you can get either or both of the personal or business cards. {{Link|Business Cards}}.</li>
-<li>'''There are restrictions to earning the signup bonuses multiple times'''. You aren't eligible for the Premium Rewards card if you've had the card in the last 24 months, and you aren't eligible for the Travel Rewards card if you already have the card, unless you've had it for at least 24 months. In other words, for the Premium Rewards card, you'll need to wait to reapply until 24 months after you cancel the card. For the Travel Rewards card you have two options. You can cancel and reapply for a new bonus or you can hold onto the card and get a new card every two years.</li>
+<li>'''There are restrictions to earning the signup bonuses multiple times'''. You aren't eligible for the Premium Rewards card if you've had the card in the last 24 months, and you aren't eligible for the Unlimited Cash or Travel Rewards Card if you already have the card, unless you've had it for at least 24 months. In other words, for the Premium Rewards card, you'll need to wait to reapply until 24 months after you cancel the card. For the Unlimited Cash and Travel Rewards Cards you have two options. You can cancel and reapply for a new bonus or you can hold onto the card and get a new card every two years.</li>
 The Business Travel Rewards Card isn't subject to any of the normal Bank of America restrictions.

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 {{Box|Using Your Points}}
-Points from the Travel Rewards card can be used to offset grocery, dining, and travel purchases. Points from the Premium Rewards card can be directly credited to your statement without needing to offset specific transactions. If you have both cards, you can transfer points from the Travel Rewards Card to the Premium Rewards Card for the slightly easier redemption option.
+Points from the Travel Rewards card can be used to offset grocery, dining, and travel purchases. Points from the Unlimited Cash and Premium Rewards Card can be directly credited to your statement without needing to offset specific transactions. If you multiple cards, you can transfer points from the Travel Rewards Card to the Premium Rewards Card for the easier redemption option.
 {{/Box}}

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-=== Bank of America Travel Reward Card Options ===
+=== Bank of America Options ===
-There are three Bank of America Travel and Premium Rewards credit cards, plus a student version of the Travel Reward card.
+There are four Bank of America credit cards that earn 1.5 to 2.625% back on everyday purchases, plus a student version of the Travel Reward card.
 {{List|Card}}
-{{CardItem|BOATravel|noguide}}
+{{CardItem|BOAUnlimited|noguide}}
-'''Travel Rewards'''. This main version has no annual fee. If this is the card you want, sign up for the Premium Rewards card instead, collect its much larger signup bonus, and then downgrade to the Travel Rewards card at the end of the first year. [//www.bankofamerica.com/credit-cards/products/bankamericard-travel-rewards-credit-card/ Bank of America Webpage].  [//www.uscreditcardguide.com/boa-travel-rewards-credit-card/#Historical_Offers_Chart Signup Bonus Chart].
+'''Unlimited Cash Rewards'''. The simplest version of the card has no annual fee and earns points that can be directly redeemed for statement credit. It typically has a 20,000 point signup offer. However, if this is the card you want, sign up for the Premium Rewards card instead, collect its much larger signup bonus, and then downgrade to the Unlimited Cash Card at the end of the first year. [//www.bankofamerica.com/credit-cards/products/unlimited-cash-back-credit-card/?campaign=4051617~W6~en_US Bank of America Webpage].
 {{CardItem|BOAPremium|noguide}}
-'''Premium Rewards'''. While it has a $95 annual fee, it has a much higher signup bonus, a higher reward rate on travel and restaurant spending, a $100 annual airline incidental credit, and the ability of redeem points directly for cash (as opposed to offsetting travel purchases). If you can take full advantage of the airline incidental credit, you get the extra benefits for free. But if you don't want to bother with the credit and already have a card that offers good travel and restaurants rewards, start with the Premium Rewards card and then downgrade it to the Travel Rewards card at the end of the first year. [//www.bankofamerica.com/credit-cards/products/premium-rewards-credit-card/ Bank of America Webpage]. [//www.uscreditcardguide.com/boa-premium-rewards-credit-card/#Historical_Offers_Chart Signup Bonus Chart].
+'''Premium Rewards'''. While it has a $95 annual fee, the Premium Card has a much higher signup bonus, a higher reward rate on travel and restaurant spending, a $100 annual airline incidental credit, better purchase protections, and no foreign transaction fee. If you can take full advantage of the airline incidental credit, you get the other extra benefits for free. But if you don't want to bother with the credit and already have a card that offers good travel and restaurants rewards, you are better off starting with this card (for its better signup bonus) and then downgrade to the Unlimited Cash or Travel Rewards Card at the end of the first year. [//www.bankofamerica.com/credit-cards/products/premium-rewards-credit-card/ Bank of America Webpage]. [//www.uscreditcardguide.com/boa-premium-rewards-credit-card/#Historical_Offers_Chart Signup Bonus Chart].
 {{CardItem|BOATravelBiz|noguide}}

@@ Line 43: / Line 43: @@
 </div>
-'''For anyone who can move $100,000 in investment or retirement assets to Merrill Lynch, these cards earn 2.625% cash back on all purchases and may be the best option for your general-purpose reward card'''.
+'''For anyone who can move $100,000 in investment or retirement assets to Merrill Lynch, each of these cards earn 2.625% cash back on all purchases and may be the best option for your general-purpose reward card'''.
-'''If you can't qualify for the higher reward rates, you'll probably want to use a different card for your everyday spending. But it is still worthwhile to get the Premium Rewards version for its valuable signup bonus and first-year travel credits'''.
+'''If you can't qualify for the higher reward rates, you probably want to use a different card for your everyday spending. But it is still worthwhile to get the Premium Rewards version for its valuable signup bonus and first-year travel credits'''.
 {{TOC|All}}

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-{{DISPLAYTITLE: Bank of America Travel and Premium Rewards Cards}}
+{{DISPLAYTITLE: Bank of America Unlimited Cash, Premium, and Travel Cards}}
 {{Page|card|BOA cards}}
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 </div>
-'''For anyone who can move $100,000 in investment or retirement assets to Merrill Lynch, this card, and its Premium Rewards sibling, earns 2.625% cash back on all purchases and may be the best option for your general-purpose reward card'''.
+'''For anyone who can move $100,000 in investment or retirement assets to Merrill Lynch, these cards earn 2.625% cash back on all purchases and may be the best option for your general-purpose reward card'''.
-'''If you can't qualify for the higher reward rates, you'll probably want to use a different card for your everyday spending. But it is still worthwhile to get the Premium Rewards version of this card for its valuable signup bonus and first-year travel credits'''.
+'''If you can't qualify for the higher reward rates, you'll probably want to use a different card for your everyday spending. But it is still worthwhile to get the Premium Rewards version for its valuable signup bonus and first-year travel credits'''.
 {{TOC|All}}

@@ Line 19: / Line 19: @@
 |CurrentOffer=Travel version of card has a 25,000 point bonus, instead of the normal 20,000 points.
-Business Travel version has a 30,000 point bonus, instead of the normal 25,000 points.
+Business Travel version has a 30,000 point bonus ($3,000 spend), instead of the normal 25,000 points ($1,000 spend).
 |CurrentSpend=
 |CurrentSpendCustom=

@@ Line 17: / Line 17: @@
 |Credit=
 |CreditValue=
-|CurrentOffer=Travel version of card has 25,000 point bonus, instead of normal 20,000 point bonus.
+|CurrentOffer=Travel version of card has a 25,000 point bonus, instead of the normal 20,000 points.
 |CurrentSpend=
 |CurrentSpendCustom=

← Older revision		Revision as of 06:36, 19 February 2021
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		+	{{DISPLAYTITLE: Bank of America Travel and Premium Rewards Cards}}
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