3 Disadvantages Of Bank Of America Premium Rewards Card And How You Can Workaround It

If you are looking for an easy but secure rewards card, the Bank of America Premium rewards credit card is a good choice. You can get up to a 10% rebate off just about any purchase that you make with the card, including groceries and gasoline. If you are concerned that the rebates might not be significant enough to offset the cost of the card, you can find cards that offer annual fees, grace periods, and even lower annual percentage rates. Before you decide to apply for a Bank of America credit card, take a look at their requirements. Some cards may be easier to get than others.

The annual fee is very reasonable, particularly compared to other cards of this type. This will only cost you about $50 a year, on average. The bank's maximum value is still very high, though. You should consider whether the annual fee is worth the saving on the premium rewards card itself. Remember that transferring balances to this card is not free, either.

Even though you won't earn any actual cash back with the Bank of America Premium rewards card, you will still receive substantial savings because you will save on interest payments every year, as well as avoiding fees and penalties for ATM usage and balance transfers. For many people, earning reward miles is the most important benefit of earning a bank of America premium rewards card. You must remember that every point you earn is equal to one percent of your regular purchase total at the bank.

Another benefit of the bank of America rewards card is the emergency evacuation services. Travel delays and loss of luggage can create stress and major expenses. It is nice to know that the bank of America has such a plan in place for you. There are also direct flights from the airport where you are located to different parts of the world. If you have an American Express card, you can rest easy knowing that if you ever need to make an emergency evacuation due to a delay, you will be covered.

There is also another great benefit of having the bank of America premium rewards card. The Global Entry program allows people from around the world to apply for a card with a no annual fee and an almost limitless selection of participating banks. With this option, you can get a card from a number of countries including China, India, Mexico, and South Korea. If you ever need to travel to one of these countries, you will have no problem attaining an AMEX card with a global entry membership. You will be able to obtain credit in multiple countries and earn a cash bonus, as well.

Along with the emergency evacuation services, you also get the option of earning rewards points with the bank of America premium cardholder benefits. The best way to do this is by opening a preferred checking account. This means you are allowed to have a checking account even if you currently have a savings account. You are also allowed to have free transactions made with your preferred credit card or debit card at participating merchants. These free transactions include both purchases and cash withdrawals.

You can earn as much as two percent on the money you spend each month with the bank of America premium rewards card. There are a number of ways you can earn reward points with the bank of America preferred rewards program. The first way is through having the most amount of money in any one preferred category. Other preferred reward categories include gas purchases, home rental, and airline tickets. You can earn reward points in these areas for every dollar you have in your preferred amounts.

An additional feature of the bank of America premium rewards credit card is the ability to earn additional bonuses depending on the amount of the balance you have in your preferred credit card account. If you have a balance in excess of ten thousand dollars, you will be able to receive an additional four hundred dollars back just for making purchases with your card. There are a variety of different restaurants that offer dining options through this particular bank, all of which are ranked highly in customer satisfaction. In addition, you can choose between a variety of different dining establishments in the bonus categories of dining experience, value added dining experiences, and personal preferences dining experiences.

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