Bank of America Premium Rewards
FM Mini Review: This card has best-in-class earnings for those with $100K+ invested with BOA. With that level of investment, you would earn 3.5X travel & dining and 2.62X everywhere else.
Card Type: Visa Signature
Earning rate: ⚬ 2X travel and dining ⚬ 1.5X everywhere else
Noteworthy perks: ⚬ $100 annual airline incidentals fee reimbursement ⚬ $100 Airport Security Statement Credit towards TSA Pre✓ ® or Global Entry Application fee, every four years ⚬ Up to 75% bonus for Preferred Rewards banking customers
Application Tips
Bank of America Application Tips
- 3/12 or 7/12 Rule: You won't be approved if you have opened 3 or more accounts, with any bank, in the past 12 months. For those with Bank of America deposit accounts, the rule changes to 7+ accounts.
- 2/3/4 Rule: Max 2 consumer cards per rolling 2 months, 3 per rolling 12 months, and 4 per rolling 24 months.
- 5 card limit: You will not get approved for a new consumer card if you already have 5 consumer BOA cards open
- Get Same Card Again: With some BOA cards, must wait 24 months after either opening or cancelling, depending upon the card.
- Hard inquiries are usually combined into 1 when initiated within 30 days but there have been reports of TransUnion not combining.
Click here to check your application status
If denied, call reconsideration here: 800-354-0401 (8am-7pm ET Mon-Fri); 866-695-6598 (business cards); |
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Other than the (rather meager) sign-up bonus, what are the costs and pros/cons to having spouse as an additional card member vs. having her own? Probably going to this card for everyday spend fairly soon, but seems like a pain to have to buy airline tickets separately to trigger the fee reimbursement. Not an issue for the platinum level for both of us, but like to keep things as simple as possible.
Greg or Nick, IIRC you both carry this in your wallet :-). Do you have a suggestion on when I should apply for this Premium Rewards card relative to when I open and fund a Merrill account to enter the Preferred Rewards program? Just yesterday I opened a Merrill account and triggered a transfer of an IRA to start the process. So today my balance is $0 and within a week or two I should have a $100K+ balance in my account. If I read the info correctly, I need a 90-day average balance of $100K to qualify for Platinum. So if I want my SUB spend to be at the increased Platinum rate, I should probably wait a couple months before applying for this CC. Am I thinking about this correctly?
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Will a combination of Personal & Business accounts at BoA count towards the $50K Premium bonus?
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