I am hoping to have some updated discussion here on this comparison as it appears some things may have changed with this AAA BoA card. First off, there is now no foreign transaction fee. Second, it now appears that the AAA card is calculating the BoA Preferred Rewards bonus the same way they do on their other BoA branded cards. From
their card page (bolding mine):
Bank of America Preferred Rewards members earn 25%-75% more points on every purchase.
That means the 3% on eligible travel and AAA purchases could go up to 5.25% and the 2% for gas, grocery store, wholesale club and drugstore purchases could go up to 3.5%, and the 1% for all other purchases could go up to 1.75%.
As I see it, for those of us focusing on cash back, this card is arguably better than even their their Premium Rewards card targeting travel where that gives 2% on travel. In addition the 2% back categories on this AAA card are not capped like they are with the Customized Cash Rewards card at $2500 per quarter. Am I missing something or is this AAA card a hidden gem?