It's definitely worth it but ONLY if you pay off the balance each month. The $50 companion fare is what makes it so worthwhile. My wife also opened her own account so we have two companion certificates each year, which we normally use on first class tickets.

I've had the card since right after they came out and have never had a problem with late postings of payments, although we typically pay the bill a day or two after receiving it. The only time we had a problem with the statement, customer service took care of it right away.

The only downside of the card is that BoA, like many other banks, gouge the card holder with the foreign transaction fee, tacking on an additional 2% on top of the normal 1% fee. Since we don't use the card much out of the US, this is more than balanced out by the miles and companion certificates.