Apr 20, 2018, 10:05 am
BofA Premium Rewards card
Aug 27, 2020, 2:13 pm
#481
Join Date: Jan 2020
Programs: Jetblue, Turkish, Hilton Gold, Spirit Gold
Posts: 417
Better return on BofA no AF cards
I got a 50k points offer in online banking for this card last week, but having already 3 no AF cards from BofA, this card is not worth applying. I am platinum honors rewards and only carry 2 of 3 cards on me
1. Cash rewards Visa: 5.25% for dining and 3% occasional groceries paid at register with card.
2. Travel rewards: 2.625% anything non bonus and overseas spending.
3. Cash rewards MasterCard (kept in drawer) 5.25% for online shopping and groceries using Publix or Walmart app.
1. Cash rewards Visa: 5.25% for dining and 3% occasional groceries paid at register with card.
2. Travel rewards: 2.625% anything non bonus and overseas spending.
3. Cash rewards MasterCard (kept in drawer) 5.25% for online shopping and groceries using Publix or Walmart app.
Aug 28, 2020, 6:02 am
#482
Join Date: Jul 2017
Posts: 95
8/12 - Grocery purchase
8/14 - Charge posted
8/24 - Statement close
8/27 - $50 credited
Aug 28, 2020, 7:18 am
#484
Join Date: Aug 2008
Location: SAF
Programs: HH Gold, IHG Gold
Posts: 674
'Worth applying' has more to consider. It appears you are using an overall strategy of cash back. WIth the current offer, you are essentially getting a $405 bonus (500 less annual fee) after using the card to meet the minimum spend that would even earn at the same rate for everyday spend that you are getting already so you aren't even losing anything. It is not uncommon in these parts to find people that sign up for credit cards mainly for the bonus with the full intention of cancelling before they would pay an annual fee the next year. Seems like not much work for a free $405 (assuming you are responsible with the rest of your credit, etc.).
Last edited by G2244; Aug 28, 2020 at 7:24 am
Aug 28, 2020, 7:48 am
#485
Join Date: Jan 2019
Posts: 83
'Worth applying' has more to consider. It appears you are using an overall strategy of cash back. WIth the current offer, you are essentially getting a $500 bonus after using the card to meet the minimum spend that would even earn at the same rate for everyday spend that you are getting already so you aren't even losing anything. It is not uncommon in these parts to find people that sign up for credit cards mainly for the bonus with the full intention of cancelling before they would pay an annual fee the next year. Seems like not much work for a free $500 (assuming you are responsible with the rest of your credit, etc.).
Aug 28, 2020, 9:20 am
#486
Join Date: Jan 2003
Posts: 3,782
Anyone else uses this card for Costco shopping? If I use the Costco credit card, I get 2%. If I use this card, I get 2.625%. It doesn't sound like a lot but considered that I spent about $250 each trip to Costco and 2x a month, the extra .625% could almost cover 50% of the $95 annual fee.
Aug 28, 2020, 9:27 am
#487
Join Date: Jan 2014
Posts: 286
Anyone else uses this card for Costco shopping? If I use the Costco credit card, I get 2%. If I use this card, I get 2.625%. It doesn't sound like a lot but considered that I spent about $250 each trip to Costco and 2x a month, the extra .625% could almost cover 50% of the $95 annual fee.
Aug 28, 2020, 9:33 am
#488
Join Date: Jan 2003
Posts: 3,782
EDIT: Oh I just realized that it is only 4.5% if you redeem for travel, not 4.5% cash back. I think I am good on the travel front...rather have cash back and 3% is not much more than 2.625.
Last edited by Need; Aug 28, 2020 at 9:55 am
Aug 28, 2020, 10:02 am
#489
A FlyerTalk Posting Legend
Join Date: Jul 2003
Location: Yiron, Israel
Programs: Bates Motel Plat
Posts: 68,913
The big advantage of Premium Rewards Card over Travel Rewards is that you do not have to travel to cash in. I realize that this is a travel bulletin board and this won't matter for most posters but when you get to a certain age, and/or you have physical conditions which stop you from traveling, the Travel Rewards Card becomes worthless to you.
Aug 28, 2020, 10:55 am
#490
Join Date: Sep 2003
Posts: 263
Anyone else uses this card for Costco shopping? If I use the Costco credit card, I get 2%. If I use this card, I get 2.625%. It doesn't sound like a lot but considered that I spent about $250 each trip to Costco and 2x a month, the extra .625% could almost cover 50% of the $95 annual fee.
notes:
- this is limited to $2500 per quarter
- still use an actual CC for important purchases, like electronics
- if you forget/run out of the costco GC, using the bofa cash card in person at costco still gets 3.5% cash back
- assumes your are platinum honors getting the 75% boost
Aug 28, 2020, 11:03 am
#491
Original Poster
Join Date: Jun 2008
Location: BAY AREA
Posts: 1,125
I need to look into that. I thought I did and you have to be an US bank customer or something like that to apply which I am not. 4.5% is amazing though as now I pretty much always use my phone to pay everywhere.
EDIT: Oh I just realized that it is only 4.5% if you redeem for travel, not 4.5% cash back. I think I am good on the travel front...rather have cash back and 3% is not much more than 2.625.
EDIT: Oh I just realized that it is only 4.5% if you redeem for travel, not 4.5% cash back. I think I am good on the travel front...rather have cash back and 3% is not much more than 2.625.
Aug 29, 2020, 2:04 pm
#492
Join Date: Jan 2014
Posts: 286
I need to look into that. I thought I did and you have to be an US bank customer or something like that to apply which I am not. 4.5% is amazing though as now I pretty much always use my phone to pay everywhere.
EDIT: Oh I just realized that it is only 4.5% if you redeem for travel, not 4.5% cash back. I think I am good on the travel front...rather have cash back and 3% is not much more than 2.625.
EDIT: Oh I just realized that it is only 4.5% if you redeem for travel, not 4.5% cash back. I think I am good on the travel front...rather have cash back and 3% is not much more than 2.625.
Aug 29, 2020, 2:46 pm
#493
Original Poster
Join Date: Jun 2008
Location: BAY AREA
Posts: 1,125
I think this loophole will eventually go away after us Bank will refresh the card. It's due for an update. If the new refresh is bad, I'll start using my BofA premium card for Apple pay
Aug 31, 2020, 1:38 pm
#495
Join Date: Jan 2005
Location: If only I knew
Programs: Several of my own making in which I was recently fast-tracked to super-duper-über-elite status
Posts: 1,074
Finally got my $50 dining credit on 8/27.
Charges:
7/21 $35.51
7/24 $46.88 (bakery, which is supposed to qualify but I have a feeling they didn't count it).
8/10 $13.79
8/14 $2.16
8/24 $3.26
Charges:
7/21 $35.51
7/24 $46.88 (bakery, which is supposed to qualify but I have a feeling they didn't count it).
8/10 $13.79
8/14 $2.16
8/24 $3.26
