Bank Of America Premium Rewards $100 Travel Credit
If you are a frequent traveler, Bank of America's Premium Rewards credit card is worth considering. The card comes with a host of travel perks, including a $100 travel credit that you can use to offset the cost of travel purchases. In this article, we will discuss the benefits of the Bank of America Premium Rewards $100 travel credit and how you can make the most of it.
What is Bank of America Premium Rewards Credit Card?
The Bank of America Premium Rewards credit card is a travel rewards credit card that offers a variety of benefits to cardholders. The card offers 2 points per dollar spent on travel and dining purchases and 1.5 points per dollar spent on all other purchases. Cardholders can redeem their points for cash back, travel, gift cards, and more.
The Bank of America Premium Rewards credit card has an annual fee of $95. However, the card offers several travel benefits that can offset the annual fee. These benefits include a $100 airline incidental statement credit, priority boarding, and travel and emergency assistance services.
How Does the $100 Travel Credit Work?
The $100 travel credit is one of the most valuable benefits of the Bank of America Premium Rewards credit card. This credit can be used to offset the cost of travel purchases, including airline fees, baggage fees, and seat upgrades.
To use the travel credit, you need to make a qualifying travel purchase with your Bank of America Premium Rewards credit card. Once the purchase is made, the $100 credit will be applied to your account within 7-10 business days. The credit will appear on your statement as a "Travel Credit".
It is important to note that the travel credit can only be used for one purchase. Once you have used the credit, you will not be able to use it again until your next card anniversary date.
How to Maximize Your $100 Travel Credit
To make the most of your $100 travel credit, you need to use it wisely. Here are some tips on how to maximize your credit:
1. Use the Credit for Airline Incidental Fees
The Bank of America Premium Rewards credit card allows you to use the $100 travel credit for airline incidental fees, such as baggage fees, seat upgrades, and in-flight services. If you frequently fly with a specific airline, it is recommended that you use the credit for these expenses to save money.
2. Use the Credit for Hotel Charges
In addition to airline incidental fees, you can also use the $100 travel credit for hotel charges, such as room service or spa treatments. This is a great way to offset the cost of luxury hotel experiences.
3. Use the Credit for Rental Car Expenses
If you rent cars frequently, you can use the $100 travel credit for rental car expenses. This includes charges such as GPS rentals, insurance, and fuel charges.
4. Plan Your Travel Budget Around the Credit
To maximize the value of the $100 travel credit, it is recommended that you plan your travel budget around the credit. This means that you should try to make a qualifying travel purchase that is close to the $100 credit amount. For example, if you are planning a trip and your total travel expenses are $125, you can use the $100 travel credit to offset most of the cost and only pay $25 out of pocket.
The Bottom Line
The Bank of America Premium Rewards credit card is a great option for frequent travelers. The $100 travel credit is a valuable benefit that can save you money on travel expenses. By using the credit wisely, you can maximize its value and make the most of your travel budget.