Update 11/15/22: Cardholders are being offered 2% cash back for December as an apology for issues with the transition. Pretty pathetic given that some cards offer 2% cash back or more all the time.
Original post: The Bank of America AAA credit card was purchased by Comenity. The new bank backing will begin in October 2022, along with an entirely new rewards structure which includes 5% on Gas.
The new card will be called the AAA Travel Advantage Visa Card. Points from the old card will automatically carry over to the new one when the transition takes place on October 9th.
- You can find the landing page for the new card here, the FAQs here, and the AAA Travel Advantage Rewards Program Terms here.
Card earns the following rewards:
- 5% cashback on gas and electric-vehicle charging, up to $350 cashback per calendar year (1% afterward)
- 3% cashback on grocery, restaurant, travel, and AAA purchases
- 1% cashback on all other purchases
The 5% Gas rate and the 3% cashback on Grocery, Restaurant, and Travel is pretty interesting for a no-fee card. The main downside is that it’s no longer part of the Bank of America rewards program which allows supercharging rewards by 75% for top-tier relationship clients.
Another notable negative with the transition is when redeeming at AAA participating clubs – redemptions will no longer have an additional value of 10%-40%, now it’ll just be 5% additional value. Also note that, per the terms, Cash Back will expire after 5 years.
Hat tip to readers Michael, mahesh, and Julian
