Update 6/5/23: New bonus 75,000
More details emerge on the rumored upcoming Bank of America premium credit card, it’s called the Premium Rewards Elite Visa Infinite card.
Premium Rewards Elite
- Signup bonus 75,000 points after spending $5,000
- $550 annual fee
- Up to $150 annually in statement credits for lifestyle conveniences, including streaming services, food delivery, fitness subscriptions and rideshare services. (applies to the following category codes: 4899,5399,5411,5422,5499,5691,5734,5815,5816,5817,5818,5921,5940,5964,5968,5969,5999,7032,7299,7372,7841,7997, and 7999)
- Up to $300 annually in Airline Incidental Statement Credits for qualifying purchases like seat upgrades, baggage fees, in-flight services and airline lounge fees.
- Up to $100 in statement credits for Global Entry or TSA PreCheck® application fees (every four years).
- Card earnings:
- 2 points for every dollar on travel and dining purchases
- 1.5 points per dollar on all other purchases
- Preferred Rewards members earn 25% – 75% more points on every purchase. This means clients could earn up to 3.5 points on travel and dining purchases, and up to 2.62 points on all other purchases, for every $1 they spend.
- Clients can redeem points for travel, cash back, a statement credit, distinctive experiences or gift cards.
- 20% savings on domestic and international airfare for any class when paying with points through the Bank of America Travel Center or concierge.
- That gives 25% additional value to the points. For top-tier Preferred Rewards members, this can potentially bring up the value of your points on travel/dining from 3.5 to 4.4 cents per point, and from 2.6 to 3.3 cents per point on all purchases (wow!)
- Free unlimited access to airport lounges worldwide with complimentary Priority Pass Select Membership. Update 10/21/22: they’ve now added the ability to gift three annual Priority Pass passes to others, register here.
- Private flying with NetJets – purchase or redeem points for flight time, complimentary upgrades and additional perks.
- Complimentary 24/7 full-service concierge to book travel, dinner reservations, event tickets and more.
- Numerous additional benefits provided by Visa® such as the Visa Infinite Luxury Hotel Collection and additional travel benefits.
- No foreign transaction fees.
- Return protection of $300 per item, up to $1,000 per cardholder per year.
- Extended warranty protection.
- Purchase protection of up to $10,000 in case of damage or theft of an item within 90 days of purchase.
Update History
- Update 12/20/22: Just bumping this post since it’s a good time to apply now and get the airline and entertainment credits for 2022 and then again in 2023 (and beyond…). If approved now, card would usually come within a few days. (ht milenomics)
- Update 2/26/22: Card is now officially live
herenew link - Update 12/9/21: Still no public link that I’m aware of. Some people have been getting their cards from earlier application links. I’ve added a few more details in the post below.
- Update 11/21/21: An application page has been found. Might make sense to wait for the official landing page to come online before applying though. (Hat tip to JonLuca) The terms indicate that the signup bonus is 50,000 points after $3,000 spend within 90 days.
Our Verdict
Seems like a souped up version of the Premium Rewards card: $200 more in airline incidental credits, $150 extra lifestyle credit, and a few other benefits. I like how they make the $150 lifestyle credits a bucket with a few options to make it useful for everyone.
Still, I don’t see it being worth the extra $455 higher annual fee for most people. That said, it makes sense for the first year when you get a signup bonus, plus you get the $300+$150 credits twice during the first year since the credits reset with the calendar year. It can also make sense for some people who value the 20% travel redemption discount.
Hat tip to u/AllHailMat
MCC reference for Lifetsyle credits:
• 5399 = Miscellaneous General Merchandise Stores
• 5411 = Grocery Stores, Supermarkets
• 5422 = Freezer and Locker Meat Provisioners
• 5499 = Miscellaneous Food Stores–Convenience Stores, Markets, Specialty Stores, and Vending Machines
• 5691 = Men’s and Women’s Clothing Stores
• 5734 = Computer Software Stores
• 5815 = Digital Goods: Books, Movies, Music
• 5816 = Digital Goods: Games
• 5817 = Digital Goods: Applications (Excludes Games)
• 5818 = Digital Goods: Large Digital Goods Merchant (V) / Digital Goods: Multi-Category (M)
• 5921 = Package Stores–Beer, Wine and Liquor
• 5940 = Bicycle Shops–Sales and Service
• 5964 = Direct Marketing–Catalog Merchants
• 5968 = Direct Marketing–Continuity/Subscription Merchants
• 5969 = Direct Marketing–Other Direct Marketers–Not Elsewhere Classified
• 5999 = Miscellaneous and Specialty Retail Stores
• 7032 = Sporting and Recreational Camps
• 7299 = Other Services–Not Elsewhere Classified
• 7372 = Computer Programming, Data Processing and Integrated System Design Services
• 7841 = DVD/Video Tape Rental Stores
• 7997 = Clubs–Country Clubs, Membership (Athletic, Recreation, Sports), Private Golf Courses
• 7999 = Recreation Services–Not Elsewhere Classified
5411 (supermarkets) and 5499 (“broad grocery” in my mind—works on farmers markets, and many online supplement and specialty food stores) are big categories for me. Even 5999 comes up pretty often. I’m kind of surprised to see these included. If they’re going by MCC alone, this should be easy to use.
As of 12/4/23, 5411 is no longer on the list.
I still see 5411 and 5999 on the list, was anyone able to trigger a supermarket credit?
Use Doordash and have groceries delivered. That’s what I did. Had coupons for Aldi.
Paramount Plus doesn’t work.
Dec 2023 – No go for monthly Gym membership fees at the local YMCA
So for the priority Pass memberships is there any ability to bring guests? I.e. I pick 3 other people to give the pass to, then that’s set in stone?
So, If I then travel with a different person, I can’t extend the benefit to them?
This is a still a huge benefit, but has some reduced flexibility for those that travel with lots of other people. (Or am I understanding correctly? No mention of guests I see listed anywhere.)
I just used the PP to bring in 1 guest multiple times during a trip
How fast does the actual credit come for airline and lifestyle? Do they pay within a few days? My annual fee posted 31 Dec and the due date is 14 Jan. I intend to cancel.
Bought 3x$100 AA on 02 January. No credit yet, 4 days later.
Uber Cash reloads working still? FT says not anymore
Look in the other post advertising the increased 75,000 SUB.
I loaded Uber Cash and Lyft Cash. Both are showing up in the tracker, charges were in-app @$25/each. I assume this means they will credit eventually.
Works just fine – one week ish timeline to credit.
Not sure how many people this will help, but a Peloton Membership codes as 5940 so it should count for the lifestyle credit.
What about if you want to buy a Peloton GC?
Anybody use the lifestyle credit past 60 days? Someone on flyertalk didn’t get credit for uber cash reload. Any good uses of this?
bump
What is bump?
old forum terminology and behavior to “bump” a thread (message posting) to the top of a list, as it may have fallen off the main page. The “bump” post counts as activity on the thread to move it to the top, it’s not relevant in this threaded messaging board though.
I see my first statement closes 12/10. Does the AF hit on this date?
Yes. Mine closes tomorrow, and they sent a separate message notifying me that my fee would be billed on the 4th.
@SgFm so that means I’ve got four days to burn these credits, from the sounds of it. Yikes.
Annual fee did not get charged with my December statement! Now I wonder if it will be charged on some other date this month? Strange, because the email from BOFA regarding the annual fee, clearly made it sound like I would be charged with this month’s statement.
Same. I assume it will be with the 1/10 statement or whatever one closes in Jan.
It should post on 12/31.
Does the Priority Pass membership that comes with this card include restaurants and other non-lounge spaces?
Is there a tracker on the website for the “lifestyle” credits?
Yes, same as the airline credit
What do you use the lifestyle credit for?
(HBO) Max subscription. Had to call and get it manually credited but they said it qualifies, just the system didn’t automatically credit me
Good to know. I just called them and they said Sling qualifies, it’s on a list they have and yes they said Max does too. Forget them all but Hulu, Netflix, Disney count too. Flyertalk has another case of someone who bought HBO/Max and didn’t get it but got manually credited. So I guess I’ll set up Sling and if it doesn’t credit, I’ll have them manually credit it.
$100 United Travel Bank + $100 AA GCs triggered the airline credit
$25 Uber GC (in app) + $25 Lyft cash reload (in app) triggered the lifestyle credit; Spotify monthly payment did not
Was anyone able to get their annual fee refunded after downgrading this card? Tried calling in evening but they said I need to talk to promotions team to get it downgraded