(Reposting 11/24/20 as a reminder that this deal is available through year’s end. Statement credit should show at statement close after you spend the entire $50 or else at some later date if you don’t spend the entire $50.)
Second update on 7/7/20: A good source indicates that this offer is clearly slated internally as being for ALL Premium Rewards cardholders. Not clear why the email wasn’t sent to everyone, but the $50 benefit should work for everyone who spends $50 on grocery, dining, takeout.
Additionally, the same internal info states that the offer is for new and existing cardholders, confirming what we wrote earlier today (below) that new cardholders will get this $50 credit as well.
(hat tip to WalterCreditCard)
Update 7/7/20: A reader reports this offer came for their brand new Premium Rewards card as well (came as a leaflet along with the card). Could make sense to apply for the card now if you’re on the fence as it’s basically an extra $50 signup bonus, on top of the regular $500 bonus.
Original Post:
Bank of America just sent out a mass email to Premium Rewards ($95 annual fee) cardholders:
Day-to-day life may be a little different right now, so we’re giving you a new way to make the most of your Premium Rewards® card. You’re now eligible to receive up to $50 as a statement credit on any combination of these qualifying purchases:
- Grocery store
- Dining
- Takeout
Simply use your card for qualifying purchases now through December 31, 2020, and your statement credit will equal the amount you spend—up to $50.
Fine Print:
Premium Rewards Statement Credit Offer with Grocery Store / Dining (Takeout) Purchase(s). You will qualify for a statement credit for the amount you spend (up to $50) on any combination of purchase transactions at eligible grocery store and dining merchants through 12/31/2020. Eligible purchase transactions include those made in the following merchant category codes (MCC): Grocery Stores/Supermarkets (MCC 5411), Freezer/Meat Lockers (MCC 5422), Candy/Nut/Confection Stores (MCC 5441), Dairy Product Stores (MCC 5451), Bakeries (MCC 5462), Misc. Food Stores (MCC 5499), Eating Places and Restaurants (MCC 5812), Drinking Places (Alcoholic Beverages), Bars, Taverns, Cocktail lounges, Nightclubs and Discotheques (MCC 5813), and Fast Food Restaurants (MCC 5814). Excluded from this offer are wholesale clubs, superstores and smaller stores (like drug stores and convenience stores) that sell groceries and other products. We do not determine which MCC a merchant is assigned. Purchases made at a merchant that does not process transactions under these MCC or purchases processed through a third-party payment account, mobile/wireless card reader, digital wallet not supported by Bank of America or similar technology where the technology does not support transmission of these MCC will not qualify. Limit one (1) statement credit per account. You will receive a $50 statement credit within 14 weeks of making $50 in combined qualifying purchases. If your combined purchases are less than $50, the corresponding credit will be posted within 14 weeks after the promotional period ends. Your account must be open with active charging privileges in order to receive this offer. If your account is converted from Premium Rewards to a different rewards program or to a card without a rewards program during the promotion, the offer is no longer valid. The statement credit will generally be applied to your existing balance with the highest APR before being applied to any balances with lower APRs. Receipt of a statement credit does not affect your responsibility to pay your Minimum Payment Due shown on each statement you receive from us. The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward. Please consult your tax advisor, as neither we, nor our affiliates, provide tax advice.
We’ve seen lots of issuers offer various credits and rebates during this coronavirus outbreak. This offer is quite generous given the annual fee is just $95, and given the card isn’t even marketed as a travel card. This credit is in addition to the standard $100 airline credit.
Seems like all Premium Rewards cardholders got this offer, though I’m not sure if there’s a public landing page – check your emails for subject,”Your Bank of America®Premium Rewards® credit card”.
Update: Seems like most customers did get the offer, but not everyone. Perhaps they are staggering the release and will send it to others at a different date (e.g. in a few months when it’s closer to their annual fee due) or perhaps it’s only being sent to those with Platinum Honors status from BofA.
Bank of America is also making it easier to redeem points on their Travel Rewards card as well.Â
Thanks to all who sent this in
