Bank of America is making some changes to the benefits for the Bank of America Cash Rewards card & Premium Rewards card. These changes are listed in the latest statement for cardholders and will go into effect on February 1, 2021:
Cash Rewards:
- Auto Rental CDW benefit is being eliminated
Premium Rewards:
- Trip Cancellation/Interruption benefit is being reduced from $5000 to $2500
- Precheck/Global Entry credit is being modified to be easier to use
- Card previously gave one statement credit up to $100 every four years for either Precheck or Global Entry
- Card will now give up to $100 in statement credits every four years
- i.e. if for some reason you decided to apply for Precheck for $85 and then later applied for GE, there would still be a $15 benefit available to use on GE.
Hat tip to reader Lightspeed
