TPG Staff Picks: How We’d Use the Bank of America Premium Rewards Credit Card Sign-Up Bonus
Update: Some offers mentioned below are no longer available. View the current offers here.
Recently, The Points Guy reviewed the brand-new Bank of America® Premium Rewards® credit card. The mid-tier credit card is now available for sign-ups with a 50,000-point bonus that's equivalent to a $500 statement credit. TPG staffers, of course, decided to weigh in on what they'd do with the bonus.
"I'd put it towards cycling classes at SoulCycle and my gym membership because that's how I work off too many in-flight meals and kick jet lag!" — Brian Kelly, The Points Guy
"Because I'm in need of a new phone, and I've been practically drooling over the new iPhone X since it was announced, I'd put the credit directly toward its steep price tag — it starts at $999. Then I'd only have to pay $499 out of pocket." — Emily McNutt, Associate Editor
"I'd buy a $376 round-trip ticket from New York to Mexico City over Thanksgiving weekend. Then, I'd use the rest of that $500 statement credit to stay at a funky hostel and get my fill of the city's art, history, culture and food." — Kaeli Conforti, Senior Editor
"Since I already have a boatload of miles and points for travel, I'd use these points as cash-back and deposit the $500 into an investment account to save for the future." — Brendan Dorsey, Assistant Editor
"I'd redeem the credit for a travel purchase. If you fly out and back on weekdays, $500 is just about enough for airfare for two from New York to Burlington, Vermont — leaving some money to rent a car and drive around the state to photograph the fall colors. Hello, early fall mini-vacation!" — Alberto Riva, Managing Editor
"I would go on a bougie food tour of NYC and then use the 50,000 to offset the cost of my indulgence. My food choices would include the Black Label Burger at Minetta Tavern, omakase at Sushi Nakazawa, orecchiette pasta at Babbo and pretty much anything on the menu at Eleven Madison Park. And let's not forget a great bottle of wine, too." — Samantha Rosen, Social Media Editor
"I'm having trouble deciding what I'd like to use my statement credit for. I think I'd either put the credit towards a round-trip ticket between Newark (EWR) and London (LHR) on Virgin Atlantic's Dreamliner to visit my cousins and friends. Or, I'd use the card to pay for a stay at The Four Seasons, Marrakech in Morocco. You can't use points there so the statement credit would be a great way to make the property more affordable." — Nick Ellis, Assistant Editor
"I'd buy a new backpack; and while $500 might seem like a lot to spend on a bag, I could wear this daily to work in NYC and bring with me on every trip I take. It's stylish and practical (right?)" — Cindy Augustine, Freelance Editor
"I'd buy a $373 round-trip ticket between Newark (EWR) and Athens (ATH) on Emirates. Then, I'll enjoy breakfast at the top of the Acropolis Museum." — Alexa Noel, Editorial Intern
"I'd put the $500 bonus toward my Vienna trip in October. A bigger budget means I can try better wine, eat a few more pastries and confidently compare wienerschnitzel throughout the city." — James Oliver Cury, Editorial Director
"In Rome, I learned how to make pasta, so I'll use the $500 to buy enough pasta-making ingredients to make the entire TPG staff fresh spaghetti for a year. Saluti!" — Zach Honig, Editor-at-Large
"I'd use the $500 to purchase the new Sony 1000X headphones, retailing for $250. Then I'd use the remaining $250 for a round-trip to Chicago, where I'd enjoy my new headphones, explore one of my favorite US cities and visit an old friend." — Wallace Cotton, Community Manager
"I would use the money to buy a spontaneous trip anywhere out of the country — on a flight less than eight hours!" — Jeff Preis, Editorial Intern
What would you spend an extra $500 on? Sound off, below.
All prices accurate as of date of publication.
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.