This Week in Credit Card News: April 30 – May 6
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BofA adds 2X grocery category to Premium Rewards card; Amex gives 15% bonus for Avianca LifeMiles transfers; Contactless payments gain widespread acceptance in wake of the pandemic.
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The information related to The Platinum Card® from American Express, American Express® Gold Card, Amex EveryDay® Preferred Credit Card, and The Blue Business® Plus Credit Card from American Express have been collected by Credit Card Insider and have not been reviewed or provided by the issuer or provider of these products.
Bank of America Premium Rewards Card Adds 2X Grocery Category Through December
- The Bank of America® Premium Rewards® Credit Card (Review) has added a new 2X grocery category through the end of the year.
- The Premier Rewards card’s key features consist of:
- 2X points per dollar for:
- Groceries (through 12/31/21)
- 1X point per dollar for all other purchases
- 50,000 bonus points for spending $3,000 in the first 90 days
- Perks: $100 annual airline incidental fee credit; Global Entry/TSA PreCheck fee credit; BofA Preferred Rewards program
- No foreign transaction fee
- Annual fee: $95
- 2X points per dollar for:
Transfer Amex Membership Rewards Points to Avianca LifeMiles for a 15% Bonus
- American Express cardholders with Membership Rewards points can transfer points to Avianca LifeMiles for a 15% bonus, at a rate of 1:1.15. The normal transfer rate is 1:1.
- This offer is available for a limited time, and will end 5/31/21.
- Popular cards that earn Membership Rewards points include:
Contactless Payments Triple in US, Brazil, According to New Mastercard Survey
- New data from Mastercard shows widespread adoption of contactless payments following the outbreak of the pandemic, with 90% of global merchants reported to accept contactless payments.
- Mastercard measured 1 billion more contactless payments in the 12 months following the first quarter of 2020, compared to the previous year. The U.S. and Brazil showed the largest gains, with contactless payments tripling.
- These data come from a Mastercard survey of 5,500 merchants.
- Mastercard also reports that 63% of consumers tried a new payment method because of the pandemic that they otherwise wouldn’t have tried, according to a separate survey. According to Mastercard’s new Payment Index, over 100 global markets saw contactless payments as a share of in-person transactions rise by 50% or more.
- Source: PaymentsSource
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