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This Week in Credit Card News: April 30 – May 6

Updated Sep 30, 2021 | Published May 06, 20212 min read

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At a glance

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.

Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines. Terms Apply.

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:
      • Travel
      • Dining
      • 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

Transfer Amex Membership Rewards Points to Avianca LifeMiles for a 15% Bonus

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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Written by

Brendan Harkness

Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high-quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.

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