As other cardholders know, this card has a $95 annual fee, but that can be entirely offset by the annual $100 ¨airline incidentals¨ statement credit. (Not to mention that they also gave me a $500 initial cash signup bonus.)A special $50 statement credit offer
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.
(I used my airline incidental credits to acquire American Airlines gift cards in 2019 and 2020, which I then redeemed at face value for a trip I was planning to make. Of course, I ultimately wound up canceling the trip, but at least I lost $200 less than I would have lost without the statement credit.)
Since I am not planning any travel for the indefinite future, I had been mulling over whether to renew the card on its anniversary (in September, I believe.) The airline incidental credit no longer seems very attractive. (And yes I know there is a secondary market for gift cards, but imagine that may have dried up somewhat in the pandemic and never liked the idea of selling gift cards anyway.)
So, bottom line this surprise bonus $50 credit (which I will redeem in full the next time I buy groceries) is giving me a warm fuzzy feeling towards keeping the card one more year (and hoping that I can use the 2021 airline incidentals before 12/31/2021.) I do like getting 2.625% cash back on everything I use a card for. It is my fallback for anything that does not qualify for 5.25% on my two BoA cash rewards category cards or a Discover quarterly category card.