BofA Atmos Rewards Ascent Credit Card: 70,000 Miles + One Companion Ticket Bonus

BofA Atmos Rewards Ascent Credit Card

Highlights

• 10% miles bonus: This card and the business version both now offer a new 10% miles bonus benefit. You need to have a BofA bank account (checking or savings) or an investment account (Merrill), and you can earn it as long as the account has activity or a balance above 0. It looks like this 10% bonus is fairly easy to qualify for.
• Strong sign-up bonus: The Alaska Airlines miles you receive are very valuable, and with the companion fare rebate as well, it is well worth applying.
• Airline benefits:
  • Buy tickets with this card to get priority boarding and one free checked bag; authorized cardholders also get this benefit (and can fly separately)!
  • The first checked bag is free for up to six companions traveling with you (all tickets must be paid with this card).
  • 20% cash back on Alaska Airlines in-flight purchases (including food and Wi-Fi) and 50% off Alaska Lounge Day Pass admission
• Alaska Lounge+ Membership discount: Use this card to purchase this lounge membership and get a $100 discount
• Companion fare benefit: You need to spend $6,000 on the card before receiving one Companion Fare each year. After one person buys an Alaska Airlines ticket, adding a companion’s ticket only costs $99+$22 (taxes). Valid only for U.S. domestic flights on Alaska Airlines and Virgin America. Using the companion fare to fly to Hawaii is especially valuable. In the example below, you could get an $800 ticket for just $99. When booking, simply search normally and the Alaska and Virgin America flights will connect automatically. Alaska Companion Fare FAQ

BofA card benefits

• Free museum admission: On the first weekend of every month, BofA cardholders get free admission to major museums across the country. You can add an authorized user for family members so they can enjoy free admission too. To see the list of free museums by state, please click here
• BofA Deals: Offers 5%-15% cash back or a fixed-dollar rebate at various merchants. Past standout offers have included Sears 15% cash back (up to $25) and Nordstrom Rack 15% cash back (up to $37.5). Using any BofA Deal also gets you an extra $5. See: BofA Deals guide
• Free credit score: BofA credit cards now provide a free TransUnion credit score. See: Free credit score comparison
• Product change option: This card can be converted to another no-annual-fee BofA credit card, so if you do not want to keep paying the annual fee after the first year, you can product change. See: Product change summary

Alaska Airlines Miles Overview

• Point value: Each mile is worth 1.6 cents (points value chart)
• Redeeming miles: Alaska Mileage Plan has been integrated into Atmos Rewards, and existing miles were converted to the new points at a 1:1 ratio. You can redeem flights on Alaska, Hawaiian, and oneworld and other partner airlines such as AA, Cathay Pacific, and Japan Airlines. Short-haul awards and some partner business class awards still offer decent value, but long-haul and multi-segment itineraries are no longer as cheap as before. See Alaska miles redemption
• Redemption advantages: Eligible international one-way award tickets can include one free stopover of up to 14 days, and round-trip awards can include up to two stopovers. The award chart is priced mainly by region and flight distance, with partner-airline short-haul awards starting at 4,500 points, and some Japan Airlines, Cathay Pacific, and AA business class awards can still deliver strong value.

My Review:

Application experience: I had already had BofA credit cards for more than two years, so my first Alaska credit card was instantly approved with a $6,000 limit, no problem at all. But LD’s first BofA credit card was this one, with only a $3,500 limit, and there was no prior relationship with BofA, so it could not be increased to $5,000 by transferring credit limit in order to get the 30,000-mile sign-up bonus. Instead, LD had to settle for the $5,000 Platinum bonus. That said, if the first BofA card had been some other no-annual-fee card, the sign-up bonus would not have been very high either. It might actually be better to get a downgraded version, which can still earn $100 + 5,000 miles.

I recently applied for this card again, and the winding process was as follows:

• Applied in early November and, after waiting a few days, was automatically approved with a $4,500 limit
• The next day I called and transferred $500 of credit line from the BBR card. After the credit line transfer, they would ask to upgrade it to the Visa Signature version. But according to them, as long as the limit reaches $5,000, you can call Alaska Airlines and request the 30,000-mile sign-up bonus. (Note: do not contact the customer service number on the back of the card to request a credit limit transfer, because that may result in a hard pull. Have them transfer you to a credit analyst. The credit analyst can, depending on your situation, move credit line with a soft pull.)

• In mid-November I received the non-upgraded card. After completing the sign-up spending requirement, I only received $100 + 5,000 miles + a $50 discount code, and the annual fee was only $50 (this is the reward and annual fee for the Visa Platinum version)
• At the end of November, I received a letter saying the request to upgrade to Visa Signature was being processed
• At the beginning of January, I still had not seen the card upgraded, and I also had not seen the additional 25,000 miles posted. When I called to ask, the representative said the upgrade takes two months to process, and only after the Visa Platinum upgrade is completed will the mileage difference be automatically added
• In mid-January I saw that the credit card in the account had been upgraded. A few days later I received the new card, and a few days after that I received the 25,000-mile difference + Companion Fare. The first year’s annual fee was not charged again
• Summary: After all that hassle, the sign-up bonus ended up being $100 + 30,000 AS miles + a $50 discount code + companion fare code + only a $50 annual fee. Still pretty good! If you want to take a risk, you can apply without lowering the credit limit first, then transfer credit line and upgrade to get both sets of rewards and the lower annual fee

Miles redemptions: For domestic U.S. redemptions, Alaska Airlines recently acquired Virgin America, so the route network is broader and miles are easier to use. For U.S.-China redemptions, Alaska miles are one of the few remaining programs that still allow a one-way ticket with a stopover. When flying back to China, you can stop for a few days in New York, Chicago, Beijing, or Shanghai before continuing onward. For business-class and first-class redemptions, after the devaluation of AA miles, using Alaska miles to redeem AA business and first class is still the best value.

Whether to keep it long term: I do not fly Alaska Airlines often, so I will not keep this card long term. I will only product change it to another BofA no-annual-fee credit card after earning the sign-up bonus.

Application

• You need to enter your Alaska membership number when applying. If you have one, be sure to enter it, otherwise a new one will be assigned automatically

• BOA application status check link, or call: (800) 732-9194
• 2/3/4 rule: at most 2 cards approved within 2 months, 3 within 12 months, and 4 within 24 months. However, BofA’s system is not very reliable, and sometimes a card may be approved at first but later shut down.
• The welcome bonus on the same card can only be received once every 24 months, and you need to make sure the card is closed before applying again>
• You need to be a Resident to apply for a BOA credit card online: when applying for a BofA credit card online, if you select Non resident alien, you will not be able to continue and must apply by phone. However, BofA’s definition of Resident alien is different from the IRS definition of Resident alien for tax purpose. No matter what immigration status you used to enter the US, if you have lived in the US for 183 days within the past two years, then select Resident Alien. If you just arrived in the US and cannot meet this requirement, follow the prompt on the online application page and call 1.800.932.2775 to apply.
• You can call the reconsideration line (888-593-6092) to speed up credit card approval or request a review of a denied application.
• More about applying for BofA credit cards

Application Links:

• BofA Alaska Airline Credit Card