Bank of America Asiana American Express Review (switching to Visa in 2016)

Updated May 3, 2014.  Please note that this product is switched to Visa Signature in August 2016.  Please see our updated review.

The Facts

• Annual Fee: $99
• Signup Bonus: 10,000 miles
• Rewards: 3x Asiana, 2x gas and grocery stores, 1x everywhere else.
• Best Use of Asiana Club Miles: Asiana Airlines is a member of Star Alliance.  Asiana Club Miles are generally valuable when redeemed on Asiana or partner flights.  You need to take into account the fuel surcharges that are added to award tickets though.
• Other Benefits: One $100 annual rebate towards Asiana purchases.  Two Asiana Lounge passes upon anniversary (only valid in Asiana lounges in U.S.)  One 10,000 miles certificate upon anniversary - note that this is not 10K miles but a certificate that you can combine with Asiana miles in your account to redeem.
• Other Facts: BofA greatly diluted the value of this product in late 2012.  The old product was among a very few cards that return 2 miles per dollar spent for general spending and was a hidden gem.  In our old review we said "...this card is almost too good to be true" and we are very sad to see it gone.

The Math
If you can effectively offset the annual fee by the anniversary 10K-mile certificate, $100 annual rebate, or two Asiana Lounges passes, you may want to keep this card.  However, since the new earning rate for general spending is only 1 mile per dollar spent, we will recommend you use Amex SPG since it allows points to be transferred to Asiana Club Miles and returns 1.25 miles per dollar spent.

The Conclusion
The new Asiana Amex after 2013 has been an disappointment.