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Bank of America® Premium Rewards® credit card

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on Bank of America's secure site

Bank of America® Premium Rewards® credit card

 

Rated 4/5 stars by our editorial team

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Your Rating:

4.0/5.0 from 2 Offer Ratings
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(2) Over the Past 60 Days!

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on Bank of America's secure site


  • Regular Purchase APR

    15.99% - 22.99% variable

  • Intro Purchase APR

    N/A

  • Intro BT APR

    N/A

  • Typical Credit Needed

    549

    600

    660

    720

    850

  • Annual Fee

    $95

  • Card Brand

    Visa®

Highlights

  • Click "APPLY NOW" to apply online
  • Receive 50,000 online bonus points - a $500 value - after you make at least $3,000 in purchases in the first 90 days of account opening
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases
  • If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
  • No limit to the points you can earn and your points don't expire
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, or gift cards or purchases at the Bank of America Travel Center
  • Get up to $100 in Airline Incidental Credits annually and TSA Pre✓®/Global Entry Statement Credits of up to $100, every four years
  • No Foreign Transaction Fees
  • Low $95 annual fee
  • Contactless Cards - The security of a chip card, with the convenience of a tap

Card Fees

  • Foreign Transaction Fee

    None

  • Balance Transfer Fee

    Either $10 or 3% of the amount of each transaction, whichever is greater.

  • Cash Advance Fee

    see terms

Additional Card Details

  • $0 Fraud Liability

    Yes

  • Auto Rental Insurance

    Yes

  • Extended Warranty Program

    Yes

  • Roadside Assistance

    Yes

  • Purchase Protection

    Yes

  • Travel Assistance

    Yes

  • Flight Accident Insurance

    Yes

  • Lost Luggage Reimbursement

    Yes

  • Concierge Service

    Yes


Expert Reviews

  • Regular APR

    3.0

  • Intro APR

    0.0

  • Fees

    3.0

  • Benefits

    5.0

  • Overall Rating

    4.0 /5

From the LendingTree.com Editorial Team

The Bank of America® Premium Rewards® credit card is a top of the line rewards credit card offering a big sign up bonus and generous ongoing rewards. New cardholders get 50,000 online bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening. You also earn 2 points for every $1 spent on travel and dining purchases, 1.5 points per $1 spent on all other purchases. That's a higher baseline rewards rate than most points-earning credit cards.

If you're a Bank of America Preferred Rewards client, your rewards will go even further with a 25%-75% bonus on every purchase. Unlike many points and miles credit cards that restrict you to only redeeming rewards with one airline or hotel, the Bank of America® Premium Rewards® credit card offers flexibility to redeem for a statement credit or even as a deposit into eligible Bank of America® or Merrill accounts. There's no limit to the points you can earn and your points don't expire.

This card is also packed with extra travel perks and benefits to help you save money. For example, you get up to $100 in Airline Incidental Credits annually and TSA Pre✓®/Global Entry Statement Credits of up to $100, every four years. While this card does have an annual fee of $95, there are no foreign transaction fees and the rewards you earn can easily make up for the annual fee.

The Bottom Line

With a big sign up bonus and generous ongoing rewards, the Bank of America® Premium Rewards® credit card is a great choice for anyone looking for a points-earning credit card for everyday purchases.

The Good

If you spend a lot on travel and dining, this card can help you rake in a big sum of rewards. If you're a Bank of America Preferred Rewards client and you take advantage of all the additional perks and rewards this card offers it can save you a lot of money.

The Not So Good

The $95 annual fee isn't waived the first year.


Editorial Note: This content is not provided by Bank of America. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by Bank of America.

Expert Reviews of the Bank of America® Premium Rewards® credit card

  • Regular APR

    3.0

  • Intro APR

    0.0

  • Fees

    3.0

  • Benefits

    5.0

  • Overall Rating

    4.0 /5


Consumer Reviews 2 Reviews

Offer Rating

4.0 out of 5.0

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