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Bank of America® Premium Rewards® Credit Card

Bank of America® Premium Rewards® Credit Card

 

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Your Rating:

4.0/5.0 from 5 Offer Ratings
Over the Past 60 Days!

(5) Over the Past 60 Days!

  • Regular Purchase APR 16.99% - 23.99% Variable APR
  • Intro Purchase APR N/A
  • Intro BT APR N/A
  • Annual Fee $95
  • Credit Needed

    Excellent/Good

  • Card Brand Visa®

Card Details

Highlights

  • Click "APPLY NOW" to apply online
  • Receive 50,000 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 client, you can get a 25%-75% rewards bonus on every purchase.
  • No limit to the points you can earn and your points don’t expire
  • Flexibility to redeem for a statement credit, deposit into eligible Bank of America® or Merrill Lynch® accounts like checking, savings, and 529, for gift cards or use at the Bank of America Travel Center.
  • Get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections
  • No Foreign Transaction Fees
  • Low $95 annual fee

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

Penalty APR Up to 29.99% APR

Ongoing Information

Rewards Rate 2 points for every $1 spent on travel and dining purchases, 1.5 points per $1 spent on all other purchases

Annual Fee $95

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

From the CompareCards.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 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 Lynch® 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 a $100 Airline Incidental Statement Credit annually for qualifying purchases such as seat upgrades, baggage fees, in-flight services, and airline lounge fees. While this card does have a $95, there are no foreign transaction fees and the rewards you earn can easily make up for the annual fee. 

Expert Reviews of the Bank of America® Premium Rewards® Credit Card

  • 3.0

    Regular APR

  • 0.0

    Intro APR

  • 3.0

    Fees

  • 5.0

    Benefits

  • star rating 4.0/5

    Overall Rating

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 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.

Consumer Reviews

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Offer Rating

4.0/5.0

5 Total Ratings

5 Star
 
 
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