Rated 4/5 stars by our editorial team
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4.0/5.0 from 2 Offer Ratings
Over the Past 60 Days!
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
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
$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
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 an annual fee of $95, there are no foreign transaction fees and the rewards you earn can easily make up for the annual fee.
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.
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 $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.
2 Total Ratings