Rated 4/5 stars by our editorial team
Click the stars to submit your rating.
Thanks for rating!
3.7/5.0 from 34 Offer Ratings
Over the Past 60 Days!
Reviews
"
"
CompareCards says issuers are providing such generous deals, they're virtually irresistible for those willing to switch.
"
"
Those who always pay their balances in full and on time will usually come out ahead.
"
"
The offers on the credit card landscape are constantly changing which is great news for consumers.
"
"
In the future, the companies that will thrive are those able to give customers exactly what they want, the way they want it, when they want it.
"
"
CompareCards was one of three sites that met all the criteria.
Trusted & Secure
-
Empowering over
50,000,000 card holders Since 2005
Bank of America® Premium Rewards® credit card
Apply Now
Add to Compare
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
- Annual Fee $95
-
Credit Needed
Excellent/Good
- Card Brand Visa®
Card Details
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 you spend on travel and dining purchases. Plus, earn 2 points for every $1 spent on grocery store purchases – now through 12/31/21
- Earn 1.5 points for every $1 you spend on all other purchases. No limit to the points you can earn and your points don't expire
- If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means you could earn up to 3.5 points for every $1 spent on travel and dining purchases.
- 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 Statement Credits annually and TSA Pre✓®/Global Entry Statement Credits of up to $100, every four years
- No Foreign Transaction Fees
- Low $95 annual fee
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
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% variable
Ongoing Information
Rewards Rate 2 points for every $1 you spend on travel and dining purchases. Plus, earn 2 points for every $1 spent on grocery store purchases – now through 12/31/21. Earn 1.5 points for every $1 you spend on all other purchases. No limit to the points you can earn and your points don't expire
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 No
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 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 you spend on travel and dining purchases. Plus, earn 2 points for every $1 spent on grocery store purchases – now through 12/31/21. Earn 1.5 points for every $1 you spend on all other purchases. No limit to the points you can earn and your points don't expire. 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 Statement 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.
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
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 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.
Consumer Reviews
Offer Rating
3.7/5.0
34 Total Ratings
| 5 Star |
|
(7) |
|---|---|---|
| 4 Star |
|
(15) |
| 3 Star |
|
(9) |
| 2 Star |
|
(2) |
| 1 Star |
|
(1) |
Related Card Offers
- Intro APRs 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99% - 23.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
- Sign Up Bonus $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
- Rewards Rate 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% cash back on all other purchases
- Annual Fee $0
- Credit Needed Excellent/Good
- Card Brand Visa®
Highlights
- Click "APPLY NOW" to apply online or call 800-716-6383.
- No annual fee
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
- Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
- 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99% - 23.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
- No expiration on rewards
- If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase. That means you could earn up to 5.25% cash back on purchases in your choice category.
- Contactless Cards - The security of a chip card, with the convenience of a tap
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
See additional details for Bank of America® Customized Cash Rewards credit card
- Intro APRs 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 12.99% - 22.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
- No Penalty APR Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply
- Build Credit Access your FICO® Score for free within Online Banking or your Mobile Banking app
- Annual Fee $0
- Credit Needed Excellent/Good
- Card Brand Mastercard®
Highlights
- Click "APPLY NOW" to apply online or call 800-483-4499.
- 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 12.99% - 22.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
- No annual fee
- No penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply
- Access your FICO® Score for free within Online Banking or your Mobile Banking app
- Contactless Cards - The security of a chip card, with the convenience of a tap
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
See additional details for BankAmericard® credit card
- Sign Up Bonus $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
- Intro APRs 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99% - 23.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
- Earn Rewards 1.5% cash back on all purchases
- Annual Fee $0
- Credit Needed Excellent
- Card Brand Visa®
Highlights
- Click "APPLY NOW" to apply online or call 866-598-4961.
- New Offer! With the new Unlimited Cash Rewards credit card, you can earn 1.5% cash back on every purchase, every time.
- No annual fee
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
- If you're a Preferred Rewards member, you earn 25%-75% more cash back on every purchase. That means you could earn up to 2.62% cash back on every purchase.
- No limit to the amount of cash back you can earn and cash rewards don't expire
- 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99% - 23.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
- Contactless Cards - The security of a chip card, with the convenience of a tap
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
See additional details for Bank of America® Unlimited Cash Rewards credit card
