The Bank of America® Premium Rewards® Visa® 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® Visa® 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 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.