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Bank of America® Premium Rewards® credit card

Bank of America® Premium Rewards® credit card

 

Rated 4/5 stars by our editorial team

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Your Rating:

3.7/5.0 from 34 Offer Ratings
Over the Past 60 Days!

(34) Over the Past 60 Days!

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  • 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

  • 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 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

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Offer Rating

3.7/5.0

34 Total Ratings

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