Trusted & Secure
Our pick for unlimited travel earning
3% of the amount of each transaction.
up to 29.99% variable
2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases
Additional Card Details
From the CompareCards.com Editorial Team, updated on Dec 06, 2023
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 60,000 online bonus points - a $600 value - after you make at least $4,000 in purchases in the first 90 days of account opening. You also earn 2 points for every $1 spent on travel and dining purchases and unlimited 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® member, 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 Precheck®/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
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.
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® member 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.