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Bank of America Premium Rewards Credit Card card art
Bank of America · premium rewards

Bank of America Premium Rewards Credit Card

4.2 / 5
Bank of America points · Personal card

Mediocre at face value, exceptional with Platinum Honors status. If you keep $100K at Merrill this quietly outearns nearly every flat-rate card. Points are fixed at 1 cent.

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At a glance

Issuer terms
Welcome bonus
60,000 points
Spend $4,000 in 3 months
Annual fee
$95
Year-one and ongoing
Purchase APR
See terms
No intro APR
FX fee
None
Rates accurate as of
Editorial

Our take

Mediocre at face value, exceptional with Platinum Honors status. If you keep $100K at Merrill this quietly outearns nearly every flat-rate card. Points are fixed at 1 cent.

Verdict

Pros & cons

Pros

  • Up to 2.625x to 3.5x effective earning with Preferred Rewards
  • Solid trip protections
  • $100 annual airline credit
  • No foreign transaction fee

Cons

  • 1 cent fixed-value points with no transfer partners
  • Weak earning without Preferred Rewards status
Earnings

Earn rates

CategoryRateNotes
All travel2x points
Dining2x points
All other purchases1.5x pointsPreferred Rewards members earn 25% to 75% more on everything.
Benefits

Key benefits

Preferred Rewards multiplier

Platinum Honors members effectively earn 3.5x on travel and dining and 2.625x on everything else.

$100 airline incidental credit

Each calendar year, for bags, seats, and lounge fees.

Fit

Who this is best for

  • Bank of America Preferred Rewards members
  • Flat-rate earners who want travel protections
FAQ

Frequently asked questions

What is the Premium Rewards welcome bonus?
Earn 60,000 online bonus points after making at least $4,000 in purchases in the first 90 days of account opening.
Does the Premium Rewards charge an annual fee?
Yes. The annual fee is $95 every year.
Does the Premium Rewards have a foreign transaction fee?
No. The Premium Rewards charges no foreign transaction fee, so it works well for international purchases.
What APR does the Premium Rewards charge?
The purchase APR is See terms variable.
Who is the Premium Rewards best for?
Bank of America Preferred Rewards members. Flat-rate earners who want travel protections.
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Bank of America Premium Rewards Credit Card

Spend $4,000 in 3 months
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Rates accurate as of June 10, 2026. Issuer terms.