Bank of America Premium Rewards Credit Card
bank of america
4.2 / 5
- Welcome
- 60,000 points
- Annual fee
- $95
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Bank of America · premium rewards
Bank of America Premium Rewards Elite Credit Card
4.0 / 5
Bank of America points · Personal card
A premium card that only makes sense for Preferred Rewards Platinum Honors households, where the effective earn rates and $450 in credits beat the fee. Everyone else has better options.
At a glance
- Welcome bonus
- 75,000 points
- Spend $5,000 in 3 months
- Annual fee
- $550
- Year-one and ongoing
- Purchase APR
- 19.74% to 27.74%
- No intro APR
- FX fee
- None
Editorial
Our take
A premium card that only makes sense for Preferred Rewards Platinum Honors households, where the effective earn rates and $450 in credits beat the fee. Everyone else has better options.
Verdict
Pros & cons
Pros
- $450 in annual credits
- Priority Pass for the household
- Preferred Rewards boosts stack on every purchase
Cons
- Fixed-value points
- $550 fee without marquee perks like Centurion or Sapphire lounges
Earnings
Earn rates
| Category | Rate | Notes |
|---|---|---|
| All travel | 2x points | |
| Dining | 2x points | |
| All other purchases | 1.5x points | Preferred Rewards members earn 25% to 75% more on everything. |
Benefits
Key benefits
$300 airline + $150 lifestyle credits
Airline incidentals plus streaming, food delivery, fitness, and rideshare.
Four Priority Pass memberships
For you and household members.
20% airfare discount with points
Booking flights with points stretches them to 1.2 cents.
Fit
Who this is best for
- Merrill and Bank of America private clients
- Households wanting four Priority Pass memberships
FAQ
Frequently asked questions
What is the Premium Rewards Elite welcome bonus?
Earn 75,000 online bonus points after making at least $5,000 in purchases in the first 90 days of account opening.
Does the Premium Rewards Elite charge an annual fee?
Yes. The annual fee is $550 every year.
Does the Premium Rewards Elite have a foreign transaction fee?
No. The Premium Rewards Elite charges no foreign transaction fee, so it works well for international purchases.
What APR does the Premium Rewards Elite charge?
The purchase APR is 19.74% to 27.74% variable.
Who is the Premium Rewards Elite best for?
Merrill and Bank of America private clients. Households wanting four Priority Pass memberships.
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Apply
Bank of America Premium Rewards Elite Credit Card
Spend $5,000 in 3 months
Rates accurate as of October 6, 2026. Issuer terms.