Bank of American Premium Rewards Card
The Bank of America Premium Rewards Card Calculator will calculate how many points you can earn based on monthly/yearly spend. This BOA calculator will also calculate the cash value of the card based on that spend, the value of the card benefits, and the annual fee. You can then compare the results side by side against any rewards card.
The Bank of America Premium Rewards Card is a solid choice for occasional travelers that want to build a good amount of Bank of America points. It offers several perks and bonuses that more than makes up for it's small annual fee, and it provides the best point earning opportunities to anyone that invests with Bank of America themselves, Merrill Lynch, and/or Merrill Edge.
The Bank of America Premium Rewards Credit Card features two bonus categories that earn extra points. These bonus categories are travel and dining purchases. There is no limit to the amount of Bank of America Travel Reward Point you can earn spending on this card. Below are the details of the Premium Rewards Card's bonus categories.
The Bank of America Premium Rewards Card earns 2 points per $1 spent on all travel purchases. Bank of America defines travel as anything to do with such including, but not limited to: airlines, hotels, motels, timeshares, trailer parks, motor home and recreational vehicle rentals, campgrounds, car rental agencies, truck and trailer rentals, cruise lines, travel agencies, tour operators, passenger trains, buses, taxis, limousines, ferries, boat rentals, parking lots and garages, tolls and bridge fees, tourist attractions and exhibits, amusement parks, carnivals, aquariums, and zoos.
Cards that offer a relaxed travel category are amongst some of the best cards in the industry. Other issuers such as Chase also provides an open travel category on its Ultimate Reward Cards. The Chase Sapphire Reserve and Chase Ink Business Preferred Card are two of such that are great for traveling.
Dining purchases made on the Bank of America Premium Reward Card earns 2 points per $1 spent as well. Bank of America considers dining as restaurants, fast food, and drinking establishments such as bars or taverns. Considering each Bank of America point is worth 1 cent at minimum, this is a solid return for eating out.
1.5x Non-Category Purchases
All purchases made on the Premium Rewards Card outside of travel and dining will earn 1.5 Bank of America points. This is equal to a 1.5% return which is good for anyone looking to build points.
Perks and Benefits
Bank Of America Account Bonus
Bank of America Premium Reward Card holders with an active Bank of America checking, savings, or individual retirement account will get a 10% customer point bonus when using the BOA Travel Reward Card. This bonus will not apply to customers who earn the Bank of America Preferred Rewards Client bonus listed below. This also applies to co-applicants. Business checking and savings accounts do not apply.
Bank of America Preferred Rewards Client Bonus
Bank of America Preferred Rewards Clients can earn up to a 75% customer point bonus when they use their Premium Reward Card on purchases. The Bank of America Preferred bonus is based on qualifying combined balances in your Bank of America banking and/or Merrill Edge® and Merrill Lynch® investing and trading accounts.
- Gold | 25% Bonus Rewards | $20k to $50k 3-month average in combined balances
- Platinum | 50% Bonus Rewards | $50k to $100k 3-month average in combined balances
- Platinum Honors | 75% Bonus Rewards | $100k+ 3-month average in combined balances
This means you can earn as much as 3.5 points per $1 on travel and restaurant and 2.62 points per $1 on all other purchases. You can use the Bank of America Travel Rewards calculator below to select a status level and calculate points based off the bonus!
$100 Airline Incidental Credit
Premium Reward cardholders will receive up to a $100 statement credit each calendar year towards qualifying airline incidentals. This includes purchases made on domestic-oriented flights including seat upgrades, ticket change and cancellation fees, checked bag fees, in-flight entertainment and food, and airport lounge fees with certain fees.
$100 Global Entry/TSA Precheck Credit
Using this card to pay for a Global Entry ($100) or TSA PreCheck ($75) application will trigger up to a $100 statement credit. This credit can only be used once per account every four years in connection withe either program. The card only needs to be used for the application to be trigger the statement credit and does not rely on the outcome of whether or not the applicant was approved for either program.
Sign Up Bonus
The standard Bank of America Premium Rewards Card sign up bonus is 50,000 Bank of America Points after spending $3,000 in purchases in the first 90 days of account opening. This is worth $500 in travel, cash or gift cards.
Credit Card Fees
|Authorized User Fee|
|Foreign Transaction Fee|
The Bank of America Premium Rewards Card annual fee is $95. This is in-line with most basic reward cards. The card comes with an annual $100 airline credit, so that takes care of the annual fee if you're able to use it. Adding on Global Entry/TSA perk and the bonus categories, you should be able to easily justify this annual fee.
Authorized User Fee
The authorized user fee for the Bank of America Premium Reward Card is $0. If you have friends or family that spend in travel and dining, I would recommend adding them as authorized users on the card.
Foreign Transaction Fee
The Bank of America Premium Rewards Card does not have a foreign transaction fee. This means you can earn Travel Reward Points at the same great rate worldwide without being penalized for transactions outside of the United States.
You can use this rewards calculator to calculate how many points, miles, or cash back you can earn based on your spend per category. This calculator will also give you the dollar value of the card based on rewards earned and how much each benefit is worth to you minus the fees. You can click the Compare A Card button to compare this card against another card in the same calculator.
All category spend entered in the primary card's column will carry over to all credit card pages on the site so you don't have to re-enter the same information over again.
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About These Calculators: These calculators are provided to help you estimate the value of points, miles, and cash back you can earn with various rewards programs and using reward earning credit cards. These calculators are meant to provide an estimate of rewards earned and are not meant to reflect the exact amount of points you may receive. Be sure to read the terms and conditions of any credit card before you apply as benefit and perk changes may not be reflected immediately on this website.
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