Bank of America Premium Rewards Card - Point Calculator & Benefits

Premium Rewards Points Calculator
Review the benefits of the Bank of America Premium Rewards Card, calculate how many points you can earn based on spend, and compare top travel cards.
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Last Updated 2022-01-04

The Bank of America® Premium Rewards® credit card is a solid option if you're looking to earn points easily redeemable towards travel. The card offers a solid return across travel and dining spend while offering a 1.5% return on all other purchases.

It also comes with useful benefits such as annual travel credits and the ability to earn up to 75% bonus points based on your tier in the Preferred Rewards program.

Unlike other cards in the program, points earned with the Premium Rewards credit card are worth 1 cent each for all redemptions making it the best card for maximizing travel rewards.

Card Details At-A-Glance

Issuing Bank
Card Network
Rewards Earned
Rewards Avg Value
Annual Fee
Authorized User Fee
Foreign Transaction Fee
Income Requirement
Intro Bonus
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
Rewards Rate
2X
Earn an unlimited 2X points per $1 spent on travel and dining purchases
1.5X
Earn an unlimited 1.5X points per $1 spent on all other purchases
Main Card Highlights
  • If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
  • Get up to $100 in Airline Incidental Credits annually and TSA Pre✓®/Global Entry Statement Credits of up to $100, every four years
  • 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
  • No limit to the points you can earn and your points don't expire
Annual Fee
$95
Authorized User Fee
$0
Foreign Transaction Fee
0%

Premium Rewards Card Earning Rates

The Bank of America Premium Rewards credit card features the following bonus categories and earning rates:

2X Travel

The Bank of America Premium Rewards credit card earns 2 Premium Rewards Points per $1 spent on travel purchases. Bank of American considers travel to be:

  • 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
  • Zoos

2X Dining

The Bank of America Premium Rewards credit card earns 2 Premium Rewards Points per $1 spent on dining purchases. This includes bars and taverns.

1.5X Non-Category

All other purchases on the Bank of America Premium Rewards credit card earns 1 Premium Rewards Point per $1 spent.

Premium Rewards Card Benefits

The Bank of America Premium Rewards credit card features the following card benefits:

$100 Airline Incidental Credit

Receive up to $100 in statement credits annually towards airline incidental purchases made to the Bank of America Premium Rewards credit card. This includes seat upgrades, baggage fees, ticket change & cancellation fees, in-flight entertainment & food, and lounge access fees.

Global Entry or TSA PreCheck Credit

Receive a statement credit of up to $100 every 4 years as reimbursement for the Global Entry or TSA Pre✓ application fee charged to the Bank of America Premium Rewards credit card.

TSA PreCheck is for expedited screening through TSA checkpoints. Global Entry is for speeding through customs when re-entering the states and it also grants TSA PreCheck as well.

Preferred Rewards Client Bonus

As a Preferred Rewards Client, you'll be able to earn between 25% and 75% bonus points on your purchases with the Bank of America Premium Rewards credit card.

The amount of bonus points you earn is based on how much you have invested with Bank of America, Merrill Edge, or Merrill Lynch on a 3-month average across accounts.

Preferred Rewards
Tier Bonus Points
Preferred Rewards Gold 25% Bonus
Preferred Rewards Platinum 50% Bonus
Preferred Rewards Platinum Honors, Diamond, or Diamond Honors 75% Bonus

Premium Rewards Card Point Calculator

Find out how many Premium Rewards Points you can earn with the Bank of America Premium Rewards credit card as well as the cash value of those points. Results can be compared side-by-side credit cards featured on the site to see which earns you the most rewards.

Any spend entered into the primary card column (the first column) will carry over to all credit card calculators on the site, so there's no need to re-enter spend when viewing other credit cards.

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Credit Cards
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Compare A Card
Add a credit card to compare side by side based on spend, benefits and fees.
Card Selected: -
Category Spending
Change the order of the categories in the Category Spending section. This has an impact on cards that have spend limits and bonus caps on categories.
Resets all fields in the Category Spending section for all columns. Also clears all saved spend values that carry from calculator to calculator.
Add Categories
Search for categories and click 'Add Category' to add it to the calculator. If you want to be more specific, you can specify domestic or international spend.
Type at least 3 characters.
Currently Selected:
Spend Region:
Category Spending Total
The amount of rewards earned from card spending.
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Rewards & Bonuses
Extra Value
Use this field to add additional rewards to include in the calculation such as an intro or signup bonus.
Rewards & Bonus Total
The amount of rewards earned from card bonuses.
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Total Rewards
Grand Total
The total amount of rewards earned from the Category Spending and Rewards & Bonuses sections.
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Calculate Rewards Average Value
How much is 0 worth?
Average Value
This is how much we value the rewards earned with the card on average based on our valuations. Cards that may offer bonus/additional value are reflected here.
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Transfers To Partners
Redemptions to do with transferring rewards to partner loyalty programs and redeeming them for high value (when applicable). These redemption values typically require knowledge of the best transfer partners.
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Cash Back, Statement Credits
Redemptions to do with turning your rewards into cash back or using it as a statement credit to offset purchases made to the card.
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Travel
Redemptions to do with using your rewards towards travel such as airfare, hotels, and car rentals (not including transfers to partners).
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Gift Cards
Redemptions to do with using your rewards towards the purchase of gift cards.
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Calculate Reward Transfers To Partners
Calculate Card Cash Value
Grand Total
The total amount of rewards earned from the Category Spending and Rewards & Bonuses sections.
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Currency Worth
Enter how much you value a single rewards point or mile in cents or regional currency equivalent (X.XX). The value of cash back cannot be changed.
Rewards Cash Value
The average cash value of rewards earned in the Grand Total section based on the set Currency Worth.
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Monetary Bonuses
Extra Cash Value
Use this field to add additional cash value to the calculations.
Total Cash Value
The total cash value of all listed benefits plus the cash value of rewards earned.
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Fees
Annual Fee
This is the fee you must pay annually to have the card.
Authorized User Fee
This is the cost to add additional users or supplemental cards to the account. Enter total amount of authorized users.
#
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Total Card Value
Total Card Value
The final cash value of the credit card(s).
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Bank of America Credit Card Points Calculators

Click on a Bank of America credit card to calculate total rewards and the card's cash value based on your spend, how much you value the benefits, and annual fees.

Spend entered into credit card calculators will roll over to other credit card calculators on the site, so there's no need to re-enter spend when browsing credit cards.

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