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
|Rewards Avg Value|
|Authorized User Fee|
|Foreign Transaction Fee|
Premium Rewards Card Earning Rates
The Bank of America Premium Rewards credit card features the following bonus categories and earning rates:
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:
- Trailer parks
- Motor home and recreational vehicle rentals
- Car rental agencies
- Truck and trailer rentals
- Cruise lines
- Travel agencies
- Tour operators
- Passenger trains
- Boat rentals
- Parking lots and garages
- Tolls and bridge fees
- Tourist attractions and exhibits
- Amusement parks
The Bank of America Premium Rewards credit card earns 2 Premium Rewards Points per $1 spent on dining purchases. This includes bars and taverns.
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.
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 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.