Bank of America Premium Elite Card - Point Calculator & Benefits

Premium Rewards Points Calculator
Review the benefits of the Bank of America Premium Rewards Elite Card and calculate how many points you can earn and the cash value of those points.
Advertiser Disclosure
Last Updated 2022-01-04
This card is only available through Bank of America branches. Online applications open up at the end February 2022.

The Bank of America® Premium Rewards® Elite credit card is a premium travel credit card offered by Bank of America. It's an enhanced version of the Bank of America® Premium Rewards® credit card as it earns points at the same rate, but offers $450 in annual credits, lounge access, and better travel/purchase insurance.

Like other Bank of America credit cards, the Premium Rewards Elite credit card works best if you're part of Preferred Rewards program. The program offers 25% to 75% bonus points along with a list of other benefits based on how much you have invested with Bank of America and their partners.

Overall, there's not much to the Premium Rewards Elite credit card. If you have the Bank of America Premium Rewards credit card or have been thinking about getting it, picking up the Premium Rewards Elite credit card instead could grant you a few additional travel benefits.

Card Details At-A-Glance

Issuing Bank
Card Network
Rewards Earned
Rewards Avg Value
Annual Fee
Authorized User Fee
Foreign Transaction Fee
Income Requirement
This card is currently available in branch only.
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
  • Receive up to $300 in statement credits annually towards airline incidental purchases made to the card including seat upgrade, baggage fees, and lounge access fees.
  • Receive up to $150 in statement credits annually towards lifestyle purchases which includes streaming services fitness subscriptions, rideshare, and food delivery.
  • Enjoy complimentary Priority Pass Select membership when you enroll as a Premium Rewards Elite credit cardholder.
  • Save 20% of your points on airfare redemptions made through Bank of America Travel Center or concierge.
  • 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
$550
Authorized User Fee
$0
Foreign Transaction Fee
0%

Premium Rewards Elite Card Earning Rates

The Premium Rewards Elite credit card features the following bonus categories:

As with other Bank of America credit cards, you can earn 25% to 75% more points as a Preferred Rewards member. This means you could earn up to 3.5X on travel and dining purchases, and up to 2.625X on all other purchases per $1 spent.

2X Travel

The Premium Rewards Elite credit card earns 2 points per $1 spent on travel purchases.

2X Dining

The Premium Rewards Elite credit card earns 2 points per $1 spent on dining purchases.

1.5X Everything Else

The Premium Rewards Elite credit card earns 1 point per $1 spent on everything else.

Premium Rewards Elite Card Benefits

The Premium Rewards Elite credit card features the following benefits:

$300 Airline Incidental Credit

Receive up to $300 in statement credits annually towards airline incidental purchases made to the card. This includes seat upgrades, baggage fees, and lounge access fees.

This does not include airfare.

$150 Lifestyle Credits

Receive up to $150 in statement credits annually towards lifestyle purchases which includes streaming services fitness subscriptions, rideshare, and food delivery.

$100 Fee Credit For Global Entry/TSA PreCheck

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 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.

Priority Pass Select Membership

You will be able to enjoy complimentary Priority Pass Select membership when you enroll as a Premium Rewards Elite credit cardholder.

20% Savings On Travel Center Redemptions

When you redeem your rewards points through the Bank of America Travel Center or with the concierge, you'll save 20% of your points when booking airfare. This bumps up the point value for these redemptions to 1.2 cents each.

Preferred Rewards Client Bonus

As a Preferred Rewards Client, you'll be able to earn between 25% and 75% bonus points on your purchases. 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

Visa Infinite Benefits

The Premium Rewards Elite credit card is part of the Visa Infinite network, so you'll receive a handful of Visa Infinite benefits such as:

  • Visa Infinite Luxury Hotel Collection
  • Visa Infinite Concierge Services
  • Visa Infinite Wine and Food
  • Travel & Purchase Insurance

Premium Rewards Elite Card Point Calculator

Find out how many Bank of America Rewards Points you can earn with the Premium Rewards Elite Credit Card Point Calculator 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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