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
|Rewards Avg Value|
|Authorized User Fee|
|Foreign Transaction Fee|
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.
The Premium Rewards Elite credit card earns 2 points per $1 spent on travel purchases.
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
- $150 Lifestyle Credits
- $100 Fee Credit For Global Entry/TSA PreCheck
- Priority Pass Select Membership
- 20% Savings On Travel Center Redemptions
- Preferred Rewards Client Bonus
- Visa Infinite 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.
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 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.