Key Cardholder Benefits
- If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means you could earn 2.5-3.5 points on travel and dining purchases and 1.87-2.62 points on all other purchases, for every $1 you spend.
- No limit to the points you can earn and your points don't expire.
- 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.
- Get up to $100 in Airline Incidental Statement Credits annually and TSA PreCheck®/Global Entry Statement Credits of up to $100, every four years.
- No foreign transaction fees.
Bank of America points earned with the Bank of America Premium Rewards Card are worth 1 cent each on average. This means that 10,000 points are equal to $100 in value.
|Redemption option||Redemption value in cents|
|Redeeming points for airfare||1 - 1.2|
|Redeeming points for other travel||1|
|Redeeming points for dining||1|
|Redeeming points for cash back||0.6|
Calculator: Bank of America Points To Dollars: Cash Value & Calculator
The Bank of America Premium Rewards credit card has a $95 annual fee.
Premium Rewards Points 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.
Earning Rate Comparison
Want to know how the Bank of America Premium Rewards Card earning rates stack up against other Bank of America credit cards? The table below lists out the earning rates per $1 spent for all credit card partners so you can see where it stands.
How are points calculated for the Bank of America Premium Rewards credit card?
Earn an unlimited 2 points for every $1 spent on travel and dining and unlimited 1.5 points for every $1 spent on all other purchases. If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase.
Does the Bank of America Premium Rewards credit card have an annual fee?
Yes. It has a $95 annual fee, but this can be offset by the $100 in annual airline incidental statement credits.
Is the card worth it?
In our opinion, the Premium Rewards credit card is worth it only if you have investments with Bank of America. If you don't, it's still a solid rewards card, but there are probably other cards that will earn you a better return on your spend.
Bank of America points calculators
Use our Bank of America points calculators to calculate credit card earnings and the cash value of points based on redemption. You can also check out our short and simple guide on Bank of America Rewards points.
Use our Bank of America credit card calculators to estimate how many points you can earn and the cash value of the card based on the spend amounts you enter, how much you value benefits, and annual fees.
Our calculators allow you to compare up to two additional credit cards side by side based on same or different spend. Plus, all spend amounts you enter in the Primary card's column rolls over to all credit card rewards calculators on the site!
Want to know how much Bank of America points are worth? Check out our guides and calculators on point value.