Bank of America® Premium Rewards® Credit Card

Card Value & Bank of America Points Calculator
Bank of America® Premium Rewards® Credit Card

The Bank of America® Premium Rewards® credit card earns a solid return across travel and dining spend while offering a 1.5% return on all other purchases. You'll be able to enjoy annual travel credits and the ability to earn up to 75% bonus points based on your tier in the Preferred Rewards program.

Rewards Rates

2X
Earn an unlimited 2 points for every $1 spent on travel and dining purchases.
1.5X
Earn an unlimited 1.5 points for every $1 spent on all other purchases.

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.

Rewards Value

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

Annual Fees

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.

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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.

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FAQ

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.

Looking for the best travel credit cards? Check out a few of our top picks below and use our calculators to find out how much you can earn!

Find the perfect card for you

Our Credit Card Rewards calculator can help you find the perfect card and offers based on your monthly and yearly spending habits. Simply enter your spend amounts into our tool and let us do the work for you!

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