Am I eligible?
To get this card, you must also:
Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.
What the Critics Are Saying...
- Lance Cothern, Credit KarmaThe Bank of America® Premium Rewards® Elite credit card may be a good fit people who are Bank of America enthusiasts and are already members of the Premium Rewards program. It might also be a solid choice for frequent travelers who plan to take advantage of some of the card’s travel perks or those w...
- Jason Steele, Money CrashersThere was a time when there were only one or two ultra-premium travel rewards cards on the market at any given time. But now, most major card issuers have at least one card with an annual fee over $500. To compete in this field a card has to stand out, which the Bank of America Premium Rewards Elite...
- Robin Saks Frankel, ForbesFor those at the highest tiers of the Preferred Rewards program, the $550-annual-fee Bank of America® Premium Rewards® Elite credit card* outearns most other premium travel cards. But for those who don’t qualify for a higher earning rate via Preferred Rewards, the card’s value is greatly diminished....
- Jarrod West, Upgraded PointsFor those who want a premium travel rewards card with luxury perks such as airport lounge access, but prefer a rewards program with easy redemption options, then the Bank of America Premium Rewards Elite card is an excellent option. Further, the card makes tons of sense for those that have status in...
- Ian Snyder, AwardWalletAll things considered, the Bank of America Premium Elite Card falls short of the competition. The welcome offer is compelling: $625 in value when redeemed for airfare. But, with its lackluster earning rates, the ongoing return just doesn't cut it. There are so many other cards that offer a better re...
Details
| Interest Rates | |
|---|---|
| Regular APR Interest Rate |
20.24% ‐ 27.24% (Variable) This APR will vary with the market based on the Prime Rate. |
| Balance Transfer Interest Rate |
20.24% ‐ 27.24% (Variable) This APR will vary with the market based on the Prime Rate. |
| Cash Advance Interest Rate |
23.24% ‐ 30.24% (Variable) This APR will vary with the market based on the Prime Rate. |
| Rates & Fees | |
| Annual Fee | $550.00 |
| Balance Transfer Fee |
3% |
| Cash Advance Fee | 3% |
| Foreign Transaction Fee | $0.00 |
| Over Limit Fee | $0.00 |
| Late Payment Fee |
$40.00 Maximum |
| Promotions | |
| Sign up bonus |
75000 points after spending $5,000 On purchases within the first 3 months. |
| Rewards | |
| All Purchases | 1.5 points per $1 spent |
| Restaurants | 2 points per $1 spent |
| Gas | No |
| Groceries | No |
| Hotels | No |
| Travel | 2 points per $1 spent |
| Pharmacy | No |
| Bills | No |
| Additional Details |
Preferred Rewards members earn 25% – 75% more points on every purchase. This means clients could earn up to 3.5 points on travel and dining purchases, and up to 2.62 points on all other purchases, for every $1 they spend. |
| Features & Benefits | |
| Additional Card Holders | Yes |
| Travel Accident Insurance | No |
| Car Rental Insurance | No |
| Car Rental Discount | No |
| Extended Warranty | No |
| Purchase Protection | No |
| Zero Liability | Yes |
| No Foreign Transaction Fees | Yes |
| Emergency Assistance | Yes |
| Concierge Service | Yes |
| Price Protection | No |
| Fraud Protection | Yes |
| Free Credit Scores | Yes |
| Wireless Payments | Apple Pay, Samsung Pay, Google Pay |
| Virtual Cards | No |
| Additional Benefits |
|
| Eligibility | |
| Minimum Security Deposit | $0 |
| Minimum Age | 18 |
| Minimum Personal Income | |
| Temporary Residents | No |
| More | |
| Additional comments | - |
| Terms & Conditions | Official Terms & Conditions |
| Suggest a correction |
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