Bank of America® Premium Rewards® Credit Card review

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Advertiser Disclosure

Interest Rate: Purchases
15.99% ‐ 22.99% (Variable)
Balance Transfer
15.99% ‐ 22.99% (Variable)
Rewards
1.5 - 2 points
Signup Bonus
50000 points (after spending $3,000)


8.9/10
Informr score
The Bank of America® Premium Rewards® Credit Card currently has an Informr score of 8.9 out of 10. This score is based on our evaluation of 23 sources including reviews from users and the web's most trusted critics.

Am I eligible?


Bank of America® Premium Rewards® Credit Card is typically available to those with good credit scores (650 or greater).
To get this card, you must also:
Yes Be a permanent or temporary resident of USA

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...


WalletHub

One of the best rewards cards for people with excellent credit who like to travel and dine out.

- John S Kiernan, WalletHub
The Wirecutter

The card offers 2 points per dollar spent on travel and dining and 1.5 points on all other spending—but the real value comes for Bank of America savings and investment clients. A $20,000 deposit in a BofA savings or investment account earns you a 25% rewards bonus on all spending. $100,000 gives you...

- Emily Long, The Wirecutter
MoneyUnder30

If you’re a regular traveler and want a credit card that gives you both cash back and luxury travel benefits, Bank of America® Premium Rewards® credit card might be the card for you. If you’re a regular traveler and want a credit card that gives you both cash back and luxury travel benefits, this is...

- Laura Cook, MoneyUnder30
UponArriving

The Bank of America Premium Rewards Credit Card is a solid travel rewards card. I”m not too crazy about the earning structure but it can be extremely lucrative for those with a lot in assets. The $100 travel credit is also nice for a $95 annual fee card but it is quite restrictive. It also helps tha...

- Daniel, UponArriving
Credit Fast

A solid option for people who travel. You get a host of benefits with relatively minor setbacks. As long as you use your card in a smart manner, you can benefit from it. So take a look and see if it’ll work for you with your travel itinerary.

- Monica Kowollik, Credit Fast

Details


Interest Rates
Regular APR Interest Rate 15.99% ‐ 22.99% (Variable)

This APR will vary with the market based on the Prime Rate.

Balance Transfer Interest Rate 15.99% ‐ 22.99% (Variable)

This APR will vary with the market based on the Prime Rate.

Cash Advance Interest Rate 18.99% ‐ 25.99% (Variable)

This APR will vary with the market based on the Prime Rate.

Rates & Fees
Annual Fee $95.00
Balance Transfer Fee 3%

Minimum of $10

Cash Advance Fee 3%

Minimum of $10

Foreign Transaction Fee $0.00
Over Limit Fee $0.00
Late Payment Fee $40.00

Maximum

Promotions
Sign up bonus 50000 points after spending $3,000

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

If you're a Bank of America Preferred Rewards client, you can enjoy 25% - 75% rewards bonus on every purchase. That means you could earn up to 3.5 points per $1 on travel and dining purchases and up to 2.62 points per $1 on all other purchases

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 No
Concierge Service Yes
Price Protection No
Fraud Protection Yes
Free Credit Scores Yes
Wireless Payments Apple Pay, Samsung Pay, Android Pay
Virtual Cards No
Additional Benefits
  • Get up to a $100 Airline Incidental Statement Credit annually
  • Get up to $100 Airport Security Statement Credit towards TSA Pre✓ or Global Entry Application fee, every four years
  • Trip Cancellation, Delay, and Interruption Insurance
  • Baggage Delay Insurance
  • Lost Luggage Insurance
  • Online Shopping Security
  • Overdraft Protection
Eligibility
Minimum Security Deposit $0
Minimum Age 18
Minimum Personal Income
Temporary Residents No
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Additional comments
Terms & Conditions Official Terms & Conditions
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Information in this article is believed to be accurate at the time it was written, but terms and conditions may change at any time. All information is presented without warranty or guarantee. Please verify all terms and conditions of any credit card prior to applying.

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