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Bank of America® Premium Rewards® Credit Card review

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Advertiser Disclosure

Annual Fee
Interest Rate: Purchases
19.74% ‐ 26.74% (Variable)
Interest Rate: Purchases
19.74% ‐ 26.74% (Variable)
Balance Transfer
19.74% ‐ 26.74% (Variable)
Balance Transfer
19.74% ‐ 26.74% (Variable)
1.5 - 2 points
1.5 - 2 points
Signup Bonus
50000 points (after spending $3,000)
Signup Bonus
50000 points (after spending $3,000)

Informr score
The Bank of America® Premium Rewards® Credit Card currently has an Informr score of 8.7 out of 10. This score is based on our evaluation of 28 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...


The Bank of America Premium Rewards card can be an average-earning rewards card or one that earns at a substantially high rate when compared to other $95 annual fee cards if you qualify for the Preferred Rewards Membership program. It all depends on whether you have a large enough savings account to...

- Mariah Ackary, Bankrate

As a travel credit card, the Bank of America Premium Rewards credit card is best suited for individuals who want to earn travel rewards and take advantage of travel benefits. The $95 annual fee puts this card into a category of mid-range travel credit cards, competing with cards from issuers such as...

- Ben Walker, FinanceBuzz
The Ascent
The Ascent

The bonus offer, premium travel & dining rewards, and up to $200 in travel-related statement credits make this a compelling offer for travelers who can justify paying an annual fee.

- Lyle Daly, The Ascent

With such a generous statement credit offer on airline incidentals, the Bank of America Premium Rewards card doesn’t require much of a commitment – as long as you spend enough on incidental purchases, such as baggage fees, to take advantage. Its rewards rate, while not the most impressive on its own...

- Kelly Dilworth,

If you don't mind the moderate $95 annual fee, the Bank of America® Premium Rewards® credit card could be a great choice, both for frequent travelers and those who tend to spend significantly on dining. It has a few great travel perks and offers a higher than normal earning rate on all purchases mad...

- Sophia Mendel, ValuePenguin


Interest Rates
Regular APR Interest Rate 19.74% ‐ 26.74% (Variable)

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

Balance Transfer Interest Rate 19.74% ‐ 26.74% (Variable)

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

Cash Advance Interest Rate 22.74% ‐ 29.74% (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


Sign up bonus 50000 points after spending $3,000

On purchases within the first 3 months.

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 Yes
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, Google 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
Minimum Security Deposit $0
Minimum Age 18
Minimum Personal Income
Temporary Residents No
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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