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Bank of America® Premium Rewards® Credit Card review

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Advertiser Disclosure

Annual Fee
$95.00
Interest Rate: Purchases
16.24% ‐ 23.24% (Variable)
Interest Rate: Purchases
16.24% ‐ 23.24% (Variable)
Balance Transfer
16.24% ‐ 23.24% (Variable)
Balance Transfer
16.24% ‐ 23.24% (Variable)
Rewards
1.5 - 2 points
Rewards
1.5 - 2 points
Signup Bonus
50000 points (after spending $3,000)
Signup Bonus
50000 points (after spending $3,000)


9/10
Informr score
The Bank of America® Premium Rewards® Credit Card currently has an Informr score of 9 out of 10. This score is based on our evaluation of 29 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...


FinanceBuzz
FinanceBuzz

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
Bankrate
Bankrate

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...

- Brendan Dyer, Garrett Yarbrough, Mariah , Bankrate
MyBankTracker
MyBankTracker

A strong contender because you can earn more points per dollar, plus there’s the option to receive a sign-up bonus, bonus reward points, and extra travel statement credits.

- Valencia Patrice Higuera, MyBankTracker
Investopedia
Investopedia

The card's a potentially unequaled choice for high-worth individuals who hold significant funds in Bank of America or Merrill accounts and so qualify for their Preferred Rewards program. In addition to other program perks, such people earn rewards rates that can outpace any other travel credit card...

- Ben Luthi, Maddy Simpson, Investopedia
NerdWallet
NerdWallet

Frequent travelers looking for flexibility in how they redeem rewards should give this card a look, especially if they're already Bank of America® customers.

- Ellen Cannon, NerdWallet

Details


Interest Rates
Regular APR Interest Rate 16.24% ‐ 23.24% (Variable)

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

Balance Transfer Interest Rate 16.24% ‐ 23.24% (Variable)

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

Cash Advance Interest Rate 16.24% ‐ 23.24% (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 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
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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