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Ad Disclosure

Bank of America Premium Rewards Review

Bank of America Premium Rewards Credit Card

Rating: 5 Stars

Bottom Line:
Higher Than Average Travel Rewards Rate Across All Purchases

Apply Now
Card DetailsThe OfferIs it Worth It?
Pros and ConsWhy 5 Stars?Fees
Benefits

TABLE OF CONTENTS

  • Card Details
  • Offer Highlights
  • Is Bank of America Premium Rewards worth it?
  • Pros
  • Cons
  • Why 5 Stars?
  • Regular APR
  • Intro APR
  • Fees
  • Perks
  • Overall
  • Fees
  • Benefits

Card Details

Regular APR:17.99% – 24.99% (Variable)
Intro APR (Purchases):None
Intro APR (Balance transfers):None
Rewards Rate:Earn unlimited 2 points for every $1 spent on travel and dining purchases

Earn unlimited 1.5 points per $1 spent on all other purchases
Credit Needed:(670 – 850) Excellent/Good
Annual Fee:$0
Card Brand:Visa

*See online credit card application for details on the terms and conditions.

Offer Highlights

  • Click APPLY NOW to apply online
  • Receive 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $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
  • 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 $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections
  • No Foreign Transaction Fees
  • Low $95 annual fee

Is Bank of America Premium Rewards worth it?

Bank of America Premium Rewards is a strong card for cardholders who spend a lot on travel and dining, with 2 points per dollar in those categories and 1.5 points per dollar on all other purchases.

Pros

  • Intro bonus of 50,000 points after spending $3,000 in purchases in first 90 days after account opening – that’s $500 in value
  • Travel rewards can be earned not only on airlines, hotels, car rental agencies, but also entertainment attractions like museums and amusement parks, and transportation expenses like taxis and parking garages
  • No foreign transaction fee

Cons

  • High regular APR
  • $95 annual fee

Why 5 Stars?

Regular APR


4 Stars

Intro APR


4 Stars

Fees


5 Stars

Perks


5 Stars

Overall


5 Stars

Fees

Foreign Transaction Fee$0
Balance Transfer Fee3% of the amount of each transfer or $10, whichever is greater
Cash Advance FeeSee Terms
Penalty APRUp to 29.99%

Benefits

$0 Fraud Liability
Auto Rental Collision Damage Waiver
Concierge Service
Extended Warranty Program
Travel Accident Insurance
Lost Luggage Reimbursement
Purchase Protection
Roadside Assistance
Travel Assistance
Get Started with Bank of America Premium Rewards

Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.

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Best Bank of America Credit Cards, Best Credit Cards For Extended Warranties, Best Credit Cards For Good Credit, Best Credit Cards For Rental Car Insurance, Best Credit Cards For Roadside Assistance, Best Credit Cards For Travel Insurance, Best Credit Cards To Book Flights, Best No Foreign Transaction Fee Credit Cards, Best Purchase Protection Credit Cards, Best Travel Credit Cards, Best Travel Credit Cards With No Annual Fee, Best Visa Credit Cards

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