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Bank of America® Premium Rewards® credit card

Credit Card Offer from our Partner
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using Bank of America's secure application
Annual Fee  $95
50,000 points
Welcome Offer
$500 TPG Valuation*
Receive 50,000 online bonus points - a $500 value - after you make at least $3,000 in purchases in the first 90 days of account opening

Earning Rewards

  • 2X Earn unlimited 2 points for every $1 you spend on travel and dining purchases.
  • 2X Earn 2 points for every $1 spent on grocery store purchases - now through 12/31/21.
  • 1.5X Earn 1.5 points for every $1 you spend on all other purchases.

Why We Like It

In general, this card is about diversifying your stock of points and using them for the rewards that normal airline miles or credit card points can’t cover.

More Information

  • Receive 50,000 online 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 you spend on travel and dining purchases. Plus, earn 2 points for every $1 spent on grocery store purchases - now through 12/31/21.
  • Earn 1.5 points for every $1 you spend on all other purchases. No limit to the points you can earn and your points don't expire.
  • If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means you could earn up to 3.5 points for every $1 spent on travel and dining purchases.
  • 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 $100 in Airline Incidental Statement Credits annually and TSA Pre✓®/Global Entry Statement Credits of up to $100, every four years
  • No Foreign Transaction Fees
  • Low $95 annual fee
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
  • 15.99% - 22.99% Variable APR on purchases and balance transfers
  • $95
  • Either $10 or 3% of the amount of each transaction, whichever is greater.
  • Excellent/Good
Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

If you’re a Bank of America Preferred Rewards member, that’s where the value of this Premium Rewards card really comes in strong – you can get a 25%-75% rewards bonus on every purchase! Outside of the decent sign-up bonus, you’ll also earn 2 points per $1 on travel and dining purchases and 1.5 points per $1 on all other purchases.

Essential Reading

Not to be underestimated: Bank of America Premium Rewards credit card review
Bank of America Launching New Premium Rewards Card With Tiered Rewards

Bank of America® Premium Rewards® credit card

Point Value
1.0 cents
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There isn’t a strict mathematical formula at work here. At some point we’d like to create a system that could calculate a precise value based on award availability, fees, award levels and ease of accrual, but for now these valuations are based on a combination of how much TPG would pay to buy points if given the opportunity, and the overall value I could get from redeeming them.
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Editorial Note: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.