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Bank of America® Premium Rewards® credit card

The Points Guy's Summary:

If you're a Bank of America Preferred Rewards customer, 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 get 2x points on travel and dining and 1.5x points on everything else.

  • 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 Edge® and Merrill Lynch® 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
Apply Now
using Bank of America's secure application
Intro APR on Purchases N/A
Regular APR 18.24% - 25.24% Variable APR on purchases and balance transfers
Annual Fee $95
Balance Transfer Fee Either $10 or 3% of the amount of each transaction, whichever is greater.
Recommended Credit Excellent/Good
Essential Reading
Bank of America® Premium Rewards® credit card
Point Value 1.0 cents

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.