Bank of America
Bank of America® Premium Rewards® Credit Card
Key Features
| Annual Fee | $95.00 |
| Intro APR | None |
| Regular APR | Standard APR 19.49% - 27.49% variable |
| Other Fees | Balance Transfer Fee 4% of each transaction |
| Network | Visa |
About this card
The Bank of America® Premium Rewards® Credit Card is a good option for those who can take advantage of its rewards program and benefits, but it's not without its drawbacks. The generous sign-up bonus, solid rewards rate on travel and dining, and valuable travel credits (airline incidental and TSA PreCheck/Global Entry) make it attractive. The absence of foreign transaction fees is also a plus. However, the high regular APR is a significant disadvantage, especially for those who tend to carry a balance. The annual fee, while relatively low for a premium card, is still a factor to consider. Overall, the card offers a good value proposition if used responsibly and if the benefits align with the cardholder's spending habits and travel preferences. It strikes a reasonable balance between rewards and costs, warranting a rating in the 'Good' range, but the high APR prevents it from achieving an 'Excellent' rating.
Pros & Cons
What's great
- Generous sign-up bonus
- Good rewards rate
- No foreign transaction fees
- Airline incidental fee credit
- TSA PreCheck or Global Entry fee credit
- Travel insurance protections
Things to consider
- Annual fee
- High regular APR
- Balance transfer fee
What this card offers
Sign-up bonuses
- 60,000 online bonus points — a $600 value — after you make at least $4,000 in purchases in the first 90 days of account opening
Rewards
- 2 points per $1 spent on travel purchases
- 2 points per $1 spent on dining purchases
- 1.5 points per $1 spent on all other purchases
Other features
- Get up to $100 in Airline Incidental Statement Credits annually for qualifying purchases such as seat upgrades, baggage fees, in-flight services, and airline lounge fees - automatically applied to your card statement
- Get up to $100 in Airport Security Statement Credits for TSA PreCheck® or Global Entry application fees, every four years
- No foreign transaction fees
- No limit to the points you can earn and points don't expire as long as the account remains open.
- Flexibility to choose how you redeem your points – redeem for cash back as a deposit into eligible Bank of America® checking or savings accounts, for credit to eligible Merrill® accounts including 529 accounts, as a statement credit to your credit card, or for gift cards and purchases at the Bank of America Travel Center.
- Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delays, lost luggage and emergency evacuation and transportation.
- Shop with confidence, with excellent purchase protections like Warranty Manager Service, Return Protection and Purchase Security. These can help with repair, replacement or reimbursement on purchases, or extend the manufacturers' warranty.
- Feel safer on the road with our 24/7 Roadside Dispatch Program, plus added protection with Auto Rental Collision Damage Waiver.
- Enjoy a premium set of benefits when you use your Premium Rewards® card to book through the Visa Signature Luxury Hotel Collection.
- The Visa Signature® concierge service gives you access to concierges who can help with travel planning, restaurant recommendations and event reservations.
- We block potential fraud if abnormal patterns are detected and let you know if we suspect fraudulent activity. Plus, you always get a $0 Liability Guarantee for fraudulent transactions.
- An optional service to help prevent declined purchases, returned checks or other overdrafts when you link your eligible Bank of America® checking account to your credit card. No transfer fees. Other fees may apply.
- Opt for paperless credit card statements and increase account security while reducing paper consumption.
- Discover more ways to pay by adding your Bank of America® credit card to your mobile device then shop in-store or in-app using Apple Pay®, Google Pay™ or Samsung Pay.
- Access to our award-winning Online and Mobile Banking. Bank on the go from almost anywhere quickly and securely. Pay your credit card bill online, transfer funds, check available credit and more.
- Stay on top of your balances and due dates. Choose from several types of customer email or text alerts and let your phone tell you when payments are due and paid.
Additional Notes
This online only offer may not be available if you leave this page, if you visit a Bank of America financial center or call the bank. You can take advantage of this offer when you apply now. Note: minimum payments are applied to lower-interest balances first. Additional payments are applied to higher-interest balances first.