Review
Bank of America® Premium Rewards® Elite Credit Card Review: Premium Travel Perks for Bank of America Clients
Looking for a luxury travel card? The Bank of America® Premium Rewards® Elite Credit Card offers high-value rewards and statement credits, especially if you're an existing Bank of America client.
| Annual Fee | $550.00 |
| Sign-up Bonus | 75,000 bonus points |
| Rewards Rate | 1.5x-2x Points |
| Intro APR | None |
| Regular APR | Standard APR 19.49% - 27.49% variable |
| Other Fees | Balance Transfer Fee 5% of each transaction |
Overview
Pros & Cons
What's great
- Generous sign-up bonus
- No foreign transaction fees
- High rewards rate
- Significant statement credits for travel and lifestyle
- Lounge membership
- Extensive luxury travel perks and insurance benefits
Things to consider
- High annual fee
- No intro APR period
- High regular APR
- High balance transfer fee
Benefits
Drawbacks
Decision Guidance
Summary
The Bank of America® Premium Rewards® Elite Credit Card is a difficult card to rate due to its highly specific target audience. Its value is almost entirely contingent on being a Bank of America Preferred Rewards member, particularly at the Platinum...