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 |
| Regular APR | Standard APR 19.49% - 27.49% variable |
| Intro APR | None |
| Rewards Rate | 1.5x–3.5x points |
| Sign-up Bonus | 75,000 online bonus points |
| Other Fees | Balance Transfer Fee 4% of each transaction No foreign transaction fees |
Overview
Pros & Cons
What's great
- Generous sign-up bonus
- High rewards rate on travel and dining
- No foreign transaction fees
- Airline incidental statement credits
- TSA PreCheck or Global Entry credit
- Lounge membership
- Luxury perks
Things to consider
- High annual fee
- High regular APR
- 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...