Bank of America^® Premium Rewards^® credit card Review

Last Updated on August 3, 2026

Offer Rating

4/ 5

By Our Content Team

A huge welcome offer and generous rewards rate make this a solid travel credit card for anyone looking for flexible rewards.

Editor

4.0

CompareCredit Score

Current Offer
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

on Bank of America's secure site

Welcome Offer60,000 online bonus points - a $600 value - after you make at least $4,000 in purchases in the first 90 days of account opening
Rewards Rate2 points for every $1 spent on travel and dining purchases, and 1.5 points for every $1 spent on all other purchases
Extra PerksGet up to $200 in combined airline incidental and airport expedited screening statement credits
Annual Fee$95
Credit Score NeededExcellent, Good
Card Brand

Product Details

Select to apply online
Low $95 annual fee.
Receive 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.
Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points for every $1 spent on all other purchases. No limit to the points you can earn and your points don't expire as long as your account remains open.
Turn daily purchases into everyday wins. Simply use your Premium Rewards credit card for the things you already buy - from gifts to getaways - BofA Rewards^™ members earn more points.

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 BofA Travel.
Get up to $100 in Airline Incidental Statement Credits annually and TSA PreCheck^®/Global Entry Statement Credits of up to $100, every four years.
Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delays and lost luggage.
No foreign transaction fees.
This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.

Select to apply online
Low $95 annual fee.
Receive 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.
Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points for every $1 spent on all other purchases. No limit to the points you can earn and your points don't expire as long as your account remains open.
Turn daily purchases into everyday wins. Simply use your Premium Rewards credit card for the things you already buy - from gifts to getaways - BofA Rewards^™ members earn more points.

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 BofA Travel.
Get up to $100 in Airline Incidental Statement Credits annually and TSA PreCheck^®/Global Entry Statement Credits of up to $100, every four years.
Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delays and lost luggage.
No foreign transaction fees.
This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.

Our Expert Review

Editorial Disclosure

Why We Like It

Editorial Disclosure

Offer Rating

4/ 5

By Our Content Team

Key Benefit

Earn a lucrative welcome offer and enjoy generous travel credits

The welcome offer on this premium travel rewards card from Bank of America is certainly an eye-catcher. With the Bank of America^® Premium Rewards^® credit card, new cardholders earn 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. But the big bonus is just the beginning of what this card has to offer.

For ongoing rewards, you earn 2 points for every $1 spent on travel and dining purchases, and 1.5 points for every $1 spent on all other purchases. With that lucrative rewards rate, points can add up fast and before you know it, you'll be ready for a big redemption. The points you earn don't expire as long as your account remains open, and there's no limit to how many you can earn. Plus, redeeming your points is easy with options like a statement credit, gift cards, and more.

To top it off, get up to $100 in Airline Incidental Statement Credits annually and TSA PreCheck^®/Global Entry Statement Credits of up to $100, every four years. There are no foreign transaction fees with the Bank of America^® Premium Rewards^® credit card, but there is an annual fee of $95.

Pros & Cons

Pros

A top-tier welcome offer with a $600 value
Extra travel perks like airline credits and no foreign transaction fees
Flexible redemption options and your points don't expire as long as your account remains open

Cons

The annual fee isn't waived the first year
There's no intro APR on purchases or balance transfers

Pros Explained

A top-tier welcome offer with a $600 value: This bonus is a great way to kickstart your rewards earning and be on your way to your first rewards redemption with this travel credit card.
Extra travel perks like airline credits and no foreign transaction fees: You won't have to worry about getting hit with extra fees when using this card abroad, and can get reimbursement credits for certain travel expenses.
Flexible redemption options and your points don't expire as long as your account remains open: 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 BofA Travel.

Cons Explained

The annual fee isn't waived the first year: Some cards offer a $0 annual fee for the first year as a way to entice new customers.
There's no intro APR on purchases or balance transfers: We don't recommend carrying a balance on this card. If you only make the minimum payment, the interest charges can pile up quick and be very costly!