Bank of America Premium Rewards Credit Card
Best for: BofA Preferred Rewards members who travel and dine out
Pros
- The yearly credits can outweigh the fee
- No surcharge on purchases made abroad
- A large lift for Preferred Rewards members
Cons
- Carries a yearly fee
- There are no transfer partners
- Lounge entry is not included
Rates and offers change. Confirm today's terms on the issuer's official site before applying. Independent comparison — not financial advice.
The Premium Rewards card earns its $95 fee back fast through up to $200 in annual credits ($100 airline incidental plus up to $100 Global Entry/TSA PreCheck), then layers on 2x travel and dining and 1.5x everything else with no foreign fee. The real reason to hold it is Preferred Rewards: top-tier members can boost earning by up to 75%, which is where it pulls ahead of a Chase Sapphire Preferred for BofA loyalists. If you don't bank with BofA, the lack of transfer partners and no lounge access make pricier cards a better fit. Use the airline credit and the fee is effectively $0 net; verify the credit terms on BofA's site.
Bank of America Premium Rewards Credit Card at a glance
| Issuer | Bank of America |
| Card network | Visa |
| Annual fee | $95 |
| Rewards rate | 2 points per $1 on travel and dining, 1.5 points per $1 on all other purchases (boosted up to 75% with Preferred Rewards) |
| Welcome bonus | 50,000+ bonus points after meeting the minimum spend |
| Intro APR | None |
| Regular APR | 19.24%–29.24% variable |
| Foreign transaction fee | None |
| Credit needed | Good to Excellent (700+) |
| Airport lounge access | No |
| Best for | BofA Preferred Rewards members who travel and dine out |
Rewards & perks
- A $100 yearly airline incidental credit
- As much as $100 toward Global Entry or TSA PreCheck
- Preferred Rewards members earn considerably more
Pros
- The yearly credits can outweigh the fee
- No surcharge on purchases made abroad
- A large lift for Preferred Rewards members
Cons
- Carries a yearly fee
- There are no transfer partners
- Lounge entry is not included
Who should apply
- A credit score in the good-to-excellent range
- Enough income to back the credit line
- The Preferred Rewards multiplier depends on qualifying balances
Before you apply: card terms change often. Confirm the current annual fee, APR, welcome offer and rewards on the official Bank of America site. CreditCardCompare is an independent comparison resource, not the card issuer, and this is not financial advice.
How it compares with similar USA cards
| Card | Annual fee | Rewards | Intro APR | Foreign fee | Credit needed | Rating |
|---|---|---|---|---|---|---|
Bank of AmericaPremium Rewards 4859 9001 7434 3319 VALID THRU 06/31ALEX MORGAN Bank of America Premium Rewards Credit CardBofA Preferred Rewards members who travel and dine out |
$95/yr | 2 points per $1 on travel and dining, 1.5 points per $1 on all other p… | None | None | Good to Excellent (700+) | |
ChaseSapphire Preferred 4574 7062 5717 3216 VALID THRU 11/31SAM RIVERA Chase Sapphire Preferred CardMid-tier travelers who want transfer partners without a premium fee |
$95/yr | 5x Chase Travel; 3x dining, gas and EV charging, streaming and online… | None | None | Good to Excellent (700+) | |
Chase Sapphire ReserveHeavy travelers who'll actually use the lounges and travel credit |
$795/yr | 8x Chase Travel; 4x flights and hotels booked direct; 3x dining; 1x ot… | None | None | Excellent (740+) | |
Capital OneVenture Rewards 4491 2049 3838 5912 VALID THRU 01/30TAYLOR REED Capital One Venture RewardsTravelers who want flat-rate miles with zero category tracking |
$95/yr | 5x hotels & cars via portal, 2x miles on all other purchases | None | None | Good to Excellent (700+) |
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