Bank of America Premium Rewards Card
$95/yr
Bank of America
Bank of America Premium Rewards Card
4.3
(1,123 reviews)travelrewards
Reviewed by CardCompare Editorial Board
|CFP-reviewed|Updated April 2026A solid flat-rate travel card that really shines for Bank of America Preferred Rewards members. The base 1.5 points everywhere and 2x on travel/dining is good, but Platinum Honors members get a 75% bonus — effectively earning 3.5x on travel/dining and 2.625x on everything else.
Annual Fee
$95
Purchase APR
19.49% – 29.49%
Rewards
1.5x base rate
Sign-Up Bonus
$600 value
Credit Score
Excellent (750+)
Foreign Txn Fee
None
Who Should Get This Card
The Bank of America Premium Rewards Card is best suited for experienced cardholders who bank of america preferred rewards platinum honors members. The $95 annual fee pays for itself if you spend $6,334+/year on this card.
This card is great if you…
- Incredible with Preferred Rewards
- High flat rate (1.5x)
- $100 airline + $100 TSA credit
- Bank of America Preferred Rewards Platinum Honors members
Consider another card if you…
- $95 annual fee
- Best value requires $100K+ at BofA/Merrill
- Points worth 1¢ without Preferred Rewards
Rewards Breakdown
2 points per $1 on travel and dining, 1.5 points on everything else
| Category | Rate |
|---|---|
| Travel | 2x |
| Dining | 2x |
| Everything else | 1.5x |
Rewards Distribution
2x
top rate
Travel2x36%
Dining2x36%
Everything else1.5x27%
Sign-Up Bonus
60,000 points after spending $4,000 in 90 days
Fees & APR
| Annual Fee | $95 |
| Purchase APR | 19.49% – 29.49% |
| Balance Transfer Fee | 3% |
| Foreign Transaction Fee | None |
| Late Fee | Up to $40 |
Pros & Cons
Incredible with Preferred Rewards
High flat rate (1.5x)
$100 airline + $100 TSA credit
No foreign transaction fees
$95 annual fee
Best value requires $100K+ at BofA/Merrill
Points worth 1¢ without Preferred Rewards
The Bottom Line
The Good: The Bank of America Premium Rewards Card stands out for its incredible with preferred rewards. The welcome bonus worth $600 adds significant first-year value. No foreign transaction fees make it a strong pick for international spending.
The Not So Good: $95 annual fee. The $95 annual fee means you need to use the card actively to justify the cost. You'll need excellent credit (750+) to qualify.
Our Verdict: With an editor score of 8/10, the Bank of America Premium Rewards Card is one of our top-rated cards in its category. Make sure you'll earn at least $95 in value annually to justify the fee.
Frequently Asked Questions
What is the annual fee for the Bank of America Premium Rewards Card?▾
The Bank of America Premium Rewards Card has a $95 annual fee. Consider whether the rewards and perks you'll use offset this cost.
What is the sign-up bonus for the Bank of America Premium Rewards Card?▾
The Bank of America Premium Rewards Card currently offers a sign-up bonus worth approximately $600. 60,000 points after spending $4,000 in 90 days Terms apply — always verify the current offer directly with the issuer.
How do the rewards work on the Bank of America Premium Rewards Card?▾
The Bank of America Premium Rewards Card earns 1.5x points on all purchases, and up to 2x points in select bonus categories. Points can be redeemed for travel, cash back, gift cards, and more.
What credit score do I need for the Bank of America Premium Rewards Card?▾
The Bank of America Premium Rewards Card is recommended for applicants with excellent (750+) credit. Approval is not guaranteed and depends on your full credit profile.
Does the Bank of America Premium Rewards Card charge a foreign transaction fee?▾
No — the Bank of America Premium Rewards Card has no foreign transaction fees, making it a solid choice for international purchases and travel abroad.
What is the APR on the Bank of America Premium Rewards Card?▾
The Bank of America Premium Rewards Card has a variable purchase APR of 19.49% – 29.49%. If you carry a balance, interest charges can quickly outweigh any rewards earned.
Who is the Bank of America Premium Rewards Card best for?▾
The Bank of America Premium Rewards Card is best for Bank of America Preferred Rewards Platinum Honors members. A key advantage: incredible with preferred rewards.
Annual Fee Break-Even
$1,000/mo
$100/mo$5,000/mo
Annual rewards earned: $180Annual fee: $95
Card pays for itself! You earn $85 more than the annual fee at this spend level.
Based on 1.5x base rewards rate @ 1¢ per point. Bonus category spending may reduce your break-even point.
Customer Reviews
4.3
1,123 reviews
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