Bank of America Premium Rewards Credit Card

Welcome Bonus

60,000 online bonus points

after you make at least $4,000 in purchases in the first 90 days of account opening

Annual Fee

$95

Annual Rewards

2 points

for every $1 spent on travel and dining purchases and 1.5 points per $1 on all other purchases

Rewards on Approval

N/A

Interest rates

Purchase Rates

20.24%

Cash Advance Rates

23.24%

Balance Transfer Rates

20.24%

Table of Contents

Bank of America Premium Rewards Credit Card

The Bank of America Premium Rewards Credit Card is a versatile and feature-rich credit card designed to cater to the needs of discerning customers seeking a balance between rewards, travel perks, and financial flexibility. With an emphasis on providing value through a robust rewards program and premium benefits, this credit card is positioned as an attractive option for individuals who prioritize both earning points and enjoying exclusive privileges.

Pros

  1. Versatile Rewards: The card's rewards program caters to diverse preferences, allowing users to maximize the value of their points.
  2. Travel-Focused Perks: With features like travel statement credits and no foreign transaction fees, this card is particularly appealing to frequent travelers.
  3. Sign-Up Bonus: The substantial sign-up bonus provides immediate value for new cardholders.
  4. Flexible Redemption: The ability to redeem points for various options gives cardholders greater control over their rewards.
  5. Global Entry/TSA PreCheck: Access to application fee reimbursement for these programs adds convenience for frequent flyers.

Cons

  1. Annual Fee: While the card offers significant benefits, it comes with an annual fee that may be a consideration for some users.
  2. Interest Rates: Depending on the individual's creditworthiness, the APR can be relatively high.
  3. No Introductory APR: Unlike some other cards, the Bank of America Premium Rewards Credit Card does not offer an introductory 0% APR period for purchases or balance transfers.
  4. Tiered Rewards: The rewards structure includes tiers, and the highest earning rates apply to specific categories, potentially limiting earning potential in other areas.
  5. Premium Requirements: Some of the premium benefits may require a higher credit score, making them less accessible to those with lower credit ratings.

Details & Eligibility

  • 800+
  • N/A
  • N/A
  • $95
  • N/A
  • Visa
  • No
  • 20.24%
  • 23.24%
  • 20.24%
  • N/A
  • N/A
  • N/A
The Bank of America Premium Rewards Credit Card is issued by Bank of America, one of the largest and most prominent financial institutions in the United States. As a premium credit card, it offers a comprehensive suite of features, making it suitable for various spending preferences and lifestyle choices. Key Features:
  1. Rewards Program: The card comes with a competitive rewards program that allows cardholders to earn points on every purchase. These points can be redeemed for a variety of options, including travel, cash back, gift cards, and more.
  2. Sign-Up Bonus: New cardholders can take advantage of a generous sign-up bonus, providing a substantial boost to their initial points balance.
  3. Travel Benefits: Users enjoy a range of travel perks, including statement credits for travel-related expenses, no foreign transaction fees, and access to the Global Entry/TSA PreCheck application fee reimbursement.
  4. Flexible Redemption Options: The flexibility of point redemption sets this card apart, offering users the freedom to choose how they want to use their earned rewards.
  5. Premium Customer Service: As a premium credit card, it provides dedicated customer service to assist cardholders with any inquiries or concerns.
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