Bank of America® Premium Rewards® Elite

Bank of America® Premium Rewards® Elite Statement Credits

$550/yr annual fee. 2 statement credits benefits, with what each is worth and the limits that apply.

Annual fee
$550/yr
Estimated value
$145/yr
Benefits
2

Airport Security Statement Credits

$120/every_4_years

Get up to $120 in Airport Security Statement Credits for TSA PreCheck® or Global Entry application fees, every four years

Value Analysis

Face Value
$30
Estimated Value
$25

$150 lifestyle credit

$150/yr

This $150 annual credit applies only to charges from specific rideshare, food delivery, streaming, and fitness merchants, and only when those merchants code the transaction under approved category codes. Payments routed through third-party processors or unsupported digital wallets may not qualify. You must pay with the eligible card, processing can take up to three weeks, and only up to $150 in qualifying purchases per calendar year will be reimbursed.

Pro Tips

  1. 1Use this credit on recurring rideshare, food delivery, streaming, or fitness purchases and always pay with the eligible card since only direct charges qualify.
  2. 2Mix spending across several merchants to reach the full $150 if one category falls short.
  3. 3Confirm that charges code correctly, because third-party processors may prevent credits from posting.
  4. 4Track statements since credits take 2–3 weeks to appear, and monitor remaining eligibility to avoid leaving value unused.

Value Analysis

Face Value
$150
Estimated Value
$120

Editorial disclosure: CardRewards.ai is an independent comparison service. Card data comes from issuers' published terms; catalog last published November 13, 2026, and each card page shows when its terms were last checked. Card issuers do not influence our rankings or content.