Bilt Palladium Card vs Bank of America® Premium Rewards® Elite
Annual fees: Bilt Palladium Card $495/yr, Bank of America® Premium Rewards® Elite $550/yr. Strongest bonus categories: Bilt Palladium Card on rent and travel, Bank of America® Premium Rewards® Elite on dining.
Card data as of October 12, 2026.
- Bilt Palladium Card
Cardless · $495/yr
Bank of America® Premium Rewards® EliteBank of America · $550/yr
Overview
- Annual fee
- Bilt Palladium Card$495LowestBank of America® Premium Rewards® Elite$550
- Welcome offerCurrent public offer
- Bilt Palladium Card50,000 pointsBank of America® Premium Rewards® Elite75,000 points
- Rewards
- Bilt Palladium CardBilt PointsBank of America® Premium Rewards® EliteBank of America points
- Foreign transaction fee
- Bilt Palladium CardNoneBank of America® Premium Rewards® EliteNone
- Network
- Bilt Palladium CardMastercardBank of America® Premium Rewards® EliteVisa Infinite
Earn ratesPer $1 spent
- Dining
- Bilt Palladium Card2xBank of America® Premium Rewards® Elite2x
- Travel
- Bilt Palladium Card2xBank of America® Premium Rewards® Elite2x
- Mortgage
- Bilt Palladium Card1.25xBank of America® Premium Rewards® Elite1.5xHighest
- Rent
- Bilt Palladium Card1.25xBank of America® Premium Rewards® Elite1.5xHighest
- Everything else
- Bilt Palladium Card2xHighestBank of America® Premium Rewards® Elite1.5x
Statement creditsAs the issuer states them · — means none on record
- Travel
- Bilt Palladium Card
- $400 hotel credit
Bank of America® Premium Rewards® Elite- $300 airline credit
- $120 Global Entry/TSA PreCheck every 4 years · $120 every 4 years
- Shopping & wellness
- Bilt Palladium Card
- $200 Bilt Cash
Bank of America® Premium Rewards® Elite— - Other credits
- Bilt Palladium Card—Bank of America® Premium Rewards® Elite
- $150 lifestyle credit
Perks & access— means none on record
- Lounges
- Bilt Palladium Card
- Priority Pass Airport Lounge Access
Bank of America® Premium Rewards® Elite- 4 Priority Pass memberships with unlimited visits
- Hotel status & programs
- Bilt Palladium Card—Bank of America® Premium Rewards® Elite
- 900+ luxury hotels with room upgrades
- Other perks
- Bilt Palladium Card—Bank of America® Premium Rewards® Elite
- 24/7 personal concierge service
- 20% off airfare when redeeming points
Protections & insuranceLimits where published · — means none on record
- Trip insurance
- Bilt Palladium Card
- Trip Delay
Bank of America® Premium Rewards® Elite- Travel Protections
- Rental car
- Bilt Palladium Card
- MasterRental Coverage
Bank of America® Premium Rewards® Elite— - Purchase & returns
- Bilt Palladium Card
- Purchase Assurance · up to $1,000
- Price Drop Protection · up to $250
Bank of America® Premium Rewards® Elite— - Cell phone
- Bilt Palladium Card
- Cellular Wireless Telephone Protection · up to $800
Bank of America® Premium Rewards® Elite— - Other protections
- Bilt Palladium Card—Bank of America® Premium Rewards® Elite
- FICO® Score
Pros & cons
- Pros
- Bilt Palladium Card
- $600+ in annual credits ($400 hotel + $200 Bilt Cash) partially offsets $495 fee
- Earn up to 1.25X points on rent and mortgage with no transaction fees
- 2X points on all everyday purchases
- 50,000 points + $300 Bilt Cash welcome bonus (highest among Bilt cards)
- Transferable points to major airline and hotel partners
Bank of America® Premium Rewards® Elite— - Cons
- Bilt Palladium Card
- Requires high spending volume to qualify and maintain Palladium status
- No card-level bonus categories beyond the 2X flat rate (headline multipliers are membership-inclusive composites)
- Housing multiplier (up to 1.25X) depends on everyday-spend tiers or Bilt Cash redemption
- Benefits still lag behind premium travel cards from Chase/Amex
Bank of America® Premium Rewards® Elite—
Category-by-Category Winner
The Bank of America® Premium Rewards® Elite wins in 2 of 3 categories. The Bilt Palladium Card leads in 1.
Rent
Bank of America® Premium Rewards® Elite earns 1.5X vs 1.25X
Mortgage
Bank of America® Premium Rewards® Elite earns 1.5X vs 1.25X
Everyday purchases
Bilt Palladium Card earns 2X on all other spending vs 1.5X
Year One vs Ongoing Value
Modeled net value (bonus categories at unconditional rates, caps applied). Spend mix: dining 15%, groceries 15%, gas 10%, travel 10%, everything else 50%. Statement credits use the same recurring usable estimates as each card's detail page; first-year-only credits count in year one only. Welcome offers valued at each card's program rate shown on this page.
Both scenarios favor the Bilt Palladium Card on net value (rewards, usable credits, fees, and welcome offer).
| Scenario | Bilt Palladium Card | Bank of America® Premium Rewards® Elite | Ongoing winner | Year-one winner |
|---|---|---|---|---|
| Light spender: $1,000/month | Rewards: $480 Credits (our usable estimate): $300 − Annual fee ($495) Ongoing: $285 Year one: $1,285 | Rewards: $195 Credits (our usable estimate): $295 − Annual fee ($550) Ongoing: -$60 Year one: $690 | Bilt Palladium Card | Bilt Palladium Card |
| Heavy spender: $4,000/month | Rewards: $1,920 Credits (our usable estimate): $300 − Annual fee ($495) Ongoing: $1,725 Year one: $2,725 | Rewards: $780 Credits (our usable estimate): $295 − Annual fee ($550) Ongoing: $525 Year one: $1,275 | Bilt Palladium Card | Bilt Palladium Card |
Is the Fee Difference Worth It?
The Bank of America® Premium Rewards® Elite costs $550/yr — that's $55 more than the Bilt Palladium Card ($495/yr). To justify that gap, you need to extract at least $55 in annual value from the card's higher earn rates and benefits.
The Bank of America® Premium Rewards® Elite includes travel credits, lounge access, Global Entry/TSA PreCheck credit. Those perks are not included in the earn-rate scenario table above — compare their dollar value to the $55 fee gap for your own usage.
Bottom line: Use the year-one vs ongoing table for modeled earn value at your spend level. The $55 fee gap means the Bank of America® Premium Rewards® Elite needs roughly $55 more in annual rewards (or credits you will use) to break even on dining and travel and everyday spend.
What You Give Up
Choosing one card means missing out on these benefits from the other.
Choosing Bilt Palladium Card means losing:
- -Global Entry credit
Which Card Is Right for You?
Get the Bilt Palladium Card if you:
- +Prefer a high flat rate across all spending
Get the Bank of America® Premium Rewards® Elite if you:
- +Spend $300+/month on restaurants and dining out
The Bottom Line
Both scenarios favor the Bilt Palladium Card on net value (rewards, usable credits, fees, and welcome offer).
Everyday (non-bonus) spend earns 2X on the Bilt Palladium Card vs 1.5X on the other card.
Published annual fees: Bilt Palladium Card $495/yr, Bank of America® Premium Rewards® Elite $550/yr — a $55 difference before welcome offers and credits.
Frequently Asked Questions
- Is the Bank of America® Premium Rewards® Elite worth the higher annual fee?
- The Bank of America® Premium Rewards® Elite costs $550/yr vs $495/yr for the Bilt Palladium Card. Compare the year-one vs ongoing value table on this page — the $55 gap must be offset by higher earn rates, welcome offers, or credits you will use (the Bank of America® Premium Rewards® Elite also lists lounge access, travel credits).
- Which card earns more rewards, the Bilt Palladium Card or Bank of America® Premium Rewards® Elite?
- The Bilt Palladium Card has a higher base earn rate (2X vs 1.5X), but both cards have different bonus categories where they excel.
- What benefits does the Bilt Palladium Card have that the Bank of America® Premium Rewards® Elite doesn't?
- The Bilt Palladium Card offers lounge access, cell phone protection. The Bank of America® Premium Rewards® Elite offers lounge access, travel credits.
- Should I get the Bilt Palladium Card or the Bank of America® Premium Rewards® Elite?
- Use the spend scenarios on this page: the Bilt Palladium Card has a lower $495/yr fee; the Bank of America® Premium Rewards® Elite must earn enough extra (or offer a larger welcome bonus) to justify $550/yr.
Editorial disclosure: CardRewards.ai is an independent comparison service. Card data comes from issuers' published terms; catalog last published October 12, 2026, and each card page shows when its terms were last checked. Card issuers do not influence our rankings or content.