VISAVisa Signature

Bank of America Premium Rewards Credit Card

Unlock premium rewards that grow with your Bank of America relationship

Earn 2X points on travel and dining and 1.5X on everything else — then boost those rates up to 75% with BofA Rewards. Plus enjoy up to $100 a year in airline incidental credits and a $100 TSA PreCheck or Global Entry credit every four years, Visa Signature protections, and flexible point redemption including cash back, travel, and 529 college savings accounts.

Annual Fee: $95
Bank of America points · Welcome Bonus: 60,000
Top Rate: 2X

Terms checked against the issuer on October 10, 2026

Apply on Bank of America's site

At a Glance

Annual Fee: $95
Authorized User Fee: $0
Foreign Transaction Fee: $0
Network: Visa Signature
Rewards Currency: Bank of America points
Point Valuation: 0.6–1 cpp (mid: 1)
Credit Required: Good to Excellent

Welcome Offer

60,000

Bank of America points

Spend $4,000 in the first 3 months

Get 60,000 online bonus points — worth $600 — after spending $4,000 on purchases in the first 90 days. Points can be redeemed as cash back, travel, or deposited into a 529 college savings account.

Earning Rates

2X
Travel
2X points on travel purchases (increases with Preferred Rewards tiers)
2X
Dining
2X points on dining purchases (increases with Preferred Rewards tiers)
1.5X
All Other
1.5X points on all purchases

Earning Scenarios

Double Points on Every Trip

Earn 2X points per dollar on all travel purchases — flights, hotels, car rentals, cruises, and more. BofA Rewards members earn up to 3.5X.

Book a $2,000 vacation: earn 4,000 points ($40 value), or up to 7,000 points ($70) at the Premier tier

Double Points at Every Restaurant

Earn 2X points per dollar on all dining purchases — restaurants, takeout, delivery, and cafes. BofA Rewards members earn up to 3.5X.

Spend $500/month on dining: earn 12,000 points/year ($120), or up to 21,000 points ($210) at the Premier tier

Strong Base Rate on Everything Else

Earn 1.5X points per dollar on all non-bonus purchases. With Premier-tier BofA Rewards, this jumps to 2.625X — one of the highest flat rates available.

Spend $2,000/month on everyday purchases: earn 36,000 points/year ($360), or up to 63,000 ($630) at the Premier tier

Benefits & Perks

Travel Benefits

3 perks

Hotels & Lodging

Visa Signature Luxury Hotel Collection access

Concierge

Visa Signature Concierge Service available 24/7

General Travel

No Foreign Transaction Fees on purchases

Annual Credits & Statement Credits

3 credits

Up to

$300

in recurring credits (annual)

$100 Global Entry/TSA PreCheck
Get up to $100 in Airport Security Statement Credits for TSA PreCheck® or Global Entry application fees, every four years
$100
Annual
$100 airline credit
Up to $100 statement credit annually for airline incidental fees such as seat upgrades, checked bags, and in-flight purchases
$100
Annual
$100 Global Entry/TSA PreCheck
Up to $100 statement credit for Global Entry ($120) or TSA PreCheck ($85) application fee every 4 years
$100
Annual

Insurance & Protections

12 protections

$10,000 purchase protection for eligible items
$10,000
Coverage for eligible purchases against theft or accidental damage for 90 days from purchase date
$10,000 extended warranty protection on eligible purchases
$10,000
Doubles the manufacturer's warranty up to one additional year on warranties of three years or less
$3,000 lost luggage reimbursement coverage available
$3,000
Coverage for luggage and contents if lost or stolen by common carriers when trip costs are paid with the card
$2,500 trip cancellation and interruption insurance
$2,500
Coverage up to $2,500 per trip for unused, prepaid non-refundable travel expenses if you must cancel or interrupt your trip due to covered reasons
$500 baggage delay protection coverage available
$500
Up to $100 per day for up to 5 days when checked baggage is delayed 6 or more hours, covering essential items

Show all 12 protections

$500 trip delay reimbursement coverage available
$500
Get up to $100 daily for 5 days when delays exceed 6 hours, covering essentials like toiletries, clothing, and chargers
Travel protections
Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delays, lost luggage and emergency evacuation and
Automotive protections
secondary
Feel safer on the road with our 24/7 Roadside Dispatch Program, plus added protection with Auto Rental Collision Damage Waiver.
Auto Rental Collision Damage Waiver coverage
Secondary coverage for theft and collision damage when renting a car, up to the Actual Cash Value of the rental vehicle
Roadside Dispatch Program available 24/7 nationwide
Access to 24/7 emergency roadside dispatch service for towing, tire changes, fuel delivery, lockout service, and more
FICO® Score
Now, when you opt-in you can access your FICO® Score updated monthly for free, within your Mobile Banking app or in Online Banking.
Evacuation and Transportation Cover when traveling
Comprehensive coverage for emergency medical evacuation and transportation services when traveling outside your home area

Dining Out

2x at restaurants

Bank of America Rewards Points

≈$2 in value on a $100 dinner, at our valuation of 1¢ per point

Annual fee: $95

Explore 5,512 New York restaurants with this card

Stack a dining program

Rakuten Dining

5% back at 20,618 participating restaurants, on top of this card's 2x, once you join and link this card.

How Rakuten Dining works

+$5

cash back, or ≈$5.50 as points

Bank of America Rewards Points

View Program

Bank of America Rewards Points is the rewards program for this card. Transfer-partner details are currently unavailable.

Bank of America Rewards Points is a straightforward statement credit program with a fixed 1 cpp value for travel and dining redemptions. There are no transfer partners, so redemption flexibility is limited compared to Chase Ultimate Rewards or American Express Membership Rewards. However, the Preferred Rewards program can significantly boost earning rates by up to 75% for members with qualifying Bank of America and Merrill combined account balances.

Currency: Bank of America points

Point Value: 1 cpp

Range: 0.6–1 cpp

Program Ratings

Bankrate

4.2/5

PointsNav

4.8/10#38

Broad Coverage

5/10

Everyday Usefulness

4/10

Earn/Redeem Efficiency

4/10

Policy Fairness

6/10

Ease Of Holding

8/10

Product/Transfer Quality

2/10

Forbes Advisor

Recent Changes & News

Feb 7, 2026policy change

Bank of America is rebranding its Preferred Rewards program to 'BofA Rewards' in May 2026 with updated tier names, new elite benefits, and refreshed asset thresholds for Diamond tier

Sweet Spots — Best Redemptions

Route / Property	Points	Cabin/Type	Value / Region
Domestic roundtrip flight statement credit	30,000–50,000	—	United States
International economy flight statement credit	60,000–100,000	economy	Europe
Premium cabin international flight statement credit	100,000–150,000	business	Asia
Hotel stay statement credit	15,000–30,000	—	United States
Vacation rental statement credit	20,000–40,000	—	United States
Dining statement credit	2,500–10,000	—	Global

Reviews & Analysis

Third-Party Rankings & Ratings

7 sources

U.S. News3.9/5

Bankrate4.2/5

PointsNav—

WalletHub4.2/5

NerdWallet4.2/5

Forbes Advisor3.8/5

The Points Guy3.5/5

How It Compares

The Premium Rewards card stands apart for Bank of America banking customers who can maximize BofA Rewards tiers. At the Premier tier ($1M+ in combined balances), the 3.5X travel/dining and 2.625X base rates beat nearly every flat-rate card. The $100 annual airline incidental credit offsets most of the $95 fee, but without BofA Rewards, the base 2X/1.5X rates are middling compared to Chase Sapphire Preferred or Citi Strata Premier.

Editorial Review

Adam SeperReviewed by Jason FoleyPointsNavFeb 8, 2026

If you hold Bank of America accounts, you can find flexible redemption paths beyond typical travel perks, including the ability to deposit rewards into certain investment options while still enjoying convenient travel redemptions.

Key Takeaways

If you’re seeking flexible redemption options and you already have Bank of America (BOA) checking, savings, or Merrill investment accounts, this card offers more ways to use your points than many other rewards cards. Although the main attraction for many people is free travel, you may eventually want a break from Chase or Amex. In that case, the Bank of America Premium Rewards Credit Card is a solid choice.

Like many other cards, it provides cash back. However, it also allows you to deposit your points into an eligible Merrill investment account, including a 529 plan for college savings. You can still redeem these points for travel in the BOA Travel Portal, and redemptions are at a 1:1 cents-per-point ratio, which may not be the highest but offers simplicity and flexibility.

Why This Card Could Be Right For You

The Bank of America Premium Rewards card provides a 60,000-point sign-up bonus after you spend $4,000 in purchases within the first 90 days of card ownership. It carries a $95 annual fee, but offers up to $100 in Airline Incidental Statement Credits each year for qualifying purchases such as seat upgrades, baggage fees, in-flight services, and lounge fees. These credits are automatically applied to your statement. You also receive a $100 credit for TSA Precheck or Global Entry every four years. The earning structure includes 2x points on travel and dining and 1.5x points on all other purchases, with no limit on either category.

You have several redemption options:

Cash back into a Bank of America checking or savings account
Credit to eligible Merrill investment accounts (including 529 accounts)
Statement credit
Gift cards
Travel purchases through the Bank of America Travel Portal

You can boost your earnings further by enrolling in Bank of America’s Preferred Rewards program. To qualify, you need an eligible Bank of America personal checking account plus a three-month average balance of at least $20,000 across Bank of America and Merrill accounts. A $20,000 balance places you in the Gold Tier (between $20,000 and $50,000), which gives you a 25% earning bonus — raising your 1.5x rate to 1.875x. There are four other tiers, with Platinum Honors and Diamond offering a 75% earning bonus, translating to 2.625 points per dollar spent.

Read full review (3 more sections)

When The Usual Advice Doesn't Apply

You might want to avoid this card if:

Bank of America’s lack of airline or hotel transfer partners limits your redemption options
You prefer cards that offer more than a 1:1 CPP ratio through transfer partners

What to Know About Bank of America

Bank of America Travel Rewards is a low tier program in the points and miles hobby:

There are one or two cards worth getting, but only in the right situations
Having an existing relationship with the bank or needing a break from the big credit card issuers are the main reasons you might want to get into this system
Redeeming rewards is simple and straightforward, but you’ll only earn 1 cent per point at best
Many cards only offer cash back rewards
Its lack of any transfer partners puts this system near the bottom of our rankings

How The Bank of America Premium Rewards Credit Card Fits In The Bank of America Ecosystem

There are two other BOA cards worth considering:

1. BOA Travel Rewards Card

No annual fee
25,000-point sign-up bonus after spending $1,000 in 90 days
1.5x points on all purchases, redeemable for any travel or restaurant purchase

2. Bank of America Premium Rewards Elite Card

$550 annual fee
75,000-point sign-up bonus after spending $5,000 in 90 days
2x points on dining and travel; 1.5x on everything else
$300 annual credit for airline incidentals, $100 TSA PreCheck/Global Entry credit, $150 for lifestyle conveniences (e.g., streaming services, food delivery, fitness subscriptions, and rideshare services)
Up to four complimentary Priority Pass Select memberships
20% off airfare purchases when you pay with points

Overall, the Bank of America Premium Rewards Credit Card provides a mix of simplicity and flexibility, especially for existing BOA or Merrill customers who want a cash-back or investment-focused alternative.

Pros and Cons

Pros

+Up to 75% rewards boost at the Premier tier (3.5X travel/dining, 2.625X base)
+No foreign transaction fees
+Strong 60,000 point welcome bonus after $4,000 spend
+$100 annual airline incidental credit
+TSA PreCheck or Global Entry application fee credit every 4 years
+Visa Signature benefits including rental car CDW, travel insurance, and extended warranty
+Points don't expire and no minimum redemption

Cons

-Base 2X/1.5X rates are mediocre without a higher BofA Rewards tier
-$95 annual fee with no first-year waiver
-Requires maintaining significant assets at Bank of America/Merrill for best rates
-No transfer partners - points only redeemable for cash back or travel booking
-The top 75% BofA Rewards bonus requires $1M+ in combined balances (50% at $100K+)

Who It's Best For

Best For

BofA Rewards members with $1M+ in combined balances (Premier tier earns up to 3.5X on travel/dining)
Frequent travelers and diners who bank with Bank of America
International travelers who need no foreign transaction fees
Those who want solid rewards without managing rotating categories
BofA Rewards members looking to maximize their existing relationship

Not Ideal For

Non-Bank of America customers (base rates are uncompetitive without BofA Rewards)
Those who don't want to maintain $30K-$1M in Bank of America/Merrill accounts
Premium travel card seekers who want lounge access or transfer partners
People seeking a no-annual-fee option

The Math: Is $95 Worth It?

First-year value includes $600 welcome bonus

Welcome bonus (60,000 x 1 cpp)$600

Annual credits (60% utilization)$180

Annual fee-$95

Net first-year value+$685

Credit Utilization (60%)

Airport Security Statement Credits$60

Annual Airline Incidental Credit$60

Global Entry or TSA PreCheck Credit$60

Excludes earning value, lounge access, insurance, and elite status

Total Value Captured

$180

Annual Fee

-$95

Net Annual Value

+$85

Details & Terms

Payment Terms

Purchase APR	19.74%–27.74% (Variable)
Cash Advance APR	22.74%–28.74% (Variable)
Foreign Transaction Fee	$0
Authorized User Fee	$0

FAQs

Do Bank of America travel rewards points expire?

No, points don't expire as long as your Bank of America credit card account is open and active. Once you close a card, any unredeemed points on that card are lost.

Can I transfer Bank of America points to airline or hotel partners?

No. Bank of America points cannot be transferred to external loyalty programs. You can only redeem them for statement credits, cash back, or gift cards.

What is the minimum redemption for Bank of America points?

You need at least 2,500 points to redeem. That's worth $25 toward travel/dining statement credits or $15 as cash back.

Can I share or transfer points to another person?

No. You cannot transfer points to another cardholder or person. You may be able to transfer rewards between your own eligible Bank of America accounts by calling customer service.

How does Bank of America Preferred Rewards boost my earning rate?

Preferred Rewards members earn 25% (Gold), 50% (Platinum), or 75% (Platinum Honors/Diamond) more points on every purchase. A card earning 1.5x would earn 2.625x at the Platinum Honors tier.

What purchases qualify for travel/dining statement credit redemptions?

Flights, hotels, vacation rentals (including Airbnb), baggage fees, car rentals, and restaurant meals all qualify as travel/dining purchases.

What is the difference between Bank of America card families?

Travel Rewards (no annual fee, 1.5x all), Premium Rewards ($95 AF, 2x travel/dining), Premium Rewards Elite ($550 AF with luxury travel benefits), Customized Cash Rewards (no AF, 5.25% in chosen category), and Unlimited Cash Rewards (no AF, simple cash back).

Media & Resources

Video Reviews

8 videos

Why I'm DITCHING My Bank of America PR Elite Credit Card in 2025

Stan The Credit Frog·May 2025youtubereview