VISAVisa Infinite

Bank of America® Premium Rewards® Elite

Earn 2x points on travel and dining with $450 in annual credits against the $550 fee

The $550 annual fee card includes $450 in annual statement credits ($300 airline incidentals and $150 lifestyle) plus a $120 Global Entry or TSA PreCheck credit every four years (up to $570 in combined credits), 4 Priority Pass Select memberships, and 20% airfare savings when you redeem points for flights. BofA Rewards members earn up to 75% bonus points on all purchases.

Annual Fee: $550
Bank of America points · Welcome Bonus: 75,000
Top Rate: 2X

Terms checked against the issuer on October 10, 2026

Apply on Bank of America's site

At a Glance

Annual Fee: $550
Foreign Transaction Fee: $0
Network: Visa Infinite
Rewards Currency: Bank of America points
Point Valuation: 0.6–1 cpp (mid: 1)
Credit Required: Excellent

Welcome Offer

75,000

Bank of America points

Spend $5,000 in the first 3 months

New cardmembers earn 75,000 bonus points (worth $750 in statement credits or $937.50 toward flights with 20% airfare redemption bonus) after spending $5,000 on purchases within the first 90 days of account opening. Combines with standard earning rates for total of 82,500+ points from meeting spending requirement.

Earning Rates

2X
Dining
Earn unlimited 2 points for every $1 spent on dining purchases
2X
Travel
Earn unlimited 2 points for every $1 spent on travel purchases
1.5X
All Other

Earning Scenarios

Earn 2x points per dollar on all travel purchases worldwide

All travel spending earns 2 points per dollar including flights, hotels, car rentals, rideshare, and cruises. Premier-tier BofA Rewards members earn an effective 3.5x rate. No spending caps.

$5,000 annual airline spend earns 10,000 points ($100 value, or $125 toward flights). Premier-tier members earn 17,500 points ($175 value).

Earn 2x points per dollar at restaurants and food delivery

Restaurant dining earns 2 points per dollar including sit-down restaurants, fast food, bars, cafes, and food delivery services like Uber Eats and DoorDash. Premier-tier BofA Rewards members earn effective 3.5x rate with 75% bonus. No annual spending limits in dining category.

$3,000 annual restaurant spend earns 6,000 points ($60 value). Premier-tier members earn 10,500 points ($105 value).

Earn 1.5x points per dollar on all other purchases

Everything else earns 1.5 points per dollar including groceries, gas, shopping, bills, and everyday expenses. Higher base rate than most premium travel cards which earn 1x outside bonus categories. Premier-tier BofA Rewards members earn effective 2.6x rate with 75% bonus.

$10,000 annual general spend earns 15,000 points ($150 value). Premier-tier members earn 26,250 points ($262.50 value).

Benefits & Perks

Travel Benefits

4 perks

Lounge Access

4 Priority Pass memberships with unlimited visits

Hotels & Lodging

900+ luxury hotels with room upgrades

Flights & Airlines

$300 airline credit$300

Concierge

24/7 personal concierge service

Annual Credits & Statement Credits

3 credits

Up to

$457.50

in recurring credits (annual)

$300 airline credit
Receive up to $300 annually in Airline Incidental Statement Credits for qualifying purchases such as seat upgrades, baggage fees, airline lounge fe...
$300
Annual
$150 lifestyle credit
Receive up to $150 annually for lifestyle conveniences including video streaming services, food delivery, fitness subscriptions and rideshare services
$150
Annual
$120 Global Entry/TSA PreCheck every 4 years
Get up to $120 in Airport Security Statement Credits for TSA PreCheck® or Global Entry application fees, every four years
$120
Every 4 years

Lounge Access

Browse all lounges →

4 Priority Pass memberships with unlimited visits
Free unlimited access to about 1,300 airport lounges and experiences worldwide for you and up to 3 other members with Priority Pass Select.

Insurance & Protections

2 protections

Travel Protections
Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delay, lost luggage reimbursement, roadside assis...
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.

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: $550

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

5 sources

Forbes3.7/5

PointsNav—

Ranked #75 of 119

Lendingtree4.5/5

The Points Guy3.5/5

Upgraded Points4/5

How It Compares

Sits at the top of Bank of America's lineup with a $550 annual fee. It earns the same 2x on travel and dining and 1.5x elsewhere as the $95 Premium Rewards card, but adds larger statement credits, Priority Pass Select memberships and a Visa Infinite benefit set. Limited by mostly fixed-value redemption at about 1 cent per point with no transfer partners, unlike Chase Sapphire Reserve or Amex Platinum which offer transfer flexibility.

The Math: Is $550 Worth It?

First-year value includes $750 welcome bonus

Welcome bonus (75,000 x 1 cpp)$750

Annual credits (60% utilization)$274.50

Annual fee-$550

Net first-year value+$474.50

Credit Utilization (60%)

$300 airline incidental credit$180

$150 lifestyle credit$90

Airport Security Statement Credits$4.50

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

Total Value Captured

$274.50

Annual Fee

-$550

Net Annual Value

-$275.50

Details & Terms

Application Rules

Rule	Details
B of A 2/3/4	Bank of America limits the number of personal cards issued by the bank that you can get within a certain time frame

Payment Terms

Purchase APR	19.74%–27.74% (Variable)
Foreign Transaction 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

Third-Party Articles & Reviews