Bank of America® Premium Rewards®

Issuer

Bank of America

Network

Visa

Regular APR

20.24% - 28.24%

Credit Score

690 - 850 (Good - Excellent)

Rewards Rate Details

Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points for every $1 spent on all other purchases.

Intro Offer Details

Receive 60,000 online bonus points - a $600 value - after you make at least $4,000 in purchases in the first 90 days of account opening.

Pros

• Preferred Rewards® members can earn a 25%–75% rewards boost, providing excellent value for eligible users.
• Generous sign-up bonus of 60,000 points ($600 value) after meeting spending requirements.
• Offers $100 annual airline incidental statement credit, effectively reducing the $95 annual fee.
• Provides up to $100 TSA PreCheck® or Global Entry credit every four years.
• No foreign transaction fees, making it suitable for international travel.
• Flexible redemption options for points, including cash back, travel, and statement credits.

Cons

• Rewards rates are less competitive without Preferred Rewards status, requiring $50,000 in qualifying Bank of America or Merrill accounts.
• Minimum redemption requirements: 2,500 points for cash back or travel, 3,125 points for gift cards.
• No airline or hotel transfer partners, limiting travel redemption flexibility.
• The $100 airline credit is restricted to incidental fees, not applicable to airfare or broader travel purchases.
• No intro APR offer on purchases or balance transfers.
• Annual fee of $95 may not appeal to users who want no-fee cards.