Credit Cards

Bank of America® Premium Rewards® Credit Card review

Check out our complete review of the Bank of America® Premium Rewards® Credit Card, including features and benefits, rewards program info, and more.

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Bank of America® Premium Rewards® Credit Card: get a card that matches your lifestyle!

Bank of America® Premium Rewards® credit card
This credit card will give you excellent rewards rates. Source: The Post New.

Do you like getting paid to use your credit card? If so, the Bank of America® Premium Rewards® Credit Card will be an excellent addition to your wallet.

Bank of America® Premium Rewards® credit card

How to get your Bank of America® Premium Rewards®

See how you can easily apply for a Bank of America® Premium Rewards® Card and enjoy a series of exclusive and premium benefits.

This card comes with a generous sign-up bonus, ongoing rewards, and a reasonable annual fee. If you travel regularly, you’ll get even more benefits with its travel-related perks and no foreign transaction fees.

If you’re eligible for a Preferred Rewards membership, you’ll earn even more by making purchases with this card. See below to learn a bit more about the Premium Rewards® Credit Card top features.

  • Credit Score: An excellent credit score is required for new applicants.
  • APR: There is a standard variable APR of 18.99% – 25.99% with this card.
  • Annual Fee: You’ll have to pay $95 per year.
  • Fees: 3% for every balance transfer transaction. 
  • Welcome bonus: Signing up for this card will get you 50,000 points after making $3,000 in purchases in the first 90 days.
  • Rewards: The Premium Rewards® Credit Card rewards you with 2 points on travel and dining purchases. Plus 1.5 points on literally everything else. 

This particular credit card offers many perks and features that can be appealing to Bank of America customers.

For instance, you’ll get travel, purchase and automotive protections. There’s a 24/7 concierge service and a series of security features.

Read our full Bank of America® Premium Rewards® Credit Card review below to learn all the details. You’ll soon understand why this is such a great card for your everyday life. 

Bank of America® Premium Rewards® Credit Card: how does it work?

The Bank of America® Premium Rewards® Credit Card is a solid product for anyone with an excellent score who spends a lot of money on dining and travel.

You don’t have to have a Bank of America or Merrill checking or savings account. However, you’ll enjoy even more benefits if you do. Especially if you’re eligible for the Preferred Rewards program.

While the card charges an annual fee of $95, the welcome bonus alone covers that amount (so long as you meet the spending requirements).

There’s no foreign transaction fee, which is great for international travel and purchases. With this card, you’ll also get a $100 annual air travel credit and up to $100 on Global Entry or TSA PreCheck®. 

With the Premium Rewards® Credit Card, you’ll earn unlimited points on all of your purchases.

You can easily redeem them for statement credit or direct deposit, and the points never expire as long as your account remains active. 

Significant benefits and disadvantages you may find

woman using credit card to buy online
Every time you use this card, you earn rewards points. Source: Freepik.

The Bank of America® Premium Rewards® Credit Card offers some great benefits. But before you sign up, be sure to read the pros and cons below to see if it’s the right card for you. 

Benefits

  • 50,000 bonus points as a welcome bonus (see terms);
  • Great ongoing rewards, especially for travel and dining;
  • No foreign transaction fee for international purchases;
  • Preferred Rewards members can get even more points;
  • Access to Premium benefits and Visa Signature benefits.

Disadvantages

  • High variable APR with no introductory offer;
  • Charges an annual fee;
  • Requires an excellent score for new applicants.

Is a good credit score required for applicants?

Yes. Since this is a premium credit card with exclusive benefits, you need an excellent credit score in order to become eligible.

However, Bank of America uses a wide range of factors to determine creditworthiness beyond your current score. If you have a very good rating and meet the bank’s other criteria, you might get the card. 

Learn how to apply and get a Bank of America® Premium Rewards® Credit Card

If you’re interested in the Bank of America® Premium Rewards® Credit Card and want to learn how to apply for it, we can help.

Follow the link below for more details about the application process and other useful information. 

Bank of America® Premium Rewards® credit card

How to get your Bank of America® Premium Rewards®

See how you can easily apply for a Bank of America® Premium Rewards® Card and enjoy a series of exclusive and premium benefits.

About the author  /  Aline Barbosa

Aline Barbosa is an editor, writer and learning-enthusiast. Passionate about music, books and human behavior. Curious about the unknown. Believer that learning is a life-long process.

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