US
Bank of America® Premium Rewards® Elite review
Boost your rewards with assets and make the most out of your card. Read this Bank of America® Premium Rewards® Elite review and find out how.
Advertisement
Get travel perks, bonus points, and pay no foreign transaction fees with Bank of America® Premium Rewards® Elite
Looking for a credit card with great rewards and travel benefits? Then check out this Bank of America® Premium Rewards® Elite review. You’ll be surprised!
How to get your Bank of America® Premium Rewards®
In this Bank of America® Premium Rewards® Elite application guide we are going to show you how to get this card in just a few minutes.
- Credit Score: Good – Excellent
- APR: 21.24% – 28.24% Variable
- Annual Fee: $550
- Fees: N/A
- Welcome bonus: 50,000 bonus points, worth $500, after spending $3,000 within the first 90 days.
- Rewards: Tiered rewards based on assets. The rewards bonus and points per $1 spent increase as assets and status level increase. The top status level offers 75% rewards bonus and 3.5x points per $1 spent on travel and dining.
This premium rewards card with a generous welcome bonus is perfect for frequent travelers seeking luxury perks and flexible redemption options.
Bank of America® Premium Rewards® Elite: how does it work?
The Bank of America Premium Rewards Elite Credit Card offers a straightforward earning and redeeming structure.
It also offers luxury perks for frequent travelers such as airport lounge access. With an annual fee of $550, the card comes with a number of benefits.
This includes $450 in annual statement credits, travel and purchase protections, and a 20% boost to point value when redeeming for airfare.
Further, those who hold status in the Bank of America Preferred Rewards program can receive 25% to 75% more points on their purchases. This can greatly enhance the value they receive from the card.
The card is a great choice for those looking for a premium travel rewards card with a simple structure for rewards and redemption.
It’s especially valuable for those who can make use of the premium benefits such as airport lounge access.
The lack of foreign transaction fees is another advantage of the card. However, the card does not provide access to travel transfer partners, which may be a downside for some cardholders.
Although the $550 annual fee may seem steep, the benefits of the card make it worthwhile for frequent travelers.
The Bank of America Preferred Rewards program can also significantly increase the rewards you earn from the card.
Plus, those who hold status in the program can earn up to 75% more points on every purchase.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Significant benefits and disadvantages you may find
To make our Bank of America® Premium Rewards® Elite review complete, let’s have a look at its pros and cons. Check out the list of benefits and disadvantages below.
Benefits
- High rewards rate for travel and dining
- No foreign transaction fees
- Option to boost rewards with assets
- Variety of travel and purchase protections
Disadvantages
- High annual fee
- No 0% APR intro period
- Limited airport lounge access
- Requires high assets for optimal rewards
Is a good credit score required for applicants?
Yes, a good credit score is typically required for applicants of the Bank of America® Premium Rewards® Elite card.
Learn how to apply and get a Bank of America® Premium Rewards® Elite
Apply for the Bank of America® Premium Rewards® Elite easily and quickly with our step-by-step guide below. Just click the link and we’ll take you there.
How to get your Bank of America® Premium Rewards®
In this Bank of America® Premium Rewards® Elite application guide we are going to show you how to get this card in just a few minutes.
About the author / Danilo Pereira
Trending Topics
7 Ways to Earn Higher Interest on Your Money
If you're looking for creative ways to maximize your savings potential, check out these seven tips on how to earn higher interest.
Keep Reading
Journey Student Rewards from Capital One application
Apply for the Journey Student Rewards from Capital One to enjoy cashback rewards! This post will tell you more about the application process.
Keep Reading
Quicksilver Rewards Card application
Getting the Quicksilver Rewards Card from Capital One is simple and easy. Learn how to apply today and get started on earning rewards!
Keep ReadingYou may also like
Best cards for poor credit: get a good one!
You can get one of the best credit cards even if you have a poor credit score. This list will show you the top 6 and what they offer you.
Keep Reading
Applied Bank® Secured Visa® Gold Preferred® Credit Card review
Check our Applied Bank® Secured Visa® Gold Preferred® Credit Card review and learn how to build a solid financial future!
Keep Reading
Wells Fargo Bank review: Is it trustworthy?
Are you looking for a new and innovative banking experience? Then check out our Wells Fargo Bank review to learn what it can do for you.
Keep Reading