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Bank of America® Premium Rewards® Elite Credit Card
Bank of America

Bank of America® Premium Rewards® Elite Credit Card

A $550-a-year travel rewards card from Bank of America.

Cash back only
Annual fee
$550/yr
Welcome bonus
75,000 online bonus points
Min spend
$5,000 in 90 days
Recommended credit
Excellent (720+)
Network
Visa
Apply on Bank of America site6.2/10Our rating · review ›

Rates, fees, and full terms are set by Bank of America and can change. See current rates & fees on the issuer’s site, and always confirm the latest terms before applying.

Before you apply: Bank of America application and welcome-bonus rules →
Offer last verified July 24, 2026. How we verify.

Is this card right for you?

✓ Best for

people who spend heavily on dining and travel and want travel rewards they can grow.

⚠ Think twice if

you will not use enough of its perks and credits to cover the $550 annual fee.

Earning rates

2 points per dollar on travel and dining, 1.5 points on everything else
Preferred Rewards members earn 25% to 75% more points, up to 3.5x travel and dining

Best ways to earn & redeem

Put your dining and travel spending on this card to earn at its highest rates, and let a different card handle the categories it does not bonus. Its dining rate is on the modest side for that category, so compare before you commit.

When you cash in, take the rewards as cash back or a statement credit, worth a flat 1 cent each. We value every point at a flat 1 cent, so treat any transfer upside as a bonus rather than the baseline — see what your points are really worth.

Features & benefits

Up to $300 per year in airline incidental credits plus up to $150 per year in lifestyle credits
Complimentary Priority Pass Select membership with unlimited visits, plus up to four memberships for authorized users
Global Entry or TSA PreCheck application fee credit once every four years

Lounge access

Complimentary Priority Pass Select membership with unlimited visits to 1,300+ airport lounges
Up to four additional Priority Pass Select memberships for authorized users

Statement credits

Up to $300 airline incidental fee credit annually
Up to $150 lifestyle credit annually (streaming, food delivery, fitness, rideshare)
Global Entry or TSA PreCheck fee credit (up to $120 every 4 years)

Alternatives to the Bank of America® Premium Rewards® Elite Credit Card

Pairs well with

The Bank of America® Premium Rewards® Elite Credit Card earns the most in its bonus categories, so pair it with a no-fee flat-rate card to cover everything it only earns a base rate on.

Learn more

How does it rank for your spending?

Every card is ranked by what it actually returns on the way you spend. Run your numbers and see where the Bank of America® Premium Rewards® Elite Credit Card lands.

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