- Sign-Up Bonus
- 3.5
- Spending Multipliers
- 3
- Credits & Features
- 3.5
- Fees
- 4.5
- Application
- 5
- Issuer
- 4
Summary
- Sign-Up Bonus
- 3.5
- Spending Multipliers
- 3
- Credits & Features
- 3.5
- Fees
- 4.5
- Application
- 5
- Issuer
- 4
The Bank of America Premium Rewards credit card is a high-tier travel rewards card designed for frequent travelers who want comprehensive protections and valuable travel perks. While the card carries an annual fee that is not waived in the first year, cardholders can take advantage of up to $100 in airline incidental statement credits, a $100 credit for Global Entry or TSA PreCheck every four years, and no foreign transaction fees—making it ideal for U.S.-based travelers who fly often. Additional benefits include purchase and return protection, extended warranty coverage, auto rental collision damage waiver, roadside dispatch, trip cancellation/interruption insurance, trip delay and baggage delay coverage, lost luggage reimbursement, and emergency evacuation and transportation, providing peace of mind for both domestic and international trips. With 1.5x points on all other purchases, the Premium Rewards card is best suited for travelers who want a combination of strong everyday rewards and premium travel protections without the hassle of managing multiple cards.
Pros
Cons
Issuer
Bank of America, founded in 1904 as Bank of Italy, has evolved into the second-largest US bank with a global presence in over 35 countries. Despite a disruptive history, including legal challenges related to risky mortgage loans, the bank remains a leading global financial institution, offering a comprehensive range of products such as credit cards, checking, savings, loans, investments, and business services. While recently announcing a departure from subprime lending in mortgage and auto loans, Bank of America continues to provide credit cards for various credit profiles. However, to qualify for the most rewarding cards with optimal benefits, an excellent credit score is usually required. Nevertheless, Bank of America is prioritizing financial stability with over $3.4 trillion in total assets and $192 billion in annual revenue in 2025. In addition, Bank of America is committed to innovation, investing significantly in AI and technology. Aligned with a global CSR strategy, it aims to achieve net-zero greenhouse gas emissions by 2050. Operating approximately 3,900 financial centers, the bank provides accessibility through digital banking and physical locations, catering to a diverse customer base. Upholding a mission to improve financial lives, Bank of America values responsible growth, collaboration, and trust within its team, adhering to regulatory standards as an FDIC insured and equal housing lender.
Spending Multipliers
2x
Points on travel
2x
Points on restaurants
1.5x
Points on all other purchases
Credits & Features
Application
- Ability to get some BoA cards without a SSN or credit history
- BoA has a 2/3/4 role, meaning you can only be approved for 2 cards in 2 months, 3 cards in 12 months, and 4 cads in 24 months
- You cannot get this card if you currently have or have had it in the past 24 months
Fees
- $95 Annual Fee
- No Foreign Transaction Fee
- Up to $41 late fee
- 19.49% - 27.49% Variable APR
- 29.24% APR for Cash Advance
- 5% of each cash advance transaction
- 19.49% - 27.49% APR for Balance Transfer
- 5% of each transfer amount