- Sign-Up Bonus
- 3.5
- Spending Multipliers
- 3
- Credits & Features
- 4.5
- Fees
- 2.5
- Application
- 5
- Issuer
- 4
Summary
- Sign-Up Bonus
- 3.5
- Spending Multipliers
- 3
- Credits & Features
- 4.5
- Fees
- 2.5
- Application
- 5
- Issuer
- 4
The Bank of America Premium Rewards Elite credit card is a top-tier travel rewards card tailored for frequent travelers who want luxury perks, premium protections, and elevated lifestyle benefits. With up to $300 in airline incidental statement credits, $150 in annual lifestyle credits for streaming, food delivery, fitness, and rideshare, a $120 Global Entry or TSA PreCheck credit every four years, and up to four complimentary Priority Pass Select lounge memberships, this card is ideal for business travelers, jet-setters, and U.S.-based frequent flyers seeking comfort and convenience while traveling. Additional protections—including roadside assistance, trip cancellation/interruption insurance, trip delay and baggage delay coverage, lost luggage reimbursement, and emergency evacuation—ensure peace of mind on every journey. While the annual fee is not waived in the first year and non-bonus purchases earn 1.5x points, the Bank of America Premium Rewards Elite card is best suited for travelers who can maximize its premium credits, lounge access, and robust travel insurance benefits.
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
- $550 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