Bank of America® Premium Rewards® Elite

Pros & Cons

Pros

+Welcome Bonus: 75,000 points
+Purchase protection included
+No foreign transaction fees

Cons

–High annual fee ($550/yr)
–No lounge access

Our Review

Unlock Ultra‑Premium Perks with the Bank of America® Premium Rewards® Elite Credit Card

75,000 bonus points after $5,000 in purchases within the first 90 days
2× points per $1 on travel and dining; 1.5× points per $1 on all other purchases
Up to $300 in annual airline incidental statement credits (seat upgrades, baggage fees, lounge charges)
Up to $150 in annual lifestyle credits for streaming services, rideshares, fitness memberships or food delivery
Four complimentary Priority Pass Select memberships for you and authorized users
No foreign transaction fees
$550 annual fee

This card is engineered for the discerning traveler who demands both rewarding returns and white‑glove service. Earn accelerated points on every flight, hotel stay and dinner, then redeem them at a 20% bonus when booking through the Bank of America Travel Center. Offset your $550 fee with generous credits for airline incidentals and lifestyle expenses, plus enjoy unlimited lounge access worldwide. A dedicated concierge and premium travel protections round out a seamless luxury experience—everywhere you go.

Terms apply. Welcome bonus and credits require qualifying spend; see issuer for full details and enrollment requirements.

Rewards

All Spending

1.5x

pts per dollar

Restaurants

2x

pts per dollar

Travel

2x

pts per dollar

Credit Card Rewards Calculator

See how much you could earn with this card based on your spending.

Your point valuation¢/ point

0.50¢3¢

Groceries1.5x

$700/mo

Gas & EV1.5x

$200/mo

Transit1.5x

$100/mo

Restaurants2x

$300/mo

Pharmacy1.5x

$50/mo

Travel2x

$150/mo

Bills & recurring payments1.5x

$250/mo

Telecom1.5x

$150/mo

Entertainment & streaming1.5x

$100/mo

Office supplies1.5x

$0/mo

All other spending1.5x

$500/mo

Points Earned

47,700

pts/yr

Estimated Value

$477

After Fees

$-73

1st Year Value

$677

incl. welcome bonus

Breakdown

Groceries$8,400/yr × 1.5x12,600 pts

Gas & EV$2,400/yr × 1.5x3,600 pts

Transit$1,200/yr × 1.5x1,800 pts

Restaurants$3,600/yr × 2x7,200 pts

Pharmacy$600/yr × 1.5x900 pts

Travel$1,800/yr × 2x3,600 pts

Bills & recurring payments$3,000/yr × 1.5x4,500 pts

Telecom$1,800/yr × 1.5x2,700 pts

Entertainment & streaming$1,200/yr × 1.5x1,800 pts

All other spending$6,000/yr × 1.5x9,000 pts

Total annual spend$30,000

Total monthly spend$2,500

Average earn rate on spend per year1.59x

Total points earned47,700 pts

Value of points accumulated in the first year≈ $477

Additional Benefits

Return Protection: if You are disappointed with an item within ninety (90) days from the date of purchase and the retailer will not accept a return, You can be reimbursed for the purchase price, up to three hundred dollars ($300.00) per item of personal property, and an annual maximum of one thousand dollars ($1,000.00) per Account. Personal Identity Theft: reimbursement up to fifteen thousand dollars ($15,000.00) for covered expenses You incur to restore Your identity as a result of a Covered Stolen Identity Event. Emergency Evacuation and Transportation benefit limit: up to one hundred thousand dollars ($100,000.00); Repatriation of Remains benefit limit: up to ten thousand dollars ($10,000.00), on a Covered Trip of not less than five (5) consecutive days and not more than sixty (60) consecutive days — this covers transportation, not medical expenses. Roadside Dispatch®: a pay-per-use roadside assistance program; the current fee for a standard service call is $69.95.