Bank of America^® Premium Rewards^®: Travel and Dining Rewards with 60,000 Welcome Bonus Points

Pros and Cons

Pros:

• Sign-up bonus
• Bonus points on travel and dining
• The base rate is 1.5 points for every $1 spent
• No foreign transaction fees
• Up to $100 annual airline incidental statement credit
• Global Entry or TSA PreCheck statement credit
• BofA Rewards™ program
• Strong travel protections
• Purchase protections
• Extended warranty coverage

Cons:

• No transfer partners
• $95 annual fee
• No intro 0% APR
• High APR

Welcome Offer

Earn 60,000 bonus points after spending $4,000 in the first 90 days. That’s worth $600 when redeemed for cash.

Rewards

• 2X Points:
  • Travel
  • Dining
• 1.5X Points on all other purchases.

Big4credit Tip: Use this card for non-bonus spending. Pair it with a travel card that earns higher rewards on airfare, hotels, or other travel categories, then use the Premium Rewards^® card for purchases outside those bonus categories. BofA Rewards™ members can earn up to 2.62X points on everyday purchases, making it especially valuable as a companion card.

Redemption Options

• Flexible Redemption: Redeem points for cash back as a direct deposit into eligible Bank of America^® or Merrill^® accounts, a statement credit, gift cards, or travel through the Bank of America Travel Center.
• Redemption Value: 1 point = 1 cent.

Fees and APR

• Annual Fee: $95.
• Regular APR: 19.49% - 27.49% Variable APR.
• Balance Transfer Fees: 5% of each transfer amount.
• Foreign Transaction Fee: None.

Big4credit Tip: Pay your balance in full each month. This card does not offer a 0% introductory APR, so it’s best suited for cardholders who don’t plan to finance large purchases. Paying your statement balance in full helps you avoid interest charges, while making on-time payments can prevent late fees and the potential application of a penalty APR.

Annual Credits & Statement Credits

• Up to $100 Airline Incidental Credit: Get up to $100 in annual statement credits for airline incidentals like seat upgrades, baggage fees, in-flight purchases, and lounge access.

Big4credit Tip: Unlike many airline credit cards, this benefit isn’t tied to a specific carrier. You can use the credit for eligible incidental fees with the airline that best fits your travel plans, making it a good option for travelers who don’t stick to a single airline.

• Up to $100 Global Entry or TSA PreCheck^® Credit: Receive a statement credit (up to $100 every four years) as reimbursement for your Global Entry^® or TSA PreCheck^® application fee.

Bank Relationship Benefits

• BofA Rewards™ Eligibility: An eligible Bank of America^® personal checking account is required to enroll in BofA Rewards™.
• Boosted Rewards for BofA Rewards™ Members: If you’re enrolled in BofA Rewards™, you can earn 10% to 75% more points.
  • Member: 10% rewards bonus
    • 2.2X Points on travel and dining
    • 1.65X Points on all other purchases.
  • Preferred Plus: 25% rewards bonus
    • 2.5X Points on travel and dining
    • 1.87X Points on all other purchases.
  • Preferred Honors: 50% rewards bonus
    • 3X Points on travel and dining
    • 2.25X Points on all other purchases.
  • Premier: 75% rewards bonus
    • 3.5X Points on travel and dining
    • 2.62X Points on all other purchases.

» MORE: BofA Rewards™ program

Travel Benefits

Visa Signature^® Luxury Hotel Collection: Access to participating hotels offering benefits such as room upgrades when available, daily breakfast for two, and select on-property credits when booking through the Visa Luxury Hotel Collection portal (terms apply).

Travel Protections

• Trip Delay Reimbursement: If your trip is delayed by more than 12 hours or requires an overnight stay, you can be reimbursed up to $500 per traveler for expenses like meals and lodging.
• Trip Cancellation & Interruption Insurance: Get reimbursed up to $2,500 per person for prepaid, nonrefundable fares if your trip is canceled or interrupted due to covered reasons like illness or severe weather.
• Baggage Delay Insurance: Get reimbursed up to $100 per day for up to 5 days for essential purchases if your baggage is delayed more than 6 hours.
• Lost Luggage Reimbursement: Get reimbursed if your baggage or its contents are lost or stolen by a common carrier (airline, bus, train, or cruise).
• Emergency Evacuation & Transportation: Get reimbursed for emergency evacuation and transportation if you or an immediate family member become sick or injured while traveling away from home.
• Auto Rental Coverage: Get reimbursement for theft and collision damage when you decline the rental company’s coverage and pay in full with your card. Coverage is secondary.

Travel & Emergency Assistance

• Travel & Emergency Assistance: Access to emergency referral and coordination services while traveling (service referrals only; costs not covered).
• Roadside Assistance: Dispatch service available; service fees apply.

Purchase Protections

• Purchase Protection: Covers new purchases for 90 days against damage or theft, up to $10,000 per claim.
• Extended Warranty: Double the manufacturer’s warranty by up to one additional year on eligible warranties of three years or less.
• Return Protection: Reimburses for eligible items that the store won’t take back within 90 days of purchase, up to $250 per item and $1,000 per year.

Lifestyle Perks

Visa Signature Concierge: 24/7 concierge assistance for travel planning, dining reservations, event tickets, and other services (availability and outcomes not guaranteed).

Convenience Features

Digital wallet compatible: Apple Pay^®, Google Pay™, Samsung Pay.

Buy Now, Pay Later Options

Custom Pay Plan: Break up eligible credit card purchases into equal monthly payments. No interest, just a fixed monthly fee.

Ratings

• Net Value & Cost Efficiency: 8.7/10
• Rewards & Earnings Power: 9/10
• Welcome Bonus Value: 4/10
• APR & Interest Structure: 2.8/10
• Simplicity & Transparency: 8.8/10
• Perks, Benefits & Protections: 5.1/10
• Issuer Credibility & Stability: 6.9/10
• Installment & BNPL Features: 7/10
• Eligibility & Approval Accessibility: 7/10

Terms and Conditions

Click Apply Now to see the terms and conditions.

EarnSmart Rewards Strategy

• U.S. Bank Cash+^® Visa Signature: Earn 5% cashback in two categories of your choice, making it a strong option for utilities, internet service, and other recurring household bills.
• Discover it^®: Earn 5% cashback on rotating quarterly categories (activation required), adding additional high-reward opportunities beyond travel and dining.
• Altitude^® Connect: Adds elevated rewards on travel, gas, and EV charging purchases, helping optimize transportation spending beyond Premium Rewards^® everyday rewards structure.

» MORE: See Big4credit’s best credit cards