Bank of America Premium Rewards - Find Me a Card

Bank of America Premium Rewards

A mediocre travel rewards cards with a good 50K points signup bonus, and with 2x points on travel and dining and 1.5x on everything else, but a $95 annual fee.

Your total savings: $0 over the next 5 years

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Credit Score Required:
Average (670-739)
Issuer:
Bank of America
Network:
Visa

Rewards & Perks

Reward Highlights

  • 50,000 bonus points after you spend $3K within the first 3 months.
  • 2x points on travel and dining purchases.
  • 1.5 points per dollar for all other purchases.
  • Get up to a $100 Airline Incidental Statement Credit annually for qualifying purchases such as seat upgrades, baggage fees, in-flight services, and airline lounge fees - automatically applied to your card statement.
  • Visa Signature Luxury Hotel Collection privileges: Enjoy a premium set of benefits when you use your Premium Rewards card to book through the Visa Signature Luxury Hotel Collection.
  • Personal concierge service (via Visa Signature Concierge): Visa Signature concierge service gives you access to concierges who can help with travel planning, restaurant recommendations, and event reservations.

Other Rewards & Perks

  • If you're a Bank of American Gold Preferred Rewards client, you'll earn 25% more points on every purchase.
  • If you're a Bank of American Platinum Preferred Rewards client, you'll earn 50% more points on every purchase.
  • If you're a Bank of American Platinum Honors Preferred Rewards client, you'll earn 75% more points on every purchase.
  • Car rental loss and damage insurance: Provides you reimbursement for damage due to collision or theft. Coverage is supplemental to and in excess of other insurance. You must decline the collision/loss damage waiver offered by the auto rental agency.
  • Baggage delay insurance: Provides reimbursement of up to $100 per day (up to five days), when your bags are delayed or misdirected by a common carrier for more than six hours for essential items including clothing.
  • Emergency evacuation & transportation: If you or a member of your immediate family are injured or become sick during a trip far from home that results in an emergency evacuation, you can be covered for eligible medical services and transportation.
  • Global Entry or TSA Pre-Check fee credit: Receive a statement credit of up to $100 every 4 years as reimbursement for the application fee charged to your card.
  • Lost luggage reimbursement (up to $3,000 per passenger): Provides you coverage for luggage and its contents if they are lost or stolen due to theft or misdirection by the common carrier (airline, bus, train, cruise ship).
  • Roadside dispatch: 24-hour, toll-free referral dispatch for emergency roadside assistance services like towing, changing a flat tire, boosting a battery, fuel delivery, and more.
  • Trip cancellation/trip interruption insurance: If your trip is canceled or cut short by sickness, severe weather and other covered situations, you can be reimbursed for your pre-paid, non-refundable travel expenses, including passenger fares, tours, etc.
  • Trip delay reimbursement: Provides reimbursement (e.g., up to $500 per purchased ticket) for you and your eligible family members for reasonable expenses if a covered trip is delayed (due to a covered hazard) for more than 12 hours (or for more than 6 hours, depending on which credit card you have).
  • Travel and emergency assistance services: Lets you get help coordinating medical, legal, and travel services when you are traveling. The cost of any goods or services is your responsibility.
  • Extended warranty for warranties of 3 years or less: Extends the time period of the U.S. manufacturer's warranty (by an additional 1+ years) for eligible items that would otherwise have warranties of 3 years or less. (Refer to the offer details on the credit card issuer's website for details about dollar limits and exclusions.)
  • Purchase Protection (90 days): Can repair, replace or reimburse you, if an eligible item purchased with the card is stolen or damaged within 90 days of purchase.
  • Return protection (90 days): You can be reimbursed for eligible items that the store won't take back within 90 days of purchase.
  • Free online access to your FICO credit score: You can opt-in to access your FICO Score updated monthly for free, within your Mobile Banking app or in Online Banking.
  • Fraud protection: Your card transactions will be monitored for possible signs of fraudulent activity. (Depending on the credit card and issuer, this may also include a $0 liability guarantee for fraudulent transactions.)
  • Overdraft protection: A service to help prevent declined purchases, returned checks, or other overdrafts.
  • Account alerts: Stay on top of your balances and due dates by setting customer email or text alerts.

Special Signup (Promo) Rewards & Perks

  • 50K bonus points after you spend $3K within the first 3 months.
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Rates & Fees

Summary of Rates & Fees

  • $95 annual fee.
  • APR on purchases and balance transfers: 15.99-22.99%.
  • No foreign transaction fees.

Annual Fee: $95

Interest Rate (“Purchase APR”): 15.99-22.99%

BT Fee: 3% of BT

BT APR: 15.99-22.99%

Cash Advance Fee: 5%

Cash Advance APR: 27.24%

Cash Advance Notes

  • Fee for direct deposit and check cash advances: Either $10 or 3% of the amount of each transaction, whichever is greater.
  • Fee for ATM, over-the-counter, same-day online, and cash equivalent cash advances: Either $10 or 5% of the amount of each transaction, whichever is greater.
  • Fee for overdraft protection cash advances (if enrolled): $12 for each transaction.
  • APR for direct deposit and check cash advances: 18.99-25.99%.
  • APR for bank cash advances: 27.24%.
  • APRs will vary with the market based on the Prime Rate.

Overdraft Notes

  • Overdraft protection cash advance fee (if enrolled): $12 for each transaction.

Penalty APR: 29.99%

User Ratings & Reviews

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Other Info

Date Introduced: 2017-09-18

Date Last Updated: 2021-02-10


Summary of Penalty Conditions

This APR will vary with the market based on the Prime Rate. This APR may be applied to new transactions on your account if you: Make a late payment. How Long Will the Penalty APR Apply?: If your APRs are increased, the Penalty APR will apply indefinitely.


Go to bankofamerica.com to learn more

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