The Bank of America Premium Rewards card has a $95 annual fee and earns 2 points per $1 on travel and dining and 1.5 points per $1 on everything else, according to Bank of America's card page, read October 16, 2026. It suits people who spend steadily on travel and dining and want a travel card with a moderate fee.
Premium Rewards at a Glance
- Annual fee: $95.
- Welcome offer: 60,000 online bonus points, which Bank of America values at $600, after at least $4,000 in purchases in the first 90 days.
- Earning: 2 points per $1 on travel and dining, and 1.5 points per $1 on all other purchases. There's no cap on points earned, and points don't expire while the account is open.
- Foreign transaction fees: none on purchases outside the U.S.
- Rates: a standard variable APR of 19.74% to 27.74%, with no introductory APR, and a 5% balance transfer fee.
The Statement Credits
Two credits come with the card. You get up to $100 a year in airline incidental statement credits, which cover items such as seat upgrades and baggage fees. You also get up to $100 toward a TSA PreCheck or Global Entry fee every four years.
How You Redeem
Bank of America lets you redeem points as cash back into an eligible Bank of America checking or savings account, as a credit to an eligible Merrill account (including 529 plans), as a statement credit, or for gift cards and Bank of America Travel purchases. The card page also describes a Bank of America Rewards bonus for Preferred Rewards members on credit card purchases, so check your tier before you apply.
Other Benefits
The card includes travel, purchase and automotive protections, Visa Signature Luxury Hotel Collection and concierge access, and a $0 Liability Guarantee.
Who Should Get It
This card fits you if you spend steadily on travel and dining. Its redemption options run through Bank of America, so it works best for people who'd use cash back into a Bank of America account or Bank of America Travel. If lounge access matters to you, compare it with the cards in our guide to travel credit cards with lounge access before you apply.
