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Earn 2x points on travel and dining with $570 in annual credits offsetting the $550 fee
The $550 annual fee card delivers $570 in statement credits ($300 airline, $150 lifestyle, $120 Global Entry every 4 years) plus 4 Priority Pass Select memberships and 20% airfare savings with points redemption. Preferred Rewards members earn up to 75% bonus points on all purchases.
$550
Annual Fee
75,000
Bank of America points · Welcome Bonus
2X
Top Rate
Annual Fee
$550
Foreign Transaction Fee
$0
Network
Visa Infinite
Rewards Currency
Bank of America points
Point Valuation
0.6–1 cpp (mid: 1)
Credit Required
Excellent
Welcome Offer
75,000
Bank of America points
Spend $5,000 in the first 90 months
New cardmembers earn 75,000 bonus points (worth $750 in statement credits or $937.50 toward flights with 20% airfare redemption bonus) after spending $5,000 on purchases within the first 90 days of account opening. Combines with standard earning rates for total of 82,500+ points from meeting spending requirement.
Benefits & Perks
Program & Transfers
Bank of America Rewards Points is a straightforward statement credit program with a fixed 1 cpp value for travel and dining redemptions. There are no transfer partners, so redemption flexibility is limited compared to Chase Ultimate Rewards or American Express Membership Rewards. However, the Preferred Rewards program can significantly boost earning rates by up to 75% for members with qualifying Bank of America and Merrill combined account balances.
Reviews & Analysis
Details & Terms
| Rule | Details |
|---|---|
| B of A 2/3/4 | Bank of America limits the number of personal cards issued by the bank that you can get within a certain time frame |
| No 5/24 | Card approval not subject to 5-personal-cards-in-24-months rule |
| Foreign Transaction Fee | $0 |
No, points don't expire as long as your Bank of America credit card account is open and active. Once you close a card, any unredeemed points on that card are lost.
No. Bank of America points cannot be transferred to external loyalty programs. You can only redeem them for statement credits, cash back, or gift cards.
Earn 2x points on travel and dining with $570 in annual credits offsetting the $550 fee
The $550 annual fee card delivers $570 in statement credits ($300 airline, $150 lifestyle, $120 Global Entry every 4 years) plus 4 Priority Pass Select memberships and 20% airfare savings with points redemption. Preferred Rewards members earn up to 75% bonus points on all purchases.
$550
Annual Fee
75,000
Bank of America points · Welcome Bonus
2X
Top Rate
Annual Fee
$550
Foreign Transaction Fee
$0
Network
Visa Infinite
Rewards Currency
Bank of America points
Point Valuation
0.6–1 cpp (mid: 1)
Credit Required
Excellent
Welcome Offer
75,000
Bank of America points
Spend $5,000 in the first 90 months
New cardmembers earn 75,000 bonus points (worth $750 in statement credits or $937.50 toward flights with 20% airfare redemption bonus) after spending $5,000 on purchases within the first 90 days of account opening. Combines with standard earning rates for total of 82,500+ points from meeting spending requirement.
Benefits & Perks
Program & Transfers
Bank of America Rewards Points is a straightforward statement credit program with a fixed 1 cpp value for travel and dining redemptions. There are no transfer partners, so redemption flexibility is limited compared to Chase Ultimate Rewards or American Express Membership Rewards. However, the Preferred Rewards program can significantly boost earning rates by up to 75% for members with qualifying Bank of America and Merrill combined account balances.
Reviews & Analysis
Details & Terms
| Rule | Details |
|---|---|
| B of A 2/3/4 | Bank of America limits the number of personal cards issued by the bank that you can get within a certain time frame |
| No 5/24 | Card approval not subject to 5-personal-cards-in-24-months rule |
| Foreign Transaction Fee | $0 |
No, points don't expire as long as your Bank of America credit card account is open and active. Once you close a card, any unredeemed points on that card are lost.
No. Bank of America points cannot be transferred to external loyalty programs. You can only redeem them for statement credits, cash back, or gift cards.
Earn 2x points on travel and dining with $570 in annual credits offsetting the $550 fee
The $550 annual fee card delivers $570 in statement credits ($300 airline, $150 lifestyle, $120 Global Entry every 4 years) plus 4 Priority Pass Select memberships and 20% airfare savings with points redemption. Preferred Rewards members earn up to 75% bonus points on all purchases.
$550
Annual Fee
75,000
Bank of America points · Welcome Bonus
2X
Top Rate
Annual Fee
$550
Foreign Transaction Fee
$0
Network
Visa Infinite
Rewards Currency
Bank of America points
Point Valuation
0.6–1 cpp (mid: 1)
Credit Required
Excellent
Welcome Offer
75,000
Bank of America points
Spend $5,000 in the first 90 months
New cardmembers earn 75,000 bonus points (worth $750 in statement credits or $937.50 toward flights with 20% airfare redemption bonus) after spending $5,000 on purchases within the first 90 days of account opening. Combines with standard earning rates for total of 82,500+ points from meeting spending requirement.
Benefits & Perks
Program & Transfers
Bank of America Rewards Points is a straightforward statement credit program with a fixed 1 cpp value for travel and dining redemptions. There are no transfer partners, so redemption flexibility is limited compared to Chase Ultimate Rewards or American Express Membership Rewards. However, the Preferred Rewards program can significantly boost earning rates by up to 75% for members with qualifying Bank of America and Merrill combined account balances.
Reviews & Analysis
Details & Terms
| Rule | Details |
|---|---|
| B of A 2/3/4 | Bank of America limits the number of personal cards issued by the bank that you can get within a certain time frame |
| No 5/24 | Card approval not subject to 5-personal-cards-in-24-months rule |
| Foreign Transaction Fee | $0 |
No, points don't expire as long as your Bank of America credit card account is open and active. Once you close a card, any unredeemed points on that card are lost.
No. Bank of America points cannot be transferred to external loyalty programs. You can only redeem them for statement credits, cash back, or gift cards.
Total face value: $480
Estimated annual value: $295
| Credit | Value | Category | Frequency | Details |
|---|---|---|---|---|
| $300 airline credit | $300 | Airlines | — | |
| $150 lifestyle credit | $150 | Statement Credit | — | |
| $120 Global Entry/TSA PreCheck | $120/Every 4 years | Statement Credit | Every 4 years |
Primary insurance covering theft and collision damage on rental vehicles, up to $75,000 per claim.
Access premium 24/7 multilingual travel assistance with enhanced coordination for medical, legal, and emergency services.
Reimbursement up to $3,000 when your baggage is lost or stolen by an airline or carrier during your trip.
Now, when you opt-in you can access your FICO® Score updated monthly for free, within your Mobile Banking app or in Online Banking.
Coverage up to $10,000 per claim for items stolen or damaged within 90 days of purchase.
Reimbursement for meals, lodging, and essentials up to $500 per day when your trip is delayed 6+ hours.
Bank of America is rebranding its Preferred Rewards program to 'BofA Rewards' in May 2026 with updated tier names, new elite benefits, and refreshed asset thresholds for Diamond tier
| Route / Property | Points | Book With | Cabin/Type | Value / Region |
|---|---|---|---|---|
| Domestic roundtrip flight statement credit | 30,000–50,000 | — | — | united_states |
| International economy flight statement credit | 60,000–100,000 | — | economy | europe |
| Premium cabin international flight statement credit | 100,000–150,000 | — | business | asia |
| Hotel stay statement credit | 15,000–30,000 | — | — | united_states |
| Vacation rental statement credit | 20,000–40,000 | — | — | united_states |
| Dining statement credit | 2,500–10,000 | — | — | global |
Positioned between mainstream travel cards and ultra-premium cards with its $550 annual fee. Offers stronger earning rates than Bank of America Premium Rewards (1.5x vs 1x base) and more credits than Capital One Venture ($550 AF, no lifestyle credit). Limited by fixed-value redemption at 1 cent per point with no transfer partners, unlike Chase Sapphire Reserve or Amex Platinum which offer transfer flexibility.
This premium card offers limited value for most people due to its high annual fee and restricted redemption options. Consider other premium travel cards first unless you specifically benefit from Bank of America's ecosystem and lifestyle credits.
This card is near the bottom of our recommendation list. For those willing to spend **$550** on an annual fee, several other cards provide better value than the Bank of America Premium Rewards Elite card.
The card's main weakness lies in its redemption options. Bank of America has **no airline or hotel transfer partners**, which limits the value of your points. However, the Premium Elite can make sense for one year if you already hold other premium travel cards. It offers a **75,000** signup bonus and several perks that help offset the fee, though many of these perks may duplicate benefits you already receive from another card.
Since the perks in year two likely will not justify the annual fee, we recommend **downgrading or canceling after the first year**.
The Bank of America Premium Rewards Elite card is the bank's premium offering with a $550 annual fee. It provides:
- 75,000 point sign-up bonus
- $300 credit for airline incidentals (including seat upgrades, baggage fees, lounge fees, and inflight services)
- $150 credit for lifestyle conveniences (video streaming services, food delivery, fitness subscriptions, and rideshare services)
- $100 TSA Precheck/Global Entry credit every 4 years
- 4 complimentary Priority Pass Select Memberships
While Bank of America doesn't offer airline or hotel transfer partners, they provide a 20% discount on airfare when booking through their portal and paying with points. This offers a value of 1.2 cents per point on redemptions. Though not as valuable as transfer partners, it's better than the standard 1 cent per point redemption elsewhere. Cardmembers earn 2x points on dining and travel and 1.5x points on all other purchases.
You can maximize this card's value by enrolling in Bank of America's Preferred Rewards program. This requires an eligible Bank of America personal checking account, and preferably a Merrill Investment account. Maintaining a three-month average balance of at least $20,000 across all Bank of America and Merrill Investment accounts qualifies you for Gold Tier status (balance between $20,000-$50,000), providing a 25% earning bonus. This makes each dollar spent worth 2.5 points instead of 2 and 1.875 points instead of 1.5. Four additional Preferred Rewards tiers exist, with Platinum Honors and Diamond offering up to a 75% earning bonus.
This card might not be suitable if:
- You value transfer partners, as Bank of America has none, limiting redemptions to 1 cent per point at best
- The $300 airline credit isn't valuable to you since it only covers incidentals, not airfare, making the high annual fee difficult to justify
**Bank of America Travel Rewards is a low tier program in the points and miles hobby:**
- There are one or two cards worth getting, but only in the right situations
- Having an existing relationship with the bank or needing a break from the big credit card issuers are the main reasons you might want to get into this system
- Redeeming rewards is simple and straightforward, but you’ll only earn 1 cent per point at best
- Many cards only offer cash back rewards
- Its lack of any transfer partners puts this system near the bottom of our rankings
The Bank of America Premium Rewards Elite card sits at the top of Bank of America's credit card lineup. Here's how it compares to other options within the Bank of America ecosystem:
Credit Utilization (60%)
Excludes earning value, lounge access, insurance, and elite status
Total Value Captured
$288
Annual Fee
-$550
Net Annual Value
-$262
You need at least 2,500 points to redeem. That's worth $25 toward travel/dining statement credits or $15 as cash back.
No. You cannot transfer points to another cardholder or person. You may be able to transfer rewards between your own eligible Bank of America accounts by calling customer service.
Preferred Rewards members earn 25% (Gold), 50% (Platinum), or 75% (Platinum Honors/Diamond) more points on every purchase. A card earning 1.5x would earn 2.625x at the Platinum Honors tier.
Flights, hotels, vacation rentals (including Airbnb), baggage fees, car rentals, and restaurant meals all qualify as travel/dining purchases.
Travel Rewards (no annual fee, 1.5x all), Premium Rewards ($95 AF, 2x travel/dining), Premium Rewards Elite ($550 AF with luxury travel benefits), Customized Cash Rewards (no AF, 5.25% in chosen category), and Unlimited Cash Rewards (no AF, simple cash back).
| Source | Date | URL |
|---|---|---|
| — | — | View source |
| — | — | View source |
Total face value: $480
Estimated annual value: $295
| Credit | Value | Category | Frequency | Details |
|---|---|---|---|---|
| $300 airline credit | $300 | Airlines | — | |
| $150 lifestyle credit | $150 | Statement Credit | — | |
| $120 Global Entry/TSA PreCheck | $120/Every 4 years | Statement Credit | Every 4 years |
Primary insurance covering theft and collision damage on rental vehicles, up to $75,000 per claim.
Access premium 24/7 multilingual travel assistance with enhanced coordination for medical, legal, and emergency services.
Reimbursement up to $3,000 when your baggage is lost or stolen by an airline or carrier during your trip.
Now, when you opt-in you can access your FICO® Score updated monthly for free, within your Mobile Banking app or in Online Banking.
Coverage up to $10,000 per claim for items stolen or damaged within 90 days of purchase.
Reimbursement for meals, lodging, and essentials up to $500 per day when your trip is delayed 6+ hours.
Bank of America is rebranding its Preferred Rewards program to 'BofA Rewards' in May 2026 with updated tier names, new elite benefits, and refreshed asset thresholds for Diamond tier
| Route / Property | Points | Book With | Cabin/Type | Value / Region |
|---|---|---|---|---|
| Domestic roundtrip flight statement credit | 30,000–50,000 | — | — | united_states |
| International economy flight statement credit | 60,000–100,000 | — | economy | europe |
| Premium cabin international flight statement credit | 100,000–150,000 | — | business | asia |
| Hotel stay statement credit | 15,000–30,000 | — | — | united_states |
| Vacation rental statement credit | 20,000–40,000 | — | — | united_states |
| Dining statement credit | 2,500–10,000 | — | — | global |
Positioned between mainstream travel cards and ultra-premium cards with its $550 annual fee. Offers stronger earning rates than Bank of America Premium Rewards (1.5x vs 1x base) and more credits than Capital One Venture ($550 AF, no lifestyle credit). Limited by fixed-value redemption at 1 cent per point with no transfer partners, unlike Chase Sapphire Reserve or Amex Platinum which offer transfer flexibility.
This premium card offers limited value for most people due to its high annual fee and restricted redemption options. Consider other premium travel cards first unless you specifically benefit from Bank of America's ecosystem and lifestyle credits.
This card is near the bottom of our recommendation list. For those willing to spend **$550** on an annual fee, several other cards provide better value than the Bank of America Premium Rewards Elite card.
The card's main weakness lies in its redemption options. Bank of America has **no airline or hotel transfer partners**, which limits the value of your points. However, the Premium Elite can make sense for one year if you already hold other premium travel cards. It offers a **75,000** signup bonus and several perks that help offset the fee, though many of these perks may duplicate benefits you already receive from another card.
Since the perks in year two likely will not justify the annual fee, we recommend **downgrading or canceling after the first year**.
The Bank of America Premium Rewards Elite card is the bank's premium offering with a $550 annual fee. It provides:
- 75,000 point sign-up bonus
- $300 credit for airline incidentals (including seat upgrades, baggage fees, lounge fees, and inflight services)
- $150 credit for lifestyle conveniences (video streaming services, food delivery, fitness subscriptions, and rideshare services)
- $100 TSA Precheck/Global Entry credit every 4 years
- 4 complimentary Priority Pass Select Memberships
While Bank of America doesn't offer airline or hotel transfer partners, they provide a 20% discount on airfare when booking through their portal and paying with points. This offers a value of 1.2 cents per point on redemptions. Though not as valuable as transfer partners, it's better than the standard 1 cent per point redemption elsewhere. Cardmembers earn 2x points on dining and travel and 1.5x points on all other purchases.
You can maximize this card's value by enrolling in Bank of America's Preferred Rewards program. This requires an eligible Bank of America personal checking account, and preferably a Merrill Investment account. Maintaining a three-month average balance of at least $20,000 across all Bank of America and Merrill Investment accounts qualifies you for Gold Tier status (balance between $20,000-$50,000), providing a 25% earning bonus. This makes each dollar spent worth 2.5 points instead of 2 and 1.875 points instead of 1.5. Four additional Preferred Rewards tiers exist, with Platinum Honors and Diamond offering up to a 75% earning bonus.
This card might not be suitable if:
- You value transfer partners, as Bank of America has none, limiting redemptions to 1 cent per point at best
- The $300 airline credit isn't valuable to you since it only covers incidentals, not airfare, making the high annual fee difficult to justify
**Bank of America Travel Rewards is a low tier program in the points and miles hobby:**
- There are one or two cards worth getting, but only in the right situations
- Having an existing relationship with the bank or needing a break from the big credit card issuers are the main reasons you might want to get into this system
- Redeeming rewards is simple and straightforward, but you’ll only earn 1 cent per point at best
- Many cards only offer cash back rewards
- Its lack of any transfer partners puts this system near the bottom of our rankings
The Bank of America Premium Rewards Elite card sits at the top of Bank of America's credit card lineup. Here's how it compares to other options within the Bank of America ecosystem:
Credit Utilization (60%)
Excludes earning value, lounge access, insurance, and elite status
Total Value Captured
$288
Annual Fee
-$550
Net Annual Value
-$262
You need at least 2,500 points to redeem. That's worth $25 toward travel/dining statement credits or $15 as cash back.
No. You cannot transfer points to another cardholder or person. You may be able to transfer rewards between your own eligible Bank of America accounts by calling customer service.
Preferred Rewards members earn 25% (Gold), 50% (Platinum), or 75% (Platinum Honors/Diamond) more points on every purchase. A card earning 1.5x would earn 2.625x at the Platinum Honors tier.
Flights, hotels, vacation rentals (including Airbnb), baggage fees, car rentals, and restaurant meals all qualify as travel/dining purchases.
Travel Rewards (no annual fee, 1.5x all), Premium Rewards ($95 AF, 2x travel/dining), Premium Rewards Elite ($550 AF with luxury travel benefits), Customized Cash Rewards (no AF, 5.25% in chosen category), and Unlimited Cash Rewards (no AF, simple cash back).
| Source | Date | URL |
|---|---|---|
| — | — | View source |
| — | — | View source |
Total face value: $480
Estimated annual value: $295
| Credit | Value | Category | Frequency | Details |
|---|---|---|---|---|
| $300 airline credit | $300 | Airlines | — | |
| $150 lifestyle credit | $150 | Statement Credit | — | |
| $120 Global Entry/TSA PreCheck | $120/Every 4 years | Statement Credit | Every 4 years |
Primary insurance covering theft and collision damage on rental vehicles, up to $75,000 per claim.
Access premium 24/7 multilingual travel assistance with enhanced coordination for medical, legal, and emergency services.
Reimbursement up to $3,000 when your baggage is lost or stolen by an airline or carrier during your trip.
Now, when you opt-in you can access your FICO® Score updated monthly for free, within your Mobile Banking app or in Online Banking.
Coverage up to $10,000 per claim for items stolen or damaged within 90 days of purchase.
Reimbursement for meals, lodging, and essentials up to $500 per day when your trip is delayed 6+ hours.
Bank of America is rebranding its Preferred Rewards program to 'BofA Rewards' in May 2026 with updated tier names, new elite benefits, and refreshed asset thresholds for Diamond tier
| Route / Property | Points | Book With | Cabin/Type | Value / Region |
|---|---|---|---|---|
| Domestic roundtrip flight statement credit | 30,000–50,000 | — | — | united_states |
| International economy flight statement credit | 60,000–100,000 | — | economy | europe |
| Premium cabin international flight statement credit | 100,000–150,000 | — | business | asia |
| Hotel stay statement credit | 15,000–30,000 | — | — | united_states |
| Vacation rental statement credit | 20,000–40,000 | — | — | united_states |
| Dining statement credit | 2,500–10,000 | — | — | global |
Positioned between mainstream travel cards and ultra-premium cards with its $550 annual fee. Offers stronger earning rates than Bank of America Premium Rewards (1.5x vs 1x base) and more credits than Capital One Venture ($550 AF, no lifestyle credit). Limited by fixed-value redemption at 1 cent per point with no transfer partners, unlike Chase Sapphire Reserve or Amex Platinum which offer transfer flexibility.
This premium card offers limited value for most people due to its high annual fee and restricted redemption options. Consider other premium travel cards first unless you specifically benefit from Bank of America's ecosystem and lifestyle credits.
This card is near the bottom of our recommendation list. For those willing to spend **$550** on an annual fee, several other cards provide better value than the Bank of America Premium Rewards Elite card.
The card's main weakness lies in its redemption options. Bank of America has **no airline or hotel transfer partners**, which limits the value of your points. However, the Premium Elite can make sense for one year if you already hold other premium travel cards. It offers a **75,000** signup bonus and several perks that help offset the fee, though many of these perks may duplicate benefits you already receive from another card.
Since the perks in year two likely will not justify the annual fee, we recommend **downgrading or canceling after the first year**.
The Bank of America Premium Rewards Elite card is the bank's premium offering with a $550 annual fee. It provides:
- 75,000 point sign-up bonus
- $300 credit for airline incidentals (including seat upgrades, baggage fees, lounge fees, and inflight services)
- $150 credit for lifestyle conveniences (video streaming services, food delivery, fitness subscriptions, and rideshare services)
- $100 TSA Precheck/Global Entry credit every 4 years
- 4 complimentary Priority Pass Select Memberships
While Bank of America doesn't offer airline or hotel transfer partners, they provide a 20% discount on airfare when booking through their portal and paying with points. This offers a value of 1.2 cents per point on redemptions. Though not as valuable as transfer partners, it's better than the standard 1 cent per point redemption elsewhere. Cardmembers earn 2x points on dining and travel and 1.5x points on all other purchases.
You can maximize this card's value by enrolling in Bank of America's Preferred Rewards program. This requires an eligible Bank of America personal checking account, and preferably a Merrill Investment account. Maintaining a three-month average balance of at least $20,000 across all Bank of America and Merrill Investment accounts qualifies you for Gold Tier status (balance between $20,000-$50,000), providing a 25% earning bonus. This makes each dollar spent worth 2.5 points instead of 2 and 1.875 points instead of 1.5. Four additional Preferred Rewards tiers exist, with Platinum Honors and Diamond offering up to a 75% earning bonus.
This card might not be suitable if:
- You value transfer partners, as Bank of America has none, limiting redemptions to 1 cent per point at best
- The $300 airline credit isn't valuable to you since it only covers incidentals, not airfare, making the high annual fee difficult to justify
**Bank of America Travel Rewards is a low tier program in the points and miles hobby:**
- There are one or two cards worth getting, but only in the right situations
- Having an existing relationship with the bank or needing a break from the big credit card issuers are the main reasons you might want to get into this system
- Redeeming rewards is simple and straightforward, but you’ll only earn 1 cent per point at best
- Many cards only offer cash back rewards
- Its lack of any transfer partners puts this system near the bottom of our rankings
The Bank of America Premium Rewards Elite card sits at the top of Bank of America's credit card lineup. Here's how it compares to other options within the Bank of America ecosystem:
Credit Utilization (60%)
Excludes earning value, lounge access, insurance, and elite status
Total Value Captured
$288
Annual Fee
-$550
Net Annual Value
-$262
You need at least 2,500 points to redeem. That's worth $25 toward travel/dining statement credits or $15 as cash back.
No. You cannot transfer points to another cardholder or person. You may be able to transfer rewards between your own eligible Bank of America accounts by calling customer service.
Preferred Rewards members earn 25% (Gold), 50% (Platinum), or 75% (Platinum Honors/Diamond) more points on every purchase. A card earning 1.5x would earn 2.625x at the Platinum Honors tier.
Flights, hotels, vacation rentals (including Airbnb), baggage fees, car rentals, and restaurant meals all qualify as travel/dining purchases.
Travel Rewards (no annual fee, 1.5x all), Premium Rewards ($95 AF, 2x travel/dining), Premium Rewards Elite ($550 AF with luxury travel benefits), Customized Cash Rewards (no AF, 5.25% in chosen category), and Unlimited Cash Rewards (no AF, simple cash back).
| Source | Date | URL |
|---|---|---|
| — | — | View source |
| — | — | View source |
Get reimbursed up to $300 per item (up to $1,000/year) when a merchant refuses to accept a return.
Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delay, lost luggage reimbursement, roadside assis...
Accidental death and dismemberment coverage up to $500,000 when traveling on trips purchased with the card.
Extends manufacturer warranties by one year on eligible items with 3-year or shorter original warranties.
Reimbursement up to $2,000 for prepaid trip expenses if you must cancel due to illness, injury, or other covered reasons.
- **Bank of America Premium Rewards**($95 annual fee)
- 60,000 point sign-up bonus
- Up to $100 in airline incidentals credit annually
- $100 TSA Precheck/Global Entry credit every 4 years
- Earns 2x points on travel and dining, 1.5x points on everything else
For those seeking no-annual-fee alternatives, Bank of America offers several options:
- **Bank of America Travel Rewards**
- 25,000 point welcome offer after spending $1,000 in 90 days
- Simple earning structure with 1.5x points on all purchases
- Points redeemable for any restaurant or travel-related purchase
The cash back category includes two no-annual-fee options, both featuring $200 sign-up bonuses but with different earning structures:
1. **Bank of America Customized Cash Rewards** allows you to select one 3% cash back category while also earning 2% on groceries and wholesale clubs. Note that there's a $2,500 combined quarterly spending cap on these bonus categories, after which you'll earn 1%.
2. **Bank of America Unlimited Cash Rewards** simplifies your earnings with a flat 1.5% cash back on all purchases with no spending limits or category restrictions.
When deciding between these options, consider whether the Premium Rewards Elite's additional benefits justify its $550 annual fee compared to the more affordable alternatives within the Bank of America portfolio.
Get reimbursed up to $300 per item (up to $1,000/year) when a merchant refuses to accept a return.
Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delay, lost luggage reimbursement, roadside assis...
Accidental death and dismemberment coverage up to $500,000 when traveling on trips purchased with the card.
Extends manufacturer warranties by one year on eligible items with 3-year or shorter original warranties.
Reimbursement up to $2,000 for prepaid trip expenses if you must cancel due to illness, injury, or other covered reasons.
- **Bank of America Premium Rewards**($95 annual fee)
- 60,000 point sign-up bonus
- Up to $100 in airline incidentals credit annually
- $100 TSA Precheck/Global Entry credit every 4 years
- Earns 2x points on travel and dining, 1.5x points on everything else
For those seeking no-annual-fee alternatives, Bank of America offers several options:
- **Bank of America Travel Rewards**
- 25,000 point welcome offer after spending $1,000 in 90 days
- Simple earning structure with 1.5x points on all purchases
- Points redeemable for any restaurant or travel-related purchase
The cash back category includes two no-annual-fee options, both featuring $200 sign-up bonuses but with different earning structures:
1. **Bank of America Customized Cash Rewards** allows you to select one 3% cash back category while also earning 2% on groceries and wholesale clubs. Note that there's a $2,500 combined quarterly spending cap on these bonus categories, after which you'll earn 1%.
2. **Bank of America Unlimited Cash Rewards** simplifies your earnings with a flat 1.5% cash back on all purchases with no spending limits or category restrictions.
When deciding between these options, consider whether the Premium Rewards Elite's additional benefits justify its $550 annual fee compared to the more affordable alternatives within the Bank of America portfolio.
Get reimbursed up to $300 per item (up to $1,000/year) when a merchant refuses to accept a return.
Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delay, lost luggage reimbursement, roadside assis...
Accidental death and dismemberment coverage up to $500,000 when traveling on trips purchased with the card.
Extends manufacturer warranties by one year on eligible items with 3-year or shorter original warranties.
Reimbursement up to $2,000 for prepaid trip expenses if you must cancel due to illness, injury, or other covered reasons.
- **Bank of America Premium Rewards**($95 annual fee)
- 60,000 point sign-up bonus
- Up to $100 in airline incidentals credit annually
- $100 TSA Precheck/Global Entry credit every 4 years
- Earns 2x points on travel and dining, 1.5x points on everything else
For those seeking no-annual-fee alternatives, Bank of America offers several options:
- **Bank of America Travel Rewards**
- 25,000 point welcome offer after spending $1,000 in 90 days
- Simple earning structure with 1.5x points on all purchases
- Points redeemable for any restaurant or travel-related purchase
The cash back category includes two no-annual-fee options, both featuring $200 sign-up bonuses but with different earning structures:
1. **Bank of America Customized Cash Rewards** allows you to select one 3% cash back category while also earning 2% on groceries and wholesale clubs. Note that there's a $2,500 combined quarterly spending cap on these bonus categories, after which you'll earn 1%.
2. **Bank of America Unlimited Cash Rewards** simplifies your earnings with a flat 1.5% cash back on all purchases with no spending limits or category restrictions.
When deciding between these options, consider whether the Premium Rewards Elite's additional benefits justify its $550 annual fee compared to the more affordable alternatives within the Bank of America portfolio.
