Bank of America Premium Rewards Elite
75,000 points welcome · 2x on travel · $550/yr
The Bank of America Premium Rewards Elite pairs a solid 1.5 points per dollar on everything with 2 points on travel and dining, and it offers 75,000 bonus points after $5,000 in purchases in three months. Its $550 annual fee is offset on paper by a $300 airline incidental credit, a $150 lifestyle credit for airlines, rideshare, or streaming, and a Global Entry or TSA PreCheck credit, and it includes Priority Pass Select memberships for you and up to three authorized users. You can also save 20% on airfare when you pay with points through BofA Travel or the Concierge. The catch is that the fee only pencils out if you reliably use both credits, which require enrollment, and the earn rates are modest for a premium card. Consider it if you will get full value from the credits and lounge access for your household, but be honest about whether you would spend that money anyway.
Earn rates & credits
| Category | Rate |
|---|---|
Travel | 2x |
Dining | 2x |
Everything Else | 1.5x |
| Benefit | Value |
|---|---|
Lifestyle Credit Annual credit for airlines, rideshare, or streaming services | $150 /yr |
Airline Incidental Credit Annual credit for airline incidental fees like baggage and seat upgrades | $300 /yr |
Global Entry / TSA PreCheck Credit Up to $120 statement credit for Global Entry or TSA PreCheck application fee | $120 every 4 yr |
Airfare Points Savings Save 20% on domestic or international airfare in any class when you pay with points through BofA Travel or the Concierge. | 20% |
| Total annual credits | $480 |
Card details
Regular APR | 19.49%–27.49% variable |
Foreign transaction fee | None |