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Bank of America® Premium Rewards® Elite Credit Card

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VISA

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Card review

Bank of America® Premium Rewards® Elite Credit Card

4.6 9.2/10 DebitCue Score Verified Jun 20, 2026

Luxury travel card with Priority Pass and $570 in annual credits

Fee: $550 USD/yr
Purchase APR: 19.49% - 27.49%
Interest-free: -
Foreign fee: None

Rewards

2 points per $1 on travel and dining; 1.5 points per $1 on all other purchases. 20% savings when redeeming points for airfare. Points are worth 1¢ each (1.2¢ on airfare redemptions with the 20% savings).

Welcome offer

75,000 bonus points (worth $750) after $5,000 in purchases in the first 90 days

Our verdict

What stands out, and where it falls short.

What we like

2 points per $1 on travel and dining; 1.5…
Welcome bonus
No foreign transaction fees
Airport lounge access
Travel insurance included

Worth weighing

$550 USD/yr card fee

Who It Is For

Whether the Bank of America® Premium Rewards® Elite Credit Card fits how you actually spend.

Pick it if you are

Frequent travelers
People who want rewards on their spending
Travelers who value airport lounges
People who pay big purchases off over time

Skip it if you are

Light spenders who won't beat the $550 USD/yr fee

Rates and fees

As of June 20, 2026

All amounts shown in USD.

Card fee: $550 USD/yr
Purchase APR: 19.49% - 27.49%
Interest-free period: -
Foreign transaction fee: None
Regular APR: 19.49%–27.49% variable (no intro APR)
Annual Fee: $550

Rewards and features

Rewards: 2 points per $1 on travel and dining; 1.5 points per $1 on all other purchases. 20% savings when redeeming points for airfare. Points are worth 1¢ each (1.2¢ on airfare redemptions with the 20% savings).
Welcome offer: 75,000 bonus points (worth $750) after $5,000 in purchases in the first 90 days
Installments: Custom Pay Plan available for eligible purchases $100+
Pay with: Apple Pay, Google Pay, Contactless
Visa Tier: Visa Infinite
Net Annual Credit Value: Up to $570 in combined annual statement credits ($300 airline + $150 lifestyle + pro-rated $120 TSA/GE credit)

Benefits and perks

Extras that come bundled with the card.

Priority Pass Select Lounge Access

Unlimited access to 1,400+ Priority Pass lounges worldwide; up to 2 complimentary guests per visit
Airline Incidental Credit

Up to $300 per year in statement credits for airline incidental fees
Lifestyle Statement Credit

Up to $150 per year for streaming services, food delivery, fitness subscriptions, and rideshare
Global Entry / TSA PreCheck Credit

Up to $120 application fee credit every four years
Comprehensive Travel Insurance

Trip delay, trip cancellation/interruption, lost luggage, baggage delay, emergency evacuation coverage
Primary Rental Car Coverage

Primary collision/theft damage waiver up to $75,000
Purchase Protection & Return Protection

Purchase security, extended warranty, and return protection up to $300 per item
Visa Infinite Concierge

24/7 concierge service for travel, dining, events, and personal requests
No Foreign Transaction Fee

0% foreign transaction fee on all international purchases

Eligibility

What you need before you apply.

Credit Score: Excellent credit recommended (750+ FICO)

Bank of America® Premium Rewards® Elite Credit Card: your questions answered

How much does the Bank of America® Premium Rewards® Elite Credit Card cost?

The Bank of America® Premium Rewards® Elite Credit Card costs $550 USD/yr.

What rewards does the Bank of America® Premium Rewards® Elite Credit Card earn?

The Bank of America® Premium Rewards® Elite Credit Card earns 2 points per $1 on travel and dining; 1.5 points per $1 on all other purchases. 20% savings when redeeming points for airfare. Points are worth 1¢ each (1.2¢ on airfare redemptions with the 20% savings)..

Does the Bank of America® Premium Rewards® Elite Credit Card charge foreign transaction fees?

No - the Bank of America® Premium Rewards® Elite Credit Card has no foreign transaction fees, so it suits spending abroad.

What is the interest rate on the Bank of America® Premium Rewards® Elite Credit Card?

The Bank of America® Premium Rewards® Elite Credit Card has a purchase APR of 19.49% - 27.49%.

Does the Bank of America® Premium Rewards® Elite Credit Card have a welcome offer?

Yes - 75,000 bonus points (worth $750) after $5,000 in purchases in the first 90 days.

Can I pay in installments with the Bank of America® Premium Rewards® Elite Credit Card?

Yes - Custom Pay Plan available for eligible purchases $100+.

Is the Bank of America® Premium Rewards® Elite Credit Card a credit, debit or prepaid card?

The Bank of America® Premium Rewards® Elite Credit Card is a credit card issued by Bank of America on the Visa network.

Does the Bank of America® Premium Rewards® Elite Credit Card support Apple Pay and Google Pay?

Yes - the Bank of America® Premium Rewards® Elite Credit Card works with both Apple Pay and Google Pay.

Where can I get the Bank of America® Premium Rewards® Elite Credit Card?

The Bank of America® Premium Rewards® Elite Credit Card is currently offered in United States.

How does DebitCue rate the Bank of America® Premium Rewards® Elite Credit Card?

DebitCue rates the Bank of America® Premium Rewards® Elite Credit Card 4.6 out of 5 (9.2/10), scored on the same factors as every card - fees, rewards, perks and ease of use.