Bank of America® Premium Rewards® Elite Credit Card
Bank of America
- 2%Points on travel and dining purchases
- 1.5%Points on all other purchases
Earn 75,000 bonus points after spending at least $5,000 in purchases within the first 90 days of account opening.
Earn unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points per $1 spent on all other purchases.
19.49% Variable APR
The Bank of America® Premium Rewards® Elite Credit Card is designed for frequent travelers, offering a robust point-earning structure that can be significantly enhanced through the Preferred Rewards Program. With a competitive welcome bonus and substantial annual statement credits, this card provides excellent value for those who qualify.
Pros:
- High earning potential with Preferred Rewards
- Significant annual statement credits
Cons:
- Annual fee may be high for some
- Requires Bank of America accounts for maximum benefits
The Bank of America® Premium Rewards® Elite Credit Card is best suited for frequent travelers who can take advantage of its competitive reward structure and substantial annual statement credits, making it a valuable option for those who can offset the $550 annual fee through its benefits. However, potential users should carefully assess their travel habits and spending patterns to determine if the rewards align with their financial goals.