Bank of America® Premium Rewards® Elite Credit Card 2026 Review

Mika L.
Written by Mika L.
Financial Content Writer
Mat C.
Edited by Mat C.
Managing Editor & Senior Developer

Bank of America® Premium Rewards® Elite Credit Card4.0/5

Bank of America

Annual fee
$550
Rewards rate
2%-1.5%
Welcome Bonus
75,000 bonus points
Apply Now →on Bank of America's website
Regular APR:19.49%-27.49% variable APR

  • 2%Points on travel and dining
  • 1.5%Points on all other purchases

Welcome Bonus:

Earn 75,000 bonus points after spending $5,000 in the first 90 days.

Reward Rate:

Earn 2 points for every $1 spent on travel and dining, and 1.5 points on all other purchases.

APR:

19.49%-27.49% variable APR

The Bank of America® Premium Rewards® Elite Credit Card is an excellent choice for affluent travelers who can leverage its substantial travel credits and rewards structure to offset its annual fee.

Pros:

  • Strong rewards on travel and dining
  • Significant travel credits

Cons:

  • Annual fee may be high for some
  • Limited transfer partners
Apply now →

The Bank of America® Premium Rewards® Elite Credit Card is best suited for high-spending travelers who can maximize the benefits of its rewards program and travel credits, making the annual fee more justifiable through strategic use of the card's features. Those who frequently travel and spend in categories that earn elevated rewards may find this card particularly advantageous.

Frequently Asked Questions