Bank of America
Bank of America Premium Rewards
Annual Fee
$95
Sign-up Bonus
60,000 pts
Travel Credit
$100
Where It Wins, Where It Doesn't
Generated from the card's data against our full catalog, not editorial opinion.
- Credits worth about $80/yr at typical usage offset 84% of the fee
Is the $95 Fee Worth It?
Net annual value (rewards + credits at typical usage, minus the fee) at three reference spending profiles. Signup bonuses excluded.
Everyday
Groceries, gas, and dining out a few times a month ($24,000/yr)
+$363/yr
$378 rewards + $80 credits - $95 fee
Foodie
Heavy dining and delivery, lighter on travel ($26,000/yr)
+$426/yr
$441 rewards + $80 credits - $95 fee
Traveler
Several trips a year with flights and hotels ($28,000/yr)
+$489/yr
$504 rewards + $80 credits - $95 fee
Rewards by Category
Dining
2x
Grocery
1.5x
Gas
1.5x
Flights
2x
Hotels
2x
Other Travel
2x
Online Shopping
1.5x
Rideshare
2x
Streaming
1.5x
Amazon
1.5x
Costco
1.5x
Other
1.5x
Apple
1.5x
Cell Phone
1.5x
Fast Food
2x
Home Utilities
1.5x
Internet
1.5x
Walmart
1.5x
Point value: 1.0 cents per point
The Fine Print That Changes the Math
2 points per $1 on travel and dining. 1.5 points per $1 on all other purchases. $100 airline incidentals credit annually. Preferred Rewards members can earn 25-75% more.
Benefits & Credits
Airline Incidental Credit$100
We count this at 80% of face value (typical usage)
Bank of America Premium Rewards FAQ
What is the Bank of America Premium Rewards annual fee?
The Bank of America Premium Rewards has a $95 annual fee. Statement credits worth about $80/yr at typical usage reduce the effective cost.
What is the Bank of America Premium Rewards signup bonus?
60,000 points for new cardholders meeting the minimum spend. Check the issuer's site for the current offer.
What are the best spending categories for the Bank of America Premium Rewards?
2x on flights, 2x on hotels, 2x on other travel. Everything else earns 1.5x.
Is the Bank of America Premium Rewards worth the annual fee?
At a typical $24,000/yr spending profile, it nets about $363/yr after the fee. Your own spending mix decides it; run the numbers in the optimizer.
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Is Bank of America Premium Rewards Right for You?
Run your personalized optimization to see how this card fits into your wallet and how much you could earn based on your actual spending.
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