Bank of America Premium Rewards Credit Card

2x Travel & Dining with $100 Airline Credit

Annual Fee $95

Earning Rate 2x travel • 2x dining • 1.5x everything else • BofA Rewards bonus: 10%–75% on base earnings

Welcome Bonus 60,000 points after $4,000 spend in 90 days

Card Material Plastic card with matte finish • colors: Black

Practical Recommendation

Want a simple travel card that actually pays for itself? This is it. You get clean earn rates (2x on travel and dining, 1.5x everywhere else), easy redemptions at a flat 1¢ per point, and two useful credits that can wipe out the annual fee if you fly even once a year.

It's good out of the box; it's great if you bank with Bank of America. The BofA Rewards boost adds 10%–75% to base earn, which at the top turns 2x into 3.5x and 1.5x into 2.625x. Fair warning: the program was rebuilt in May 2026 and the 75% boost now takes $1 million in balances—$100,000 gets you 50%, so the ceiling most people can reach is 3x travel/dining. If you want transfer partners or lounges, look elsewhere. If you want easy value, this is low-maintenance.

Credits

Practical Advice

This is what makes or breaks a card for you. If you can use these credits in your normal spend, the perks and protections are all bonus for you. We have a calculator at the bottom of this section to help you calculate that. Below we break down exactly what every credit is to show you if it's easy or if they're going to make you jump through 17 hoops to redeem it.

$100 Airline Incidental Credit (each calendar year) – Automatically reimburses up to $100 per calendar year for qualifying airline incidentals like checked bags, seat selection, ticket change fees, day-pass lounge purchases, and in-flight food and Wi-Fi. No airline selection required; credits post after eligible charges. Airfare, upgrades baked into the ticket, gift cards, and mileage purchases are typically excluded. Great for anyone who pays bag/seat fees even once a year. — Official terms (BofA) • Helpful explainer — How it posts & what triggers
$100 Global Entry / TSA PreCheck Credit (every 4 years) – Up to $100 back when you charge a Global Entry or Transportation Security Administration PreCheck application to the card. Choose Global Entry ($120) over TSA PreCheck ($78) since Global Entry includes TSA PreCheck plus faster customs re-entry — you'll pay $20 out of pocket, which is worth it. Posts automatically in 2–3 weeks. You can use it for someone else if you pay with your card. Simple, set-and-forget value if you ever fly. — Global Entry • TSA PreCheck • Official terms (BofA)

Click Here to Calculate Your Annual Fee

Credit

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Your Value

Practical Tip

You can edit the amounts in the number fields if you value a credit at less than the full value. For example, if you only use a $10/month Uber credit half the months, you might value it at $60 instead of $120.

Airline Incidental Credit

What It Is:	Up to $100 in statement credits each calendar year for airline incidental fees (checked bags, seat assignments, same-day changes, lounge day passes, in-flight food/Wi-Fi).
How It Works:	Pay eligible incidentals with the card; credits post automatically until you hit $100 for the year—no airline selection needed.
Gotchas:	Doesn't cover airfare, award taxes, gift cards, mileage purchases, or upgrades bundled into the ticket. Charges must post by Dec 31 to count for that year.
Who Actually Benefits:	Anyone who flies once or twice a year and pays bag/seat fees or buys onboard Wi-Fi.
Practical Value:	Real $100 annually if you fly; $0 if you don't.

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Your Value:

Global Entry / TSA PreCheck Credit

What It Is:	Up to $100 in statement credits once every 4 years for a Global Entry ($120) or Transportation Security Administration PreCheck ($78) application. Global Entry is the better choice since it includes TSA PreCheck plus faster customs re-entry, even though the $120 fee leaves $20 uncovered.
How It Works:	Charge the fee to the card; the credit appears automatically (usually within 2–3 weeks). Global Entry includes Transportation Security Administration PreCheck.
Gotchas:	One credit per 4-year window per account; account must be open/good standing when the credit posts.
Who Actually Benefits:	Travelers who want shorter security lines or faster re-entry to the U.S.
Practical Value:	Easy $100 every four years if you apply or renew (Global Entry now costs $120, so you cover the last $20).

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Your Value:

Annual Fee: $95

Your Credits: $0

YOUR Annual Fee: $95

This is effectively what you are paying for this card. It is now up to you if the perks, protections, and earning rates are worth this fee to you over other cards.

Perks

Earning, at a glance – 2x on travel and dining; 1.5x everywhere else. Straightforward categories with no caps.
BofA Rewards bonus (10%–75%) – A Bank of America checking account alone gets you Member tier and a 10% boost; balances move you to Preferred Plus ($30k, 25%), Preferred Honors ($100k, 50%), or Premier ($1M, 75%). At the top that's 3.5x travel/dining and 2.625x everywhere else. — BofA Rewards
Simple redemptions at 1¢ – Redeem points for statement credits, travel through the portal, or cash deposits; practical value is a clean 1¢ per point. — Redemption overview
Pool points within BofA "points" cards – Combine balances across points-earning BofA cards for easier redemptions (separate from "cash back" products).
No foreign transaction fees – Take it abroad without the 1%–3% surcharge many cards still charge. — No-FTF cards (BofA)

Protections

Trip Delay Insurance – Reimburses up to $500 for hotels/meals when a covered trip is delayed 12+ hours. Useful for overnight disruptions.
Trip Cancellation/Interruption – Up to $2,500 for nonrefundable passenger fares if you must cancel/cut short for covered reasons.
Baggage Delay/Loss – Essentials reimbursement for delayed bags and coverage for lost items by the carrier (caps apply).
Rental Car Insurance (Secondary CDW) – Covers theft/damage to your rental when you pay with the card and decline the agency's CDW (not liability).
Purchase Protection – Short-term coverage for theft/accidental damage on eligible new items.
Extended Warranty – Adds extra warranty time on eligible purchases.

BofA Rewards: How to Boost Your Points

If you bank with Bank of America or Merrill, you can boost your points by 10% to 75%. Bank of America replaced Preferred Rewards with BofA Rewards on May 27, 2026. Here's how it works:

How to Qualify

Step 1: Open a Bank of America checking account (that alone gets you the Member tier and a 10% boost, with no balance minimum)

Step 2: Maintain qualifying balances across your accounts to move up:

What counts: Any mix of Bank of America deposits + Merrill accounts (IRAs and 529s included)
How to qualify: Keep the tier's 3-month average, or get early enrollment by hitting the balance within 30 days of opening your checking account

Preferred Plus
$30,000 - $99,999

Preferred Honors
$100,000 - $999,999

Premier
$1,000,000+

What It Does to This Card

BofA Rewards boosts your earned points by:

Member: +10% boost (just a BofA checking account, no balance minimum)
Preferred Plus: +25% boost
Preferred Honors: +50% boost
Premier: +75% boost (maximum for credit cards)

The boost applies to your earned points after purchase, turning 2x travel/dining into up to 3.5x and 1.5x everything else into up to 2.625x.

Your Effective Rates

Category	Base Rate	Preferred Plus (+25%)	Preferred Honors (+50%)	Premier (+75%)
2x travel & dining	2.00x	2.50x	3.00x	3.50x
1.5x everything else	1.50x	1.875x	2.25x	2.625x

Important Notes

Redemption value: Points are worth 1¢ each regardless of BofA Rewards tier
No foreign transaction fees: This benefit remains regardless of BofA Rewards tier