Bank of America® Premium Rewards®
Earn 2x points on travel and dining with instant card access for qualified customers. $95 annual fee with up to $200 in travel credits and a generous sign-up bonus.
The Bank of America® Premium Rewards® credit card stands out for travelers and everyday spenders who want rewards on every purchase. The card offers a competitive 2 points per dollar on travel and dining, and 1.5 points per dollar on all other purchases. The $95 annual fee is offset by up to $200 in annual travel statement credits and a sign-up bonus of 60,000 points (worth $600) after spending $4,000 in the first 90 days. Preferred Rewards members at Bank of America® can turbocharge their earnings with bonuses up to 75%.
Applicants may get instant access to their new line of credit via Bank of America®'s app, provided they already hold a Bank of America® account and apply through a targeted promotion. This digital access means you can spend online or in stores immediately, without waiting for your card to arrive by mail, enhancing convenience and flexibility.
How to Apply: Step by Step
- Ensure you have an existing Bank of America® account.
- Look for targeted promotions within the mobile app.
- Apply directly via the targeted promotion (not general application).
- Upon approval, access your card credentials digitally for instant use.
- Add your new card to a digital wallet for immediate spending.
Highlights: Key Advantages
One standout advantage is the instant digital access to the card after approval, perfect for urgent travel or purchases. The robust rewards structure benefits frequent travelers and diners, especially Preferred Rewards members who can unlock even more value. Additionally, the lucrative sign-up bonus and travel credits help offset the card's annual fee for the first year and beyond.
Things to Consider: Drawbacks
Applicants must already have a Bank of America® account and apply through a targeted promotion for instant access. The $95 annual fee may not be ideal if you don't travel often or maximize the credits and rewards. Also, not everyone will qualify for instant card details, depending on Bank of America®'s eligibility criteria and identity verification checks.
Final Verdict: Is It Worth Considering?
The Bank of America® Premium Rewards® card delivers exceptional value for those who qualify for instant access and take advantage of its rewards, credits, and bonuses. Existing Bank of America® customers who travel or dine out frequently should strongly consider this card for its compelling mix of flexibility and earning power.
