Bank of America® Premium Rewards® Elite Credit Card
Fees
Earning Rates
- Earn an unlimited 2X points on travel and dining purchases.
- Earn an unlimited 1.5X points on all other purchases.
Main Benefits
- Up to $300 in airline incidental statement credits, $150 annually for lifestyle conveniences, a Global Entry or TSA PreCheck application fee credit, up to 75% more points as a Preferred Rewards member, 20% savings on domestic or international airfare for any class when paying with points, and complimentary Priority Pass Select membership.
Rewards Details
- Based on our valuations, Bank of America points earned with the Bank of America Premium Rewards Elite credit card are worth 1.2 cent each on average.
Our Take
Card Details
Premium Rewards Elite Card earning rate
The Bank of America Premium Rewards Elite Credit Card earns Premium Rewards points at the following rates:
- 2 points for every dollar spent on travel and dining purchases.
- 1.5 points per dollar spent on all other purchases.
Premium Rewards Elite Card points value
Premium Rewards Elite Card benefits
Here are the main benefits of the Bank of America Premium Rewards Elite Credit Card:
- $300 Airline Incidental Credit: Receive up to $300 annually in Airline Incidental Statement Credits for qualifying purchases such as seat upgrades, baggage fees, airline lounge fees and in-flight services
- $150 Annual Lifestyle Credit: Receive up to $150 annually for lifestyle conveniences including video streaming services, food delivery, fitness subscriptions and rideshare services
- Point Rebate: Save 20% on domestic or international airfare for any class when you pay with points.
- Airport Lounge Access: Enjoy free unlimited access to airport lounges and experiences worldwide with up to 4 complimentary Priority Pass™ Select Memberships.
- TSA PreCheck® or Global Entry Credit: Get up to $100 in Airport Security Statement Credits for TSA PreCheck® or Global Entry application fees, every four years.
Premium Rewards Elite Card fees
Annual Fee
The Bank of America Premium Rewards Elite Credit Card has an annual fee of $550.
If you travel at least a few times per year, you should easily be able to make use of the $300 airline incidental credit and $150 annual lifestyle credit. You are then left with an overall fee of $100 which is only $1 more than the Bank of America® Premium Rewards® Credit Card.
So if you can make use of the $450 in annual credits, pick up this card over the Premium Rewards credit card.
Authorized User Fee
There is no fee to add additional users to the Bank of America Premium Rewards Elite Credit Card. Adding additional users can help earn you points faster.
Foreign Transaction Fee
The Bank of America Premium Rewards Elite Credit Card has a 0% foreign transaction fee. This means that you will not be penalized for using this card outside of the United States.
Premium Rewards Elite Card points calculator
Find out how many Bank of America Rewards Points you can earn with the Premium Rewards Elite Credit Card Point Calculator as well as the cash value of those points. Results can be compared side-by-side credit cards featured on the site to see which earns you the most rewards.
Card Details All links open in new tab (so you will not lose your calculations).
Edit Card Details
Edit Card Name
Set the name of the card to something of your choosing. Leave it blank to default back to normal card name.
Quick Assign
Use quick assign to quickly toggle this card on for Spend Categories in the calculator. If the card is already assigned, toggling off will set the category to No Selection.
Currency Codes
Any currencies you add to the tool will be selectable when entering spend into the Spend Categories section of the calculator.
Do note that any foreign currencies selected will automatically be converted to the card's default currency when calculating rewards.
Currency Name
Add Status / Loyalty
You can add elite status to one or more columns. This allows you to calculate the extra points you would receive from having status with that program.
If the status is already added, you can update the currency the status is based on by specifying a different currency than what the one in the calculator already has.
NOTE: Elite status is automatically added to the calculator for most credit cards that grant it.
Clear / Remove...
If you're looking to quickly assign cards to multiple categories, click on the card itself under the Credit Cards section.
Card Select
Select the card you will use for this category.
Do note that the order of the categories in the Category Spending section makes a difference. Spend is calculate by month in order of categories listed.
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