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

Bank of America® Premium Rewards® Elite Credit Card

Annual Fee
$550
Points Currency
Bank of America Points
Base Value
1.00¢/pt
Best For
Travel

Best Categories for This Card

2.00%
effective

Travel

2x Bank of America Points
2.00%
effective

Dining & Restaurants

2x Bank of America Points
1.50%
effective

All Other Purchases

1.5x Bank of America Points

Complete Rewards Breakdown

CategoryMultiplierTypeCapEffective Return
Travel2xOngoing—2.00%
Dining & Restaurants2xOngoing—2.00%
Everywhere else
1.5xOngoing—1.50%

Card details

Network
Visa
Foreign transaction fee
None
Credit usually needed
Excellent (about 740+)
Last verified
Oct 11, 2026
What's a point worth?

Points aren't dollars. A Chase, Amex, Citi or Capital One point is worth about 1¢ as cash back, and often 1.5–2¢ or more when you move it to an airline or hotel partner. Our rates use your setting — Smart (travel value only when you hold a card that unlocks transfers), Cash value or Travel value. See how we rank.

Downgrade options: Bank of America® Premium Rewards® Credit Card, Bank of America® Travel Rewards Credit Card — a product change keeps your account history if this card stops earning its fee.

Pairs well with

Cards that add the most on top of this one for typical U.S. spending, after their annual fees. Use your own spending →

Citi Strata Premier℠ Card
+$522/yr
Capital One Venture Rewards Credit Card
+$514/yr
American Express® Gold Card
+$368/yr

How it stacks up

vs Bank of America® Customized Cash Rewards Credit Cardvs Chase Sapphire Reserve®vs United Club℠ Cardvs Bank of America® Premium Rewards® Credit Card

Want more details?

Fees, benefits, and current offers change frequently. Visit Bank of America’s official page for the most up-to-date terms straight from the issuer.

View on Bank of America’s site

This link opens Bank of America’s website in a new tab. PayWithThis is not affiliated with Bank of America and receives no compensation for this link.