Points · Visa · $550 annual fee
Last verified 2026-09-09. Review issuer source
Bank of America Premium Rewards Elite is a $550-a-year points card from Bank of America. Its best everyday rates are 2x on dining, and 2x on travel; everything else earns 1.5x.
On our reference budget of $24,600 a year its rewards come to $402, $148 short of the annual fee. That is normal at this price; the card only works if the perks replace spending you already do, or your bonus-category spending is far above a typical household's. The welcome bonus, 75,000 points after $5,000 in 90 days, is the strongest reason to open it in a given year.
Premium cards are a bet that you will use the credits. Count only the ones that replace spending you already do, then see whether the lounge access and what is left justifies the fee.
Earn unlimited 2 points for every $1 spent on dining purchases
Earn unlimited 2 points for every $1 spent on travel purchases
75,000 online bonus points — a $750 value — after you make at least $5,000 in purchases in the first 90 days of account opening.
Receive up to $150 annually for lifestyle conveniences including video streaming services, food delivery, fitness subscriptions and rideshare services.
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.
Open the door to unique experiences, find tickets to top sports and entertainment events, book travel, make dinner reservations and more with complimentary 24/7 Premium Rewards® Elite Visa Infinite® Concierge service.
Get up to $120 in Airport Security Statement Credits for TSA PreCheck® or Global Entry application fees, every four years.
If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means you could earn 2.5-3.5 points on travel and dining purchases and 1.87-2.62 points on all other purchases, for every $1 you spend.
Now, when you opt-in you can access your FICO® Score updated monthly for free, within your Mobile Banking app or in Online Banking.
Save 20% on domestic or international airfare for any class when you pay with points.
Enjoy free unlimited access to airport lounges and experiences worldwide with up to 4 complimentary Priority Pass™ Select Memberships.
Travel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delay, lost luggage reimbursement, roadside assistance, and emergency evacuation and transportation.
Get VIP amenities, complimentary status upgrades and discounts with Avis®, Hertz®, National® and Audi on demand.
Enjoy benefits at premium hotels, including late checkouts, free breakfast daily for two, automatic upgrades and more. (some benefits based on availability).
These come from Visa, not from Bank of America. Every card on the Visa Infinite tier carries them, so they should not decide between two cards.
When you use your covered Visa card to rent a vehicle, you’ll get built-in Auto Rental Coverage. You can be covered for physical damage, theft, reasonable and customary towing and loss-of-use charges. Decline the Collision Damage Waiver coverage offered by the rental agency and make sure your name is listed as the primary renter on the auto rental contract.
Get free access to Dovly Uplift. Dovly helps you raise your credit score and get more for your money. While Dovly's platform is designed to remove inaccuracies from your credit report, every case is different, and not everyone will achieve the same results.
When you use your covered Visa card for your eligible purchases Extended Warranty Protection will extend the term of your eligible manufacturer’s U.S. warranty by 1 additional year on eligible warranties of 3 years or less; for a manufacturer’s warranty of 3 months, the term is extended an additional 12 months for a combined total of 15 months of coverage; for warranties of one year or more an additional year of coverage is provided.
Apply for Global Entry, a U.S. Customs and Border Protection program and use your Visa Infinite card to pay the application fee (currently $120) to receive a $120 statement credit.
Your Visa Infinite card entitles you to automatic Platinum Status when you sign up for Troon Rewards®, for 20% saving on golf fees, merchandise and lessons at over 150 golf courses across the United States and world.
When you use your covered card to purchase an airline or common carrier ticket, you can be eligible to receive reimbursement for your checked luggage or carry-on baggage and their contents in the event of theft or misdirection by the airline or common carrier.
Visa Infinite cardholders receive special privileges from Relais & Châteaux, a highly prestigious association of approximately 500 luxury properties worldwide.
When you use your covered Visa card to make an eligible purchase, you can get return protection if you are dissatisfied with your item within 90 days of purchase and the merchant will not accept the return.
This is a pay-per-use roadside assistance program; available 24x7; Roadside Dispatch will ask for your location, find out what the problem is, and will remain on the phone with you while arranging a dispatch to a reliable tow operator or locksmith. You pay a set price per service call.
Eligible Visa cardholders can now use the GigSky app to access complimentary or discounted global mobile data, in 175+ countries and destinations worldwide as well as on over 200 of the world’s top cruise ships.
Add peace of mind to your itinerary. Purchase your airline ticket with your covered Visa card and you can enjoy Travel Accident Insurance.
When you are traveling or working anywhere in the world, your covered Visa card gets you access to a multilingual call center, 24 hours a day, 365 days a year to help get the assistance you need. As a covered cardholder, you, your spouse and dependent children under 22 years of age who are traveling with can call a dedicated toll-free number in the United States, or call collect when traveling abroad. Keep in mind this program provides assistance only. Cardholders are responsible for the cost of any services received.
When you purchase your travel ticket with a covered Visa card and you must cancel or interrupt your trip, this benefit can help reimburse for the non-refundable cost of your passenger fare. This coverage applies to more than air travel. It also can be in place when a covered Visa card is used to purchase a ticket for travel via other forms of eligible transportation, such as a ferry, rail, bus or cruise ship.
Anticipate delays when you purchase air travel with your covered Visa card. With Trip Delay coverage, you can receive up to $500.00 when you’re stuck for more than 6 hours due to a covered hazard such as equipment failure, inclement weather, strike and hijacking/skyjacking.
Enjoy 24/7 personalized assistance for travel planning, dinner reservations, sports, entertainment tickets and more. Available 365 days a year from home or abroad.
Benefit descriptions are the issuer’s and network’s own wording, trimmed for length. Limits and exclusions are in the guide to benefits.
Enjoy free unlimited access to airport lounges worldwide with up to 4 complimentary Priority Pass™ Memberships
| Card | Annual fee | Rewards earned | Net after fee | Rank |
|---|---|---|---|---|
| Bank of America® Premium Rewards® EliteThis card · 2x on dining | $550 | $402 | −$148 | 1261st of 1,291 |
| Bank of America® Unlimited Cash RewardsBank of America's most-held other card · 1.5% on everything | None | $369 | +$369 | 477th of 1,291 |
| Savor RewardsThe strongest no-fee card on this budget · 3% on dining | None | $642 | +$642 | 4th of 1,291 |
| Robinhood Gold CardHighest net return on this budget · 3% on everything | $50 | $798 | +$748 | 1st of 1,291 |
Reference budget: groceries $6,000, dining and restaurants $3,600, gas and ev charging $2,400, travel and transit $3,000, online shopping $2,400, entertainment and streaming $1,200, everything else $6,000. Points are valued at 1¢ unless the program is worth less; statement credits, welcome bonuses, and perks are left out. Run it with your own spending.
