Bank of America Premium Rewards Elite
75,000 points welcome · 2x on travel · $550/yr
The Premium Rewards Elite earns a solid 1.5 points per dollar on everything, with 2 points on travel and dining, and its credits do a lot of the work toward offsetting the $550 annual fee: a $300 airline incidental credit, a $150 lifestyle credit for airlines, rideshare, or streaming, and up to $120 for Global Entry or TSA PreCheck every four years. Priority Pass Select memberships for you and up to three authorized users add real lounge value for families or small teams who travel together. Paying for airfare with points through BofA Travel or the Concierge also saves 20%. The welcome offer of 75,000 points after $5,000 in purchases within three months is a reasonable start. The catch is that the credits require enrollment and active use, and if you won't spend the $450 in airline and lifestyle credits every year, the fee becomes hard to justify against the cheaper Premium Rewards.
Earn rates & credits
| Category | Rate |
|---|---|
Travel | 2x |
Dining | 2x |
Everything Else | 1.5x |
| Benefit | Value |
|---|---|
Lifestyle Credit Annual credit for airlines, rideshare, or streaming services | $150 /yr |
Airline Incidental Credit Annual credit for airline incidental fees like baggage and seat upgrades | $300 /yr |
Global Entry / TSA PreCheck Credit Up to $120 statement credit for Global Entry or TSA PreCheck application fee | $120 every 4 yr |
Airfare Points Savings Save 20% on domestic or international airfare in any class when you pay with points through BofA Travel or the Concierge. | 20% |
| Total annual credits | $480 |
Card details
Regular APR | 19.49%–27.49% variable |
Foreign transaction fee | None |