Anúncios
Want a premium card with benefits and no international fees?
The Bank of America Premium Rewards card is a straightforward travel rewards card for people who eat out often and travel regularly. Its headline feature is 2 points per dollar on travel and dining purchases, a solid earn rate that sits between everyday cash-back cards and ultra-premium travel cards.
This card appeals to frequent diners, leisure and business travelers, and Bank of America customers — especially Preferred Rewards members who can boost value further. If you want dining rewards and travel perks without a very high annual fee, BoA Premium Rewards positions itself as a mainstream premium option with practical benefits and U.S.-focused protections.
This article covers what the 2 points per dollar means in real purchases, how to maximize dining and travel earnings, redemption choices, typical sign-up bonuses, comparisons to competing cards, fee considerations, and tips for applying and using the card responsibly in the United States.
Premium Rewards
Key Takeaways
- Bank of America Premium Rewards awards 2 points per dollar on travel and dining purchases.
- It fits cardholders who want strong dining rewards without ultra-premium fees.
- Preferred Rewards members can increase overall value with account-linked bonuses.
- The card includes U.S. consumer protections and travel benefits useful for trips at home and abroad.
- This guide will explain earning, redemption, and strategies to maximize points.
Bank of America® Premium Rewards® vs. Customized Cash Rewards vs. Unlimited Cash Rewards
When choosing a credit card, it’s essential to consider your needs and spending habits. Bank of America offers three popular options: Premium Rewards®, Customized Cash Rewards, and Unlimited Cash Rewards. Each has distinct features that cater to different types of consumers.
1. Bank of America® Premium Rewards®
Ideal for those seeking travel rewards and additional benefits.
- Rewards: 2 points per dollar on travel and dining; 1.5 points on other purchases.
- Annual Fee: $95
- Welcome Bonus: 60,000 points after spending $4,000 in the first 90 days.
- Additional Benefits: Credits for TSA PreCheck or Global Entry, access to the Preferred Rewards program, travel and purchase protection.
2. Bank of America® Customized Cash Rewards
Customized Cash Rewards
Perfect for those who want flexibility in reward categories.
- Rewards: 3% in a chosen category (e.g., gas, online shopping, etc.), 2% at grocery stores and wholesale clubs (up to $2,500 per quarter), 1% on other purchases.
- Annual Fee: $0
- Welcome Bonus: $200 after spending $1,000 in the first 90 days.
- Additional Benefits: Visa Signature Concierge, access to the Preferred Rewards program, travel and purchase protection.
3. Bank of America® Unlimited Cash Rewards
Ideal for those who prefer simplicity with consistent rewards.
- Rewards: 1.5% unlimited cash back on all purchases.
- Annual Fee: $0
- Welcome Bonus: $200 after spending $1,000 in the first 90 days.
- Additional Benefits: Access to the Preferred Rewards program, travel and purchase protection.
Quick Comparison
| Feature | Premium Rewards® | Customized Cash Rewards | Unlimited Cash Rewards |
|---|---|---|---|
| Rewards | 2x on travel/dining, 1.5x on other purchases | 3% in chosen category, 2% groceries, 1% other purchases | 1.5% on all purchases |
| Annual Fee | $95 | $0 | $0 |
| Welcome Bonus | 60,000 points after $4,000 in 90 days | $200 after $1,000 in 90 days | $200 after $1,000 in 90 days |
| Additional Benefits | TSA PreCheck/Global Entry credits, Preferred Rewards access, travel & purchase protection | Visa Signature Concierge, Preferred Rewards access, travel & purchase protection | Preferred Rewards access, travel & purchase protection |
Conclusion
- Premium Rewards®: Recommended for frequent travelers who want to maximize travel rewards and enjoy extra benefits.
- Customized Cash Rewards: Ideal for consumers who spend significantly in specific categories and want flexibility in rewards.
- Unlimited Cash Rewards: Perfect for those seeking simplicity and consistent rewards without worrying about categories or limits.
Each card offers distinct advantages, so it’s essential to evaluate your spending habits and personal preferences when choosing the best option.
Overview of Bank of America Premium Rewards
The Bank of America Premium Rewards card is a consumer travel rewards option built for simplicity and solid return on travel and dining. This overview covers card basics and who the card is for, a quick look at core advantages, and the main cost and approval points to consider before applying.
Card basics and who it’s best for
The card basics include straightforward earning: higher rates on travel and dining and a competitive base rate on other purchases. It suits frequent travelers and diners who want flexible rewards without being tied to a single airline or hotel program. Members of Bank of America’s Preferred Rewards can see boosted value through multipliers tied to that program.
The Premium Rewards product bundles travel protections, such as trip cancellation/interruption insurance, baggage delay coverage, and a collision damage waiver for rentals. These safeguards pair well with the card’s point-earning structure for people who travel often for work or leisure.
Key benefits at a glance
Primary BoA Premium Rewards benefits include earning 2 points per dollar on travel and dining and a standard rate on other spending. Preferred Rewards members may earn 25%–75% more on points, depending on their tier.
Additional perks cover travel and emergency assistance, purchase protections, and potential statement credits for certain travel incidents. Cardholders should confirm specific coverages in current terms before relying on them for major trips.
Annual fee, APR, and eligibility highlights
The card carries an annual fee; verify the current amount on Bank of America’s site before applying. Typical APRs for purchases and balance transfers vary with the prime rate and individual creditworthiness, so check the current variable APR when reviewing terms.
Eligibility usually requires U.S. residency, a Social Security number, and a good to excellent credit score. Existing relationships with Bank of America, such as deposit accounts or investment ties with Merrill, can improve approval odds under the issuer’s internal criteria.
Bank of America Premium Rewards: 2 Points on Travel & Dining
The Bank of America Premium Rewards card pays 2 points per dollar on qualifying travel and qualifying dining. That rate makes it simple to track value while you spend on flights, hotels, restaurants, and rides. Below explains what the 2 points per dollar figure means, how points work on everyday purchases, and clear examples of purchases that usually qualify.
What “2 Points” means in practical terms
When you see 2 points per dollar, the card awards two reward points for each dollar charged on eligible purchases. Points have retail travel value and can be redeemed for statement credits, travel bookings, or gift cards. Typical redemption values fall roughly between $0.01 and $0.02 per point, so a $100 dining tab that earns 200 points could be worth about $2.00–$4.00 depending on redemption method and any Preferred Rewards multipliers.
How points are earned on eligible purchases
Bank of America classifies purchases by merchant category codes (MCCs). Qualifying travel normally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, buses, ferries, and travel agencies that route as travel. Qualifying dining covers restaurants, bars, quick-service spots, cafeterias, and many delivery services.
Some transactions route through third-party platforms and may code differently. For example, food ordered through a delivery app may count as qualifying dining if the merchant and processor assign a dining MCC. Recurring bills, gift card buys, and certain marketplace transactions may not qualify or may earn only the base rate. Check merchant coding if you want to be certain a purchase counts toward the bonus rate.
Examples: dining and travel purchases that qualify
Common qualifying dining charges include sit-down restaurants, quick-service restaurants, coffee shops, hotel restaurants, and food delivery from DoorDash or Grubhub when coded as dining. Qualifying travel charges include airline tickets purchased directly or through agencies, hotel stays, rental cars, rideshare rides with Uber or Lyft, Amtrak tickets, and bus or ferry fares.
Edge cases matter. Booking through an online travel agency can still code as travel, but direct bookings with Delta, Marriott, or Hyatt may more reliably count and often preserve travel protections. When in doubt, review your statements to confirm how a charge posted and call Bank of America for clarifications on eligible purchases and merchant coding.
How to Maximize Rewards on Dining
Every meal is an opportunity to earn more with the Bank of America Premium Rewards card. Use simple dining strategies to turn routine spending into extra points and higher value over time.
Strategies for everyday dining spending
Make the Premium Rewards card your go-to for restaurants, coffee shops, and bars so every qualifying charge captures the 2x points. Keep receipts and check merchant category codes if a big charge posts at 1x; contact Bank of America if a restaurant is coded incorrectly. Consolidate group tabs onto one card rather than splitting payments to maximize the base earning rate on a single transaction.
Using partner apps and delivery services
Many orders through DoorDash, Grubhub, Uber Eats, and OpenTable will code as dining, but some route payments through platforms that post differently. When possible, order directly from the restaurant and pay with your card to ensure the purchase registers as dining. Watch for in-app bonuses and time-limited partner offers that raise your effective return.
Combining promotions and bonus categories
Stack merchant or delivery app deals with the card’s 2x base to boost rewards. Redeem targeted Bank of America offers and take advantage of periodic dining promotions to add value. If you qualify for Preferred Rewards, apply that multiplier to dining spend to increase earning rates by 25%–75%, which can significantly improve ROI on every meal.
Use these tactics together: prioritize direct payments, monitor merchant coding, leverage delivery apps carefully, and stack dining promotions to maximize dining rewards on everyday purchases.
How to Maximize Rewards on Travel
Using the Bank of America Premium Rewards card for travel gives you more than points. Small booking choices and a few habits can raise your return on every trip. Follow practical steps to maximize travel rewards, get the protections you need, and keep travel smooth for work or leisure.
Booking travel directly vs. through portals
Booking directly with airlines and hotels often preserves elite status perks and posts clear merchant codes that qualify for 2x points. Loyalty benefits such as upgrades, free breakfast, and late checkout usually apply when you book direct with Delta, American Airlines, Marriott, or Hilton.
Using the Bank of America travel portal can yield discounted fares or special redemptions. Check whether portal bookings count as travel for 2x earnings before you book travel, and weigh the dollar savings against lost elite benefits.
When prices are close, lean toward the option that gives more long-term value. Earning 2x points on a slightly pricier direct booking can be worth more than a small OTA discount.
Using card travel protections and benefits
Paying with your Premium Rewards card often activates built-in travel protections. These may include trip cancellation or interruption coverage, baggage delay and lost luggage reimbursement, and rental car collision damage coverage. Keep receipts and itineraries to support any claim.
Register travel details where required and read the policy terms before departure. Knowing how to file a claim and what documentation is needed helps speed reimbursement when a problem occurs.
Best practices for business and leisure travel
Charge all travel-related incidental expenses to the card—taxis, tolls, baggage fees, and seat upgrades—to capture extra 2x points. Link airline and hotel loyalty accounts to every reservation so you earn points from both the card and the loyalty program.
Monitor foreign transaction policies and use cards that waive fees when traveling internationally. Notify Bank of America of international travel to reduce the chance of fraud holds on your account. These travel best practices help protect your trip and boost rewards on the road.
| Decision | When to Choose | Pros | Cons |
|---|---|---|---|
| Book direct with airline or hotel | Prices comparable; you value elite perks | Maintains elite benefits, clearer merchant codes, better chance to earn 2x points | May be slightly more expensive than some portals |
| Book via Bank of America travel portal | Portal offers significant discount or improved redemption | Possible lower price, special point redemptions | May forfeit hotel/airline elite benefits; confirm 2x eligibility |
| Pay with Premium Rewards for incidentals | Taxis, tolls, baggage fees, upgrades | Earn additional 2x points; activates travel protections | Must maintain good payment habits to avoid interest |
| Combine card and loyalty programs | Any flight or hotel stay | Double earnings: card points plus loyalty credit | Requires adding loyalty info at booking or check-in |
Point Redemption Options and Value
Understanding how to use rewards makes points worth more. Bank of America lets cardholders choose from travel bookings, statement credits, gift cards, merchandise, and limited transfer partners. Each path gives a different point value. Pick the option that matches your travel goals and budget.
Travel bookings and statement credits
Use the Bank of America rewards portal to redeem travel for flights, hotels, and car rentals. The portal usually shows a fixed cents-per-point rate for each booking. Booking travel tends to deliver higher cents-per-point than non-travel redemptions.
Statement credits are available for travel-related charges or general purchases. Statement credits offer flexibility when you need cash back on your account, but they often reduce the point value compared with redeem travel options.
Gift cards, merchandise, and transfer partners
Gift cards and merchandise are easy redemptions through the rewards center. These options generally yield lower point value than travel bookings. If you value convenience over maximum value, they remain valid choices.
Transfer partners are limited for Bank of America compared with other issuers. Check current partners and transfer ratios before assuming availability. When transfers exist, they can unlock outsized value for premium award seats or hotel nights with select airlines and hotel chains.
How to calculate the true value per point
Use a simple formula to compare options: redemption value = dollars received ÷ points redeemed. For example, a $200 flight paid with 20,000 points equals $0.01 per point. Track this metric across redemptions to see which method gives the best value for your needs.
Preferred Rewards multipliers increase effective point value for eligible clients. Factor those multipliers into the dollars received when computing point value to see your true return.
| Redemption Type | Typical Cents‑Per‑Point | Pros | Cons |
|---|---|---|---|
| Travel bookings (portal) | $0.009–$0.015 | Higher value, easy booking for flights, hotels, cars | Rate varies by itinerary; limited to portal inventory |
| Statement credits | $0.007–$0.011 | Flexible use, reduces card balance | Often lower point value than travel redemptions |
| Gift cards & merchandise | $0.005–$0.009 | Instant options, broad choices | Lowest point value; not ideal for big trips |
| Transfer partners | $0.01–$0.03+ | Potential for high value on premium awards | Availability limited; requires research and flexibility |
Track your redemptions and compute the point value each time you redeem. That habit reveals which options best match your priorities and helps you maximize long‑term rewards. When you compare travel bookings and statement credits side by side, you can make more informed choices about how to redeem travel and other rewards.
Sign-up Bonus and Intro Offers
The Bank of America Premium Rewards card often pairs a strong sign-up bonus with flexible intro offers. These promotions usually award a lump-sum points bonus after you meet a specified minimum spend within a set timeframe. Check Bank of America’s current welcome offer for exact amounts before applying.
Typical welcome bonus structure
Most welcome offers follow a simple formula: earn X points after spending $Y in the first 90 days. That boost can multiply first-year value and speed up travel redemptions when you book flights or hotels. Read the fine print on eligibility and the qualifying purchase categories.
Meeting minimum spend without overspending
Hit the minimum spend using planned purchases you would make anyway. Put groceries, recurring subscriptions, utilities, and insurance payments on the card. Consider prepaying certain bills when it makes sense and buying gift cards for stores you frequent, but use caution to avoid fees or returns headaches.
Track progress toward the minimum spend weekly. Avoid impulse buys purely to chase the bonus. Late payments can affect approval, APR, and eligibility for the bonus, so keep statements current.
Timing offers for maximum value
Apply when Bank of America runs targeted boosts or during peak travel windows to extract more value from the points. If you have upcoming travel, timing offers so you can redeem the welcome bonus quickly makes the most sense. Compare the current offer to previous ones to tell if it’s competitive.
| Aspect | What to Check | Practical Tip |
|---|---|---|
| Sign-up bonus | Points awarded and qualifying period | Confirm exact numbers on the application page before you apply |
| Minimum spend | Required $ amount and time window | Use planned recurring bills and groceries to meet the target organically |
| Welcome offer value | Estimated dollar value of points | Multiply typical point value by bonus points to assess first-year uplift |
| Intro offers | Any temporary APR or perks that accompany the bonus | Weigh short-term perks against long-term fees and benefits |
| Timing offers | Seasonal or targeted promotional windows | Apply just before travel plans or during holiday promotions for fast use |
Comparisons with Competing Travel Rewards Cards
Bank of America Premium Rewards sits in the middle of the rewards spectrum. It delivers solid, simple rewards without the steep annual fees or complex perks of ultra-premium cards. Use this section to compare travel cards and see where Premium Rewards fits in your wallet.
How it stacks up versus travel-focused cards
The Premium Rewards card pays 2x on travel and dining. That beats most no-fee cards on general travel spend. Premium airline and hotel cards can offer 3x–5x in narrow categories plus elite perks like free checked bags and priority boarding. Premium competitors such as Chase Sapphire Reserve and The Platinum Card from American Express often include airport lounge access and larger transfer networks. Citi Premier and Chase Sapphire Preferred provide broader transfer partners and sometimes higher category multipliers.
When a different card might be a better fit
Frequent flyers who value elite status and waived baggage fees should choose airline-branded cards from Delta, United, or American Airlines. Hotel loyalists will find value in Marriott Bonvoy or Hilton Honors cards for elite nights and room upgrades. Travelers who want lounge access, travel credits, and concierge services might prefer premium cards despite higher fees. If straightforward cash is your priority, a cash-back card can be simpler and provide better returns for non-travel spend.
Combining cards for optimized rewards
Pairing cards can close category gaps. One common strategy is to use Premium Rewards for dining and general travel, while holding a transferable-points card such as Chase Sapphire Preferred or a hotel co-branded card for stay benefits. This lets you combine credit cards to capture elite perks, higher earning rates, and flexible transfer options.
| Card Type | Earning Focus | Typical Annual Fee | Key Perks | Best For |
|---|---|---|---|---|
| Bank of America Premium Rewards | 2x travel & dining | Moderate | Simple earnings, travel protections, statement credits | Everyday travelers wanting broad value |
| Chase Sapphire Reserve | 3x travel via portal, 3x dining | High | Lounge access, large transfer network, travel credit | Frequent premium travelers |
| Chase Sapphire Preferred | 2x travel, 2x dining (sometimes bonus categories) | Low to moderate | Strong transfer partners, flexible redemptions | Value-conscious rewards collectors |
| American Express Platinum | High rates on select travel & perks | Very high | Extensive lounge access, concierge, elite benefits | Luxury travelers who use credits and lounges |
| Citi Premier | 3x travel categories | Moderate | Strong airline transfer options, flexible rewards | Point maximizers with varied travel partners |
When weighing options, track expected annual returns and benefits across your top spending categories. Use card comparisons to decide if the Premium Rewards card meets your needs alone or if you should combine credit cards to reach the best travel rewards outcome for your trips and loyalty preferences.
Fees, Foreign Transaction Charges, and Protections
The Bank of America Premium Rewards card carries an annual fee. Use a current Bank of America source to confirm the exact dollar amount before applying. Many cardholders justify that cost by counting points earned on dining and travel, taking the welcome bonus into account, and factoring in practical benefits that offset out-of-pocket expenses.
Annual fee and how to justify it
Start by calculating how many points you earn on typical monthly travel and dining. If you value points at about 1 cent each, you can estimate the annual spend needed to break even. For example, earning 2 points per dollar on travel and dining means $500 in qualifying monthly spend yields roughly $120 in value per year after point redemption. Add the welcome bonus and recurring benefits to shorten the break-even timeline.
Preferred Rewards members boost point earnings through multipliers. That reduces the effective cost of the annual fee for active Bank of America customers with large balances or frequent travel habits. Track statement credits, airline reimbursements, and partner perks to capture the full offset value.
Foreign transaction policy for international travel
Confirm current details on foreign transaction fees with Bank of America prior to travel. If this card waives foreign transaction fees, your overseas purchases keep full rewards without extra costs. If foreign transaction fees apply, those fees cut into the effective return on travel spend and can make international use costly.
If fees apply, use a no-FTF travel card for purchases abroad and reserve the Premium Rewards card for U.S.-based travel and dining that maximize points. Notify Bank of America of travel plans to help prevent fraud-related declines while you are overseas.
Purchase, travel, and rental car protections included
Paying for travel with the card typically activates benefits such as trip cancellation and interruption coverage, lost baggage reimbursement, trip delay protection, travel accident insurance, purchase protection, extended warranty coverage, and rental car collision damage waiver.
Review whether rental car coverage is primary or secondary for your card before relying on it. Claim requirements usually include receipts, itineraries, proof of payment, and official reports for theft or accidents. Keep digital and paper copies to speed claims.
Always consult the Guide to Benefits and the card’s terms and conditions for precise coverage limits, exclusions, and step-by-step claim procedures. That review ensures you use travel insurance and card protections effectively when incidents arise.
| Feature | Typical Benefit | What to Provide for Claims |
|---|---|---|
| Trip cancellation/interruption | Reimbursement for prepaid, nonrefundable travel costs | Receipts, booking confirmations, reason documentation |
| Trip delay insurance | Meals and lodging reimbursement after covered delay | Delay notifications, receipts, itineraries |
| Lost baggage reimbursement | Coverage for lost or delayed luggage | Airline reports, itemized list, receipts |
| Travel accident insurance | Benefit for accidental injury or death while traveling | Medical reports, death certificate, incident report |
| Purchase protection | Coverage for theft or damage shortly after purchase | Receipt, claim form, police report if stolen |
| Extended warranty | Extension of manufacturer warranty period | Original receipt, manufacturer warranty info |
| Rental car coverage | Collision damage waiver for covered rentals | Rental agreement, police report, repair estimate |
How to Apply and Use Your Card Responsibly
Ready to get the Bank of America Premium Rewards card? Start with a quick plan so the application goes smoothly and your new credit card becomes a smart tool for rewards. Below are practical steps to follow before you apply and tips to keep your account in good standing after approval.
Application checklist and required documentation
Gather these items before you begin how to apply: full legal name, Social Security number, date of birth, current residential address, annual income, monthly housing payment, and employment details.
Have recent bank statements and proof of income ready if Bank of America requests verification. Consider applying online through Bank of America’s official site or visit a local branch for personal assistance and to link the card to existing accounts.
Credit score expectations and approval tips
Know the credit score needed for strong approval odds. Applicants typically need good to excellent credit, often a FICO score in the mid-600s to 760+ depending on underwriting. Review your credit reports for errors and fix any mistakes before you apply.
Lower your overall credit utilization and resolve recent delinquencies to improve chances. Timing an application when your income and credit profile are stronger helps. Existing Bank of America customers with deposit or investment relationships may receive targeted offers or slightly better odds.
Responsible use: pays habits and avoiding interest
Adopt responsible credit card use by paying the statement balance in full each month. That habit preserves the real value of rewards and helps avoid interest charges that can erase earnings.
Set up autopay for at least the minimum payment and budget for full payments whenever possible. Monitor credit utilization across all cards and review statements regularly for unauthorized activity.
| Step | What to Prepare | Why It Matters |
|---|---|---|
| 1. Gather ID | Full name, SSN, date of birth, current address | Speeds up how to apply process and verifies identity |
| 2. Income verification | Recent pay stubs or tax returns, bank statements | Shows ability to repay, improves approval odds |
| 3. Check credit | Free credit report, dispute any errors first | Understand the credit score needed and fix issues |
| 4. Reduce balances | Pay down credit card balances before applying | Lower utilization boosts approval chances |
| 5. Choose application method | Online at Bank of America or in-branch appointment | Online is fast; branch help links card to existing accounts |
| 6. Set payment habits | Autopay setup, monthly budget for statement balance | Ensures responsible credit card use and helps avoid interest |
Conclusion
The final verdict: the Bank of America Premium Rewards card delivers a clear, easy-to-understand value proposition. You earn 2 points per dollar on travel and dining, get solid travel and purchase protections, and can boost returns through Bank of America’s Preferred Rewards tiers. This Bank of America Premium Rewards summary highlights simplicity over juggling multiple co-branded programs.
Who benefits most is straightforward. Primary winners are Bank of America customers and Preferred Rewards members, plus frequent travelers and diners who want steady rewards without extra complexity. For cardholders who need airport lounge access or transferable points, pairing this card with a niche travel card can fill gaps.
Before applying, verify current fees, APRs, and welcome offers on Bank of America’s official site. Run a quick break-even using your expected dining and travel spend to judge is it worth it for your wallet. Check targeted offers and terms to make sure the card fits your travel habits and financial goals.
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
spent on qualifying travel and dining. For example, a 0 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
spent on qualifying travel and dining. For example, a 0 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
spent on qualifying travel and dining. For example, a 0 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
Who should consider applying for this card?
How do the 2 points per dollar work in real terms?
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
spent on qualifying travel and dining. For example, a 0 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
spent on qualifying travel and dining. For example, a 0 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
spent on qualifying travel and dining. For example, a 0 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
spent on qualifying travel and dining. For example, a 0 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
spent on qualifying travel and dining. For example, a 0 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
spent on qualifying travel and dining. For example, a 0 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around
FAQ
What is the main benefit of the Bank of America Premium Rewards card?
The card earns 2 points per $1 on travel and dining purchases, making it a strong mainstream travel rewards option for frequent diners and travelers. It’s designed for U.S. consumers who want a straightforward travel-and-dining earning rate without ultra-premium fees and who may benefit from Bank of America’s Preferred Rewards multipliers.
Who should consider applying for this card?
Ideal candidates are regular travelers and diners, Bank of America customers (especially Preferred Rewards members), and credit-card users seeking a simple rewards structure. People who want flexible travel redemptions without airline or hotel lock-in will find this card useful.
How do the 2 points per dollar work in real terms?
You earn two points for every $1 spent on qualifying travel and dining. For example, a $100 dinner posts as 200 points. Redemption value varies, but typical travel redemptions often value points around $0.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend $10,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
.01 or more per point—check current rates and Preferred Rewards boosts for exact value.
What counts as travel or dining for earning 2x points?
Travel generally includes airlines, hotels, car rentals, taxis and rideshares, tolls, trains, and many travel agency bookings. Dining covers restaurants, bars, quick-service spots, coffee shops, and often food delivery when merchant codes register as dining. Merchant category codes (MCCs) determine eligibility, so some third-party payments may code differently.
Will third-party booking sites and delivery apps always earn 2x points?
Not always. Online travel agencies and delivery platforms sometimes route payments that code outside travel or dining MCCs. Booking directly with airlines or hotels and paying restaurants directly reduces coding risk. If a large purchase posts at 1x, contact Bank of America to review the merchant coding.
What annual fee and APR should I expect?
The Premium Rewards card carries an annual fee; confirm the current dollar amount on Bank of America’s site. APRs are variable and tied to the prime rate and your creditworthiness. Always verify up-to-date rates before applying.
How does Bank of America Preferred Rewards affect earnings?
Preferred Rewards members receive a tiered bonus that can boost point earnings by 25%–75% depending on their tier. That multiplier increases the effective value of every point and can significantly improve the card’s return for eligible customers.
What travel protections and purchase coverages are included?
The card typically offers travel protections such as trip cancellation/interruption insurance, baggage delay reimbursement, and rental car collision damage waiver, plus purchase protection and extended warranty benefits. Coverage details and limits can change, so review the Guide to Benefits for the most current terms.
Are there foreign transaction fees when using the card abroad?
Foreign transaction fee policies can vary by product and over time. Many travel-oriented cards waive these fees, but confirm the current policy for this card on Bank of America’s site before international travel. Also consider notifying the bank of travel plans to avoid fraud holds.
What redemption options are available and which give the best value?
Points can be redeemed through Bank of America’s travel portal for flights, hotels, and car rentals, used as statement credits, or exchanged for gift cards and merchandise. Travel redemptions generally offer the highest cents-per-point. Use the formula (dollars received ÷ points redeemed) to compare real value across options.
How do welcome bonuses typically work and how can I meet the minimum spend?
Common offers award a lump-sum points bonus after you spend a specified amount within a set period (e.g., earn X points after $Y in 3 months). To hit the spend organically, use the card for planned expenses, recurring bills, and travel. Avoid overspending just to meet a bonus.
When might another card be a better fit than Premium Rewards?
Airline- or hotel-branded cards can offer larger category multipliers and elite perks for loyal flyers or guests. Ultra-premium cards deliver lounge access and concierge services that the Premium Rewards card doesn’t. Cash-back cards may suit users who prefer simple cash value over travel points.
Can I combine this card with other cards to optimize rewards?
Yes. Pairing the Premium Rewards card with a transferable-points card or a co-branded airline/hotel card can cover gaps—use Premium Rewards for dining and general travel, and the co-branded card for loyalty perks. Evaluate fees and overlapping benefits to ensure the combo improves your net return.
What should I prepare before applying?
Have your full legal name, Social Security number, date of birth, current address, employment and income details, and monthly housing payment available. Consider applying online through Bank of America’s official site or in-branch to link the card to existing accounts.
What credit score and factors influence approval?
Applicants generally need good to excellent credit—typically mid-600s and above. Approval also depends on income, debt levels, and Bank of America’s internal criteria. Existing Bank of America relationships may improve approval odds or yield targeted offers.
How can I use the card responsibly to avoid interest and debt?
Pay the full statement balance each month to avoid interest, set up autopay for at least the minimum, and budget card spend. Monitor statements regularly for unauthorized transactions and keep overall credit utilization low to protect credit health.
How do I justify the annual fee with real spending examples?
Calculate how many points you earn from expected dining and travel. For example, if you spend ,000 yearly on travel and dining at 2x, you’d earn 20,000 points. Multiply your cents-per-point rate to estimate dollar value and compare that to the fee plus benefits. Preferred Rewards boosts reduce the break-even threshold.
Are points transferable to airline or hotel partners?
Bank of America’s transfer partner options are more limited than some issuers. Availability and transfer ratios change, so check current partner lists before assuming transferability. Transfers can amplify value when partners and ratios align with your travel goals.
Conteúdo criado com auxílio de Inteligência Artificial
You May Also Like
TD CashBack Credit Card in Canada: The Definitive Guide to Application and Rewards
Anúncios For anyone living in Canada looking to optimize daily expenditures by turning them into tangible rewards, the TD CashBack Credit Card...
Keep Reading
Platinum Advantage: The Complete Guide to the Bank of Ireland’s Premium Credit Card
Anúncios The Bank of Ireland Platinum Advantage Card is the bank’s premium credit product, designed for customers seeking a low interest rate...
Keep Reading
The Bank of Ireland Classic Credit Card: Your Complete Guide to Application and Benefits in Ireland
Anúncios The Bank of Ireland Classic Credit Card stands out as a foundational financial tool for individuals seeking a dependable, no-annual-fee credit...
Keep Reading