Want a premium card with benefits and no international fees?

The Bank of America Premium Rewards is a travel credit card designed for U.S. travelers who want a straightforward rewards experience. It combines generous points earning on travel and dining with useful travel perks and built-in protections. Compared with high-end luxury cards, it carries a moderate annual fee while still delivering many premium travel card benefits.

This rewards credit card stands out for competitive points rates on flights, hotels, and restaurants, plus potential statement credits and travel credits that help offset costs. Cardholders who enroll in Bank of America Preferred Rewards can earn even more value through tiered multipliers and extra point bonuses.

This article explains how the points system works, outlines the travel perks and protections, reviews redemption options, and compares the card to peers. It also offers practical tips for domestic and international travelers in the United States who want a reliable travel card that pairs well with Bank of America banking products.

Credit Card

Bank of America Premium Rewards

2 points per dollar on travel and dining. 1.5 points per dollar on all other purchases. Welcome bonus for new cardholders.

No foreign transaction fees.

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Key Takeaways

• Bank of America Premium Rewards blends generous points with practical travel perks.
• Competitive earning on travel and dining, plus potential statement credits.
• Moderate annual fee relative to premium travel cards.
• Preferred Rewards members can boost rewards with tiered multipliers.
• Suited to U.S.-based travelers seeking a simple, high-value travel credit card.

Comparison: Bank of America® Premium Rewards®, Customized Cash Rewards, and Unlimited Cash Rewards

When selecting a Bank of America® credit card, it’s important to match the card’s benefits to your spending habits and lifestyle. The bank’s three leading options — Premium Rewards®, Customized Cash Rewards, and Unlimited Cash Rewards — each offer unique perks designed for different types of consumers.

1. Bank of America® Premium Rewards®

Best for travelers seeking flexibility and premium benefits.

• Rewards: Earn 2 points per dollar on travel and dining, and 1.5 points per dollar on all other purchases.
• Annual Fee: $95
• Welcome Bonus: 60,000 points after spending $4,000 within the first 90 days (worth about $600).
• Additional Benefits: Includes statement credits for TSA PreCheck® or Global Entry, access to the Preferred Rewards program, plus travel and purchase protections.

2. Bank of America® Customized Cash Rewards

Ideal for users who value control and flexibility in choosing reward categories.

• Rewards: Earn 3% cash back in one category of your choice (gas, online shopping, dining, travel, drugstores, or home improvement), 2% at grocery stores and wholesale clubs, and 1% on all other purchases.
  • The 3% and 2% tiers apply to the first $2,500 in combined purchases per quarter.
• Annual Fee: $0
• Welcome Bonus: $200 after spending $1,000 in the first 90 days.
• Additional Benefits: Includes Visa Signature Concierge service, Preferred Rewards access, and travel/purchase protection.

3. Bank of America® Unlimited Cash Rewards

Perfect for those who want a straightforward, consistent cashback structure.

• Rewards: Earn 1.5% unlimited cash back on every purchase, without categories or spending caps.
• Annual Fee: $0
• Welcome Bonus: $200 after spending $1,000 in the first 90 days.
• Additional Benefits: Access to Preferred Rewards, plus standard travel and purchase protections.

Quick Comparison Overview

Credit Card

Customized Cash Rewards

3% cash back in a category of your choice No annual fee. 1% cash back on all other purchases.

2% cash back at grocery stores and wholesale clubs

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Conclusion

• Premium Rewards®: Best for frequent travelers who want to earn more on travel and dining while enjoying premium perks.
• Customized Cash Rewards: Ideal for strategic spenders who prefer flexibility and control over their bonus categories.
• Unlimited Cash Rewards: Great for everyday users who value simplicity, unlimited cashback, and no annual fee.

Each card offers solid value — your ideal choice depends on whether you prioritize travel perks, category flexibility, or straightforward cashback rewards.

Overview of Bank of America Premium Rewards card and who it’s for

The Bank of America Premium Rewards card overview helps readers understand what this travel card aims to deliver. It targets travelers who want strong benefits without the very high annual fee of ultra-premium cards. Card purpose centers on flexible point redemptions, solid travel protections, and easy-to-redeem statement credits.

Card purpose and ideal cardholder profile

The ideal cardholder is a frequent leisure traveler or a business traveler with moderate trip volume. Loyal Bank of America customers who qualify for Preferred Rewards can amplify value through tiered multipliers. People who prefer cash-back-style redemptions, clear travel perks, and simple earning rules will feel at home with this product.

Key highlights at a glance: rewards, annual fee, welcome offer

Top features often include elevated points on travel and dining, a competitive base rate on other purchases, and travel protections such as trip delay coverage. Typical annual fee falls in a mid-range bracket that balances perks and cost. A welcome bonus usually requires a spending threshold within the first months to earn a large cache of bonus points. Exact figures and the welcome bonus may change, so check current Bank of America disclosures before applying.

How it compares to other mid-to-premium travel cards

In travel card comparison, this card stacks well against Chase Sapphire Preferred, Citi Premier, and Capital One Venture. Earning rates are competitive, though transfer partner access may differ from Chase and Citi. The Premium Rewards card stands out for Preferred Rewards multipliers that boost point earnings for Bank of America customers. Users who value statement credits and straightforward redemptions may find better net value here than with some rivals.

How the generous points system works

The Bank of America Premium Rewards card centers on clear, high-value earning. You get elevated points on travel and dining, plus a steady base rate on everyday purchases. Understanding points earning rates helps shape a smart rewards strategy that fits travel habits and household budgets.

Earning rates on travel, dining, and everyday purchases

The card typically pays a higher multiplier for travel and dining and a lower base rate for other spending. Travel includes airfare, hotels, car rentals, taxis, and ride-share services. Dining covers restaurants, bars, and many delivery platforms. Purchases made through some travel portals or third-party booking sites may or may not qualify as travel for category bonuses; check merchant coding on statements to confirm how they post.

Bonus categories and promotional offers

Beyond core travel and dining, occasional bonus categories appear. Merchants such as grocery stores or gas stations may carry temporary offers, and Bank of America sometimes runs limited-time promotions for new customers or targeted existing cardholders. Activation may be required for some promotions, so monitor offers in your online account and the mobile app.

Points value and how to maximize returns

Point value varies by redemption method. Statement credits and gift cards often yield lower cents-per-point than booking travel through Bank of America Travel Center or transferring to airline and hotel partners. To maximize points value, concentrate travel and dining spend on this card and pair it with Preferred Rewards multipliers when eligible. Use the bank’s travel channel during bonus-value windows and time transfers to partners when award space or rates create a sweet spot.

As part of a practical rewards strategy, compare redemption paths before you book. Sometimes paying cash and using points for a transfer partner award gives bigger savings than merchandise or statement-credit redemptions. Track promotions, align big purchases with bonus categories, and prioritize uses that deliver the highest cents-per-point return.

Travel perks that enhance every trip

Bank of America Premium Rewards packs a range of travel perks that reduce stress and add value on the road. Card benefits include practical travel credits, lounge and partner offers, and a suite of travel protections. Read the benefits guide before relying on coverage and verify active partnerships for the most current details.

Travel credits, statement credits, and reimbursements

Many premium cards offer travel credits that post automatically or require simple enrollment. These credits can appear as annual travel credits or as statement credits for specific purchases such as airline fees, rideshares, or hotel incidentals.

Some issuers reimburse incidental fees like checked bag charges and seat selection. To claim a reimbursement you typically submit receipts, itineraries, and a completed claim form to the card benefits administrator. Keep copies of receipts and file within the stated timeframes to avoid denial.

Airport lounge access and partner benefits

Airport lounge access varies by card. Certain cards include direct membership in a lounge network. Others offer access through partners like Priority Pass with enrollment or discounted day passes from networks such as Plaza Premium or Delta Sky Club when flying Delta.

Partner perks may include discounted lounge passes, preferred rates with hotel brands, or credits for in-lounge purchases. Verify active partner relationships before you travel so you can plan airport downtime and maximize lounge access.

Travel protections: trip delay, interruption, baggage, and more

Travel protections often cover trip delay reimbursement, trip cancellation and interruption benefits, baggage delay or loss coverage, and travel accident insurance. Trip delay insurance reimburses approved expenses when covered flights or connections are delayed past the plan’s threshold.

Baggage insurance or baggage delay reimbursement helps with essentials when luggage is delayed or lost. Typical claim requirements include proof of delay, receipts for emergency purchases, and the airline’s property irregularity report when applicable.

Other services may include emergency assistance and concierge help for medical or legal referrals abroad. Coverage limits, exclusions, and claim windows differ by cardmember agreement. Review the benefits guide and file claims promptly with full documentation to improve the chance of approval.

Redemption options and flexibility

Bank of America points can be used in several ways, giving cardholders choices based on travel plans and cash needs. Below is a clear look at each path so you can decide how to redeem points for the best fit.

Booking travel through Bank of America or transfer partners

The Bank of America travel portal lets you book flights, hotels, and car rentals directly using points. You can pay for all or part of a booking with points; the portal value is typically fixed, so confirm the cents-per-point before you commit.

For higher value, transferring to airline and hotel transfer partners often pays off. Bank of America supports partners such as Alaska Airlines, Emirates, and Marriott Bonvoy through predictable transfer ratios and generally quick transfer times. Use transfer partners when a premium cabin or peak-date award is available to increase your return.

Gift cards, statement credits, and merchandise redemptions

Alternative redemptions include gift cards, a direct statement credit, and merchandise. Gift cards and merch are simple but usually deliver lower cents-per-point than travel redemptions.

A statement credit works well when you want to offset recent charges or simplify rewards use. It can cover travel purchases or one-off expenses, making it a practical choice for occasional travelers who prefer cash-like flexibility over hunting award seats.

How to get the best value per point

To secure the best point value, prioritize transferring points to airline or hotel partners and booking premium cabins or high-demand routes. Compare cash prices against point redemptions and factor in taxes and fees before you book travel.

Use flexible travel dates and watch for award availability to stretch points further. Pairing Preferred Rewards multipliers with smart redemptions often yields the best point value across flights, hotels, and car rentals.

Welcome bonus, ongoing promotions, and seasonal offers

Bank of America often pairs the Premium Rewards card with a clear sign-up bonus that rewards new cardholders after they meet a set spending requirement. These welcome bonus structures typically read like: earn X points after $Y in purchases within Z months. Terms shift regularly, so confirm current details on Bank of America’s website before applying.

Typical welcome offer structure and spending requirements

The usual format gives bonus points once you hit the spending threshold in the first 90 days. That spending requirement can include everyday bills such as utilities, groceries, and streaming services when charged to the card. Meeting the sign-up bonus without overspending means timing planned purchases and prepaying predictable costs.

Limited-time promotions and targeted bonuses

Bank of America runs periodic promotions for both new and existing customers. Offers can include elevated earning rates on dining or travel for a few months or promotional bonus points tied to account balances through Preferred Rewards. A targeted bonus may arrive by secure message, email, or mailed offer and will vary by customer profile.

Strategies to qualify for offers without overspending

To hit a spending requirement responsibly, schedule large planned expenses like travel or appliance purchases during the promotional window. Use the card for routine monthly payments to accumulate qualifying spend. Where allowed, add authorized users for household expenses to pool purchases toward the threshold.

Avoid churning by applying for multiple cards just for promotions; that behavior can lower your credit score if mismanaged. Track deadlines closely and pay balances in full to prevent interest charges that would erode the value of any welcome bonus or targeted bonus.

Fees, rates, and fine print to be aware of

Before applying, scan the card terms closely to know what you will pay and when. The Bank of America Premium Rewards card carries a moderate annual fee compared with ultra-premium travel cards, which can make sense if you use the travel credits and elevated earning rates often. Reading the card terms helps avoid surprises and sets expectations about rewards and liability.

Annual fee, foreign transaction policies and APR affect the real cost of carrying the card. The annual fee sits in the midrange for travel-focused products. Travelers who spend abroad should check whether a foreign transaction fee applies to purchases made outside the United States, since that fee can add up on multiple trips.

APR for purchases is variable and tied to the prime rate. Typical ranges for cards like this change with market moves, so assume a variable APR that can rise if rates climb. Carrying a balance reduces the net value of points because interest charges often outweigh rewards.

Balance transfer and cash advance details

Balance transfer offers vary by issuer and timing. Look for any promotional APR periods and confirm the balance transfer fee before moving debt. The balance transfer fee is usually a percentage of the transferred amount, and that cost can erase short-term savings if the fee is high.

Cash advances are expensive. Standard cash advance fees and their APRs start immediately, and interest typically accrues from the transaction date. Rewards are not earned on cash advance transactions, so avoid using cash advance features unless necessary.

Important cardmember agreement details and disclosures

Review the cardmember agreement to understand reward expiration, forfeiture triggers, and how account closure affects points. Disclosures explain liability limits, dispute resolution steps, and conditions under which points may be clawed back.

Watch for fine-print items that affect benefits. Excluded transactions for bonus categories and merchant coding quirks can change how purchases post. Some perks require that you pay with the card to claim benefits or submit receipts for reimbursement.

Take time now to read the full card terms so you can compare the annual fee, APR, foreign transaction fee, balance transfer fee, cash advance rules and other provisions side by side with competitors before deciding.

How Bank of America Preferred Rewards members boost benefits

Joining Preferred Rewards gives cardholders clear ways to earn more on everyday spending. The program links Bank of America banking and Merrill investment balances to tiered perks and multipliers that raise card reward rates. Enrollment is required for the boost to apply.

Tiered multipliers and how to qualify

Preferred Rewards has tiers based on combined balances across eligible Bank of America and Merrill accounts. Typical thresholds start around $20,000 for the first tier, with higher tiers at $50,000 and $100,000. Each tier applies a percentage increase to your base card rewards, commonly adding 25%, 50%, or 75% extra.

To qualify, customers must meet the balance thresholds and enroll through their online banking or by speaking with a Bank of America representative. Once active, multipliers apply to new purchases while the enrollment and balances remain in good standing.

Practical examples showing extra points earned

Start with a baseline: a Premium Rewards card often earns 2 points per dollar on travel and dining and 1 point per dollar on other purchases. With a 25% multiplier, travel and dining rise to 2.5 points per dollar and non-bonus spend to 1.25 points.

Example: a moderate spender who puts $1,000 per month on travel and dining would earn 24,000 base points in a year. A 50% multiplier increases that to 36,000 points, delivering 12,000 extra points annually.

Another case: a commuter who spends $300 monthly on transit and gas at 1 point per dollar gains 3,600 points yearly. A 75% multiplier turns that into 6,300 points, an added 2,700 extra points that can fund a statement credit or a flight.

Combining with other Bank of America benefits

Linking checking, savings, and Merrill investment accounts can speed qualification for higher tiers. Meeting a higher tier unlocks stronger multipliers and access to relationship perks like fee waivers and priority service options.

Cardholders should review balances quarterly and confirm enrollment to keep multipliers active. Pairing Preferred Rewards with disciplined category spend magnifies Bank of America benefits and makes rewards accumulation more efficient over time.

Real-life use cases and tips for frequent travelers

Frequent travelers value practical steps that save time and protect plans. This section shares travel tips to help you get the most from the Bank of America Premium Rewards card. Short routines and smart habits make claims and redemptions simpler when travel disruptions occur.

Packing and document routines

Always pay for flights and hotels with the Premium Rewards card to trigger travel protections. Keep physical receipts, itineraries, and any proof of delay or cancellation in a small travel wallet. A compact printed folder speeds up airport claims.

Set up digital backups in your email and a cloud folder. Photograph baggage tags and damaged items right away. These quick actions reduce friction when filing for baggage or trip interruption coverage.

Redeeming points efficiently

Start by checking award availability on the Bank of America travel portal, then compare it with partner airline award charts. This two-step check shows whether to redeem points directly or transfer to a partner to redeem points for flights. Use flexible travel windows to hunt better award seats.

Stretch points by targeting upgrades and premium cabins, where the cents-per-point value often rises. If a partner airline shows upgrade availability, transfer miles and reserve the upgrade. Booking off-peak dates yields greater value per point.

Managing a card portfolio

Adopt a multiple cards strategy: use the Premium Rewards card for travel and dining. Keep a high-return card for groceries or gas if those categories pay better elsewhere. Carry a no-foreign-transaction-fee card for overseas spending when needed.

Track monthly spending categories and set card notifications. Review statements quarterly to see which card maximizes perks for each purchase type. These simple checks help you optimize category spend and keep rewards stacked efficiently.

Common questions and misconceptions about this card

Readers often ask if the Premium Rewards card makes sense for light flyers and those who travel only a few times a year. This section answers the most frequent concerns about value, redemptions, and security in plain language so you can weigh options with confidence.

Is the card worth it if you are an occasional traveler? Do the math before deciding. Add your expected travel and dining spend, any statement credits you can claim, and the value of the signup bonus. If those totals exceed the annual fee, the card pays for itself. If not, a no-annual-fee cash-back card may suit you better.

Here are break-even scenarios to consider.

• Estimate yearly travel and dining spend that earns bonus points.
• Factor in statement credits and travel protections that save you money.
• Include value from a one-time welcome bonus or Preferred Rewards multipliers.

If you rarely leave home, many occasional travelers find the fee hard to justify. Use the welcome offer or bank relationship as a short-term offset. Otherwise, look for cards with no annual fee and solid cash-back rates.

How easy is it to redeem points for high-value travel? Portal redemptions are simple and let you redeem points quickly, but they often yield lower cents-per-point. High-value awards come from a strategy that uses partner transfers, flexible dates, and vigilant searching.

Practical steps to increase value:

1. Monitor partner award charts and transfer bonuses for sweet spots.
2. Be flexible with travel dates and travel classes to find saver awards.
3. Combine points and cash when inventory is tight to stretch value.

Booking through the issuer’s online portal helps you redeem points easily for everyday trips. For aspirational redemptions, plan ahead and watch for award space to unlock greater value per point.

Security, customer service, and dispute handling are top concerns for cardholders. The card includes standard fraud protection and chip technology. Mobile wallet support lets you lock or remove cards from your phone quickly if needed.

To report a lost or stolen card, call the number on the back of the card or visit a Bank of America branch. Typical response times for provisional credits vary, but many disputes see temporary credits within a few business days.

Customer service options include phone support, secure messaging through online banking, and in-branch assistance. For dispute resolution, keep receipts, transaction details, and any communication. That documentation speeds investigations and helps secure provisional credits faster.

Conclusion

The Bank of America Premium Rewards card earns solid points on travel and dining, offers meaningful travel protections, and delivers flexible redemptions through the Bank of America travel portal and select transfer partners. This travel rewards summary highlights its steady earning potential and practical benefits without the high annual fee of ultra-premium cards.

For mid-to-premium travelers and Bank of America customers who can qualify for Preferred Rewards multipliers, the card can be a top pick. If you want straightforward redemptions, reliable travel protections, and extra value from Preferred Rewards, this helps answer is Premium Rewards right for you.

Before applying, check current terms and welcome offers, and run the numbers on how Preferred Rewards and your typical spend patterns change value. Consider pairing the card with a niche option to cover categories it doesn’t optimize to build a balanced wallet.

Use the detailed sections above to weigh costs and benefits for your travel habits and finances. This Premium Rewards conclusion should help you decide whether this is the best travel card for Bank of America customers in your situation.