Bank of America Premium Rewards
The Bank of America Premium Rewards from Bank of America has a $95 annual fee. At $2,650 a month of typical household spending it pays about $413 a year after fees, before statement credits, $223 less than the Citi Double Cash, a flat 2% card.
Terms checked October 24, 2026. Net values use the spending mix of 1,229 U.S. households in the Bureau of Labor Statistics' Consumer Expenditure Interview Survey. This is an estimate, not financial advice.
What does the Bank of America Premium Rewards earn?
2x travel; 2x transit; 2x dining; 1.5x on everything else.
Not counted in the numbers on this page:
- Preferred Rewards 25-75% bonus
- $100 airline incidental credit and other credits
How much would it pay you a year?
This is the card's rewards minus its annual fee, at three spending levels, with spending split the way the survey households split theirs. Statement credits and sign-up bonuses are left out.
| Spending a month | Bank of America Premium Rewards | Citi Double Cash (2%) |
|---|---|---|
| $1,500 | $193 | $360 |
| $2,650 (the survey median) | $413 | $636 |
| $5,000 | $864 | $1,200 |
The mix is 30% everything else, 25% groceries, 16% phone and utilities, 13% dining, and smaller shares elsewhere. Your own split decides the real answer: add your statements to work it out on what you actually spent.
How did it do for real households?
We ran each of the 1,229 households in the 2024 survey through every card, on 12 straight months of their own spending. It was never the best of the 53 cards for any household, and never paid more than the Citi Double Cash, a flat 2% card. For the median household it paid $227 a year less than the flat 2% card.
The survey records spending categories but not merchants, so merchant bonuses and statement credits never count there, which favors flat cards. How we ran the household test.
What credits does it come with?
Up to $125 a year in credits, worth that much only if you would spend at these merchants anyway. PointMaxx counts a credit only when your statements show you'd have used it.
| Credit | Up to |
|---|---|
| Airline incidental credit | $100 a year |
| TSA PreCheck / Global Entry | $100 every 4 years ($25 a year) |
Fees and sign-up bonus
- Annual fee: $95.
- Foreign transaction fee: none.
- Sign-up bonus: 60,000 points ($600 at 1¢ a point) after $4,000 of spending in 3 months. Offers change and can differ by applicant, so check the issuer's page.
Other benefits
- Auto Rental Collision Damage Waiver
- Trip delay, cancellation and interruption insurance
- Baggage delay and lost luggage reimbursement
- Emergency evacuation and transportation
- Warranty Manager Service
- Purchase Security
- Return Protection
- 24/7 Roadside Dispatch
Cards that pay about the same
At $2,650 a month, these pay closest to the Bank of America Premium Rewards:
- Chase United Gateway: $411 a year
- Amex Hilton Honors Surpass: $402 a year
- Capital One VentureOne: $398 a year
- Amex Delta SkyMiles Blue: $431 a year
See what it would have paid you
Add your statementsFree, in your browser. Your statements are never uploaded.
PointMaxx runs a year of your own card statements against 53 U.S. cards, after annual fees, caps and the credits you'd really use. No statements on hand? The quick estimate asks seven questions instead.
Sources
- bankofamerica.com/credit-cards/products/premium-rewards-credit-card/
- creditcards.com/reviews/bank-of-america-premium-rewards-card-review
- Household spending: BLS Consumer Expenditure Surveys public-use microdata, 2024 Interview Survey.
See a wrong rate? Tell us. PointMaxx is not affiliated with or endorsed by Bank of America; the card's name is used only to say which card is meant.