Bank of America® Premium Rewards® Elite
Bank of America and related product names are trademarks of their respective owners. Madeen is not affiliated with, sponsored by, endorsed by, or acting on behalf of Bank of America. Madeen is an independent credit-card comparison and education service. Issuer websites control current terms, fees, and eligibility.
How we calculate effective rate →
The Bank of America® Premium Rewards® Elite from Bank of America earns up to 2% effective value on dining in Madeen's catalog snapshot. Its annual fee is $550. New applicants may see: 75,000 online bonus points — a $750 value — after you make at least $5,000 in purchases in the first 90 days of account opening..
- Top category
- Dining
- Effective value
- 2%
- Annual fee
- $550
Best for dining-heavy spend when the $550 fee fits your usage; confirm issuer terms before applying. Best for spenders who put meaningful volume in dining and can earn 2x points. The welcome bonus can help if you can meet the spend requirement. Travel perks may add value beyond the earn rate.
What does the Bank of America Premium Rewards Elite earn in each category?
Dining is the strongest category at 2% effective value (2x points at about 1 cents each). That dining rate ranks higher than about 59% of the 2,850 cards we track in that category. The five-category effective-rate table on this page shows how Bank of America Premium Rewards Elite compares across dining, grocery, gas, travel, and other spend. Catalog spend signals.
Dining is the strongest category at 2% effective value (2x points at about 1 cents each). That dining rate ranks higher than about 59% of the 2,850 cards we track in that category. The five-category effective-rate table on this page shows how Bank of America Premium Rewards Elite compares across dining, grocery, gas, travel, and other spend.
| Category | Earn rate | Effective value |
|---|---|---|
| Dining Restaurants, cafes, takeout | 2x points | 2% Top category |
| Grocery Supermarkets and grocery stores | 1.5x points | 1.5% |
| Gas Gas stations and fuel | 1.5x points | 1.5% |
| Travel Flights, hotels, transit | 1.5x points | 1.5% |
| Other General everyday spend | 1.5x points | 1.5% |
Madeen values Bank of America points at about 1 cents each. Madeen compares every card using this cash-equivalent estimate while still showing the raw earn rate for context.
What are the Bank of America Premium Rewards Elite reward caps and conditions?
The Bank of America Premium Rewards Elite has 1 notable cap or condition rule(s) in Madeen's catalog, including activation windows, spend limits, and category exclusions. Review each bullet below before assuming unlimited earn rates.
- Earn unlimited 2 points for every $1 spent on dining purchases
Who should get the Bank of America Premium Rewards Elite?
The Bank of America Premium Rewards Elite fits spenders who put meaningful volume in dining and can earn 2x points. Best for spenders who put meaningful volume in dining and can earn 2x points. The welcome bonus can help if you can meet the spend requirement. Travel perks may add value beyond the earn rate.
Bank of America Premium Rewards Elite fits spenders who put meaningful volume in dining and can earn 2x points. Madeen ranks its dining effective rate higher than about 59% of the catalog in that category. Compare it against cards you already carry with Madeen — no bank login required.
Best for spenders who put meaningful volume in dining and can earn 2x points. The welcome bonus can help if you can meet the spend requirement. Travel perks may add value beyond the earn rate.
Compare it against simpler no-fee cards if you want minimum complexity.
Best for dining-heavy spend when the $550 fee fits your usage; confirm issuer terms before applying.
Pros
- Strongest Madeen category is dining at about 2% effective (2x points).
- No foreign transaction fee listed.
- Welcome bonus may add value if you can meet spend requirements.
- Includes travel or statement credits in our benefits snapshot.
Cons
- $550 annual fee requires enough spend in bonus categories to offset.
- Bank of America points value depends on how you redeem, not straight cash back.
What is the Bank of America Premium Rewards Elite welcome bonus?
In Madeen's catalog snapshot, the Bank of America Premium Rewards Elite welcome offer is 75,000 online bonus points — a $750 value — after you make at least $5,000 in purchases in the first 90 days of account opening.. Minimum spend, eligibility, and offer windows are set by the issuer and can change — confirm on the issuer application page.
- Offer
- 75k Bank of America points (~$750 estimated)
- Terms (catalog snapshot)
- 75,000 online bonus points — a $750 value — after you make at least $5,000 in purchases in the first 90 days of account opening.
- Minimum spend
- $5,000
- Window
- 90Days
Does the Bank of America Premium Rewards Elite have an annual fee?
The Bank of America Premium Rewards Elite has an annual fee of $550 and a foreign transaction fee of None. Confirm current fees on the issuer page before applying.
- Annual fee
- $550
- Foreign transaction fee
- None
What travel perks does the Bank of America Premium Rewards Elite include?
The Bank of America Premium Rewards Elite includes Trusted traveler credit, Lounge access, $150 lifestyle credit, $300 airline incidental credit and more in our snapshot. Perks and benefits can change; verify coverage on the issuer site before you rely on them.
Trusted traveler credit
Receive up to $120 in statement credits for either Global Entry or TSA PreCheck® application fees, every four years
Lounge access
Enjoy free unlimited access to airport lounges worldwide with up to 4 complimentary Priority Pass™ Memberships
What benefits come with the Bank of America Premium Rewards Elite?
$300 airline incidental credit
$300/yrReceive up to $300 annually in Airline Incidental Statement Credits for qualifying purchases such as seat upgrades, baggage fees, airline lounge fees and in-flight services
$150 lifestyle credit
$150/yrReceive up to $150 annually for lifestyle conveniences including video streaming services, food delivery, fitness subscriptions and rideshare services
24/7 Full-Service Concierge
$150/yrComplimentary 24/7 Full-Service Concierge to book your travel, dinner reservations, event tickets and more
Full Service Concierge
$150/yrOpen the door to unique experiences, find tickets to top sports and entertainment events, book travel, make dinner reservations and more with complimentary 24/7 Premium Rewards® Elite Visa Infinite® Concierge service.
Visa Infinite Concierge Services
$150/yrEnjoy 24/7 personalized assistance for travel planning, dinner reservations, sports, entertainment tickets and more. Available 365 days a year from home or abroad.
Priority Pass™ Select Membershipp
$99/yrEnjoy free unlimited access to airport lounges and experiences worldwide with up to 4 complimentary Priority Pass™ Select Memberships
Trip Cancellation / Interruption
$35/yrWhen you purchase your travel ticket with a covered Visa card and you must cancel or interrupt your trip, this benefit can help reimburse for the non-refundable cost of your passenger fare. This coverage applies to more than air travel. It also can be in place when a covered Visa card is used to purchase a ticket for travel via other forms of eligible transportation, such as a ferry, rail, bus or cruise ship.
Earn more cash back
$25/yrIf you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means you could earn 2.5-3.5 points on travel and dining purchases and 1.87-2.62 points on all other purchases, for every $1 you spend.
FICO® Score
$25/yrNow, when you opt-in you can access your FICO® Score updated monthly for free, within your Mobile Banking app or in Online Banking.
Travel Protections
$25/yrTravel Insurance protections to assist with trip delays, cancellations and interruptions, baggage delay, lost luggage reimbursement, roadside assistance, and emergency evacuation and transportation.
Visa Infinite Car Rental Benefits
$25/yrGet VIP amenities, complimentary status upgrades and discounts with Avis®, Hertz®, National® and Audi on demand.
Global Entry Statement Credit
$25/yrApply for Global Entry, a U.S. Customs and Border Protection program and use your Visa Infinite card to pay the application fee (currently $120) to receive a $120 statement credit.
Related encyclopedia topics
Common questions about the Bank of America Premium Rewards Elite
Where do cardholders spend most with the Bank of America Premium Rewards Elite?
Madeen's RewardsCC catalog snapshot shows the strongest bonus categories on coffee (2x), fast food (2x), other food and drink (2x) for the Bank of America Premium Rewards Elite. These are anonymized issuer category signals, not individual cardholder transactions. Route everyday spend through categories that match your habits, then compare effective rates with Madeen at checkout.
Is the Bank of America Premium Rewards Elite credit card worth it?
The Bank of America® Premium Rewards® Elite from Bank of America earns up to 2% effective value on dining in Madeen's catalog snapshot. Its annual fee is $550. New applicants may see: 75,000 online bonus points — a $750 value — after you make at least $5,000 in purchases in the first 90 days of account opening..
Does the Bank of America Premium Rewards Elite have an annual fee?
The Bank of America Premium Rewards Elite carries an annual fee of $550 in Madeen's catalog snapshot. Issuer terms can change, so confirm the current fee on the issuer's site before you apply. Madeen does not predict approval or prequalification.
What category earns the most with the Bank of America Premium Rewards Elite?
Dining is the strongest Madeen category for the Bank of America Premium Rewards Elite at about 2% effective value, based on our catalog snapshot and standard point valuations. Other categories are listed in the effective-rate table on this page.
Does the Bank of America Premium Rewards Elite charge foreign transaction fees?
The Bank of America Premium Rewards Elite does not charge a foreign transaction fee in Madeen's catalog snapshot, which can make it stronger for purchases outside the U.S. Issuer terms still control international acceptance and other fees.
What is the Bank of America Premium Rewards Elite welcome bonus?
The Bank of America Premium Rewards Elite welcome offer in our snapshot: 75,000 online bonus points — a $750 value — after you make at least $5,000 in purchases in the first 90 days of account opening.. Minimum spend, eligibility, and offer windows are set by the issuer and can change.
How does the Bank of America Premium Rewards Elite compare to similar cards?
Compare the Bank of America Premium Rewards Elite against AMSA Customized Cash Rewards Card (3% on Dining, $0 fee); Bank of America Customized Cash Rewards (3% on Dining, $0 fee); Bank of America Customized Cash Rewards for Students (3% on Dining, $0 fee). Madeen ranks effective value by category and annual fee using the same catalog snapshot dated 2026-05-01.
| Card | Top category | Effective value | Annual fee |
|---|---|---|---|
Bank of America Premium Rewards Elite This card | Dining | 2% | $550 |
Bank of America | Dining | 3% | $0 |
Bank of America | Dining | 3% | $0 |
Bank of America | Dining | 3% | $0 |
Bank of America | Dining | 3% | $0 |
Side-by-side comparisons
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Bank of America and related product names are trademarks of their respective owners. Madeen is not affiliated with, sponsored by, endorsed by, or acting on behalf of Bank of America. Madeen is an independent credit-card comparison and education service. Issuer websites control current terms, fees, and eligibility.
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