Bank of America

BoA Premium Rewards Elite

$550/year, earning Bank of America Points, on the Visa network.

Card terms last verified against issuer pages on 2026-09-20.

At a glance

The BoA Premium Rewards Elite is a $550/year card from Bank of America earning Bank of America Points. It earns 2x on travel, 2x on dining and 1.5x on everything else. It carries 3 recurring statement credits worth $480 a year, listed in full below with the cap and reset date for each.

Annual fee$550

Credits a year$480

Base rate1.5x

Foreign feeNone

What it earns

Rates are the multipliers Bank of America advertises. We do not convert them into a percentage return, because that requires putting a price on Bank of America Points and that price is a judgement, not a fact — see how we source this.

Category	Rate	Notes
Travel	2x
Dining	2x
Other	1.5x	Everything else

Statement credits

$480 a year across 3 credits against a $550 annual fee. The columns that matter are the cap and the reset date: a credit paid monthly cannot be saved up, and one that resets on the calendar year expires on 31 December no matter when you opened the card.

Resets on the calendar year, expiring 31 December

Resets on your cardmember year

Credit

Windows in a year

Each

A year

Airline Incidental Credit Up to $300 annual statement credit for airline incidental fees like baggage, seat upgrades, lounge access (excludes airfare)

Once a year, resets on the cardmember year

$300

$150 Lifestyle Credit Up to $150 annual statement credit for streaming services, food delivery, fitness subscriptions, and ride-hailing services

Once a year, resets on the cardmember year

$150

Global Entry/TSA PreCheck Credit Up to $120 statement credit for Global Entry or TSA PreCheck application fee (once every 4 years)

Every 4 years, resets on the cardmember year

$120

$30

Status and included memberships

Priority Pass Select — Up to 4 complimentary Priority Pass Select memberships with access to 1,700+ airport lounges worldwide (cardholder + 2 guests per visit)

Protections and insurance

Coverage terms below are summaries. Insurance benefits are governed by a separate guide to benefits document from the issuer, and the exclusions in that document are what actually decide a claim.

Travel Insurance — Comprehensive travel protection including trip cancellation/interruption, trip delay, baggage delay, lost luggage, and primary rental car insurance

Questions people ask about the BoA Premium Rewards Elite

What is the annual fee on the BoA Premium Rewards Elite?

The BoA Premium Rewards Elite has a $550 annual fee.

What statement credits does the BoA Premium Rewards Elite include?

It carries 3 recurring statement credits worth $480 a year in total: Airline Incidental Credit ($300, resets on the cardmember year); $150 Lifestyle Credit ($150, resets on the cardmember year); Global Entry/TSA PreCheck Credit ($30, resets on the cardmember year). Verified 2026-09-20.

What does the BoA Premium Rewards Elite earn?

2x on travel, 2x on dining, 1.5x on other, and 1.5x on everything else, in Bank of America Points.

Is the BoA Premium Rewards Elite worth the annual fee?

Its recurring statement credits total $480 a year against a $550 fee, so the card pays for itself on credits alone if you use 100% of them. Whether that holds depends on whether the specific merchants suit you — the credit table on this page lists each one.

Does the BoA Premium Rewards Elite charge foreign transaction fees?

No — the BoA Premium Rewards Elite has no foreign transaction fee.

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a year across 2 credits

All Bank of America cards

Verify before you apply. Card terms change without much notice, and issuers vary offers by applicant. Everything on this page was last checked on 2026-09-20 against our card database. The issuer's own terms page is the authority.