Premium Rewards Card

welcome offer

Earn 50,000 points after $3,000 spent within the first 3 months.

Bonus Cash Value

Approximately $500*

Annual Fee

$95

Card Rewards

Earn 2 points per $1 on travel and dining

1.5 point per $1 spent everywhere else

Help Me Build Credit has partnered with CardRatings for our coverage of credit card products. Help Me Build Credit and CardRatings may receive a commission from card issuers. The editorial content on this page is not provided by any of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone.

Card Overview

The Premium Rewards card earns 2 points per dollar spent. Bank Of America Preferred Rewards customers can get an additional 25-75% reward bonuses on every purchase. Card benefits include an annual $100 airline incidental credit. Global Entry or TSA Precheck, no foreign transaction fees, purchase protection, baggage insurance, and more!

Card-Smart Tips & Advice
  • Good credit needed
  • Bank of America will only approve you for a maximum of 2 cards within 2 months, 3 cards within 12 months, and 4 cards within 24 months
  • You cannot get approved if you have more than a total of 5 Bank Of America credit cards open
  • Bank Of America will not approve you for a credit card if you have opened more than 2 credit cards (other issuers included) in the past 12 months (and up to 6 credit cards in the past 12 months for Bank Of America Bank Account Holders)
  • You are eligible to receive the Welcome Bonus even if you received the Welcome Bonus in the past.
  • Bank Of America will usually pull your Experian credit report (If you freeze Experian you may be able to call reconsideration and request they pull one of the other credit bureaus)
  • You can check your application status  here
  • If declined you can call the reconsideration department at 1 866 695 6598
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Card Details And Benefits
  • Preferred Rewards customers get an additional 25% to 75% rewards bonus on every purchase
  • Earn a $100 Airline Incidental Statement Credit Annually
  • Roadside Dispatch
  • Global entry and TSA pre-check
  • No Foreign Transaction Fee
  • Trip Cancellation Insurance
  • Auto Rental Collision Insurance
  • Lost Luggage Reimbursement
  • Purchase Protection

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*The estimate is based on our research on what approximate value consumers get when booking travel with points or transferring the points to partner airlines/hotels and booking award travel. You might need to be reward savvy to achieve the proper value. You can find out more on how we value points here

Please note: Although, I put a lot of effort to give my readers unbiased information. I’m legally required to notify you that I may be receiving compensation from credit card companies mentioned on this page. Please see our Advertisement Disclosure for more details.
The editorial content on this page is not provided by any of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone.
Help Me Build Credit has partnered with CardRatings for our coverage of credit card products. Help Me Build Credit and CardRatings may receive a commission from card issuers.