Our illustration, not the card’s design
Bank of America credit card
Bank of America® Premium Rewards® Elite Credit Card
- APR up · 18.24% to 19.74% · Oct 4, 2026
$550 a year. 75,000 points welcome bonus. Purchase APR 19.74–27.74%, variable. No foreign transaction fees.
Checked Nov 1, 2026Updated
- Welcome offer
- Receipt · Welcome offerChecked Nov 1, 2026
Issuer's page · bankofamerica.com
“75,000 bonus points offer”
- Annual fee
- Receipt · Annual feeChecked Nov 1, 2026
CFPB credit card survey · Reported to the CFPB
“$550 annual fee and no foreign transaction fees †”
- Purchase APR · variable
- Receipt · Purchase APRChecked Nov 1, 2026
Issuer's page · bankofamerica.com
“19.74% - 27.74%”
- Foreign transactions
- Receipt · Foreign transactionsChecked Nov 1, 2026
CFPB credit card survey · Reported to the CFPB
“$550 annual fee and no foreign transaction fees †”
Select an underlined figure to see where it comes from.
Bank of America’s terms
Welcome offer
75,000 points
At least $5,000 in purchases
75,000 online bonus points (a $750 value) after at least $5,000 in purchases in the first 90 days of account opening
- Larger than about 85% of the 44 other points bonuses we track.
In dollars
What it’s worth
Yearly value in dollars: rewards and credits minus the annual fee, for three ways of spending. First year includes any welcome bonus.
| Spending | Value against the fee | First year | After |
|---|---|---|---|
| Light spender | −$365 | −$365 | |
| Typical spender | $675 | −$75 | |
| Heavy spender | $1,300 | $550 |
The spending each assumes, and what isn’t counted
- Light spender: groceries $300, dining $100, gas $100, everything else $500 a month
- Typical spender: groceries $600, dining $300, gas $200, travel $150, everything else $1,250 a month
- Heavy spender: groceries $900, dining $600, gas $300, travel $600, airfare $300, hotels $300, everything else $2,500 a month
Assumed: points valued at 1¢, the program's cash rewards value; welcome bonus needs $5,000 in 3 months.
−$365a year
The same in the first year and after.
Rewards and credits$185
−$365 after the fee−$550 annual fee
The spending this assumes
A month: groceries $300, dining $100, gas $100, everything else $500. Assumed: points valued at 1¢, the program's cash rewards value; welcome bonus needs $5,000 in 3 months.
−$75a year
$675 the first year, with the welcome bonus.
Rewards and credits$475
−$75 after the fee−$550 annual fee
The spending this assumes
A month: groceries $600, dining $300, gas $200, travel $150, everything else $1,250. Assumed: points valued at 1¢, the program's cash rewards value.
$550a year
$1,300 the first year, with the welcome bonus.
Rewards and credits$1,100
You keep $550−$550 annual fee
The spending this assumes
A month: groceries $900, dining $600, gas $300, travel $600, airfare $300, hotels $300, everything else $2,500. Assumed: points valued at 1¢, the program's cash rewards value.
Use your own spending
Estimates from the published terms above, as checked Nov 1, 2026; not advice. How we value cards
Against the market
How it compares
- Lower top APR than about 55% of the 163 cards on our Sign-up bonuses list (see the list).
Other points cards with fees over $300
- PalladiumBilt · $495 a year+$290 a year
- American Express The American Express® Gold CardAmerican Express · $325 a year+$125 a year
- Atmos Rewards Summit Visa InfiniteBank of America · $395 a year+$50 a year
Against this card, for our typical spender’s value (rewards and credits minus fees, after the first year).
Shares rounded to 5 points. Fees and APRs as stated; value for our typical spender. Method
BofA Rewards™
How you earn
- 2×
- 2 points for every $1 spent on travel purchases2 points for every $1 spent on dining purchases
- 1.5×
- Everything else
Points per dollar.
Benefits
- Airline Incidental Statement Credits: $300 annual
- Lifestyle conveniences statement credits: $150 annual
- Global Entry or TSA PreCheck® application fee credit: $120 every 4 years
- Up to $120 in statement credits for Global Entry or TSA PreCheck® application fees every four years
- Free unlimited access to airport lounges and experiences worldwide with up to 4 complimentary Priority Pass™ Select Memberships
All 16 benefits
- 20% savings on domestic or international airfare for any class when paying with points through BofA Travel or the Concierge
- Complimentary 24/7 Premium Rewards® Elite Visa Infinite® Concierge service
- Visa Infinite Luxury Hotel Collection benefits, including late checkouts, free breakfast daily for two and automatic upgrades; some benefits based on availability
- Visa Infinite Car Rental Benefits, including VIP amenities, complimentary status upgrades and discounts with Avis®, Hertz® and National®
- Up to 25% back on inflight purchases
- Trip delay
- Trip cancellation
- Baggage
- Roadside
- Emergency assistance
- Other
Changes
- Oct 4, 2026 APR 18.24% to 19.74%
Only changes that held for at least three days on both sides count; one-day blips in a reading don’t.
Every figure with its receipt
Rates and fees
| Annual fee | Receipt · Annual feeChecked Nov 1, 2026 CFPB credit card survey · Reported to the CFPB “$550 annual fee and no foreign transaction fees †” |
|---|---|
| Purchase APR | Receipt · Purchase APRChecked Nov 1, 2026 Issuer's page · bankofamerica.com “19.74% - 27.74%” |
| Balance transfer APR | Receipt · Balance transfer APRChecked Nov 1, 2026 Issuer's page · bankofamerica.com “19.74% - 27.74%” |
| Balance transfer fee | Receipt · Balance transfer feeChecked Nov 1, 2026 Issuer's page · bankofamerica.com “5% of the amount of each transaction.” |
| Cash advance APR | Receipt · Cash advance APRChecked Nov 1, 2026 Issuer's page · bankofamerica.com The source states this figure; we have no exact sentence on file yet. |
| Cash advance fee | Receipt · Cash advance feeChecked Nov 1, 2026 Issuer's page · bankofamerica.com “5% of the amount of each transaction.” |
| Penalty APR | Receipt · Penalty APRChecked Nov 1, 2026 Issuer's page · bankofamerica.com “Up to 29.99% , based on your creditworthiness.” |
| Late payment | Receipt · Late paymentChecked Nov 1, 2026 Issuer's page · bankofamerica.com “Up to $41 .” |
| Foreign transactions | Receipt · Foreign transactionsChecked Nov 1, 2026 CFPB credit card survey · Reported to the CFPB “$550 annual fee and no foreign transaction fees †” |
| Grace period | Receipt · Grace periodChecked Nov 1, 2026 Issuer's page · bankofamerica.com “Your due date is at least 25 days after the close of each billing cycle.” |
Before you apply
- What the application asks: your name, address, date of birth, Social Security number (or ITIN), income and housing payment. By law the issuer must consider your ability to pay (Regulation Z, 1026.51).
- Your credit report: applying usually means a hard inquiry, which can lower your score slightly for a while. Some issuers let you check whether you’re pre-approved first without one. How credit reports work (CFPB)
Questions
- What is the annual fee?
- $550 · Reported to the CFPB, since Sep 29, 2026
- Does it charge a foreign transaction fee?
- No. · Reported to the CFPB, since Oct 4, 2026
- What is the purchase APR?
- 19.74–27.74% APR · bankofamerica.com, since Oct 4, 2026
- Is there a welcome bonus?
- 75,000 points after $5,000 in purchases. · bankofamerica.com, since Nov 1, 2026