Bank of America · Personal card
Bank of America Premium Rewards Elite credit card
The Bank of America Premium Rewards Elite credit card has a $550 annual fee and up to $450 a year in statement credits, across two credits. None of them need enrollment.
- Annual fee
- $550
- Charged on your account anniversary
- Credits a year
- Up to $450
- 2 statement credits, used in full
- Need enrollment
- None
- Every benefit applies on its own
Every credit, and when it resets
Amounts are per period. The last column is what each credit adds up to in a year if you use it every time.
| Credit | Amount | Resets | A year |
|---|---|---|---|
| Airline incidental creditNo airline selection or enrollment; the credit is applied automatically to qualifying charges on the card.$300 a year. On January 1 | $300 a year | On January 1 | $300 |
| Lifestyle creditNo enrollment; the credit is applied automatically when the card pays for a qualifying purchase.$150 a year. On January 1 | $150 a year | On January 1 | $150 |
| Total a year, if you use every credit | $450 |
What people get wrong
- Nothing rolls over. Whatever is unused when a period ends is gone, so a monthly credit missed in March can't be used in April.
Questions about the Bank of America Premium Rewards elite Credit Card
What is the annual fee on the Bank of America Premium Rewards Elite credit card?
$550 a year, charged each year on your account anniversary.
How much are the Bank of America Premium Rewards elite Credit Card credits worth?
Up to $450 a year if you use all two statement credits in full. The largest: Airline incidental credit ($300) and Lifestyle credit ($150).
Which Bank of America Premium Rewards elite Credit Card benefits need enrollment?
None. Every Bank of America Premium Rewards elite Credit Card benefit applies without enrolling.
When do the Bank of America Premium Rewards elite Credit Card credits reset?
Yearly credits reset on January 1. Unused credit does not roll over.
Is the Bank of America Premium Rewards elite Credit Card worth the $550 fee?
Not on credits alone: they add up to $450, $100 less than the fee. Rewards on spending and other benefits would have to make up the rest.
What points does the Bank of America Premium Rewards elite Credit Card earn?
Bank of America Preferred Rewards points.
