Get to know the updated Bank of America® Premium Rewards® credit card

Maryalene Laponsie
Written by
Maryalene Laponsie
Why you should trust CardRatings
Terms apply; see the online credit card application for full terms and conditions of offers and rewards.

If you haven’t been paying attention, you may have missed that Bank of America has become a serious contender for some of the best rewards credit cards currently available. And now, its card_name is poised to get even better.

Bank of America is rolling out a new welcome offer for the Premium Rewards® card that allows new cardholders the opportunity to earn a valuable point bonus when opening an account. This is on top of its already lucrative perks that include statement credits, unlimited points on purchases and no blackout dates or restrictions on points redemptions.

Let’s get to know the updated CardName.

New cardholders can earn bonus points worth as much as $600

Now is a great time to apply for the card_name if you haven’t already. While the card has long had a generous welcome offer, it’s upping the ante for new applicants.

Right now, new cardholders can receive 60,000 online bonus points when they spend at least $4,000 on purchases within 90 days of opening an account. Those points have a value of $600 and can be redeemed in a variety of ways, such as:

  • Statement credits
  • Cash back deposits in Bank of America checking or savings accounts
  • Credits in Merrill accounts, including 529 college savings plans
  • Gift cards
  • Purchases in the Bank of America Travel Center

There are no blackout dates or restrictions on how you can use your points. What’s more, they never expire as long as your account remains open.

These flexible rewards options are one reason why we like the CardName so much. Not all credit card companies provide such variety when it comes to how cardholders can cash in their points.

CardName: Great for travelers

Anyone can benefit from the card_name, but some of its perks make it an especially good choice for travelers. These include the following:

  • $100 in Airline Incidental Statement Credits, which can be used to cover qualifying purchases such as seat upgrades and baggage fees
  • $100 in Airport Security Statement Credits that can be applied to TSA PreCheck or Global Entry applications every four years
  • No foreign transaction fees
  • Emergency travel benefits such as trip delay reimbursement and lost luggage reimbursement
  • 24/7 Roadside Dispatch Program and Auto Rental Collision Damage Waiver
  • Visa Signature concierge service
  • Premium benefits for stays booked through the Visa Signature Luxury Hotel Collection

The CardName also comes with purchase protections that can benefit anyone. These include Warranty Manager Service, Return Protection and Purchase Security.

How to earn rewards with the CardName

In addition to the current welcome bonus offer, the card_name awards points for all purchases. Specifically, you earn:

  • 2 points for every $1 spent on travel purchases
  • 2 points for every $1 spent on dining purchases
  • 1.5 points for every $1 spent on other purchases

There is no limit on how many points you can earn, and points don’t expire as long as your account remains open.

If you are a Bank of America Preferred Rewards member, you can earn even more. Members get the following bonuses on earnings and redemptions based on their membership tier:

  • Gold tier: 25% Preferred Rewards bonus
  • Platinum tier: 50% Preferred Rewards bonus
  • Platinum Honors tier and higher: 75% Preferred Rewards bonus

Tier levels are determined by a member’s three-month combined daily average balance in Bank of America and Merrill accounts.

Who should apply for the CardName?


Between its lucrative sign-on bonus and robust rewards program, the card_name can be a good choice for almost everyone, but it will be particularly appealing for those who fall into the following categories:

  • Frequent travelers
  • Those who dine out often
  • Bank of America and Merrill customers who are Preferred Rewards members

Even those who don’t fall into these categories should consider applying for the card. Now that it is offering 60,000 bonus points, worth $600, for new cardholders who spend $4,000 within 90 days, it makes sense for anyone with the proper credit score required, and who can meet the spending requirement within 90 days, to give this card a try.

Maryalene Laponsie
Cardratings Contributor

Maryalene is a freelance contributor to and specializes in personal finance topics such as credit cards, budgeting, saving and investing. She has written professionally for nearly 25 years and is a regular contributor to U.S. News & World Report, Money Talks News,...Read more

Featured Partner Cards:


The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. does not review every company or every offer available on the market.