Bank of America · Visa · travel
Premium Rewards
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Terms read from Bank of America's page on Oct 16, 2026.
Year 1, after fees
$1,213
Year 2+, after fees
$613
every year after
3 years, after fees
$2,438
Break-even
Month 2
Earn rate by category
All values are after each card's annual or monthly fee, and foreign transaction fees when you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime or Instacart+) aren't included.
Values for points and miles are estimates based on published redemption valuations; actual value depends on how you redeem.
On each spending preset
After fees; points at their cash value. "~" marks estimates.
| Spending | Year 1 | Year 2+ | 3 years | Break-even |
|---|---|---|---|---|
| Student ($985/mo) | $160 | $160 | $481 | Month 5 |
| Couple ($2,555/mo) | $1,063 | $463 | $1,988 | Month 2 |
| Family ($3,350/mo) | $1,213 | $613 | $2,438 | Month 2 |
| Frequent traveller ($3,880/mo) | $1,371 | $771 | $2,913 | Month 2 |
| Big spender ($7,960/mo) | $2,150 | $1,550 | $5,251 | Month 1 |
Who it suits
- People who spend a lot on dining and flights, where it earns above its base rate.
- Even light spenders: on a student's $985 a month it still earns back its fee.
- Spending abroad: no foreign transaction fee.
Who should skip it
- Nothing stands out on the presets; check it against your own spending.
Fees and rates
- Annual fee
- $95
- Foreign transaction fee
- None
- Purchase APR
- 19.74% to 27.74% (variable)
Rewards
- 2% on travel
- 2% on dining
- 1.5% on everything else
Credits, as counted
- Airline incidental credit: $100 a year50% used
- TSA PreCheck or Global Entry credit: $100 every 4 years50% used
Eligibility and availability
- Income
- None published
Published requirements only. We don't estimate approval odds.
Assumptions
- Cash back: Paid in cash, so the value is exact, not an estimate.
- Welcome bonus: 60,000 points ($600) after $4,000 in purchases in the first 90 days. Your spending meets it in month 2.
- Credits: Each credit counts at the share a typical cardholder uses (listed on the card's page).
- Note: Points are worth 1 cent each (Bank of America shows 60,000 points as $600), so they're counted as cash.
- Note: Preferred Rewards bonuses of up to 75% more aren't counted.
Earns more every year after year 1
On a family's spending, these keep more value from year 2 than this card's $613.
Chase IHG One Rewards PremierYear 2+ ~$1,243
Wells Fargo One Key CardYear 2+ $864
Chase Marriott Bonvoy BoundlessYear 2+ ~$809
Frequently asked questions
Is the Bank of America Premium Rewards worth it?
On a family's spending ($3,350 a month, points at their cash value), it's worth $1,213 in year 1 and $613 a year after that, after a $95 annual fee. It covers its fee by month 2.
What is the Bank of America Premium Rewards welcome offer?
60,000 points ($600) after $4,000 in purchases in the first 90 days.
Does the Bank of America Premium Rewards charge foreign transaction fees?
No. The issuer states no foreign transaction fee.
Sources
Rates, fees and offers are set by the issuer and may change. Check the issuer's terms before you apply. We don't estimate approval odds.
Compare it with 59 other cards on the US card comparison or read how cards are valued.