Bank of America® Premium Rewards® Elite Credit Card
Bank of America Visa Elite Pending
19
Benefits2
Reward Categories2x
Max Reward21.2%
APR FromBasic Information
PENDINGProgram ID: bank-of-america-premium-rewards-elite-credit-card
Issuer: Bank of America
Card Name: Bank of America® Premium Rewards® Elite Credit Card
Card Type: Credit
Network: Visa
Card Tier: Elite
Approved: Pending
Data Complete: Complete
Rewards Program (Detailed) 2 Categories
PENDING| Category | Rate | Type | Description | Annual Cap | Status |
|---|---|---|---|---|---|
| Travel & Dining | 2x | Points | Purchases categorized as travel and dining. | No Cap | |
| All Other Purchases | 1.5x | Points | All eligible purchases not categorized as travel or dining. | No Cap |
Rewards Summary
PENDINGReward Type: Points
Base Rate: 1.5x
Bonus Rate: 2x
Categories: Travel and Dining
Quarterly Rotating: No
Expiration Policy: Points don't expire as long as your account remains open.
Point Value: 0.01¢
Travel Portal Multiplier: 1x
Benefits & Protections (Detailed) 19 Total
PENDINGAirport Access 2
Global Entry or TSA PreCheck Application Fee Credit
Up to $100 every 4 yearsReceive a statement credit of up to $100 for the application fee for Global Entry or TSA PreCheck, available once every four years.
Priority Pass Select Membership
Unlimited access for cardholder + 2 guestsComplimentary Priority Pass Select membership providing unlimited access to a network of airport lounges worldwide for the cardholder and up to two guests per visit.
Lifestyle 2
Annual Lifestyle Convenience Statement Credit
Up to $150 annuallyReceive up to $150 in statement credits annually for qualifying lifestyle convenience purchases, such as streaming services, food delivery, ride-sharing services, and gym memberships.
Concierge Service
24/7 assistance24/7 personalized assistance for travel planning, dining reservations, event tickets, and more.
Purchase Protection 2
Purchase Protection
Up to $10,000 per claim, $50,000 per account per yearCovers eligible new purchases against damage or theft for 90 days from the date of purchase.
Extended Warranty Protection
Up to $10,000 per claim, $50,000 per account per yearExtends eligible manufacturer's warranties of three years or less by up to one additional year.
Rewards 3
Travel & Dining Rewards Earning
2 points per $1Earn 2 points for every $1 spent on eligible travel and dining purchases. Points do not expire and there is no limit to the points you can earn.
Everyday Purchases Rewards Earning
1.5 points per $1Earn 1.5 points for every $1 spent on all other purchases. Points do not expire and there is no limit to the points you can earn.
Preferred Rewards Bonus Earning
25% - 75% bonus pointsPreferred Rewards members can earn 25% to 75% more points on every purchase, depending on their tier. This bonus is applied on top of the base earning rates.
Security 1
Zero Liability Fraud Protection
Zero liabilityCardholders are not held responsible for unauthorized transactions made with their card.
Travel 4
Annual Airline Incidental Statement Credit
Up to $300 annuallyReceive up to $300 in statement credits annually for qualifying airline incidental purchases, such as seat upgrades, baggage fees, in-flight services, and lounge access.
Travel and Emergency Assistance Services
Referral servicesProvides a referral service for medical, legal, and travel emergencies while away from home. Cardholders are responsible for the cost of any services obtained.
Roadside Dispatch
Pay-per-use serviceA pay-per-use roadside assistance program that provides services like towing, tire changing, jump starting, lockout service, and fuel delivery.
No Foreign Transaction Fees
0% foreign transaction feeNo fees are charged on purchases made outside of the United States.
Travel Insurance 5
Trip Cancellation/Interruption Insurance
Up to $2,500 per person, up to $10,000 per tripReimburses non-refundable passenger fares if a trip is cancelled or interrupted for covered reasons.
Trip Delay Reimbursement
Up to $500 per ticketReimburses for essential expenses like meals and lodging when a trip is delayed by more than 6 hours or requires an overnight stay due to a covered hazard.
Baggage Delay Reimbursement
Up to $100 per day for 3 daysReimburses for the purchase of essential items when checked baggage is delayed by more than 6 hours.
Lost Luggage Reimbursement
Up to $3,000 per passengerReimburses for the replacement of lost or stolen checked or carry-on baggage and its contents.
Auto Rental Collision Damage Waiver
Secondary coverageProvides secondary coverage for damage due to collision or theft for most rental cars when the eligible rental car is charged to the card and the cardholder declines the rental company's collision damage waiver.
Benefits Summary (Flags)
PENDINGExtended Warranty
Purchase Protection
Cell Phone Protection
Travel Insurance
Primary Rental Protection
Airport Lounge Access
Trip Delay Coverage
Lost Luggage Coverage
Price Protection
Concierge Service
No Foreign Fees
ShopRunner
Global Entry Credit: $100
TSA PreCheck Credit: $85
Sign-Up Bonus
PENDING75,000
Points/MilesRequirement: Spend $5,000 in 90 days
Timing: You will receive your bonus points within 8-12 weeks after you have met the spending requirement.
Fee Structure
PENDING| Annual Fee: | $550.00 |
| Year 1 Waived: | No |
| Effective Annual Fee: | $550.00 |
| Authorized User Fee: | $0.00 |
Additional Fees
PENDING| Late Fee: | $40.00 |
| Returned Payment: | $40.00 |
| Balance Transfer: | Either $10 or 3% of the amount of each balance transfer, whichever is greater. |
| Cash Advance: | Either $10 or 3% of the amount of each cash advance, whichever is greater. |
| Foreign Transaction: | 0.00% |
Interest Rates & APR
PENDINGStandard APR
Purchase APR: 21.24% - 28.24%
Balance Transfer APR: 21.24%
Cash Advance APR: 29.99%
Intro APR Offers
Approval Criteria & Requirements
PENDINGCredit Score Requirements
Application Process
Issuer Rules & Policies
PENDINGRules: Eligibility for the Bank of America Premium Rewards Elite credit card in 2026 is expected to require excellent credit (typically FICO 740+). Applicants must adhere to Bank of America's internal velocity rules, commonly known as the 2/3/4 rule: no more than 2 new Bank of America credit cards in the past 2 months, 3 in the past 12 months, and 4 in the past 24 months. Additionally, applicants are generally not eligible for the sign-up bonus if they currently have or have had the card in the past 24 months. The sign-up bonus typically requires meeting a specified spending threshold within the initial months of account opening. While not a strict eligibility requirement for approval, maximizing the card's value (up to 75% rewards bonus) is contingent on qualifying for the Bank of America Preferred Rewards program by maintaining significant assets with Bank of America and/or Merrill.
Max Cards Per Issuer: 5
Min Spend Interval: 3 months
Cliff Effect Rules: The primary 'cliff effect' or tiering for this card is tied to the Bank of America Preferred Rewards program. Cardholders receive a bonus on their earned rewards (25%, 50%, or 75%) based on their qualifying combined balances with Bank of America and Merrill. Without Preferred Rewards status, the card's value proposition is significantly diminished, as the base rewards rate is less competitive.
Special Events: N/A
Holiday Promos: N/A
International Friendly: Yes
User Analytics & Insights
PENDINGUser Ratings
Average Rating: 3.9 / 5.0
Top Positive:
High rewards rate on travel and dining, flexible travel and lifestyle credits, no foreign transaction fees, TSA PreCheck/Global Entry credit, enhanced value for Bank of America Preferred Rewards members.
Top Negative:
High annual fee ($550), requires excellent credit, rewards structure can be complex for some users, limited premium perks compared to some competitors (e.g., restricted lounge access).
Approval Experience: 80.0 / 100
Recommended Alternatives
- Chase Sapphire Reserve
- The Platinum Card from American Express
- Capital One Venture X Rewards Credit Card
Card Value Score: 90.0 / 100
Est. Annual Rewards: $1,150.00
Approval Probability: 75.0%
Version Control
PENDINGVersion ID: v2024.05