Bank of America® Premium Rewards® Elite Credit Card
Basic Information
Program ID: bank-of-america-premium-rewards-elite-credit-card
Issuer: Bank of America
Card Type: Credit
Network: Visa
Card Tier: Elite
Data Complete: Yes
Created: 01/07/2026 08:11
Last Scraped: 01/15/2026 06:08
Fee Structure
| Annual Fee: | $550.00 |
| Year 1 Waived: | No |
| Effective Annual Fee: | $100.00 |
| Authorized User Fee: | $0.00 |
| Penalty APR: | 30.00% |
Additional Fees
| Late Fee: | $40.00 |
| Returned Payment: | $40.00 |
| Balance Transfer: | Either $5 or 3% of the amount of each transfer, whichever is greater. |
| Cash Advance: | Either $10 or 5% of the amount of each cash advance, whichever is greater. |
| Foreign Transaction: | 0.00% |
Interest Rates
Purchase APR Range: 2,124.00% - 2,924.00%
Intro Purchase APR: 0.00%
Intro APR Duration: 0 months
Balance Transfer APR: 2,124.00%
Intro BT APR: 0.00%
Intro BT Duration: 0 months
Cash Advance APR: 2,999.00%
Sign-Up Bonus
Bonus Amount: $75,000.00
Spending Requirement: $5,000.00
Time Period: 90 days
Bonus Timing: Bonus points are typically awarded within 8-12 weeks after you meet the spending requirement. However, they often post much sooner, sometimes within a few business days after the statement cycle closes in which the requirement was met.
Rewards Program
Reward Type: Points
Base Reward Rate: 1.50%
Bonus Reward Rate: 2.00%
Bonus Categories: 2x Travel, 2x Dining
Point Value Estimate: 0.0100 cents/point
Expiration Policy: Points do not expire as long as account is active.
Transfer Partners: None
Card Benefits
Protection Benefits
- Extended Warranty
- Purchase Protection
Travel Benefits
- Travel Insurance
- Primary Rental Protection
- Trip Delay Coverage
- Lost Luggage Coverage
- No Foreign Transaction Fees
Premium Benefits
- Airport Lounge Access
- Concierge Service
- Global Entry Credit: $100.00
- TSA PreCheck Credit: $100.00
Approval Criteria
Recommended FICO Range: 740 - 850
Approval Odds Category: Excellent
Pre-qualification Available
Soft Pull Supported
Hard Pull Bureau: Experian
Issuer Rules
Rules: For 2026, the Bank of America Premium Rewards Elite Credit Card typically offers a substantial welcome bonus, contingent upon meeting a specified spending threshold within the initial months of account opening. Specific bonus offers are subject to change annually and may vary by application channel. Eligibility requirements generally include a strong credit history (good to excellent credit score, typically 700+), sufficient income, and a stable financial profile. An existing banking relationship with Bank of America, particularly Preferred Rewards status, can significantly enhance approval odds and unlock additional card benefits. Bank of America is known for its strict application rules, which are expected to remain in place for 2026: 1. **BoA 2/3/4 Rule (Bank of America Cards)**: Applicants are generally limited to receiving approval for no more than 2 Bank of America credit cards in the past 2 months, 3 Bank of America credit cards in the past 12 months, and 4 Bank of America credit cards in the past 24 months. This rule is specific to new Bank of America credit card accounts. 2. **BoA 2/24 Rule (Bank of America Cards)**: A more general rule often cited, stating no more than 2 new Bank of America credit cards in the past 24 months. The 2/3/4 rule supersedes this by being more granular and restrictive. 3. **BoA 3/12 Rule (Total New Accounts)**: For non-Preferred Rewards members, approval is typically denied if you have opened 3 or more new credit card accounts (from any issuer) in the past 12 months. 4. **BoA 7/12 Rule (Total New Accounts)**: For Preferred Rewards members, this limit is relaxed to 7 or more new credit card accounts (from any issuer) in the past 12 months. These rules are designed to prevent rapid card accumulation and are strictly enforced.
Maximum Cards Per Issuer: 5
Minimum Spend Interval: 3 months
Shutdown Risk Triggers: Manufactured spending (MS) activities, high cumulative credit limit across Bank of America accounts, frequent balance transfers without organic spend, repeated late payments, suspicious spending patterns, rapid application for multiple cards violating issuer rules, or a history of opening and closing accounts quickly to churn bonuses.
International Friendly
User Analytics & Insights
User Ratings
Average Rating: 4.0 / 5.0
Top Positive Feedback:
Excellent rewards on travel and dining, valuable annual travel and lifestyle credits, Priority Pass Select membership, no foreign transaction fees, and enhanced benefits for Bank of America Preferred Rewards members.
Top Negative Feedback:
High annual fee, complex value proposition without Preferred Rewards, and lacks transfer partners compared to some competitor premium travel cards.
Approval Experience Score: 80.0 / 100
Recommended Alternatives
- Chase Sapphire Reserve
- The Platinum Card from American Express
- Capital One Venture X Rewards Credit Card
Card Value Score: 85.0 / 100
Est. Annual Rewards: $1,300.00
User Portfolio Metrics
Avg Portfolio Size: 4 cards
Avg Portfolio Age: 120 months
Store vs Co-brand: 100% General / 0% Store
Risk Assessment
Default Risk Group: Low
Predicted Approval Probability: 85.0%
Terms Version Control
Version ID: v1.0