Bank of America Premium Rewards Review 2026
Premium Rewards is worth comparing if the rewards, welcome offer, annual fee, APR, and approval fit match how you actually spend.
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Your card estimate
Net first-year value
First year
+$355
Rewards + bonus - fee - interest drag
Ongoing year
+$355
Excludes one-time welcome offer
SwitchWize take
Rewards credit card
Bonus value
See terms
Rewards
1.5x points
Annual fee
$95
APR
19.74%-27.74%
Pros & cons
No standout advantages in the data we track.
- Annual fee: $95
Derived from the current rate, fees, and terms we track for this product. Confirm the latest details on the provider’s site.
Card truth label
Terms that decide whether this card fits
Offer history
How today's bonus compares
Welcome offer needs verification
See terms
Observed Recently
12-month best
See terms
0 tracked observations
Signal
At or near tracked best
Last history update Recently
Best for
- People whose spending matches the rewards structure
- Applicants who can use the welcome offer responsibly
- Cardholders who pay in full
- People comparing net first-year value
Not for
- Carrying a balance long term
- Applying only for a bonus without a payoff plan
- Spending more to earn rewards
- Anyone who cannot meet issuer approval requirements
Decision checks
Apply only if these checks pass
$95 annual fee
19.74%-27.74% variable
Spend requirement: $4,000 in purchases in the first 90 days ($600 value)
Bank of America terms control approval, pricing, and rewards
How you earn
Caps, exclusions, merchant coding, and redemption values can change the real return. Verify issuer terms before applying.
If you carry a balance, compare payoff cost before rewards. Interest can erase rewards quickly.
The $95 annual fee needs to be offset by rewards, credits, or travel value.
Comparison set
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Before you apply
Application rules and credit check
- Who can get the welcome bonus
- Not published by the issuer on its card page.
- How many cards you can open
- Not published by the issuer on its card page.
- Credit check when you apply
- Not published by the issuer on its card page.
These are the issuer’s own words. Informal rules reported by cardholders, such as "5/24", are not shown because the issuer has not published them. Checked Nov 13, 2026.
Bottom line
Is Premium Rewards worth it?
Premium Rewards is worth comparing if the rewards, welcome offer, annual fee, APR, and approval fit match how you actually spend.
Worth it if: People whose spending matches the rewards structure
Skip it if: Carrying a balance long term