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Bank of America® Premium Rewards® Elite credit card

Bank of America Points

Welcome bonus

75,000 points

≈ $750 at 1.0¢ per point

after $5,000 spend in 3 months

Annual fee$550

Value per point~1.0¢median of 3 published valuations

First-year value*$1,044easy credits counted · $714 with none

Year 2+ value*$294each year after the first, after the fee · −$36 with no credits

$550 fee vs $480 in stated credits a yearFace value. You’d use $330 by our default → yearly cost after year 1 $220 ↓

Worth ~1.0¢/pt, median of 3 published valuations

NerdWallet 1.0¢ (listed as “Bank of America Travel Rewards”)
Upgraded Points 1.0¢
AwardWallet 1.0¢ (value set manually by AwardWallet)

Range 1.0–1.0¢. No published value from The Points Guy, Bankrate, One Mile at a Time, Frequent Miler (RRV). Checked 2026-10-23. How we use these

See the offer on Bank of America’s site ↗ Run your own numbers

Data checked by Chris Manns · Last updated October 23, 2026

Source: Bank of America card page · checked October 23, 2026. *Value uses our sample profile ($31,100/yr spend, no favorite airline or hotel) and the community value of 1.0¢ per point (median of published valuations) — see method.

Credits & perks

Annual fee$550

Stated credits a year$480face value, as Bank of America states it

Face value isn’t real value. A $25-a-month credit for something you’d never buy is worth $0 to you, and most credits are use-it-or-lose-it by month, quarter or half-year. Tick only what you’d spend on anyway.

Which would you actually use?

Our assumption: the boxes ticked to start are the “easy” credits: broad, flexible or automatic (general travel credits, airline-fee credits on any airline, Global Entry/TSA, anniversary free nights). Niche or single-merchant credits start unticked. Your choices are saved in this browser and also used by the calculator.

Airline Incidental statement credits$300/yrup to $300 per year · Seat upgrades, bag fees, airline lounge fees, in-flight services; applied automatically.easy airline
Lifestyle credits$150/yrup to $150 per year · Streaming, food delivery, fitness subscriptions and rideshare.niche shopping
Global Entry / TSA PreCheck / NEXUS application fee credit$120 every 4 yrs ≈ $30/yrup to $120 once every 4 years · Pay the application fee with the card; up to $120 every four years.easy airport

Your net cost$220Yearly cost after year 1: annual fee − credits you’ll use ($330)

Year 2+ value*$294each year after the first, after the annual fee, with your ticks

First-year value*$1,044bonus + earning + credits − fee

Counts each ticked credit at 100% of face value. Global Entry/TSA counts as a quarter a year. Free nights use our point values. *At our sample profile; how credits are counted.

Perks with no stated $ value

Lounges, status, bags and similar. We don’t put a number on these unless the issuer does.

lounge Up to 4 Priority Pass Select memberships
status Avis, Hertz and National car rental status upgrades
other No foreign transaction fees

Source: Bank of America card page and benefit terms · checked 2026-10-23.

How it earns

2x Dining & takeout, Flights (booked with the airline), Hotels (booked with the hotel), Other travel, Travel booked on the card’s own travel site
1.5x everything else

Spend window is 90 days.

Offer details

75,000 points after $5,000 in 3 months

Annual fee $550. Credits from the issuer page are in Credits & perks above.

Questions about the BofA Premium Rewards Elite

What is the BofA Premium Rewards Elite welcome bonus?

75,000 points after $5,000 in 3 months, about $750 at the median published point value, per Bank of America’s card page checked October 23, 2026.

What is the BofA Premium Rewards Elite annual fee?

$550 a year, as listed on Bank of America’s page on October 23, 2026.

How much are its points worth?

About 1.0¢ each: the median of 3 published valuations (range 1.0–1.0¢), checked October 23, 2026.

What credits does the BofA Premium Rewards Elite include?

$480 a year in stated credits at face value, across 3 credits. By our default (only easy, flexible credits) you’d use $330, so the yearly cost after year 1 is $220.

Is the BofA Premium Rewards Elite worth it?

It depends on your spending. At our sample profile ($31,100 a year, easy credits only) it comes to $1,044 in the first year and $294 each year after (Year 2+ value, after the annual fee). Enter your own numbers in the calculator.

The math at our sample profile

Sample: Dining & takeout $4,800 · Groceries $7,200 · Gas & EV charging $2,400 · Flights (booked with the airline) $2,000 · Hotels (booked with the hotel) $1,500 · Other travel $1,200 · Everything else $12,000. Credits: our default “easy” ticks.

Welcome bonus: 75,000 points × 1.0¢	$750
A year of earning: 51,400 points × 1.0¢	$514
Airline Incidental statement credits	$300
Global Entry / TSA PreCheck / NEXUS application fee credit ($120 ÷ 4 yrs)	$30
Annual fee	−$550
First year / Year 2+	$1,044 / $294

Use my own spending →

Verify everything on the issuer’s site before applying; offers change and may differ for you. We don’t list APRs: see the issuer’s pricing & terms. TravelCardMath earns nothing from this card today.