Bank of America Premium Rewards Elite Credit Card Review

The Bank of America® Premium Rewards® Elite Credit Card has quickly become one of the most valuable premium credit cards available. With a 75,000-point welcome bonus, generous annual credits, and one-of-a-kind Priority Pass benefits, it’s a strong contender for anyone serious about maximizing travel rewards.

Welcome Bonus: 75,000 Points

New cardholders can earn 75,000 bonus points after spending $5,000 on purchases in the first 90 days. Worth $750 in statement credits. These points can be redeemed for travel, cash back, or gift cards, offering hundreds of dollars in value right from the start.

Annual Fee vs. Credits

The card does carry a $550 annual fee, but it also provides substantial value through annual credits:

• $300 Airline Incidental Credit: Can be used for fees or, as I’ve found, added to a United Airlines TravelBank, which functions like a gift card for flights.

• $150 Lifestyle Credit: Flexible for everyday expenses, such as adding $150 in Uber Cash or even covering a YMCA membership.

Since these credits reset every calendar year, new cardholders can “double dip” during their first membership year—unlocking up to $900 in total credits against a $550 fee.

Exclusive Travel Perks

One of the standout features of this card is the Priority Pass Select membership, which includes airport restaurants—something not all premium cards offer. Even more impressive, the Bank of America Premium Rewards Elite is the only card I know of that provides up to four Priority Pass memberships under one account, making it ideal for families or frequent travelers.

Why This Card Stands Out

Between the welcome bonus, the ability to double dip annual credits, and the unique multiple Priority Pass memberships, the Bank of America Premium Rewards Elite Credit Card is one of the most rewarding travel cards available today. If you have Platinum Honors status with Bank of America you can get 2.625% cashback on all your purchases and 3.5 cashback on travel and dining.

I wrote an article on the Preferred Rewards program here: https://www.mybestmoneylife.com/bank-of-america-preferred-rewards

I personally carry this card, and it has become a key part of my travel strategy. If you’re looking for a premium credit card that delivers both short-term rewards and long-term value, this one deserves serious consideration.