Bank of America Premium Rewards Credit Card: Full Strategy, FAQs, and Smart Tips

Everything you need to unlock maximum rewards, elite perks, and top-tier travel value — all in one powerful package.

The Bank of America Premium Rewards Credit Card offers more than just points — it’s a flexible tool that rewards everyday spending and travel with significant value, especially for Preferred Rewards clients. This guide will show you exactly how to get the most from your card, answer real-world questions, and recommend strategic next moves.

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Bank of America Premium Rewards Credit Card

up tp 2x points 60,000 bonus points

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✅ Essential Strategies for Using the Premium Rewards Card

1. Qualify for Preferred Rewards

Boost your points by 25% to 75% simply by holding a Bank of America checking account and maintaining a minimum $20,000 in qualifying assets.

2. Focus Spending on Bonus Categories

Prioritize:

• Flights, hotels, car rentals (2 points per $1)
• Dining and food delivery (2 points per $1)
• Everyday expenses like groceries or gas (1.5 points per $1)

3. Redeem for High-Value Options

Best redemptions include:

• Direct deposits to BoA accounts
• Statement credits
• Travel through the Bank of America Travel Center

Points redeemed for travel or cash value your earnings at one cent per point.

4. Maximize Your $100 Travel Credit

Use the annual airline incidental statement credit for seat upgrades, baggage fees, or in-flight purchases.

5. Stack Rewards with Partner Programs

Combine your card with BoA’s Travel Deals portal or dining rewards apps for additional cashback and savings.

❓ Key FAQs Answered

1. Which purchases earn 2 points per dollar?

Travel (airfare, hotels, taxis, trains) and dining (restaurants, fast food, cafes, delivery).

2. Are points lost if I close my card?

Yes. Redeem all points before closing the account.

3. Does BoA allow point transfers to airlines?

No, point transfer to external loyalty programs is not available.

4. Is there a cap on how many points I can earn?

No, there’s no cap.

5. How quickly does the airline credit apply?

Normally within 2 to 3 billing cycles.

6. What credit score is typically required?

Applicants usually need good to excellent credit (700+ FICO).

7. Does the card have foreign transaction fees?

No — it’s completely foreign transaction fee-free.

8. Can I pool points with other BoA accounts?

No. However, multiple cards under the same login will allow consolidated reward redemptions.

9. Are travel insurance protections included?

Yes. Lost luggage, trip delay, and rental car insurance apply when using the card.

10. Is there cell phone protection?

No, this specific card does not include cell phone insurance.

💡 Pro Tips and Credit Card Optimization Hacks

• Prepay flights or annual travel expenses: Don’t wait until the last minute — use your airline credit early by prepaying for flights, baggage fees, or other eligible expenses. This ensures you maximize the benefit before it expires.
• Track your reward earnings monthly: Regularly reviewing your rewards helps you identify spending patterns and fine-tune your strategy to earn points faster and more efficiently.
• Set spending alerts through the Bank of America mobile app: Stay on top of your budget and avoid surprises by setting up custom alerts for purchases, payment due dates, and balance thresholds right from your phone.
• Use your TSA PreCheck or Global Entry benefit early: As soon as you’re eligible, apply for TSA PreCheck or Global Entry to enjoy faster, hassle-free security screenings at airports — and make the most of this valuable perk.
• Stack promotions from dining apps: Combine restaurant-specific promotions or cashback deals from dining apps with your credit card rewards to maximize your earnings on every meal.

🔁 Recommended Alternatives for Different Needs

If your spending is heavier in groceries or entertainment categories, alternatives like the Amex Gold or Autograph may offer better everyday earnings.

🏁 Final Verdict: Is the Premium Rewards Card Right for You?

For travelers, big spenders, and Bank of America loyalists, the Premium Rewards Card offers:

• Great returns on dining and travel: Earn elevated rewards when you spend on restaurants, flights, hotels, and more — making every meal and every journey even more rewarding.
• Valuable $100 airline incidental credits annually: Offset travel costs with up to $100 each year in credits for airline incidentals like seat upgrades, baggage fees, and in-flight purchases.
• Solid rewards for everyday purchases: Keep earning on the essentials too, with strong rewards on categories like groceries, gas, and other everyday expenses, helping you maximize value across all areas of spending.

Combine that with a Preferred Rewards boost and minimal redemption restrictions, and you’re looking at one of the most consistent performers among mid-range travel cards.

✈️ Pro Insight: If you spend over $3,000/month, and have Platinum Honors status, this card can deliver over $1,000 in total yearly value.

CREDIT CARD

Bank of America Premium Rewards Credit Card

up tp 2x points 60,000 bonus points

APPLY NOW You will be redirected