Bank of America Premium Rewards

Annual fee: $95
Earns: Bank of America points
Point value: 1 CPP

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Welcome offer

Current offer

Earn 60,000 Bank of America points after you spend $4,000 in 3 months

≈ $600 at 1 CPP

Earning rates

Category	Earns	Return
Travel	2x	2%
Dining	2x	2%
Groceries	1.5x	1.5%
Gas	1.5x	1.5%
Everything else	1.5x	1.5%

Return is what each $1 of spend is worth with points valued at 1 CPP.

Application rules

Counts toward 5/24
Opening it takes one of your Chase 5/24 slots.
24 month rule
Bank of America may not approve you for this card if you have it now or have had it in the past 24 months, and a card you converted from another product doesn't earn the welcome bonus.
Application velocity
Bank of America generally approves no more than 2 new personal cards from it in 2 months, 3 in 12 months and 4 in 24 months.
Banking relationship
BofA Rewards members (anyone with an eligible Bank of America checking account) earn 10% to 75% more on this card, depending on their balances. Bank of America is also more likely to approve you if you bank with it.

Product changes

Upgrade to Premium Rewards Elite · Cardholders report Bank of America allowing a switch to the Elite. You won't get a welcome bonus by switching.
Downgrade to Travel Rewards · A no-annual-fee card that keeps your Bank of America points.
Downgrade to Customized Cash Rewards · Bank of America offers this no-fee card when you ask to drop the annual fee. Redeem your points first.
Downgrade to Unlimited Cash Rewards · A no-fee cash back card you can switch to. Redeem your points first.

About the Bank of America Premium Rewards

The Bank of America Premium Rewards is a personal Visa card from Bank of America with a $95 annual fee that earns Bank of America points. It earns 2x on travel, 2x on dining and 1.5x on everything else. The current welcome offer: earn 60,000 Bank of America points after you spend $4,000 in 3 months. AwardHack values Bank of America points at 1 CPP.