Bank of America · Flexible points · Visa

Bank of America Premium Rewards: what it's really worth

The Bank of America Premium Rewards has a $95 annual fee. For a typical household spending $2,070 a month, it's worth about $981 in year one and $381 each year after.

Annual fee$95

Sign-up bonus$60060,000 points after $4,000 in 3 mo

Net value · year 1$981

Net value · each year after$381

Calculate it with your own spending

Is the annual fee worth it?

Probably not worth the fee after year one for typical spending: the no-fee Hilton Honors Card would net about $124 a year more. It can still make sense if you spend more in its bonus categories or use more of its credits.

How you earn

Category	Rate	Value per $1	Per year*
Dining	2x	2.0¢	$72
Groceries	1.5x	1.5¢	$90
Hotels	2x	2.0¢	$19
Flights	2x	2.0¢	$24
Gas	1.5x	1.5¢	$27
Streaming	1.5x	1.5¢	$7
Everything else	1.5x	1.5¢	$162

*At typical monthly spending: dining $300, groceries $500, hotels $80, flights $100, gas $150, streaming $40, everything else $900. Bank of America Preferred Rewards members earn 25–75% more points.

Credits and perks

$100 airline incidental credit — Seat upgrades, bag fees and in-flight purchases. We count about $75 a year, since most people don't use every dollar.
Global Entry / TSA PreCheck credit
Foreign transaction fee: none

Who it's for

1.5x on everything plus 2x travel and dining
Bank of America customers — Preferred Rewards boosts earnings
Not ideal: Transferring points to airlines — it has no transfer partners

Can I get it?

Recommended credit: Good
Bank of America rules: Often limits new cards to about 2 in 2 months, 3 in 12 months and 4 in 24 months. The bonus may be unavailable if you've had this card in the last 24 months.
Visa: Accepted almost everywhere, including Costco warehouses (Visa only).

Check the current offer at Bank of America

Updated Oct 30, 2026.