We are an independent publisher. Our reporters create honest, accurate, and objective content to help you make decisions. To support our work, we are paid for providing advertising services. Many, but not all, of the offers and clickable hyperlinks (such as a “Next” button) that appear on this site are from companies that compensate us. The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear. While we strive to provide a wide range of offers, our site does not include information about every product or service that may be available to you. We strive to keep our information accurate and up-to-date, but some information may not be current. So, your actual offer terms from an advertiser may be different than the offer terms on this site. And the advertised offers may be subject to additional terms and conditions of the advertiser. All information is presented without any warranty or guarantee to you.

This page may include: credit card ads that we may be paid for (“advertiser listing”); and general information about credit card products (“editorial content”). Many, but not all, of the offers and clickable hyperlinks (such as a “Apply Now” button or “Learn More” button) that appear on this site are from companies that compensate us. When you click on that hyperlink or button, you may be directed to the credit card issuer’s website where you can review the terms and conditions for your selected offer. Each advertiser is responsible for the accuracy and availability of its ad offer details, but we attempt to verify those offer details. We have partnerships with advertisers such as Brex, Capital One, Chase, Citi, Wells Fargo and Discover. We also include editorial content to educate consumers about financial products and services. Some of that content may also contain ads, including links to advertisers’ sites, and we may be paid on those ads or links.

For more information, please see How we make money.

Now Available: New “Premium” Bank of America Credit Card (Full Details!)

  • Million Mile Secrets

    • Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full advertising policy: How we make money.

    A couple of months ago, I told you about a rumored premium credit card from Bank of America.

    Via The Points Guy, the card offer is now live!  And the rumors about the card’s features were true.  So if you were excited to apply for this card, now’s your chance!

    The Bank of America Premium Rewards Credit Card Sign-Up Bonus Is Worth $500 in Travel or Cash Back

    Emily and I don’t earn a commission on this card, but we’ll always keep you informed of new deals!

    New Bank of America Premium Rewards credit card

    Link:   Bank of America®️ Premium Rewards®️ credit card

    Link:   New Premium Travel Rewards Card From Bank of America Arriving This Fall!

    The new Bank of America Premium Rewards comes with a 50,000 point sign-up bonus after spending $3,000 on purchases within the first 90 days of account opening.  It also comes with:

    The points you earn are worth 1 cent each.  You can redeem them for:

    You’ll need to redeem at least 2,500 points ($25) at a time.

    And because you receive the annual airline incidentals credit each calendar year, you’ll receive it TWICE before your 2nd annual fee is due.  So you’ll receive the credit once when opening the card, and again in 2018.  That means you’ll get a value of $605 for opening this card after you pay the annual fee ($500 sign-up bonus + $100 airline incidental credit in 2017 + $100 airline incidental credit in 2018 – $95 annual fee).

    Is This Card Worth It?

    This card was rumored to compete with top-notch credit cards like the Chase Sapphire Reserve and Citi Prestige.  And while it does have some nice benefits, like a $100 airline incidental credit and Global Entry reimbursement, it definitely falls short.

    For example, the Bank of America Premium Rewards does NOT grant you access to Priority Pass airport lounges.  It also earns points that are worth just 1 cent each (less than both the Chase Sapphire Reserve and Citi Prestige when you redeem for certain travel).  And you can NOT transfer points to valuable airline and hotel partners to increase the value of your points.

    Transfer Citi ThankYou Points to Flying Blue for Discounted Awards to Europe

    That said, there are plenty of reasons to get this card.  Its $95 annual fee is MUCH less than these other premium cards.  The annual $100 airline incidental credit, which you can use for things like checked baggage fees, in-flight entertainment, and in-flight food, more than makes up for it.

    And if you’re a part of the Bank of America Preferred Rewards Program, you’ll get an improved earning rate with your card.  Based on the amount of money you have in your Bank of America account, or have invested with Bank of America or Merrill Lynch, you’ll earn:

    So you could potentially earn 3.5 points per $1 on travel and dining, and 2.625 points per $1 on everything else (1.5 points for regular spending X 75% bonus for being Preferred Rewards Platinum member).  That’s pretty great for non-bonus spending!

    Note:   This is NOT a good card for folks new to miles & points.  Because applying for this card will affect your chances of being approved for other cards that offer bigger sign-up bonuses and earn more flexible points.

    Bottom Line

    With the new Bank of America®️ Premium Rewards®️ credit card, you’ll earn 50,000 point sign-up bonus after spending $3,000 0n purchases within the first 90 days of account opening.

    The card also earns 2X points on travel and dining.  And comes with perks like Global Entry reimbursement and a $100 annual airline incidental credit.

    This could be a great card for folks who are over Chase’s “5/24 rule”, or who are looking for a card with good benefits and points that are easy to redeem!

    We don’t earn a commission on this card, but we’ll always give you all your options!

    Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)