Bank of America Premium Rewards Elite Credit Card Review: 75,000 Bonus Points and $570 in Travel & Lifestyle Credits

The Bank of America Premium Rewards Elite Credit Card is a premium travel card with strong value for high spenders and Preferred Rewards members.

It offers 75,000 bonus points (worth $750) after spending $5,000 in the first 90 days, and up to $570 annually in statement credits.

You’ll earn 2x points on travel and dining, and 1.5x on all other purchases. The $550 annual fee is offset by generous perks, including lounge access, travel credits, and a 20% flight discount when redeeming with points.

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Marriott Bonvoy Bevy™ American Express^®Card

No spending requirement

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Rates& Fees
(Terms Apply)

Private: Earn 60,000 bonus HawaiianMiles after spending $2,000 within the first 90 days.

Annual Fee

$99

Approx Benefits

$750

Welcome Bonus Earn 60,000 Bonus Miles + 50% Companion Discount

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Highlights Earning Rates

• 60,000 bonus HawaiianMiles after $2,000 spend in first 90 days²

• Two free checked bags on eligible Hawaiian Airlines flights³

• One-time 50% off companion discount²

• Earn 3x miles on Hawaiian Airlines purchases²

• Earn 2x miles on gas, dining, and eligible grocery store purchases²

• Earn 1x miles on all other purchases²

• 0% intro APR for 15 months on balance transfers made within 45 days of account opening (then 20.24%–29.99% variable APR)¹

• No foreign transaction fees¹

• Share miles with friends and family with no fee²

• 3x miles on eligible Hawaiian Airlines purchases.

• 2x miles on gas, dining, and eligible grocery store purchases.​

• 1x mile on all other purchases.

Card Details

The Good

• 75,000 bonus points after $5,000 spend in 90 days
• Up to $300 airline incidental credit per year
• $150 annual lifestyle credit (streaming, delivery, fitness, rideshare)
• $120 Global Entry or TSA PreCheck credit every 4 years

The Bad

• $550 annual fee
• Credits require specific qualifying purchases
• Most value tied to Preferred Rewards status
• No hotel or airline transfer partners

Our Take

The Premium Rewards Elite card is ideal for Bank of America customers who qualify for Preferred Rewards. The 75,000-point bonus and annual credits help justify the $550 annual fee. If you travel frequently and value perks like lounge access, TSA PreCheck, and flexible redemptions, this card delivers. Without Preferred Rewards, the value may not stack up as well—but for the right user, it’s a powerful premium option.