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Credit card · Bank of America
Last verified June 3, 2026

Bank of America Premium Rewards

60,000 points (worth $600 at 1¢ each) after $5,000 spend in 90 days. The killer feature is BofA's Preferred Rewards program — if you hold $100K+ across BofA/Merrill, earn rates jump 25–75%. A separate Premium Rewards Elite card offers 75,000 points but carries a $550 annual fee.

The deal

Spend $5,000 in the first 90 days

Bonus value history

$0 $300 $600 September 1, 2017 · $500 January 1, 2024 · $500 June 3, 2026 · $600 201820192020202120222023202420252026

Past values are estimates compiled from issuer announcements and public records; points are converted to USD at the card’s current valuation. Our methodology →

The walkthrough

  1. 01 Apply via the BofA website or a branch.
  2. 02 Spend $5,000 across groceries, travel, and dining within 90 days.
  3. 03 If you have a Merrill brokerage or BofA savings, move funds to qualify for Preferred Rewards Platinum/Honors tier.
  4. 04 Redeem for travel via the portal or statement credit at 1¢/point.

What to watch for

  • ! The $95 annual fee is NOT waived year one. Without Preferred Rewards status, the math is break-even.
  • ! Point values are fixed at 1¢ — no transfer partners, no high-value redemptions.
Editorial note

Offers change frequently. BonusPrimer verifies every bonus monthly, but before you apply, confirm the current terms directly with the issuer. We are not a bank and do not decide approvals. Our methodology →