Bank of AmericaPremium Rewards
$95Bank of America or Merrill customers who can use credits
Best economics depend on relationship boost
Check current offer This link goes to Bank of America’s site. Dean earns nothing if you apply.Bank of America Premium Rewards
Annual fee $95. 2X travel and dining; 1.5X other, with potential relationship boost.
See if it fits my walletDean’s short answer
Best fit: Bank of America or Merrill customers who can use credits.
TravelRelationship rewards
This card and its closest alternatives
The 3 reviewed personal cards that share the most card types and features with the Premium Rewards.
When a link pays Dean a commission, the card says so right there. Paid or not, the ranking never changes, and no issuer sponsors or endorses Dean. Approval, rates, and terms are controlled by the card issuer.
Bank of AmericaPremium Rewards Elite
$550Bank of America Premium Rewards Elite
Annual fee: $550, against $95 for the Premium Rewards. Best fit: High-balance Bank of America or Merrill clients who use premium credits. Dean’s catalog lists it as: Premium travel, Relationship rewards, Lounge.
Read Dean’s reviewAmerican ExpressGreen Card
$150American Express Green Card
Annual fee: $150, against $95 for the Premium Rewards. Best fit: Travelers wanting broad travel and transit categories without a premium-card fee. Dean’s catalog lists it as: Travel, Transit, Dining, Transferable points.
Read Dean’s reviewWells FargoAutograph Journey
$95Wells Fargo Autograph Journey
Same annual fee: $95. Best fit: Travelers preferring direct bookings. Dean’s catalog lists it as: Travel, Transfer partners.
Read Dean’s review| Card | Annual fee | Rewards and benefit summary | Best fit | Main drawback | Source |
|---|---|---|---|---|---|
| Premium RewardsBank of America | $95 | 2X travel and dining; 1.5X other, with potential relationship boostAirline incidental and application-fee credits; travel protections | Bank of America or Merrill customers who can use credits | Best economics depend on relationship boost | Bank of America Checked 2026-07-22 |
| Premium Rewards EliteBank of America | $550 | 2X travel and dining; 1.5X other, with potential relationship boostAirline incidental and lifestyle credits; Priority Pass; application-fee credit; premium travel protections | High-balance Bank of America or Merrill clients who use premium credits | High fee and no airline transfer partners | Bank of America Checked 2026-07-22 |
| Green CardAmerican Express | $150 | 3X travel, transit, and restaurants; 1X other eligible purchasesCLEAR credit; LoungeBuddy credit; no foreign transaction fee | Travelers wanting broad travel and transit categories without a premium-card fee | Fewer premium protections and no broad lounge membership | American Express Checked 2026-07-22 |
| Autograph JourneyWells Fargo | $95 | Elevated direct hotel and airline earning plus diningAnnual airline credit; travel protections; no foreign transaction fee | Travelers preferring direct bookings | Annual fee and narrower transfer ecosystem | Wells Fargo Checked 2026-07-22 |
What it earns
2X travel and dining; 1.5X other, with potential relationship boost.
What comes with it
Airline incidental and application-fee credits; travel protections.
Dean treats these as the reasons to hold the Premium Rewards. If you would not use them, the card is worth less to you than its marketing says.
- Airline incidental and application-fee credits
- travel protections
The welcome offer
60,000 online bonus points, a $600 value, after $4,000 in purchases in the first 90 days.
Dean read this offer on Bank of America’s own page on October 24, 2026. A welcome offer is paid once. Judge the card on what it does for you in year 2.
Who can get it
Dean lists the Premium Rewards for excellent credit. It is a personal card. Availability: public national.
A listed credit range is a starting point, not an approval promise. Bank of America decides approval, your credit limit, and your rate when you apply.
The catch
Best economics depend on relationship boost.
Annual fee: $95. Dean checked the fee and terms against Bank of America on July 22, 2026. Terms can change after that date, so read the live offer before you apply.
How a fixed-value travel rewards card works
Miles or points offset travel purchases at a defined rate. Simple travel redemptions with fewer blackout concerns.
Best for: Travelers who value ease over award optimization. Watch for: Travel-only redemptions can be less flexible than cash.
How a premium travel card works
High-fee cards bundle lounge access, travel credits, status, and protections. Airport lounges, hotel programs, travel credits, concierge, insurance.
Best for: Frequent travelers who naturally use the credits. Watch for: High fees and fragmented credits create breakage.
How a rent or mortgage rewards card works
Rewards housing payments through a special payment network or card program. Earns value on a large expense that normally has a fee.
Best for: Renters or homeowners who can follow program rules. Watch for: Transaction fees, required non-housing spend, and reward caps can apply.
How a investment-linked rewards card works
Cash back deposits into a brokerage, retirement, 529, or investing app. Automatic investing and potentially strong flat rewards.
Best for: People already using the linked financial platform. Watch for: Headline value can require a specific redemption or paid membership.
How a business travel card works
Business card with points, airline, hotel, or premium travel benefits. Employee cards, travel protections, lounges, category rewards, large-spend bonuses.
Best for: Businesses with recurring travel or advertising, shipping, and software spend. Watch for: High fees and portal requirements must match real company spend.
How a relationship rewards card works
Rewards or fee value increases with qualifying deposits or investments. Higher earning, fee credits, or exclusive access.
Best for: Customers willing to consolidate assets with one institution. Watch for: Opportunity cost and balance requirements can exceed card value.
Flat rewards: how to value it
Same rate on most eligible purchases.
Conditions to check: Excluded cash-like transactions and redemption value. Best for simplicity and uncategorized spend.
Travel portal multiplier: how to value it
Higher rewards or credits for issuer-portal bookings.
Conditions to check: Portal price, cancellation rules, elite credit, and direct-booking benefits. Compare the total trip terms, not only the multiplier.
Annual travel credit: how to value it
Statement credit or instant discount for eligible travel.
Conditions to check: Calendar versus cardmember year, portal or merchant restrictions, exclusions. Value it at face value only if you would use it naturally.
Sources and scope
Check the evidence, then check the live offer.
Dean links directly to the issuer. Card terms and eligibility can change after the review date.