Bank of America · Card guide

Bank of America Premium Rewards Elite Credit Card: every recurring credit, worth $480/year

As of October 2026 · Benefits verified 2026-10-06

The math

	Amount
Countable credits per year	$480
Annual fee	$550

The countable credits ($480/yr) don't cover the $550 annual fee on perks alone — the card has to earn its keep elsewhere too.

Every credit, benefit by benefit

Benefit	Credit	Resets	Yearly value	Enrollment needed
Annual airline incidental statement credits Up to $300 in statement credits per year for airline incidental purchases: seat upgrades, baggage fees, airline lounge fees. Airfare is excluded.	$300	Yearly (calendar year)	$300/yr	No
Annual lifestyle conveniences statement credits Up to $150 in statement credits per year for lifestyle conveniences: streaming services, food delivery, fitness subscriptions, ride-hailing services.	$150	Yearly (calendar year)	$150/yr	No
Global Entry / TSA PreCheck application fee credit Up to $120 in statement credits for a Global Entry or TSA PreCheck application fee, available once every four years.	$120 (Up to $120 statement credit toward a Global Entry or TSA PreCheck application fee, charged to the card.)	Every 4 years	—	No

Reset cadence on this card: 2 yearly (calendar year).

Enrollment gotchas

1 of 4 tracked benefits on this card require enrollment before the credit works. Skip enrollment and the credit never appears.

• Must enroll for Priority Pass Select membership through Bank of America; once enrolled, the 12-month membership auto-renews.

Other perks on this card

• Priority Pass Select memberships — no fixed dollar value in our catalog (Priority Pass Select airport lounge access via up to four complimentary memberships; membership renews every 12 months.)

Sources: thepointsguy.com (2026-10-06) · nerdwallet.com (Sept 2026 best BofA cards). Benefit amounts last verified 2026-10-06. Card benefits change — confirm current terms with Bank of America before applying.