Current Welcome Bonus & Value
As of June 2026, the Bank of America® Premium Rewards® credit card offers a welcome bonus of 60,000 points. These points are redeemable for one cent each, meaning the bonus is worth $600 cash back.
Minimum Spend to Earn It
To qualify for the 60,000-point welcome bonus, you must spend $4,000 on purchases within 90 days of opening your account.
Who's Eligible? (Application Rules)
Bank of America has specific rules regarding eligibility for new credit cards and welcome bonuses:
- 24-Month Bonus Rule: You are not eligible for this bonus if you have received a welcome bonus for the Bank of America® Premium Rewards® credit card within the last 24 months. Additionally, the bonus is not available if you currently have this card.
- Bank of America's Internal Rules (BofA 2/3/4): Bank of America generally limits new card approvals. While not a hard rule, applicants are often denied if they have opened approximately:
- 2 Bank of America cards in the last 2 months
- 3 Bank of America cards in the last 12 months
- 4 Bank of America cards in the last 24 months
- Bank of America's 3/12 Rule: This rule suggests that Bank of America may deny applications if you have opened approximately 3 new credit cards (from any issuer) within the last 12 months.
- Credit Score: While Bank of America does not publish a specific minimum credit score, applicants generally need good to excellent credit for approval.
Is It Worth It? (Pros/Cons)
Considering the welcome bonus and card features, here's a breakdown of its value for churners:
Pros:
- Solid Cash Bonus: A $600 cash back bonus is a strong return, especially for a card with a $95 annual fee.
- No Foreign Transaction Fees: This is a valuable perk for international travelers, saving 2-3% on purchases made abroad.
- Simple Redemption: Points are straightforward, redeeming at a fixed value of one cent each for cash back.
Cons:
- Annual Fee: The card carries a $95 annual fee, which must be factored into the overall value of the bonus.
- Relatively High Minimum Spend: A $4,000 spend requirement in 90 days can be challenging for some, requiring careful planning.
- Strict Application Rules: Bank of America's various application rules (24-month bonus, 2/3/4, 3/12) can make it difficult for active churners to get approved.
How to Apply
To apply for the Bank of America® Premium Rewards® credit card, visit the Bank of America website. Ensure you review all terms and conditions and confirm your eligibility before submitting your application.
Alternatives
If the Bank of America® Premium Rewards® credit card isn't the right fit, or if you're looking for other options, consider these related cards:
- Spirit ‘Free Spirit’ Credit Card
- Atmos Rewards Summit Visa Infinite Card
- Royal ONE™
- Travel Rewards Credit Card
- Premium Rewards Elite Credit Card