I think of it as a stress-free travel card. It might not have the most lucrative points or numerous transfer partners, but what it does offer is simplicity. The Premium Rewards credit card has a wide appeal to both points fans and credit card novices. Want more credit card news and advice from TPG? Sign up for our daily newsletter. Still, it offers great flexibility in redeeming points and can produce outstanding earning rates if you can maximize Bank of America's Preferred Rewards banking program. Instead, this card has a lower $95 annual fee and a more modest selection of benefits. This card isn't like other products that have annual fees in the $400-$500 range plus a ton of perks. Now that I have a better understanding of the Preferred Rewards banking program (and I know more about the value of fixed-rate rewards currencies), the more I see the benefits of having a Bank of America credit card. The rewards earned also don't transfer to airline or hotel programs. Many have low or nonexistent annual fees, but they tend to lack the perks that I've always associated with my favorite cards. It took me awhile to appreciate the value in Bank of America's credit card offerings. Card rating*: ⭐⭐⭐½ * Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer. For those who prefer other banks, there are better-earning travel cards available. If you qualify for Bank of America Preferred Rewards, the Bank of America® Premium Rewards® credit card has the potential to be quite a lucrative card to use on everyday spending. Bank of America® Premium Rewards® credit card overview
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