The trick to getting the best bang for the buck from the Bank of America® Premium Rewards® credit card is to use it for travel and dining purchases to get the higher rewards rate. Leverage those points further by enrolling in Bank of America’s Premium Rewards program and get between a 25% and 75% point bonus.
Use the Bank of America Travel Center website to book your travel to get 3 points for every $1 spent. And take full advantage of the Bank of America® Premium Rewards® credit card’s $100 yearly airline credit and the $100 credit for TSA Precheck or Global Entry enrollment fees, either of which can cover the card’s $95 annual fee.
In terms of deciding whether this card is best for you, you should consider if you can meet the minimum spending requirement to get the bonus and where you generally spend money on day-to-day purchases.
If you have big travel aspirations and want a credit card with points you can redeem directly into airline miles, you may want to take a look at a card like the Chase Sapphire Preferred® Card ($95 annual fee), which will offer you many more options.
However, if you primarily travel in economy and have little flexibility with your dates, then a card that lets you use your points like cash for travel, the Bank of America® Premium Rewards® credit card will do the trick.