Bank of America® Premium Rewards® Elite Rewards Calculator
On a typical $2,400/month spending mix, the Bank of America® Premium Rewards® Elite earns about $576 a year — an effective 2% back. Its annual fee is $550.
Light spender — $1,200/month
| Category | Monthly spend | Rate | Per year |
|---|---|---|---|
| Groceries | $220 | 2x | $53 |
| Dining | $140 | 2x | $34 |
| Travel | $70 | 2x | $17 |
| Gas & transit | $100 | 2x | $24 |
| Online shopping | $120 | 2x | $29 |
| Streaming | $20 | 2x | $5 |
| Everything else | $530 | 2x | $127 |
| Total | $1,200 | 2% | $288 |
Typical spender — $2,400/month
| Category | Monthly spend | Rate | Per year |
|---|---|---|---|
| Groceries | $430 | 2x | $103 |
| Dining | $290 | 2x | $70 |
| Travel | $140 | 2x | $34 |
| Gas & transit | $190 | 2x | $46 |
| Online shopping | $240 | 2x | $58 |
| Streaming | $50 | 2x | $12 |
| Everything else | $1,060 | 2x | $254 |
| Total | $2,400 | 2% | $576 |
Heavy spender — $4,500/month
| Category | Monthly spend | Rate | Per year |
|---|---|---|---|
| Groceries | $810 | 2x | $194 |
| Dining | $540 | 2x | $130 |
| Travel | $270 | 2x | $65 |
| Gas & transit | $360 | 2x | $86 |
| Online shopping | $450 | 2x | $108 |
| Streaming | $90 | 2x | $22 |
| Everything else | $1,980 | 2x | $475 |
| Total | $4,500 | 2% | $1,080 |
First-year value
$576 rewards + $750 welcome bonus (75,000 points, as of July 2026) − $550 fee = $776
Wondering if the $550 fee pays for itself? See the breakeven math.
Try your own numbers
$430
$290
$140
$190
$240
$50
$1060
$2,400/mo → $576/yr with the Bank of America® Premium Rewards® Elite (2% back)
How it stacks up in premium
- Bank of America® Premium Rewards® Elite: $576/yr
- Hilton Honors American Express Aspire Card : $1,070/yr on the same spending
- Marriott Bonvoy Brilliant American Express Card : $628/yr on the same spending
- Citi Strata Elite℠ Card : $589/yr on the same spending
Source: 67.credit, “Bank of America® Premium Rewards® Elite Rewards Calculator”, rates verified 2026-05-12 — 67.credit/card/bank-of-america-premium-rewards-elite/calculator