The Bank of America® Premium Rewards® Credit Card is a feature filled product that offers points that can be redeemed for cash back, bank deposits, gift cards or travel reservations. It offers double points per dollar spent on dining and travel purchases and 1.5 points per dollar spent everywhere else.

For Bank of America Preferred Rewards members, this card can be especially valuable. These members receive a 25%, 50% or 75% bonus in rewards received. Depending on their status in the program, this means that they can earn 2.5 to 3.5 points per dollar spent on travel and dining purchases, and 1.87 to 2.62 points per dollar spent on all other purchases.

This card also comes with a range of travel insurance and purchase protection benefits including trip delay reimbursement, trip cancellation and interruption coverage, and lost baggage reimbursement. There’s also a benefit for baggage delays. You’re also covered by purchase security, warranty manager and return protection benefits. Other benefits include a $100 Global Entry or TSA PreCheck application fee credit (every four years), and an annual $100 in Airline Incidental Statement Credits annually that covers purchases such as seat upgrades, baggage fees, in-flight services, and airline lounge fees.

It also has a solid signup bonus and there are no foreign transaction fees in addition to a low $95 annual fee.

This card offer two points per dollar spent on all travel purchases and dining purchases and 1.5 points per dollar spent on all other eligible purchases.

Bank of America Preferred Rewards members receive a 25%, 50% or 75% bonus in rewards received. Depending on their status in the program, this means that they can earn 2.5 to 3.5 credit card rewards points per dollar spent on travel and dining purchases.

Earns bonus points for spend in the following bonus categories:

The market for premium travel rewards cards is crowded, and every major card issuer has a product with an annual fee of $95, or close to it. While not a creative name for a card in this class, the Bank of America® Premium Rewards® credit card appeals to those who want the cardholder benefits of premium card, but are happy to earn cash back rewards instead points that can be transferred to frequent flier miles or points with hotel programs.

This card earns double points on all travel and dining purchases, and 1.5 points per dollar spent everywhere else. But rather than being just travel rewards points, these points can be redeemed for one cent each as statement credits, bank deposits, gift cards or travel reservations.

So far, this is pretty similar to the no-fee Bank of America Travel Rewards card. But what makes this card “premium” are its benefits.

To start off with, you receive up to a $100 credit towards the application fees of TSA PreCheck or Global Entry, which includes PreCheck. These services are used by frequent travelers to speed themselves through the lines at the airport.

You also receive up to a $100 credit towards airline incidental fees. These are the charges for things like luggage or seat selection that everyone hates, and those who use this fee each year will completely offset this card’s $95 annual fee.

It also includes an entire range of travel insurance policies such as trip delay reimbursement, trip cancellation and interruption coverage, and lost or delayed baggage reimbursement. It even comes with emergency evacuation insurance, a feature only found on a fraction of the top credit cards with annual fees over $500.

Purchase protection and extended warranty coverage are also included.

In the end, you have a card that offers a fairly simple cash back rewards program, similar to what you would find on a no fee card. But at the same time, it has all the fee credits, travel insurance and purchase protection features you’d expect to find on a much more expensive credit card.

Anyone who travels regularly, even if not frequently, will find these benefits to be worth its modest annual fee.