How to Apply for the Bank of America Premium Rewards Credit Card
Enhance Your Spending Power with Bank of America Premium Rewards Credit Card
If you’ve been searching for a way to fortify your purchasing power while accumulating rewards, consider the Bank of America Premium Rewards Credit Card. This card goes beyond mere transactions, transforming each dollar spent into an opportunity to earn valuable rewards.
Earn Points with Every Purchase
With this credit card, you earn 2 points for every dollar spent on travel and dining. This means whether you book a flight to Hawaii or enjoy dinner at your favorite local restaurant, you’re benefiting from spending on what you love. For all other purchases, you receive 1.5 points per dollar, making even everyday expenses a rewarding experience. For example, your weekly grocery shopping and utility bills can contribute significantly to your rewards.
Enjoy Travel Credits and Perks
The card offers more than just points. Cardholders receive a $100 travel credit, which can be used for incidental airline purchases such as checked baggage or in-flight purchases. This feature is particularly appealing to frequent flyers, as it helps offset travel costs and enhances the overall flying experience.
Additional Benefits for Cardholders
Moreover, the card provides access to a suite of travel benefits designed to provide peace of mind. These benefits can include travel accident insurance and protection against interruptions and cancellations. Whether you’re exploring new destinations or traveling for business, these features ensure you have a safety net during your journey.
Your Path to Financial Flexibility
Understanding the application process for this card is crucial. It is the first step toward unlocking the financial flexibility and enriched experiences that come with being a cardholder. For U.S. residents looking to travel more while maximizing their finances, this credit card presents a dependable option.
The Bank of America Premium Rewards Credit Card is designed to cater to various lifestyles and spending patterns, making it a valuable tool in the financial toolkit of many Americans seeking both rewards and security.
Unlocking the Benefits of the Bank of America Premium Rewards Credit Card
Reward Points on Every Purchase
The Bank of America Premium Rewards Credit Card offers an exceptional rewards program, allowing you to earn unlimited 2 points for every $1 spent on travel and dining purchases, and 1.5 points per $1 on all other purchases. This can significantly boost your reward points balance quickly, especially if you often spend on travel and dining. To maximize this benefit, consider using this card strategically for any planned dining experiences or travel bookings.
Travel Credit and Perks
With this card, you receive up to $100 in airline incidental statement credits annually, which can be used for baggage fees, in-flight purchases, and more. Additionally, cardholders enjoy travel perks such as no foreign transaction fees and access to visa signature concierge services. To make the most out of your travel credit, plan ahead for expenses that are eligible under airline incidentals, ensuring you take full advantage of the annual credit.
Exclusive Bonuses for Bank of America Clients
If you’re a Bank of America Preferred Rewards client, you get to enjoy even more perks with this credit card. Depending on your tier, you can earn 25% to 75% more points on every purchase. This is ideal for existing clients who want to capitalize on their banking relationship to enhance their rewards. Tip: Checking to see if you qualify as a Preferred Rewards client can be well worth your time for added bonus points.
No Expiration on Points
One of the highlights of the Bank of America Premium Rewards Credit Card is that it offers points that never expire, as long as your account is open and in good standing. This provides you with the flexibility to accumulate points over time without feeling pressured to redeem them quickly. Remember to frequently review available redemption options to ensure you use your points in ways that best meet your personal or travel needs.
GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD THROUGH THE WEBSITE
| Category | Details |
|---|---|
| Rewards Program | Earn 2 points per dollar on travel and dining, 1.5 points on other purchases. |
| Sign-Up Bonus | Receive 50,000 online bonus points after making at least $3,000 in purchases in the first 90 days. |
| No Foreign Transaction Fees | Enjoy your travels without extra charges for purchases made abroad. |
| Annual Fee | A reasonable annual fee that can be offset by rewards and benefits received. |
The Bank of America Premium Rewards Credit Card stands out for its robust rewards program, offering double points on travel and dining expenses, an attractive proposition for frequent travelers and food enthusiasts alike. The generous sign-up bonus of 50,000 points after making qualifying purchases within the first 90 days adds significant value, allowing cardholders to redeem points for substantial travel rewards or cashback. Additionally, the absence of foreign transaction fees means you can explore the world without incurring extra costs, making this card an excellent travel companion. The annual fee is justified through its impressive benefits, especially for those who maximize their spending in the right categories. This blend of features ensures that cardholders can enjoy luxury without excessive expenses.
Requirements to Apply for the Bank of America Premium Rewards Credit Card
- Good to Excellent Credit Score: To apply for the Bank of America Premium Rewards Credit Card, you typically need a good to excellent credit score, usually in the range of 670 to 850. This demonstrates to the bank that you have a reliable history of managing credit responsibly.
- Proof of Income: Applicants must provide proof of income to assure the bank of their ability to pay off any outstanding balance. This could be through recent pay stubs, tax returns, or bank statements reflecting a steady income stream.
- U.S. Residency: You should be a permanent resident or citizen of the United States with a valid Social Security Number or Individual Taxpayer Identification Number (ITIN).
- Age Requirement: Applicants must be at least 18 years old. In states where the age of majority is older, such as Alabama or Nebraska, you need to meet that age requirement.
- Bank of America Account Holder (Recommended): While not mandatory, having an existing account can improve your chances of approval. Bank of America often provides relationship bonuses for current account holders.
SEE HOW TO GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
How to Apply for the Bank of America Premium Rewards Credit Card
Step 1: Visit the Bank of America Website
To begin the process of applying for the Bank of America Premium Rewards Credit Card, you’ll first need to visit the official Bank of America website. Navigate to the credit card section by selecting “Credit Cards” from the menu. Here, you will find detailed information about different credit card offerings, including the Premium Rewards Credit Card.
Step 2: Select the Premium Rewards Credit Card
After accessing the credit card section, look for the Premium Rewards Credit Card. Click on the card to access detailed information, including benefits, fees, and interest rates. Make sure this card aligns with your financial needs and goals. If you are satisfied with the card’s terms, click on the “Apply Now” button to start your application.
Step 3: Complete the Application Form
You will be directed to an online application form. Fill in your personal details, such as your name, address, Social Security number, employment information, and income. It is essential to provide accurate information to avoid delays in processing your application. Take your time to double-check all entries for accuracy.
Step 4: Review and Submit Your Application
Once you have completed the form, carefully review all the details you have entered. Ensure everything is correct and then submit your application by clicking on the “Submit” button at the bottom of the page. At this point, Bank of America will review your credit history and financial information to determine eligibility.
Step 5: Await Approval and Receive Your Card
After submission, you will typically receive a decision within a few minutes. If approved, your new Bank of America Premium Rewards Credit Card will be mailed to the address you provided. In some cases, Bank of America might request additional information, so keep an eye on your email for any updates or requests from the bank.
LEARN MORE DETAILS ABOUT BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Frequently Asked Questions About the Bank of America Premium Rewards Credit Card
What are the rewards benefits of the Bank of America Premium Rewards Credit Card?
The Bank of America Premium Rewards Credit Card offers a variety of rewards. You earn 2 points for every dollar spent on travel and dining purchases, and 1.5 points per dollar on all other purchases. If you’re an active traveler or enjoy dining out, this card can help you accumulate points quickly. These points can be redeemed for cash back, travel, or gift cards, allowing flexibility in how you use them.
Does the Bank of America Premium Rewards Credit Card have an annual fee?
Yes, this card comes with a $95 annual fee. However, considering the rewards and benefits offered, such as the sign-up bonus and the Bank of America customer relationship benefits, many find that the value easily offsets the cost of the fee.
Is there a sign-up bonus for new cardholders?
Absolutely! New cardholders can earn a 50,000 bonus points after making at least $3,000 in purchases within the first 90 days of account opening. This bonus can be redeemed for $500 in travel or cash rewards, providing an excellent starting point in collecting rewards.
Are there any travel benefits associated with this credit card?
Yes, the Bank of America Premium Rewards Credit Card offers several travel benefits. These include up to $100 in travel statement credit annually for incidental airline purchases and even TSA Pre✓® or Global Entry application fees reimbursement. You also get travel and emergency assistance services, which can be very valuable when you’re on the go.
How does being a Bank of America or Merrill customer enhance the rewards?
Being a Bank of America or Merrill customer can significantly boost your rewards through the Preferred Rewards program. Depending on your account balance, you can earn a 25% to 75% rewards bonus on every purchase. This means if you qualify for the highest tier, you could earn up to 3.5 points on travel and dining and 2.625 points on other purchases!
