How to Apply for Bank of America Premium Rewards Credit Card

If you’re considering a credit card that offers rewards on everyday spending, the Bank of America Premium Rewards Credit Card might be the perfect match for you. With its comprehensive benefits and competitive rewards scheme, it’s designed to meet the demands of savvy consumers seeking value for their spending.

The card provides unlimited 2 points for every dollar spent on travel and dining and 1.5 points for all other purchases. Moreover, cardholders can enjoy an annual $100 Airline Incidental Credit and up to $100 for Global Entry or TSA Pre✓® every four years. Such features make it a formidable option for those who travel frequently.

Furthermore, the card offers a robust online platform that simplifies managing your account and redeeming rewards, making it user-friendly. Stay ahead of your finances with the confidence that comes from a card backed by solid customer support and financial versatility, tailored for those in the United States.

Benefits of the Bank of America Premium Rewards Credit Card

Generous Reward Points

The Bank of America Premium Rewards Credit Card offers excellent reward rates, providing 2 points for every dollar spent on travel and dining, and 1.5 points for every dollar spent on all other purchases. This makes it an appealing choice for frequent travelers and those who enjoy dining out. To maximize your rewards, prioritize using the card for all travel and dining-related expenses.

Attractive Sign-Up Bonus

One of the key highlights of this card is the substantial sign-up bonus, which awards 50,000 bonus points after spending $3,000 on purchases within the first 90 days of account opening. This bonus alone can effectively cover a substantial portion of your next vacation if redeemed for travel. To fully capitalize on this offer, plan your expenses ahead of time to meet the spending requirement within the specified period.

No Foreign Transaction Fees

For cardholders who frequently travel internationally, the absence of foreign transaction fees can lead to significant savings. This benefit alone can save users approximately 3% per transaction on international purchases, which adds up over the span of even a short trip abroad. Use this card for all international spending to avoid unnecessary fees.

Travel and Purchase Protection

The card comes with a suite of travel and purchase protections that offer peace of mind during trips and on purchases. Benefits include trip delay reimbursements, lost luggage assistance, and extended warranty protection. Leverage these protections by understanding the claims process to ensure you are adequately covered when issues arise.

Preferred Rewards Program

Cardholders who qualify for the Bank of America Preferred Rewards program can enjoy additional benefits, including a 25%-75% rewards bonus on every purchase. This program can significantly boost your point earnings rate, making it a compelling reason to maintain a relationship with Bank of America across multiple financial products.

LEARN MORE DETAILS ABOUT BANK OF AMERICA PREMIUM REWARDS CREDIT CARD

The Bank of America Premium Rewards Credit Card offers a wealth of benefits tailored for those who enjoy rewards while managing essential expenses. With its competitive earning potential, this card is perfect for frequent travelers and everyday spenders alike.One of the standout features of the Premium Rewards Credit Card is its generous reward points structure. Cardholders earn 2 points per dollar on travel and dining purchases, as well as 1.5 points on every other purchase. This tiered rewards system allows users to accumulate points quickly, rewarding them for their everyday spending and travel expenditures alike.In addition to its robust rewards program, the card comes with an annual fee waiver for the first year, greatly enhancing its appeal to potential users. After the first year, the $95 fee can be considered an investment, particularly when the cardholder takes advantage of the various perks that accompany ownership. Furthermore, customers receive a notable welcome bonus when they meet the spending threshold within the first 90 days, which can substantially boost their rewards balance.Additionally, the Premium Rewards Credit Card includes an array of travel benefits, such as no foreign transaction fees, lost luggage reimbursement, and travel accident insurance, making it an advantageous option for international travelers. This comprehensive package allows cardholders to travel with peace of mind, knowing they are protected on their journeys.Furthermore, cardholders gain access to Bank of America’s travel assistance services, which provide 24/7 emergency assistance while traveling. Whether it involves legal referrals or help with lost travel documents, this service ensures that cardholders can navigate emergencies efficiently.Overall, the Bank of America Premium Rewards Credit Card stands out in the market for those seeking a high-value credit card experience enriched with rewards, insurance, and travel benefits. Its features not only cater to everyday purchases but also elevate the travel experience, enticing potential customers to consider applying for this premium offering.

Requirements to Apply for Bank of America Premium Rewards Credit Card

• Minimum Credit Score: To increase your chances of approval, a good to excellent credit score, generally around 700 or higher, is recommended. This indicates to the issuer that you are a low-risk applicant.
• Stable Income: While there is no officially published minimum income requirement by Bank of America, demonstrating a stable and sufficient income stream can significantly improve your approval odds.
• Debt-to-Income Ratio: A reasonable debt-to-income ratio is important, as it shows the issuer your ability to manage additional credit responsibly. Ideally, your DTI ratio should be below 43%.
• U.S. Citizenship or Permanent Residency: As this credit card is based in the United States, applicants should either be U.S. citizens or have legal residency status within the country.
• Valid Social Security Number: A Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) is required to apply, as it aids in identity verification and credit assessment.

LEARN MORE DETAILS ABOUT 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

Start the application process by navigating to the official Bank of America website. In the main menu, locate the ‘Credit Cards’ section. Here, you will find an array of credit card options. Select the ‘Premium Rewards Credit Card’ to proceed. This card offers a plethora of benefits including travel rewards and cashback options, making it an attractive choice for frequent travelers and shoppers.

Step 2: Review Eligibility and Required Information

Before starting your application, it is crucial to review the eligibility requirements. Generally, applicants need to have a good to excellent credit score. Additionally, gather all necessary documentation such as your Social Security Number, income details, and employment information. Having these details readily available will streamline the application process.

Step 3: Complete the Online Application

Click on the ‘Apply Now’ button found on the Bank of America Premium Rewards Credit Card page. Fill out the form with accurate personal and financial details. Ensure that all information is correct to prevent any delays in processing your application. Pay close attention to the terms and conditions, as this will inform you of any fees or obligations associated with the credit card.

Step 4: Submit Your Application

After thoroughly reviewing your application for accuracy, click on the ‘Submit’ button. You will receive a confirmation on the submission of your application. Bank of America may offer a decision instantly; however, some applications might require additional time for processing. Keep an eye on your email for further communication from the bank regarding the status of your application.

Step 5: Receive Approval and Start Using Your Card

Upon approval, you will receive your Bank of America Premium Rewards Credit Card by mail. Activate the card by following the instructions provided. Once activated, you can start enjoying the various rewards and benefits that this premium credit card offers, such as enhanced travel points and cashback.

GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD THROUGH THE WEBSITE

Frequently Asked Questions about the Bank of America Premium Rewards Credit Card

What are the main benefits of the Bank of America Premium Rewards Credit Card?

The Bank of America Premium Rewards Credit Card offers extensive rewards and benefits. Cardholders earn 2 points per dollar spent on travel and dining purchases and 1.5 points per dollar on all other purchases. Additionally, the card provides up to $100 in airline incidental statement credits annually and up to $100 credit for TSA PreCheck or Global Entry every four years. It also includes travel and purchase protections, making it a comprehensive option for frequent travelers.

What is the annual fee for the Bank of America Premium Rewards Credit Card, and is it worth it?

The card has an annual fee of $95. The value gained from travel credits, robust rewards, and additional perks often outweighs the fee, especially for those who travel frequently and can maximize their earnings and credits. Whether the fee is worth it depends on personal spending habits and how one leverages the provided benefits.

Are there any introductory offers or bonuses with this credit card?

Yes, new cardholders can earn an introductory bonus of 50,000 online bonus points after making $3,000 in purchases within the first 90 days of account opening. This bonus can significantly enhance the initial value of the card when accrued early in card membership.

Does the Bank of America Premium Rewards Credit Card charge foreign transaction fees?

No, one of the appealing features for international travelers is that this card does not charge any foreign transaction fees. This can lead to significant savings for users who frequently make purchases outside the United States, adding to the card’s travel-friendly design.

How does the rewards structure work in terms of redemption?

Points earned with the Bank of America Premium Rewards Credit Card can be redeemed for a variety of options, including cash back as a statement credit, deposits into eligible Bank of America or Merrill Lynch accounts, or travel and gift cards. The flexibility allows cardholders to tailor redemptions based on personal needs and preferences, with each point equating to about 1 cent in value, depending on the redemption method.

Linda Carter

Linda Carter is a writer and financial expert specializing in personal finance and financial planning. With extensive experience helping individuals achieve financial stability and make informed decisions, Linda shares her knowledge on the our platform. Her goal is to empower readers with practical advice and strategies for financial success.