How to Apply for the Bank of America Premium Rewards Credit Card
Choosing the right credit card can significantly enhance your financial experience, and the Bank of America Premium Rewards Credit Card stands out as a wise option for many. Designed to deliver outstanding value, this card offers an array of benefits that cater to both frequent travelers and everyday spenders. With each purchase, you’ll earn reward points that can be redeemed for travel, cash back, or gift cards, making every transaction count. Imagine earning unlimited 2 points for every dollar you spend on dining and travel, or 1.5 points per dollar on all other purchases. Additionally, the card provides valuable travel perks such as complimentary airport lounge access and no foreign transaction fees, enhancing your journeys both near and far. Whether you’re a seasoned traveler or focused on maximizing everyday rewards, this card could be your gateway to a more rewarding financial journey.
Benefits of the Bank of America Premium Rewards Credit Card
1. Earn Reward Points on Every Purchase
The Bank of America Premium Rewards Credit Card allows you to earn points on every purchase you make. For every dollar spent, you can earn 2 points on travel and dining purchases and 1.5 points on all other purchases. This reward structure makes it easy to accumulate points that can be redeemed for a variety of rewards, such as travel credits, gift cards, or cash back. To maximize your points, consider using the card for your daily expenses, like groceries and dining out, ensuring you get the most from your spending.
2. Generous Travel Credits
Travel enthusiasts will appreciate the $100 annual travel credit that can be used toward incidental airline expenses, such as seat upgrades, baggage fees, and airport lounge access. This card also reimburses up to $100 for Global Entry or TSA PreCheck application fees once every four years. These benefits significantly reduce travel costs and make your trips more comfortable. Remember to keep track of your travel expenses to utilize these credits fully.
3. No Foreign Transaction Fees
If you frequently travel abroad, you’ll love the lack of foreign transaction fees with this card. With most credit cards charging around 3% for international transactions, this perk helps you save money when using your card overseas. It’s ideal for international travelers who want to make purchases without worrying about extra fees, allowing you to focus on enjoying your journey.
4. Enhanced Earning with Preferred Rewards
For Bank of America customers who qualify for the Preferred Rewards program, your points earnings can increase by 25% to 75% depending on your membership tier. This benefit greatly enhances the rewards program and is particularly advantageous for those who already have significant dealings with Bank of America. Ensure you maintain the necessary balance to qualify for these additional rewards.
5. Comprehensive Cardholder Benefits
Alongside these rewards, the card includes various valuable protections, including travel and emergency assistance, lost luggage reimbursement, and trip delay coverage. These benefits provide peace of mind when traveling and help reduce costs associated with unexpected delays or mishaps. Familiarize yourself with these protections to fully understand how they can benefit you in various scenarios.
GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD THROUGH THE WEBSITE
| Category | Details |
|---|---|
| Welcome Bonus | Earn a substantial bonus after meeting spending requirements, enhancing your rewards potential. |
| Rewards Program | Get unlimited 2 points on travel and dining, and 1.5 points on all other purchases, promoting everyday spending rewards. |
The Bank of America Premium Rewards Credit Card offers a remarkable welcome bonus that can significantly boost your rewards portfolio right from the start. Simply meet a minimum spending threshold within the first 90 days, and you may earn thousands of points, turning your initial expenses into a valuable reward. This can serve as a great incentive for engaging new cardholders.Additionally, the rewards program enables users to accumulate points efficiently through their everyday purchases. This card allows you to earn 2 points per dollar spent on travel and dining, which are common expenses for many. Moreover, you earn a flat 1.5 points on all other purchases, ensuring every dollar goes further toward generating future travel perks or cash back options. Each point carries the potential for redemption in various ways, making the card not only a rewards program but also a practical budgeting tool for consumers seeking to maximize their financial benefits.
Key Requirements to Apply for the Bank of America Premium Rewards Credit Card
- Minimum Credit Score: To qualify for the Bank of America Premium Rewards Credit Card, it’s typically recommended to have a good to excellent credit score, generally in the range of 670 to 850. Your credit score is a reflection of your creditworthiness, so maintaining a strong credit history is beneficial.
- Proof of Income: Applicants must provide evidence of their income, which helps the bank evaluate your ability to repay credit card debts. This can include documents like pay stubs, W-2 forms, or tax returns.
- U.S. Residency: You need to be a U.S. resident to apply for this credit card, which means having a current U.S. address and residence status.
- Identification: Valid government-issued identification, such as a passport or driver’s license, is required. This is used to verify your identity and personal information.
- Bank of America Banking Relationship: While not mandatory, having an existing relationship with Bank of America can improve your chances of approval or allow you to enjoy additional perks and rewards.
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
Begin your application process by navigating to the official Bank of America website. You can do this by typing in ‘Bank of America Premium Rewards Credit Card’ in your preferred search engine or go directly to the Bank of America home page. Once there, locate the ‘Credit Cards’ section and click on it to view the available credit card options.
Step 2: Select the Premium Rewards Credit Card
Once in the credit cards section, search for the ‘Premium Rewards Credit Card.’ You will find detailed information about the card, including its benefits, rewards, and potential fees. Read through these details to ensure it’s the right card for you. When you’re ready, click on the option to ‘Apply Now’ to start your application.
Step 3: Complete the Application Form
The application form will require you to fill in personal details such as your name, address, social security number, employment information, and income. Ensure that all your information is accurate and up-to-date, as this will affect the approval process. Take your time to fill out each section carefully.
Step 4: Review and Submit Your Application
Before submitting, review all the entered information to verify its correctness. This is crucial for preventing any delays in processing. If everything looks good, click the ‘Submit’ button to proceed with your application. At this stage, Bank of America will conduct a credit check as part of their evaluation.
Step 5: Wait for Approval
After submission, you will receive a confirmation that your application is being processed. The approval time may vary, but you can often expect to hear back within a few minutes to a few days. Upon approval, you will receive the details on how your new credit card will be sent to you and any next steps you need to take.
SIGN UP TO GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Frequently Asked Questions About the Bank of America Premium Rewards Credit Card
What are the primary benefits of the Bank of America Premium Rewards Credit Card?
The Bank of America Premium Rewards Credit Card offers a variety of benefits, including earning unlimited points with every purchase. Cardholders can earn 2 points per every dollar spent on travel and dining and 1.5 points per dollar on all other purchases. Additionally, the card provides travel protections like trip cancellation or interruption insurance, lost luggage reimbursement, and no foreign transaction fees.
Does the Bank of America Premium Rewards Credit Card have an annual fee?
Yes, the Bank of America Premium Rewards Credit Card comes with an annual fee of $95. However, the valuable rewards and benefits can offset this cost if you frequently use the card, particularly for travel and dining expenses.
Are there any travel-related credits available with this card?
Yes, cardholders can enjoy up to $100 in travel statement credits every year. This includes credits for incidental airline purchases such as seat upgrades, baggage fees, and in-flight services, making it a great option for frequent travelers.
What credit score is needed to qualify for the Bank of America Premium Rewards Credit Card?
To increase your chances of approval for the Bank of America Premium Rewards Credit Card, it is recommended to have a good to excellent credit score, typically around 700 or higher. Maintaining a good credit history and a low debt-to-income ratio can also be beneficial when applying.
How do I redeem points earned with the Bank of America Premium Rewards Credit Card?
Points earned with the Bank of America Premium Rewards Credit Card can be redeemed for a variety of options, including travel, cash back, gift cards, and more. You can redeem them through the Bank of America online portal or mobile app. Keep in mind that redemption values can vary depending on how you choose to use your points, so it’s worth exploring the options that offer the best value for your needs.
