How to Apply for Bank of America Premium Rewards Credit Card
Looking for a credit card that offers both flexibility and rewards? The Bank of America Premium Rewards Credit Card could be your next financial ally. With this card, every purchase brings you closer to substantial benefits, whether you’re shopping online or booking your next getaway. Imagine earning unlimited 2 points for every dollar spent on travel and dining, and 1.5 points on all other purchases. These points can quickly add up, offering a range of redemption options to fit your lifestyle.
But what truly sets this card apart is its user-friendly perks. Enjoy up to $100 in airline incidental statement credits annually and an application fee credit for Global Entry or TSA Pre✓®. Whether you’re a frequent flyer or an occasional traveler, these features can enhance your travel experience. In the next sections, we’ll guide you through the straightforward steps for applying, ensuring you have all the information needed for a successful application.
Benefits of the Bank of America Premium Rewards Credit Card
Earn Unlimited Flexible Rewards
With the Bank of America Premium Rewards Credit Card, you can earn unlimited 2 points for every dollar spent on travel and dining. For all other purchases, you’ll earn 1.5 points for every dollar. Whether you’re planning a luxury vacation or dining at your favorite restaurant, this card makes every dollar work harder for you.
Maximize your rewards by using the card for all your travel and dining expenses. Consider setting it as your default payment option for meal deliveries and travel bookings to ensure you earn points consistently.
Valuable Travel Benefits
The card offers up to $100 in airline incidental statement credits annually for qualifying purchases such as baggage fees or in-flight services. Additionally, you’ll enjoy travel protections like trip cancellation coverage and lost luggage reimbursement. These benefits can significantly reduce the stress and cost of unexpected travel expenses.
For frequent travelers, always charge these incidental expenses to your card to take full advantage of the $100 credit and keep an eye on your statements to ensure credits are applied.
Exclusive Rewards for Bank of America Customers
If you’re a Bank of America Preferred Rewards client, you can earn a bonus of 25% to 75% on every purchase, depending on your tier level. This multiplier makes a substantial difference in the number of points you can accumulate, especially if you maintain significant assets with Bank of America.
To leverage this, consider consolidating your checking, savings, and investment accounts with Bank of America to qualify for the Preferred Rewards program.
No Foreign Transaction Fees
For those who frequently travel internationally, this card charges no foreign transaction fees. This means you can use your card abroad just as you would at home, without worrying about the extra costs that typically accompany foreign transactions.
When traveling, prefer using your card over cash for purchases abroad to avoid unnecessary conversion fees and take advantage of this substantial saving.
LEARN MORE DETAILS ABOUT BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
| Category | Advantages |
|---|---|
| Rewards Program | Earn 2 points per dollar on travel and dining. |
| Sign-Up Bonus | Receive a substantial bonus after qualifying purchases. |
| No Annual Fee in First Year | Enjoy your first year without annual fees. |
| Flexible Redemption | Points can be used for travel, cash back, and more. |
The Bank of America Premium Rewards Credit Card is designed for those who value earning rewards on their purchases. With its enticing rewards program, cardholders benefit from 2 points per dollar spent on travel and dining, making it an attractive option for frequent travelers. Based on your spending habits, you can quickly accumulate points, especially if you dine out often or travel frequently for business or pleasure.Another significant advantage of this card is its generous sign-up bonus. New cardholders can earn a substantial reward by making qualifying purchases in the first few months, which can provide extra value right from the start. Moreover, the first-year fee waiver eliminates the initial cost, easing your entry into using the card for everyday expenses.What truly sets this card apart is the flexibility offered in redeeming points. Whether you prefer travel perks, cashback, or gift cards, the Premium Rewards Credit Card allows you to choose your path of rewards. This adaptability is a significant draw for many consumers who want a credit card that aligns with their lifestyle and spending habits.
Requirements to Apply for the Bank of America Premium Rewards Credit Card
- Minimum Credit Score: To be eligible for the Bank of America Premium Rewards Credit Card, applicants typically need a credit score of 700 or higher. A good credit score indicates reliability to lenders, showing that you’ve handled credit well in the past.
- Income Verification: While there is no specified minimum income requirement, you must prove a stable income source to indicate your ability to repay the credit card balance. This can be shown through pay stubs, tax returns, or financial statements.
- U.S. Residency: As this credit card is offered in the United States, prospective cardholders must be residents or citizens of the U.S.. This requirement ensures that the credit card provider can effectively manage and maintain the account.
- Age Requirement: Applicants must be at least 18 years old to apply. This is a standard legal age requirement for entering into credit agreements.
- Bank of America Account Holders: While not mandatory, having an existing relationship with Bank of America, such as a savings or checking account, may enhance your application chances, as it demonstrates loyalty to the bank.
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
To start your application for the Bank of America Premium Rewards Credit Card, you’ll need to visit their official website. Open your web browser and go to Bank of America’s Credit Card Page. This is where you’ll find detailed information about the card’s benefits, interest rates, and other terms. Take a moment to review this information to ensure it’s the right choice for you.
Step 2: Prepare Your Personal Information
Before beginning your application, gather all necessary personal information. You will need to provide details such as your social security number, employment information, annual income, and contact information. Having this information readily available will make the online application process quicker and more efficient.
Step 3: Initiate the Online Application
Once you’re ready, click on the “Apply Now” button typically located on the product page. You’ll be directed to the application form where you’ll input the required details. Follow the prompts carefully, making sure that all information is accurate to avoid any delays or issues in processing your application.
Step 4: Review Your Application
After completing the application form, it’s important to review all the information you’ve entered. Look out for any mistakes or missing information. Thoroughly checking your application helps minimize errors and ensures that your submission is complete and accurate.
Step 5: Submit and Await Approval
Once you’ve reviewed your application, submit it by following the on-screen instructions. Bank of America will then assess your application. You will typically receive a decision within a few minutes, but in some cases, it may take longer if additional information is required. Keep an eye on your email for any updates or requests from the bank.
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FAQs 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 several key benefits designed to enhance your spending experience. With this card, you can earn unlimited 2 points per dollar spent on travel and dining, and 1.5 points per dollar on all other purchases. Additionally, cardholders can enjoy up to a $100 airline incidental credit annually, which can be used for purchases like seat upgrades or baggage fees. These features make the card appealing for frequent travelers and those who enjoy dining out.
Is there an annual fee for the Bank of America Premium Rewards Credit Card?
Yes, the Bank of America Premium Rewards Credit Card comes with a $95 annual fee. However, the rewards and perks, such as the ability to earn points on everyday spending and travel-related expenses, often outweigh the cost for many cardholders.
Does the Bank of America Premium Rewards Credit Card include any travel protection benefits?
Indeed, this card provides several travel protection benefits. These include trip delay reimbursement, trip cancellation/interruption insurance, and lost luggage reimbursement. Such protections offer peace of mind when traveling, ensuring you have support in unforeseen circumstances.
Are there foreign transaction fees with the Bank of America Premium Rewards Credit Card?
No, there are no foreign transaction fees on purchases made outside the United States. This feature is especially beneficial for international travelers, allowing you to use your card abroad without the worry of additional charges on your transactions.
How does the Bank of America Premium Rewards Credit Card’s reward redemption process work?
Redeeming rewards with the Bank of America Premium Rewards Credit Card is straightforward. Points can be redeemed for a variety of options, including statement credits, travel, and gift cards. The flexibility of the redemption options allows you to maximize your rewards in a way that suits your lifestyle best.
