How to Apply for Bank of America Premium Rewards Credit Card
The path to unlocking exclusive rewards and travel perks is just an application away. By choosing the Bank of America Premium Rewards Credit Card, you gain access to a suite of advantages tailored for those who love to travel and earn rewards on everyday spending. Imagine earning unlimited 2 points for every dollar spent on travel and dining, and 1.5 points per dollar on all other purchases, all while enjoying the peace of mind with no foreign transaction fees.
In addition to these rewards, cardholders also benefit from perks like a generous $200 annual travel credit and access to over 1,100 airport lounges worldwide. If you’re looking to maximize your spending while experiencing a touch of luxury, this credit card could be the gateway you’ve been searching for. Ready to embark on your rewarding journey? Discover how easy it is to apply and elevate your financial game.
Key Benefits of the Bank of America Premium Rewards Credit Card
Generous Reward Points System
The Bank of America Premium Rewards Credit Card offers a robust rewards system. You earn 2 points per dollar spent on travel and dining, and 1.5 points per dollar on all other purchases. This means that for every meal at a restaurant, hotel booking, or airline ticket you purchase, you can accumulate significant points, turning your expenditures into future savings.
Travel Perks and No Foreign Transaction Fees
Frequent travelers will appreciate the card’s travel perks. The card provides up to $100 in statement credits for TSA Pre✓® or Global Entry application fees, helping you save both time and money when traveling. Additionally, there are no foreign transaction fees, allowing you to make purchases abroad without the extra charges that typically add up on conventional cards.
Flexible Redemption Options
The points you earn with this card can be redeemed in a variety of ways: for gift cards, travel services, or even as cash back deposits into a Bank of America account. This flexibility ensures that your rewards can be aligned perfectly with your personal financial strategy, whether it’s saving for a trip or reducing your credit card bill.
Introductory Bonus Offer
New cardholders can benefit from a significant introductory bonus. After spending $3,000 in the first 90 days of opening your account, you will receive 50,000 bonus points, which can translate to $500 in value. To maximize this benefit, plan your larger purchases within this timeframe to easily hit the spending threshold.
SIGN UP TO GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
| Category | Description |
|---|---|
| Rewards Program | Earn 3 points on travel and dining, 2 points on all other purchases. |
| No Annual Fee in the First Year | Enjoy benefits without a fee, allowing flexibility in your budget. |
Another significant aspect of the Bank of America Premium Rewards Credit Card is its versatile rewards program. With the ability to earn 3 points for every dollar spent on travel and dining, users can accumulate points quickly. This can help you maximize your travel experiences, as points can be redeemed for travel expenses such as flights, hotels, and more. In addition, earning 2 points on all other purchases allows for continuous rewards accumulation, making everyday spending more beneficial.Moreover, one of the attractive features of this credit card is the no annual fee during the first year. This offers an excellent opportunity for potential cardholders to explore the card’s benefits without the initial commitment of an annual fee. During this period, you can assess how well the card fits your financial habits and lifestyle, providing the chance to experience its perks before deciding on a longer-term relationship.
Requirements for the Bank of America Premium Rewards Credit Card
- Credit Score: To apply for the Bank of America Premium Rewards Credit Card, you typically need a credit score in the good to excellent range. This usually means a score of 700 or above. This shows lenders that you have a reliable credit history and are likely to manage your credit responsibly.
- Age Requirement: You must be at least 18 years old to apply for a credit card in the United States. If you’re younger, you might need a co-signer.
- Income: While there is no specific minimum income stated, having a steady and sufficient income is crucial as it helps demonstrate your ability to pay back any borrowed funds. Lenders look for financial stability when evaluating applications.
- U.S. Residency: Applicants must have a valid U.S. address. This is necessary as the card issuance and service are targeted towards residents within the country.
- Documentation: Be prepared to provide documentation that verifies your identity, income, and residence, such as a government-issued ID, pay stubs, or utility bills.
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 or a Local Branch
To begin your application for the Bank of America Premium Rewards Credit Card, start by visiting the official Bank of America website or heading to a nearby Bank of America branch. Navigating to their online platform is often the most convenient method, as it allows you to apply from the comfort of your home at any time that suits you.
Step 2: Navigate to the Credit Cards Section
Once on the Bank of America’s homepage, look for the Credit Cards section. This can typically be found in the main navigation menu. Click on this section, and you’ll be directed to a page that lists all available credit card options. Locate the Premium Rewards Credit Card among these offerings.
Step 3: Review Eligibility Requirements
Before proceeding with your application, it’s important to review the eligibility requirements for the Bank of America Premium Rewards Credit Card. These requirements might include factors such as minimum income, excellent credit score, and residency status. Understanding these criteria helps ensure a smooth application process and increases your chances of approval.
Step 4: Fill Out the Application Form
After confirming that you meet the eligibility criteria, click on the Apply Now button associated with the Premium Rewards Credit Card. You will be taken to the online application form. Here, you’ll need to provide personal information such as your full name, address, Social Security Number, and financial details. Ensure that you fill in all required fields accurately to avoid any delays in processing your application.
Step 5: Submit the Application and Wait for Approval
Once you have completed the application form, review all your entered information for accuracy. When satisfied, submit your application. You should receive a confirmation notice after submission. The bank will then process your application and notify you of their decision. This can typically take anywhere from a few minutes to a few days, depending on the volume of applications and your specific circumstances.
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 main benefits of the Bank of America Premium Rewards Credit Card?
The Bank of America Premium Rewards Credit Card offers a range of benefits designed to enhance your spending experience. You can earn unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points per $1 on all other purchases. Additionally, cardholders receive up to $200 in combined airline incidental and TSA Pre✓®/Global Entry statement credits every year, making it an excellent choice for frequent travelers.
Does the Bank of America Premium Rewards Credit Card have an annual fee?
Yes, the card comes with an annual fee of $95. However, many users find that the rewards and perks, especially when taking advantage of airline incidentals and other bonuses, easily justify the cost of the fee.
Who is eligible to apply for the Bank of America Premium Rewards Credit Card?
The card is primarily targeted towards individuals with a good to excellent credit score. Typically, this means having a credit score of 670 or higher. Additionally, it is always helpful to have a stable income and a solid credit history before applying.
How can I maximize my rewards with this credit card?
To make the most out of your Bank of America Premium Rewards Credit Card, focus on using it for travel and dining purchases to earn the higher points rate. Also, ensure you take full advantage of the potential annual statement credits for travel-related expenses. For those who qualify, enrolling in the Preferred Rewards program can provide an additional 25% to 75% rewards bonus on every purchase, significantly boosting your earning potential.
