Get the Bank of America Premium Rewards Credit Card How to Apply
In the world of financial rewards, the Bank of America Premium Rewards Credit Card stands out as a valuable tool for savvy consumers. Designed with the American lifestyle in mind, this card is not just about convenience but also about maximizing benefits. Cardholders can enjoy unlimited 2X points on travel and dining, making it a perfect companion for frequent travelers and food enthusiasts. Additionally, there’s a generous online bonus offer for new members to enjoy right from the start.
The benefits don’t stop there. The Premium Rewards Credit Card also provides up to $100 in airline incidental credits each calendar year, easing the burden of travel-related expenses. With no foreign transaction fees and access to 24/7 concierge services, this card caters to the needs of travelers who demand flexibility and value. Dive into the application process to unlock these rewards and elevate your financial strategy today.
Benefits of the Bank of America Premium Rewards Credit Card
1. Lucrative Reward Points System
The Bank of America Premium Rewards Credit Card offers a robust rewards program that provides you with 2 points for every dollar spent on travel and dining purchases, and 1.5 points per dollar on all other purchases. This allows you to earn substantial rewards whether you’re planning a trip or running everyday errands. To maximize your benefits, consider using this card for all your dining out and travel expenses. Over time, these points can accumulate to provide significant savings on your flights, hotel stays, or dining experiences.
2. Flexible Redemption Options
Unlike some credit cards that limit how you can use your rewards, this card provides versatile redemption options. You can redeem your points for cash back, travel, gift cards, and more. This flexibility enables you to tailor your rewards to best fit your lifestyle and financial goals. For instance, if you’re planning a vacation, redeem points for travel to reduce out-of-pocket costs. Alternatively, if you’re saving for something special, opt for cash back to bolster your savings.
3. Travel and Purchase Protections
This card comes with an array of insurance protections, which include trip cancellation and interruption insurance, lost luggage reimbursement, and travel accident insurance. These features provide peace of mind when traveling, ensuring that unexpected events don’t derail your plans or finances. It’s advisable to use this card for your travel bookings to automatically receive these protective benefits, making your trips safer and more secure.
4. No Foreign Transaction Fees
For globetrotters, the absence of foreign transaction fees is a substantial benefit. Each time you make a purchase abroad, you can save approximately 3% compared to cards that charge foreign transaction fees. This could add up to significant savings over the course of travel or purchasing items from international vendors. Always use your Bank of America Premium Rewards Credit Card for international transactions to capitalize on these savings.
5. Welcome Bonus Offer
As a new cardholder, you may be eligible for a substantial bonus offer. By spending a set amount within the first 90 days, you can earn additional bonus points. This can be an excellent jumpstart to your rewards balance. To take full advantage, plan any large purchases around this time frame to meet the requirements easily and boost your points right out of the gate.
LEARN MORE DETAILS ABOUT BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
When considering the Bank of America Premium Rewards Credit Card, it’s important to understand the distinct advantages that make it a desirable choice for many cardholders. Below is a clear and organized table that highlights some of these key benefits:
| Category | Details |
|---|---|
| Bonus Rewards | Earn 3 points for every dollar spent on travel and dining. |
| Annual Fee Waiver | No annual fee for the first year, making it a low-risk option to start. |
This card offers an excellent way for users to accumulate rewards that can be redeemed for travel or cash back, providing flexibility in how the benefits can be utilized. The opportunity to earn bonus rewards on dining and travel is particularly appealing for frequent travelers or those who enjoy trying new restaurants. Moreover, the enticing prospect of waiving the annual fee for the first year allows potential cardholders to experience the benefits without immediate financial commitment, making it a risk-free introduction to premium credit cards. By analyzing more aspects of the Bank of America Premium Rewards Credit Card, you can determine if it aligns with your financial goals and lifestyle.
Requirements for Bank of America Premium Rewards Credit Card
- Credit Score: To increase your chances of approval, a good to excellent credit score, generally above 700, is recommended.
- Income Proof: Applicants should provide evidence of their ability to repay. This typically includes recent pay stubs or tax returns showing a stable and sufficient income.
- Employment Verification: Stable employment history can enhance your eligibility. Be prepared to detail your current occupation and length of employment.
- U.S. Residency: The card is available to U.S. residents, so you must have a valid U.S. address and Social Security number.
- Age Requirement: Applicants must be at least 18 years old. If you’re in Alabama or Nebraska, the minimum age is 19.
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 Local Branch
Begin your application process by visiting the official Bank of America website. Navigate to the credit cards section, where you’ll find an array of options, including the Premium Rewards Credit Card. Alternatively, you can visit your local Bank of America branch to inquire about the card and receive in-person assistance.
Step 2: Review the Card Benefits and Requirements
Before applying, it’s crucial to review the card’s benefits and requirements. This card offers rewards points that can be redeemed for travel, cash back, or other options. Ensure you meet the basic requirements, such as age and credit score. Take your time to understand the fees, interest rates, and the annual fee associated with the card.
Step 3: Start Your Application
Once you’re ready, click on the application link available on the website for the Bank of America Premium Rewards Credit Card. You’ll be prompted to fill out an online form with your personal details, including your name, address, income, and employment information. Make sure to enter accurate information to avoid any delays in processing.
Step 4: Submit the Application
After filling out the necessary information, review your application thoroughly to ensure all details are correct. Missing or incorrect information could lead to application rejection. Once reviewed, submit your application electronically. If applying in a branch, a representative will assist you with the submission.
Step 5: Await Approval
After submitting your application, Bank of America will review it. Approval times can vary, but you may receive a response within a few business days. If approved, you will receive your new card along with the associated documentation explaining your benefits, terms, and conditions.
VISIT THE WEBSITE TO LEARN MORE
Frequently Asked Questions about the Bank of America Premium Rewards Credit Card
What are the benefits of the Bank of America Premium Rewards Credit Card?
The Bank of America Premium Rewards Credit Card offers a variety of benefits. Cardholders earn unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points per $1 on every purchase. Furthermore, you can get up to $100 in Airline Incidental Statement Credits annually and an additional $100 towards TSA Pre✓® or Global Entry fees every four years.
Is there an annual fee for this credit card?
Yes, the Bank of America Premium Rewards Credit Card has an annual fee of $95. While this fee is standard among premium rewards cards, the potential rewards and benefits can easily offset it if you maximize the card’s features.
How can I redeem the rewards points I earn?
There are several ways to redeem your rewards points. You can redeem for cash back as a statement credit or deposit into eligible Bank of America® or Merrill accounts. Alternatively, points can be used for travel, gift cards, or purchases at the Bank of America Travel Center. Keep in mind, redeeming points for travel typically offers the best value.
Are there any foreign transaction fees on this card?
No, there are no foreign transaction fees when using the Bank of America Premium Rewards Credit Card. This makes the card an excellent option for international travelers who want to save on fees while earning rewards on their purchases abroad.
What credit score do I need to qualify for this card?
The Bank of America Premium Rewards Credit Card is generally intended for individuals with good to excellent credit. This typically means a credit score of 700 or higher, but acceptance is based on multiple factors, including your credit history and income. Ensure your financial profile aligns with these expectations before applying to increase your chances of approval.
