How to Apply for the Bank of America Premium Rewards Credit Card
Unlock a world of premium benefits with a credit card designed to complement your lifestyle. The Bank of America Premium Rewards Credit Card offers enticing advantages, making it a strong contender for those seeking value and flexibility. With every dollar spent, you’ll earn unlimited 2 points per dollar on travel and dining and 1.5 points per dollar on all other purchases. Imagine transforming your everyday expenses into extraordinary experiences and valuable rewards. Whether you’re a frequent traveler or someone who enjoys dining out, this card aligns with your goals.
Additionally, as a cardholder, you can enjoy a lifestyle-enhancing $100 Airline Incidental Statement Credit, which effectively reduces travel costs. New applicants may also qualify for a generous bonus points offer, further enhancing the card’s allure. By understanding how this card can work for you, you’ll be better equipped to make an informed decision. Dive in to learn more about how to apply and start reaping these benefits today!
Key Benefits of the Bank of America Premium Rewards Credit Card
1. Earn Unlimited Rewards
The Bank of America Premium Rewards Credit Card offers an exceptional rewards program where cardholders can earn unlimited points on every purchase. With this card, you can earn 2 points per dollar on travel and dining purchases and 1.5 points per dollar on all other purchases. This means that whether you’re enjoying a meal at your favorite restaurant or booking a flight for your next vacation, you’re accumulating valuable points that can be redeemed for travel, cash back, gift cards, and more.
2. Statement Credits for Travel and Dining
One of the standout features of this card is the opportunity to receive up to $100 in statement credits annually for travel incidentals such as baggage fees and in-flight purchases. Additionally, members can gain another $100 in statement credits every four years for TSA PreCheck or Global Entry application fees. By leveraging these credits, you can offset travel expenses and enhance your travel experiences significantly.
3. No Foreign Transaction Fees
For international travelers, the Bank of America Premium Rewards Credit Card comes with the advantage of having no foreign transaction fees. This means that you can use your card abroad without incurring additional costs on purchases, allowing you to enjoy your travels without worrying about extra charges. Tip: Always opt to pay in local currency to avoid dynamic currency conversion fees.
4. Competitive APR and Bonus Offers
The card features a competitive APR for purchases and balance transfers, along with lucrative bonus offers for new cardholders. For example, by meeting the initial spend requirements, you could be eligible for bonus points as a welcome gift. To make the most of this benefit, plan significant expenses soon after opening your account to ensure you meet the bonus criteria effortlessly.
LEARN MORE DETAILS ABOUT BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
| Category | Details |
|---|---|
| Rewards Earnings | Earn 2x points on travel and dining purchases |
| Welcome Bonus | Receive a substantial bonus after meeting spending requirements |
The Bank of America Premium Rewards Credit Card offers numerous advantages that appeal to both casual and frequent spenders. One notable feature is the rewards earnings structure. Cardholders earn 2x points on travel and dining, making it a great option for those who enjoy eating out or traveling. Additionally, the card offers a welcome bonus that can significantly enhance your rewards potential. After meeting specific spending thresholds within the first 90 days, you can earn a substantial bonus that is credited to your rewards, allowing you to start redeeming points for various benefits sooner.This card also features no foreign transaction fees, making it an ideal choice for international travelers. Cardholders can make purchases abroad without incurring additional charges, which can add up quickly. Additionally, the card comes with various travel insurance protections, including trip cancellation insurance and lost luggage reimbursement, providing increased peace of mind for trips both near and far. Understanding these benefits helps you maximize your rewards and protect your travel investments effectively.
Requirements to Apply for the Bank of America Premium Rewards Credit Card
- Credit Score: To qualify for the Bank of America Premium Rewards Credit Card, it’s generally recommended to have a good to excellent credit score. Typically, this means a FICO score of at least 670 or higher.
- Age Requirement: Applicants must be at least 18 years old (or 21, depending on your state) to apply for this credit card.
- Income Proof: You’ll need to demonstrate a steady source of income to assure the lender of your ability to make payments. This could include recent pay stubs or tax returns.
- U.S. Residency: The card is available to U.S. residents, so you will need to provide proof of residency, such as a social security number and valid ID.
- Bank of America Account Holders: While it’s not mandatory, having an account with Bank of America can potentially strengthen your application, especially if your account stands in good health and history.
- Debt-to-Income Ratio: A critical factor considered is your debt-to-income ratio; it should ideally be on the lower side to reflect less financial risk.
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How to Apply for the Bank of America Premium Rewards Credit Card
Step 1: Visit the Bank of America Website or Nearest Branch
Start your journey to secure the Bank of America Premium Rewards Credit Card by visiting the Bank of America website. For those who prefer a personal touch, you can also choose to visit a nearby Bank of America branch to discuss your options with a representative.
Step 2: Research the Card Benefits and Eligibility Requirements
Before you proceed with the application, it’s essential to understand what the card offers. Take time to explore the benefits and features of the Premium Rewards Credit Card, such as travel and dining rewards. Additionally, review the eligibility criteria to ensure you meet the necessary requirements, like income and credit score.
Step 3: Begin the Application Process
Once you’re familiar with the card details, you can start the application process. On the Bank of America website, navigate to the Premium Rewards Credit Card page and click on the Apply Now button. If you are applying in person, request an application form from the bank representative.
Step 4: Fill in Your Details Accurately
The application will require personal information such as your full name, address, Social Security number, and income details. Ensure all the information is accurate and up-to-date, as discrepancies can lead to delays or rejection of the application.
Step 5: Submit Your Application and Await Approval
After reviewing your application for accuracy, submit it online or hand it to the branch representative if applying in person. Bank of America will process your information and check if you meet the credit card requirements. You will typically receive a response via email or postal mail regarding the approval status.
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 several valuable benefits. Cardholders can earn unlimited 2 points for every dollar spent on travel and dining purchases, and 1.5 points for every dollar on all other purchases. Additionally, there’s an annual $100 Airline Incidental Statement Credit for qualifying purchases, which can offset travel costs such as baggage fees or in-flight purchases.
Is there an annual fee for this credit card?
Yes, the Bank of America Premium Rewards Credit Card has an annual fee of $95. This fee is comparable to similar rewards cards in the market, but the benefits and reward opportunities can easily outweigh this cost if the card is used regularly for travel and dining.
How does the points system work with the Premium Rewards card?
With this card, you earn points every time you make a purchase. The system is straightforward: you’ll get 2 points per dollar on travel and dining, and 1.5 points per dollar on all other purchases. Points can be redeemed for a variety of rewards, including travel, cash back, and gift cards. There is no limit to the number of points you can earn, and they never expire as long as your account remains open.
Are there any additional perks for Bank of America customers?
Yes, if you have a Bank of America checking or savings account and qualify for the Preferred Rewards program, you can earn a bonus of 25% to 75% on every purchase. This means your rewards can be significantly increased if you maintain a qualifying account balance across your Bank of America or Merrill investments.
What is the application process for the Bank of America Premium Rewards Credit Card?
Applying for the card is relatively simple and can be done online through the Bank of America’s website or by visiting a local branch. The process typically requires providing personal information, such as your Social Security number and income details. Approval is based on your creditworthiness, so having a good to excellent credit score will improve your chances of getting approved for this credit card.
