Apply for Bank of America Premium Rewards Credit Card Step-by-Step Guide

Understanding the Benefits of the Bank of America Premium Rewards Credit Card

Navigating the whirlwind world of credit cards can indeed feel overwhelming, but with some guidance, you can easily reap the benefits offered by credit cards like the Bank of America Premium Rewards Credit Card. This card is designed to reward both frequent travelers and everyday spenders, making it an appealing option for many.

Earn Points with Every Purchase

Imagine earning points on every dollar you spend! With this particular credit card, you are rewarded with unlimited 2 points for every dollar spent on travel and dining. This means that whether you’re booking a flight, dining out with friends, or enjoying a staycation, every dollar spent is working hard for you. Additionally, you earn 1.5 points per dollar on all other purchases, from your morning coffee to your everyday groceries.

Travel Perks and More

One of the standout features of this card is its travel perks. Cardholders can enjoy a $100 annual travel credit, which can be used for airline incidentals, including seat upgrades and baggage fees. Additionally, the card offers credits for TSA Pre✓®/Global Entry fees, allowing you to expedite security checkpoints and focus more on your journey.

Who Benefits Most?

Whether you’re a frequent traveler or someone who just enjoys occasional getaways, these rewards can accumulate quickly, turning everyday spending into significant savings. If you enjoy travel and dining experiences, this card helps transform each purchase into a step closer to your next adventure.

Ready to Maximize Your Benefits?

If these rewards and perks have piqued your interest, consider applying for the Bank of America Premium Rewards Credit Card. It’s an opportunity to maximize your spending while enjoying the conveniences and benefits that come with being a cardholder.

Benefits of the Bank of America Premium Rewards Credit Card

Earn Unlimited Points

The Bank of America Premium Rewards Credit Card offers an excellent opportunity to earn unlimited points on every purchase. You get 2 points for every dollar spent on travel and dining, and 1.5 points per dollar on all other purchases. This flexibility means your rewards are not capped, and you can accumulate points quickly, especially if you travel frequently or dine out often.

Flexible Redemption Options

One of the standout features of this card is the flexibility in redeeming your accumulated points. You can use your points for cash back, travel credits, or gift cards, catering to a wide range of preferences and needs. For example, if you’re planning a vacation, you can use your points to offset travel costs, giving you more financial room to enjoy your trip.

Annual Travel Credits

Another significant benefit is the annual $100 travel credit, which can be used for incidental air travel purchases. This could include baggage fees or upgrades, helping you save extra on your travels. To make the most of this feature, plan any airline-related purchases within a single year to ensure you don’t leave any credits unused.

Zero Foreign Transaction Fees

If you travel internationally, you’ll appreciate the absence of foreign transaction fees with this credit card. Whether you’re purchasing a meal in Paris or booking a tour in Tokyo, you won’t incur extra charges on your purchases abroad, making it a cost-effective companion for international adventures.

Sign-up Bonus Opportunity

The initial sign-up bonus can provide an excellent head start on your rewards balance. By spending a minimum amount within the first 90 days, you could earn a significant number of bonus points. This kick-start helps you get more value from your credit card right from the beginning.

SEE HOW TO GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD

The Bank of America Premium Rewards Credit Card offers a robust rewards program that allows cardholders to earn 2 points for every dollar spent on travel and dining. This makes it an excellent choice for individuals who frequently dine out or travel for leisure or business. Furthermore, the card entitles holders to a sign-up bonus after they meet a specified minimum spending requirement within the initial months of account opening, enhancing its appeal for new applicants.Additional benefits include no foreign transaction fees, making it an attractive option for international travelers. Moreover, the card offers various travel protections, like trip interruption insurance and auto rental collision damage waivers, providing peace of mind while you travel. With an annual fee, cardholders still find value in the accumulated rewards and exclusive perks associated with the card, providing a comprehensive financial tool for many consumers.

Key Requirements 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 should generally have a good to excellent credit score, typically starting from 670 or higher.
• Proof of Employment or Income: Applicants need to demonstrate a stable income source. This could be in the form of a recent pay stub, a letter from an employer, or tax returns for self-employed individuals.
• U.S. Residency or Citizenship: While there are certain exceptions, most applicants will need to be U.S. citizens or permanent residents to apply for this credit card.
• Age Requirement: You must be at least 18 years old to apply for a credit card in the United States. If you are under 21, you may need to demonstrate independent income or have a co-signer.
• Social Security Number: A valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) is required for identity verification purposes as part of the application process.

LEARN MORE DETAILS ABOUT BANK OF AMERICA PREMIUM REWARDS CREDIT CARD

Steps to Apply for the Bank of America Premium Rewards Credit Card

Step 1: Visit the Bank of America Website

To begin the application process for the Bank of America Premium Rewards Credit Card, you should first visit the Bank of America’s official website. You can do this by typing “bankofamerica.com” into your browser’s address bar. Once the homepage loads, navigate to the “Credit Cards” section. This can usually be found in the main menu or under the “Personal” banking category.

Step 2: Select the Premium Rewards Credit Card

After navigating to the Credit Cards section, you’ll see a list of various card options that Bank of America offers. Look for the Premium Rewards Credit Card. Click on it to visit the detailed page dedicated to this specific credit card. Here, you’ll find essential information such as benefits, rewards, fees, and other card features that are important to review before applying.

Step 3: Begin the Application Process

Once you are on the Premium Rewards Credit Card page, locate the “Apply Now” or “Apply” button and click on it. This will direct you to the application form. You will need to fill in personal information such as your name, address, and Social Security Number. Be honest and precise with your information to ensure a smooth application process. Additionally, you might be asked about your current employment and financial status to help determine eligibility.

Step 4: Submit Your Application

After completing all the required fields in the application form, review your information to confirm it is accurate. Once satisfied, click the “Submit” button to send your application for review. You may receive an instant decision or be contacted later by Bank of America for further details or documentation. Ensure that your contact information is correct, as it might be used to notify you about your application’s status.

Step 5: Receive Your Approval

If your application is approved, you will be notified via the contact method you provided during the application process. Approval times can vary, but you typically receive a decision within a few days to a few weeks. Once approved, your Bank of America Premium Rewards Credit Card will be mailed to your address. Activate it as instructed, and be sure to carefully review any accompanying cardholder agreements or material.

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 key benefits of the Bank of America Premium Rewards Credit Card?

The Bank of America Premium Rewards Credit Card offers several key benefits. Cardholders earn unlimited 2 points for every dollar spent on travel and dining purchases, and 1.5 points per dollar on all other purchases. Additionally, it provides up to $200 in annual travel credits for incidentals such as baggage fees and seat upgrades. The card also offers no foreign transaction fees, making it an excellent option for international travelers.

Are there any special benefits for Bank of America Preferred Rewards members?

Yes, if you’re enrolled in the Bank of America Preferred Rewards program, you’ll earn a higher points bonus on each purchase. Depending on your tier, you could receive a bonus of 25% to 75%, which significantly enhances the value of your rewards. This program is ideal for those who maintain significant account balances with Bank of America.

What is the annual fee for this credit card?

The Bank of America Premium Rewards Credit Card has an annual fee of $95. While this might seem like an added cost, the card’s rewards and benefits, such as the travel credit, can quickly offset this fee if utilized effectively.

Does the card offer any introductory bonuses?

Yes, new cardholders can earn a 50,000 online bonus points after making at least $3,000 in purchases within the first 90 days of account opening. This bonus is equivalent to a $500 value that can be redeemed for travel, cash, or other rewards, providing a substantial start to your rewards strategy.

How can I redeem the points earned with this card?

Points earned with the Bank of America Premium Rewards Credit Card can be redeemed in various ways. You can redeem them for travel, including flights and hotels, or for cash back, which can be deposited directly into your Bank of America account or received as a statement credit. Additionally, points can be used for gift cards and purchases at select retailers, allowing flexibility to maximize their value.

Linda Carter

Linda Carter is a writer and financial expert specializing in personal finance and financial planning. With extensive experience helping individuals achieve financial stability and make informed decisions, Linda shares her knowledge on our platform. Her goal is to empower readers with practical advice and strategies for financial success.