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

Embarking on the journey to apply for a premium credit card can seem daunting, but with the Bank of America Premium Rewards Credit Card, you’re stepping into a world of exclusive benefits tailored for the savvy spender. This card offers a unique opportunity to earn unlimited 1.5 points on every dollar spent on all purchases, and the rewards don’t stop there. You’ll also enjoy the satisfaction of being able to redeem these points across various travel and dining experiences.

Moreover, frequent travelers will appreciate the card’s standout perks like up to $100 in airline incidental statement credits annually, making every trip more enjoyable. Not to mention the up to $100 Global Entry or TSA PreCheck® statement credit, streamlining your airport experience. Ready to elevate your financial journey? This step-by-step guide will simplify the application process and unlock the potential of what premium rewards can truly offer.

Benefits of the Bank of America Premium Rewards Credit Card

Flexible Rewards Points

The Bank of America Premium Rewards Credit Card offers a competitive rewards program that allows you to earn an unlimited 2 points for every $1 spent on travel and dining purchases, and 1.5 points for every $1 spent on all other purchases. This flexibility means you can accumulate points quickly. To make the most of this benefit, consider aligning your spending habits with the higher earning categories like travel and dining. Using your credit card for these expenses can significantly increase your rewards bank without extra effort.

Generous Travel Credits

This card provides up to $100 in annual travel credits for qualifying incidental expenses, such as seat upgrades, checked baggage fees, or in-flight purchases. Additionally, there is up to $100 in statement credits for TSA Pre✓® or Global Entry every four years, allowing you to breeze through security lines hassle-free. To fully take advantage of this, plan your travel expenditures thoughtfully and ensure you’re using your card for eligible expenses to maximize these credits.

World-Class Travel Insurance and Protection

Cardholders are supported by a suite of travel insurance protections, including travel accident insurance and trip delay or cancellation coverage. This means you can travel with peace of mind, knowing that you’re protected against unforeseen circumstances. It’s essential to review the terms and conditions of these protections to understand the extent of the coverage and utilize it when you need to file a claim or need assistance.

High Customer Loyalty Bonus

If you’re a Bank of America Preferred Rewards member, you could earn a rewards bonus of 25% to 75% on every purchase. This bonus can considerably boost your rewards earnings, making this card especially valuable for those who hold substantial assets with Bank of America or Merrill Lynch. To optimize this, consider consolidating your financial assets to advance your membership tier and unlock the highest bonus rate.

SIGN UP TO GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD

The Bank of America Premium Rewards Credit Card presents an attractive option for consumers looking for a rewards credit card with valuable benefits. The card offers a robust rewards program that allows cardholders to quickly accumulate points, especially on travel and dining purchases. With no foreign transaction fees, it’s an ideal choice for frequent travelers. Moreover, the initial sign-up bonus provides an incentive to start using the card, making it even more appealing for those wanting to maximize their benefits from day one. Additionally, the absence of numerous fees commonly associated with other credit cards enhances its value. Overall, this card stands out in a competitive market for individuals seeking to reap rewards from their spending habits.

Requirements for Bank of America Premium Rewards Credit Card

• Credit Score: Applicants typically need a good to excellent credit score. This usually means a FICO score of at least 700. Maintaining a strong credit history demonstrates to lenders your reliability in managing financial responsibilities.
• Age Requirement: You must be at least 18 years old to apply for the card. If you’re in Alabama or Nebraska, however, the minimum age requirement is 19.
• Proof of Income: Providing proof of income is necessary to ensure that you can manage payments made with the credit card. This can include pay stubs, tax returns, or any official documentation of income. Regular income ensures that cardholders can repay any borrowed amount.
• U.S. Residency: You must be a U.S. resident to apply for this credit card. Proof of residency may include your driver’s license or a utility bill in your name.
• Bank Account: While it’s not mandatory, having an existing account with Bank of America can be beneficial. It might facilitate smoother processing given the bank’s familiarity and trust in existing customers.

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 or Nearest Branch

To start your application for the Bank of America Premium Rewards Credit Card, you’ll need to head over to the official Bank of America website or visit a local branch. If you prefer applying online, you can easily access the credit card application page by visiting the Bank of America homepage. Look for the “Credit Cards” section and click on the “Premium Rewards Credit Card” option to proceed to the application page.

Step 2: Review Card Benefits and Requirements

Before you begin the actual application process, take a moment to thoroughly review the credit card’s benefits and the requirements for eligibility. The Premium Rewards Credit Card offers numerous perks, such as travel rewards and cash back options, so make sure these align with your financial goals. Check that you meet all eligibility criteria, which typically include age, income, and credit score requirements.

Step 3: Fill Out the Application Form

Once you’re on the application page, click to start your application. You’ll need to fill out a digital form, providing essential personal details such as your name, address, contact information, Social Security number, and employment data. Be thorough and accurate in your input to ensure a smooth application process. Double-check all the information before submitting.

Step 4: Submit and Await Approval

After submitting your application, Bank of America will begin evaluating your details. The approval process time may vary, but generally, you will receive a response via email or mail within a few business days. If additional information is required, a representative might contact you directly. Ensure your contact details are current to facilitate this process.

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 valuable benefits. Cardholders earn unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points per $1 on all other purchases. Additionally, it comes with a generous welcome bonus if you meet the spending requirement within the first 90 days. Travel perks include up to $100 in airline incidental statement credits annually and up to $100 in application fee credit for Global Entry or TSA PreCheck 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. However, many users find that the rewards and benefits, such as travel credits and competitive points earning structure, more than compensate for this cost, especially if you travel frequently.

What credit score is recommended to apply for this card?

To increase your chances of approval for the Bank of America Premium Rewards Credit Card, it is recommended to have a good to excellent credit score, typically 700 or above. Keep in mind that other factors such as your income, debt-to-income ratio, and credit history will also be considered during the application process.

Can I use this card abroad without incurring extra fees?

Yes, you can use the Bank of America Premium Rewards Credit Card internationally without worrying about foreign transaction fees. This makes it a great option for travelers who want to earn rewards while avoiding additional charges when making purchases in foreign currencies.

How can I maximize the rewards I earn with this card?

To maximize your rewards, focus on using the card for travel and dining expenses where you earn 2 points per $1. Additionally, consider enrolling in the Bank of America Preferred Rewards program if you qualify, which can offer a bonus of up to 75% more points on every purchase based on your qualifying Bank of America and Merrill investment balances.

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.