How to Apply for a Bank of America Premium Rewards Credit Card
Discover the benefits of the Bank of America Premium Rewards Credit Card, an option designed to enrich your financial experience. This credit card offers an attractive mix of rewards and practical features, making it an appealing choice for many cardholders in the United States. With its competitive rewards program, cardholders can earn points on their everyday purchases, such as dining, travel, and more.
One of the standout benefits is the ability to earn unlimited points that do not expire, providing flexibility and long-term value. Additionally, enjoy travel perks, like travel credits and airport lounge access, that enhance your journey. By choosing this card, you’re accessing a wealth of opportunities tailored to savvy spenders seeking to maximize their earnings and benefits.
If you’re considering diversifying your wallet with a card that underscores convenience and reward potential, understanding how to apply is the first step toward unlocking its advantages. Join countless others who benefit from these rewarding options today.
Key Benefits of the Bank of America Premium Rewards Credit Card
Flexible Rewards Program
The Bank of America Premium Rewards Credit Card offers a robust rewards program that allows cardholders to earn unlimited 2x points on travel and dining purchases and 1.5x points on all other purchases. This can effectively maximize your earnings as you spend on everyday needs and leisure activities. To optimize this benefit, consider using the card for all your travel and dining expenses, while also leveraging it for substantial purchases across other categories to accumulate points quickly.
Valuable Welcome Bonus
New cardholders have the opportunity to receive a substantial welcome bonus. By spending a certain amount within the first 90 days of account opening, you can earn up to 50,000 online bonus points, which translates to a value of $500. Strategically plan your spending during this period to ensure you meet the required threshold and make the most of this offer.
Travel Credits and Perks
The Bank of America Premium Rewards Credit Card comes with travel-related perks, including an annual $100 airline incidental statement credit to cover baggage fees, in-flight purchases, and more. Additionally, cardholders receive up to $100 in statement credits for TSA PreCheck or Global Entry application fees. These credits can greatly enhance your travel experience by offsetting common travel-related expenses.
No Foreign Transaction Fees
When abroad, using this credit card is highly advantageous as it does not charge foreign transaction fees. This benefit allows travelers to make purchases without the worry of additional costs when using their credit card outside the United States. Remember to use the card liberally when traveling internationally, ensuring you save money while enjoying your trip.
VISIT THE WEBSITE TO LEARN MORE
| Category | Description |
|---|---|
| Rewards Program | Earn 3 points per dollar on travel and dining. |
| Sign-Up Bonus | Receive a bonus of 50,000 points after spending $3,000 in the first 90 days. |
| Category | Description |
|---|---|
| No Annual Fee | Enjoy the benefits of a premium card without an annual fee. |
| Flexibility | Points can be redeemed for a variety of options including cash back and travel. |
Key Requirements for Applying for the Bank of America Premium Rewards Credit Card
- To qualify for the Bank of America Premium Rewards Credit Card, applicants should possess a good to excellent credit score, typically starting from 670 or higher. A solid credit history is crucial for demonstrating creditworthiness.
- Applicants must meet the age requirement, being at least 18 years old. Residents of Alabama and Nebraska have an age requirement of at least 19 years old, in accordance with state laws.
- It is essential to provide proof of sufficient income. Although there is no specific minimum income disclosed, applicants should have a reliable source of income to ensure their ability to make monthly payments.
- Complete documentation is necessary, including a valid government-issued photo ID and a Social Security Number (SSN) or other taxpayer identification for identity verification.
- Applicants may need to provide additional financial information, such as detailed bank statements and employment history, to verify information included in the application and further assess creditworthiness.
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 Branch
To initiate your application for the Bank of America Premium Rewards Credit Card, begin by visiting the official Bank of America website. Navigate to the credit cards section where you will locate the Premium Rewards Credit Card offer. Alternatively, you can visit a local Bank of America branch to speak directly with a representative who can guide you through the application process.
Step 2: Check Eligibility Requirements
Before applying, ensure you meet the general criteria for this credit card. This includes being at least 18 years old and having a stable financial history. The card is geared towards individuals with an excellent credit score, typically a FICO score of 720 or higher. Checking your credit score ahead of the application can help determine if you are likely to succeed.
Step 3: Gather Necessary Documentation
Prepare to provide several pieces of information, including your Social Security Number, income details, and employment information. Having recent financial statements or pay stubs on hand can facilitate a smoother application process, either online or in person.
Step 4: Submit Your Application
Complete the application form either online by following the prompts on the Bank of America website or filling out a physical application at a branch. Ensure all information is accurate and up to date, as discrepancies can delay the processing of your application.
Step 5: Wait for Approval and Receive Your Card
After submission, the approval process can take anywhere from a few minutes to several days, depending on your credit profile and the verification of the submitted information. Once approved, your Bank of America Premium Rewards Credit Card will be mailed to you. Upon receipt, follow the included instructions to activate your card and start enjoying the benefits.
SEE HOW 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 primary benefits of the Bank of America Premium Rewards Credit Card?
The Bank of America Premium Rewards Credit Card offers a variety of compelling benefits, including unlimited 2 points for every dollar spent on travel and dining, and 1.5 points per dollar on all other purchases. Cardholders also enjoy a $100 annual airline incidental credit and up to a $100 credit for Global Entry or TSA PreCheck. Additionally, there are no foreign transaction fees, which makes it an excellent choice for frequent travelers.
What are the requirements to qualify for the Bank of America Premium Rewards Credit Card?
To qualify for the Bank of America Premium Rewards Credit Card, applicants typically need a good to excellent credit score, often defined as a FICO score of 700 and above. Additionally, being a Bank of America Preferred Rewards client can enhance your approval chances and may offer bonus points opportunities. It’s important to have a steady income and a low level of outstanding debt.
Does the Bank of America Premium Rewards Credit Card offer any sign-up bonuses?
Yes, the card typically includes a significant sign-up bonus offer. At the latest update, new cardholders can earn 50,000 online bonus points after making $3,000 in purchases within the first 90 days from account opening. These points translate to a $500 value when redeemed for travel through the Bank of America Travel Center.
How does the Bank of America Premium Rewards Credit Card compare to other travel rewards cards?
Compared to other travel rewards cards, the Bank of America Premium Rewards Credit Card stands out due to its flexible points redemption options and comprehensive travel perks, such as the annual airline incidental credit. While it might not offer the highest points multipliers in specific categories like some competitors, its lack of foreign transaction fees and inclusion of travel credits provide value, especially for Bank of America banking customers who can maximize rewards through their Preferred Rewards program.
What fees are associated with the Bank of America Premium Rewards Credit Card?
The card has an annual fee of $95, which is relatively moderate considering the range of rewards and benefits it offers. Moreover, there are no foreign transaction fees, which can result in significant savings for users who frequently travel abroad. However, it is necessary for cardholders to be aware of interest rates and late payment fees, which are standard with most credit cards.
