Apply for Bank of America Premium Rewards Credit Card Step-by-Step Guide
Enhance Your Financial Flexibility
Unlock a world of potential and financial flexibility with a card that elevates your rewards to the next level. The Bank of America Premium Rewards Credit Card is a versatile tool designed for individuals who not only love to travel but also enjoy earning rewards as they spend. Whether your travels take you across the country for business or inspire you to plan a memorable family getaway, this card provides unmatched travel benefits and handsome cash-back rewards to enhance your experience.
Maximize Your Rewards
Imagine receiving up to 2 points for every dollar spent on travel and dining. This includes your favorite dining spots, whether you’re trying out new cuisines locally or exploring culinary delights in different states. On purchases other than these categories, you’ll still earn a generous rate of 1.5 points per dollar. This means that everyday expenses, from groceries to gas, contribute to your rewards without any additional effort.
Travel with Ease and Confidence
One of the highlights of this card is that it comes with no foreign transaction fees. This is especially beneficial if you’re exploring destinations outside of the United States, allowing you to make purchases in different currencies without the worry of extra charges. Imagine savoring a croissant in Paris or purchasing local crafts in Mexico, all while knowing your spending provides consistent rewards.
Get Started with a Simple Application
The journey to unlocking these rewarding benefits starts with an application process that is simple and straightforward. We’ll guide you through each step, ensuring that you understand how to maximize what this credit card offers. This includes understanding how to apply your rewards points towards travel, merchandise, or cash back, thereby tailoring your financial tools to meet your unique needs.
- Up to 2 points per dollar on travel and dining 🛫🍽
- 1.5 points on all other purchases 🛍
- No foreign transaction fees 🌎
- Simple application process 🔍
With the Bank of America Premium Rewards Credit Card, your everyday purchases become an opportunity to enhance your financial well-being and travel experiences. Discover the ease and flexibility of using a credit card that truly understands your lifestyle and ambitions.
Benefits of the Bank of America Premium Rewards Credit Card
Unlimited Rewards Points
The Bank of America Premium Rewards Credit Card allows you to earn 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 makes it an ideal choice for frequent travelers and diners. To maximize your rewards, consider using this card whenever you dine out or book travel-related expenses. By doing so, you’ll accumulate points that can be redeemed for various options such as cash back, travel credits, or gift cards.
Generous Travel Credits
This credit card offers an annual $100 Airline Incidental Credit for qualifying purchases, which can be used for expenses like seat upgrades, baggage fees, or in-flight purchases. Additionally, there’s an application fee credit for Global Entry or TSA Pre✓® (up to $100 every four years). To fully benefit from these credits, plan your travel expenses ahead of time and ensure eligible purchases are made using this card.
Comprehensive Travel and Purchase Protection
When you use this card for your travel plans, you gain automatic travel protection features such as trip delay reimbursement and trip cancellation coverage. Additionally, you are covered for theft and damage protection on your purchases. These protections offer peace of mind, allowing you to travel and shop confidently knowing your purchases are safeguarded.
Preferred Rewards Program
Enrolled Bank of America Preferred Rewards members can enjoy 25% to 75% more points on every purchase, depending on your membership tier. This boost can greatly increase the value of your earned rewards over time. If you’re not a member yet, consider enrolling to take advantage of these additional points multipliers and enhance your reward-earning potential.
LEARN MORE DETAILS ABOUT BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
| Category | Benefits |
|---|---|
| Rewards Structure | Earn 3 points on travel and dining purchases, making it ideal for frequent travelers. |
| Sign-Up Bonus | 50,000 online bonus points after spending $3,000 in the first 90 days, redeemable for $500 in travel. |
The Bank of America Premium Rewards Credit Card is recognized for its strong rewards structure, particularly for those who travel frequently. With substantial earnings on travel and dining, cardholders can maximize their points, ensuring that every dollar spent contributes to future adventures or rewards. The sign-up bonus is another major attraction, providing a significant amount of points that can lead to valuable rewards early on.In addition to its earning potential, the card offers various protections and benefits. For instance, it comes with travel accident insurance and auto rental collision damage waiver coverage, which adds peace of mind for those who travel frequently. Furthermore, cardholders experience no foreign transaction fees, allowing for more seamless transactions when abroad, which enhances its appeal.The annual fee is relatively reasonable when you consider the numerous benefits available to cardholders. All of these factors contribute to making the Bank of America Premium Rewards Credit Card an excellent choice for those looking to enhance their financial rewards, making it worth exploring further.
Requirements for Applying to the Bank of America Premium Rewards Credit Card
- Ensure you have a good to excellent credit score. For a smoother application process, aim for a score of 670 or higher, as this range is typically considered by credit card issuers for premium cards.
- Prepare proof of a consistent and sufficient income. While there’s no official minimum income requirement, demonstrating a steady income source indicates your ability to manage payments and can positively influence your application.
- Be ready to provide personal identification and documentation. This includes a government-issued ID like a driver’s license, Social Security number, and other personal details that verify your identity.
- Collect any existing debt or financial obligations documentation. A clear understanding of your financial standing and obligations helps the issuer assess your creditworthiness.
- Consider your credit history length and activity. Lenders often prefer applicants with a longer credit history and a pattern of paying off debts on time, as it suggests financial responsibility.
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
To begin your application for the Bank of America Premium Rewards Credit Card, you can either visit the official Bank of America website or go to a local branch near you. If you prefer doing things online, simply open your web browser on a computer or smartphone and go to the Bank of America’s website. For those who feel more comfortable with face-to-face interactions, heading to a branch will give you access to personal assistance from a bank representative.
Step 2: Locate the Premium Rewards Credit Card Section
On the Bank of America’s website, navigate to the “Credit Cards” section, where you’ll find an array of card options. Look for the Premium Rewards Credit Card. Here, you can read all about the features and benefits of this card, such as earning points on everyday purchases and potential travel rewards. Familiarizing yourself with these details will ensure you choose the credit card that best fits your financial goals.
Step 3: Begin Your Application Online or In-Person
If you’re applying online, click the “Apply Now” button within the Premium Rewards Credit Card section. This will direct you to an online application form where you’ll need to provide personal information, including your name, address, social security number, annual income, and employment information. For those applying in-person, a bank representative will provide you with an application form to fill out, guiding you through any questions you might have.
Step 4: Submit Your Application and Await Approval
After completing the application form, carefully review your information to ensure there are no errors. Once verified, submit your application. Online applications are typically processed quickly, often giving you an instant preliminary decision. If more information is needed, Bank of America may contact you via email or phone. In-person applications may take a bit longer, but you will receive a notification via mail or email once a decision is made.
Step 5: Receive Your Credit Card
Upon approval, your new Bank of America Premium Rewards Credit Card will be mailed to your registered address. Delivery usually takes 7-10 business days. Once received, follow the instructions to activate your card and start enjoying the benefits and rewards that come with it.
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 kind of rewards can I earn with the Bank of America Premium Rewards Credit Card?
With the Bank of America Premium Rewards Credit Card, you can earn 2 points for every dollar spent on travel and dining and 1.5 points per dollar on all other purchases. This makes it a flexible option for both frequent travelers and everyday spenders. Additionally, if you’re a Bank of America Preferred Rewards client, you could earn an additional rewards bonus on every purchase.
Is there an annual fee for the Bank of America Premium Rewards Credit Card?
Yes, the card has an annual fee of $95. While this fee might seem daunting, the card offers numerous benefits such as travel statement credits and a competitive rewards program that can offset the cost, especially for those who maximize their rewards earnings.
Are there foreign transaction fees when using the card abroad?
No, the Bank of America Premium Rewards Credit Card does not charge foreign transaction fees. This is a great advantage for cardholders who travel internationally, as it allows you to use your card abroad without incurring extra charges.
Does the card offer any travel benefits?
Yes, this credit card provides several travel benefits, including $100 in airline incidental statement credits, which you can use for expenses like baggage fees and seat upgrades. Plus, it offers up to $100 in statement credits for TSA Pre✓® or Global Entry application fees, making your travel experience smoother and potentially saving you time and money at the airport.
How can I redeem the points earned with the Bank of America Premium Rewards Credit Card?
You can redeem your points for a variety of options including travel, cash back, gift cards, or even purchases made through the Bank of America Travel Center. This flexibility allows you to choose redemption options that best fit your lifestyle and spending habits.
Linda Carter is a writer and consultant specializing in finance. With years of experience helping individuals improve their financial situation, Linda shares her expertise on the Buenas Life platform. Her goal is to inspire readers to make smart financial decisions and provide practical tips and strategies for financial success.
