How to Apply for Bank of America Premium Rewards Credit Card
Obtaining the Bank of America Premium Rewards Credit Card could be your gateway to a world of benefits, tailored perfectly for those who value reward points and exclusive travel perks. This credit card is crafted for savvy spenders who enjoy turning everyday purchases into extraordinary rewards. With every dollar spent, you can earn valuable points that accumulate faster than you might expect, especially if you’re a Bank of America client with qualifying accounts.
The card offers enticing incentives, such as 2 points per dollar spent on travel and dining and 1.5 points per dollar on all other purchases. Imagine enjoying luxurious travel benefits or dining experiences, knowing that each expense is adding up to future rewards. Additionally, the lack of foreign transaction fees makes it a perfect companion for international travelers. So, if you’re looking to maximize your spending power, discover how to apply for this powerful card today.
Benefits of the Bank of America Premium Rewards Credit Card
Earn Unlimited Rewards Points
With the Bank of America Premium Rewards Credit Card, you earn unlimited rewards points for every dollar you spend. This card offers 2 points per dollar on travel and dining purchases and 1.5 points per dollar on all other purchases. It’s an excellent way to accumulate points quickly, especially if you love dining out or frequently travel. To maximize your rewards, consider using this card for all your everyday purchases.
Lounge Access with Up to $100 Airline Incidental Credit
Enjoy a more comfortable travel experience with a yearly credit of up to $100 for airline incidentals like seat upgrades, baggage fees, and in-flight services. Additionally, this card grants access to airport lounges, enhancing your travel comfort. To make the most of this benefit, plan your travel expenses strategically and use the credit every calendar year.
Global Entry or TSA Pre✔® Fee Credit
The Premium Rewards Credit Card offers a credit of up to $100 for Global Entry or $85 for TSA Pre✔® application fees, allowing you to speed through airport security and customs. As these programs are valid for five years, it’s a cost-effective benefit. Apply for this credit soon after getting the card to begin enjoying faster travel processing.
No Foreign Transaction Fees
Travel confidently with no foreign transaction fees when you use the Bank of America Premium Rewards Credit Card overseas. This means you can make purchases abroad without worrying about additional charges, which can result in significant savings. For international travelers, always carry this card to avoid wasting money on fees that can add up quickly.
SEE HOW TO GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
| Category | Details |
|---|---|
| Sign-Up Bonus | Earn 50,000 online bonus points after spending $3,000 in the first 90 days. |
| Rewards Structure | Receive 3 points per dollar on travel and dining, and 1.5 points on all other purchases. |
| Category | Details |
|---|---|
| Annual Fee | The card comes with a reasonable $95 annual fee, offset by rewards. |
| Redemption Flexibility | Points can be redeemed for cash back, travel, or gift cards—offering flexibility. |
The Bank of America Premium Rewards Credit Card offers a comprehensive package of incentives designed for those who frequently engage in travel and dining expenses. The sign-up bonus alone provides a substantial boost, making it an appealing choice for individuals looking to maximize their rewards potential. Understanding the card’s unique offerings can greatly assist in making informed financial decisions.
Requirements to Apply for the Bank of America Premium Rewards Credit Card
- Credit Score: A good to excellent credit score is typically required to qualify for the Bank of America Premium Rewards Credit Card. This usually means a score of 670 or higher. If your credit score falls in this range, you are likely to be considered for this card.
- Minimum Income: Applicants should have a stable annual income. While specific income requirements are not publicly disclosed, a higher income can improve your chances of approval, as it indicates your ability to manage potential credit repayments.
- U.S. Residency: You must be a U.S. resident or citizen. Proof of residency, such as a utility bill or lease agreement, is usually required to confirm this.
- Age Requirement: Applicants must be at least 18 years old. For those under the age of 21, additional documentation might be necessary to prove independent financial capacity, unless there’s a co-signer.
- Identification: Providing a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN) is essential. These numbers are used to verify your credit history and other financial details.
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Steps to Apply for the Bank of America Premium Rewards Credit Card
Step 1: Visit the Bank of America Website or Nearest Branch
To begin your application for the Bank of America Premium Rewards Credit Card, you should first visit the official Bank of America website or go to your nearest Bank of America branch if you prefer in-person assistance. If you opt for the website, navigate to the credit cards section to find detailed information about the Premium Rewards Credit Card, including its features and benefits.
Step 2: Check Your Eligibility
Before starting your application, ensure you meet the eligibility criteria for the Premium Rewards Credit Card. Generally, applicants should have a good credit score, be at least 18 years old, and have a valid Social Security number. Understanding these requirements beforehand can save you time and help ensure a smooth application process.
Step 3: Gather Necessary Documentation
Prepare all the required documentation for your application. This typically includes personal identification such as a driver’s license or passport, proof of income like pay stubs or tax returns, and any other financial information that demonstrates your ability to manage a new line of credit. Having these documents readily available can expedite the application process.
Step 4: Complete the Application Process
Once you’re ready to apply, you can fill out the application form online on the Bank of America website or in person at a branch. Provide accurate information to avoid any delays in processing. Online applications usually require creating or logging into your online banking account, then following the prompts to submit your application for the Premium Rewards Credit Card.
Step 5: Await Approval
After submitting your application, the bank will review the details to determine your eligibility. This process takes some time, so be patient. If additional information is needed, Bank of America might contact you. Once approved, you will receive your Premium Rewards Credit Card in the mail, and you can then start enjoying its benefits and rewards.
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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 key benefits tailored to frequent travelers and savvy spenders. Cardholders can earn 2 points for every $1 spent on travel and dining purchases and 1.5 points per $1 on all other purchases. Additionally, it provides up to $100 in airline incidental statement credits annually, which can be used for expenses like baggage fees and in-flight purchases. Global travelers also benefit from no foreign transaction fees, making it an excellent companion abroad.
Is there an annual fee for this credit card?
Yes, there is an annual fee of $95. However, the potential rewards and benefits, such as travel credits and bonus points, can easily offset this cost if you use the card frequently and wisely.
Who is eligible for the Bank of America Premium Rewards Credit Card?
Eligibility for the Bank of America Premium Rewards Credit Card typically requires a good to excellent credit score. While specific scoring criteria may vary, generally, a FICO score of 670 or higher is recommended. Additionally, consider your income and financial history as these factors are also assessed during the application process.
What is the introductory bonus offer for new cardholders?
New cardholders can earn a 50,000 online bonus points after making at least $3,000 in purchases in the first 90 days of account opening. These points can be redeemed for a $500 value toward travel, cash back, or other rewards, offering a substantial initial benefit.
How does the points redemption process work?
Points earned with the Bank of America Premium Rewards Credit Card can be easily redeemed through the Bank of America online portal. Cardholders have flexibility, as points can be redeemed for cash back, travel, gift cards, or merchandise. For maximum value, many users prefer redeeming points for travel through Bank of America’s travel center, where points tend to go further.
