How to Apply for the Bank of America Premium Rewards Credit Card
Navigating the world of credit cards can be overwhelming, but understanding the benefits can turn confusion into clarity. If you’re a frequent traveler or someone who enjoys the perks of elevated rewards, the Bank of America Premium Rewards Credit Card might be tailored for you. This card is designed to offer you access to exceptional travel benefits and generous points on everyday spending.
With this card, you can earn unlimited 2 points for every $1 spent on travel and dining, and 1.5 points per $1 on all other purchases. Additionally, it provides up to a $100 Airline Incidental Statement Credit that is particularly useful for offsetting luggage fees or in-flight purchases.
There’s more to explore with this card, especially if you maintain qualifying accounts with Bank of America. It could amplify your rewards potential even further. Excited to unlock these benefits? Discover the simplicity behind the application process and start maximizing your financial gains today.
Benefits of the Bank of America Premium Rewards Credit Card
Earn Unlimited Points on Purchases
The Bank of America Premium Rewards Credit Card allows you to earn unlimited points on every purchase. You will earn 2 points for every $1 spent on travel and dining and 1.5 points per $1 on all other purchases. This makes it an ideal option for individuals who frequently travel or dine out and are looking to maximize their rewards. Consider using this card for all eligible purchases to accumulate points quickly.
Flexible Redemption Options
With this card, you have the flexibility to redeem your points in various ways, such as travel, cash back, or gift cards. For example, you can use your points to cover flight expenses, get a statement credit, or purchase gift cards for your favorite stores. This flexibility allows you to use your rewards in a manner that best suits your lifestyle and needs.
Travel and Purchase Protections
As a cardholder, you’ll enjoy a range of travel and purchase protections, including trip delay reimbursement, lost luggage coverage, and purchase protection on new items. This means if your flight is delayed, or your luggage goes missing, you’ll be covered. Plus, if something you’ve purchased with the card gets damaged or stolen, you may be eligible for reimbursement or a replacement. Be sure to read the terms and conditions to fully understand these benefits.
Generous Introductory Offer
Opening a new Bank of America Premium Rewards Credit Card comes with a bonus offer: earn 50,000 online bonus points after making at least $3,000 in purchases in the first 90 days of account opening. That is worth $500 toward travel expenses. This introductory offer can give your points balance a substantial boost right from the start. It might be advantageous to plan any large purchases you have within this period to take full advantage of the bonus.
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| Category | Details |
|---|---|
| Rewards Program | Earn 2 points per dollar on travel and dining. |
| Travel Benefits | Receive trip delay insurance and no foreign transaction fees. |
The Bank of America Premium Rewards Credit Card offers a fantastic rewards program. Cardholders can earn 2 points per dollar spent on travel and dining purchases, making it an attractive option for frequent travelers and food enthusiasts alike. Additionally, the ability to earn 1.5 points per dollar on all other purchases ensures that every dollar spent contributes to your rewards balance. Moreover, this card stands out with its travel benefits. Alongside points earning, cardholders enjoy trip delay insurance, which can compensate for unexpected expenses incurred due to travel disruptions. Furthermore, there are no foreign transaction fees, meaning you can use your card abroad without worrying about additional charges. These features make the Bank of America Premium Rewards Credit Card a well-rounded option for those who prioritize travel and rewards in their financial planning.
Requirements for the Bank of America Premium Rewards Credit Card
- Credit Score: Applicants are typically expected to have a good to excellent credit score, usually 670 or higher. This indicates a strong history of managing credit responsibly, making timely payments, and keeping balances low.
- Income Level: Although the specific minimum income requirement isn’t publicly disclosed, a stable and sufficient income to support credit obligations is expected. This ensures the ability to manage monthly payments effectively.
- U.S. Residency: You must be a resident of the United States. This involves having a valid U.S. address to receive billing and card-related correspondence.
- Age Requirement: Applicants need to be at least 18 years old. In Alabama or Nebraska, the age requirement is 19, as mandated by state law.
- Bank of America Account: While not strictly necessary, having an existing account with Bank of America could facilitate the approval process. It may also offer additional benefits when managing your cards and rewards.
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How to Apply for the Bank of America Premium Rewards Credit Card
Step 1: Visit the Bank of America Website
To begin your application for the Bank of America Premium Rewards Credit Card, navigate to the official Bank of America website. You can do this by entering www.bankofamerica.com in your web browser’s address bar and pressing Enter. Alternatively, you can search for “Bank of America credit cards” in a search engine. Once on the homepage, look for the “Credit Cards” section in the navigation menu, which will guide you to the variety of credit card products offered by the bank.
Step 2: Select the Premium Rewards Credit Card
In the credit cards section, you will find a list of various credit card options. Locate the Bank of America Premium Rewards Credit Card. Click on the card name or the corresponding “Learn More” button to access detailed information about the card benefits, fees, and other important details. Take your time to read through and ensure that this card matches your financial needs and lifestyle.
Step 3: Start the Application Process
Once you have decided that the Premium Rewards Credit Card is the right choice for you, look for the “Apply Now” button on the card’s information page. Click this button to begin the online application process. You will be prompted to provide your personal information, such as your name, address, date of birth, and Social Security number. Be prepared to disclose information about your employment and income as well. Bank of America uses this information to assess your creditworthiness.
Step 4: Review and Submit Your Application
Before submitting, carefully review all the information you have entered to ensure accuracy. Take note of any terms and conditions provided, as understanding these will be crucial to your future interactions with the credit card. Once you are satisfied that all details are correct, click on “Submit” to send your application to Bank of America for approval.
Step 5: Await Approval Decision
After submission, you will receive a confirmation notice indicating that your application is under review. Typically, you can expect a decision within a few minutes if further verification is not required. In some cases, it may take longer if additional information is needed. Keep an eye on your email or postal mail for updates on your application status and next steps to receive your new card.
GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD THROUGH THE WEBSITE
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 a variety of perks designed to enhance your spending experience. One of its key benefits includes earning 2 points for every $1 spent on travel and dining and 1.5 points per $1 on all other purchases. Additionally, you can enjoy up to $200 in combined airline incidental and TSA Pre✓®/Global Entry statement credits, which can greatly offset travel expenses. These rewards make this card an attractive choice for frequent travelers and diners.
Is there an annual fee for the Bank of America Premium Rewards Credit Card?
Yes, the Bank of America Premium Rewards Credit Card has an annual fee of $95. However, the benefits and rewards you receive can easily outweigh this cost, especially if you regularly spend on travel and dining. Calculating how much you’ll earn in rewards can help you decide if the card’s annual fee aligns with your spending habits.
How does the rewards program work?
The rewards program is straightforward. You earn points that can be redeemed for a range of options, including travel credits, cashback, and even gift cards. Travel aficionados will appreciate the flexibility of using points for flights, hotel stays, and more. Remember, keeping track of your points and redeeming them strategically can maximize the value you get from this card.
Are there any travel protections offered by this credit card?
Yes, cardholders benefit from a suite of travel protections, including trip delay reimbursement, baggage delay coverage, and travel and emergency assistance services. These features provide peace of mind when traveling, knowing that unexpected expenses might be covered by your credit card. Always review the terms and conditions to understand the extent of coverage before relying on these protections.
Can I earn more rewards as a Bank of America Preferred Rewards client?
Absolutely! As a Bank of America Preferred Rewards client, you can earn a rewards bonus of 25% to 75% on every purchase. This bonus is based on your tier in the Preferred Rewards program, making it an excellent option for those who also have substantial deposits or investments with Bank of America. The enhanced earnings can significantly boost the points accumulated over time, turning the card into a highly valuable tool for managing your finances.
