How to Apply for Bank of America Premium Rewards Credit Card

Diving into the world of rewards credit cards can be a smart financial move, especially with options like the Bank of America Premium Rewards Credit Card. This card is designed for those who enjoy earning points on their everyday purchases, offering 2 points per dollar on travel and dining and 1.5 points on all other purchases. Imagine transforming your routine expenses into exciting rewards like travel credits or cashback.

As part of the noteworthy advantages, cardholders receive up to $200 in annual travel statement credits, making it an appealing choice for frequent travelers. Additionally, with no foreign transaction fees, it’s perfect for those voyages abroad. Applying for this card means stepping into a streamlined process that ensures you make the most of your financial potential while enjoying the flexibility that fits your lifestyle. Discover how you can unlock these benefits effortlessly.

Unlock the Benefits of the Bank of America Premium Rewards Credit Card

Earn Unlimited Rewards Points

The Bank of America Premium Rewards Credit Card allows you to earn unlimited rewards points on your everyday purchases. You will receive 2 points for every dollar spent on travel and dining and 1.5 points per dollar on all other purchases. This makes it an excellent choice for frequent travelers and diners. To maximize your rewards earnings, consider planning your spending around categories that offer higher points returns.

Travel with Confidence – Enjoy Upgraded Perks

Travel enthusiasts will appreciate the card’s comprehensive travel benefits. You receive up to a $100 statement credit for every four years to cover the cost of Global Entry or TSA Pre✓®, ensuring faster and more convenient airport experiences. Additionally, the card includes an array of travel protections like trip cancellation and interruption insurance, baggage delay insurance, and travel accident insurance. To make the most of these perks, register for Global Entry early and utilize the card while booking all your travel arrangements.

Additional Travel & Dining Credits

Enjoy up to $100 in airline incidental credits each calendar year, which can be used for seat upgrades, baggage fees, and other eligible expenses. This feature offers added savings and comfort during your travels. To fully benefit from these credits, keep track of your eligible airline expenses and submit them for credits regularly.

Introductory APR Offers

Another attractive feature of this card is the introductory APR offers that can help you save on interest. Depending on the current promotional terms, you may enjoy a 0% introductory APR for purchases or balance transfers for a certain period. This can be an excellent way to manage large purchases or consolidate existing debt. Make sure to pay off the balance before the introductory rate expires to avoid higher interest charges.

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Requirements for Bank of America Premium Rewards Credit Card

• Minimum Credit Score: To qualify for the Bank of America Premium Rewards Credit Card, you generally need a high credit score, typically in the range of 700 or above. This indicates that you have a history of managing credit responsibly.
• Proof of Income: Applicants must provide proof of stable income. This could be in the form of recent pay stubs, a letter from your employer, or tax returns if you’re self-employed. Stable income assures the bank of your ability to manage credit repayments.
• U.S. Citizenship or Residency: You should be a U.S. citizen or permanent resident to apply. This is a standard requirement for many financial institutions offering credit products in the United States.
• Valid Social Security Number: A valid Social Security Number is essential for identification and to assess your credit history through credit reports from major bureaus.
• Age Requirement: You must be at least 18 years old to apply for this credit card. If residing in Alabama or Nebraska, you must be at least 19, as per state law.

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How to Apply for the Bank of America Premium Rewards Credit Card

Step 1: Visit the Bank of America Website

Begin your application by visiting the official Bank of America website. You can find the section dedicated to credit cards by navigating through their menu options. Look specifically for the Premium Rewards Credit Card section. This is essential to ensure you’re applying for the right product and have access to all the relevant details and offers available.

Step 2: Review the Credit Card Details

Once you’ve located the Premium Rewards Credit Card page, take a moment to thoroughly review the card features and benefits. Pay attention to details such as annual fees, reward rates, and any promotional offers or introductory APRs. Understanding these can help you decide if this card aligns with your financial goals and spending habits.

Step 3: Start the Application Process

After reviewing the card details, click on the application button to start the process. You will be prompted to fill out an online application form. This form requires personal information including your name, address, social security number, employment details, and income information. Be truthful and accurate with your information to avoid delays in processing your application.

Step 4: Submit Your Application

Once you’ve filled out all necessary fields, carefully review your application to ensure accuracy. After confirming that all information is correct, submit your application. Keep an eye out for a confirmation email, which often provides information on what to expect next in the application process.

Step 5: Await Approval

After submission, Bank of America will review your application. This process may take some time as they assess your creditworthiness. You may receive an instant decision or be contacted for additional information. Once approved, your new Premium Rewards Credit Card will be mailed to you, and you can begin enjoying its benefits.

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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 a variety of benefits that cater to frequent travelers and everyday spenders. Cardholders can earn 2 points per dollar on travel and dining purchases and 1.5 points per dollar on all other purchases. Additionally, the card provides a $100 Airline Incidental Credit annually and a credit for TSA PreCheck or Global Entry application fees. These features make it an attractive option for those looking to maximize rewards while traveling.

What is the annual fee for the Bank of America Premium Rewards Credit Card, and is it worth it?

The Bank of America Premium Rewards Credit Card has an annual fee of $95. Whether it is worth it depends on your spending patterns and how often you utilize the card’s benefits. For example, frequent travelers can quickly cover the annual fee with the $100 Airline Incidental Credit and by earning points on travel and dining. If you’re a Bank of America Preferred Rewards client, you can earn even more points, adding significant value to the card.

How does the points system work for this credit card?

The points system of the Bank of America Premium Rewards Credit Card is straightforward. You earn 2 points per dollar spent on travel and dining, and 1.5 points per dollar on all other eligible purchases. The points can be redeemed for travel, cashback, or gift cards through the Bank of America rewards program. As always, it’s important to keep track of your spending categories to maximize your rewards potential.

Are there any additional perks for Bank of America account holders?

Yes, if you’re a Bank of America Preferred Rewards client, you can earn an additional 25% to 75% bonus on the points for every purchase. This can significantly increase the value of the rewards you earn with the card. To qualify for Preferred Rewards, you’ll need to have an eligible Bank of America checking account and maintain a certain combined balance across your Bank of America accounts.

Does this credit card offer any travel or purchase protections?

Yes, the Bank of America Premium Rewards Credit Card provides several travel and purchase protections. These include coverage for trip cancellations, trip delays, lost luggage, and emergency evacuation. Additionally, the card offers purchase protection for new purchases against damage or theft, and extended warranty protection. These features offer peace of mind when making significant purchases or planning your travels.

Linda Carter

Linda Carter is a writer and expert specializing in finance and investments. With extensive experience helping individuals achieve financial stability and make informed decisions, Linda shares her insights on the Hitschky platform. Her goal is to empower readers with practical advice and strategies for managing their finances and making smart investment choices.