Apply for Bank of America Premium Rewards Credit Card Step-by-Step Guide

Unlock a world of travel and lifestyle perks with a card that caters to savvy consumers. The Bank of America Premium Rewards Credit Card provides a path to earn substantial rewards on everyday purchases. Whether you’re jet-setting across the globe or dining at your favorite local spots, this card offers you unlimited 2X points on travel and dining expenses, alongside 1.5X points on all other purchases.

Imagine receiving up to $100 in airline incidental statement credits annually, easing your travel anxieties and elevating your experiences. As a cherry on top, cardholders can enjoy an introductory offer of 50,000 bonus points after qualifying purchases. This equates to a $500 value that can be redeemed for an exciting getaway or hotspot dining experience. With no foreign transaction fees and streamlined online account management, this card is designed for modern lifestyles. Discover how easy it is to apply and begin enjoying these benefits today.

Key Benefits of the Bank of America Premium Rewards Credit Card

Earn Unlimited Points on Every Purchase

The Bank of America Premium Rewards Credit Card offers the opportunity to earn unlimited points on your everyday purchases. You’ll earn 2 points per $1 spent on travel and dining, and 1.5 points per $1 on all other transactions. By using this card for your routine expenses, such as groceries, dining out, or even booking flights, you can accumulate points quickly without any spending limits.

Receive Up to $200 in Travel Statement Credits

This card provides valuable travel perks, offering up to $100 in airline incidental statement credits, which can be used for things like seat upgrades or baggage fees. Additionally, you can receive a $100 credit for TSA Pre✔® or Global Entry application fees. These credits not only save you money on travel expenses but also enhance your travel experience by reducing time spent in security lines.

Enjoy No Foreign Transaction Fees

If you travel abroad frequently or make purchases from international vendors, the absence of foreign transaction fees with this credit card becomes an excellent benefit. By using your Bank of America Premium Rewards Credit Card, you can avoid the usual 3% charge on each purchase made outside the United States, making international spending more economical.

Get an Attractive Introductory Bonus Offer

When you open an account, you can earn a substantial bonus by making purchases totaling a specific amount within the first 90 days. This introductory bonus can give your points balance a significant boost right from the start, accelerating your ability to redeem for rewards.

Increase Your Earnings with Preferred Rewards

Cardholders who are also enrolled in the Bank of America Preferred Rewards program can earn an additional 25% to 75% rewards bonus on every purchase, depending on your tier. By maintaining high balances in your qualifying Bank of America accounts, you can maximize the rewards you earn with every swipe of your card.

To make the most out of the Bank of America Premium Rewards Credit Card, consider using it for everyday purchases, enrolling in the Preferred Rewards program, and prioritizing the card for travel-related expenses to capitalize on the travel credits.

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The Bank of America Premium Rewards Credit Card offers a welcome bonus that significantly boosts your points balance right at the beginning. This feature is particularly appealing for new cardholders looking to maximize their rewards quickly. With the requirement to spend $3,000 in the first 90 days, it is attainable for many who use their card for regular expenses like groceries, bills, and other purchases. Additionally, this card rewards users with a strong earning potential on travel and dining expenses. By earning 3 points per dollar spent on travel and 2 points on dining, cardholders can accumulate points swiftly, contributing to savings on future trips or experiences. Understanding how to leverage these categories can lead to significant rewards over time, making the card not only useful for everyday spending but also a valuable asset for lifestyle enhancement.The value of these aspects truly enhances the card’s desirability, showing its potential to serve as a practical tool for various financial activities. Knowing how to effectively use a credit card can elevate one’s financial strategy, and Bank of America provides tools to help manage and reward such discretionary spending.

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

• Minimum Credit Score: Typically, a good to excellent credit score is required, meaning you should aim for a score of 670 or higher. This indicates to the bank that you are a reliable borrower.
• Proof of Income: Applicants should be prepared to show proof of a stable income. This can include pay stubs, tax returns, or other documentation verifying your income level, reassuring the bank of your ability to repay.
• Identity Verification: You’ll need to provide valid identification such as a driver’s license or passport, along with your Social Security number. This is a standard requirement to confirm your identity.
• US Residency: You must be a resident of the United States as this card is only available domestically. Having a permanent address will usually suffice to meet this requirement.

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

Start your application process by going to the official Bank of America website. You can do this by typing “Bank of America Premium Rewards Credit Card” into your preferred search engine, or by directly entering www.bankofamerica.com into your browser’s address bar. Once on the homepage, navigate to the credit cards section and find the Premium Rewards Credit Card.

Step 2: Review Card Details and Eligibility

Before applying, it’s important to review the card details, such as interest rates, fees, and reward benefits. Ensure that you meet the eligibility criteria, which typically include being at least 18 years old, having a good credit score, and being a U.S. resident. Being aware of these details before you apply can save you time and potential disappointment.

Step 3: Begin the Application Process

Once you’re ready, click the “Apply Now” button to start the application process. You will be prompted to fill out necessary personal information, such as your full name, address, Social Security number, and employment details. Ensure all the information is accurate and complete to avoid any processing delays.

Step 4: Submit Your Application

After completing the form, review your application for any errors. Once satisfied, submit the application. You might receive a decision in a few minutes; however, sometimes it can take more time if additional verification is needed. Bank of America will typically communicate any updates or additional information needed through email or phone.

Step 5: Await Approval

If your application is approved, you’ll be notified of your new credit card details, including your credit limit and terms of use. If further information or action is required, Bank of America will reach out to you directly. Once approved, your card should arrive within 7-10 business days by mail.

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Frequently Asked Questions About the Bank of America Premium Rewards Credit Card

What are the key benefits of the Bank of America Premium Rewards Credit Card?

The Bank of America Premium Rewards Credit Card offers a range of benefits tailored for frequent travelers and everyday users. Cardholders earn unlimited 2 points for every dollar spent on travel and dining and 1.5 points per dollar on all other purchases. Additionally, you can enjoy up to $100 in airline incidental statement credits each calendar year for things like seat upgrades and baggage fees, as well as up to $100 for Global Entry or TSA Pre✓® application fee statement credits every four years. These features make it a compelling option for those who travel often or enjoy dining out.

Is there an annual fee for this credit card?

Yes, the Bank of America Premium Rewards Credit Card comes with an annual fee of $95. However, the travel and dining rewards, insurance coverage, and potential fee credits can offset this cost, especially for individuals who frequently utilize these benefits.

How does the rewards program work?

The card rewards program allows you to earn points with every purchase. For travel and dining, you earn 2 points per dollar, while all other purchases earn 1.5 points per dollar. These points can be redeemed for statement credits, travel purchases, and more, giving you flexible options to make the most of your spending.

Are there any foreign transaction fees associated with this card?

No, the Bank of America Premium Rewards Credit Card does not charge foreign transaction fees. This makes it an excellent choice for those who travel internationally, as you won’t incur extra costs for using your card abroad.

What additional protections and insurances are offered?

In addition to rewards, this card offers several protections like travel and emergency assistance, trip delay reimbursement, trip cancellation/interruption insurance, and lost luggage reimbursement. These features provide peace of mind and added security for cardholders who travel frequently.

Linda Carter

Linda Carter is a writer and financial expert specializing in personal finance and financial planning. With extensive experience helping individuals achieve financial stability and make informed decisions, Linda shares her knowledge on the our platform. Her goal is to empower readers with practical advice and strategies for financial success.