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

Unlocking the Rewards with Bank of America Premium Rewards Credit Card

The Bank of America Premium Rewards Credit Card is an excellent choice for both savvy travelers and everyday spenders aiming to maximize their reward potential. With this card, you can earn unlimited 2 points for every dollar spent specifically on travel and dining. This benefit is ideal for frequent travelers who enjoy dining out, allowing them to accumulate rewards more quickly compared to other categories.

Everyday Benefits and Points System

Additionally, the card offers 1.5 points for every dollar spent on all other purchases. This comprehensive rewards structure ensures that cardholders can benefit from their spending habits, whether they’re purchasing groceries or paying utility bills. For instance, if you spend $1,000 a month on non-travel expenses, you’ll earn 1,500 points, contributing significantly to your rewards total over time.

Flexible Redemption Options

One of the card’s standout features is its flexibility. You can redeem your points for cash back, travel, or gift cards, adapting the rewards to meet your personal needs. For example, you might decide to use points for a statement credit to offset next month’s expenses, or perhaps redeem them for gift cards to use during the holiday season. This flexibility enhances the value of the points, providing options that align with your financial goals.

Valuable Perks and Enhancements

Beyond rewards, the card includes crucial perks such as no foreign transaction fees, which is a significant benefit for international travelers who frequently make purchases outside the United States. Moreover, the card offers travel and emergency assistance services, providing peace of mind when you’re away from home. Another notable advantage is the provision of up to $100 in airline incidental statement credits annually. This could cover costs like seat upgrades, in-flight purchases, or baggage fees, adding further value to the cardholder’s travel experience.

Overall, the Bank of America Premium Rewards Credit Card is strategically designed to empower individuals to maximize their spending through valuable benefits, rewarding their everyday purchases while offering financial peace of mind.

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

Earn Substantial Rewards

With the Bank of America Premium Rewards Credit Card, you can earn unlimited 2 points for every $1 spent on travel and dining. For all other purchases, you’ll still receive 1.5 points per $1. This generous rewards program is ideal for those who frequently dine out or travel, offering significant value on your everyday expenses.

Tip: To maximize your rewards, consider utilizing the card for every meal and travel booking. Over time, this can lead to a substantial accumulation of points that you can redeem for various perks.

Travel Credits to Save Money

The card offers up to $100 in airline incidental statement credits annually, which can be used for baggage fees, in-flight purchases, and other airline incidentals. This benefit is a great way to offset some of your travel costs each year.

Tip: Plan your trips around the benefits offered by the card, and remember to charge your airline incidentals to your card to ensure you receive your credit.

Access to Luxury Travel Benefits

When you use the Bank of America Premium Rewards Credit Card, you’ll enjoy numerous travel benefits, including access to visa signature luxury hotel privileges, such as late check-out, room upgrades, and daily breakfast for two. These perks can make your travel experiences more enjoyable and cost-effective.

Tip: Always inquire about available upgrades or special benefits at hotel check-in to maximize your card’s benefits.

No Foreign Transaction Fees

For avid travelers, the ability to use your credit card internationally without incurring additional costs is invaluable. The Bank of America Premium Rewards Credit Card offers no foreign transaction fees, which means you can shop and dine abroad without worrying about extra charges.

Tip: Choose this card for all your purchases when travelling internationally to avoid unnecessary transaction fees, making your adventure more affordable.

SEE HOW TO GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD

Essential Requirements for the Bank of America Premium Rewards Credit Card

• Minimum Credit Score: A good to excellent credit score is typically required, meaning a FICO score of 670 or higher. This helps confirm your creditworthiness to the lender.
• Income Verification: You’ll need to provide proof of a stable and sufficient income. This can be done through recent pay stubs, W-2 forms, or tax returns. The higher your income, the better your chances of approval.
• Social Security Number: A Social Security Number (SSN) is necessary, allowing the bank to accurately identify you and assess your credit history.
• Identification Documents: Valid government-issued identification, such as a driver’s license or passport, is required to confirm your identity.
• Age Requirement: Applicants must be at least 18 years old (19 in some states) to apply for this credit card.
• Bank of America Account: While not always necessary, having an existing relationship with Bank of America could enhance your application chances, making the process smoother.

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 Branch

The first step in applying for the Bank of America Premium Rewards Credit Card is to decide whether you want to apply online or in person. If you prefer the convenience of online applications, you can start by visiting the Bank of America’s official website. On the other hand, if you enjoy face-to-face interactions, visiting a local Bank of America branch could be beneficial. Either way, ensure you have your personal and financial information handy for a smooth application process.

Step 2: Navigate to the Credit Cards Section

If you’re applying online, once you’re on the Bank of America’s website, look for the Credit Cards section. This can typically be found in the menu options at the top of the page. Clicking on this section will display various credit card offerings provided by Bank of America, including the Premium Rewards Credit Card. This step is crucial to ensure you’re viewing the correct product details.

Step 3: Understand the Card Features and Benefits

Before proceeding with the application, it’s important to understand what the Bank of America Premium Rewards Credit Card offers. Take time to read through the card features, benefits, reward programs, and any associated fees or APR rates. Knowing these details will help you determine if this credit card aligns with your financial needs and goals. If needed, use the comparison tools available on the website to contrast with other credit cards.

Step 4: Begin Your Application

Once you are ready to apply, click on the “Apply Now” button associated with the Premium Rewards Credit Card. You will be directed to the application form. Fill in the required fields, including your full name, residential address, employment information, and social security number. Accuracy is key, as incorrect information could delay the review of your application.

Step 5: Submit the Application and Await Approval

After completing the application form, review all the entered information for accuracy. Once you’re confident everything is correct, submit your application. You will typically receive a confirmation of your application submission. The approval process may take a few days, during which Bank of America will review your application and credit history. If approved, you will receive your new credit card by mail within a few weeks.

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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 enticing benefits, such as earning unlimited 2 points for every dollar spent on travel and dining purchases and 1.5 points per dollar on all other purchases. Additionally, cardholders receive up to $100 in Airline Incidental Credits annually as well as up to a $100 Global Entry or TSA PreCheck® application fee statement credit every four years, which helps speed up security and immigration processes for frequent travelers.

How can I maximize my rewards with this credit card?

To make the most of the Bank of America Premium Rewards Credit Card, try to use it for all travel and dining purchases to earn the higher rate of 2 points per dollar. Also, consider pairing it with other Bank of America accounts. Members of the Preferred Rewards program can enjoy a 25% to 75% rewards bonus on every purchase, boosting the value of points earned.

Is there an annual fee for the Bank of America Premium Rewards Credit Card?

Yes, the card has an annual fee of $95. This fee can be offset by the generous rewards and travel benefits, such as the Airline Incidental Credits and the Global Entry or TSA PreCheck® statement credit, especially if you frequently travel and dine out.

Are there any foreign transaction fees with this credit card?

The Bank of America Premium Rewards Credit Card does not charge foreign transaction fees. This makes it an excellent choice for international travelers who can make purchases abroad without incurring additional costs.

How can I redeem the points earned with this credit card?

You can redeem the points earned with the Bank of America Premium Rewards Credit Card for several options, such as statement credits, travel, cash back, or gift cards. This flexibility allows you to choose the reward that best fits your needs, providing a straightforward and beneficial redemption process.

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 our platform. Her goal is to empower readers with practical advice and strategies for financial success.