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

Looking for a credit card that offers both comprehensive rewards and premium benefits? The Bank of America Premium Rewards Credit Card might just be the perfect fit for your financial needs. Tailored for the savvy spender, this card delivers a wide range of features designed to enhance your everyday spending and travel experiences.

With this card, you can earn unlimited 2 points for every $1 spent on travel and dining and 1.5 points on all other purchases. These points can quickly accumulate, providing valuable rewards that fit seamlessly into your lifestyle. Additionally, the card offers several travel perks such as up to $100 for airline incidental purchases and Global Entry or TSA PreCheck® application fee credits.

Beyond the points and perks, owning this card means you also benefit from no expiration on points and no foreign transaction fees, enhancing its appeal to frequent travelers and shoppers alike. Ready to learn more about how to apply and maximize these benefits? Dive deeper into this article to uncover the full potential of this rewarding card.

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

1. Handsome Reward Points on Every Purchase

The Bank of America Premium Rewards Credit Card offers a compelling points system with every purchase you make. Earn 2 points per dollar on travel and dining purchases, and enjoy 1.5 points per dollar on all other purchases. This means your day-to-day expenses can quickly accumulate into significant rewards.

Tip: Leverage these rewards by using the card for larger purchases such as vacations or dining out frequently to expedite your points accumulation.

2. Annual Travel Credits

The card provides up to $100 in travel credits annually to cover incidental air travel expenses, such as seat upgrades, baggage fees, and airport lounge access. This travel credit effectively reduces the overall cost of your journeys, making it an enticing feature for frequent travelers.

Tip: Optimize this benefit by timing your travel-related purchases to coincide with any scheduled trips to capture maximum value.

3. No Foreign Transaction Fees

Traveling abroad? The Bank of America Premium Rewards Credit Card enables you to shop and explore without the dread of foreign transaction fees. With exchange rates often shifting, avoiding additional charges means more of your money stays where it belongs—in your pocket.

Tip: Use your card for international shopping and dining ventures to make the most of this fee-free benefit and enjoy the ease of global transactions.

4. Complimentary Airport Lounge Access

When it comes to luxury travel experiences, this credit card offers complimentary membership to over 1,000 airport lounges worldwide through the Priority Pass program. Airport lounges provide an oasis of comfort, away from the hustle and bustle, with amenities such as food, beverages, and power outlets.

Tip: Make sure to register for your Priority Pass membership to enjoy quiet, comfortable spaces whenever you’re flying.

5. Enhanced Security Features

Your security is paramount with this card. It incorporates various protection mechanisms, like fraud monitoring and alerts and the ability to lock and unlock your card through the mobile app anytime. This means you can be assured that your online and offline transactions are monitored and protected.

Tip: Regularly check your account activity via the mobile app to stay informed about your spending patterns and react promptly to any suspicious activity.

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Eligibility Criteria for the Bank of America Premium Rewards Credit Card

• Credit Score Requirement: To qualify for the Bank of America Premium Rewards Credit Card, applicants generally require a good to excellent credit score, typically around 700 or above. This is crucial as it indicates a strong credit history and financial responsibility.
• Minimum Age: Applicants must be at least 18 years old to apply for this credit card. This is a standard requirement across all credit lines to ensure legal accountability for financial contracts.
• U.S. Residency: Only permanent residents or U.S. citizens are eligible for this card. Documentation proving residency status may be requested during the application process.
• Income: While Bank of America does not explicitly disclose a minimum income requirement, consistent and verifiable income is essential to determine your ability to meet credit obligations. Be prepared to provide employment and income information.
• Existing Bank of America Accounts: While not mandatory, having an existing relationship with Bank of America might enhance your approval chances, as banks tend to favor their current customers.

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

Your journey to earning exclusive rewards begins by visiting the official Bank of America website. Navigate to the credit cards section, where you’ll find the “Premium Rewards Credit Card” option. Look for the “Apply Now” button that will guide you towards starting your application process.

Step 2: Check Eligibility Requirements

Before filling out your application, ensure that you meet the eligibility criteria. Typically, this includes being at least 18 years old, having a U.S. residency, and possessing a good credit history. Checking these requirements in advance can save you time and enhance your chances of approval.

Step 3: Fill Out the Online Application

Once you’re ready to apply, proceed to the online application form. Here, you will need to provide your personal information, including identification details, income information, and contact details. Take your time to ensure all your details are accurate to avoid any potential delays in processing.

Step 4: Review and Submit Your Application

After completing the form, carefully review all your inputs to ensure there are no errors. Submitting incorrect information can hinder the approval process. Once you are satisfied with your entries, click on the “Submit” button to forward your application to Bank of America for review.

Step 5: Await Approval and Next Steps

The anticipation builds as you await confirmation of your new financial asset. Bank of America’s team will assess your application, and you will typically receive a response regarding your approval status within a few days. If approved, you’ll receive your new credit card in the mail, along with instructions on how to start using it to your advantage.

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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 compelling suite of benefits for frequent travelers and savvy spenders. Cardholders can earn 2 points per dollar on travel and dining purchases, and 1.5 points per dollar on all other purchases. Additionally, there’s a generous sign-up bonus: earn 50,000 online bonus points—worth $500 in travel or cash redemption—after making at least $3,000 in purchases within the first 90 days of account opening. Cardholders also enjoy up to $100 in travel credit annually and receive statement credits for TSA Pre✓® or Global Entry application fees.

Does the Bank of America Premium Rewards Credit Card have an annual fee?

Yes, the card carries an annual fee of $95. While some might see this as a potential downside, it’s important to weigh it against the value of the rewards and benefits offered. Frequent travelers can easily offset this cost with the annual travel credits and points earned from regular spending.

Is the Bank of America Premium Rewards Credit Card good for international travel?

Absolutely. The Bank of America Premium Rewards Credit Card is a strong contender for international travelers. Cardholders benefit from no foreign transaction fees, which can save money during overseas travel. The card also provides robust travel protections, including trip delay and cancellation coverage, lost luggage reimbursement, and emergency evacuation coverage, making it a reliable companion for global adventures.

How does the rewards program work?

The card’s rewards program is flexible and easy to use. Points can be redeemed for cash back, travel, gift cards, or purchases at the Bank of America Travel Center. For those looking to maximize value, travel redemption allows each point to retain maximum value, and points do not expire as long as your account remains in good standing. This transparency and flexibility make it ideal for individuals seeking a straightforward rewards system.

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.