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

Maximize Your Rewards with the Bank of America Premium Rewards Credit Card

When it comes to making the most out of your everyday spending, the Bank of America Premium Rewards Credit Card emerges as a standout choice. It’s designed particularly for frequent travelers and dining enthusiasts who want to capitalize on their expenditures. One of its most attractive features is the ability to earn unlimited points on travel and dining purchases, which are categories where many Americans often spend a significant portion of their income.

Understanding the Point Structure

This card allows you to earn 2 points for every $1 spent on travel and dining purchases, such as flights, hotels, and restaurant bills. For example, if you typically spend $500 a month on these categories, you would accumulate 1,000 points monthly, or 12,000 points annually. Additionally, the card offers a competitive rate of 1.5 points per $1 on all other purchases, allowing you to enhance your point tally through everyday expenses like grocery shopping or utility payments. This structure ensures that every transaction contributes to your rewards, providing more opportunities to save or redeem for exciting experiences.

Flexibility and Additional Benefits

The card not only offers substantial point-earning potential but also provides flexibility in how you can use these rewards. Points can be redeemed for travel credits, cash back, gift cards, and more, making it easier to tailor the benefits to suit your personal needs. The redemption options guarantee that your rewards hold practical value across various aspects of your lifestyle.

Getting Started

If this card’s robust rewards system fits your financial habits, applying is a straightforward process. Simply visit the Bank of America website, where you can initiate your application online and start enjoying these perks. By leveraging this card’s offerings, your everyday purchases can truly go the extra mile, making your routine expenditures work harder for you.

Benefits of the Bank of America Premium Rewards Credit Card

Lucrative Rewards Program

The Bank of America Premium Rewards Credit Card offers a robust rewards program with multiple avenues to earn points. You’ll receive 2 points for every dollar spent on travel and dining, and 1.5 points per dollar on all other purchases. This structure encourages you to use the card for all expenses, maximizing your points accumulation. For example, if you travel frequently or dine out often, your points will add up quickly, providing significant value.

Travel Credits and Perks

One of the remarkable benefits of this card is the annual $100 Airline Incidental Statement Credit. This means each year you can claim up to $100 to cover incidental airline charges, such as baggage fees or in-flight purchases. Additionally, the card offers a $100 Global Entry or TSA Pre✓® application fee credit every four years, which can streamline your travel experience.

Introductory Offer

When you first receive your card, there’s a lucrative introductory offer: you can earn 50,000 online bonus points if you make at least $3,000 in purchases in the first 90 days of account opening. These points have to be redeemed within Bank of America’s guidelines, potentially giving you a reward of up to $500 for travel or dining. To make the most of this, plan your purchases to meet the spending threshold without straining your budget.

No Foreign Transaction Fees

With the Bank of America Premium Rewards Credit Card, you won’t incur foreign transaction fees, making it an excellent choice for international travelers. Whether buying souvenirs in Paris or paying for a meal in Tokyo, your purchases abroad won’t cost extra, which is particularly beneficial for those traveling frequently outside the United States.

Tiered Benefits with Bank of America

If you are part of the Bank of America Preferred Rewards program, you can receive a bonus on your credit card rewards, ranging from 25% to 75% based on your tier. By maintaining a higher balance across your Bank of America accounts, you could significantly boost your reward points accumulation. Consider consolidating your finances through Bank of America to elevate your tier, thereby enhancing your rewards.

GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD THROUGH THE WEBSITE

The Bank of America Premium Rewards Credit Card is designed to reward cardholders, especially those who frequently travel and dine out. With its attractive earning potential, cardholders can make the most of their spending, turning everyday purchases into valuable rewards. Understanding these features can help customers wisely choose their next credit card, potentially enhancing their financial strategy.

Requirements for Applying for the Bank of America Premium Rewards Credit Card

• Minimum Credit Score: To increase your chances of approval, aim for a good to excellent credit score, usually around 700 or above. A higher credit score demonstrates your reliability in handling credit responsibly.
• Proof of Sufficient Income: While there isn’t a specified minimum income requirement listed for this card, providing proof of a steady income can help prove your ability to pay off credit card debts.
• U.S. Residency: Applicants should be legal residents of the United States. You’ll need to provide proof of residence such as a driver’s license or a utility bill with your current address.
• Valid Social Security Number: A valid Social Security Number (SSN) is essential for identity verification and credit history assessment.
• Age Requirement: You must be at least 18 years old to apply. Note that if you’re under 21, you might need to show proof of independent income or have a cosigner under the CARD Act.

SIGN UP 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

To start the application process for the Bank of America Premium Rewards Credit Card, you’ll need to visit their website. Open your preferred web browser and enter the address: www.bankofamerica.com. Once on the homepage, navigate to the ‘Credit Cards’ section. Look for the Premium Rewards Credit Card to access more information about its features and benefits.

Step 2: Review Eligibility Requirements

Before you begin your application, make sure you meet the eligibility requirements for the Premium Rewards Credit Card. Typically, this includes being at least 18 years old and having a good to excellent credit score. It’s important to check that you meet these criteria to increase your chances of approval.

Step 3: Fill Out the Online Application Form

Once you’ve confirmed your eligibility, click on the ‘Apply Now’ button. This will take you to the online application form. Here, you’ll need to provide personal information such as your name, address, and Social Security number. You’ll also be asked to supply details about your employment and income. Ensure that all the information is accurate and complete to avoid any delays in processing your application.

Step 4: Review and Submit Your Application

After filling out the form, take a moment to review your application details. Check for any errors or missing information. Once you are satisfied, submit your application. You should receive a confirmation of receipt almost immediately, which may include a reference number for tracking purposes.

Step 5: Wait for Approval

After submitting your application, the bank will review your information. This process can take a few days. If additional information is needed, they may contact you. Once a decision has been made, you’ll be notified via email or mail. If approved, your new Bank of America Premium Rewards Credit Card will be sent to you.

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

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 several appealing benefits. Cardholders can earn unlimited 2 points for every $1 spent on travel and dining purchases, and 1.5 points for every $1 spent on all other purchases. Additionally, there is a $100 annual airline incidental credit and up to $100 in statement credits for TSA Pre✓® or Global Entry application fees. These features make it an attractive option for frequent travelers looking to maximize their rewards.

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. Despite this fee, many cardholders find the rewards and benefits, such as travel credits and bonus points on dining and travel, are worth the investment, particularly if they frequently use these services.

How do the points work with this credit card?

Points earned with the Bank of America Premium Rewards Credit Card can be redeemed for various rewards, including cash back, travel, gift cards, and more. For instance, cardholders can redeem their points for a statement credit or direct deposit into any Bank of America account. The flexibility in redemption options, combined with the ability to earn points on every purchase, makes this card a versatile tool for those seeking valuable rewards.

Are there any foreign transaction fees with this card?

No, the Bank of America Premium Rewards Credit Card does not charge foreign transaction fees. This benefit is particularly useful for individuals who travel internationally and wish to avoid additional charges on overseas purchases, making it a cost-effective choice for global travelers.

Can I earn additional rewards if I am a Bank of America Preferred Rewards member?

Yes, Bank of America Preferred Rewards members can enjoy additional bonuses. Depending on your tier, you could earn a bonus of 25% to 75% more points on every purchase. This capability significantly enhances the earning potential of the Bank of America Premium Rewards Credit Card, providing even greater value for members who maintain significant balances in their eligible Bank of America and Merrill accounts.

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.