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

The Bank of America Premium Rewards Credit Card is designed for individuals who seek to maximize their everyday spending while enjoying luxurious benefits. With this card, members can earn unlimited 2 points for every $1 spent on travel and dining and 1.5 points per $1 on all other purchases, making it an ideal choice for frequent travelers and diners. These points are easily redeemable for a variety of options such as travel, gift cards, or even cashback.

Moreover, cardholders benefit from an array of travel perks, including a generous up to $100 annual travel credit for airline incidentals and Global Entry or TSA Pre✓® fee reimbursements. What sets this card apart is its competitive rewards structure combined with Bank of America’s extensive customer care. Whether you’re planning your next getaway or navigating everyday expenses, this card offers a seamless blend of rewards and convenience.

Benefits of the Bank of America Premium Rewards Credit Card

1. Generous Rewards Structure

The Bank of America Premium Rewards Credit Card offers a competitive rewards system. Cardholders earn 2 points for every dollar spent on travel and dining purchases and 1.5 points for every dollar spent on all other purchases. This rewards structure allows for efficient accumulation of points, which can be redeemed for cash back, travel, gift cards, and more. To maximize these rewards, consider using the card for all travel and dining expenses, and consolidate other purchases whenever possible.

2. Significant Travel Credit

Cardholders benefit from an annual $100 travel credit, applicable towards incidental travel purchases such as seat upgrades and baggage fees. This benefit helps offset travel expenses, making it an attractive option for frequent travelers. Be strategic in planning your trips around this credit to ensure you make use of the full amount each year, maximizing your card’s value.

3. No Foreign Transaction Fees

The card does not charge foreign transaction fees, which is a considerable advantage for international travelers. This feature ensures that you can use your card abroad without incurring additional costs, saving you money on purchases made outside the United States. To fully exploit this benefit, consider using the card for all international transactions.

4. Flexible Redemption Options

One of the standout features of the Bank of America Premium Rewards Credit Card is its flexible redemption options. Points can be redeemed for cash back, travel, gift cards, or other experiences, allowing you to tailor your rewards to your personal preferences. To make the most of your points, regularly evaluate the available redemption offers and select options that provide the best value relative to your needs.

5. Valuable Sign-up Bonus

New cardholders can take advantage of a generous sign-up bonus, which provides a significant number of extra points when meeting a specified spending threshold within the first 90 days. This bonus can jumpstart your rewards accumulation, so plan larger expenditures within this period to ensure you meet the eligibility requirements and maximize initial point earnings.

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

• To qualify for the Bank of America Premium Rewards Credit Card, applicants must demonstrate a strong credit score. Generally, a score of 700 or above is recommended, as it indicates a good or excellent credit history, which significantly boosts the approval chances.
• Applicants should possess a minimum income level. While the exact figure is not publicly disclosed by Bank of America, a steady and sufficient income is expected to ensure that the applicant can manage the responsibilities associated with a premium credit card.
• Proof of residency in the United States is essential for all applicants. This is typically verified through a Social Security number or other acceptable identification documents that confirm the applicant’s legal residency status.
• Completing the application requires the provision of accurate personal information, including full name, address, contact details, and Social Security number. These details help the bank verify identity and run necessary credit checks.
• Documentation supporting any additional income sources might also be required. This can include rental income, investment returns, or other sources, ensuring the bank gets a complete picture of the applicant’s financial health and repayment capability.

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

Step 1: Access the Bank of America Credit Card Application Portal

To start the application process for the Bank of America Premium Rewards Credit Card, navigate to the official Bank of America website. You can do this by entering the URL, www.bankofamerica.com, into your web browser’s address bar. Once on the homepage, locate and click on the ‘Credit Cards’ section from the main menu to be redirected to the credit card offerings page.

Step 2: Find the Premium Rewards Credit Card

Within the credit card offerings, search for the Premium Rewards Credit Card. You can scroll through the list of available cards or use the search function to find it quickly. Once located, click on the card to access detailed information about its features, benefits, and the terms associated with it.

Step 3: Evaluate Eligibility Requirements

Before proceeding with your application, ensure that you meet the eligibility criteria for the Bank of America Premium Rewards Credit Card. This typically includes being at least 18 years of age and a resident of the United States. Additionally, review any income and credit score requirements. Ensuring you meet these prerequisites will improve your chances of approval.

Step 4: Start the Online Application Process

Upon confirming that you meet the eligibility requirements, click the ‘Apply Now’ button associated with the Premium Rewards Credit Card. You will be redirected to the online application form. Here, you must provide personal details such as your full name, address, contact information, and Social Security number. Ensure that all information is accurate to avoid delays in processing.

Step 5: Review and Submit Your Application

Before submitting your application, take the time to review all the information you have entered. Verify for any errors or omissions. Once everything has been confirmed, proceed to submit your application form. After submission, you should receive an application confirmation, and the bank will assess your application. Upon approval, you will be notified and receive your Premium Rewards Credit Card by mail.

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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, including 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, cardholders can receive up to $100 in airline fee credits for incidental travel purchases, such as baggage fees. The card also provides up to a $100 statement credit for TSA Pre✓® or Global Entry, enhancing travel convenience.

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. However, the rewards and benefits offered by the card can offset this cost for many users, especially those who travel frequently.

Does the Bank of America Premium Rewards Credit Card offer any sign-up bonus?

Yes, new cardholders can earn a sign-up bonus of 50,000 online bonus points, which is equivalent to a $500 value, after making at least $3,000 in purchases within the first 90 days of account opening. This offers a competitive incentive for new members.

Are there any foreign transaction fees with the Bank of America Premium Rewards Credit Card?

No, the Bank of America Premium Rewards Credit Card does not charge foreign transaction fees. This makes it a suitable option for individuals who frequently travel internationally or make purchases with foreign merchants.

What credit score is required to qualify for the Bank of America Premium Rewards Credit Card?

Applicants typically need a good to excellent credit score to qualify for the Bank of America Premium Rewards Credit Card. This generally means a FICO score of 670 or higher. However, meeting the credit score requirement does not guarantee approval, as other factors such as income and credit history are also considered.

Beatriz

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