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

Are you looking to maximize your travel and dining experiences with a credit card that truly rewards you? The Bank of America Premium Rewards Credit Card might just be what you need. Designed for those who seek more from their everyday purchases, this card offers unlimited 2X points on travel and dining and 1.5X points on all other purchases. Imagine enjoying a weekend getaway, while simultaneously earning points to fund your next adventure.

Moreover, the card provides up to $100 in airline incidental credits annually and up to a $100 statement credit for TSA PreCheck or Global Entry, enhancing your travel experience without those extra costs. With all these comprehensive benefits, it’s clear why many are eager to apply for this card. Whether you’re a frequent traveler or someone who loves to dine out, this card is tailored to elevate your lifestyle.

Benefits of the Bank of America Premium Rewards Credit Card

Generous Reward Points

The Bank of America Premium Rewards Credit Card offers a generous 2 points per dollar spent on travel and dining, and 1.5 points per dollar on all other purchases. For those who frequently spend in these categories, this card can provide a significant boost to your rewards balance. For instance, a family dining out or traveling regularly could maximize their points accumulation by aligning their spending with these categories.

Travel Credit and Perks

With this card, you receive an annual $100 airline incidental statement credit for qualifying purchases, which can be used for things like seat upgrades, baggage fees, or in-flight services. This credit can easily offset the card’s annual fee if used wisely. Furthermore, cardholders enjoy access to benefits like no foreign transaction fees, making it an ideal travel companion.

Flexibility with Reward Redemption

One of the standout features of this card is the flexibility it offers in redeeming rewards. Whether you are looking to book travel, request cash back, or choose gift cards, the card provides various options to suit your lifestyle. By planning your redemption strategy—for example, saving points for flights during peak seasons—you can maximize the value of your rewards.

Preferred Rewards Program

For Bank of America customers already enrolled in the Preferred Rewards program, there is an added bonus where you can earn an additional 25%-75% rewards boost on every purchase, depending on your tier. This is a great tip for existing customers to amplify the benefits of their rewards and optimize their spending.

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

• Minimum Credit Score: A good to excellent credit score, typically 670 or above, is generally required to be eligible for the Bank of America Premium Rewards Credit Card. Having a strong credit history demonstrates your ability to manage debt responsibly.
• Stable Income: While there might not be a specific minimum income requirement, you should have a steady source of income to show your capability to pay off any incurred credit card balances. This includes wages or salary from employment, self-employment, or other sources such as investments.
• U.S. Resident Status: You must be a legal resident of the United States to apply for this credit card. Proof of residence may be required during the application process.
• Age Requirement: You need to be at least 18 years old (or 21 if you are a resident of Puerto Rico) to apply for the card. This is to ensure you are legally able to enter into a credit agreement.
• Personal Identification: Be prepared to provide valid identification documents such as a Social Security Number (SSN) and a government-issued ID, like a driver’s license or passport. This is essential to verify your identity.

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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 navigating to the Bank of America’s official website. To do this, type “Bank of America” into your preferred search engine and click on the official link. Once there, look for the “Credit Cards” section to explore their available credit card options. Make sure to select the Bank of America Premium Rewards Credit Card.

Step 2: Check Your Eligibility

Before applying, it’s important to see if you meet the eligibility requirements. Generally, you should be at least 18 years old and have a Social Security number. A good to excellent credit score is also recommended for this card. Checking these elements can help you better assess your chances of approval.

Step 3: Gather Required Information

For a smooth application process, have all necessary personal and financial information ready. This includes your Social Security number, employment details, and annual income. Being prepared with this information will make your application quicker and more efficient.

Step 4: Complete the Application

Now, it’s time to fill out the online application form. You’ll need to provide the requested personal and financial details. Make sure to double-check the information you enter for accuracy. In some cases, you may be asked for additional documentation or verification.

Step 5: Submit Your Application and Wait for Approval

Once you’ve completed and reviewed your application, submit it for processing. You may receive an instant decision, or it might take a few days for the bank to process your application. Keep an eye on your email for any updates or further instructions from Bank of America.

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

What are the rewards offered by the Bank of America Premium Rewards Credit Card?

The Bank of America Premium Rewards Credit Card offers a variety of rewards to cardholders. You can earn 2 points for every $1 spent on travel and dining purchases and 1.5 points per $1 spent on all other purchases. These points can be redeemed for a range of options, including statement credits, travel, and gift cards, making it a versatile choice for those who spend frequently in these categories.

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. This fee is typical for credit cards offering premium rewards and benefits, which can offset the cost for users who leverage the card’s offerings effectively.

What travel benefits does the card offer?

The card provides several travel benefits, making it ideal for frequent travelers. Cardholders receive up to $100 in airline incidental credits annually, which can be used for seat upgrades, baggage fees, and more. Additionally, there is a $100 Global Entry or TSA PreCheck statement credit, which can expedite your airport security process.

How does the Bank of America Preferred Rewards program enhance my credit card rewards?

If you are part of the Bank of America Preferred Rewards program, you can earn a bonus of 25% to 75% on your credit card rewards points. The exact percentage depends on your tier within the Preferred Rewards program, which is based on your qualifying combined balances in your Bank of America banking and/or Merrill investment accounts.

Does this card offer any sign-up bonuses or introductory offers?

Upon opening a new account, the card often provides a sign-up bonus. For instance, new cardholders can earn a 50,000 online bonus points after making at least $3,000 in purchases within the first 90 days of account opening. This bonus can be worth up to $500 in travel statement credits.

Linda Carter

Linda Carter is a writer and financial consultant specializing in economics, personal finance, and investment strategies. With years of experience helping individuals and businesses make complex financial decisions, Linda provides practical analyses and guidance on the AsanTime platform. Her goal is to empower readers with the knowledge needed to achieve financial success.