Apply for Bank of America Premium Rewards Credit Card A Step-by-Step Guide
Unlock Savings with Everyday Spending
Managing daily expenses while optimizing savings can be a challenging task. However, the Bank of America Premium Rewards Credit Card offers a strategic way to enhance your rewards game. Tailored for smart consumers, this card provides a rewarding experience by offering unlimited 2 points per dollar spent on travel and dining. For all other purchases, you’ll still earn a commendable 1.5 points per dollar.
Enticing Initial Bonus
An introductory offer of a 50,000-point bonus is available when you meet the spending requirements within the first 90 days of opening your account. This initial boost can be a significant saving opportunity, translating into substantial travel credits or various other perks.
Beyond Points: Added Benefits
This credit card also stands out for its additional features. You can make international purchases freely, thanks to its no foreign transaction fees. Furthermore, it offers a yearly $100 airline incidental credit, which can be used for seat upgrades, baggage fees, or in-flight purchases, making your travel more affordable.
Steps to Success
Taking the plunge into applying for a new credit card may seem daunting, but the process is straightforward. Before you apply, ensure you have considered your spending habits and how this card can meet your needs. To start, gather your financial documentation, review your credit score, and visit the Bank of America website to fill out the application. By following these steps, you can unlock this card’s full potential and step up your financial strategy.
Conclusion
By integrating the Bank of America Premium Rewards Credit Card into your financial toolkit, you not only enhance your ability to earn points but also unlock valuable travel benefits. It’s a practical choice for anyone looking to boost their everyday savings and make the most out of their spending habits. Embrace this opportunity to gain financial flexibility and let your expenses work for you.
Benefits of the Bank of America Premium Rewards Credit Card
1. Earn Unlimited Rewards Points
The Bank of America Premium Rewards Credit Card offers the ability to earn unlimited points on everyday purchases. You receive 2 points for every $1 spent on travel and dining, and 1.5 points for every $1 spent on all other purchases. This makes it a versatile choice for earning rewards without category restrictions.
Tip: Use the card for daily expenses like groceries and dining out to maximize points accumulation. Consider setting up automatic bill payments using this card to consistently earn points.
2. Travel Perks and Protections
This credit card includes a variety of travel benefits, such as trip delay reimbursement, baggage delay coverage, and travel accident insurance. These benefits can save you money and hassle on unexpected travel disruptions.
Tip: Charge your travel expenses to this card to qualify for these protections. Remember to keep receipts and necessary documentation if you need to file a claim.
3. Annual Venue Credits and No Foreign Transaction Fees
With an annual $100 airline incidental credit and no foreign transaction fees, traveling internationally becomes more affordable. Fees for foreign transactions can add up quickly, so this card eliminates that concern and helps you keep travel costs in check.
Tip: Plan to utilize your airline incidental credit each year for expenses such as seat upgrades, airport lounge fees, and in-flight services to ensure you make the most of this benefit.
4. Preferred Rewards Program Bonus
As a Bank of America Preferred Rewards client, you can receive a bonus of 25% to 75% on every purchase you make. Boost your reward points earnings by qualifying for this program with an eligible account and maintaining the required balances.
Tip: Enroll in the Preferred Rewards program to take advantage of this bonus. Keep track of your balances to ensure you maintain your status and continue earning the bonus rewards rate.
SEE HOW TO GET YOUR BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
| Category | Key Features |
|---|---|
| Signup Bonus | Earn 50,000 online bonus points after making at least $3,000 in purchases in the first 90 days. |
| Reward Points | Get 2 points per dollar spent on travel and dining, and 1.5 points on all other purchases. |
| Annual Fee | $95 annual fee, easily offset by rewards earned. |
| Travel Benefits | Enjoy no foreign transaction fees plus travel and emergency assistance services. |
| Redemption Options | Earn and redeem rewards for cash back, travel, and gift cards, offering flexibility. |
Requirements to Apply for the Bank of America Premium Rewards Credit Card
- Minimum credit score: To enhance your chances of approval, you need a good to excellent credit score, typically 670 or higher.
- Proof of income: You should demonstrate a stable income that assures your ability to manage credit card payments responsibly. Bank statements or pay stubs can serve as verification.
- Age requirement: Applicants must be at least 18 years old. If you are younger, you might need a co-signer.
- U.S. residency status: Applicants need to be U.S. citizens or permanent residents to qualify for this card.
- Social Security Number (SSN): Having a valid SSN is essential for identity verification and conducting credit checks.
LEARN MORE DETAILS ABOUT 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, you need to visit the official website of Bank of America. You can do this by opening your web browser and typing in bankofamerica.com. Once there, navigate to the credit cards section to find the Premium Rewards Credit Card.
Step 2: Check Your Eligibility
Before applying, ensure that you meet the eligibility requirements. This generally includes being at least 18 years old, having a valid Social Security number, and a stable income. Your credit score might also play a role, so verify that it aligns with the card’s requirements for a smooth application process.
Step 3: Gather Necessary Documentation
Prepare all required documentation before starting your application. Typically, you’ll need to provide personal information such as your identification details and financial information. Having these documents ready will streamline the application process.
Step 4: Begin the Online Application
Using the details and documents prepared, fill out the online application form provided on the website. Ensure that all the information you provide is accurate and complete to avoid any processing delays. Take your time to review all entries before submitting.
Step 5: Wait for Approval
After you submit your application, Bank of America will review your details. If approved, you will receive your Bank of America Premium Rewards Credit Card in the mail within a few business days. If additional information is needed, the bank will contact 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 main features of the Bank of America Premium Rewards Credit Card?
The Bank of America Premium Rewards Credit Card offers a range of benefits including unlimited 2 points for every $1 spent on travel and dining, and 1.5 points per $1 on all other purchases. Additionally, you can earn up to $200 in travel credits annually, comprised of a $100 airline incidental statement credit and a $100 credit for TSA Pre✓® or Global Entry application fees.
How can I maximize my rewards with this credit card?
To maximize your rewards, focus your spending on travel and dining where you earn higher points. Consider using the card for all eligible travel and dining expenses to accumulate points quickly. Also, ensure that you take advantage of the annual travel credits, which can significantly reduce your net travel costs.
Are there any fees associated with the Bank of America Premium Rewards Credit Card?
Yes, there is an annual fee of $95. However, the card does not charge foreign transaction fees, making it an excellent option for international travel. The benefits such as the annual travel credits can easily offset the annual fee if utilized effectively.
What should I know about the APR for this credit card?
The variable APR for the Bank of America Premium Rewards Credit Card ranges based on your creditworthiness. It’s crucial to pay your balance in full each month to avoid paying interest and to fully benefit from the card’s reward structure. Keep an eye on your billing cycle and pay by the due date to prevent unnecessary charges.
How can I manage my account and track my rewards?
Managing your account is convenient with the Bank of America app or online portal, where you can view transactions, check your points balance, and redeem rewards. Regularly monitor these platforms to stay informed about your rewards and any limited-time promotions that could enhance your point-earning potential. Keeping track of your spending helps in maximizing your savings and rewards.
