How to Apply for Bank of America Premium Rewards Credit Card Online
Applying for a credit card has never been more convenient, especially when it comes to the Bank of America Premium Rewards Credit Card. Simply sitting at your computer, you can embark on the journey to earn valuable rewards and enjoy a host of benefits this card has to offer. With its straightforward online application process, meeting your financial goals can be accessible and seamless.
Offering features like 2 points per dollar spent on travel and dining, along with 1.5 points on all other purchases, this card is designed with savvy spenders in mind. Imagine earning rewards whether you’re planning a getaway or dining out. Additionally, cardholders can enjoy travel and purchase protections, making it a reliable option for those who enjoy exploring or spending without worries. Curious about unlocking these benefits? Let’s dive into the application process and see how easy it can be to enhance your financial journey.
Key Benefits of the Bank of America Premium Rewards Credit Card
1. Earn Reward Points on Every Purchase
The Bank of America Premium Rewards Credit Card allows you to earn points for every dollar you spend. With this card, you gain 2 points for every $1 spent on travel and dining and 1.5 points per $1 on all other purchases. This feature is particularly beneficial for frequent travelers and food enthusiasts. To make the most of this benefit, consider using the card for all travel-related expenses, including flights, hotels, and dining, to maximize your point accrual.
2. Substantial Signup Bonus
New cardholders can enjoy a substantial signup bonus by meeting the spending requirements within the first 90 days. This bonus can quickly boost your points balance, offering great value, especially when used towards travel bookings or cash back. Ensure you plan your expenses accordingly to hit the spending threshold and unlock the bonus reward.
3. No Foreign Transaction Fees
When traveling overseas, this card ensures that you won’t incur any foreign transaction fees. It makes international purchases more cost-effective and straightforward, saving you money on every transaction made abroad. A tip to leverage this benefit is to use this card specifically for expenses incurred during international trips, whether it’s shopping, dining, or services.
4. Travel and Purchase Protections
This card offers a range of travel and purchase protections, including trip cancellation/interruption insurance, lost luggage reimbursement, and extended warranty coverage. These protections provide peace of mind when traveling or purchasing high-ticket items. To maximize this benefit, familiarize yourself with the claim procedures and the qualifying criteria for each protection offered.
5. Flexible Redemption Options
The points earned can be redeemed in multiple ways, including for cash back, statement credits, travel, or gift cards. This flexibility allows you to tailor the rewards to your financial goals and preferences. Be sure to review the redemption options regularly to ensure that you are always getting the best value for your points.
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| Feature | Benefits |
|---|---|
| Sign-Up Bonus | Earn a substantial bonus when you meet the spending requirement. |
| Rewards Program | Get 3 points per dollar on travel and dining, enhancing your earning potential. |
In addition to these compelling features, the Bank of America Premium Rewards Credit Card offers no annual fee for the first year, making it an attractive option for new cardholders. This allows users to explore the card’s benefits without immediate financial commitment. Furthermore, the card includes travel and emergency assistance, providing peace of mind while traveling. You’ll also enjoy cardholder benefits such as access to exclusive events and experiences, which further enhances your overall card experience. The combination of these features makes the Bank of America Premium Rewards Credit Card a viable option for individuals who frequently travel or dine out, presenting valuable incentives that can lead to notable savings and rewards.
Requirements for Applying for the Bank of America Premium Rewards Credit Card
- Age Requirement: You must be at least 18 years old to apply for this credit card. This is a legal requirement in the United States, ensuring you have the capacity to enter into a contract.
- Credit Score: A good to excellent credit score is typically required. While there is no official minimum, aiming for a score above 700 can increase your chances for approval. A high credit score demonstrates responsible credit management and reliability.
- Proof of Income: Lenders need to ensure you can manage your credit obligations, so providing proof of a stable income through pay stubs or tax returns is essential. A consistent income reassures the bank of your repayment ability.
- U.S. Residency: You must be a resident of the United States. This requirement aligns with various regulatory and identity verification standards specific to the U.S. financial industry.
- Valid Identification: You will need to provide valid identification, such as a driver’s license or passport. This personal identification is crucial for verifying your identity and preventing fraud.
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How to Apply for the Bank of America Premium Rewards Credit Card
Step 1: Visit the Bank of America Website or a Local Branch
To begin your application for the Bank of America Premium Rewards Credit Card, you can either visit the Bank of America official website or head to a nearby local branch. Starting online can be the most convenient option, as the website provides detailed information you might find helpful.
Step 2: Navigate to the Credit Card Section
Once you are on the Bank of America’s homepage, find the credit card section. Typically, this can be accessed through the main menu, where you should look for a category or link titled “Credit Cards.” Click on it to explore the different credit card offerings, and choose Premium Rewards Credit Card to learn more.
Step 3: Review the Card’s Benefits and Eligibility Requirements
Before applying, ensure you understand the card’s benefits and check if you meet the eligibility requirements. The Premium Rewards Credit Card offers features like travel rewards and cash-back options. Familiarize yourself with these perks, as well as any eligibility criteria such as income requirements or credit score prerequisites.
Step 4: Start Your Application
To initiate your application, click on the “Apply Now” button associated with the Premium Rewards Credit Card on the Bank of America’s website. If you prefer applying in person, request an application form from a bank representative at your chosen location.
Step 5: Provide Your Personal and Financial Information
During the application process, be prepared to provide necessary personal information such as your full name, address, and Social Security Number. Additionally, you will need to supply financial details, including your annual income and employment status. Ensure all information is accurate to prevent any delays in the approval process.
SIGN UP 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 benefits of the Bank of America Premium Rewards Credit Card?
The Bank of America Premium Rewards Credit Card offers a variety of perks. Cardholders earn 2 points per dollar on travel and dining purchases and 1.5 points per dollar on all other purchases. Additionally, you can benefit from a yearly $100 Airline Incidental Statement Credit and up to a $100 statement credit for TSA Pre✓® or Global Entry application fees.
Is there an annual fee for the Bank of America Premium Rewards Credit Card?
Yes, there is an annual fee of $95. While this fee might seem like a downside, the numerous rewards and benefits potentially outweigh this cost if the card is used wisely, particularly if you frequently travel or dine out.
Does the Bank of America Premium Rewards Credit Card offer any introductory APR?
Unfortunately, the Bank of America Premium Rewards Credit Card does not offer an introductory APR for balance transfers or purchases. Therefore, it may not be the best choice if you’re looking to consolidate existing debt or finance a large purchase with an introductory low rate.
What credit score is recommended for applying for this card?
Applicants are generally recommended to have a good to excellent credit score, which typically means a FICO score of 700 or higher. A strong credit profile increases your chances of being approved and might also help you secure the best possible terms.
Are there foreign transaction fees with the Bank of America Premium Rewards Credit Card?
No, there are no foreign transaction fees when you use this card. This makes it a great option for international travel, allowing you to save money on purchases made abroad.
