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

The Bank of America Premium Rewards Credit Card is designed for those who want to earn rewards while enjoying premium benefits.

This guide will take you through the application process step by step, helping you understand the requirements, benefits, and how to maximize your chances of approval.

Understanding the Card’s Benefits

Before applying, it’s essential to know what the Bank of America Premium Rewards Credit Card offers:

1. Rewards Program: Earn 2 points for every $1 spent on travel and dining purchases, and 1.5 points for every $1 spent on all other purchases. The points are unlimited and do not expire.
2. Sign-up Bonus: New cardholders can earn a substantial sign-up bonus after meeting the spending requirement within the first 90 days of opening the account.
3. Travel Credits: Enjoy up to $100 in statement credits for airline incidental charges such as baggage fees and in-flight purchases. Additionally, there is a credit for Global Entry or TSA PreCheck every four years.
4. No Foreign Transaction Fees: This card is ideal for international travelers, as it does not charge fees for foreign transactions.
5. Travel Insurance: Get comprehensive travel and purchase protection, including trip cancellation and interruption insurance, lost luggage reimbursement, and travel accident insurance.

Eligibility Requirements

To apply for the Bank of America Premium Rewards Credit Card, you must meet the following criteria:

1. Credit Score: This card is targeted at individuals with good to excellent credit. A credit score of 700 or higher is typically required for approval.
2. Banking Relationship: While not mandatory, having an existing relationship with Bank of America or being a member of their Preferred Rewards program can improve your chances of approval.
3. Income Requirements: While Bank of America does not specify a minimum income requirement, your income will be a factor in determining your credit limit and eligibility.
4. Age and Residency: Applicants must be at least 18 years old (19 in Alabama and Nebraska, 21 in Puerto Rico) and be a legal U.S. resident with a valid Social Security number or Tax Identification Number.

→ CLICK HERE TO REQUEST YOUR CREDIT CARD

Step-by-Step Application Process

1. Gather Necessary Information:

Before starting the application, ensure you have the following information ready:

• Social Security number or Tax Identification Number.
• Employment details and income information.
• Monthly housing payments.
• Bank account information.
• Other financial obligations, such as outstanding debts.

2. Visit the Bank of America Website:

Go to the official Bank of America website and navigate to the credit cards section. Select the Premium Rewards Credit Card from the list of available cards.

3. Start the Application:

Click on the “Apply Now” button. You will be directed to the application form where you need to provide your personal and financial information.

4. Complete the Application Form:

• Personal Information: Enter your full name, address, phone number, and email address. Make sure all information is accurate to avoid any delays in processing your application.
• Employment and Income Details: Provide your employment status, occupation, and total annual income. If you have additional sources of income, such as rental properties or investments, include those as well.
• Housing Information: You’ll be asked to provide details about your housing situation, including whether you rent or own, and your monthly housing payments.

5. Review and Submit:

Before submitting, review all the information you have entered.

Ensure that everything is accurate and complete. Once satisfied, click the “Submit” button to send your application for processing.

6. Wait for a Decision:

After submitting your application, Bank of America will review your information and make a decision.

This process can take anywhere from a few seconds to a few days. If approved, you will receive your card in the mail within 7-10 business days.

→ CLICK HERE TO REQUEST YOUR CREDIT CARD

Maximizing Your Chances of Approval

1. Check Your Credit Score: Before applying, check your credit score to ensure it meets the requirements for the Premium Rewards card. If your score is below 700, consider improving it before applying.
2. Pay Down Existing Debt: Reducing your credit card balances and paying off any outstanding debts can improve your credit score and make you a more attractive candidate for approval.
3. Ensure Stable Income: Lenders prefer applicants with a stable income. If you’ve recently changed jobs, wait until you have a few months of steady income before applying.
4. Consider a Banking Relationship: If you’re not already a Bank of America customer, opening a checking or savings account can improve your chances of approval. Being part of their Preferred Rewards program can also increase your rewards earnings.
5. Avoid Multiple Applications: Applying for multiple credit cards in a short period can negatively impact your credit score. Focus on applying for the card that best suits your needs and wait before applying for additional cards.

What to Do After Approval

1. Activate Your Card: Once you receive your Bank of America Premium Rewards Credit Card, activate it online or by phone. You’ll be ready to start using your card for purchases and earning rewards.
2. Set Up Online Banking: Manage your account, pay your bill, and track your rewards online by setting up online banking with Bank of America.
3. Enroll in Preferred Rewards: If you’re eligible, enroll in the Preferred Rewards program to boost your rewards earnings. Depending on your balance across qualifying accounts, you can earn a 25% to 75% rewards bonus.
4. Use the Card for Travel: Maximize your rewards by using the card for travel and dining purchases. Take advantage of the travel credits and insurance benefits when booking trips.
5. Pay Your Balance in Full: To avoid interest charges and maximize the value of your rewards, pay your balance in full each month. This will also help maintain your credit score.

Conclusion

Applying for the Bank of America Premium Rewards Credit Card can be a straightforward process if you follow the steps outlined in this guide.

By understanding the card’s benefits, ensuring you meet the eligibility requirements, and following the application process carefully, you can enjoy the rewards and perks that come with this premium card.

Remember to manage your card responsibly to make the most of the benefits it offers.

→ CLICK HERE TO REQUEST YOUR CREDIT CARD