How to Apply for the Bank of America Premium Rewards Credit Card?
The Bank of America Premium Rewards Credit Card offers a range of benefits for frequent travelers and those seeking a high-value rewards program.
Whether you’re looking for travel perks, cashback options, or a combination of both, this card provides a well-rounded package.
Here’s a comprehensive guide on how to apply for the Bank of America Premium Rewards Credit Card.
Understanding the Benefits
Before applying for any credit card, it’s essential to understand the benefits it offers. The Bank of America Premium Rewards Credit Card is known for its lucrative rewards program and travel benefits.
Cardholders earn 2 points for every dollar spent on travel and dining purchases and 1.5 points per dollar on all other purchases.
Additionally, the card offers a $100 annual travel credit, access to travel insurance, and no foreign transaction fees, making it a strong contender for those who travel frequently.
Moreover, Bank of America Preferred Rewards clients can enjoy an additional 25% to 75% rewards bonus on every purchase.
This benefit further enhances the value of the card, making it even more appealing to loyal Bank of America customers.
Eligibility Requirements
Before applying for the Bank of America Premium Rewards Credit Card, it’s crucial to ensure that you meet the eligibility requirements.
Like most premium credit cards, this card requires a good to excellent credit score. Generally, a credit score of 700 or higher is recommended to increase your chances of approval.
In addition to a strong credit score, you’ll need to demonstrate a stable income and a responsible credit history.
Bank of America will also consider your existing relationship with the bank, so having a checking or savings account with them may improve your approval odds.
→ CLICK HERE TO REQUEST YOUR CREDIT CARD
How to Apply Online
Applying for the Bank of America Premium Rewards Credit Card online is the most convenient option.
The process is straightforward and can be completed in just a few steps:
- Visit the Official Website: Start by visiting the Bank of America website and navigating to the credit card section. Locate the Premium Rewards Credit Card and click on the “Apply Now” button.
- Fill Out the Application Form: You’ll be required to provide personal information, including your full name, address, Social Security number, and employment details. Be sure to enter accurate information, as any discrepancies could delay the approval process.
- Review the Terms and Conditions: Before submitting your application, carefully review the terms and conditions of the card. This includes the interest rates, fees, and rewards structure. Understanding these details will help you make an informed decision.
- Submit the Application: Once you’ve completed the application form and reviewed the terms, click the “Submit” button. Bank of America will process your application, and you may receive an instant decision. In some cases, additional information may be required, and the decision may take a few days.
How to Apply by Phone
If you prefer speaking with a representative, you can apply for the Bank of America Premium Rewards Credit Card by phone. Here’s how:
- Call Customer Service: Dial the Bank of America customer service number for credit card applications. You can find this number on their website or the back of your existing Bank of America card.
- Provide Information: A representative will guide you through the application process. Be prepared to provide your personal information, such as your Social Security number, income details, and employment status.
- Review and Confirm: The representative will review the terms and conditions with you over the phone. Make sure to ask any questions you may have before confirming your application.
- Submit Application: After confirming your information, the representative will submit your application. You may receive an instant decision, or you may need to wait a few days for a final decision.
How to Apply In-Person
For those who prefer a face-to-face interaction, applying for the Bank of America Premium Rewards Credit Card in person at a local branch is an option.
Here’s what you need to do:
- Visit a Bank of America Branch: Find a nearby Bank of America branch and visit during business hours. It’s a good idea to call ahead and confirm that they can process credit card applications at that location.
- Speak with a Banker: Once at the branch, speak with a banker about applying for the Premium Rewards Credit Card. They will provide you with an application form and assist you in filling it out.
- Provide Documentation: Bring along necessary documentation, such as your ID, proof of income, and Social Security number. The banker may ask for additional information to complete your application.
- Submit the Application: After reviewing your application with the banker, submit it for processing. Depending on the branch, you may receive an instant decision or be notified of the decision later.
→ CLICK HERE TO REQUEST YOUR CREDIT CARD
What to Do After Applying
Once you’ve submitted your application, there are a few steps you can take to stay informed and prepared:
- Check Your Application Status: If you don’t receive an instant decision, you can check the status of your application online or by calling Bank of America’s customer service. This will give you an idea of where your application stands and whether any additional information is needed.
- Prepare for Approval: If your application is approved, you’ll receive your new card in the mail within 7-10 business days. In the meantime, you can start planning how you’ll use the card’s rewards and benefits. If you’re approved for a high credit limit, be sure to manage your spending responsibly.
- Consider Activation Offers: Some credit cards come with activation offers, such as bonus points for spending a certain amount within the first few months. Check if the Bank of America Premium Rewards Credit Card has any such offers and plan your spending accordingly to maximize your rewards.
- Set Up Online Banking: Once you receive your card, set up online banking with Bank of America. This will allow you to manage your account, track your spending, and redeem your rewards conveniently.
What to Do if Your Application is Denied
If your application for the Bank of America Premium Rewards Credit Card is denied, don’t be discouraged.
Here are some steps you can take:
- Understand the Reason: Bank of America will provide a reason for the denial, whether it’s related to your credit score, income, or other factors. Understanding the reason will help you address any issues before reapplying.
- Improve Your Credit Score: If your credit score was the main reason for denial, focus on improving it by paying off existing debt, making on-time payments, and reducing your credit utilization. Consider waiting a few months before reapplying.
- Explore Other Options: Bank of America offers a range of credit cards, so if the Premium Rewards card isn’t the right fit, consider applying for another card that aligns with your current financial situation.
- Reapply When Ready: Once you’ve addressed the issues that led to the denial, you can reapply for the Bank of America Premium Rewards Credit Card or explore other options that better suit your needs.
Conclusion
The Bank of America Premium Rewards Credit Card offers a wealth of benefits for those who travel frequently or seek valuable rewards.
By understanding the application process, meeting eligibility requirements, and choosing the best application method, you can maximize your chances of approval.
Whether you apply online, by phone, or in person, this guide provides the essential steps to help you secure the Bank of America Premium Rewards Credit Card and start enjoying its many perks.
