How to Apply for Bank of America Premium Rewards Credit Card

With Bank of America Premium Rewards Credit Card you’ll find a credit card that balances luxury perks with practical rewards can feel like a daunting challenge. Whether you’re a young adult building credit, a business owner managing expenses, or a premium user searching for great travel benefits without a sky-high annual fee, the Bank of America Premium Rewards Credit Card also offers a compelling option. 

This card stands out by delivering premium-level rewards, flexibility, and valuable perks that can transform how you spend and travel. So if you’re wondering how to apply and whether this card suits your lifestyle, this guide will walk you through everything, from key benefits to a straightforward application process.

What Exactly Is the Bank of America Premium Rewards Credit Card?

The Bank of America Premium Rewards Credit Card is a mid-to-high tier credit card issued by Bank of America aimed at customers who want to enjoy elevated travel and everyday spending rewards combined with premium benefits. 

Unlike basic cards, it offers a robust cashback structure and travel-focused perks, making it one of the better choices for those who want more from their spending without the overwhelming fees associated with elite cards.

Best suited for individuals with good to excellent credit (usually 700+), this card appeals to business owners seeking travel rewards for company expenses, frequent travelers looking for perks like travel credits and lounge access, consumers wanting premium benefits but without exorbitant fees, and users ready to build or rebuild credit and gain flexible rewards.

Discover the Card’s Most Attractive Features

This credit card shines with several standout benefits that enhance your financial flexibility and travel experiences.

Earn 2X Points on Travel and Dining

Enjoy double points every time you dine out or book travel, whether it’s flights, hotels, rideshares, or even streaming services related to travel plans. This reward rate is better than most alternatives in this category, allowing you to accumulate points faster in your preferred spending areas.

$200 Annual Travel Credit

Receive a $200 statement credit annually for travel purchases. This perk helps offset travel expenses and adds real value for frequent flyers and occasional travelers alike.

No Foreign Transaction Fees

Use your card abroad without incurring extra fees, which makes it ideal for international trips and purchases.

Complimentary Airport Lounge Access

Get access to over 1,000 airport lounges worldwide through the Priority Pass Select membership, a perk usually reserved for high-end credit cards.

Comprehensive Travel and Purchase Protections

Benefit from trip cancellation/interruption insurance, rental car insurance, and extended warranty protections, providing peace of mind for your travel and purchases.

With an APR range typically between 16.99% and 24.99% variable, this card balances reward potential with reasonable borrowing costs. While it does have a $95 annual fee, the perks and rewards it offers often justify this expense for the right user.

What Are the Trade-Offs?

While this card offers excellent perks, it’s not without downsides. The $95 annual fee may deter budget-conscious applicants or those just starting their credit journey. Also, approval generally requires good to excellent credit, making it less accessible to people with lower credit scores.

Unlike no-fee cards, this one demands some commitment to maximize its value. Additionally, while the points earning is generous on travel and dining, other everyday spending earns just 1 point per dollar, which might not be as lucrative for non-travel purchases compared to some cash-back cards.

Still, for those who travel regularly or want premium benefits, these drawbacks are reasonable and balanced by strong rewards and protections.

Applying Made Simple: Step-by-Step Online Guide

Applying for the Bank of America Premium Rewards Credit Card is straightforward and can be completed in minutes if you have your information ready.

1. Visit Bank of America’s Official Website: Go to bankofamerica.com and navigate to the “Credit Cards” section in the main menu.
   
2. Locate the Premium Rewards Credit Card: Find the Bank of America Premium Rewards Credit Card under travel or rewards cards and click to see full details.
   
3. Click on ‘Apply Now’: This will open a secure online application form.
   
4. Fill Out Your Application: Enter your personal data including Social Security number, income, and employment information. Review the terms and conditions carefully before submitting.
   

After submission, many applicants receive instant approval or a response within minutes. If approved, expect your card in the mail within 7 to 10 business days.

Who Is the Bank of America Premium Rewards Card For?

This card is an excellent fit for U.S. residents who enjoy frequent travel or dining out and want to maximize rewards and perks without paying the highest fees charged by luxury cards. It also suits business owners needing flexible travel rewards for company spending, as well as premium users seeking airport lounge access and travel protections.

If you’re someone who values straightforward rewards with premium benefits, and you have good credit, this card should be near the top of your list.

FAQs About the Bank of America Premium Rewards Credit Card

Does this card have an annual fee?

Yes, the annual fee is $95.

What credit score is needed?

Good to excellent credit (around 700 or higher) is generally required.

Are there foreign transaction fees?

No, this card does not charge foreign transaction fees.

Is there an introductory APR offer?

Typically, there is a 0% intro APR on purchases and balance transfers for a limited period (usually 15 billing cycles), then a variable APR applies.

Why This Card Could Be Your Next Best Choice

The Bank of America Premium Rewards Credit Card offers a balanced mix of premium travel perks and valuable rewards for people who want more from their credit card without paying elite fees. 

With 2X points on travel and dining, a $200 annual travel credit, Priority Pass lounge access, and no foreign transaction fees, it’s better than most alternatives when it comes to travel rewards with moderate costs.

If you want a step-by-step guide on applying for another great card, check out our article, “Apply for Bank of America Travel Rewards Credit Card Easy Guide”.

For more insights on credit cards and financial tips, visit nswShop.com, your trusted source for smart money moves.

Hugo