How to Apply for Bank of America Premium Rewards Elite Card

If you’re aiming for a credit card that delivers world-class perks, powerful travel benefits, and rewards that actually match your lifestyle, the Bank of America Premium Rewards Elite Card is one of the best options available. 

From jet-setters to business professionals, this card combines luxury with practical value. Whether you’re building your credit or simply want a better return on every dollar, this card deserves a serious look.

What Is the Bank of America Premium Rewards Elite Card?

The Bank of America Premium Rewards Elite Card is a top-tier credit card designed to offer elevated rewards and travel advantages. Issued by Bank of America, this card targets premium users who value convenience, travel insurance, lounge access, and high reward potential. It’s an excellent fit for those with good to excellent credit, but also beneficial for individuals aiming to grow their credit profile responsibly.

This card is especially powerful when paired with Bank of America’s Preferred Rewards program, offering up to 75% more points on purchases. It’s better than most alternatives when it comes to combining luxury benefits with real, everyday value.

Unlocking Elite Perks: What You Get

The Premium Rewards Elite Card isn’t just a credit card—it’s a financial tool that elevates your travel, lifestyle, and protection.

Enhanced Rewards Rate

Earn 2 points per $1 on travel and dining purchases, and 1.5 points per $1 on all other eligible purchases. If you’re a Preferred Rewards member, this can boost to 3.5 points per $1.

Annual Airline Incidental Statement Credit

Receive up to $300 annually in statement credits for airline incidentals like baggage fees and in-flight purchases—a real value for frequent flyers.

Priority Pass Select Membership

Enjoy unlimited access to over 1,300 airport lounges worldwide with a complimentary Priority Pass Select membership.

Travel and Purchase Protections

From trip delay coverage to baggage insurance and extended warranty protection, the card offers a safety net for your big (and small) purchases.

TSA PreCheck / Global Entry Credit

Get up to $100 in statement credit every four years for either Global Entry or TSA PreCheck application fees.

With these standout benefits, the Premium Rewards Elite Card delivers more than just points—it enhances your entire spending experience.

Things to Consider Before Applying

While the card offers impressive perks, it’s important to consider a few drawbacks. First, the annual fee is $550, which may not be ideal for users with limited budgets or lower monthly spending. 

The rewards program, while generous, delivers the best value to Preferred Rewards members. Additionally, this card requires a strong credit profile for approval—typically good to excellent scores (700+). It’s a card best suited for those who can maximize the benefits to justify the cost.

Applying for the Premium Experience: Step-by-Step

Applying for the Bank of America Premium Rewards Elite Card is simple. Follow these steps to start your application:

1. Go to the Bank of America Website: Navigate to bankofamerica.com.
2. Find the Premium Rewards Elite Card: Locate the “Premium Rewards” category and select the “Elite” version.
3. Click “Apply Now”: You’ll be redirected to the secure online application.
4. Fill Out the Application Form: Provide your full name, contact information, income, and Social Security number. Double-check for accuracy.
5. Submit Your Application: Once you agree to the terms, click submit. Most applicants get a decision within minutes.

If additional verification is needed, Bank of America may reach out. Final decisions may take up to 10 business days.

Who Should Get This Card?

This card is ideal for frequent travelers, high-spending professionals, and anyone looking to capitalize on luxury benefits while earning strong rewards. If you’re already part of the Bank of America ecosystem, particularly the Preferred Rewards program, the value multiplies. Even if you’re still building your credit or considering your first premium card, this one can unlock long-term financial and travel benefits.

FAQs

What credit score is needed?

A good to excellent score is usually required, around 700 or above.

Is there an annual fee?

Yes, the annual fee is $550.

Are there foreign transaction fees?

No, there are zero foreign transaction fees.

Can I access airport lounges?

Yes, the card comes with a Priority Pass Select membership.

Why You Should Apply Now

The Bank of America Premium Rewards Elite Card offers one of the best combinations of luxury, protection, and high-value rewards. Here’s a quick look at what you get:

• 2x points on travel and dining
• Up to $300 in airline incidental credits annually
• Complimentary airport lounge access
• TSA PreCheck/Global Entry statement credit
• No foreign transaction fees

When paired with Preferred Rewards, the Elite card delivers unrivaled value.

If you’re exploring multiple high-end options, you might also want to read our post titled “How to Apply for US Bank Altitude Reserve Visa Infinite Card”, which compares favorably in some luxury travel categories.

Want to explore more credit card reviews and tools? Visit our main site at nswShop.com and get expert insights to help you find your next best card.

Hugo