How to Apply for Bank of America Premium Rewards Elite Credit Card

For those seeking a prestigious and rewarding credit card option, the Bank of America Premium Rewards Elite Credit Card presents an attractive choice. This card is designed for individuals who value luxury, offering benefits like enhanced travel rewards, exclusive lifestyle experiences, and exceptional customer service. Holders of this card can enjoy a variety of perks, including unlimited premium rewards points on purchases, airport lounge access, and travel credits, making it a compelling option for frequent travelers and high spenders.
Moreover, cardholders gain access to a suite of services that enhance the overall banking experience, including robust security features and personalized financial management tools. With its emphasis on reward maximization and travel conveniences, the Bank of America Premium Rewards Elite Credit Card stands out as a symbol of financial sophistication, perfect for those looking to elevate their spending capabilities while enjoying superior benefits.
Key Benefits of the Bank of America Premium Rewards Elite Credit Card
Generous Reward System
The Bank of America Premium Rewards Elite Credit Card offers a highly competitive reward system, allowing cardholders to earn two points for every dollar spent on travel and dining purchases, and 1.5 points for every dollar spent on other transactions. These rewards points do not expire as long as the account remains open and in good standing, providing ongoing benefits.
To maximize this benefit, plan to use your credit card for all travel and dining expenses. Additionally, consider consolidating your routine expenses to this card to accumulate points faster.
Luxury Travel Perks
Cardholders can enjoy exclusive luxury travel perks such as access to airport lounges, complimentary TSA Pre✓® or Global Entry credits, and travel statement credits. These benefits enhance the travel experience and can also result in significant savings over time.
When planning trips, make sure to avail of these offerings to streamline your travel and reduce costs. Regularly check for new travel benefits or updates to existing ones.
Comprehensive Travel and Purchase Protection
The Bank of America Premium Rewards Elite Credit Card provides substantial travel and purchase protection benefits, including trip cancellation insurance, lost luggage reimbursement, and extended warranty coverage. These features offer peace of mind and security while traveling or making significant purchases.
Ensure you understand the terms and amounts covered under these protections to effectively utilize them when needed, especially for larger purchases or longer trips.
Exclusive Preferred Rewards Program
Cardholders with sufficient qualifying balances in Bank of America checking or Merrill investment accounts can join the Preferred Rewards Program. This program amplifies your rewards earnings by up to 75%, increasing the value of your points and enhancing your cash back potential.
To get the most out of this benefit, focus on increasing your qualifying deposit or investment balances to elevate your Preferred Rewards tier status.
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Requirements for Applying to the Bank of America Premium Rewards Elite Credit Card
- Minimum Credit Score: To qualify for the Bank of America Premium Rewards Elite Credit Card, applicants typically need a minimum credit score of 720. This high threshold reflects the card’s premium nature and ensures applicants demonstrate responsible financial behavior.
- Proof of Income: Applicants must provide verifiable proof of stable income. While there is no explicitly stated minimum income requirement, stable and substantial income increases the chances of approval for this elite card. Income documentation may include recent pay stubs, W-2 forms, or tax returns.
- Debt-to-Income Ratio: A favorable debt-to-income ratio is crucial. Ideally, applicants should maintain a ratio below 43% to enhance eligibility. This ensures that the applicant can manage any additional debt responsibly.
- Legal Residency: Applicants must be U.S. citizens or permanent residents. Legal documentation, such as a Social Security Number or Permanent Resident Card, is necessary during the application process to prove residency status.
- Age Requirement: Applicants must be at least 18 years of age. This requirement aligns with federal regulations concerning credit card applications.
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How to Apply for the Bank of America Premium Rewards Elite Credit Card
Step 1: Visit the Bank of America Website
Begin your application process by visiting the official Bank of America website. You can access the credit card section directly by navigating to the “Credit Cards” tab. Here, explore the various options available and select the ‘Premium Rewards Elite Credit Card’ to initiate the application process.
Step 2: Review Eligibility Requirements
Before applying, ensure that you meet the eligibility criteria for the Premium Rewards Elite Credit Card. Review the requirements regarding credit scores, income levels, and any other prerequisites stipulated by Bank of America. Adequate preparation increases the likelihood of a successful application.
Step 3: Complete the Online Application Form
Once eligibility is confirmed, proceed by clicking on the “Apply Now” button. Fill out the online application form with accurate personal and financial information. Pay close attention to details such as your social security number, employment information, and annual income, as errors can delay the process.
Step 4: Submit Necessary Documents
If prompted, submit any necessary supporting documents that verify the information provided during your application. This could include identification, proof of income, or any other documents required by Bank of America to assess your application effectively.
Step 5: Await Approval Decision
After submission, Bank of America will review your application. This process may involve evaluating your credit score and financial history. Upon approval, you will receive your new Premium Rewards Elite Credit Card by mail. In case of any inquiries, reach out to Bank of America’s customer service for assistance.
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Frequently Asked Questions about the Bank of America Premium Rewards Elite Credit Card
What are the key benefits of the Bank of America Premium Rewards Elite Credit Card?
The Bank of America Premium Rewards Elite Credit Card offers a range of exclusive benefits, including unlimited 2 points per $1 spent on travel and dining purchases, and 1.5 points per $1 on all other purchases. Cardholders can also enjoy up to $200 in travel statement credits for qualifying transactions and a Global Entry or TSA PreCheck statement credit every four years. Additionally, the card provides access to premium concierge services and valuable travel insurance coverage.
What is the annual fee for the Bank of America Premium Rewards Elite Credit Card?
The annual fee for the Bank of America Premium Rewards Elite Credit Card is $550. This fee reflects the comprehensive suite of benefits and rewards offered by the card, making it an ideal choice for frequent travelers seeking premium services and flexibility.
Are there any foreign transaction fees with the Bank of America Premium Rewards Elite Credit Card?
One of the appealing features of the Bank of America Premium Rewards Elite Credit Card is that it does not charge foreign transaction fees. This makes it an excellent option for international travelers who want to use their cards without incurring additional costs on purchases made outside the United States.
How can I maximize the rewards from the Bank of America Premium Rewards Elite Credit Card?
To maximize rewards with the Bank of America Premium Rewards Elite Credit Card, focus on using the card for travel and dining expenses, as it offers double the points in those categories. Additionally, consider taking advantage of Bank of America’s Preferred Rewards program, which can provide bonuses of up to 75% more points on every purchase depending on your eligible tier. Regularly utilize the travel benefits and credits offered to enhance the overall value received from the card.
What is the eligibility criteria for obtaining the Bank of America Premium Rewards Elite Credit Card?
The Bank of America Premium Rewards Elite Credit Card typically requires applicants to have excellent credit history. This generally includes a FICO score of 750 or higher. Additionally, applicants should be prepared to demonstrate sufficient income to support the credit limit they request and meet any other underlying criteria set forth by Bank of America during the application process.

Linda Carter is a writer and financial consultant specializing in economics, personal finance, and investment strategies. With years of experience helping individuals and businesses make complex financial decisions, Linda provides practical analyses and guidance on the The House On Cliff platform. Her goal is to empower readers with the knowledge needed to achieve financial success.