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Author - Sam
Updated: December 1, 2023 | Credit Card Review The Bank Of America Premium Rewards Elite is the most luxury Bank Of America credit card. Card benefits include an annual $300 airline incidental credit, an annual $150 lifestyle credit for purchases of food delivery, fitness subscriptions, streaming and rideshare services, a $100 credit towards Global Entry or TSA Precheck, no foreign transaction fee, Priority Pass Select airport lounge access, and more. The card earns an unlimited 2 points per dollar spent on travel and dining and 1.5 points on everything else. Bank Of America Preferred Rewards customers can get an additional 25-75% reward bonuses on every purchase.
- Credit: Good credit needed
- Max cards: Bank of America will only approve you for 2 Bank of America personal cards within 2 months, 3 Bank of America personal cards within 12 months, and 4 Bank of America personal cards within 24 months
- You cannot get approved for a personal Bank of America card if you have more than 5 Bank of America personal credit cards open
- BOA 2/6 cards in 12 months rule: Bank of America will not approve you for their credit card if you opened more than 2 cards in the past 12 months, even if it’s from other issuers. Except if your a BOA bank account holder, then, you can get approved even if you opened up to 6 cards in 12 months
Apply for two cards: If you apply for one Bank Of America card and get approved, it is recommended to apply for a second card since Bank Of America is very good about approving for two cards, even within the same day
- Credit bureau: Bank Of America will usually pull your Experian credit report (If you freeze Experian then Bank Of America will pull your TransUnion credit report)
- Combining same-day credit inquiries: Credit inquiries for all Personal BOA cards for applications within 30 days will be combined
- Check application status: You can check your application status here
- Reconsideration: I don't have a direct line to Bank of America's reconsideration department. If declined, you can call the new accounts fraud department at 1-888-230-6262, and they can connect you to the reconsideration department
Quickest way to get my card: You can request Bank of America to expedite your physical card by calling Bank of America customer service. Bank of America will in most cases not offer an instant credit card number for your new card.
Approval Monitor (submitted by HelpMeBuildCredit users)
Credit limit range $6,500-$21,400
Avg. Credit limit$16,580
Disclosure: These results are based on information submitted by HelpMeBuildCredit users. Credit card approval results are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. Neither HelpMeBuildCredit nor the bank advertiser's take any responsibility on the accuracy of the information.
HelpMeBuildCredit credit ranges are a variation of FICO®️ Score 8, one of many types of credit scores lenders may use when considering your credit card application
Primary coverage on rentals up to 30 days. Max $75,000.
Receive a $300 airline incidental statement credit per calendar year to cover purchases like seat upgrades, luggage fees, inflight service, and airline lounge fees etc.
Receive $150 in statement credits per calendar year for lifestyle purchases, including streaming services, food delivery, fitness subscriptions, and rideshare services.
Bonus rewards with Bank Of America Preferred Rewards. Platinum Honors members ($100,000 or more in your Bank of America accounts) earn 75% more rewards on all purchases, Platinum members ($50,000 or more in your Bank of America accounts) earn 50% more rewards on all purchases, Gold members ($20,000 or more in your Bank of America accounts) earn 25% more rewards on all purchases.
Get a $100 statement credit for Global Entry or TSA Precheck.
Get coverage for lost or damaged or stolen luggage.
Get Priority Pass Select airport lounge access.
If your baggage is delayed, you can claim coverage to cover expenses like toiletries & clothing.
Get roadside assistance
Get coverage if you, G-d forbid, die in an accident while traveling (on common carriers). Receive up to $1,000,000 in compensation.
Coverage for canceled or interrupted travel due to an unforeseen medical emergency etc.
If your flight is delayed for 6+ hours, you can claim up to $500 per person to cover expenses like meals, lodging, toiletries, medication, and other personal use items.
