Bank of America credit card

As with choosing a card from any other issuer, you’ll want to seek out the Bank of America credit card most suitable for you and your needs. for instance , the Bank of America Travel Rewards for college kids is a great choice for young adults who travel. Other student card options also exist for those that prefer cash back over travel rewards. Frequent non-student travelers will likely be more happy with one of the bank’s numerous travel rewards cards, whichever of the co-branded cards fits best: Bank of America has co-branded cards with Air France KLM, Alaska Airlines or Amtrak.

The BankAmericard mastercard and other Cash Rewards and Premium Rewards cards also offer benefits to those whose lifestyles and spending patterns best fit the reward structures these cards offer.

You can apply for a Bank of America Credit Card via the Bank of America website. After browsing options and selecting the proper fit for you, you’ll be redirected to a secure online credit card application form. Simply fill out the appliance and hit submit. Applications also can be saved for later so long as any application started is completed within 30 days.

After submitting your application you ought to receive a notice via email from Bank of America quickly, informing you if your application has been approved, declined or needs longer for review. Once approved, you’ll receive your card within 10 business days.

How to Activate Bank of America Credit Cards

The fastest thanks to activate your credit card is to use Bank of America’s Online Banking service, either through an internet browser or the Bank of America app. Once you enroll, you’ll use your Online Banking ID and passcode to confirm and activate your card. If you’ve got trouble during the activation process, you’ll call the Customer Service number on the back of the card.

How to Cancel a Bank of America Credit Card

You can cancel your Bank of America credit card account any one of three ways: visiting a local branch and speaking with a banker in-person, calling Bank of America’s mastercard Customer Service number or submitting your request by mail.

There are many different credit cards on the market today and not every card is right for everyone. The trick is knowing which one is true for you.

Which sign-up bonus will offer you the greatest value? Which card fits your spending patterns? Which set of benefits will, well, benefit you the most?

The Bank of America® Premium Rewards® mastercard is a solid option, but that doesn’t mean it’s the proper card for everyone. So let’s take a glance at exactly who should be getting this card and why, but also who shouldn’t be getting it also .

Who should get the Bank of America Premium Rewards Card?

If any of the below apply to you, then you ought to at least consider whether the Bank of America Premium Rewards card might be a good choice.

People who focus on cash back

While the Premium Rewards card technically isn’t a cash-back card, you’ll earn fixed-value points that are best used for cash-type redemptions, like a statement credit or a deposit into a Bank of America account. So if you favor not to deal with the complexity of points and miles — or simply don’t travel that often — this is a card you should consider, especially since the earning rate of the cardboard for top-tier customers is 2.625% on everyday purchases, which is one among the highest cash-type rewards returns available for general spend on any credit card.

© The Points Guy people that have at least $100,000 in deposits
You’ll maximize the Premium Rewards card if you’ll qualify for the Platinum Honors tier of Bank of America’s Preferred Rewards banking program by having $100,000 on deposit with the bank or its Merrill Lynch sibling. That’s plenty of money, and for a few folks, it’s not even within the realm of possibility. But confine mind that it’s not your balance in just one account that counts, but rather the combined balances across all of your accounts at the two institutions. meaning investment accounts, retirement accounts and even 529 plans all count toward qualifying for your Preferred Rewards tier.

People who spend a lot on travel and dining

While the rewards you’ll earn on everyday spend are excellent with this card, it really shines when it involves the earning rates on travel and dining purchases. While you’ll get 2.5 points per dollar on travel and dining at rock bottom Gold tier of Preferred Rewards, if you’ll make it all the way to Platinum Honors, you’re earning 3.5 points per dollar spent on every travel and dining transaction.

That’s better than the other cash-back card on the market when it comes to travel, and it even compares favorably with some high-end points and miles cards.

Who shouldn’t get the Bank of America Premium Rewards Card?

Even if you don’t fit into any of the above categories, you would possibly still be considering whether the Bank of America®️ Premium Rewards®️ card is a good choice. So as a part of your calculations, ask yourself if any of those apply to you:People who have $50,000 or less in investable assets

OK, so this one is clear . You shouldn’t get this card if you can’t put a minimum of $50,000 on deposit with Bank of America and/or Merrill Lynch. While having Platinum Honors status within the Preferred Rewards banking program is ideal to maximize this card, you’ll still earn an honest return with just Platinum status, which you get once you have between $50,000 and $99,999 on deposit. But with anything but that, you’re more happy with a different card.

People who focus on premium overseas travel

If you wish to use credit card rewards toward high-end international travel that you couldn’t afford otherwise, then this might not be the right card for you. The Premium Rewards system is straightforward — points are worth 1 cent each regardless of how you redeem them.

But the downside of that’s it would take millions of points to make up for the cost of an international first or business-class ticket, or a high-end hotel. Not everyone cares that type of travel, but if you are doing , it’s probably an honest idea to look elsewhere.

Again, the Premium Rewards card features a simple points system, but that also means you can’t transfer points to any airline or hotel partners. That’s fine for a few folks who aren’t interested in scrounging for limited award space or don’t want to chase the latest chart devaluation.

However, others like better to try and maximize their points by not having them tied to a fixed value. So if you enjoy finding high-value redemptions via transfer partners, then this card isn’t for you.

Bottom Line

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