What is a credit balance refund on the Bank of America Premium Rewards credit card? This question is about the Bank of America® Premium Rewards® credit card

What is a credit balance refund on the Bank of America Premium Rewards credit card?

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This question is about the Bank of America® Premium Rewards® credit card

Chip Lupo, Credit Card Writer

@CLoop • 01/20/22 This answer was first published on 01/20/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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A credit balance refund on the Bank of America® Premium Rewards® credit card is a reimbursement for paying more than the total balance owed on the credit card. For example, a cardholder who has a balance of $500, but pays $600, can get a credit balance refund of the $100 that they overpaid.

Cardholders can request a Bank of America Premium Rewards credit card credit balance refund: by phone (1-800-732-9194) or by sending a written request to Bank of America| PO Box 982234| El Paso, TX 79998-2234. They can get their refund in the form of a check. Legally, a credit card issuer is obligated to issue a credit balance refund within seven business days of your request for one.

Please note that you are not required to request a credit balance refund if you overpay your Bank of America Premium Rewards credit card. If you have a negative balance on your account, meaning you’ve paid more than you owe, future purchases will be credited until the balance is back to zero. If you maintain a negative credit balance for six months, Bank of America is required to offer you a refund.

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Does Bank of America Premium Rewards credit card have a 0% APR intro period for new purchases?

No, the Bank of America Premium Rewards credit card does not have a 0% APR intro period for new purchases. If you’re planning on making a large upcoming purchase and you don’t anticipate paying off the balance for a few months, the Bank of America Premium Rewards credit card is not a great credit card to use.

Alternatively, you can check out the ... read full answer best 0% APR credit cards of 2023, selected by WalletHub’s editors from 1,500+ offers. Just keep in mind that many cards with a 0% APR intro period for new purchases require good or excellent credit for approval. You can check your credit score for free on WalletHub to gauge your odds.

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Is The Bank of America Premium Rewards credit card a Visa or Mastercard?

The Bank of America® Premium Rewards® credit card is a Visa, not a Mastercard. You can use your Bank of America Premium Rewards credit card at nearly 11 million merchants that accept Visa nationwide, and you can use it abroad in more than 200 countries and territories.

There are a few differences between Visa and Mastercard credit cards, such as the network-level benefits they offer, but those differences are relatively small. The two card networks have a lot in common, including ... read full answer extensive worldwide acceptance. As a result, it’s more worthwhile to compare individual credit card offers than to focus on getting a card from a particular network.

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What is the Bank of America Premium Rewards credit card exchange rate?

The Bank of America Premium Rewards credit card exchange rate is Visa’s exchange rate on the date you make an international purchase. Visa exchange rates change on a daily basis, and they update these rates each day on their website.

While credit card exchange rates normally also include foreign transaction fees, the Bank of America Premium Rewards credit card does not charge foreign fees. This means the Bank of America Premium Rewards credit card will save cardholders 1.52% on purchases with international merchants, compared to the average credit card offer. As long as cardholders avoid ... read full answer dynamic currency conversion, the exchange rates they’ll pay on international spending with this card will be much lower than those they’d get from converting cash with banks, credit unions, or airport currency exchange services.

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