The Bank of America Premium Rewards credit card does not have purchase protection anymore, since the benefit was removed as part of an industry-wide shift away from traditional secondary perks on credit card offers. This is pretty common, unfortunately, as only around half of the major credit card issuers still offer purchase protection on at least one of their credit cards.
Although the Bank of America Premium Rewards credit card doesn’t have purchase protection, applying could still make a lot of sense in the right situation. The Bank of America Premium Rewards credit card has 50,000 bonus points and $0 foreign fee. It also has an annual fee of $95. All in all, the Bank of America Premium Rewards credit card is a good card for people who have excellent credit who spend at least $1,000 per month and like to travel as well as dine out.
Yes, the Bank of America Premium Rewards credit card does offer extended warranty protection. The Bank of America Premium Rewards credit card extended warranty policy will lengthen the original manufacturer’s warranty by up to 1 extra year for warranties of 3 years or less. The maximum coverage amount per item under the Bank of America Premium Rewards credit card extended warranty policy is $10,000. The maximum coverage amount per cardholder under this policy is $50,000.… read full answer
Bank of America Premium Rewards credit card extended warranty protection does not cover motorized vehicles, live animals, live plants, or used items, among other things. For more details on this perk’s terms and conditions, refer to the guide to benefits that came with your Bank of America Premium Rewards credit card or ask Bank of America customer service.
In addition to extended warranty coverage, the Bank of America Premium Rewards credit card offers purchase protection, travel insurance, and rental car insurance. It also has an annual fee of $95. All in all, the Bank of America Premium Rewards credit card is a good credit card for people who spend heavily on their credit card each year.
The Bank of America® Premium Rewards® credit card categories for bonus rewards are travel and dining. Purchases that fall into the Bank of America Premium Rewards credit card bonus categories get cardholders extra rewards compared to the card’s base earning rate.
Whether a purchase falls into a card’s bonus categories depends on “Merchant Category Codes,” which are assigned by the major credit card networks to merchants based on what kind of business they conduct. So if a merchant has the MCC for “travel,” for example, purchases made at that merchant will earn bonus rewards on cards that include “travel” as a bonus category.… read full answer
When choosing a rewards credit card, it’s a good idea to pick a card that offers the opportunity to earn bonus rewards in your most frequent purchase categories. So if you spend a lot in the categories offered on the Bank of America Premium Rewards credit card, it may be a good card for you.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Bank of America Premium Rewards credit card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.… read full answer
If you excel in other areas, you might be able to get approved with a slightly lower credit score in some cases. But it’s best to wait to apply until you meet the Bank of America Premium Rewards credit card credit score requirement. You can check your credit score for free on WalletHub.
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