Chip Lupo, Credit Card Writer
@CLoop
Yes, you can upgrade your Bank of America® Premium Rewards® credit card to a better offer as long as you’ve had the card for at least several months, and you will have the best odds if your credit score and income have gone up since you applied. To see if your Bank of America Premium Rewards credit card qualifies for an upgrade, call customer service at 1-800-732-9194. Bank of America also periodically sends targeted upgrade offers to existing cardholders by mail and email.
Bank of America Premium Rewards credit card Upgrade: What You Should Know
- Bank of America does not state a specific amount of time the card account must be open before it's eligible for an upgrade, but it's a good idea to wait at least 6 months before requesting an upgrade.
- A history of on-time payments and low credit utilization increases your chances of getting an upgrade.
- Bank of America only allows upgrades to cards within the same card family. For example, you cannot upgrade from Bank of America Premium Rewards credit card to a business card or co-branded card.
- If you upgrade to a Bank of America card with an annual fee, the charge will appear on the new card's first monthly statement.
- If you're eligible for a refund on your Bank of America Premium Rewards credit card annual fee, Bank of America will pro-rate the amount of your refund, based on how long it's been since the fee posted to your original account.
- You will not be eligible for any initial bonus offers or introductory 0% APR offers associated with the new card, unless they’re included as part of the upgrade offer.
- Bank of America Premium Rewards credit card upgrades do not require a hard inquiry on your credit report, so there’s no effect on your credit score.
A Bank of America Premium Rewards credit card upgrade typically takes just a few minutes. If you are approved, you should receive your card within 10 days from the approval date. Your card number may change, and your new card will come with an updated expiration date and security code.
Keep in mind that you will be able to use your old card until the new one arrives, and it will have all the benefits of the new card as soon as the upgrade is complete. Unless stated otherwise in the upgrade terms, your current APR, and any unredeemed rewards will carry over to the new card.
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People also ask
How can I get a Bank of America Premium Rewards credit card cash advance?
To get a Bank of America Premium Rewards credit card cash advance:
- Call Bank of America customer service at the number on the back of your card and request a PIN, if you don’t already have one.
- Insert the credit card at an ATM and enter the PIN.
- Select the cash advance option on the ATM screen.
- Enter the amount you’d like to withdraw.
- Withdraw the cash and remove the credit card from the ATM....
How do you get a credit card annual fee waived?
You can get your credit card annual fee waived by getting a credit card that waives the annual fee during the first year as a promotion, or one with no annual fee at all. Alternatively, you can call the issuer’s retention line, but it is not guaranteed that it will work. Beyond that, you’re unlikely to get your credit card’s annual fee waived unless you’re an active-duty member of the military.
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