WATCH ME APPLY! 75K Bank of America Premium Rewards ELITE!

I’m applying for the Bank of America Business Premium Rewards ELITE card with a BIG 75K offer! I’ll walk you through the application, show you my credit score, and more. Did I get approved? Watch to find out! Click “Show More” to see Ad Disclosure.Show more

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There are a number of premium travel credit cards on the market right now, including the Chase Sapphire Reserve, Amex Platinum Card, and Capital One Venture X. More recently, Bank of America decided to get into the game and launched their Premium Rewards Elite card. Since the moment it was released until June 2023, it had a 50,000 point welcome offer, which didn’t cover the cost of the $550 annual fee.

But NOW it has an elevated offer of 75,000 points (finally!) worth $750 towards travel or cash back. That more than covers the annual fee, and then the other benefits add value from there. The spend requirement is $5,000 within the first 90 days to earn that bonus.

The Bank of America Premium Rewards Elite card also earns 2X points on Travel and Dining, plus 1.5X points on all other purchases. It’s not a good rewards structure on its own, though it does get a lot more competitive if you’re also in the Bank of America Preferred Rewards program (granting an additional 25%, 50%, or 75% boost on those earning rates depending on the level you’re at). That said, without the BOA Preferred Rewards program in place, cards like the Chase Sapphire Preferred, Capital One Venture X, or Amex Platinum Card will be better options to have if you frequently spend money on airfare or want access to transfer partners for higher value redemptions.

🔗 Learn more about the Bank of America Preferred Rewards program here:
https://promotions.bankofamerica.com/preferredrewards/en

As for the Bank of America Premium Rewards Elite benefits, it comes with up to $550 in statement credits (all automatically issued). It offers up to $300 toward airline incidental charges (like seat upgrades, baggage fees, airline lounge fees, and in-flight services), a $150 Lifestyle Credit (for things like video streaming services, food delivery, fitness subscriptions, and rideshare services), and a $100 TSA PreCheck or Global Entry credit every 4 years.

Additionally, when you redeem Bank of America points for airfare, you’ll get a 20% discount when you pay with points via the Bank of America travel portal.

The card also includes a Priority Pass Select membership for access to airport lounges (and partner restaurant and retail locations), among other benefits.

My credit score was 766 on Experian, 807 on TransUnion, and 817 on Equifax.

I had 11 inquiries on Experian, 5 inquiries on TransUnion, and 2 inquiries on Equifax.

In terms of how many newly opened accounts that appeared on my Experian credit report, I had 2 in the past 6 months, 6 in the past 12 months, and 8 in the past 24 months. Bank of America pulled Experian for my personal credit card application in my region.

My average age of credit history was 4 years 5 months.

My Bank of America relationship consisted of 1 personal checking account, 1 personal savings account, 1 personal credit card, and 2 business credit cards.

🔗 Doctor of Credit article - Bank of America 7/12 Rule | Bank of America 3/12 Rule
https://www.doctorofcredit.com/report-bank-of-america-7-12-rule-3-12-rule-for-new-cards/

Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.

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