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Bank of America Cash Rewards Credit Card

Requires sign in
Rewards Rate
3% cash back in the category of your choice (gas, dining, travel, etc.), 2% cash back at grocery stores and wholesale clubs, 1% cash back on all other purchases
Welcome Offer
$200 cash back after spending $1,000 in the first 90 days
Typical Credit Score
Excellent, Good
Bank of America Cash Rewards Credit Card
Bank of America Cash Rewards Credit Card
Details
  • Click APPLY NOW to securely apply online.
  • No annual fee

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening

  • Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases

  • 0% Introductory APR for 12 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99% - 23.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers

  • No expiration on rewards

  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase

  • Contactless Cards - The security of a chip card, with the convenience of a tap

  • Foreign transaction fee
  • No rewards system
  • Penalty APR of up to 29.99%
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Bank of America Cash Rewards Credit Card Review

Who is the Bank of America Cash Rewards Credit Card for?

The Bank of America Cash Rewards Credit Card suits any cardowner looking for generous cash back offers without paying an annual fee. This card gives you the chance to be in control of how you earn your rewards. You will earn 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs, and an unlimited 1% cash back on all other purchases. Note that the 3% and 2% cash back categories are limited to the first $2,500 in combined purchases every 3 months.

This card comes with no annual fee, making it beneficial for everyone since no money is leaving their pockets. If you are already a Bank of America Preferred Rewards member, you will receive even greater rewards.

We recommend this card for anyone who wants cash back but does not want to pay for it. This free card can be paired with travel cards to maximize rewards and cash back whether you are at home or abroad.

Signing Bonus

Once you spend $1,000 with your credit card, you will receive a $200 online cash rewards bonus. For no annual fee, you are being rewarded with $200 of cash rewards which can be spent on whatever you choose. Bank of America is practically paying you to use their credit card, and ultimately this early bonus makes the card very valuable.

Cash Back

The Bank of America Cash Rewards Credit card offers 3% cash back on a category of your choosing, 2% cash back on grocery store and wholesale club purchases, and 1% cash back on all other purchases. Thus, if you know you will be spending a lot of money at gas stations, you can choose gas stations as your 3% cash back category and thus truly maximize your rewards.

For example, if you were going on a trip to the grocery store and filled up gas on the way, you could fill up your tank on the way for $30, receive $3 back, and then spend $50 at the grocery store and receive another dollar back. This simple trip to the store would make you $4, highlighting the benefits of this card.

No Annual Fee

Cardholders can enjoy all of these benefits at no annual cost, making this card perfect for everyday purchases. Since this card is free, it makes sense to use it on everyday transactions, especially on items in the category that you choose for 3% cash back. If you use this card on items that you will receive high cash back rates and then pair it with another Bank of America rewards card for specialized and international spending, you will be able to maximize your rewards at no additional cost.

Benefits

Savvy cardholders will take advantage of Bank of America’s Preferred Rewards Membership, which supercharges rewards earning potential. That means the 3% choice category could go up to 5.25%, the 2% at grocery stores and wholesale clubs could go up to 3.5%, and the 1% for all other purchases could go up to 1.75%. If you already bank with BofA, you will qualify for either 25%, 50%, or 75% more cash back rewards -- which can push this card ahead of all others in the cash back rewards category.

The Bank of America Cash Rewards card also offers a compelling introductory 0% APR for your first 15 billing cycles for purchases, and for any balance transfers made within 60 days of opening your account. After the introductory APR offer ends, the card offers a competitive 15.49% to 25.49% APR. Note, however, that a 3% fee applies to all balance transfers.

Protections

Bank of America also offers a variety of protection packages. You will receive a $0 liability guarantee on any fraudulent charges, which Bank of America will block immediately. Also, Bank of America uses chip technology enhancing security. This technology can be used in over 130 countries. 

You can choose to set up account alerts for whatever purposes you may need them for. This will allow you to stay on top of your balances and due dates. You will also be able to choose how you receive these alerts. These options include emails and text alerts, which will let you know when payments are due or paid. 

Technology

This card also offers access to Bank of America’s award-winning Online and Mobile banking. You can bank from anywhere easily and safely and pay your bills online, transfer funds, and much more. You can also use Digital Wallets technology in order to easily purchase items online.

Conclusion

This card works for everyday purchases and pairs nicely with travel rewards credit cards at no annual cost. Receiving 3% cash back on a category of your choice allows you to decide how you will optimize your cash back. Especially if you are a Bank of America Preferred Rewards member, you can use this card to bring in money, and with 0% APR for 15 months you will be able to save money without spending money.

Complete Card Details
Rewards Rate
3% cash back in the category of your choice (gas, dining, travel, etc.), 2% cash back at grocery stores and wholesale clubs, 1% cash back on all other purchases
Welcome Bonus
$200 cash back after spending $1,000 in the first 90 days
Typical Credit Score
Excellent, Good
Intro Annual Fee
N/A
Annual Fee
N/A
Additional User Annual Fee
N/A
Foreign Transaction Fee
3%
Intro Purchase APR
0%
Regular Purchase APR
13.99% - 23.99%
Cash Advance Fee
5%
Cash Advance APR
16.99% - 26.99%
Late Fee
Up to $40
Intro Balance Transfer APR
0%
Regular Balance Transfer APR
13.99% - 23.99%
Penalty APR
Up to 29.99%
Balance Transfer Fee
3%
Return Payment Fee
Up to $29
Minimum Deposit
N/A
Credit Card Network
Visa
Credit Card Issuer
Bank of America
Bank of America Cash Rewards Credit Card FAQ

What is the minimum credit score required to apply for Bank of America Cash Rewards Credit Card?

A credit score of 670 is required to be eligible for Bank of America Cash Rewards Credit Card.

What is the minimum deposit required for Bank of America Cash Rewards Credit Card?

There is no minimum deposit required for this credit card.

What is the Intro Annual Fee for Bank of America Cash Rewards Credit Card

The Intro Annual Fee for Bank of America Cash Rewards Credit Card is not available at the moment. Please check the terms for more details.

What is the Annual Fee for Bank of America Cash Rewards Credit Card

The Annual Fee for Bank of America Cash Rewards Credit Card is not available at the moment. Please check the terms for more details.

What is the Intro Purchase APR for Bank of America Cash Rewards Credit Card

The Intro Purchase APR for Bank of America Cash Rewards Credit Card is 0%.

What is the Regular Purchase APR for Bank of America Cash Rewards Credit Card

The Regular Purchase APR for this credit card is 13.99% - 23.99%.

What is the Intro Balance Transfer APR for Bank of America Cash Rewards Credit Card

The Intro Balance Transfer APR for this credit card is 0%.

What is the Regular Balance Transfer APR for Bank of America Cash Rewards Credit Card

The Regular Balance Transfer APR for Bank of America Cash Rewards Credit Card is 13.99% - 23.99%.

What is the Cash Advance APR for Bank of America Cash Rewards Credit Card

The Cash Advance APR for Bank of America Cash Rewards Credit Card is 16.99% - 26.99%.

What is the Cash Advance Fee for Bank of America Cash Rewards Credit Card

The Cash Advance Fee for this credit card is 5%.

What is the Late Fee for Bank of America Cash Rewards Credit Card

The Late Fee for this credit card is up to $40.

What is the Penalty APR for Bank of America Cash Rewards Credit Card

The Penalty APR for this credit card is up to 29.99%.

What is the Balance Transfer Fee for Bank of America Cash Rewards Credit Card

The Balance Transfer Fee for Bank of America Cash Rewards Credit Card is 3%.

What is the Min. Balance Transfer Fee for Bank of America Cash Rewards Credit Card

The Min. Balance Transfer Fee for this credit card is $10.

What is the Foreign Transaction Fee for Bank of America Cash Rewards Credit Card

The Foreign Transaction Fee for Bank of America Cash Rewards Credit Card is 3%.

What is the Return Payment Fee for Bank of America Cash Rewards Credit Card

The Return Payment Fee for Bank of America Cash Rewards Credit Card is up to $29.
$738
$1,065
$261
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