Bank of America
Bank of America® Customized Cash Rewards Credit Card for Students
Key Features
| Annual Fee | $0.00 |
| Intro APR | 0% Intro APR for your first 15 billing cycles for purchases, and for any balance transfers made within the first 60 days of opening your account. After the intro APR offer ends, a Variable APR that's currently 17.49% to 27.49% will apply. |
| Regular APR | 17.49% - 27.49% variable |
| Other Fees | 3% of each transaction intro balance transfer fee for the first 60 days your account is open. After the intro balance transfer fee offer ends, the fee for all future balance transfers is 4%. |
About this card
The Bank of America® Customized Cash Rewards Credit Card for Students is a decent option for students looking to build credit and earn rewards. Its strengths include the customizable 3% cash back category, the $200 sign-up bonus, and the absence of an annual fee. However, the card's high APR range (17.49% - 27.49% variable) and the limited quarterly spending cap on bonus rewards are considerable drawbacks. While Bank of America has a strong reputation, this particular card may be difficult for students with limited credit history to obtain. Considering the balance of strengths and weaknesses, the card earns an overall rating of 3.2 out of 5. It's a good choice for students who can manage their spending and avoid carrying a balance, but those who need more flexibility with payments or who plan to spend heavily in bonus categories may find it less appealing.
Pros & Cons
What's great
- No annual fee
- Intro APR period
- Generous sign-up bonus
- Cashback on purchases
- Rotating bonus categories
Things to consider
- High regular APR
- Limited rewards categories
- High balance transfer fee
- Limited quarterly maximum
What this card offers
Sign-up bonuses
- Plus, a $200 online cash rewards bonus offer.
- Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
Rewards
- Earn 3% cash back + 3% first-year cash back bonus in the category of your choice
- Automatic 2% cash back at grocery stores and wholesale clubs
- Unlimited 1% cash back on all other purchases
- Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
Other features
- Bank of America Preferred Rewards® members earn 25%-75% more cash back on every purchase.
- Preferred Rewards bonuses are not applied to the 3% first-year bonus.
- There's no annual fee and your cash rewards don't expire as long as your account remains open.
- We block potential fraud if abnormal patterns are detected and let you know if we suspect fraudulent activity. Plus, you always get a $0 Liability Guarantee for fraudulent transactions.
- Balance Connect® for overdraft protection: An optional service to help prevent declined purchases, returned checks or other overdrafts when you link your eligible Bank of America® checking account to your credit card. No transfer fees. Other fees may apply.
- Paperless Statement Option: Opt for paperless credit card statements and increase account security while reducing paper consumption.
- Digital Wallet Technology: Discover more ways to pay by adding your Bank of America® credit card to your mobile device then shop in-store or in-app using Apple Pay®, Google Pay™ or Samsung Pay.
- Online & Mobile Banking: Access to our award-winning Online and Mobile Banking. Bank on the go from almost anywhere quickly and securely. Pay your credit card bill online, transfer funds, check available credit and more.
- Account Alerts: Stay on top of your balances and due dates. Choose from several types of customer email or text alerts and let your phone tell you when payments are due and paid.
Additional Notes
This online only offer may not be available if you leave this page, if you visit a Bank of America financial center or call the bank. You can take advantage of this offer when you apply now. Balance transfers may not be used to pay any account provided by Bank of America. Note: minimum payments are applied to lower-interest balances first. Additional payments are applied to higher-interest balances first.