Bank of America
Bank of America® Unlimited Cash Rewards Credit Card
Key Features
| Annual Fee | $0.00 |
| Sign-up Bonus | $250 cash rewards bonus |
| Rewards Rate | 1.5% cash back |
| 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. |
| Regular APR | Variable APR that's currently 17.74% to 27.74% will apply. 17.74% - 27.74% 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 5%. |
About this card
The Bank of America® Unlimited Cash Rewards Credit Card is a strong contender in the flat-rate cash back category, earning a 'Good' overall rating of 3.7. Its primary strengths are the compelling $0 annual fee, a generous $250 sign-up bonus for a no-annual-fee card, and highly flexible redemption options. Crucially, its rewards program truly shines for existing Bank of America Preferred Rewards members, offering an exceptional boost to the base 1.5% cash back rate, potentially reaching up to 2.625% (Rewards Rating: 4.2). This makes it an outstanding choice for those integrated into the Bank of America ecosystem. However, the card is held back by a few significant drawbacks. The regular variable APR, ranging from 17.74% to 27.74%, is on the higher side, especially the upper end, making it less ideal for carrying a balance (APR Rating: 2.8). Furthermore, while the no annual fee is a major plus, the card is penalized by a very high 5% ongoing balance transfer fee (after the intro period) and, as indicated by reputation analysis, the presence of a foreign transaction fee, which significantly reduces its utility for international travel and lowers its overall Fees Rating to 3.5. Its reputation is solid, particularly among its target audience of BofA customers. In summary, it offers excellent value for Bank of America Preferred Rewards members seeking simplicity and high cash back, but for general consumers, while solid, the high potential interest rates and foreign transaction fees are considerable limitations that prevent a higher, universally 'Excellent' rating.
Pros & Cons
What's great
- No annual fee
- Intro APR period
- Generous sign-up bonus
- High rewards rate
- Cashback on purchases
Things to consider
- High regular APR
- High balance transfer fee
What this card offers
Sign-up bonuses
- Limited-time online offer: $250 online cash rewards bonus offer
- Online $250 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
Rewards
- Earn unlimited 1.5% cash back on all purchases
Other features
- No limit to the amount of cash back you can earn and cash rewards do not expire as long as your account remains open
- Enjoy no annual fee while earning unlimited cash back on all purchases
- Enrich your experience as a Bank of America customer with the BofA Rewards program—starting with a rewards bonus on every credit card purchase.
- Redeem your cash rewards for any amount, anytime for statement credits to your credit card, deposits made directly into an eligible Bank of America checking or savings account, or to pay for purchases when you shop at Amazon.com or check out with PayPal
- 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.
- 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.
- Opt for paperless credit card statements and increase account security while reducing paper consumption.
- 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.
- 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.
- 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 offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now. Note: minimum payments are applied to lower-interest balances first. Additional payments are applied to higher-interest balances first. You can also call 800.932.2775 Priority code: WY0130