Bank of America provides various credit cards with travel and cash-back rewards. Responsible use can lead to rewards to offset expenses or plan future vacations. The best Bank of America credit cards share common features: excellent customer service, card security, fraud protection, low fees, and reasonable APRs. Eligible cardholders in the Preferred Rewards program can earn 25%-75% more rewards.
These credit cards offer no annual fees, generous welcome bonuses, and flexible redemption options, making them exceptional choices. Our list represents the top Bank of America credit card offers. Remember, while these cards are excellent, there may be other issuers with cards better suited to your needs. So choose wisely.
Bank of America® Customized Cash Rewards credit card
Earn 3% cash back in your chosen category. Get 2% cash back at grocery stores and wholesale clubs (on up to $2,500 in combined quarterly purchases). For all other purchases, receive 1% cash back without any annual fee. This card is perfect for those seeking maximum rewards where they spend the most.
No annual fee is charged. Rewards include 3% cash back in your chosen category, 2% at grocery stores and wholesale clubs (on up to $2,500 in combined quarterly purchases), and 1% on other purchases. Welcome bonus: Earn $200 cash rewards by spending $1,000 on purchases in the first 90 days of account opening. Foreign transaction fees are 3%. One major benefit of this card is flexibility, allowing users to select their preferred spending category and change it monthly. However, higher rewards rates are capped quarterly, making it less ideal for bigger spenders.
Bank of America® Premium Rewards® credit card
Earn 2 points per $1 on travel and dining purchases, and 1.5 points per $1 on other purchases. The card has a $95 annual fee, but the rewards can be valuable with regular use. You can enjoy 60,000 bonus points by spending $4,000 on purchases within the first 90 days of opening the account. There are no foreign transaction fees, which is a great benefit.
The Bank of America® Premium Rewards® credit card offers various travel protections and allows points redemption through its Travel Center. However, it lacks the ability to convert points to airline or hotel loyalty programs.
Bank of America® Unlimited Cash Rewards credit card
This card offers a flat 1.5% cash back on purchases without an annual fee. It’s ideal for those seeking a straightforward cash-back card. There are no rotating or bonus categories to keep track of.
The annual fee is $0, making it a cost-effective option. Rewards include 1.5% cash back on purchases. Moreover, a $200 cash rewards welcome bonus is provided if you spend $1,000 on purchases within the first 90 days of account opening.
However, there is a 3% foreign transaction fee to consider. On the positive side, the Unlimited Cash Rewards card doesn’t cap its rewards rates. Unlike other cards, the sky’s the limit with this one.
While there are no bonus categories, the simplicity of the rewards system can be appealing. Users who want hassle-free cash back might find it attractive.
Bank of America® Travel Rewards credit card for Students
Bank of America® offers a Travel Rewards credit card designed for students who want to earn travel points without worrying about bonus categories. The card comes with no annual fee and offers 1.5 points per $1 spent on purchases. New cardholders can also enjoy a welcome bonus of 25,000 points after spending $1,000 in the first 90 days of account opening. Plus, there’s no foreign transaction fee.
For students seeking cash back rewards, the Bank of America® Unlimited Cash Rewards credit card is a great option. With no annual fee and 1.5% cash back on purchases, it’s an excellent choice for building credit responsibly while earning rewards. New cardholders can receive a $200 cash reward after spending $1,000 on purchases within the first 90 days. However, keep in mind that there’s a 3% foreign transaction fee.
BankAmericard® credit card
A simple card with a long introductory APR period suits those seeking no annual fee convenience and credit card protection. The card charges no annual fee, offers no rewards or welcome bonus, and has a foreign transaction fee of 3%. However, individuals seeking relief from credit card interest can benefit from the card’s 0% intro APR for 21 billing cycles on purchases and balance transfers made within the first 60 days. Afterward, a variable APR of 15.99% to 25.99% applies. Additionally, a 3% fee is applicable to all balance transfers.
Should you get a Bank of America credit card?
Credit cards serve as valuable tools for personal financial planning, offering benefits like building credit and maximizing rewards. When used responsibly, they add substantial value to your finances. Bank of America provides a diverse range of credit cards, including cash back, travel, and points cards, all equipped with excellent digital tools and security features. These cards reward everyday spending while catering to various needs.
Bank of America’s credit card offerings extend beyond rewards. They include options like student and secured cards, ideal for those starting their financial journey or aiming to build credit. Additionally, the bank accommodates different preferences, ensuring there’s a suitable card for everyone, whether it’s college students or frequent travelers.
Before applying for a Bank of America credit card, individuals should understand their goals and desired benefits from the card. Some may prioritize interest relief, leading them to select a different card than those seeking cash-back rewards. Being clear about your needs will help you make the right choice.
The majority of Bank of America’s business credit cards are appealing, featuring no annual fees and straightforward reward structures. However, it’s essential to note that obtaining a personal credit card from the bank typically requires a good to excellent credit score. This factor can be a significant consideration for potential applicants.
Guide to Bank of America credit cards
When considering a new credit card from Bank of America, it’s essential to assess your spending habits and lifestyle beforehand due to the numerous available options. Before applying, make sure to check your personal credit score.
Once you have a clear idea of the type of card you need and the ones you might qualify for, the right credit card choice will become evident. The application process at Bank of America can be swift, with some approvals taking as little as 60 seconds, while others may take longer.
Comparing Bank of America credit cards
Bank of America offers a variety of credit card options, making its card comparison tool highly useful. This tool enables users to compare credit cards side-by-side, facilitating the search for the perfect fit. During the card comparison process, focus on features like rewards, APR, fees, welcome bonuses, annual fees, and additional perks or benefits. Understanding your personal spending habits and goals will help you narrow down the best card for your needs.
Who is Bank of America best for?
Bank of America offers a wide range of credit cards to choose from, catering to various needs and preferences. The bank’s credit card options are suitable for almost anyone looking to be associated with a well-established, FDIC-insured banking institution. Additionally, Bank of America Preferred Rewards is an attractive feature that makes these cards even more appealing, particularly for individuals who already have a banking or investment relationship with Bank of America.
Bank of America Preferred Rewards program
Bank of America offers a Preferred Rewards program to incentivize more business from clients in good standing. This program grants eligible customers additional reward points, higher interest rates on deposit accounts, and reduced fees. Numerous Bank of America credit cards qualify for the rewards program, allowing cardholders to enjoy tier-based bonuses with varying levels of benefits.
How to maximize your Preferred Rewards
If you wish to qualify for Preferred Rewards, it is essential to possess a Bank of America checking account. Additionally, you must maintain a combined total three-month average of $20,000 or more in any Bank of America deposit or Merrill investment accounts.
Being a Preferred Rewards member offers significant advantages, including the opportunity to earn 25% to 75% more points or cash back with qualifying rewards cards. However, keep in mind that Student and secured cards are ineligible for Preferred Rewards.
Bank of America’s Preferred Rewards program features four tiers, namely Gold, Platinum, Platinum Honors, and Diamond, each offering varying benefits. The higher the tier, the more favorable the benefits become. Your tier status depends on the amount of money you have in your Bank of America and Merrill accounts. As your account balances grow, your tier status will also improve.
