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  Bank of America® Visa® Cash Rewards credit card

Bank of America® Visa® Cash Rewards credit card

in Personal Credit Cards from Bank of America

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Bank of America® Visa® Cash Rewards credit card

Unaffiliated

in Personal Credit Cards from Bank of America

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Highlights
Purchase APR  (Variable APR) 23.99%
Balance Transfer APR  (Variable APR) 23.99%
Credit Score Range 350 - 600
Annual Fee $0

Bank of America® Visa® Cash Rewards credit card Review

Bank of America® Visa® Cash Rewards credit card is a secured credit card cashback credit card issued by Bank of America. If you're wondering whether Bank of America® Visa® Cash Rewards credit card is the right card for you, read on. This is everything you need to know to make a good choice.

Key Takeaways
  • High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 23.99%
  • No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your purchases, but you don't have to pay an annual fee for the privilege.
  • 3% Balance transfer fee. Bank of America® Visa® Cash Rewards credit card charges a fee of up to 3% on balance transfers. For example, a balance of $1,000 could cost up to $30 in transfer fees. The minimum fee is $10.
  • Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
  • Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.
  • Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still qualify.
Bank of America® Visa® Cash Rewards credit card Pros & Cons
The Good The Bad
  • No annual fee.
  • Identity Theft Protection.
  • Considers applicants with fair or poor credit.
  • Cardholders can earn rewards on purchases everywhere Bank of America® Visa® Cash Rewards credit card is accepted.
  • Bank of America® Visa® Cash Rewards credit card reports to multiple credit bureaus.
  • Higher than average purchase APRs.
  • Does not offer a signup bonus.
  • Charges a foreign transaction fee of 3%.
  • Rewards bonus rate of only 1% on most everyday purchases. Terms apply*.
  • Charges a 3% balance transfer fee.
  • Does not include many credit card benefits.
Bank of America® Visa® Cash Rewards credit card FAQ

Is there a Bank of America® Visa® Cash Rewards credit card cash back or rewards program?

Bank of America® Visa® Cash Rewards credit card is a cashback card. This means you earn a percentage of your purchase as a cash reward.

Bank of America® Visa® Cash Rewards credit card Rewards
Rewards rate (all purchases) N/A
Max rewards rate 1x
Annual rewards limit N/A

Does Bank of America® Visa® Cash Rewards credit card have a signup bonus?

Bank of America® Visa® Cash Rewards credit card doesn't offer a cash signup bonus.

Does Bank of America® Visa® Cash Rewards credit card offer an annual loyalty bonus?

Bank of America® Visa® Cash Rewards credit card doesn't offer a cash loyalty bonus.

What are the Bank of America® Visa® Cash Rewards credit card benefits?

Bank of America® Visa® Cash Rewards credit card provides the following benefits:

  • Zero fraud liability
  • Reports to major credit bureaus

What are the relevant APRs for Bank of America® Visa® Cash Rewards credit card?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. Bank of America® Visa® Cash Rewards credit card has higher than average purchase APRs.

Bank of America® Visa® Cash Rewards credit card has a variable purchase APR of 23.99%. The card has a variable balance transfer APR of 23.99% . It also has a variable cash advance APR that ranges from 26.99% up to 27.24%. Note that late payments are subject to an APR of 29.99% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

Does Bank of America® Visa® Cash Rewards credit card have an introductory APR offer on balance transfers?

No, Bank of America® Visa® Cash Rewards credit card does not come with an introductory APR offer for balance transfers.

Does Bank of America® Visa® Cash Rewards credit card have an introductory APR offer on new purchases?

Bank of America® Visa® Cash Rewards credit card does not offer an introductory rate on new purchases.
Bank of America® Visa® Cash Rewards credit card Purchase Intro Offer
Description

What are the fees for Bank of America® Visa® Cash Rewards credit card?

The following fees apply to Bank of America® Visa® Cash Rewards credit card:

Bank of America® Visa® Cash Rewards credit card Fees
Fees Amount
Annual Fee $0
Foreign Transaction Fee 3%
Returned Payment Fee up to $29
Late Payment Fee up to $40

Does Bank of America® Visa® Cash Rewards credit card have a foreign transaction fee?

Bank of America® Visa® Cash Rewards credit card charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge a foreign transaction fee.

Does Bank of America® Visa® Cash Rewards credit card report your account activity to credit bureaus?

Yes, Bank of America® Visa® Cash Rewards credit card reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Bank of America® Visa® Cash Rewards credit card

  • Visit the Bank of America® Visa® Cash Rewards credit card website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
  • Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Annual Fee
Annual Fee $0
No Interest Grace Period for Late Payment 25 days
Cash Advance Fee Minimum $10
Cash Advance Fee (%) 3% - 5%
Minimum Cash Advance Fee ($) Starting at $10
Foreign Currency Transaction Fee 3%
Minimum Interest Charge $1.50
Returned Payment Fee Up to $29
Late Fee Amount Up to $40
Customer Type Personal
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 350 - 600
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Fraud Liability
  • Identity Theft Protection
No Reward Expiration Period
Rewards Rates
  • Every Purchase
  • Travel
  • Restaurants
  • Hotels
  • Airfare
  • Home Improvement Purchases
  • Groceries
  • Gas
  • Furniture
  • Drug Store Purchases
  • Online
Security Deposit $300 - $4,900
Cash Advance APR (Variable APR) 26.99% - 27.24%
Balance Computation Average daily balance (including new purchases).
Penalty APR (Variable APR) 29.99%
Purchase APR (Variable APR) 23.99%
Balance Transfer APR (Variable APR) 23.99%
Balance Transfer Fee Minimum $10
Balance Transfer Fee % 3%
Card Type
  • Rewards
  • Secured
  • Cashback
  • Bad Credit
Card Network Visa

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SUPERMONEY NET RECOMMENDATION SCORE

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