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.

• 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.

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.

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

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.

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 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.