Bank of America® Visa® Cash Rewards credit card Review

This 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 review will provide you with with all the details you need 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 3% on balance transfers. For example, a balance of $1,000 could cost $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 have good approval odds.

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

This is a cashback card. This means you earn a percentage of your purchases as cash back rewards.

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

It 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?

It 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:

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

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.