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Community Rating |
Rating not yet determined |
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
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 eligible 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 relatively good approval odds.
The Good | The Bad |
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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.
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?
This card doesn't offer a cash signup bonus.Does Bank of America® Visa® Cash Rewards credit card offer an annual loyalty bonus?
This card doesn't offer a cash loyalty bonus.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?
According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has higher than average regular 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 intro APR offer on balance transfers?
No, it does not come with an intro APR offer for balance transfers.Does Bank of America® Visa® Cash Rewards credit card have an intro APR offer on new purchases?
This card does not offer an intro APR rate on new purchases.What are the fees for Bank of America® Visa® Cash Rewards credit card?
The following fees apply:
Fees | Amount |
---|---|
Annual Fee | $0 |
Foreign Transaction Fee | 3% |
Returned Payment Fee | up to $29 |
Late Payment Fee | up to $40 |
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 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 foreign transaction fees.What is the support contact email for Bank of America® Visa® Cash Rewards credit card?
The support contact email for Bank of America® Visa® Cash Rewards credit card is customerservicealert@bankofamerica.com.
How do people rate the customer service and user experience of Bank of America® Visa® Cash Rewards credit card?
We currently don't have sufficient reviews to provide a reliable SuperMoney community rating for this product.
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.
Contact
- Headquarters
-
100 North Tryon Street
Charlotte, NC 28255 - Visit Site
- Email Support
Other Services by Bank of America
Availability
- 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 |
Bank of America® Visa® Cash Rewards credit card Community Reviews
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