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  Bank of America Cash Rewards Credit Card

Bank of America Cash Rewards Credit Card

in Personal Credit Cards from Bank of America

Unaffiliated

Bank of America Cash Rewards Credit Card

Unaffiliated

in Personal Credit Cards from Bank of America

Net Recommendation Score +25% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

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Highlights
Highlights
Community Rating

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Balance Transfer APR  (Variable APR) 15.99% - 25.99%
Credit Score Range 640 - 850
Annual Fee $0
Purchase APR  (Variable APR) 15.99% - 25.99%

Bank of America Cash Rewards Credit Card Review

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

  • Generous reward rate. You can get a rewards rate of up to 3%.
  • 0% balance transfer intro rate. Offers an introductory APR rate on balance transfers of 0% for up to 15 months , which is longer than the average 0% APR period of 12 months.
  • Signup bonus. Offers a signup bonus of $200 if you spend $1000 within 3 months.
  • Competitive APRs. Bank of America Cash Rewards Credit Card has a variable purchase APR of up to 25.99%.
  • 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.
  • Accepts cosigners. Bank of America is one of the few credit card issuers that allows applicants to include a cosigner. Adding a cosigner can really improve your approval chances if your credit is not great.
  • Gas rewards.
  • Fair or better credit required. You stand a chance of qualifying if your credit score is not below 640.
The Good The Bad
  • 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings.
  • 2% cash back at grocery stores and wholesale clubs. Plus,
  • Introductory 0% APR for your first 15 billing cycles for purchases, and for any balance transfers made within 60 days of opening your account.
  • Lower than average purchase APRs.
  • No annual fee.
  • Has an introductory APR rate on balance transfers of 0%.
  • Earn rewards on every purchase.
  • Bank of America Cash Rewards Credit Card reports to multiple credit bureaus.
  • Free access to your credit score.
  • Only first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter earn 3% and 2% cash back.
  • Does not offer rewards or cash back.
  • Charges a foreign transaction fee of 3%.

Is there a Bank of America Cash Rewards Credit Card cash back or rewards program?

No, Bank of America Cash Rewards Credit Card does not offer a rewards program. Bank of America Cash Rewards Credit Card is a cashback card. This means you earn a percentage of your purchase as a cash reward. With Bank of America Cash Rewards Credit Card you receive 1% cash back on every purchase. For example, if you buy a $1,000 laptop, you will receive $10 back in cash. However, you can earn up to 3% for purchases in a bonus category.

What are the Bank of America Cash Rewards Credit Card benefits?

Bank of America Cash Rewards Credit Card provides the following benefits:

  • Free Credit Score
  • Zero fraud liability
  • No blackout dates when redeeming miles
  • ID Theft Protection
  • Reports to major credit bureaus

What are the relevant APRs for Bank of America 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 Cash Rewards Credit Card has lower than average purchase APRs.

Bank of America Cash Rewards Credit Card has a variable purchase APR that ranges from 15.99% up to 25.99%. The card has a variable balance transfer APR that ranges from 15.99% up to 25.99%. It also has a variable cash advance APR that ranges from 18.99% up to 26.99%. 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 Cash Rewards Credit Card have an introductory APR offer on balance transfers??

Yes, Bank of America Cash Rewards Credit Card offers an introductory APR rate on balance transfers of 0% for a period of up to 15 months.

Bank of America Cash Rewards Credit Card Balance Transfers
Description
Balance Transfer APR 15.99% - 25.99%
Introductory Rate 0%
Intro APR period (months) 15

Does Bank of America Cash Rewards Credit Card have an introductory APR offer on new purchases??

This card does offer an introductory APR rate of 0% on qualified purchases for a period of up to 15 months.

What are the Bank of America Cash Rewards Credit Card fees?

The following fees apply to Bank of America Cash Rewards Credit Card:

Bank of America Cash Rewards Credit Card Fees
Fees Amount
Annual Fee $0
Foreign Transaction Fee 3%
Balance Transfer Fee 3%
Minimum Balance Transfer Fee $10
Returned Payment Fee $28
Late Payment Fee $39

Does Bank of America Cash Rewards Credit Card have a foreign transaction fee?

Bank of America 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 Cash Rewards Credit Card report your account activity to credit bureaus?

Bank of America 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 can help improve your credit score.

How to apply for Bank of America Cash Rewards Credit Card

  • Visit the Bank of America 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 you're denied click here to find out why your application may have been rejected and what you can do about it.

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.

View Bank of America Cash Rewards Credit Card's published terms & conditions.
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...

Availability

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

Every Purchase (Points) 1% cash back on all other purchases
No Annual Fee  
Annual Fee $0
No Interest Grace Period for Late Payment 25
Cash Advance Fee Minimum $10
Cash Advance Fee (%) 3%
Foreign Currency Transaction Fee 3%
Minimum Interest Charge $1.50
Returned Payment Fee $28
Balance Transfer Fee Minimum $10
Balance Transfer Fee % 3%
Late Fee Amount $39
Customer Type Personal
Minimum Age 18
Co-signing Allowed  
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • Tax Returns
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Card Type
  • Balance Transfer
  • Bonus Offers
  • Cashback
  • Gas
  • Zero Percent
Card Network
  • Mastercard
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Fraud Liability  
Credit Card Benefits
  • Fraud Liability
  • Free Credit Score
  • Identity Theft Protection
Free FICO Score  
Bonus Rewards $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
No Reward Expiration Period  
No Blackout Dates  
Rewards Categories
  • Drug Store Purchases
  • Every Purchase
  • Gas
  • Groceries
  • Home Improvement Purchases
  • Restaurants
  • Warehouse Clubs Purchases
Signup Bonus $200
Rewards Type Cash Back
Cash Advance APR (Variable APR) 18.99% - 26.99%
Purchase APR (Variable APR) 15.99% - 25.99%
Introductory Rate 0%
Balance Computation average daily balance (including new purchases)
Penalty APR 29.99%
Intro APR period 15
Balance Transfer APR (Variable APR) 15.99% - 25.99%
Introductory Rate 0%
Intro APR period 15

Bank of America Cash Rewards Credit Card Community Reviews

 

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