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Bank of America® Cash Rewards Credit Card

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Bank of America® Cash Rewards Credit Card

 

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  • Regular Purchase APR

    13.99% - 23.99% Variable APR

  • Intro Purchase APR

    0% Introductory APR on purchases for 12 billing cycles

  • Intro BT APR

    0% Intro APR for 12 billing cycles for balance transfers made in the first 60 days

  • Typical Credit Needed

    500

    600

    700

    850

  • Annual Fee

    $0

  • Card Brand

    Visa®

Highlights

  • Click "APPLY NOW" to apply online or call 800-791-5562
  • No annual fee
  • $150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
  • Earn 1% cash back on every purchase, 2% at grocery stores and wholesale clubs, and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter
  • No changing categories and no expiration on rewards
  • 0% Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days, then, 13.99% - 23.99% Variable APR. 3% fee (min $10) applies to balance transfers
  • Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account
  • If you're a Preferred Rewards client, you can increase that bonus to 25% - 75%

Card Fees

  • Late Payment Fees

    Up to $38

  • Foreign Transaction Fee

    3%

  • Balance Transfer Fee

    3% of the amount of each transaction or $10, whichever is greater.

  • Returned Payment Fee

    Up to $27

  • Penalty APR

    Up to 29.99% APR

  • Minimum Interest Charge

    $1.50

Additional Card Details

  • $0 Fraud Liability

    Yes

  • Auto Rental Insurance

    Yes

  • Extended Warranty Program

    Yes

  • Roadside Assistance

    Yes

  • Purchase Protection

    Yes

  • Travel Assistance

    Yes

  • Flight Accident Insurance

    Yes

  • Lost Luggage Reimbursement

    Yes

  • Concierge Service

    Yes


Expert Reviews

  • Regular APR

    4.5

  • Intro APR

    4.5

  • Fees

    4.5

  • Benefits

    4.5

  • Overall Rating

    4.5 /5

From the CompareCards.com Editorial Team

The Bank of America® Cash Rewards Credit Card is currently offering a $150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening - that’s an appealing offer. Cardholders will enjoy an intro APR of 0% Introductory APR on purchases for 12 billing cycles and 0% Intro APR for 12 billing cycles for balance transfers made in the first 60 days, then 13.99% - 23.99% Variable APR.

There is also no annual fee associated with this card and you earn great cash back rewards with every purchase: 1% cash back on every purchase, 2% at grocery stores and wholesale clubs, and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter. Redeeming your cash back is easy - you can set up your account to receive your cash back by direct deposit to a checking or savings account, have it credited to your statement or sent to you by check.

You can even get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account. And if you're a Preferred Rewards client, that bonus increases to 25% - 75%. Overall, the Bank of America® Cash Rewards Credit Card is a generous cash rewards credit card with something for everyone to love.

If you prefer the personal touch of a phone call when you apply for a credit card or have a question on your account, Bank of America goes the extra mile. You can expect an “an outstanding customer service experience” for the live phone channel, according to the May 2017 certification by J.D. Power.

The Bottom Line

The Bank of America® Cash Rewards Credit Card is a good rewards card that offers a chance to earn fantastic cash rewards rates on your spending. There are other features like overdraft protection, too, and the interest rate is reasonable. Bank of America customers also get to enjoy an ongoing 10% cash rewards bonus when redeeming rewards directly into a Bank of America® checking or savings account.

The Good

If earning cash back is your goal, the Bank of America® Cash Rewards Credit Card is a good option for you. You can earn cash back on everything you buy and receive it in fast, easy, convenient ways and rewards do not expire.

The Not So Good

It’s a solid rewards card, but if you like to travel overseas, be aware that transactions made in a foreign currency and transactions made in U.S. dollars that are processed outside the United States are subject to a heavy surcharge of 3%.


Editorial Note: This content is not provided by Bank of America. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by Bank of America.

Expert Reviews of the Bank of America® Cash Rewards Credit Card

  • Regular APR

    4.5

  • Intro APR

    4.5

  • Fees

    4.5

  • Benefits

    4.5

  • Overall Rating

    4.5 /5


Consumer Reviews 0 Reviews

Your Rating

There is nothing we value more than the opinions of our customers. We encourage open discussions among all users and hope we can all share advice. Please keep our site clean and safe by following our posting guidelines and please, don’t disclose personal information like your credit card numbers or account information.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

+-4 users submitted a rating without a full review

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By: | Mar 21, 2016

i've had this card for many years now. it was once the very best cash back offer out there. if you are big on gas & groceries it still can be, even more if you bank with BofA. always liked the card and the service and definitely a keeper.

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By: | Mar 21, 2016

This card is SOOO useful, if for nothing else, for the fact that you can use the ShopSafe feature to generate random credit card numbers on the fly when buying online. This allows you to buy with confidence from a site that you may not completely trust with you credit card information. You set your own expiration date and max credit limit for the individual credit number you generate (which is then linked back to your real account). So no matter what, that card cannot be charged after the expiration or for more than what you specify! Brilliant! And the cash rewards are a nice bonus, but I usually just put that as a credit towards my balance.Info on ShopSafe:https://www.bankofamerica.com/privacy/accounts-cards/shopsafe.go

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By: | Mar 21, 2016

I opened this card as a way to pay off the last bit of credit card debt I had with a balance transfer. I set up an automatic monthly payment to be sure the balance would be paid off by the end of the 0% introductory period. What's great is since all of my payments are made automatically on time Bank of America chips in a bit with the "Cash Back"!

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By: | Mar 9, 2016

This isn't the coolest looking card to pull out of your wallet, but it earns cash back FAST. The gas & grocery cash back rate is great and doesn't change like other cards.


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