Bank of America Cash Back Credit Card: A Comprehensive Review

The Bank of America Cash Back Credit Card is a popular choice among those looking to earn rewards on their everyday purchases. It offers a competitive cash back rate of 3% on gas and 2% on groceries and other purchases.

To be eligible for the card, you'll need to have a Bank of America account and a good credit score. The card also comes with a $0 annual fee, making it a great option for those who want to avoid paying extra fees.

The card's cash back rewards are earned as a percentage of your purchase, and you can redeem them for statement credits, bank deposits, or gift cards. You can also use the rewards to pay for travel expenses, making it a great option for frequent travelers.

The Bank of America cash back credit card offers a range of features that make it a great option for those looking to earn rewards on their purchases.

The card type is a cash back credit card, which means you'll earn rewards in the form of cash back on your purchases. The annual fee is $0, making it a great option for those who want to earn rewards without paying a fee. You'll also earn a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.

You can choose from six different 3% back bonus categories, including gas, online shopping, dining, travel, drugstores, and home improvement and furnishings. You can change this category up to once a month, and your selected category will remain the same from month to month unless you change it.

Here are the 3% back bonus categories:

The Bank of America Customized Cash Rewards credit card has a lot to offer. The card type is a cash back card, which means you earn rewards in the form of cash.

The annual fee is $0, making it a great option for those who want to earn rewards without paying a fee. The sign-up bonus is $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.

The card offers 3% back on a category of your choice, which can be changed up to once a month. You can choose from six options: gas/EV charging, online shopping, dining, travel, drugstores, or home improvement and furnishings.

Here are the six options for the 3% back bonus category:

You'll earn 2% back on grocery stores and wholesale clubs for the first $2,500 of combined bonus category/grocery store/wholesale club spending per quarter, and 1% back on all other purchases.

The APR is 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After that, a Variable APR that's currently 18.24%-28.24% will apply.

Cardholders who are eligible for the Bank of America Preferred Rewards program can earn higher rewards rates, with a 25% to 75% increase in cash-back rates.

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With our credit card, you can add your card to digital wallets like Apple Pay, Google Pay, or Samsung Pay for in-person, online, or in-app transactions.

This can be a more secure and convenient way to make purchases, as your actual card number isn't stored on your device or shared with most merchants.

You can use your digital wallet to make purchases at a wide range of merchants, both online and in-person.

Your digital wallet will automatically update your card information when your card is renewed or replaced, so you don't have to worry about keeping your information up to date.

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The Bank of America Cash Back Credit Card offers a range of rewards and bonuses that can help you earn cash back on your purchases.

You can earn a flat rate of 1.5% cash back on all purchases with the Bank of America Unlimited Cash Rewards Credit Card, with no limits or rotating categories to track.

The card also offers a welcome bonus of $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.

To maximize your earnings, consider enrolling in the Bank of America Preferred Rewards program, which offers a 25% to 75% boost on eligible rewards, depending on your combined balances in Bank of America or Merrill accounts.

Here's a breakdown of the rewards rates with the Bank of America Preferred Rewards program:

The Bank of America Unlimited Cash Rewards Credit Card offers a simple and straightforward cashback program, earning 1.5% cash back on all purchases with no limits or rotating categories to track.

You can redeem your cash back rewards as a statement credit, a deposit into an eligible Bank of America account, or credit it to a qualifying Merrill account. Your rewards won't expire if your account is open and in good standing.

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One of the greatest aspects of this card is the long 0% intro APR period on balance transfers and purchases. The card has a 0% intro APR for the first 15 billing cycles on purchases and on any balance transfers made in the first 60 days (then a 19.24% - 29.24% Variable APR).

However, it's worth noting that the card doesn't offer many other perks, which can be common for no-annual-fee credit cards. So if you're looking for significant travel or purchase benefits, you should consider a different rewards credit card.

Here's a breakdown of the rewards you can earn with the Bank of America Unlimited Cash Rewards Credit Card:

To get the most from your card, redeem for direct deposit. Your rewards bonuses will be larger if you have a high balance in your combined Bank of America and Merrill accounts and qualify for the Bank of America Preferred Rewards program.

The Wells Fargo Active Cash Card is a great option for those looking for a no-fee rewards card. It earns 2% cash back on all purchases, making it a worthwhile choice for anyone who doesn't have Bank of America Preferred Rewards status.

New cardholders can earn a welcome bonus of $200 cash rewards bonus after spending $500 in purchases in the first three months from account opening. This is a great opportunity to earn some extra cash back.

The card also offers a zero-interest period: 0% intro APR on purchases and qualifying balance transfers for 12 months from account opening, followed by a variable APR of 19.24%, 24.24%, or 29.24%. This can be a huge help for those who need to make large purchases or pay off debt.

Cellphone protection, Visa Signature Concierge, roadside dispatch, travel and emergency assistance services, emergency cash disbursement, and card replacement are all additional benefits of the Wells Fargo Active Cash Card. These perks can be very valuable in a variety of situations.

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The Bank of America Cash Back credit card offers a range of benefits and perks that can make it a valuable addition to your wallet.

You can earn 3% cash back in the category of your choosing, such as gas/EV charging, online shopping, dining, travel, drug stores, or home improvement/furnishings.

The card also offers a 0% intro APR for 15 billing cycles on purchases and on any balance transfers made within 60 days of account opening, which can be a big help if you need to finance a large purchase.

In addition to these benefits, the card also offers flexible redemption options, allowing you to redeem your cash back rewards as a statement credit or at Amazon.com checkout.

One of the standout features of the Bank of America Cash Back credit card is its ability to earn a strong welcome bonus, making it a great option for those who want to earn rewards quickly.

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Here are some of the key benefits and perks of the Bank of America Cash Back credit card:

With its range of benefits and perks, the Bank of America Cash Back credit card is a great option for those who want to earn rewards and save money on their purchases.

The Bank of America cash back credit card has some fees to be aware of. The good news is that it has no annual fee, making it a good choice for cardholders who don't want ongoing costs.

One fee to consider is the balance transfer fee, which is 3% of the total transaction amount for transfers made within 60 days of opening your account. After that, the fee is 4%.

If you're traveling abroad, you'll also be charged a foreign transaction fee of 3%. This is something to think about if you frequently make international purchases.

Here's a quick rundown of the fees to keep in mind:

The ongoing APR is variable, ranging from 18.24% to 28.24%, and the cash advance APR and penalty APR are also variable.

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You can redeem your cash rewards with the Bank of America Cash Rewards credit card in various ways, including statement credit, direct deposit into a Bank of America account, or as a personal check.

The easiest way to redeem your rewards is for a statement credit, which means the amount you redeem is subtracted from your account balance. You can also redeem as a direct deposit into an eligible Bank of America account.

For statement credit or direct deposit into a Bank of America checking or savings account, there is no minimum redemption amount. However, redemptions by check have a $25 minimum.

You can also set up your rewards to redeem automatically once you've accumulated a certain amount ($25 or more). This way, you'll earn rewards without having to think about it.

To get the most from your card, redeem for direct deposit. Your rewards bonuses will be larger if you have a high balance in your combined Bank of America and Merrill accounts and qualify for the Bank of America Preferred Rewards program.

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Here's a breakdown of the rewards boost you can get with the Preferred Rewards program:

With the Preferred Rewards program, you'll get bigger rewards bonuses if you have a high balance in your combined Bank of America and Merrill accounts. For example, if you maxed out your spending caps at grocery stores and wholesale clubs, you'd get $250 in a year. But if you had qualifying accounts with more than $100,000 combined, you'd get $437.50 in the same year.

To qualify for the Preferred Rewards program, you need to have both a Bank of America personal checking account and a three-month combined average balance of $20,000 or more in a Bank of America checking or savings account or an eligible Merrill account.

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BankAmeriDeals is a cash-back rewards program offered by Bank of America that provides cardholders with targeted offers to earn cash back for making eligible purchases with participating merchants. Bank of America groups BankAmeriDeals into six categories: Entertainment, Food, Retail, Services, Travel, and Other.

The Entertainment category focuses on discounts for events and streaming services. Food offers mainly include national chains and food delivery services like Doordash and Grubhub. Retail offers usually contain the most options for cash-back deals, with over 140 different options listed at present.

Some deals require users to make a purchase through a specific link provided by BankAmeriDeals in order to get the cashback. Shopping at the merchant separately won't earn the reward. Bank of America tries to match available deals to the places you've shopped with your eligible accounts before or to a similar place you might like.

Sample BankAmeriDeals have included offers like YouTube TV, StubHub, Baskin-Robbins, and Starbucks. These deals often provide cash back on specific purchases or services, such as a $20 cash back on a YouTube TV subscription or 10% cash back at Baskin-Robbins.

To find and activate BankAmeriDeals, log in to your Bank of America account and navigate to the available BankAmeriDeals page. You can get to this page by clicking the "Cash back deals" link under the "Rewards & Deals" tab in the menu at the top of Online Banking.

Cardholders can also click the "Special Offers & Deals" button on the right side of their accounts overview to access the BankAmeriDeals page. By going through either of these methods, Bank of America will direct you to the "Available" section of BankAmeriDeals, where you can enroll your Bank of America card in an offer.

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Here are some examples of BankAmeriDeals offers:

The Bank of America cash back credit card options can be a bit overwhelming, but I've got the lowdown. The Bank of America Customized Cash Rewards credit card stands out for its flexibility, allowing you to choose your own 3% bonus category from a list of options and change it up to once a month.

One major consideration is the spending caps on bonus categories, which may not be ideal for big spenders. On the other hand, this card is a great deal for those who can keep large balances with Bank of America or Merrill, as it can boost their rewards rates.

Here are some of the top Bank of America cash back credit card options:

The Bank of America Unlimited Cash Rewards Credit Card is a solid option, but many cards in its league offer comparable benefits.

We compared this card to two popular competitors, but unfortunately, the article doesn't specify who they are.

To get a better understanding of how credit cards are rated, learn more about Bank of America's methodology in their Credit Card Reviews section.

The Bank of America Unlimited Cash Rewards Credit Card has its strengths, but it's essential to consider the competition and make an informed decision.

To be approved for the Bank of America Unlimited Cash Rewards, you should have at least a good credit score — meaning a FICO score of 670 or higher.

You can redeem rewards on the Bank of America Unlimited Cash Rewards as a statement credit, direct deposit into a Bank of America checking or savings account, credit to a qualifying Merrill Cash Management Account, or credit to a qualifying 529 account with Merrill.

The Chase Freedom Unlimited offers strong earning rates on certain bonus categories, while the Wells Fargo Active Cash Card earns a slightly higher rate of 2% cash back on purchases.

The Bank of America Unlimited Cash Rewards Card earns a flat 1.5% back on all purchases, while the Bank of America Customized Cash Rewards Card earns 3% back in one category of your choosing each month.

You'll only earn bonus cash on up to $2,500 spent per quarter on the Bank of America Customized Cash Rewards Card, then earn just 1% back on everything else.

The Bank of America Unlimited Cash Rewards Card comes with a 0% intro APR for the first 15 billing cycles on purchases and on any balance transfers made in the first 60 days.

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If you're looking for a cash-back card with flexibility, the Bank of America Customized Cash Rewards credit card is a great option, allowing you to choose your own 3% bonus category from a list of options and change it up to once a month.

The card also offers a $0-annual-fee, which is a rare feature among cash-back cards. However, it's worth noting that the card comes with bonus category spending caps, so it's not ideal for big spenders.

The card's rewards categories are quite generous, covering a wide range of merchants, including Amazon, Best Buy, and Target, as well as dining, home improvement, and online shopping.

Here's a brief comparison of the Bank of America credit cards:

The Bank of America cash back card has some appealing features, but its spending caps limit its value for big spenders.

If you qualify for the Bank of America Preferred Rewards program, the card can be even more valuable.

BankAmeriDeals can be a simple way for Bank of America cardholders to get cash back on purchases.

However, BankAmeriDeals may not be as extensive as Amex Offers, and its availability is targeted based on your past card usage.

The Bank of America Customized Cash Rewards credit card offers a $0-annual-fee option, which is a great deal considering the benefits it provides.

You can choose your own 3% bonus category from a list of options and change it up to once a month.

The card comes with bonus category spending caps, so it's not ideal for big spenders who want to maximize their rewards.

Bank of America also issues a different version of this card targeted towards students, which you can learn more about in our review.

Bank of America offers different tiers and levels of rewards, which can greatly impact the value of their cash back credit cards. The Preferred Rewards Platinum tier offers 50% more rewards on eligible Bank of America rewards credit card spending, earning 2.25% cash back.

The Platinum Honors tier, available to those with higher balances, earns 75% more rewards on purchases up to $999,999 on deposit. This can lead to significant rewards earnings.

To qualify for the Platinum Honors tier, you need to have a balance between $100,000 to $999,999 on deposit. This tier offers elevated rewards, including 75% more rewards on eligible purchases.

The Preferred Rewards Platinum Honors tier offers the highest rewards earnings, with 75% more rewards on eligible Bank of America rewards credit card spending, earning 2.625% cash back. This is the highest rewards rate available through the Preferred Rewards program.

The Bank of America cash back credit cards have some great benefits and features. The Bank of America Customized Cash Rewards credit card has a $0 annual fee, which is a nice perk.

You can earn a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening. This is a great incentive to get started with the card.

The card offers 3% back on a category of your choice, such as gas, online shopping, or dining, and 2% back on grocery stores and wholesale clubs for the first $2,500 of combined spending per quarter. After hitting this threshold, you'll earn 1% back on these purchases.

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Here are the six options for your 3% back bonus category:

You can change your 3% back bonus category up to once a month, and it will remain the same from month to month unless you change it. If you don't make a selection, the default category will be gas.

The card also offers a 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After that, a Variable APR of 18.24%-28.24% will apply.

Cardholders who are eligible for the Bank of America Preferred Rewards program can earn higher rewards rates.

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One of the standout features of the Bank of America Cash Back Credit Card is its $0 Liability Guarantee. You won't be held liable for fraudulent or unauthorized transactions as long as you report the issue promptly.

This means that if your card is lost, stolen, or compromised, you can rest assured that you won't be on the hook for any unauthorized charges. It's a big relief, and a great benefit to have.

Just remember to report any issues promptly, so you can take advantage of this protection.

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