Bank of America Unlimited Cash Rewards Credit Card Review and Benefits

The Bank of America Unlimited Cash Rewards Credit Card is a solid choice for those seeking a straightforward cashback rewards program. It offers 1.5% unlimited cash back on all purchases.

With no rotating categories or spending limits, you can earn cash back on everything you buy. This makes it easy to earn rewards without having to constantly monitor your spending.

The card has no annual fee, making it a great option for those who want to earn cash back without incurring additional costs. This fee-free benefit is a major advantage for casual users.

The Bank of America Unlimited Cash Rewards credit card has some amazing benefits that make it a great choice for anyone looking to earn cash back on their purchases. With Balance Connect, you can avoid bounced checks and returned payments by linking your eligible checking account for overdraft protection.

You'll also have access to your money no matter where you are, thanks to Bank of America's mobile app, available on Apple iTunes and Google Play Store. This app lets you keep up-to-date on upcoming payment due dates, transaction alerts, and more with Account Alerts.

Choose to go paperless with online and digital credit card statements, and enjoy the added security of EMV chip and pin technology. Plus, you'll get access to your FICO Score each month.

Here are some of the key benefits of the Bank of America Unlimited Cash Rewards credit card:

The new account bonus is a great incentive to sign up, offering a $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days. This bonus is equivalent to 20% cash back, which is a fantastic offer.

The Bank of America Unlimited Cash Rewards credit card has specific eligibility requirements. You'll need good or excellent credit to get approved.

You can check your eligibility without affecting your credit score. Bank of America offers a pre-qualification page to gauge your suitability for the card.

Current Bank of America customers may receive pre-approved offers by email or when logging into their account. This is a convenient way to see if you qualify without going through a formal application process.

Bank of America also sends pre-approved offers for specific credit cards to certain individuals. This is a great way to get a head start on the application process and see if you're eligible.

To check your pre-approval status, visit Bank of America's online pre-approval page. You can quickly see if you qualify for the card and take the next step towards approval.

The Bank of America Unlimited Cash Rewards credit card has a range of fees and rates that you should be aware of. The annual fee is $0, which is a great perk.

The card offers a 0% intro APR for 15 billing cycles on purchases and balance transfers made in the first 60 days. This can provide some breathing room on interest charges. After the intro period ends, the regular APR is 18.24%-28.24% Variable.

You'll also need to pay a balance transfer fee of 3% for 60 days from account opening, then 4%. This is a standard fee for balance transfers.

If you're considering applying for a credit card, it's essential to know the accepted scores. A 750+ credit score is recommended for many credit cards.

The Bank of America Unlimited Cash Rewards credit card for Students has a 4.0 WalletHub Rating, but it doesn't specify an accepted score.

In contrast, the Discover it Student Cash Back credit card has a 3.9 WalletHub Rating, and the Capital One Savor Student Cash Rewards Credit Card has a 5.0 WalletHub Rating.

The Capital One Savor Student Cash Rewards Credit Card has a 5.0 WalletHub Rating, which is the highest rating among the three cards.

Here are the accepted scores for each card:

Unfortunately, it seems that none of the cards explicitly mention an accepted score.

The Bank of America Unlimited Cash Rewards credit card for Students offers a 0% intro APR for 15 billing cycles on purchases and balance transfers made in the first 60 days. This can provide breathing room on interest charges, allowing you to finance a large purchase or several small ones.

The regular APR after the intro period ends is a variable 18.24% - 28.24%. This is a relatively high rate, so it's essential to pay the bill in full every month to avoid expensive interest charges.

Balance transfer fees apply, with a 3% fee for 60 days from account opening, then 4% after that. This can add up quickly, so it's crucial to factor this into your decision.

The card also has a foreign transaction fee of 3%, which is higher than many other credit cards.

Here's a summary of the key rates and fees:

Overall, it's essential to carefully review the rates and fees associated with the Bank of America Unlimited Cash Rewards credit card for Students before applying.

The Bank of America Unlimited Cash Rewards credit card offers flexible cash-back redemptions, allowing you to redeem for cash back as a deposit to an eligible Bank of America bank account, credit to Merrill accounts, or statement credit.

You can earn unlimited 1.5% cash back on every eligible purchase with this card, which is certainly better than the 1% back offered by more basic cash back cards.

The main competitor to this card is the Chase Freedom Unlimited, which also offers unlimited 1.5% back on purchases, but with additional rewards on select purchases.

However, with the Preferred Rewards program, current Bank of America customers can save even more cash back on every purchase, earning between 25% and 75% more cash back, depending on their rewards tier status.

Cash back rewards are unlimited and do not expire as long as the cardholder's account is active and open, making it easy to redeem your rewards.

The $200 initial bonus after 90 days is a great perk for new cardholders. You can earn this bonus after making at least $1,000 in purchases in the first 90 days of your account opening.

To be eligible, you must make your purchases online, and this offer is only available on select channels. The offer was last updated on January 13th, 2025, at 13:53 ET.

This bonus is a decent sign-up bonus that's easy to earn, making it a great incentive to try out the Bank of America Unlimited Cash Rewards credit card.

With the Bank of America Unlimited Cash Rewards credit card, you can redeem your cash back rewards in a few different ways. You can redeem for a deposit to an eligible Bank of America bank account, which can be a great way to boost your savings.

Redemptions are flexible, meaning you can choose how you want to use your rewards. You can also credit your cash back to Merrill accounts, including 529 accounts, or use it to pay off your statement balance.

One of the nice features of this card is that your cash back rewards don't expire as long as your account is active and open. This means you can redeem your rewards at any time, without having to worry about losing them.

You can redeem your cash back rewards as a statement credit, a deposit into a Bank of America checking or savings account, or into an eligible investment account with Merrill. The options are straightforward and easy to use.

The Citi Double Cash Card is a great option for those who want to earn cash back on their purchases. You can earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

To earn cash back, you need to pay at least the minimum due on time. This means making timely payments is crucial for maximizing your rewards. I've seen people miss payments and end up losing out on valuable cash back.

A special travel offer is also available, earning you 5% total cash back on hotel, car rentals, and attractions booked on the Citi Travel℠ portal through 12/31/25. This can be a great perk for frequent travelers.

If you're planning to use your card for a balance transfer, the Citi Double Cash Card offers a longer intro APR for balance transfers, but no intro APR for purchases. This is something to consider if you have existing debt.

Here are the key details about the Citi Double Cash Card's balance transfer offer:

It's essential to note that interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.

The Bank of America Unlimited Cash Rewards credit card has its fair share of advantages and disadvantages. Here are some of the key pros and cons to consider.

One of the biggest pros is that there is no membership fee. This means you can enjoy the benefits of the card without having to pay an annual fee.

You'll also get a low intro APR on purchases and balance transfers, which can be a big help if you need to make a large purchase or transfer a balance from another credit card.

The card also offers a $200 initial rewards bonus, which can be a nice incentive to sign up.

However, one of the cons is that there is a balance transfer fee, so be sure to factor that into your decision.

Additionally, the card requires excellent credit, so if your credit score isn't up to par, you may not be eligible.

Here are some of the key features of the card:

The Bank of America Unlimited Cash Rewards credit card is a solid choice for those looking for a no-frills rewards option. It earns an unlimited 1.5% cash back on every purchase.

The card has no annual fee, making it a great option for those who want to avoid paying extra for a credit card. You'll also get a decent 1.5% rewards rate on all purchases.

One of the best features of this card is its introductory APR offer, which lasts for 15 billing cycles on purchases and balance transfers. This can be a great opportunity to save money on interest charges.

Here are some key takeaways to consider when deciding if this card is right for you:

The card's rewards rate is respectable, but it doesn't beat the solid 2% rewards rate offered by multiple competitors. At best, it's a decent no-frills option for rewards or paying down debt, but it's not the best.

If you're considering the Bank of America Unlimited Cash Rewards credit card, you might want to compare it to similar cards on the market.

The Bank of America Unlimited Cash Rewards credit card has a 15 billing cycle 0% intro APR on purchases and balance transfers, which is similar to the Chase Freedom Unlimited's 15 months on purchases and balance transfers.

One of the main benefits of the Bank of America Unlimited Cash Rewards credit card is that it has no annual fee.

The Citi Double Cash Card also has a $0 annual fee and offers a similar rewards rate, earning 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

The Capital One Quicksilver Cash Rewards Credit Card has a $0 annual fee as well, and offers a similar rewards rate, earning 1.5% Cash Back on every purchase, every day.

Here are some key features of the Bank of America Unlimited Cash Rewards credit card compared to similar cards:

The Wells Fargo Active Cash Card also offers a $200 cash rewards bonus after spending $500 in purchases in the first 3 months, but has a higher rewards rate of 2% on all purchases.

The Bank of America Unlimited Cash Rewards credit card is a solid choice for those who value simplicity.

The card offers a flat-rate cash back of 1.5 percent, with no limit on how much you can earn in a year, no category restrictions, and no spending caps.

If you're a Bank of America loyalist, you'll appreciate the benefits of being a Preferred Rewards member, which can boost your cash back rate.

However, if you're not a Bank of America loyalist, you might find better options elsewhere, such as higher rewards rates and longer intro APR periods.

The card's welcome bonus is relatively easy to earn, so you can redeem your cash back rewards quickly.

But if you want more flexibility in redeeming your rewards, you might want to consider other issuers that offer more options.