Bank of America® Cash Rewards credit card

Bank of America® Cash Rewards credit card

on Bank of America's secure website, or call (877) 754-6706

Bank of America® Cash Rewards credit card

Bank of America® Cash Rewards credit card

Bank of America® Cash Rewards credit card

on Bank of America's secure website, or call (877) 754-6706

Card details

  • No annual fee

  • $150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening

  • NEW OFFER: Maximize your cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings

  • Now earn 3% cash back in your choice category and 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% on all other purchases

  • You can update your choice category for future purchases once each calendar month using the Mobile banking app or Online banking, or do nothing and it stays the same.

  • No expiration on rewards

  • 0% Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% - 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers

  • If you're a Preferred Rewards client, you can get a 25% - 75% rewards bonus on every purchase

Rates, fees & offers

  • Annual fee

    $0

  • Rewards rate

    1.00%*

  • Bonus offer

    $150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening

  • Intro APR

    0% on Purchases for 12 billing cycles and 0% on Balance Transfers for 12 billing cycles for balance transfers made in the first 60 days

  • Ongoing Apr

    APR: 16.24% - 26.24% Variable APR

    Penalty APR: up to 29.99% APR

  • Balance Transfer Fee

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

  • Foreign Transaction Fee

    3%

Recommended credit score

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NerdWallet Review

By Kimberly Palmer

Rating Details

3.6

Editor's overall rating

Pros and Cons

Pros
  • No annual fee

  • Cash bonus offer

  • Cash rewards

Cons
  • If you're a big spender with excellent credit and willing to pay an annual fee, there are cards with higher rewards

The Bank of America® Cash Rewards credit card can earn outstanding rewards rates — but only if you have a lot of money in Bank of America®-affiliated accounts. If not, your rewards rates will be only so-so.

The card itself offers 3% cash back in a category you choose and 2% at grocery stores and wholesale clubs on up to $2,500 in combined choice-category/grocery/wholesale club spending per quarter. All other purchases earn 1%.

But if you have at least $20,000 in combined accounts at Bank of America®, Merrill Lynch or Merrill Edge, you can join the Preferred Rewards program and earn bonuses of 25% to 75%.

The card’s annual fee is $0. For more information, visit our full review.

User Reviews

Rating Details

NerdWallet reviews are the result of independent research by our editorial team while cardholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.

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