How Does ValuePenguin Get Paid?

10 Best Bank of America Credit Cards of 2022

10 Best Bank of America Credit Cards of 2022

The Bank of America® Customized Cash Rewards credit card made the cut as our best Bank of America credit card overall, due to its generous welcome offer and the fact you get to pick the categories you earn 3% back in throughout the year.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

Bank of America® Customized Cash Rewards credit card

BankAmericard® credit card

Bank of America® Premium Rewards® credit card

Bank of America is one of the largest banks in the United States, so it's not surprising it offers a range of credit cards suited to different types of consumers. While the best BOA credit cards vary in terms of what they offer, they were designed to offer cash back, travel rewards, airline miles or 0% APR introductory rates. Some of their cards are even geared to individuals with bad credit or students who need help building their credit history.

Compare Bank of America credit cards

Best overall

Bank of America® Customized Cash Rewards credit card

Generic art
Not available on ValuePenguin

$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening

$0

14.74% - 24.74% Variable APR

660 - 850

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • Earn 3% cash back in the category of your choice, automatic 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.
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase. That means you could earn up to 5.25% cash back on purchases in your choice category. 
  • No annual fee and no expiration on rewards. 
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 14.74% - 24.74% Variable APR will apply.  A 3% fee (min $10) applies to all balance transfers.
  • Contactless Cards - The security of a chip card, with the convenience of a tap. 
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Verdict

The Bank of America® Customized Cash Rewards credit card stands out among the rest, due to the fact you get to pick the category you earn the most cash back in. Cardholders earn 3% cash back in the category of your choice, automatic 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.

The categories for 3% back are gas, online shopping, dining, travel, drug stores and home improvement and furnishings. And when it comes to redeeming rewards, cash back can be used for statement credits or transfers to a Bank of America or eligible Merrill account. You can also redeem for transfers to a Merrill 529 savings account once you have at least $25 in rewards saved up. Automatic redemptions to an eligible Bank of America or Merrill account start at $25.

  • Choose your 3% back category from several everyday options
  • Change your 3% back category each month
  • 0% Intro APR for 15 billing cycles for purchases and 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days , followed by a 14.74% - 24.74% Variable APR
  • $0 annual fee
  • Generous welcome offer is easy to earn
  • 3% and 2% cash back categories are capped at the first $2,500 in combined spending each quarter
  • Limited ways to redeem rewards
  • Charges foreign transaction fees


Best for intro 0% APR

BankAmericard® credit card

Generic art
Not available on ValuePenguin

$100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening.

$0

13.74% - 23.74% Variable APR

660 - 850

  • $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening. 
  • 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.74% - 23.74% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
  • No annual fee. 
  • No penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply.
  • Access your FICO® Score for free within Online Banking or your Mobile Banking app. 
  • Contactless Cards - The security of a chip card, with the convenience of a tap. 
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

 

Verdict

The BankAmericard® credit card is ideal for debt consolidation or paying down large purchases over time because it offers the longest introductory APR of any of the cards on this list. New cardholders get a 0% Intro APR for 18 billing cycles for purchases, and a 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days. A 13.74% - 23.74% Variable APR applies after the intro period ends.

While this card doesn't offer ongoing rewards for spending, new customers are eligible for a $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening.

  • Lengthy intro APR period for purchases and balance transfers
  • $0 annual fee
  • $100 statement credit offer
  • No penalty APR for late payments
  • Free FICO Score, updated monthly
  • No ongoing rewards for spending
  • Minimal cardholder perks
  • Charges foreign transaction fees


Best for travel perks

Bank of America® Premium Rewards® credit card

Generic art
Not available on ValuePenguin

50,000 online bonus points - a $500 value - after you make at least $3,000 in purchases in the first 90 days of account opening.

$95

16.74% - 23.74% Variable APR

660 - 850

  • Receive 50,000 online bonus points - a $500 value - after you make at least $3,000 in purchases in the first 90 days of account opening.
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points for every $1 spent on all other purchases.
  • If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means you could earn up to 3.5 points for every $1 spent on travel and dining purchases.
  • No limit to the points you can earn and your points don't expire.
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, or gift cards or purchases at the Bank of America Travel Center.
  • Get up to $100 in Airline Incidental Statement Credits annually and TSA PreCheck®/Global Entry Statement Credits of up to $100, every four years. 
  • No foreign transaction fees.
  • Low $95 annual fee.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Verdict

If you're hoping to earn travel rewards with a Bank of America credit card, the Bank of America® Premium Rewards® credit card is a standout card worth considering. Cardmembers earn an unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases.

The card offers valuable ongoing benefits, including up to a $100 fee credit toward Global Entry or TSA Precheck membership. Cardholders also get up to $100 in airline credits toward incidental purchases like seat upgrades, in-flight services, baggage fees and airline lounge fees. Plus, the Bank of America® Premium Rewards® credit card also comes with no foreign transaction fees, so it's perfect for travel abroad.

  • Generous welcome offer
  • Earn a base rate of 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases
  • Points are easy to redeem
  • Qualify for up to $200 in travel statement credits per year
  • Foreign transaction fees: None
  • Premium travel insurance benefits
  • Purchase protection, extended warranties and return protection
  • $95annual fee
  • No intro APR offer


Best no-annual-fee travel card

Bank of America® Travel Rewards credit card

Generic art
Not available on ValuePenguin

25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening

$0

14.74% - 24.74% Variable APR

660 - 850

  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire. 
  • 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases. 
  • Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions. 
  • Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout. 
  • 0% Introductory APR for 15 billing cycles for purchases. After the intro APR offer ends, 14.74% - 24.74% Variable APR will apply.
  • If you're a Preferred Rewards member, you can earn 25% - 75% more points on every purchase. That means you could earn up to 2.62 points for every $1 spent.
  • Contactless Cards - The security of a chip card, with the convenience of a tap. 
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Verdict

The Bank of America® Travel Rewards credit card offers great travel rewards for $0 annual fee. In addition to a large sign-up bonus, cardholders earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire. When it's time to redeem rewards, points can be easily redeemed for statement credits to cover any travel or dining purchases charged to the card.

This travel credit card is also a good option for financing an upcoming vacation: It has a 0% Intro APR for 15 billing cycles for purchases. After that, a 14.74% - 24.74% Variable APR applies.

  • $0 annual fee
  • Generous welcome offer
  • High earning rate of unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire
  • $0 annual fee
  • Foreign transaction fees: None
  • Long intro APR for purchases
  • No travel perks


Best simple cash back card

Bank of America® Unlimited Cash Rewards credit card

Generic art
Not available on ValuePenguin

$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening

$0

14.74% - 24.74% Variable APR

660 - 850

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. 
  • Earn unlimited 1.5% cash back on all purchases. 
  • If you're a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn up to 2.62% cash back on every purchase. 
  • No annual fee. 
  • No limit to the amount of cash back you can earn and cash rewards don’t expire. 
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 14.74% - 24.74% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
  • Contactless Cards - The security of a chip card, with the convenience of a tap. 
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Verdict

The Bank of America® Unlimited Cash Rewards credit card is a straightforward cash back card that keeps things simple. Cardholders earn an 1.5% cash back on all purchases, as well as $$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. Redemption options for rewards include deposits into a Bank of America checking or savings account, credits into eligible Merrill accounts or a statement credit.

Like many cards on our list, this card also comes with a long intro offer: 0% Intro APR for 15 billing cycles for purchases for purchases and 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days for balance transfers made within the first 60 days of account opening. An APR of 14.74% - 24.74% Variable APR applies thereafter.

  • $0 annual fee
  • Easy-to-understand, flat-rate rewards
  • Welcome offer is easy to earn with average spending of just $334 each month for the first 90 days
  • Intro APR for purchases and balance transfers
  • Charges foreign transaction fees
  • Limited redemption options for rewards


Best airlines card

Alaska Airlines Visa Signature® credit card

Generic art
Not available on ValuePenguin

Buy one ticket, get one for just the taxes and fees ($0 fare plus taxes and fees from $22) and receive 40,000 bonus miles with this offer. To qualify, make $3,000 or more in purchases within the first 90 days of opening your account.

$75

16.74% - 24.74% Variable APR on purchases

660 - 850

  • LIMITED TIME ONLINE OFFER – Buy One Get One is Back! Alaska's Famous Companion Fare™ + 40,000 Bonus Miles.
  • Buy one ticket, get one for just the taxes and fees ($0 fare plus taxes and fees from $22) and receive 40,000 bonus miles with this offer. To qualify, make $3,000 or more in purchases within the first 90 days of opening your account.
  • Alaska’s Famous Companion Fare™.  Every year on your credit card account anniversary you’ll receive a companion fare which allows you to book a companion flight from $121 ($99 fare plus taxes and fees from $22). Valid on all Alaska Airlines flights booked on alaskaair.com.
  • Free checked bag for you and up to 6 guests on the same reservation – that's a savings of $60 per person roundtrip!
  • Earn unlimited 3 miles for every $1 spent on eligible Alaska Airlines purchases and unlimited 1 mile for every $1 spent on all other purchases. And, your miles don’t expire on active accounts.
  • With oneworld® Alliance member airlines and Alaska’s Global Partners, Alaska has expanded their global reach to over 1,000 destinations worldwide bringing more airline partners and more ways to earn and redeem miles.
  • Flexibility with no blackout dates on Alaska Airlines flights when booking with miles or a companion fare.
  • Plus, no foreign transaction fees and a low $75 annual fee.
  • This online only offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.

Verdict

The Alaska Airlines Visa Signature® credit card is an outstanding airline card option from Bank of America. This card lets you earn miles in the Alaska Mileage Plan program, which members can use to fly to more than 1,000 destinations worldwide alongside its airline partners.

New customers can Buy one ticket, get one for just the taxes and fees ($0 fare plus taxes and fees from $22) and receive 40,000 bonus miles with this offer. To qualify, make $3,000 or more in purchases within the first 90 days of opening your account. Cardholders also Earn unlimited 3 miles for every $1 spent on eligible Alaska Airlines purchases and unlimited 1 mile for every $1 spent on all other purchases. And, your miles don’t expire on active accounts. Other perks include a free checked bag on Alaska flights, 50% off day passes at Alaska airport lounges and 20% back on all Alaska Airlines in-flight purchases.

  • Qualify for a generous bonus
  • Earn Alaska’s Famous Companion Fare each year
  • Excellent earning rate on Alaska purchases
  • Comes with frequent flyer perks
  • Foreign transaction fees: None
  • Miles and companion fare may be hard to use if you live on the East Coast
  • $75 annual fee required

Other Bank of America co-branded airlines cards

If you worry the Alaska Airlines Visa Signature® credit card isn't right for your needs, you can consider other co-branded travel credit cards from Bank of America. There are actually quite a few options to consider — including the Free Spirit® Travel More World Elite Mastercard® and the Allegiant World Mastercard®.

Alternative co-branded cards from Bank of America could work better for you based on where you live and which airports you fly to the most. Make sure you compare all your options before you decide.

{"backgroundColor":"gray","content":"\u003C\/p\u003E\n\n\u003Ch3\u003EOther Bank of America co-branded airlines cards\u003C\/h3\u003E\n\n\u003Cp\u003EIf you worry the Alaska Airlines Visa Signature\u003Csup\u003E\u00ae\u003C\/sup\u003E credit card isn't right for your needs, you can consider other co-branded travel credit cards from Bank of America. There are actually quite a few options to consider \u2014 including the \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"Free Spirit Travel More World Elite Mastercard Review: Is It Worth it?\" href=\"https:\/\/www.valuepenguin.com\/travel\/spirit-airlines-world-mastercard\"\u003EFree Spirit\u003Csup\u003E\u00ae\u003C\/sup\u003E Travel More World Elite Mastercard\u003Csup\u003E\u00ae\u003C\/sup\u003E\u003C\/a\u003E\u003C\/span\u003E and the \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"Allegiant World Mastercard\u00ae Review: A Good Airline Card for Those Who Fly With Allegiant\" href=\"https:\/\/www.valuepenguin.com\/allegiant-world-mastercard-review\"\u003EAllegiant World Mastercard\u003Csup\u003E\u00ae\u003C\/sup\u003E\u003C\/a\u003E\u003C\/span\u003E.\u003C\/p\u003E\n\n\u003Cp\u003EAlternative co-branded cards from Bank of America could work better for you based on where you live and which airports you fly to the most. Make sure you compare all your options before you decide.\u003C\/p\u003E\n\n\u003Cp\u003E","padding":"double"}


Best card for small businesses

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

Generic art
Not available on ValuePenguin

$300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.

$0

12.99% - 22.99% Variable APR on purchases

720 - 850

  • Get a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening – with no annual fee and cash rewards don't expire.
  • Earn 3% cash back in the category of your choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases.
  • You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
  • 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 12.99% to 22.99% will apply.
  • Redeem your cash back as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
  • Earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% in your selected choice category and up to 3.5% on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.

Verdict

If you're a small business owner, the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is your best bet, because it lets you earn cash back in categories that you can customize to match your common purchases. You can Earn 3% cash back in the category of your choice (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter), 2% cash back on dining purchases (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases.

The categories you can choose to earn 3% back in are popular with businesses: gas stations, office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. If, however, you don't choose one of these options, the default option is earning 3% back on gas purchases. Rewards can be redeemed for a transfer to a Bank of America checking or savings account, a statement credit or a check in the mail.

  • $0 annual fee
  • Pick a 3% back category that fits your business purchases
  • Generous welcome offer
  • Easily redeemable cash back
  • Intro APR of 0% Introductory APR on purchases for the first 9 billing cycles on purchases, followed by a 12.99% - 22.99% Variable APR on purchases
  • $0 annual fee
  • Travel insurance benefits
  • Cash flow management tools
  • Rewards in 3% back and 2% back categories are capped at $50,000 in combined spending each calendar year
  • Charges foreign transaction fees

Other Bank of America small business cards

If you don't like the idea of having to pick your own bonus categories with the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card, Bank of America offers other small business credit cards that could suit your needs better.

One example is the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card, which offers a flat Earn unlimited 1.5% cash back on all purchases everywhere, every time with a $0 annual fee.

{"backgroundColor":"gray","content":"\u003C\/p\u003E\n\n\u003Ch3\u003EOther Bank of America small business cards\u003C\/h3\u003E\n\n\u003Cp\u003EIf you don't like the idea of having to pick your own bonus categories with the Bank of America\u003Csup\u003E\u00ae\u003C\/sup\u003E Business Advantage Customized Cash Rewards Mastercard\u003Csup\u003E\u00ae\u003C\/sup\u003E credit card, Bank of America offers other small business credit cards that could suit your needs better.\u003C\/p\u003E\n\n\u003Cp\u003EOne example is the Bank of America\u003Csup\u003E\u00ae\u003C\/sup\u003E Business Advantage Unlimited Cash Rewards Mastercard\u003Csup\u003E\u00ae\u003C\/sup\u003E credit card, which offers a flat Earn unlimited 1.5% cash back on all purchases everywhere, every time with a $0 annual fee.\u003C\/p\u003E\n\n\u003Cp\u003E","padding":"double"}


Best card for students

Bank of America® Customized Cash Rewards Credit Card for Students

Generic art
Not available on ValuePenguin

$200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening

$0

14.74% to 24.74% Variable

660 - 720

  • Earn 3% cash back in the category of your choice, from online shopping to off-campus dining and more
  • 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
  • 1% cash back on all other purchases
  • You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%

Verdict

The Bank of America® Customized Cash Rewards Credit Card for Students is nearly identical to the Bank of America® Customized Cash Rewards credit card, though geared toward students who are trying to build credit. Students can earn 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishing. Once again, bonus rewards within 3% back and 2% back categories are capped at the first $2,500 in combined spending each quarter, after which the regular 1% back rate applies.

The 3% cash back categories are gas, online shopping, dining, travel, drug stores and home improvement and furnishings. Students can enjoy a 0% Introductory APR for the first 15 Statement Closing Dates following the opening of your account. on purchases and a 0% Introductory APR for the first 15 Statement Closing Dates following the opening of your account for transactions made within 60 days of opening your account. on balance transfers made within 60 days of account opening. After that, an APR of 14.74% to 24.74% Variable applies.

  • $0 annual fee
  • Pick your own 3% back category
  • Generous welcome offer
  • Intro offer for purchases and balance transfers
  • 3% and 2% back categories are capped at $2,500 in combined spending per quarter
  • Charges foreign transaction fees

Other Bank of America student cards

The best Bank of America credit card for students will depend on how they plan to use their card. That said, it's worth noting that Bank of America offers quite a few student cards geared to different types of spenders.

Popular options include the BankAmericard® Credit Card for Students and the Bank of America® Travel Rewards Credit Card for Students.

{"backgroundColor":"gray","content":"\u003C\/p\u003E\n\n\u003Ch3\u003EOther Bank of America student cards\u003C\/h3\u003E\n\n\u003Cp\u003EThe best Bank of America credit card for students will depend on how they plan to use their card. That said, it's worth noting that Bank of America offers quite a few student cards geared to different types of spenders.\u003C\/p\u003E\n\n\u003Cp\u003EPopular options include the BankAmericard® Credit Card for Students and the Bank of America® Travel Rewards Credit Card for Students.\u003C\/p\u003E\n\n\u003Cp\u003E","padding":"double"}


Best card for building credit

Bank of America® Unlimited Cash Rewards Secured Credit Card

Generic art
Not available on ValuePenguin

$0

14.74% to 24.74% variable

See website for details

Verdict

The Bank of America® Unlimited Cash Rewards Secured Credit Card is easily one of the best secured credit cards on the market today since it lets users earn rewards and build credit with no annual fee. Cardholders earn unlimited 1.5% cash back on all purchases, and they can get started with a security deposit as low as $300.

This card can also help you build credit by reporting your balances and payments to the three credit bureaus — Experian, Equifax and TransUnion.

  • $0 annual fee
  • Earn unlimited 1.5% cash back on all purchases
  • Get approved with a security deposit as low as $300
  • Reports to all three credit bureaus
  • Collateral required
  • Starting credit limit can be as low as $300 depending on your security deposit
  • Charges foreign transaction fees

Other Bank of America Secured cards

Bank of America offers a few more secured credit cards that can help you build credit. Options worth checking out include the Bank of America® Customized Cash Rewards Secured Credit Card and the BankAmericard® Secured Credit Card.

{"backgroundColor":"gray","content":"\u003C\/p\u003E\n\n\u003Ch3\u003EOther Bank of America Secured cards\u003C\/h3\u003E\n\n\u003Cp\u003EBank of America offers a few more secured credit cards that can help you build credit. Options worth checking out include the Bank of America\u00ae Customized Cash Rewards Secured Credit Card and the BankAmericard® Secured Credit Card.\u003C\/p\u003E\n\n\u003Cp\u003E","padding":"double"}


Honorable mention

Susan G. Komen® Cash Rewards Visa® credit card from Bank of America

Generic art
Not available on ValuePenguin

$200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening

$0

13.99% - 23.99% Variable

660 - 850

  • NEW OFFER: $200 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
  • From June 2015 through December 2020, Bank of America is guaranteeing to Susan G. Komen® $3 million in conjunction with its Pink Ribbon Banking credit card and checking program.
  • Susan G. Komen® has received more than $8 million from Bank of America from this program since 2009.
  • 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 annual fee
  • No changing categories and no expiration on rewards
  • Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account
  • 0% Introductory APR for 12 billing cycles for purchases and for any balance transfers made in the first 60 days, then, 15.24% - 25.24% Variable APR. 3% fee (min $10) applies to balance transfers.

Verdict

The Susan G. Komen® Cash Rewards Visa® credit card from Bank of America works exactly like the Bank of America® Customized Cash Rewards credit card, except Bank of America will contribute some of the card's profits to the Susan G. Komen Foundation. Cardholders earn 3% cash back in the category of your choice, automatic 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. Bonus rewards within 3% back and 2% back categories only accrue on the first $2,500 in combined spending each quarter, after which you'll earn 1% back.

There's a $0 annual fee, and customers can enjoy a 0% intro APR for 15 billing cycles on purchases on purchases and an intro APR of 0% intro APR for 15 billing cycles on balance transfers on balance transfers made within 60 days of account opening. An APR of 13.99% - 23.99% Variable applies after the intro offer ends.

  • Using your card raises money for breast cancer awareness
  • Choose your 3% back category from several everyday spending options
  • You can change your 3% back category each month based on your upcoming spending
  • Long intro period on purchases and balance transfers
  • $0 annual fee
  • Generous welcome offer
  • 3% back and 2% categories are capped at the first $2,500 in combined spending each quarter
  • Limited ways to redeem rewards
  • Charges foreign transaction fees

Pros and cons of Bank of America credit cards

Before you apply for a Bank of America credit card, you should think about the major advantages and disadvantages of cards from this issuer. While not all of these pros and cons apply to every BOA credit card, these are general rules to keep in mind.

Pros

  • Most Bank of America credit cards come with no annual fee
  • Rewards cards with diverse earning rates to choose from
  • Many BOA credit cards have intro APR offers
  • Bank of America Preferred Rewards members can earn 25% to 75% more rewards for each dollar they spend
  • Each card offers multiple redemption options for rewards
  • All Bank of America credit card customers get a free FICO Score

Cons

  • Few BOA credit cards offer travel perks
  • There aren't any card options with airport lounge membership (Alaska Airlines Visa has discount on day passes for lounge access)
  • Many BOA credit cards charge foreign transaction fees
  • Bank of America credit card welcome offers tend to be less generous than competing card issuers
  • Bank of America travel cards don't let you transfer points to airlines or hotels
{"backgroundColor":"butter","content":"\n\u003Cdiv class=\"full pad align-left clearfix\"\u003E\n\u003Cdiv class=\"half pad align-left clearfix\"\u003E\u003C\/p\u003E\n\n\u003Cp\u003E\u003Cdiv class=\"ShortcodeList--root \"\u003E\n \u003Ch3 class=\"ShortcodeList--title\"\u003EPros\u003C\/h3\u003E\n\n \u003Cdiv class=\"ShortcodeList--content\"\u003E\n \u003Cdiv class=\"ShortcodeList--column\"\u003E\n \u003Cul class=\"ListUnordered--root ListUnordered--icon-check-circle\"\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n Most Bank of America credit cards come with no annual fee\n \u003C\/li\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n Rewards cards with diverse earning rates to choose from\n \u003C\/li\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n Many BOA credit cards have intro APR offers\n \u003C\/li\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n Bank of America Preferred Rewards members can earn 25% to 75% more rewards for each dollar they spend\n \u003C\/li\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n Each card offers multiple redemption options for rewards\n \u003C\/li\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n All Bank of America credit card customers get a free FICO Score\n \u003C\/li\u003E\n \u003C\/ul\u003E\n \u003C\/div\u003E\n \u003C\/div\u003E\n\u003C\/div\u003E\n\n\n\u003C\/div\u003E\u003C\/p\u003E\n\n\u003Cp\u003E\u003Cdiv class=\"half pad align-left clearfix\"\u003E\n\u003Cdiv class=\"ShortcodeList--root \"\u003E\n \u003Ch3 class=\"ShortcodeList--title\"\u003ECons\u003C\/h3\u003E\n\n \u003Cdiv class=\"ShortcodeList--content\"\u003E\n \u003Cdiv class=\"ShortcodeList--column\"\u003E\n \u003Cul class=\"ListUnordered--root ListUnordered--icon-times-circle\"\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n Few BOA credit cards offer travel perks\n \u003C\/li\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n There aren't any card options with airport lounge membership (Alaska Airlines Visa has discount on day passes for lounge access)\n \u003C\/li\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n Many BOA credit cards charge foreign transaction fees\n \u003C\/li\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n Bank of America credit card welcome offers tend to be less generous than competing card issuers\n \u003C\/li\u003E\n \u003Cli class=\"ListUnordered--list-item\"\u003E\n Bank of America travel cards don't let you transfer points to airlines or hotels\n \u003C\/li\u003E\n \u003C\/ul\u003E\n \u003C\/div\u003E\n \u003C\/div\u003E\n\u003C\/div\u003E\n\n\n\u003C\/div\u003E\n\u003C\/div\u003E\n","padding":"none"}

Bank of America Preferred Rewards program

If you're looking for a way to earn more rewards for each dollar you spend, joining the Bank of America Preferred Rewards program is a good option. Just remember that the entry requirements for this program are fairly high — to qualify, you'll need to have a three-month combined average daily balance of at least $20,000 with Bank of America.

If you do qualify for the Preferred Rewards program, you can earn 25% to 75% more credit card rewards for each dollar you spend, depending on your status level:

  • Gold (required balance is $20,000-$49,999.99): 25% bonus
  • Platinum (required balance is $50,000-$99,999.99): 50% bonus
  • Platinum Honors (required balance is $100,000 to $1 million): 75% bonus

The following chart shows how much you'll earn in rewards with some of the best Bank of America credit cards if you become a top tier Platinum Honors member.

Bank of America® Travel Rewards credit card
Bank of America® Customized Cash Rewards credit card
Bank of America® Premium Rewards® credit card
Travel and dining2.625%5.25% ($2,500/quarter, if travel is your choice category)3.5%
Gas2.625%5.25% ($2,500/quarter, if gas is your choice category)2.625%
Grocery stores and wholesale clubs2.625%3.5% ($2,500/quarter)2.625%
All other purchases2.625%1.75%2.625%

Bank of America credit card application requirements

Before you apply for a BOA credit card, you should know what you'll need to share on your application and what to expect throughout the process. Here's a rundown of the steps you should take before you choose a card.

Check your credit score

While Bank of America doesn't list a specific credit score range for approvals, having an idea of your credit score can help you know which card to apply for. If your credit score is excellent for example, you can pretty much have your pick. If your credit score is poor, however, you may have to go with one of the issuer's secured credit cards.

Either way, you should take steps to see your credit score for free. You can do this via free services like Credit Sesame and Credit Karma, or through Experian.

Decide what type of Bank of America credit card is right for you

Next up, you'll want to decide which type of BOA credit card is best for your needs. Your best option will depend on how you plan to use your card, and what you hope to accomplish after you sign up.

Types of credit cards you can get through Bank of America include:

  • Cash back: Cash back credit cards from Bank of America let you earn rewards for each dollar you spend. Many also offer sign-up bonuses worth $200 or more.
  • Travel rewards: Consumers who travel often could benefit from a travel credit card from Bank of America. These cards let you earn flexible travel rewards or even airline miles — plus, some options come with perks specific for travel as well.
  • Small business owners: Business credit cards are ideal for small business owners and entrepreneurs who want to earn rewards on business-related spending, while also helping keep their business and personal spending separate.
  • Balance transfers and debt payoff: A Bank of America 0% APR credit card can be a valuable tool if you need to consolidate debt or pay down large purchases over time. Intro APR offers from Bank of America only last for up to 18 billing cycles, but the financial savings can still be significant.
  • Student: Bank of America also offers student credit cards that let college students build credit as they earn rewards.
  • Bank of America customers: You should also consider that Bank of America Preferred Rewards members can earn 25% to 75% more rewards for each dollar they spend on Bank of America's card products. However, this benefit doesn't apply to their co-branded credit cards with airlines.

Apply online

Once you’ve decided which Bank of America credit card suits your needs best, you can click on the button that says "Apply Now." From there, you'll be asked to fill out a formal credit card application with information, such as:

  • Your full name
  • Residential address
  • Phone number
  • Email address
  • Citizenship information
  • Social Security number
  • Date of birth
  • Employment status
  • Annual income
  • Monthly housing payment

Once you supply these Bank of America credit card requirements, you’ll be notified if you're approved for the card you want. You may receive this notification online in a matter of minutes, but you may also have to wait to receive an official approval (or a denial) via email or the regular mail.

Frequently asked questions

How do I apply for a Bank of America credit card?

Bank of America makes it easy to apply for their credit card products online. Once you find a card you would like to have, you can click where it says "Apply Now" and begin filling out a credit card application. You can also apply for a credit card over the phone by calling Bank of America at 800-732-9194.

How do I become a Preferred Rewards member?

To become a Bank of America Preferred Rewards member, you’ll need to have a three-month combined average daily balance of at least $20,000 in eligible Bank of America and Merrill accounts. Balances eligible for this program include any qualifying combined balances in a Bank of America checking or savings account, as well as Merrill investment accounts.

What credit score is needed for a Bank of America business card?

Bank of America doesn’t list minimum credit score requirements for its personal or business credit cards. However, you’ll likely need acceptable credit to qualify for this card, which is typically a "good" FICO credit score of 670 or above. Your approval odds may be even greater if your FICO Score is over 740, pushing it into the "very good" range.

Methodology

To help decide which Bank of America credit card is best in each category, we looked at factors such as rewards rates, intro APR offers and credit card fees. We chose cards that offer accessible rewards that are easy to understand, as well as offers that extend several redemption choices for consumers to choose from. Choices that made our ranking were not influenced by advertisers. Learn more on how we calculate rewards.

The information related to Bank of America® Customized Cash Rewards credit card, Citi ThankYou® Preferred Card, BankAmericard® credit card, Bank of America® Premium Rewards® credit card, Bank of America® Travel Rewards credit card, Bank of America® Unlimited Cash Rewards credit card, Alaska Airlines Visa Signature® credit card, Free Spirit® Travel More World Elite Mastercard®, Allegiant World Mastercard®, Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card, Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card, Bank of America® Customized Cash Rewards Credit Card for Students, Bank of America® Unlimited Cash Rewards Credit Card for Students, BankAmericard® Credit Card for Students, Bank of America® Travel Rewards Credit Card for Students, Bank of America® Unlimited Cash Rewards Secured Credit Card, Bank of America® Customized Cash Rewards Secured Credit Card, BankAmericard® Secured Credit Card and Susan G. Komen® Cash Rewards Visa® credit card from Bank of America has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

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.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).