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After reviewing all existing Bank of America credit card offers, we found the ones that stand out from the crowd and provide consumers with the best deal. Each of the highlighted offers we list here excel for a particular niche or category of consumer. To decide which Bank of America credit card is best for you, it’s important to take into account your financial situation.
Top Bank of America Credit Cards For...
Top BofA Credit Card for Everyday Spending: Bank of America® Cash Rewards credit card
The Bank of America® Cash Rewards credit card will be an excellent option for most people, chiefly due to the above-average rewards it provides cardholders on gas and grocery spending – two of the biggest categories of spending for the average consumer. The card provides users with 3% back on gas purchases and 2% back at grocery stores and wholesale clubs, both of which are capped at a combined spending of $2,500 per quarter. After you reach the cap, you will earn just 1% in both these categories.
If you have a bank account with Bank of America, the Bank of America® Cash Rewards credit card earns a 10% bonus on the rewards you earn from purchases. Consumers with BofA investment accounts can get even bigger bonuses with this card – anywhere between 25% and 75% depending on how much money you have deposited in the account.
- No Annual Fee
- 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/gas purchases each quarter
- $200 cash rewards bonus after making at least $500 in purchases in the first 90 days of your account opening
Best BofA Card for Varied Spending: Bank of America® Travel Rewards credit card
The Bank of America® Travel Rewards credit card offers a fixed rewards rate on all of the spending you do with it –- 1.5 points for every dollar spent. Because every single point translates to $0.01 in travel statement credit, that works out to a fixed 1.5% rewards rate on all purchases you make. There are two benefits to this kind of reward structure that elevates this card to the realm of “best”. First, having above average rewards on all purchases, versus a select few, gives you a lot more flexibility. For example, if you were to suddenly make $2,000 in purchases at furniture and appliance stores, a card like the Bank of America® Travel Rewards credit card will give you higher rewards than most other offers.
If travel, there is a lot to like in the Bank of America® Travel Rewards credit card. It’s one of the few credit cards to have both no annual fee and no foreign transaction fees. Most credit cards, even most Bank of America cards, will charge you a 3% fee whenever you use it when travelling abroad.
The Bank of America® Travel Rewards credit card also has one of the best welcome bonuses of any Bank of America credit card. Users can get 25,000 bonus points after spending $1,000 in purchases within the first 90 days of account opening. These points are equivalent to $250 in travel statement credit.
- 1.5 points for every dollar you spend
- 25,000 bonus points after spending $1,000 in purchases within the first 90 days of account opening
- Reward points can be used as travel statement credit, to pay down charges on your card
Option For Travelers: Bank of America® Premium Rewards® credit card
The reason we think this is the best Bank of America card for travelers is that it has highly relevant perks. For instance, the card offers up to $200 in combined airline incidental and airport expedited screening statement credits. The card also comes with no foreign transaction fees which means you can use it when you're abroad without incurring costly fees. For every dollar you spend on travel or dining you'll get 2 points.
- $95 annual fee
- No foreign transaction fees
- Get 50,000 bonus points after you make at least $3,000 in purchases in the first 90 days.
For People Paying Off Debt: BankAmericard® credit card
The BankAmericard® credit card is a fantastic credit card for anyone who needs some time to pay off some debt. That's because the card offers a 0% intro APR period of 18 billing cycles for purchases and any balance transfers made in the first 60 days. After that, the standard variable APR will apply. The card also comes with no annual fee so it won't put any additional stress onto your finances.
- No annual fee.
- No penalty APR.
- Access your FICO Score for free.