Bank of America Cash Rewards
A decent cash back card for a spend category of your choice (3% on one of: gas, online shopping, dining, travel, drug stores, or home improvement), plus 2% on groceries, with no annual fee and a $200 signup bonus.
Your total savings: $1,638 over the next 5 years
View reward detailsRewards & Perks
Reward Highlights
- $200 online cash rewards bonus offer: Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.
- 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 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%.)
Other Rewards & Perks
- If you're a Bank of American Gold Preferred Rewards client, you'll earn 25% more points on every purchase.
- If you're a Bank of American Platinum Preferred Rewards client, you'll earn 50% more points on every purchase.
- If you're a Bank of American Platinum Honors Preferred Rewards client, you'll earn 75% more points on every purchase.
- Free online access to your FICO credit score: You can opt-in to access your FICO Score updated monthly for free, within your Mobile Banking app or in Online Banking.
- Fraud protection: Your card transactions will be monitored for possible signs of fraudulent activity. (Depending on the credit card and issuer, this may also include a $0 liability guarantee for fraudulent transactions.)
- Overdraft protection: A service to help prevent declined purchases, returned checks, or other overdrafts.
- Account alerts: Stay on top of your balances and due dates by setting customer email or text alerts.
Special Signup (Promo) Rewards & Perks
- $200 online cash rewards bonus offer: Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.
Rates & Fees
Summary of Rates & Fees
- No annual fee.
- APR for purchases and BTs: 13.99-23.99% (0% for first 12 months).
- Foreign transaction fee: 3%.
Annual Fee: $0
Interest Rate (“Purchase APR”): 13.99-23.99% (0% for the first 12 months)
Cash Advance Notes
- Direct deposit and check cash advance fee: Either $10 or 3% of the amount of each transaction, whichever is greater.
- ATM, over-the-counter, same-day online, and cash equivalent cash advance fee: Either $10 or 5% of the amount of each transaction, whichever is greater.
- Overdraft protection cash advance fee (if enrolled): $12 for each transaction.
- APR for direct deposit and check cash advances: 16.99-26.99%.
- APR for bank cash advances: 27.24%.
- APRs will vary with the market based on the Prime Rate.
Other Info
Date Introduced: 2013-03-04
Date Last Updated: 2021-01-15
Summary of Penalty Conditions
This APR will vary with the market based on the Prime Rate. This APR may be applied to new transactions on your account if you: • Make a late payment. How Long Will the Penalty APR Apply?: If your APRs are increased, the Penalty APR will apply indefinitely.
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