If you’re looking for a credit card that rewards every dollar you spend without the need to track categories, the Bank of America Unlimited Cash Rewards could be your best everyday companion. It’s built for simplicity, giving you consistent returns on all purchases.
This card also shines when paired with Bank of America’s Preferred Rewards program, allowing cardholders to amplify their cash back potential with minimal effort. Whether you’re a casual shopper or a frequent spender, this card offers consistent value with no annual cost.
Bank of America Unlimited Cash Rewards Benefits
- Unlimited 1.5% Cash Back on All Purchases: This card gives you a flat 1.5% back on every purchase—no need to worry about rotating categories, enrollment windows, or specific merchant codes. Whether it’s groceries, gas, streaming services, or your next online order, you earn rewards at a fixed rate that doesn’t change.
- Earn Up to 2.62% with Preferred Rewards: Bank of America’s Preferred Rewards customers get a significant cash back boost—25%, 50%, or 75%—depending on their tier. This means your 1.5% base can become 1.87%, 2.25%, or even 2.62%.
- Introductory APR on Purchases and Transfers: Enjoy a 0% introductory APR for 15 billing cycles on purchases and on balance transfers made within the first 60 days of account opening. After the intro period, the APR becomes variable (currently between 18.24% and 28.24%) based on your credit profile, offering flexibility for managing larger expenses.
- $200 Online Bonus Offer: New cardholders can earn a $200 cash bonus by making at least $1,000 in purchases within the first 90 days. It’s a fast and easy way to start benefiting from the card, especially when paired with the 0% intro APR.
- No Annual Fee: There’s no annual fee to worry about—so you keep 100% of the rewards you earn, regardless of how often you use the card. This makes the card a strong long-term option for anyone looking to build value without paying for it.
- Cash Rewards That Never Expire: Your earned rewards stay available for as long as your account remains open and in good standing. You can use them as needed, whether saving up for a larger redemption or cashing out frequently in smaller amounts.
- Flexible Redemption Options: Redeem your cash back as a statement credit, direct deposit to a BOA checking or savings account, transfer to an eligible Merrill investment account, or use it at checkout through Amazon or PayPal. You also aren’t required to meet a minimum redemption threshold, making it easy to access your rewards.
- Visa Signature Benefits: The card comes with Visa Signature protections including travel assistance, purchase security, extended warranty coverage, and concierge services. These features offer additional peace of mind whether you’re shopping online, traveling, or handling day-to-day purchases.
- Mobile Banking and Account Management: Use the Bank of America mobile app to monitor your account, pay your bill, track your rewards, and manage alerts and settings on the go.
Qualification Requirements
- U.S. Residency Required: You must be a U.S. citizen or permanent resident with a valid U.S. address and be at least 18 years old.
- Good to Excellent Credit Recommended: Applicants typically need a credit score of 670 or higher to qualify for this card.
- No Bank Account Needed to Apply: You don’t need to be a current BOA banking customer to apply, but enrollment in Preferred Rewards requires an eligible BOA or Merrill account.
- Income and Expense Disclosure: During the application, you’ll be asked to provide your annual income and housing expense details.
- Positive Credit History: Applicants with a history of on-time payments and no recent bankruptcies or charge-offs are more likely to be approved.
- Balance Transfer Eligibility: To take advantage of the balance transfer intro APR, you must complete transfers within 60 days of account opening.
How to Apply for the Unlimited Cash Rewards Card
- Collect Your Information: Be prepared with your Social Security number, address, date of birth, income, and monthly housing cost.
- Visit Bank of America’s Website: Go to the credit cards section and choose the Unlimited Cash Rewards card.
- Start Your Online Application: Fill out the secure application form with your personal and financial details.
- Review Rates and Disclosures: Read all the terms related to APR, balance transfers, rewards, and fees before submitting.
- Submit and Receive a Decision: Most applicants receive a response within minutes of submitting their application online.
- Activate and Start Spending: Once approved, activate your card and begin earning unlimited cash back from day one.
Frequently Asked Questions
Is there an annual fee for this card?
No. The Bank of America Unlimited Cash Rewards card does not charge an annual fee.
Can I earn more than 1.5% cash back?
Yes. If you’re enrolled in Preferred Rewards, your earnings can increase to 1.87%, 2.25%, or 2.62%, depending on your program tier.
Do my rewards expire?
No. As long as your account is open and in good standing, your rewards do not expire.
How do I redeem my cash back?
You can redeem your rewards for a statement credit, direct deposit, Merrill transfer, or online checkout with Amazon or PayPal.
