Bank of America Credit Cards Review

(November 2024)

Bank of America Credit Cards Review

In This Article

Our Verdict

Bank-of-America-Credit-Cards-verdict

Choose Bank of America credit cards and enjoy the perks of being a loyal customer.

Whether you are looking for rewards, cash back, travel benefits, or business solutions, Bank of America has a credit card that suits your needs and preferences. With Bank of America credit cards, you can earn points, miles, or cash back on every purchase, and redeem them for travel, gift cards, statement credits, or even charitable donations. You can also enjoy perks like no annual fees, no foreign transaction fees, low intro APRs, and free access to your FICO® Score.

But that’s not all. As a Bank of America credit card holder, do you know that you can also become a Preferred Rewards member and get 25%-75% more rewards on every purchase, depending on your balance? You can also get benefits like waived fees, priority service, discounts, and more from Bank of America and its partners. Plus, you can use the Bank of America mobile app to manage your account, pay bills, lock or unlock your card, and get alerts and notifications.

Sounds too good to be true, right? Well, there is a catch. Bank of America credit cards are not for everyone. You need to have a good or excellent credit score to qualify for most of them. You also need to be a U.S. citizen or resident with a valid Social Security number. If you are not careful, you may end up paying high interest rates, late fees, or penalty fees if you miss a payment or go over your credit limit.

So, before you apply for a Bank of America credit card, make sure you read the terms and conditions carefully and compare them with other options. Bank of America credit cards are great for loyal customers who can take advantage of the rewards and benefits, but they might not be the best choice for everyone.

Bank of America
Corporate Address: 100 North Tryon Street, Charlotte, NC 28255, USA
Phone Number: 1-704-386-5681, 1-704-386-5681, 1-704-386-6699, 1-800-432-1000 (USA), 1-315-724-4022
www.bankofamerica.com

Pros

With Bank of America credit, cards you can:

  • Earn rewards on every purchase. You can choose from different types of rewards, such as cashback, points, or miles.
  • Enjoy perks and benefits as a Preferred Rewards member.
  • Save money with no annual fees and low intro APRs.
  • Access your account and manage your card easily.
  • Travel with confidence and convenience.

Cons

  • Have a good or excellent credit to qualify.
  • Be ready to pay high interest rates and fees if you are not careful.
  • Face competition from other cards with better rewards or benefits.
  • Deal with customer service issues or complaints.
  • Limit your options if you want to switch or cancel your card.

Who Bank of America Credit Cards Is Best for?

Who-Bank-of-America-Credit-Cards-Is-Best-for

Bank of America credit cards are best for you if you:

  • Want to earn rewards on every purchase.
  • Have a qualifying Bank of America account and want to enjoy perks and benefits as a Preferred Rewards member.
  • Want to save money with no annual fees and low intro APRs.
  • Want to access your account and manage your card easily.
  • Want to travel with confidence and convenience.

Who Bank of America Credit Cards Is Not Right For?

Consider alternative credit cards if you:

  • Have a low or fair credit score. Most Bank of America credit cards require a good or excellent credit score, which means 700 or higher.
  • Apply for too many credit cards in a short time.
  • Want to switch or upgrade your card easily.
  • Prefer cards with better rewards or benefits.
  • Experience customer service issues or complaints.

What Bank of America Credit Cards Offer?

  • Bank of America® Customized Cash Rewards credit card
  • Bank of America® Unlimited Cash Rewards credit card
  • Bank of America® Travel Rewards credit card
  • Bank of America® Premium Rewards® credit card
  • BankAmericard® credit card
  • Bank of America® Cash Rewards Secured credit card
  • Bank of America® Cash Rewards for Students credit card
  • Bank of America® Travel Rewards for Students credit card

Bank of America Credit Card Details

Bank-of-America-Credit-Card-Details

Bank of America® Customized Cash Rewards credit card

Earn 3% cash back in the category of your choice, 2% cash back on grocery store and wholesale club purchases, and 1% cash back on everything else. Get a $200 bonus after spending $1,000 in the first 90 days. Enjoy no annual fee and a 0% intro APR on purchases and balance transfers for 15 billing cycles.

Bank of America® Unlimited Cash Rewards credit card

Earn unlimited 1.5% cash back on all purchases. Get a $200 bonus after spending $1,000 in the first 90 days. Enjoy no annual fee and a 0% intro APR on purchases and balance transfers for 15 billing cycles.

Bank of America® Travel Rewards credit card

Secure unlimited 1.5 points for every $1 spent on all purchases. Get a 25,000 points bonus after spending $1,000 in the first 90 days. Enjoy no annual fee and no foreign transaction fees.

Bank of America® Premium Rewards® credit card

Get unlimited 2 points for every $1 spent on travel and dining purchases, and 1.5 points for every $1 spent on other purchases. Gain a 60,000 points bonus after spending $4,000 in the first 90 days. Enjoy a $95 annual fee and travel perks like up to $200 in travel statement credits and airport lounge access.

BankAmericard® credit card

Enjoy no annual fee and a 0% intro APR on purchases and balance transfers for 18 billing cycles. Save on interest and pay off debt faster with this low-rate card.

Bank of America® Cash Rewards Secured credit card

Build or improve your credit with this secured card. Earn 3% cash back in the category of your choice, 2% cash back on grocery store and wholesale club purchases, and 1% cash back on everything else. Enjoy no annual fee and a 0% intro APR on purchases for 12 billing cycles.

Bank of America® Cash Rewards for Students credit card

Earn 3% cash back in the category of your choice, 2% cash back on grocery store and wholesale club purchases, and 1% cash back on everything else. Get a $200 bonus after spending $1,000 in the first 90 days. Enjoy no annual fee and a 0% intro APR on purchases and balance transfers for 15 billing cycles.

Bank of America® Travel Rewards for Students credit card

Earn unlimited 1.5 points for every $1 spent on all purchases. Get a 25,000 points bonus after spending $1,000 in the first 90 days. Enjoy no annual fee and no foreign transaction fees.

Where Bank of America Credit Cards Stand Out

Where-Bank-of-America-Credit-Cards-Stand-Out

Offer Customized Cash Back Rewards

Choose from different types of cash back rewards, such as 3% cash back in the category of your choice, 2% cash back on grocery store and wholesale club purchases, and 1% cash back on everything else.

Provide Perks And Benefits for Preferred Rewards Members

If you have a qualifying Bank of America account, you can get 25%-75% more rewards on every purchase, depending on your balance. You can also enjoy waived fees, priority service, discounts, and more from Bank of America and its partners.

Save Money with No Annual Fees And Low Intro APRs

Know that many Bank of America credit cards have no annual fees and offer 0% intro APRs on purchases and balance transfers for a limited time, which can help you save on interest and pay off debt faster.

Access Your Account And Manage Your Card Easily

Use the Bank of America mobile app or online banking to check your balance, pay bills, lock or unlock your card, and get alerts and notifications. You can also view your FICO® Score for free and monitor your credit health.

Travel with Confidence And Convenience

Are you aware that some Bank of America credit cards have no foreign transaction fees, which can save you money when you travel abroad? You can also get travel insurance, such as trip cancellation, trip delay, baggage delay, and lost luggage reimbursement.

Allow Wider Availability

With over 3821 branches and 16330 ATMs in more than 38 states, Bank of America can be your sure bet if you need a bank that has a multi-regional presence.

Where Bank of America Credit Cards Fall Short

Require Good or Excellent Credit to Qualify

Understand that most Bank of America credit cards require a good or excellent credit score, which means 700 or higher. If you have a lower credit score, you might not get approved or get a high-interest rate.

Deny Applications with Too Many Recent Hard Credit Inquiries

Be aware that Bank of America can be strict when evaluating credit card applications, and it might deny your application if you have too many recent hard credit inquiries from other issuers.

Do Not Allow Switching Or Upgrading Cards Easily

You cannot switch or upgrade your card to a different one without applying for a new card and closing your old one.

How to Qualify for Bank of America Credit Cards

To qualify for Bank of America credit cards, you need to meet some basic requirements and criteria. Explore

  • Check your credit score and report. You need a good or excellent credit score (700 or higher) to qualify for most cards.
  • Compare different credit cards and offers. You can choose from cash back, travel, lower interest, points, or building credit cards.
  • See if you are pre-qualified for any credit cards.
  • Apply for the credit card of your choice. You can apply online, by phone, or in person. You need to provide your personal, financial, and employment information, and agree to a hard credit inquiry.
  • Use your credit card responsibly and enjoy the benefits.

How to Apply for Bank of America Credit Cards

To apply for a Bank of America credit card online, by phone, or in person, Here are the steps you need to follow:

  • Online: Visit the Bank of America website and find the card that you want. Click on the “Apply Now” button and fill out the application form with your personal, financial, and employment information. You also need to agree to a hard credit inquiry, which may affect your credit score. Expect an instant decision or a message that your application is pending review.
  • Phone: Call 800-932-2775 and speak to a customer service representative. You need to provide the same information as the online application and also agree to a hard credit inquiry.
  • In-person: Visit a Bank of America branch near you. You need to bring your identification, such as your driver’s license or passport, and proof of income, such as your pay stubs or tax returns.

Alternative to Bank of America Credit Cards

Chase Credit Cards

Pick Chase credit cards to enjoy a variety of credit cards for different needs and preferences, such as cash back, travel, business, or balance transfer. Chase credit cards have better rewards and benefits than Bank of America credit cards, especially for travel. For example, the Chase Sapphire Reserve® and the Chase Sapphire Preferred® Card offer generous welcome bonuses, flexible redemption options, and travel perks like airport lounge access and travel insurance.

Petal® 2 “Cash Back, No Fees” Visa® Credit Card

Imagine an unsecured credit card that does not require a credit check, fees, or interest. Well, this is the card for you.  You can get customized cash back rewards, ranging from 1% to 1.5%, based on your payment history. It also helps you build or improve your credit by reporting to the three credit bureaus.

Amazon Prime Store Card

This is a store card that offers 5% cash back on Amazon purchases for Prime members, or a promotional financing option. It also offers exclusive discounts and deals for you.

Customer Reviews

Bank of America has an A+ rating from the Better Business Bureau, but only 1.11 out of 5 stars based on 1,015 customer reviews4. It also has 7,467 complaints closed in the last 3 years and 2,128 complaints closed in the last 12 months.

On TrustPilot, Bank of America has a bad rating with only 1.3 out of 5 stars based on 1,911 customer reviews5. It also has a poor trust score of 1.8 out of 105.

Likewise on ConsumerAffairs, Bank of America has a low rating with only 1.5 out of 5 stars based on 1,915 customer reviews6. It also has a 1.6 out of 5 stars rating based on 4,981 reviews for its overall banking services.

Pro Tips

  • Know your credit score and report. Your credit score and report affect your chances of approval and the interest rate you get.
  • Compare different credit cards and offers. Bank of America offers a variety of credit cards for different needs and preferences, such as cash back, travel, lower interest, points, or building credit.
  • See if you pre-qualify for any credit cards. Pre-qualification is a way to check your likelihood of approval for a credit card without affecting your credit score. You can see if you pre-qualify for any Bank of America credit cards by visiting the Bank of America website and clicking on “Find a Credit Card Quickly”.
  • Apply for the credit card of your choice. Once you have decided on the credit card that you want, you can apply for it online, by phone, or in person.
  • Use your credit card responsibly and enjoy the benefits.

Recap

Note that Bank of America credit cards are a great option for you if you want to earn rewards, save money, and enjoy perks and benefits. However, they are not suitable for everyone, as they require good or excellent credit, have strict application rules, and face competition from other cards.

To choose the best Bank of America credit card for you, you need to check your credit score, compare different cards and offers, see if you are pre-qualified, apply for the card of your choice, and use it responsibly. By following these steps, you can find the card that works best for your needs and preferences.

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