Bank of America Credit Cards Review

(February 2025)

Bank of America Credit Cards Review

In This Article

Our Verdict

Bank of America credit cards are among the most popular and versatile cards in the market, offering a range of options for different types of consumers. Whether you are looking for cash back, travel rewards, low interest, balance transfer, secured, student, or business cards, Bank of America has something for you. You can also choose from various card designs, including your favorite MLB team or the U.S. flag, to show your personality and pride.

Bank of America credit cards also come with some unique features and benefits that make them stand out from the crowd. For example, you can enjoy a 10% customer bonus when you redeem your cash back into a Bank of America checking or savings account, or a 25% to 75% rewards bonus if you are a Preferred Rewards member.

You can also access the Bank of America Travel Center, where you can book flights, hotels, car rentals, and more with your points at a discounted rate. You can also take advantage of the Bank of America Museums on Us program, where you can get free admission to over 200 museums across the U.S. on the first full weekend of every month.

However, Bank of America credit cards are not without their drawbacks. Some of the cards have high annual fees, foreign transaction fees, balance transfer fees, or cash advance fees that can eat into your rewards or savings. Some of the cards also have strict eligibility requirements, such as a minimum security deposit for the secured card or a minimum spending threshold for the bonus category card. Some of the cards also have limited redemption options, such as statement credits only for the travel card or MLBshop.com gift cards only for the MLB card.

Therefore, before you apply for a Bank of America credit card, carefully compare the different cards and find the one that suits your needs and preferences best. Also, consider your credit score, income, spending habits, and financial goals to determine which card will help you achieve them. Moreover, read the terms and conditions carefully and understand the charges that may apply to your card.

Bank of America
Corporate Address: 100 North Tryon Street Charlotte, NC 28255 United States
Phone Number: 1-800-432-1000
www.bankofamerica.com

Pros

  • Allows you to choose from a variety of cards that suit your needs and preferences, such as cashback, travel rewards, low interest, balance transfer, secured, student, or business cards.
  • Earn a 10% customer bonus when you redeem your cash back into a Bank of America checking or savings account, or a 25% to 75% rewards bonus if you are a Preferred Rewards member.
  • Access the Bank of America Travel Center, where you can book flights, hotels, car rentals, and more with your points at a discounted rate.
  • Get free admission to over 200 museums across the U.S. on the first full weekend of every month with the Bank of America Museums on Us program.
  • Allows you to show your personality and pride with various card designs, including your favorite MLB team or the U.S. flag.

Cons

  • Has high annual fees, foreign transaction fees, balance transfer fees, or cash advance fees that can eat into your rewards or savings.
  • Has strict eligibility requirements, such as a minimum security deposit for the secured card or a minimum spending threshold for the bonus category card.
  • Has limited redemption options, such as statement credits only for the travel card or MLBshop.com gift cards only for the MLB card.
  • Has low credit limits or high-interest rates that can affect your credit score or debt management.
  • Has poor customer service or fraud protection that can cause inconvenience or frustration.

Who Bank of America Credit Card Is Best for

Choose Bank of America credit cards if you are an individual who:

  • Wants to earn cash back or travel rewards on his/her spending, with the option to choose your bonus categories or enjoy a flat-rate earning structure.
  • Has a Bank of America checking or savings account, or is a Preferred Rewards member, and can benefit from the 10% to 75% rewards bonus on his/her card earnings.
  • Needs a low-interest or balance transfer card to pay off his/her debt or finance a large purchase, with no annual fee and no penalty APR.
  • Is looking for a secured or student card to build or improve his/her credit history, while also earning rewards and enjoying benefits.
  • Appreciates the flexibility and convenience of redeeming his/her rewards for statement credits, travel bookings, gift cards, or deposits into his/her Bank of America account.

Who Bank of America Credit Card Isn't Right For

Consider other alternatives if you are an individual who:

  • Wants to earn rewards on specific categories that Bank of America does not offer, such as gas, groceries, entertainment, or online shopping.
  • Does not have a Bank of America checking or savings account, or is not a Preferred Rewards member, and cannot take advantage of the rewards bonus or other perks.
  • Needs a card with no foreign transaction fees, no balance transfer fees, or no cash advance fees, as some of the Bank of America cards charge these fees.
  • Is looking for a card with a high credit limit, a low-interest rate, or a generous welcome bonus, as some of the Bank of America cards have low limits, high rates, or modest bonuses.
  • Prefers to have more options and flexibility in redeeming his/her rewards, such as transferring them to other loyalty programs, using them for merchandise or charitable donations, or applying them to their bill.
bank of America card

What Bank of America Credit Card Offers

Bank of America offers 10 personal credit cards. They are:

  • Bank of America® Customized Cash Rewards credit card
  • Bank of America® Unlimited Cash Rewards credit card
  • Bank of America® Travel Rewards credit card
  • BankAmericard® credit card
  • BankAmericard® Secured credit card
  • Bank of America® Premium Rewards® credit card
  • BankAmericard® Student Cash Rewards Credit Card
  • BankAmericard® Student Travel Rewards Credit Card
  • MLB™ Credit Card
  • S. Pride® Credit Card

Bank of America Credit Card Details

Bank of America® Customized Cash Rewards

With this card, you can choose one of six categories to earn 3% cash back on up to $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, and 2% cash back at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club purchases each quarter), and 1% cash back on all other purchases.

You can also get a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. This card has no annual fee and a 0% introductory APR for 15 billing cycles on purchases and balance transfers made within 60 days of account opening (then a variable APR of 13.99% – 23.99%).

Bank of America® Unlimited Cash Rewards

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Get unlimited 1.5% cash back on all purchases, with no annual fee and no categories to track. You can also earn a $200 online cash rewards bonus after spending $1,000 in the first 90 days of account opening. This card has a 0% introductory APR for 15 billing cycles on purchases and balance transfers made within 60 days of account opening (then a variable APR of 13.99% – 23.99%).

Bank of America® Travel Rewards

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

Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees. Redeem your points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees. You can also get 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. This card has a 0% introductory APR for 12 billing cycles on purchases (then a variable APR of 13.99% – 23.99%).

BankAmericard® Credit Card

Bank-of-America-Credit-Card-Details

Get a low-interest rate and no annual fee. It also has a 0% introductory APR for 18 billing cycles on purchases and balance transfers made within 60 days of account opening (then a variable APR of 12.99% – 22.99%). This card has no penalty APR and no late payment fee for your first late payment.

BankAmericard® Secured Credit Card

Choose this card to build or improve your credit history with responsible use. It requires a minimum security deposit of $300 (maximum $4,900) that is refundable when you close your account and pay your balance in full. Your credit limit equals your security deposit. You can also request an increase or decrease to your security deposit after your account has been opened for at least six months. This card has an annual fee of $0 the first year, then $29.

Bank of America® Premium Rewards® Credit Card

Bank of America® Premium Rewards® Credit Card

Get unlimited 2 points per $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases. You can also get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections. You can also get 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening. This card has an annual fee of $95.

BankAmericard® Student Cash Rewards Credit Card

Bank-of-America-Credit-Cards-verdict

This card is similar to the Bank of America® Customized Cash Rewards credit card, but you can only use it if you are a student who wants to build his/her credit history while earning cash-back rewards. It also offers a $50 statement credit bonus after you make at least one purchase within the first two months of account opening.

BankAmericard® Student Travel Rewards Credit Card

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

Choose this card if you are a student who wants to build his/her credit history while earning travel rewards. It also offers a lower minimum redemption amount of 2,500 points for travel statement credits.

MLB™ Credit Card

MLB™ Credit Card

This card lets you show your support for your favorite Major League Baseball team while earning cash-back rewards. It is similar to the Bank of America® Customized Cash Rewards credit card, but it also offers a $150 MLBshop.com Gift Card bonus after you make at least $500 in purchases in the first 90 days of account opening.

U.S. Pride® Credit Card

U.S. Pride® Credit Card

This card lets you express your pride in America while earning cash-back rewards. It is similar to the Bank of America® Unlimited Cash Rewards credit card, but it also offers a unique card design featuring the U.S. flag.

Where Bank of America Credit Card Stands Out

Where-Bank-of-America-Credit-Card-Stands-Out

Rewards Programs

Understand that Bank of America offers a variety of credit cards with robust rewards programs, including cash back, travel rewards, and points-based systems, allowing you to earn valuable rewards for your spending.

Preferred Rewards

You can get a Preferred Rewards program, which allows you to earn additional benefits and bonuses, such as higher cashback rates and reduced fees, based on your banking and investment relationships with the bank.

Introductory 0% APR Offers

Enjoy introductory 0% APR on purchases and balance transfers, which can allow you to save on interest or consolidate debt.

Wide Acceptance

Bank of America is one of the largest banks in the United States, so its credit cards have a wide range of acceptability, both domestically and internationally, making them a convenient choice for everyday spending and travel.

Where Bank of America Credit Card Falls Short

High APR

You may experience relatively high annual percentage rates (APR), which can be a drawback for individuals who carry a balance and are looking for lower interest rates.

Limited Travel Partners

Bank of America’s travel rewards program, while competitive, may have fewer transfer partners compared to some other major credit card issuers, limiting redemption options for you if you are a frequent traveler.

Foreign Transaction Fees

Many Bank of America credit cards charge foreign transaction fees, making them less cost-effective for international travel. There are other cards with no foreign transaction fees.

How to Qualify for a Bank of America Credit Card

How-to-Qualify-for-a-Bank-of-America-Credit-Card

To qualify for a Bank of America credit card, you need to meet certain criteria. Here’s a detailed overview of the common requirements:

  • Good Credit Score: Bank of America issues credit cards to applicants with good to excellent credit scores. A FICO credit score of 700 or higher is often a good benchmark, but some cards may be available to you if your credit score is in the mid-600s.
  • Steady Income: You should have a reliable source of income to demonstrate your ability to repay the credit card balance. Bank of America will consider your income when evaluating your application.
  • Age: You must be at least 18 years old to apply for a credit card on your own. If you’re under 21, you may need to demonstrate independent income or have a co-signer.
  • Residential Information: Provide your current address and other contact details, so Bank of America can verify your identity.
  • Debt-to-income Ratio: While not always explicitly stated, a reasonable debt-to-income ratio can be a factor in your credit card approval. Bank of America may assess your ability to manage additional credit based on your existing debts.
  • Legal Residency: You must be a U.S. citizen or a legal resident to apply for a Bank of America credit card.
  • Banking Relationship: Having an existing account or a relationship with Bank of America, such as a checking or savings account, may improve your chances of approval, especially if you’re eligible for its Preferred Rewards program.

How to Apply for a Bank of America Credit Card

How-to-Apply-for-a-Bank-of-America-Credit-Card

To apply for a Bank of America credit card, follow these brief but detailed steps:

  • Visit Bank of America’s Website: Go to the Bank of America website to explore their credit card offerings and choose the one that suits your needs.
  • Check Eligibility: Review the card’s eligibility requirements, including credit score, income, and other criteria, to ensure you meet the qualifications.
  • Online Application: Click the “Apply Now” or “Get Started” button on the credit card’s webpage. Then, the website directs you to an online application form.
  • Provide Personal Information: Fill out the application with your details, including name, contact information, Social Security Number, and employment information.
  • Choose Card Features: Select any specific features or benefits associated with the card, such as rewards programs or introductory offers.
  • Review Terms and Conditions: Carefully review the card’s terms and conditions, including the annual fee, APR, and other important information.
  • Submit your application electronically.
  • Wait for Decision: You typically receive a decision within a few minutes or a few business days.

Alternatives to Bank of America Credit Card

Chase Sapphire Preferred® Card

This is a popular travel rewards credit card that offers valuable points for travel and dining. It also provides a generous sign-up bonus and has a variety of travel benefits.

American Express® Gold Card

Choose this card if you are a foodie or traveler. This card offers significant rewards for dining and groceries. It also includes travel perks like airline fee credits and hotel benefits.

Citi® Double Cash Card

If you’re looking for a straightforward cashback card, the Citi Double Cash Card offers 2% cash back on all purchases – 1% when you make a purchase and 1% when you pay it off.

Customer Reviews

On NerdWallet, Bank of America credit cards typically receive ratings in the range of 3.5 to 4.5 stars with thousands of customer reviews.

Likewise, on TrustPilot, Bank of America has a mixed reputation, with ratings ranging from 1 to 4 stars, based on thousands of customer reviews, while on ConsumerAffairs, Bank of America credit cards tend to have a mixed rating, often ranging from 2 to 4 stars, with hundreds of customer reviews.

Pro Tips

  • Assess Your Needs: Determine your spending habits and goals to select a card that aligns with your preferences, whether it’s for rewards, cashback, or balance transfers.
  • Check Your Credit: Make sure your credit score meets the card’s requirements to increase your chances of approval.
  • Compare Cards: Evaluate multiple Bank of America credit card options to find the one with the best features and benefits for your situation.
  • Read Terms and Fees: Carefully review the card’s terms, fees, and conditions to understand its costs and benefits.
  • Consider Existing Accounts: If you’re a Bank of America customer, explore cards that offer additional benefits through the Preferred Rewards program.
  • Understand Rewards: Fully grasp how the rewards program works, including earning rates, redemption options, and any promotional offers.
  • Review Customer Reviews: Read customer reviews and ratings to gain insights into others’ experiences with the specific card you’re interested in.
  • Stay Informed: Keep up with any changes to the card’s terms, benefits, and fees to make the most of your card over time.

Recap

In a nutshell, while Bank of America credit cards have their strengths, it’s smart to explore reviews and ratings on different websites to see how they align with your expectations and financial needs.

Bank of America credit cards are not perfect, but they are certainly impressive. They offer a variety of choices and benefits that can appeal to many consumers. They also have some drawbacks that you can avoid or minimize with careful planning and responsible use. However, if you are looking for a credit card that can help you save money, earn rewards, build credit, or support your favorite team or country, Bank of America credit cards may be the right choice for you.

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