Best Bank of America Credit Cards of September 2022


Best feature: Balance transfers

BankAmericard credit card

The BankAmericard credit card is a good option for those who are transferring a balance or who want an introductory APR promotion. This card charges no annual fee and no penalty APR, and it includes benefits to help cardholders learn more about credit.

New cardholders receive 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 12.99% – 22.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.

Cardholders receive access to credit education resources, which cover topics such as budgeting and using credit cards responsibly. Other benefits include monthly FICO credit score access for free and zero dollar liability for fraudulent transactions.

Best for people who:

  • Don’t want to pay an annual fee or a penalty APR.
  • Need to transfer a balance.
  • Want to learn more about credit.

Best feature: Grocery and gas spending

Bank of America Customized Cash Rewards credit card

For those who want to earn cash back on everyday spending, the Bank of America Customized Cash Rewards credit card is a good choice. It earns 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.

You can take advantage of the 2% and 3% cash back rates on up to $2,500 worth of purchases each quarter, which is a generous limit for earning bonus cash back. You can also earn a $200 cash rewards bonus by spending online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

If you become a Bank of America Preferred Rewards member, you will earn an additional 25% to 75% cash back, depending on your member level. All card perks are offered with a $0 annual fee and a 0% introductory APR for 18 billing cycles on purchases and any balance transfers made within 60 days of opening the account. A 3% fee (min. $10) applies. After that, a 16.24% to 26.24% variable APR applies.

Best for people who:

  • Want to choose a category for bonus cash back.
  • Want to earn cash back rewards.
  • Want to earn rewards without paying an annual fee.
  • Will redeem rewards as a Bank of America deposit.

Best feature: Large online bonus

Bank of America Premium Rewards credit card

For cardholders who want good travel benefits while earning bonus points on travel and dining purchases, the Bank of America Premium Rewards credit card is a good choice. The card charges no foreign transaction fees and has a large sign-up bonus.

Bank of America Premium Rewards credit card holders earn two points per dollar on dining and travel purchases and unlimited 1.5 points per dollar on all other purchases. Points never expire, and there is no limit to how many points can be earned. When new cardholders spend online bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening, they’ll receive 50,000 points online bonus points.

Although the card charges a $95 annual fee, cardholders receive up to a $100 statement credit every four years to cover their application fee for TSA Precheck or Global Entry and up to $100 in credits each year for incidental airline fees, including checked bags and seat upgrades. Other travel benefits include purchase protection, return protection, and trip cancellation or interruption insurance.

Best for people who

  • Are frequent international travelers.
  • Want to earn rewards for traveling and dining.
  • Can afford to earn the large sign-up bonus.
  • Want good travel benefits.

Best feature: Everyday travel rewards

Bank of America Travel Rewards credit card

Bank of America Travel Rewards credit card holders can earn travel rewards on everyday purchases. The card offers 15 billing cycles of interest-free financing on purchases and a sign-up bonus with a low spending requirement. Cardholders pay no annual fee and no foreign transaction fees.

With this card, you’ll earn an unlimited 1.5 points per dollar on every purchase. For the first 15 billing cycles, new cardholders receive a 0% intro APR on purchases. After that, there is a 16.24% to 26.24% variable APR. When cardholders spend 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, they’ll earn 25,000 points online bonus points.

Bank of America Travel Rewards credit card holders receive monthly FICO credit score access for free and a zero dollar liability guarantee for fraudulent transactions.

Best for people who:

  • Want to earn travel rewards on everyday purchases.
  • Want to travel internationally.
  • Can afford the sign-up bonus spending requirement.
  • Are not looking for status with a particular airline or hotel.

Best feature: 1.5% cash back on all spending

Bank of America Unlimited Cash Rewards credit card

The Bank of America Unlimited Cash Rewards credit card offers a simple cash back rewards program: 1.5% back on all spending. Cardholders who are also Bank of America Preferred Rewards customers can increase their cash back rate to 2.62% at the most, depending on their Premier Rewards tier.

The card offers a 0% introductory APR that lasts for 18 billing cycles on purchases and on balance transfers made in your first 60 days with an account. After that, the APR is 16.24% to 26.24% variable APR. There is no annual fee, but there is a 3% foreign transaction fee.

Cardholders can also earn a $200 online cash rewards bonus for spending at least $1,000 in their first three months with an account. Rewards earned with the Bank of America Unlimited Cash Rewards credit card do not expire, and there is no rewards limit.

Best for people who:

  • Want a simple rewards program.
  • Don’t want to pay an annual fee.
  • Would take advantage of the 0% introductory APR.

Best feature: Cash back for students

Bank of America Cash Rewards Credit Card for Students

The Bank of America Cash Rewards Credit Card for Students is a solid option for those with a limited credit history. This card can be especially valuable for students who need to manage normal personal expenses while building credit. For a card with a $0 annual fee, the rewards and initial interest-free period are great perks.

Bank of America Cash Rewards Credit Card for Students cardholders earn 3% cash back in a category of your choice, including gas, online shopping, travel, dining, drug stores, and home improvement and furnishings, and 2% cash back at grocery stores and wholesale clubs. The 3% and 2% cash back earnings are eligible on up to $2,500 in combined choice category, grocery store and wholesale club purchases each quarter (then 1%). You’ll earn 1% cash back on all other purchases.

This card offers a $200 online cash rewards bonus if you make at least $1,000 in purchases in the first 90 days of account opening. Bank of America also provides access to a monthly FICO score for free, which can be helpful if you want to closely monitor your credit while building a healthy credit history.

Best for people who:

  • Need to build a credit history.
  • Want to earn cash back rewards.
  • Can benefit from a year of interest-free purchases.
  • Have or will open a Bank of America checking or savings account.

Bank of America Travel Rewards Credit Card for Students

The Bank of America Travel Rewards Credit Card for Students is a good option for student travelers. This card has a $0 annual fee and earns an unlimited 1.5 points for every dollar spent with the card.

While the online bonus of 25,000 points isn’t as high as other travel cards, you’ll only have to spend $1,000 in purchases in the first 90 days of your account opening to earn it. This bonus is worth $250 as a statement credit for travel purchases. Travel rewards can be redeemed as a statement credit for travel expenses including cruises, flights, hotels, rental cars and even baggage fees.

Best for people who:

  • Want flexible travel rewards.
  • Don’t want to pay an annual fee.
  • Are not looking for status with a particular airline or hotel.
  • Are Bank of America customers.

Bank of America’s credit card rewards are managed through the BankAmericard Rewards portal. Rewards can be redeemed for cash back, gift cards and travel experiences.

Bank of America cards earn between one and three points per dollar spent. Depending on which card you use, bonus points may be offered in certain categories such as travel, gas or groceries.

If you choose to use your points as cash back rewards, they will be worth at least 1 cent each – or more if you qualify for Preferred Rewards. Travel rewards are issued as a statement credit for 1 cent per point, though some cobranded cards and cards with Premium Air Rewards use a different redemption model. Redemption values for gift cards, special events and other redemption options will vary. You can begin redeeming points with just 2,500 points in your account.

Current Bank of America customers can increase their cash back redemption by enrolling in the Preferred Rewards program. Preferred Rewards assigns customers to tiers with a 25%, 50% or 75% rewards bonus based on the total balance in their Bank of America accounts. For example, someone averaging over $100,000 in combined balances would be eligible to earn a 75% rewards bonus on cash back redemptions into a Bank of America checking or savings account. If you are eligible for the 75% rewards bonus, a $100 cash back rewards redemption would increase to $175.

Make sure to check the terms of your specific card for any details about the Preferred Rewards program or points expiration, as these differ depending on which Bank of America credit card you use.

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