If you’re a fan of credit cards with simple cashback reward programs, you should have the Bank of America Rewards card on your radar.
Although cashback cards, like the Citi Double Cash Card, Blue Cash every day, and Chase Freedom Unlimited, attract more interest, this versatile rewards program has a lot to give cardholders who just want to receive a lot of cash back on their regular purchases.
The Bank of America Cash Rewards Credit Card offers a bonus to customers at Bank of America that can push the rewards rate above the top if you have enough cash in the bank. Learn more about this amazing card in this blog!
Bank of America® Cash Rewards Credit Card: Overview of Features
The Bank of America® Cash Rewards Credit Card offers 3% cashback on a user’s choice category, adding more flexibility to the rewards program. This also provides 2% cashback on purchases from food and wholesale clubs, making it a perfect card for regular transactions.
In order to maximize rewards visit the gas station (or another option category) before you head to the grocery store. You can easily max out the $2,500 spending cap every quarter, so make sure you earn cash back first on the most valuable spending category.
Rotate your card with a card that provides a discount on certain sales categories or a flat-rate card that provides more than 1% return on each sale. If you qualify, enroll in the Preferred Rewards program and redeem your rewards to receive bonus cash back into a Bank of America account.
Tips for Rewards
To receive extra cashback on your orders, you can also visit the BankAmeriDeals website. Remember, before you make your order, you must activate deals. However, Bank of America allows you to locate and trigger deals on the spot through its mobile app.
Stack your cashback with a rewards program in the grocery store or a gas rewards program like the Fuel Rewards Network. On top of the cash back you receive from the Bank of America Cash Rewards card, you can earn bonus cashback in your purchases.
How to Apply
Start your application by going to the Bank of America website, and then locating the Bank of America® Cash Rewards Credit Card on the site.
You will be asked for your personal information, employment status, the total amount of income, your primary source of income, and your monthly housing income.
Interest Rates and Fees
The Bank of America® Cash Rewards Credit Card is a great option if you are looking for a credit card to apply for. However, there are rates and fees to watch out for if you are considering this card.
- APR for purchases: 0% introductory APR for first 12 months, then it will be 13.99% – 23.99%
- APR for balance transfers: 0% introductory APR for first 12 months, then it will be 13.99% – 23.99%
- APR for cash advances: 16.99 – 26.99% (27.24% for Bank Cash Advances)
- Penalty APR: 29.99% if you have a late payment
- No annual fee
- Purchase fees: either $10 or 5%, whichever is greater
- Balance transfer fees: either $10 or 3%, whichever is greater
- Direct deposit and check cash advances: either $10 or 3%, whichever is greater
- ATM, over-the-counter, same-day online, and cash equivalent cash advances: either $10 or 5%, whichever is greater
- Overdraft protection cash advance (if enrolled): $12
- Foreign transaction fee: 3%
If you would like to get in contact with a Bank of America representative, you may be able to by calling 315-724-4022. We have also listed their mailing address below for you.
Bank of America Corporate Center
100 North Tryon Street
Charlotte, NC 28255
The Bank of America® Cash Rewards Credit Card is a great option with many rewards and benefits that will delight any cardholder. Visit their website if you are interested to get more information.
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the bank’s terms and conditions page before agreeing to anything.