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Bank of America® Unlimited Cash Rewards credit card
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On Bank of America's secure site
Rewards Rate
1.5% cash back on all purchases
Intro APR
0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. A 3% fee (min $10) applies to all balance transfers.
Regular APR
14.24% - 24.24% Variable APR on purchases and balance transfers
Card Network
Annual Fee
$0
Credit Score Needed
Good, Excellent
Offer Details
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

  • Earn unlimited 1.5% cash back on all purchases.

  • If you're a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn up to 2.62% cash back on every purchase. 

  • No annual fee.

  • No limit to the amount of cash back you can earn and cash rewards don’t expire. 

  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 14.24% - 24.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.

  • Contactless Cards - The security of a chip card, with the convenience of a tap.

  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

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All content is written by editorial staff or writers engaged by the site, not by marketers/sales staff. Editors responsible for producing the content are not in contact or affiliated with any advertiser and are not compensated based on success of the affiliate links. All decisions regarding recommendations are determined separately from advertising relationships. Any opinions, analyses, reviews or recommendations expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

Bank of America® Unlimited Cash Rewards credit card Review

April 1, 2022

Who is the Bank of America® Unlimited Cash Rewards credit card for?

The Bank of America® Unlimited Cash Rewards credit card suits any card owner looking for a cash back rewards card without worrying about a handful of rotating categories and their varying rewards rates. This card allows users to earn a flat 1.5% cash back on every single purchase, day in and day out.

This card comes with no annual fee, making it suitable for the fee-averse cardholder. If you are already a Bank of America® Preferred Rewards member, you can earn even greater cash back rewards.

We recommend this card for anyone who wants a simple cash back program but does not want to pay for it. This free card can be paired with travel cards to maximize rewards and cash back whether you are at home or abroad.

Sign Up Bonus

Once you spend $1,000 on purchases with your credit card during the first 90 days of account opening, you will receive a $200 online cash rewards bonus. For no annual fee, you are being rewarded with $200 of cash rewards which can be spent on whatever you choose. Bank of America® is practically paying you to use their credit card, and ultimately this early bonus makes the card very valuable.

Cash Back

The Bank of America® Unlimited Cash Rewards credit card offers a flat 1.5% cash back on every purchase, every time. There is no limit to the amount of cash back you can earn and to top it off, the cash rewards never expire.

The flat rate on cash back really simplifies things, there are no categories to worry about nor do you need to worry whether or not an expense falls into a specific category. 1.5% may not seem like much but you'd be surprised just how much it adds up to - a mere $2000 every month on groceries and gas would net you $30 in savings, that's $360 in cash back each year!

Redeeming cash rewards is pretty straightforward:

  1. You can get a statement credit to your credit card.
  2. Cash rewards can be deposited straight to your Bank of America® checking or savings account.
  3. If you wish, you can credit them into an eligible Merrill® account. Over 500 accounts qualify for this offer.

 

No Annual Fee

Cardholders can enjoy the benefits of unlimited cash back at no annual cost, making this card ideal for everyday purchases. Since the card costs nothing to own, it makes sense to use it on everyday transactions. If you want, you can pair it with another Bank of America® rewards card for specialized and international spending, this way you will be able to maximize your rewards at no additional cost.

Benefits

The Unlimited Cash Rewards credit card is particularly enticing for those who already bank with Bank of America® as they're able to take advantage of the Preferred Rewards Membership program, which supercharges rewards earning potential. Existing customers can earn 25-75% more cash back rewards -- which can push this card ahead of all others in the cash back rewards category. 

The card also offers a compelling introductory 0% APR for your first 15 billing cycles for purchases, and for any balance transfers made within 60 days of opening your account. After the introductory APR period ends, the card offers a competitive 14.24% to 24.24% Variable APR. Do note that a 3% fee ($10 minimum) applies to all balance transfers.

Protections

Bank of America® also offers a variety of protection packages. You will receive a $0 liability guarantee on any fraudulent charges, which Bank of America® will block immediately. Also, Bank of America® uses chip technology to enhance security. This technology can be used in over 130 countries. 

You can choose to set up account alerts for whatever purposes you may need them for. This will allow you to stay on top of your balances and due dates. You will also be able to choose how you receive these alerts. These options include emails and text alerts, which will let you know when payments are due or paid. 

Technology

This card also offers access to Bank of America’s award-winning Online and Mobile banking. You can bank from anywhere easily and safely and pay your bills online, transfer funds, and much more. You can also use Digital Wallets technology in order to easily purchase items online.

Conclusion

This card works for everyday purchases and pairs nicely with travel rewards credit cards at no annual cost. Earning a solid 1.5% cash back on every purchase without an added confusion of spend categories allows you to get something out of your day-to-day expenses, especially if you are a Bank of America® Preferred Rewards member. Savvy cardholders will reap the benefits of the 15 billing cycles long 0% intro APR on purchases and balance transfers before the regular 14.24% - 24.24% Variable APR (on purchases and balance transfers) begins to apply. 

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Editorial Disclaimer
All content is written by editorial staff or writers engaged by the site, not by marketers/sales staff. Editors responsible for producing the content are not in contact or affiliated with any advertiser and are not compensated based on success of the affiliate links. All decisions regarding recommendations are determined separately from advertising relationships. Any opinions, analyses, reviews or recommendations expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
Approval Odds
BestCreditCard calculates your approval odds by comparing your credit profile to other BestCreditCard members who were approved for this product. These approval odds are estimates only and do not guarantee approval. Credit card issuers use a variety of different types of credit scores and criteria to make credit decisions. The TransUnion credit score we provide is based on the VantageScore 3.0 model and may not be the credit scoring model used by financial institutions presenting offers on our website.