Top 6 Bank Of America Cash Back Credit Cards

The Bank of America®’s Cash Rewards Credit Card offers a 3% cashback in a category of your choice to help you maximize rewards for your daily spending.

The Bank of America® Cash Rewards credit card offers bonus rewards up to a quarterly maximum of $ 2,500 on combined purchases in two different expense categories: 3% cashback on purchases you make in a category you choose from a shortlist and 2% cashback at grocery stores and wholesale clubs (then 1% after exceeding the $ 2,500 quarterly limit). You’ll get just 1% cashback on all other purchases.

You get six options for the category of your choice.

  • Trip
  • Meal
  • Gas
  • Online shopping
  • Pharmacy
  • Furniture and home improvement

You can easily update your bonus category selection with your online banking account or the mobile banking app once per calendar month, in case your spending habits change or you have a big purchase next. If you don’t sign in to change the category, it will remain the same until you do.

The Bank of America®’s Cash Rewards credit card also offers a $ 200 online cash rewards bonus after spending $ 1,000 on purchases within the first 90 days of account opening.

And the annual fee for the Bank of America® Cash Rewards credit card is $ 0.

Fees and additional fees

  • No annual fee
  • $ 200 online cash rewards bonus after you make at least $ 1,000 in purchases in the first 90 days of account opening
  • Earn 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
  • 0% Introductory APR for 12 billing cycles for purchases. After the intro APR offer ends, 13.99% – 23.99% Variable APR will apply.
  • No expiration on rewards
  • If you’re a Preferred Rewards member, you can earn 25% – 75% more cashback on every purchase.
  • Contactless Cards – The security of a chip card, with the convenience of a tap

* See online provider’s credit card application for details on terms and conditions. For precise information, important efforts are made. However, all credit card information is presented without guarantee. By clicking the “Apply Now” button, you can review the credit card terms and conditions on the provider’s website.

Best for Cash Back Signup Bonus: Bank of America® Premium Rewards® Visa® Credit Card

Here’s why: The Bank of America® Visa® Premium Rewards® credit card offers 50,000 bonus points after spending $ 3,000 on purchases within the first 90 days of account opening. You can redeem those bonus points for cash rewards worth $ 500.

You’ll also earn two points for every $ 1 you spend on travel and dinner purchases and 1.5 points for $ 1 on all other purchases.

And the Bank of America® Visa® Premium Rewards® credit card also includes up to $ 200 in travel statement credits: $ 100 annually for unforeseen airline expenses and another $ 100 every four years for an application fee. TSA PreCheck or Global Entry.

But all these extra rewards will cost you: The Bank of America® Visa® Premium Rewards® credit card charges an annual fee of $ 95.

Take a look at our Bank of America® Visa® Premium Rewards® credit card review to help you decide if it’s worth it for you.

Best for Students: Bank of America® Cash Rewards Credit Card for Students

Here’s why: If you’re a student new to credit, the Bank of America® Cash Rewards credit card for students could help you earn cash while working on building your credit.

The Bank of America®’s Cash Rewards credit card for students offers cashback of up to $ 2,500 on combined purchases in two categories of your choice each quarter: 2% back on purchases made at grocery stores and wholesale clubs and 3% off refund on purchases in a category of your choice.

  • Meal
  • Gas
  • Trip
  • Online shopping
  • Pharmacy
  • Furniture and home improvement

And for all other purchases, the Bank of America® Cash Rewards credit card for students offers 1% cashback.

The Bank of America®’s Cash Rewards credit card for students also offers a $ 200 cash rewards bonus after spending $ 1,000 on purchases during the first 90 days after account opening.

We find it particularly useful for students that this card comes with an annual fee of $ 0.

If you’re looking to build credit while you’re still in school, you can compare student credit card offers at Credit Karma.

Best for charitable giving: Bank of America Susan G. Komen® Cash Rewards Visa® Credit Card or World Wildlife Fund Credit Card

Here’s why: Bank of America offers two credit cards that donate to charities every time you swipe: the Susan G. Komen® Cash Rewards Visa® credit card from Bank of America and the World Wildlife Fund credit card.

The two cards are similar in that Bank of America will donate to charities when you use the card. Bank of America donates to Komen when you have the Susan G. Komen® Cash Rewards Visa® credit card from Bank of America, and will donate to the World Wildlife Fund if you have the World Wildlife Fund credit card.

If you apply for the World Wildlife Fund credit card and it is approved, Bank of America will donate $ 3 to the World Wildlife Fund, and an additional $ 3 for each year the card is renewed, plus 0.08% of retail purchases you make (not counting returns).

If you apply for and are approved for the Bank of America Susan G. Komen® Cash Rewards Visa® credit card, the issuer will donate $ 3 to Komen if you purchase within 90 days of account opening and to maintain the open card. for those 90 days. The bank will also donate 0.08% of every purchase you make and an additional $ 3 each year you renew the card without having a zero balance at the time of renewal.

Both cards also offer a $ 200 cash rewards bonus after spending $ 1,000 on purchases during the first 90 days after your account is opened.

And with Bank of America’s Susan G. Komen® Cash Rewards Visa® Credit Card and World Wildlife Fund Credit Card, you’ll take home bonus cash rewards of up to $ 2,500 each quarter for your combined purchases in two categories. different: 3% cashback in a category of your choice and 2% cashback in wholesale clubs and grocery stores. You will receive a 1% cashback on all other purchases.

For the category you choose, you can choose one of the following each quarter:

  • Gas
  • Meal
  • Online shopping
  • Pharmacy
  • Trip
  • Furniture and home improvement

And one final bonus you’ll be happy to know: The annual fee for either card is $ 0.

Best for Small Business Owners: Bank of America® Business Advantage Cash Rewards Mastercard® Credit Card

Here’s why: Small business owners could earn even more cash with the Bank of America® Business Advantage Cash Rewards Mastercard® Credit Card.

The Bank of America® Mastercard® Business Advantage Cash Rewards credit card offers a $ 300 statement credit after spending $ 3,000 on purchases within the first 90 days of account opening.

You’ll also receive additional cash back for your first $ 50,000 of combined purchases in two different categories each calendar year: 3% cashback on a category of your choice and 2% cashback on meals. You’ll get 1% cashback on all other purchases.

The 3% cash back category is the default for gas stations, but you can also choose from the following:

  • Office supply stores
  • Trip
  • TV/telecommunications and wireless services
  • Computer Services
  • Business consulting services

We also like that the Bank of America Mastercard® Business Advantage Cash Rewards credit card has a $ 0 annual fee.

Check out our guide to using a small business credit card if you’re unsure whether this type of card is right for you.

How We Pick the Best Bank of America Cash Back Credit Cards

We limit our analysis to the cards of this specific card issuer. Bank of America offers cards that come with a variety of benefits and features, from travel rewards to balance transfers. But we only consider cards where you can get cash back or redeem your points for cashback.

From there, we consider which cash rewards cards are best for different types of people to determine our categories.

How to Get the Most Out of Your Bank of America Cash Back Credit Card

Here are four tips to help you get the most out of your Bank of America cash-back credit card.

Earn the sign-up bonus

A sign-up bonus can be a huge cashback boost. But you must choose a card with a sign-up voucher that has a spending requirement that fits your budget. Otherwise, you could end up accumulating debt.

Plan big purchases

If time works, a large planned purchase could be one way to get closer to earning a new card sign-up bonus. This could also be a good time to take advantage of introductory APRs for purchases to lower the amount you pay in interest. Learn more about introductory APR offers with Credit Karma’s guide to 0% APR on credit cards.

Upgrade the 3% bonus category

Some Bank of America cashback credit cards give you the option to choose your 3% bonus category, with the option to change that 3% category at certain intervals (every month or every three months, for example).

That means you can plan to increase your rewards by choosing the travel category before booking a big trip ahead. Or if you have a road trip planned, you may want to pick up gas.

If you don’t remember to change your category, you won’t miss it entirely; if you do nothing, it will stay the same. That means if you’re more of the set-it-and-forget type of person, these cards may be good options for you.

Preferred rewards

Bank of America offers a special program that can increase your rewards with certain credit cards if you have an eligible Bank of America personal checking account and maintain an average of $ 20,000 or more in eligible Bank of America bank accounts or Merrill investment accounts during three months.

If you are in this group, contact Bank of America to inquire about the Preferred Rewards program and see if the card you are interested in qualifies.

 

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