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Bank of America credit cards for february 2023

Apply for a Bank of America credit card. On 09.02.2023 you have access to 27 credit cards. Increase your chances of getting money — fill out a multi-application with a free credit rating check.

Offers: 27

Updated:
04.02.2023
13:02
Alaska Airlines Visa® Credit Card®
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BEST 0% APR CREDIT CARD FOR PURCHASES
Bank of America® Customized Cash Rewards®
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Rate
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Effective interest rate on the product

18.24 – 28.24 %
Bank of America® Travel Rewards®
Rating by Finanso®
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Rate
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Effective interest rate on the product

18.24 – 28.24 %
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BEST BALANCE TRANSFER CREDIT CARD
BankAmericard®
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Rate
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Effective interest rate on the product

16.24 – 26.24 %
Bank of America® Celebrity Cruises Visa Signature®
Rating by Finanso®
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Rate
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Effective interest rate on the product

18.24 – 28.24 %
Bank of America® Customized Cash Rewards Credit Card for Students®
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

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Bank of America® Unlimited Cash Rewards®
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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650
1000
Rate
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Effective interest rate on the product

18.24 – 28.24 %
Bank of America® Travel Rewards for Students
Rating by Finanso®
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Recommended FinScore™
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1000
Rate
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Effective interest rate on the product

18.24 – 28.24 %
BankAmericard® Secured®
Rating by Finanso®
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650
1000
Bank of America® Customized Cash Rewards Secured®
Rating by Finanso®
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Recommended FinScore™
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1000

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Wells Fargo
4.2
Liam H
Liam H
03.02.2023 at 13:05
The account has a high monthly fee, which quickly eats into my savings and makes it difficult to grow my balance...
Review
Wells Fargo
5
Ethan J
Ethan J
03.02.2023 at 12:55
I recently opened this card and I am extremely satisfied with my experience so far. The account provides a high interest rate, which is a great way to grow my savings...
Review
Arrowhead Advance
2.4
Noah J
Noah J
10.12.2022 at 10:15
I still have a not very pleasant feeling about this company. The company is not licensed, is not a legitimate lender. This suggests fraud. It is important for me that everything is legal and stable...
Review
Arrowhead Advance
2.8
Mason J
Mason J
04.12.2022 at 10:25
Arrowhead Advance gave me cash very quickly and simply.To be honest, I didn't expect it from a lender company. It is very convenient to use your account on the site...
Review
Arrowhead Advance
3.2
Olivia H
Olivia H
01.12.2022 at 06:07
My experience with getting a personal loan from this company was quite pleasant. The service was fast, no one asked about any collateral or my creditworthiness. Such things are always annoying...
Review
Spotloan
4.4
Noah J
Noah J
30.11.2022 at 20:45
Before taking out a loan, I compared Spotloan with other lenders and found out that their rates are the most acceptable. The mobile application works flawlessly. I quickly received approval...
Review
Bank of America credit cards for february 2023

Сredit cards allow you to save money with cash rewards, travel points, miles, and other benefits. These credit cards are designed for personal expenses. You can use them for purchases up to a total limit and then cover your debt before your payment due date. If you manage your Bank of America credit cards well, you can increase the available limit. Bank of America credit cards for personal use are divided into several categories:

Cash rewards credit cards

These Bank of America credit cards allow you to receive cash back on your daily purchases. You can spend up to an available limit and earn cash rewards. Redeem these rewards for statement credit, transfer them as deposits into your bank account, or contribute to an eligible Merrill account.

  1. Bank of America® Customized Cash Rewards®. There is no annual fee on the Customized Cash Rewards card, but a 3% balance transfers fee applies to each transfer. The card earns 3% cash back in the category of your choice. It can be online shopping, gas, travel and dining purchases, drug stores, or home furnishings. For purchases at grocery stores and wholesale clubs, you get 2% cash back. On all other purchases, the cash rewards rate will be 1%. You can get an online cash rewards bonus once you spend at least $1,000 within 90 days of your account opening. The card has an Intro APR offer. It allows you to get 0% APR for 18 billing cycles for purchases and 60 days for balance transfers. Once your Intro APR offer ends, you will be paying a standard variable APR of 17.74%-27.74%. Preferred rewards members get 25% to 75% more cash rewards on each purchase, depending on their tier. On this card, you will be getting 3.75% to 5.25% on the category of your choice, 2.50% to 3.50% for shopping at grocery stores and wholesale clubs, and 1.25% to 1.75% on all other purchases. You can redeem cash rewards for statement credit, direct deposit into your Bank of America checking or savings account, or make credit to a Merrill account. There is an option to set up automatic redemptions into Bank of America and Merrill accounts. Customized Cash Rewards credit card comes in two additional forms: Bank of America® Customized Cash Rewards for Students® and Bank of America® Customized Cash Rewards Secured®. The first allows students to apply for it, and the second requires you to submit a security deposit and build your credit.
  2. Bank of America® Unlimited Cash Rewards®. The card has no annual fee, but you will have to pay a 3% balance transfers fee on each transfer. Unlimited Cash Rewards credit card has a 1.5% cash back earning rate on all purchases. There is no limit applied to the amount you can earn, and the rewards do not expire. You will get an online bonus of $200 once you spend $1,000 within 90 days of your account opening. A new longer Intro period APR offer allows you to get 0% APR for 18 billing cycles applied to purchases and for 60 days for balance transfers. Once the Intro APR offer ends, you will be paying a variable rate from 17.74% to 27.74%. Preferred rewards members will earn 1.87% to 2.62% cash back on each purchase, depending on their tier. Unlimited Cash Rewards credit card has two additional versions: Bank of America® Unlimited Cash Rewards for Students® and Bank of America® Unlimited Cash Rewards Secured®. First allows students to apply for it, and second requires you to submit a security deposit and build your credit.

Travel rewards credit cards

Bank of America credit cards for travel rewards allow you to collect travel points or miles from different airlines and hospitality companies. For each dollar you spend, you get some number of points. They can then be redeemed for a statement credit and used to pay for travel and dining purchases, like hotel stays, flights, vacation rentals, baggage fees, and restaurants.

  1. Bank of America® Travel Rewards®has no annual fee, and there are no foreign transaction fees. You will earn unlimited points. For every dollar spent on any purchase, you get 1.5 points. The points do not expire while your account stays active. A new longer Intro period APR offer allows you to get 0% APR for 18 billing cycles for purchases, and for 60 days for balance transfers. After your Intro APR offer ends, you will pay a variable rate from 17.74% to 27.74%. After you spend $1,000 within 90 days after your account opening, you get 25,000 online-only offer bonus points. You can redeem points for a $250 statement credit and spend it on travel and dining purchases. It may not be available if you visit the Bank of America Financial Center. Bank of America Preferred Rewards member earns 1.87 to 2.62 points on each purchase for dollar spent, depending on the tier. You can use the card to book trips and redeem points for a statement credit to pay for travel and dining purchases, like hotel stays, flights, vacation rentals, baggage fees, and restaurants. The card is also accessible to students. It comes as a separate card: Bank of America Travel Rewards for Students.
  2. Bank of America® Premium Rewards®. Premium Rewards card has a $95 annual fee. There are no foreign transaction fees. You can use the card anywhere and make purchases freely. You earn unlimited 2 points on each dollar spent on travel and dining purchases and 1.5 points for every dollar spent on other purchases. You can redeem points for cash back as a direct deposit into your Bank of America checking or savings account, for credit to the Merrill account, as a statement credit to your credit card, or for gift cards. A 50,000 online-only offer bonus is available for you once you spend $3,000 in purchases within 90 days of your account opening. You can redeem points for $500. The offer may not be available if you visit the Bank of America Financial Center. The card also gives you $100 annually in Airline Incidental Statement Credits for purchases like seat upgrades, airline lounge fees, baggage fees, and in-flight services. You can get an additional $100 every four years in Airport Security Statement Credits towards TSA PreCheck or Global Entry Application fees. Bank of America Preferred Rewards member gets 2.5 to 3.5 points for each dollar spent on travel and dining purchases and 11.87 to 2.62 points for each dollar spent on other purchases. The earning rate depends on the tier you have under the Bank of America Preferred Rewards Program.
  3. Bank of America® Premium Rewards® Elite®. The card has a $550 annual fee. You earn unlimited 2 points for $1 spent on travel and dining purchases and 1.5 points unlimited for $1 spent on other purchases. You can redeem points for travel, cash rewards, a statement credit, gift cards, or distinctive experiences. Once you spend $3,000 in purchases within 90 days of your account opening, you get 50,000 online bonus points. Redeem points for $500. The offer may not be available if you visit the Bank of America Financial Center. Qualifying purchases like baggage fees, seat upgrades, airline lounge fees, and in-flight services give you in Airline Incidental Statement Credits up to $300 annually. Lifestyle conveniences earn up to $150 annually. Every four years, you can receive up to $100 in statement credit for Global Entry or TSA PreCheck application fees. With the Bank of America Preferred Rewards program, you get 2.5 to 3.5 points on travel and dining purchases and 1.87 to 2.62 points on other purchases. The card gives a 20% discount on international and domestic airfare when you pay with points.
  4. Royal Caribbean Visa Signature®. The card has no annual fee and no foreign transaction fees. You earn 2 MyCruise points for a dollar spent on purchases with Royal Caribbean and Celebrity Cruises. On other purchases, you get 1 MyCruise point for one dollar spent. Once you make a qualifying transaction within 90 days of your account opening, you get 10,000 MyCruise bonus points. It is valued as a $100 onboard credit. After you spend $3,500 in purchases within 90 days of your account opening, you get a $50 discount on Royal Caribbean Air2Sea program. You can redeem rewards for cruise upgrades and discounts, onboard credits, and free cruises.
  5. Norwegian Cruise Line® World Mastercard®. The card has no annual fee and no foreign transaction fees. You will earn 3 WorldPoints for every dollar spent on Norwegian purchases, 2 WorldPoints for every dollar spent on air and hotel purchases, and 1 WorldPoint for every dollar spent on other purchases. Redeem your points for stateroom upgrades, travel discounts, onboard credits, hotel stays, and gift cards. The redemption starts at 2,500 points. There is a 20,000 bonus points online-only offer available once you spend $1,000 within 90 days of your account opening. It is $200 you can redeem for your next Norwegian cruise. It may not be available if you visit the Bank of America Financial Center. The Preferred Rewards Program gives its members 25% to 75% more points. It is applied to the base of 1 point per $1 and depends on the tier you have under the Preferred Rewards program.
  6. Celebrity Cruises Visa Signature. The card has no annual fee and no foreign transaction fees. Earning rate is 2 MyCruise points per $1 spent on Celebrity Cruises and Royal Caribbean purchases. You will earn 1 point per $1 spent on other purchases. The points are redeemable for cruise upgrades and discounts, onboard credits, and free cruises. The online-only offer allows you to get an additional 10,000 MyCruise points once you make a qualifying transaction within 90 days of your account opening. It is redeemed for a $100 onboard credit. The offer may not be available if you visit the Bank of America Financial Center. The standard APR is variable and ranges from 17.74% to 27.74% currently.

Airline rewards credit cards

These Bank of America credit cards are designed specifically as co-branded cards earning you benefits for a specific airline company. Bank of America has credit card rewards for Alaska, Spirit, and Allegiant airlines. You earn miles and points, which then can be redeemed for in-flight purchases and other benefits when booking flights.

  1. Alaska Airlines Visa® Credit Card®. There is a $75 annual fee. You will earn unlimited miles for each dollar you spend. For eligible Alaska Airlines purchases, you get 3 miles, and for other purchases, you get 1 mile. Miles do not expire while your account is active. After you spend $2,000 within 90 days after your account opening, you get 50,000 bonus miles and $121 on Alaska's Famous Companion Fare. There is a free checked bag for you and up to 6 guests on one reservation. On Alaska Airlines inflight purchases, you get 20% back.
  2. Free Spirit® Travel More World Elite Mastercard®. The card has a $0 Intro annual fee, and after a year, your annual fee will be $79. You can earn three points per dollar spent on Spirit purchases, two points per each dollar spent on dining purchases and grocery stores, and one point per each dollar spent on other purchases. Once you spend $1,000 within 90 days after your account opening, you get an online-only offer of 60,000 bonus points plus a $100 Companion Flight Voucher. The Voucher is also available annually once you spend $5,000 in purchases the prior year. When paying with the card, you get Zone 2 shortcut boarding on all flights and a 25% rebate on in-flight food and beverage.
  3. Allegiant World Mastercard®. The annual fee is $59. The standard APR is variable and ranges from 19.94% to 27.74%. The card earns 3 points per $1 spent on Allegiant purchases, like hotel, air, car rental, and attractions. On dining purchases, you will get 2 points per dollar spent, and on other purchases, you will earn 1 point per $1. The online-only offer allows you to get 15,000 bonus points once you spend $1,000 within 90 days of your account opening. It equals $150 off future purchases on Allegiant trips. There is a priority boarding and a free beverage every time you fly Allegiant and present your credit card.

Lower interest rates credit cards

These Bank of America credit cards have lower interest rates. They may be good if you are looking for an affordable offer and do not want to overpay. The cards do not have annual fees, and there is no foreign transaction fee. You can try using them, and if you find Bank of America suitable for you, you can then switch to another card.

  1. BankAmericard®. There is no annual fee on the card. You can save on interest and pay your balance off faster. Balance transfers have a 3% fee. The new longer Intro period APR offer allows you to get a 0% rate for 21 billing cycles for purchases and for 60 days for balance transfers. Once the Intro APR offer ends, you pay a variable rate ranging from 15.74% to 25.74%. If you pay the interest late, you do not have to pay the penalty. There is a feature allowing you to track your FICO score updates and keep your credit healthy
  2. Royal Caribbean Visa Signature®. The card has no annual fee and no foreign transaction fees. You earn 2 MyCruise points for a dollar spent on purchases with Royal Caribbean and Celebrity Cruises. On other purchases, you get 1 MyCruise point for one dollar spent. Once you make a qualifying transaction within 90 days of your account opening, you get 10,000 MyCruise bonus points. It is valued as a $100 onboard credit. After you spend $3,500 in purchases within 90 days of your account opening, you get a $50 discount on the Royal Caribbean Air2Sea program. You can redeem rewards for cruise upgrades and discounts, onboard credits, and free cruises.
  3. Norwegian Cruise Line® World Mastercard®. The card has no annual fee and no foreign transaction fees. You will earn 3 WorldPoints for every dollar spent on Norwegian purchases, 2 WorldPoints for every dollar spent on air and hotel purchases, and 1 WorldPoint for every dollar spent on other purchases. Redeem your points for stateroom upgrades, travel discounts, onboard credits, hotel stays, and gift cards. The redemption starts at 2,500 points. There is a 20,000 bonus points online-only offer available once you spend $1,000 within 90 days of your account opening. It is $200 you can redeem for your next Norwegian cruise. It may not be available if you visit the Bank of America Financial Center. The Preferred Rewards Program gives its members 25% to 75% more points. It is applied to the base of 1 point per $1 and depends on the tier you have under the Preferred Rewards program.

Credit cards for building credit

If you have fair credit that does not allow you to get the best offers or your credit score has suffered recency, Bank of America credit cards for building credit history may be a good option. Your score does not play a big role when you apply, as you must submit a security deposit to eliminate the risks for Bank of America. Once your credit score improves, Bank of America may offer you to switch to an unsecured credit card.

  1. Bank of America® Customized Cash Rewards Secured®. There is no annual fee. You get a standard APR of 27.74% variable, which is the highest limit Bank of America has on its credit cards. The secured credit card allows you to earn cash back rewards and build your credit. You get 3% cash back rewards in your choice category, like gas stations, 2% cash back for grocery stores and wholesale clubs, and 1% unlimited cash rewards for all other purchases. For the first $2,500 in combined purchases for your choice category, you earn 3% and 2% cash back, and after exceeding the sum, you get 1%. You can change your choice category every month using your Bank of America account via Online Banking or Mobile Banking app. A minimum security deposit is $200, while the maximum is $5,000. Your maximum credit line limit will be determined by the security deposit amount, your income, and ability to pay the credit line established. You can redeem cash rewards for statement credit, deposits into Bank of America accounts, or credit to an eligible Merrill account. Make a contribution to a qualifying 529 account with Merrill or a check start at $25 or set up automatic redemptions into eligible Bank of America and Merrill accounts.
  2. Bank of America® Unlimited Cash Rewards Secured®. There is no annual fee. The annual percentage rate is 27.74% variable. Balance transfers come with a 3% fee. You earn cash rewards on this secured credit card. The base earning rate is 1.5% on all purchases. There is no limit on the cash back amount, and your cash rewards do not expire. You are required to contribute a minimum security deposit of $200. You can submit a maximum of $5,000. It will determine your available credit line limit. You can redeem your cash rewards on deposits into your Bank of America checking account or savings account, credit into your eligible accounts with Merrill, and statement credit to your credit card. There is a penalty fee in your minimum payments due not received. Late payment fee will be $29, and $40 on subsequent defaults occurred within 6 billing cycles. If your balance on the payment date is $100 or less, Bank of America will not asses the late payment fee. The penalty APR will not exceed 29.99% on new transactions.
  3. BankAmericard® Secured®. BankAmericard secured card has no annual fee and no rewards. The standard APR you get on this secured credit card is 25.74% variable. The balance transfers have a fee of 3% on each transaction. BankAmericard Secured credit card is designed to rebuild credit or establish it. You submit a security deposit from $200 to $5,000. It will determine how much of a credit line will be available to you. Through Mobile or Online Banking, you will be able to access your FICO score updated monthly, and track the changes. You will be receiving your score, key factors affecting it, and credit education on how to keep your credit healthy.

Credit cards for students

It may be difficult for students to find a credit card they can qualify for. Students Bank of America credit cards are designed for different purposes. You can get a customized card and receive cash rewards, BankAmericard credit card does not have any benefits, but it can help you improve your credit, and the travel rewards credit card will earn you points for travel expenses.

  1. Bank of America® Customized Cash Rewards for Students®. This cash rewards credit card has no annual fee. There is a 3% balance transfer fee applicable to each transfer. The card earns 3% cash back in the category of your preference. You will get 2% cash back on grocery stores shopping and wholesale clubs spending and 1% cash back on other purchases. There is a $200 cash rewards bonus after you spend at least $1,000 in the first 90 days. You can redeem the credit card rewards for direct deposits into your Bank of America checking account or savings account, for credit to an eligible bank and Merrill account, for a contribution to a qualifying 529 Merrill account, or set up automatic redemptions into eligible accounts. Customized Cash Rewards for Students from Bank of America come with an introductory APR of 0% for the first 18 billing cycles for purchases and for 60 days for balance transfers. After the Intro APR expires, your interest rate will be from 17.74% to 27.74% APR.
  2. Bank of America® Unlimited Cash Rewards for Students®. There is no annual fee. This student cash rewards credit card has an unlimited 1.5% cash back rate on all purchases with no expirations. You can redeem the cash rewards for cash back on deposit directly into your Bank of America checking or savings account, credit into Merrill accounts, or a statement credit to your credit card. Once you spend $1,000 within 90 days after your account opening, you get a $200 online cash rewards bonus. The card has a 0% Intro APR for the first 18 billing cycles for purchases and 60 days for balance transfers. After your Intro APR offer ends, the standard rate from 17.74% to 27.74% will apply to your purchases. For cash advances, you will get APR from 20.74% to 30.74%.
  3. BankAmericard® for Students®. There is no annual fee. A fee of 3% is applicable to all balance transfers. You can add the card to your Apple Pay or Samsung pay and use contactless payments. The card allows you to get an Intro APR of 0%. It lasts for 21 billing cycles for purchases and 60 days for balance transfers. After your Intro APR offer ends, you will be paying variable APR ranging from 15.74% to 25.74%.
  4. Bank of America® Travel Rewards for Students®. The card has no annual fee, and it does not require paying foreign transaction fees. This card earns unlimited 1.5 points for each $1 spent on any purchase. The points do not expire. Use the points to book trips on any website. You can redeem the points to pay for flights, vacations, hotels, cruises, packages, rental cars, baggage fees, and restaurants. There is a 25,000 online bonus points offer after you spend $1,000 in the first 90 days after your account opening. It is redeemable for a $250 statement credit toward dining purchases and travel. You get a 0% APR for 18 billing cycles for purchases and 60 days after your account opening for balance transfers. After your Intro APR offer ends, you get a variable APR from 17.74% to 27.74%.

Pros and cons

Pros

  • There are many cards you can choose from. Depending on your financial situation and purpose for applying for a card, you can choose a secured credit card, cash rewards credit card, travel rewards cards, and more.
  • Bank of America issues contactless cards. You can tap to pay in the location with a contactless symbol.
  • Digital wallet technology allows you to link your Bank of America credit cards to mobile services like Apple Pay, Google Pay, and Samsung Pay.
  • Receive account alerts via email, texts, or Mobile Banking to track your payment dates.
  • Access your FICO score monthly updates for free via Online Banking or Mobile Banking App.

Cons

  • Some cards have an annual fee. The better rewards the card earns, the higher will be the annual fee.
  • APR is variable, meaning it can rapidly increase with the Prime Rate if the economic situation is unstable. The bank may automatically raise your rate.

Small business credit cards

Bank of America credit cards for small businesses provide small business owners with a revolving line of credit. There is a limit set for spending, and as you use the card, it earns you benefits. You will have to cover the balance and accrued interest before the payment due date on your card. If you manage the card well, you can increase the available limit. The categories Bank of America credit cards are designed for are the following:

  • Cash rewards credit cards
  • Travel rewards cards
  • Cards for building or strengthening credit
  • Lower interest cards.

Small business credit cards pros and cons

  • Many of the cards do not have an annual fee or foreign transaction fee. They still earn you rewards, but you save on paying the fees.
  • It is possible to open the same cards for employees. Such cards come with no additional fees.
  • You get Zero liability protection. It secures your account from unauthorized transactions.
  • There is a Balance Connect for overdraft protection. Bank of America will prevent declined purchases when you link your credit card to your business checking account.
  • You get Online Banking and Mobile Banking app access to manage your credit cards. You can check your balance and keep tabs on your employees.

Cons

  • Some cards do not earn you anything at all. You can just use them to build your credit or make purchases when you do not have enough cash.
  • The annual percentage rates are high and variable. They will increase with time as the Prime Rate in the country goes up. If the rate goes up, the bank will automatically raise your APR.

Cash rewards credit cards

These credit cards come with cash rewards. You earn some percentage of cash back on purchases you make. The rewards can be redeemed for a deposit into your Bank of America business checking account or business savings account, as a check, or as a card statement credit.

  1. Business Advantage Customized Cash Rewards credit card. The card has no annual fee. Intro APR offer is available for 9 billing cycles. After the Intro APR offer ends, you get a variable rate from 15.99% to 25.99% on purchases and 27.99% APR on cash advances. Earn cash rewards of 3% in the category of your choice. Dining purchases earn you 2% cash rewards, and all other purchases allow you to get 1% cash rewards. On the first $50,000 in the combined choice category each year, you earn 3% and 2% cash back, and after exceeding the sum, the rate will be 1%. You can change the choice category for future purchases via the Mobile Banking app or using Business Advantage 360 for small business Online Banking. The changes can be made once a month. If you have a business checking account with Bank of America and can qualify for the Preferred Rewards Program got a Business credit card, you may earn 75% more cash rewards. On this business credit card, rewards will be 5.25% on the choice category, 3.5% on dining purchases, and 1.75% on other purchases. The points are redeemable as a deposit into your Bank of America business checking account or business savings account, as a check, or as a card statement credit.
  2. Business Advantage Unlimited Cash Rewards credit card. The card earns unlimited cash rewards of 1.5% on all purchases. There is no annual limit, and the cash rewards do not expire. With the Preferred Rewards program, you get 75% more cash rewards. If you have a business checking account with Bank of America and become a Preferred Rewards member, the earning rate on this business credit card will increase to 2.62%. You get a statement credit after spending $3,000 in purchases within 90 days of the account opening. This online-only offer may not be available if you visit the Bank of America Financial Center. You can choose how you want to redeem rewards. You may opt for a deposit into your business checking or savings account, a card statement credit, or receive a mailed check. The Introductory APR allows you to save both on purchases and balance transfers. You get 0% APR for 9 billing cycles. After your Intro APR offer ends, the rate will be variable and range from 15.99% to 25.99%.
  3. Business Advantage Unlimited Cash Rewards Mastercard Secured credit card. The card has no annual fee. The standard APR is variable and is currently 25.99%. There is a fee of 4% on balance transfers. You can earn cash rewards of 1.5% unlimited on all purchases. There is no annual limit, and cash rewards do not expire. You can choose how you want to redeem the rewards. It can be a deposit into your Bank of America business bank account, a card statement credit, or a mailed check. As this card is a secured credit card, you need to submit a security deposit of a minimum of $1,000. The credit line available to you for spending will be equal to this deposit. Bank of America will review your account consistently, and if your credit history improves, you can get an unsecured credit card. The security deposit will be returned to you.

Travel rewards credit cards

Bank of America credit cards earning travel rewards allow you to get travel points or miles from different airlines and hospitality companies. For each dollar you spend, you get some number of points. Redeem them for a statements credit and use these points on travel or dining purchases and cash back or gift cards. You can also travel without blackout dates at the Bank of America Travel Center.

  1. Business Advantage Travel Rewards credit card. There is no annual fee, and the card has no foreign transaction fee. You get a 0% APR for 9 billing cycles. Once your Intro APR offer ends, you will pay a variable rate currently ranging from 15.99% to 25.99%. Cash Advance APR will be a 27.99% variable on all cash advances and convenience checks. You can earn 1.5 points for each dollar you spend on all purchases. They are unlimited and do not expire. The online-only offer allows you to get 30,000 bonus points once you spend $3,000 within 90 days of your account opening. It can be redeemed for a $300 statement credit and used for travel or dining purchases. The Preferred Rewards program allows you to earn up to 75% more points. If you have a business checking account with Bank of America, you can become a Preferred Rewards member. Your earning rate will be up to 2.62 points per dollar spent. The points can be redeemed for statements credit and used on travel or dining purchases, travel with no blackout dates at the Travel Center, and cash back or gift cards.
  2. Alaska Airlines Business credit card. The standard APR is currently from 19.74% to 27.74% variable. It is applicable to all purchases and balance transfers. Cash advance currently is a 27.99% variable and applies to all cash advances and convenience checks. The annual fee is $50 per company and $25 per card. The card earns unlimited 3 miles for $1 spent on Alaska Airlines purchases and an unlimited 1 mile for $1 spent on other purchases. Your miles do not expire. With OneWorld Alliance member airlines and Global Partners, you earn miles to over 1,000 destinations worldwide. Spend $2,000 within 90 days of opening your account and get 40,000 bonus miles plus Alaska's Famous Companion Fare of $121. Get another Alaska's Famous Companion Fare annually. There is also a free checked bag for you and up to 6 guests on one reservation. When making Alaska Airlines in-flight purchases with your card, you get 20% cash back.

Lower interest cards

This Bank of America credit card has lower interest rates. It may be good if you are looking for an affordable offer. The card does not issue an annual fee. You can try using it, and if you find Bank of America suitable for you, you may switch to another card.

  1. Platinum Plus Mastercard Business card. The card has no annual fee. Intro APR offer of 0% is available for 7 billing cycles. The standard APR currently ranges from 13.99% to 24.99% variable. It applies to all purchases and balance transfers. Cash advance APR is a 27.99% variable and is applied to all cash advances and convenience checks. You can get a $300 statement credit once you spend at least $3,000 within 90 days of your account opening. The card allows you to schedule electronic payments with an automatic bill payment.

Credit cards for building credit

If you have a credit that does not allow you to get better offers, Bank of America credit cards for building credit history may be a good option. Your score does not play a big role when you apply. You must submit a security deposit which will determine your available credit line. Once your credit score improves, Bank of America may offer you to switch to an unsecured credit card.

  1. Business Advantage Unlimited Cash. There is no annual fee. The standard APR is 25.99% variable. Balance transfers have a 4% fee on each transaction. You earn unlimited 1.5% cash back on all purchases. The card has no annual limit, and your cash rewards do not expire. To open your account, you must submit a security deposit of $1,000 minimum. Once approved, your available credit line will equal your deposit. Bank of America will review your account, and if your credit history improves, you could get an unsecured card. Choose how you want to redeem your cash rewards. It can be a deposit into your Bank of America checking or savings account, a card statement credit, or a mailed check.

Bank of America Preferred rewards program

Preferred Rewards for personal credit cards

Bank of America Preferred Rewards is a program rewarding customers of the bank with higher benefits. To become Bank of America preferred rewards members, customers must have checking accounts with the Bank of America and enroll in the program. There are four tiers of the Bank of America's Preferred Rewards program:

  1. The Gold tier is available for 3 months average daily balance of $20,000 to $50,000. On credit cards, you get a 25% rewards bonus and a 0.05% of annual fee discount for Merrill investment accounts.
  2. The Platinum tier starts from $50,000 and goes up to $100,000 for 3 months' average daily balance. It gives 50% credit card rewards and a 0.10% annual fee discount on Merrill investing.
  3. The Platinum Honors tier is for customers with $100,000-$1M of a 3-month average daily balance. The tier allows you to get 75% credit card rewards on credit cards and a 0.15% annual fee discount on Merrill investing.
  4. Diamond tier goes with $1M-$10M of 3 months average daily balance. You get a 75% credit card rewards bonus and a 0.15% annual fee discount on Merrill investing.

There is no fee for enrollment in the Preferred Rewards membership. To become a member, you need the following:

  • To have a Bank of America checking account. It must be active.
  • Have at least a $20K three-months average combined balance. It includes balances in your deposit and Merrill investment account.

Preferred Rewards for business credit cards

You can earn and gain benefits with a free-to-join offer. There are three tiers for business accounts:

  • The Gold tier starts at $20,000 combined average daily balance for three months and goes up to $50,000. You get 25% more bonus rewards on your business credit cards.
  • The Platinum tier requires you to have a $50,000 to $100,000 combined average daily balance for three months. It allows you to get 50% more bonus rewards on credit cards.
  • The Platinum Honors tier starts from a $100,000 combined average daily balance for three months. It has a 75% bonus rewards rate on your credit cards.

To become a Preferred Rewards member, you have to:

  • Obtain an active Bank of America business checking account
  • Have a three months combined average daily balance of at least $20K on your account.

How to apply for a card?

Main requirements

Bank of America has several requirements for its applicants wishing to receive a credit card. If you apply for a personal credit card, you must:

  • Achieve at least 18 years of age or at least 21 years of age if you are a resident of Puerto Rico;
  • Have an address in one of the 50 States, Washington D.C., APO/FPO/DPO, Guam, Puerto Rico, Northern Mariana Islands, American Samoa, or US Virgin Islands;
  • Authorize Bank of America to obtain your credit report, employment history, and other information to approve or decline your application;
  • Have a credit score of at least 750 if you want to receive a non-secured card on good terms.

Business owners have these requirements to meet:

  • You must be at least 18 years;
  • Be an Owner or Authorized Officer of the business;
  • Authorize Bank of America to pull your credit;
  • The bank will ask for the legal name, address, tax identification number, and other identifying information;
  • Bank of America may ask for copies of business licenses;
  • Nonprofit organizations provide a copy of the organization's last two years of financial statements.

Application procedure

The application process can be completed using online banking. You will receive a response within 30 seconds. To apply and qualify for a card, you need to:

  1. Go to the "Credit cards" section and select the card that suits you;
  2. Click on the "Apply now" button;
  3. Fill in personal information, such as name, phone number, residential address, and information about your citizenship;
  4. After completing these steps, the application will be created, and you will need to wait for a response.

You can apply in person at the bank's branch. Make an appointment and bring all the documents with you. The bank will review your application and contact you once it makes the decision. If it is positive, you can sign the contract and receive your card. The delivery may take 5 to 7 days.

How to pay off a debt

Payment by credit card can be made using these methods:

  • Online banking. Disburse your debt using a website. You can make a money transfer from your checking or savings account.
  • ATM. Make a payment at 16,000 ATMs across the country.
  • Make payment by phone. Call a special number and make a payment.
  • Drop off payment. Make a payment at any financial center of the bank.
  • Mail payment. Send a payment receipt by mail.

Bank of America has tools for you to manage your credit card accounts through online banking and mobile app. To make a payment using the website:

  1. Log into your Online Banking account;
  2. Choose the Bill Pay tab;
  3. Select Manage Pay To/Pay From Accounts link if you are paying using an account with another bank. Then choose Add Pay From Account and fill in the routing number.
  4. Select Transfer | Send and then Between My Accounts At Bank of America if you transfer money from your Bank of America account.

If you have a mobile app installed, you can use it to make payments toward your credit card debt.

  1. Log into your Mobile Banking app;
  2. Choose your credit card account;
  3. Tap on the "Make a payment" button.

If your minimum payment is not received by the due date, Bank of America will impose a late fee. Late fees are $29 and $40 for subsequent failures that occurred within six billing cycles. 

FAQ

What is the Bank of America's highest credit limit?

Bank's highest credit limit is $95,000 to $100,000, depending on the credit card.

What kind of credit card is a Bank of America card?

Personal credit cards can be Visa and Mastercard. Business cards are Mastercard only. You can compare the benefits and fees and determine which one may suit your needs.

Does Bank of America issue Visa credit cards?

Yes, but only for personal credit cards. You can get Bank of America Customized Cash Rewards, Bank of America Unlimited Cash Rewards, Bank of America Travel Rewards, Bank of America Premium Rewards, and more. These are all Visa cards.

 

Can I get a Bank of America credit card with a 650 credit score?

The minimum credit score for a credit card is 750. However, the bank has secured credit cards you qualify for with lower credit scores. They allow you to build your credit and switch to an unsecured card over time.

Are Bank of America's credit cards hard to get?

To get a credit card from Bank of America, you need to satisfy the credit score requirement, have a steady income, be at least 18 years old resident of the US, and authorize the bank to pull your credit. The bank may ask for more details, but it has a lot of cards you can qualify for. You can try applying.