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Card Review: Bank of America® Cash Rewards credit card

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October 22, 2018

For consumers who want to take advantage of credit card rewards without getting bogged down with fees and complex points systems, the Bank of America® Cash Rewards credit card is exactly what you need. You’ll be able to earn cash back on every single one of your purchases—even double and triple rewards on purchases in certain categories—without having to pay an annual fee to get started. Here’s everything you need to know about the Bank of America® Cash Rewards credit card:

Forget the Fees

While most credit cards with rewards require you to pay an annual fee, the Bank of America® Cash Rewards credit card, is one of the few cards that comes with great perks and no yearly fee. The rewards that you earn will last forever, and you won’t have to pay a penny annual in fees in order to maintain the card. While the rewards may not be as lucrative as others that come with annual fees, you’ll have the peace of mind in knowing that you won’t have to make a payment each year for simply owning the card.
Keep Reading: 8 things to look for when choosing a new credit card

Signup Bonus

Besides for getting away without an annual fee, the Bank of America® Cash Rewards credit card also provides you with a cash signup bonus, which means you’ll receive money as soon as you pass the designated spending threshold. The minimum amount you have to spend in order to receive the cash is much lower than with other rewards cards, enabling you to cash in on your bonus without racking up unnecessary charges.

Cash Rewards

Even after cashing in your signup bonus, it’s easy to continue amassing points with your Bank of America® Cash Rewards credit card. In addition to earning 1% cash back on every purchase, you’ll also earn, 2% at grocery stores and now at wholesale clubs, and 3% on gas up to the first $2,500 in combined grocery/wholesale club/gas purchases each quarter. This will allow you to save money on everyday expenses, without forcing you to change your spending habits or put up with the hassles of a more complex credit card.
Keep Reading: How to use your rewards card to pay your bills

Summary: Simple Rewards with No Annual Fees

If you’re looking into a credit card that will let you capitalize on rewards without requiring you to pay an annual fee, then the Bank of America® Cash Rewards credit card is a superb option. Especially if you’re not a big spender, this card will allow you to earn cash back and save money each month without making you pay anything in return. 

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

Apply Now

Card Highlights:

  • No annual fee
  • NEW OFFER: $200 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
  • Earn 1% cash back on every purchase, 2% at grocery stores and wholesale clubs, and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter
  • No changing categories and no expiration on rewards
  • 0% Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days, then, 15.24% – 25.24% Variable APR. 3% fee (min $10) applies to balance transfers
  • Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account
  • If you’re a Preferred Rewards client, you can increase that bonus to 25% – 75%
  • Easily add your Mastercard® credit card to any digital wallet for a simple, secure, and convenient way to pay online, in-app, and in-store

Click Here to Apply for the Bank of America® Cash Rewards credit card >>

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