Offering unlimited 1.5% cash back on all purchases and no annual fee!
Earn rewards while you spend with the Bank of America® Unlimited Cash Rewards Card
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Finding the perfect credit card can be challenging, but the Bank of America® Unlimited Cash Rewards card is an excellent choice. With this card, you can earn 1.5% cash back on all purchases without the hassle of rotating categories or sign-ups.
If you're seeking a credit card that offers cash back on everyday purchases along with a straightforward rewards system and flexible redemption options, the Bank of America® Unlimited Cash Rewards card is an excellent choice. Take a look at its outstanding benefits below:
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Absolutely! The Bank of America® Unlimited Cash Rewards Credit Card provides a great opportunity to build credit. Cardholders’ activity is reported to all three major credit bureaus – Equifax, TransUnion, and Experian, helping to establish a positive credit history. Additionally, customers can take advantage of free FICO scores, allowing them to regularly monitor their credit scores and track their progress.
The Bank of America® Unlimited Cash Rewards Credit Card provides cardholders with a range of exclusive benefits. These include a $0 liability guarantee for unauthorized transactions, contactless chip technology for convenient and secure payments, compatibility with digital wallets for easy mobile payments, access to online and mobile banking for convenient account management, customizable account alerts for staying informed, and complimentary FICO score monitoring services to help you keep track of your credit health.
The Bank of America® Unlimited Cash Rewards Credit Card offers multiple options for redeeming your cash back rewards. You can choose to redeem your earnings at any time for a credit to your card statement, a deposit to a Bank of America checking or savings account, or a credit to an eligible Merrill account. Additionally, Bank of America provides the convenient option of setting up monthly automatic redemption, allowing your cash rewards to be credited to your statement or deposited into your account on a regular basis.
Pros and Cons of the Bank of America® Unlimited Cash Rewards Credit Card
When it comes to cash back credit cards, the Bank of America® Unlimited Cash Rewards Credit Card is a solid option, offering a simple, straightforward rewards structure with no annual fee. However, like any financial product, it has both advantages and drawbacks. Here’s a closer look at the pros and cons of this credit card to help you decide if it’s the right fit for you.
Pros
- Unlimited 1.5% Cash Back on Every Purchase
- Unlike some cash back cards that require you to track rotating categories or spending caps, this card offers a flat 1.5% cash back on all purchases, making it a great option for everyday use.
- No Annual Fee
- A major benefit of this card is that it has no annual fee, meaning you can earn cash back without worrying about offsetting costs.
- Generous Welcome Bonus
- New cardholders can earn a $200 online cash rewards bonus after spending $1,000 in purchases within the first 90 days, providing an extra incentive to sign up.
- Preferred Rewards Program Boost
- If you’re a Bank of America Preferred Rewards member, you can earn 25% to 75% more cash back, effectively increasing your rewards rate up to 2.62% per dollar spent.
- 0% Intro APR on Purchases and Balance Transfers
- The card offers a 0% introductory APR for the first 15 billing cycles on purchases and balance transfers (transfers must be made within the first 60 days). This is great for those looking to finance a large purchase or consolidate debt.
- No Expiration on Rewards
- Your earned cash back never expires as long as your account is open and in good standing.
- Access to Free FICO Score
- Bank of America provides free access to your FICO score, helping you keep track of your credit health.
Cons
- Foreign Transaction Fee
- This card charges a 3% foreign transaction fee, making it less ideal for international travelers.
- Limited Additional Perks
- Unlike premium rewards cards, the Bank of America Unlimited Cash Rewards Credit Card doesn’t offer travel benefits, extended warranties, or purchase protections.
- No Bonus Categories
- Some competitors offer higher cash back rates in specific spending categories (such as dining, groceries, or gas), whereas this card sticks to a flat 1.5% rate.
- Requires Good to Excellent Credit
- Applicants generally need a credit score of 690 or higher to qualify, making it less accessible for those with fair or limited credit history.
Who Should Get This Credit Card?
The Bank of America Unlimited Cash Rewards Credit Card is an excellent choice for individuals who want a simple, no-fuss cash back card. It’s especially beneficial for Bank of America customers who can take advantage of the Preferred Rewards program, boosting their cash back rate. If you’re looking for a card with no annual fee, a solid welcome bonus, and a hassle-free earning structure, this could be the perfect fit.
However, if you frequently travel internationally or prefer a card with premium benefits like airport lounge access, travel credits, or higher category-based rewards, you might want to consider an alternative.
If this credit card caught your attention, you can accept the recommendation to read our full review and see how to apply today for your Bank of America Unlimited Cash Rewards Credit Card.
BofA Unlimited Cash Rewards credit card review!
Maximize your rewards with the Bank of America Unlimited Cash Rewards Credit Card. Read our full review to see if it's the right fit for you.
An Alternative: The American Express Platinum Card
If you’re looking for a premium credit card that offers top-tier rewards, luxury perks, and extensive travel benefits, the American Express Platinum Card is a great alternative. While it comes with a higher annual fee, it compensates with exclusive perks, including:
- Up to $200 in airline fee credits annually
- $200 hotel credit for Fine Hotels & Resorts
- Access to over 1,400 airport lounges worldwide
- 5X Membership Rewards points on flights booked directly with airlines
- Elite status with Marriott Bonvoy and Hilton Honors
- $189 CLEAR Plus credit for expedited airport security
For frequent travelers or those who want premium rewards and lifestyle benefits, the AMEX Platinum Card is worth considering. Want to learn more? Check out our full review of the AMEX Platinum Card!
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