Bank of America Credit Cards: Find the Best One for Your Needs
Hello Friends, welcome to our article about Bank of America credit cards. Bank of America, also known as BofA, is a well-known American multinational investment bank and financial services company. One of the services it offers is credit cards. We will discuss the different types of BofA credit cards and help you find the best one for your needs.
Types of Bank of America Credit Cards
Bank of America has a variety of credit cards to choose from, and they cater to different types of customers. We will discuss the six types:
- Rewards cards
- Travel cards
- Cashback cards
- 0% introductory APR cards
- Secured cards
- Student cards
Rewards Cards
Bank of America rewards cards are popular among customers who want to earn rewards for their everyday spending. The rewards programs vary depending on the card you choose. Let’s take a look at four popular rewards cards:
The Bank of America Premium Rewards Card
The Bank of America Premium Rewards Card is one of the top rewards credit cards offered by BofA. This card comes with a signup bonus of 50,000 bonus points after you make at least $3,000 in purchases in the first 90 days of account opening. These points are worth $500 in travel rewards. This card has an annual fee of $95.
- Earn 2 points per $1 spent on travel and dining purchases
- Earn 1.5 points per $1 spent on all other purchases
- You can redeem your points for travel, cashback statement credits, gift cards, and more
The Bank of America Travel Rewards Credit Card
The Bank of America Travel Rewards Credit Card is perfect for someone who wants to earn rewards for travel without an annual fee. This card comes with a signup bonus of 25,000 bonus points after you make at least $1,000 in purchases in the first 90 days of account opening. These points are worth $250 in travel rewards. This card has no annual fee.
- Earn 1.5 points per $1 spent on all purchases
- No foreign transaction fees
- You can redeem your points for travel, statement credits, gift cards, and more
The Bank of America Cash Rewards Credit Card
The Bank of America Cash Rewards Credit Card is perfect for someone who wants to earn rewards for everyday spending. This card comes with a signup bonus of $200 cash rewards after you make at least $1,000 in purchases in the first 90 days of account opening. This card has no annual fee.
- Earn 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings
- Earn 2% cash back at grocery stores and wholesale clubs
- Earn 1% cash back on all other purchases
- You can change your 3% cash back category once per month
- You can redeem your cash back rewards for statement credits, checks, or electronic deposits into a Bank of America checking or savings account
The Bank of America Business Advantage Cash Rewards Mastercard
The Bank of America Business Advantage Cash Rewards Mastercard is perfect for small business owners who want to earn cash back for their business spending. This card comes with a signup bonus of $300 cash rewards after you make at least $3,000 in purchases in the first 90 days of account opening. This card has no annual fee.
- Earn 3% cash back in the category of your choice: gas stations, office supply stores, travel, TV/telecom & wireless, computer services, or business consulting services
- Earn 2% cash back at restaurants
- Earn 1% cash back on all other purchases
- You can change your 3% cash back category once per month
- You can redeem your cash back rewards for statement credits, checks, or electronic deposits into a Bank of America checking or savings account
Travel Cards
Bank of America travel cards are perfect for customers who love to travel. Let’s take a look at two popular travel cards:
The Bank of America Premium Rewards Credit Card
The Bank of America Premium Rewards Credit Card, which we talked about earlier, is perfect for someone who wants to earn rewards for travel. In addition to the rewards program, this card comes with some great travel benefits:
- $100 airline incidentals statement credit annually
- No foreign transaction fees
- A $100 TSA PreCheck or Global Entry application fee credit every four years
The Bank of America Travel Rewards Credit Card
The Bank of America Travel Rewards Credit Card, which we also talked about earlier, is perfect for someone who wants to earn rewards for travel without an annual fee. In addition to the rewards program, this card also has some great travel benefits:
- No foreign transaction fees
- A $25,000-$250,000 travel accident insurance
Cashback Cards
Bank of America cashback cards are perfect for customers who want to earn cash back for their everyday spending. Let’s take a look at two popular cashback cards:
The Bank of America Cash Rewards Credit Card
The Bank of America Cash Rewards Credit Card, which we talked about earlier, is perfect for someone who wants to earn cash back for everyday spending.
The Bank of America Customized Cash Rewards Credit Card
The Bank of America Customized Cash Rewards Credit Card is perfect for someone who spends a lot of money on gas and groceries. This card comes with a signup bonus of $200 cash rewards after you make at least $1,000 in purchases in the first 90 days of account opening. This card has no annual fee.
- Earn 3% cash back on one category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings
- Earn 2% cash back at grocery stores and wholesale clubs
- Earn 3% cash back on the category of your choice and 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter
- Earn 1% cash back on all other purchases
- You can change your 3% cash back category once per month
- You can redeem your cash back rewards for statement credits, checks, or electronic deposits into a Bank of America checking or savings account
0% Introductory APR Cards
If you need to make a big purchase and want to pay it off over time, a Bank of America 0% introductory APR card might be right for you. Let’s take a look at two popular cards:
The Bank of America Cash Rewards Credit Card
The Bank of America Cash Rewards Credit Card, which we talked about earlier, is perfect for someone who wants to earn rewards and have a 0% introductory APR for purchases and balance transfers for the first 15 billing cycles. After that, the APR will be 13.99% – 23.99% variable.
The BankAmericard Credit Card
The BankAmericard Credit Card is perfect for someone who wants a 0% introductory APR for purchases and balance transfers for the first 18 billing cycles. After that, the APR will be 12.99% – 22.99% variable. This card has no annual fee.
Secured Cards
If you have bad credit or no credit, a Bank of America secured card might be right for you. A secured card requires a security deposit, which becomes your credit limit. Let’s take a look at one popular secured card:
The Bank of America Secured Credit Card
The Bank of America Secured Credit Card is perfect for someone who is trying to build or rebuild their credit. This card requires a minimum security deposit of $300 and has an annual fee of $39. This card reports to the three major credit bureaus, which can help boost your credit score with responsible use.
- Your credit limit will be equal to the amount of your security deposit
- You can increase your credit limit by adding to your security deposit in $100 increments
- You can be considered for an unsecured credit card after 12 months of responsible use
Student Cards
Bank of America has a credit card specifically designed for students. Let’s take a look at this card:
The Bank of America Travel Rewards Credit Card for Students
The Bank of America Travel Rewards Credit Card for Students is perfect for college students who want to earn rewards for their everyday spending. This card comes with a signup bonus of 25,000 bonus points after you make at least $1,000 in purchases in the first 90 days of account opening. These points are worth $250 in travel rewards. This card has no annual fee.
- Earn 1.5 points per $1 spent on all purchases
- No foreign transaction fees
- You can redeem your points for travel, statement credits, gift cards, and more
Conclusion
Bank of America credit cards cater to a variety of customers, from those who want to earn rewards for their everyday spending to those who love to travel or have bad credit. When choosing a BofA credit card, consider your spending habits and what rewards or benefits you want to receive. We hope this article has helped you find the best Bank of America credit card for your needs. Thank you for reading and see you in our next article!
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