Bank of America offers a range of credit cards tailored to different financial needs and spending habits. Whether you’re looking to earn rewards, save on interest, or build credit, Bank of America has options that might meet your goals. With competitive rewards programs, low annual fees, and attractive introductory offers, these cards can provide significant benefits for consumers.
In this article, we’ll compare some of the top Bank of America credit cards to help you determine which one is right for you.
1. Overview of Bank of America Credit Cards
Bank of America provides a variety of credit cards, including options for cashback, travel rewards, and balance transfers. Some of the most popular cards include:
- Bank of America® Customized Cash Rewards Credit Card: A cashback card with customizable bonus categories.
- Bank of America® Travel Rewards Credit Card: A travel rewards card with unlimited 1.5 points per dollar on every purchase.
- Bank of America® Premium Rewards® Credit Card: A premium travel rewards card with higher earning rates and luxury perks.
- Bank of America® Cash Rewards Credit Card for Students: A student credit card designed to help young consumers earn cashback.
- Bank of America® Platinum Plus® Mastercard® Credit Card: A card designed for people looking to save on interest with 0% APR on purchases and balance transfers.
Each of these cards offers unique features and benefits, which cater to various spending habits and financial goals.
2. Key Features of Bank of America Credit Cards
1. Cash Back and Rewards Programs
Bank of America offers a variety of cashback and rewards credit cards, with some cards allowing you to earn cash back, points, or miles on specific purchases. Here’s a breakdown of the most popular rewards options:
- Bank of America® Customized Cash Rewards Credit Card:
- Rewards: 3% cashback in a category of your choice (such as gas, online shopping, dining, travel, drug stores, or home improvement), 2% at grocery stores and wholesale clubs, and 1% on all other purchases.
- Sign-Up Bonus: $200 online bonus after making at least $1,000 in purchases in the first 90 days.
- Annual Fee: $0
- Key Benefits: The customizable bonus category allows you to select the category that fits your spending habits, making this card an excellent option for people who want more control over their rewards.
- Bank of America® Travel Rewards Credit Card:
- Rewards: 1.5 points per dollar on every purchase, with no rotating categories or limits.
- Sign-Up Bonus: 25,000 online bonus points after making at least $1,000 in purchases in the first 90 days, worth a $250 statement credit toward travel purchases.
- Annual Fee: $0
- Key Benefits: This card offers simple, unlimited travel rewards with no annual fee or foreign transaction fees, making it a great option for people who want to earn travel rewards without complicated categories.
- Bank of America® Premium Rewards® Credit Card:
- Rewards: 2 points per dollar on travel and dining, and 1.5 points per dollar on all other purchases.
- Sign-Up Bonus: 50,000 online bonus points after making at least $3,000 in purchases in the first 90 days, worth $500 in statement credits toward travel expenses.
- Annual Fee: $95
- Key Benefits: Premium benefits include access to travel perks like airport lounge access, travel credits, and no foreign transaction fees. The card also offers valuable concierge services, making it ideal for frequent travelers.
2. Introductory Offers
Many Bank of America credit cards come with 0% introductory APR offers, which are beneficial for people looking to make large purchases or transfer balances:
- Bank of America® Customized Cash Rewards Credit Card:
- 0% Intro APR for the first 15 billing cycles on purchases and any balance transfers made in the first 60 days.
- After the introductory period, a variable APR of 17.74% – 27.74% applies, depending on your creditworthiness.
- Bank of America® Premium Rewards® Credit Card:
- 0% Intro APR for the first 12 billing cycles on purchases.
- After the introductory period, a variable APR of 17.74% – 24.74% applies.
These introductory APR periods can help cardholders avoid interest charges during the first year of owning the card, making them ideal for those who plan to make large purchases or transfer existing balances.
3. Preferred Rewards Program
For Bank of America customers who have a combined balance of $20,000 or more in eligible Bank of America and Merrill accounts, the Preferred Rewards program offers significant benefits. This program provides bonus rewards on many Bank of America credit cards:
- Customized Cash Rewards Credit Card: Earn 25% – 75% more cash back on every purchase depending on your tier in the Preferred Rewards program.
- Premium Rewards® Credit Card: Earn 25% – 75% more points on every purchase based on your tier.
The Preferred Rewards program can add significant value to your rewards, especially if you have large balances or maintain multiple accounts with Bank of America.
4. No Annual Fees on Many Cards
One of the standout features of Bank of America credit cards is that many of their options come with no annual fee, including the Customized Cash Rewards Credit Card and Travel Rewards Credit Card. This makes them cost-effective choices for those who want to maximize their rewards without paying extra fees.
However, the Premium Rewards® Credit Card does carry an annual fee of $95, which is typical for premium cards that offer higher rewards and additional perks.
5. Additional Benefits
Bank of America credit cards come with several additional features, such as:
- Cell Phone Protection: The Premium Rewards® Credit Card offers protection for your cell phone if it’s damaged or stolen when you pay your monthly cell phone bill with the card.
- Travel and Emergency Assistance: Available on most travel-related cards, this benefit helps cardholders in case of emergency while traveling.
- Purchase Protection: Many Bank of America cards include purchase protection, which covers theft or damage of new items within 90 days of purchase.
3. Comparing the Top Bank of America Credit Cards
Let’s compare the top Bank of America credit cards side-by-side to help you determine which one might be the best fit for your needs.
| Card Name | Best For | Rewards Program | Annual Fee | Introductory APR Offer | Sign-Up Bonus |
| Bank of America® Customized Cash Rewards Credit Card | Flexible cashback rewards | 3% in one category of your choice, 2% at grocery stores & wholesale clubs | $0 | 0% APR for 15 billing cycles on purchases and balance transfers | $200 online bonus after spending $1,000 in 90 days |
| Bank of America® Travel Rewards Credit Card | Earning travel rewards | 1.5 points per dollar on every purchase | $0 | 0% APR for 12 billing cycles on purchases | 25,000 bonus points (worth $250 in travel credits) after spending $1,000 in 90 days |
| Bank of America® Premium Rewards® Credit Card | Premium travel rewards | 2 points per dollar on travel & dining, 1.5 points on other purchases | $95 | 0% APR for 12 billing cycles on purchases | 50,000 bonus points (worth $500 in travel credits) after spending $3,000 in 90 days |
| Bank of America® Cash Rewards Credit Card for Students | Earning cashback as a student | 3% in a category of your choice, 2% at grocery stores | $0 | 0% APR for 15 billing cycles on purchases and balance transfers | $50 online bonus after spending $100 in 90 days |
| Bank of America® Platinum Plus® Mastercard® Credit Card | Intro APR on purchases and balance transfers | No rewards program | $0 | 0% APR for 18 billing cycles on balance transfers and 0% on purchases for 18 cycles | None |
4. Which Bank of America Credit Card is Right for You?
Choosing the right Bank of America credit card depends on your spending habits and financial goals. Here’s a quick guide to help you decide:
- For cashback: If you want to maximize cashback on everyday purchases, the Bank of America® Customized Cash Rewards Credit Card is a great choice, especially if you want to customize the 3% cashback category based on your spending preferences.
- For travel rewards: If you travel frequently, the Bank of America® Travel Rewards Credit Card is an excellent option for earning unlimited 1.5 points per dollar on all purchases. The Bank of America® Premium Rewards® Credit Card is ideal if you want more robust travel rewards and additional benefits like travel credits and airport lounge access.
- For students: The Bank of America® Cash Rewards Credit Card for Students is perfect for students who want to earn cashback on purchases while building credit. With a simple rewards structure and no annual fee, it’s a great option for young cardholders.
- For balance transfers: If you’re looking to save on interest, the Bank of America® Platinum Plus® Mastercard® Credit Card offers the longest introductory 0% APR period (18 billing cycles for purchases and balance transfers), which is great for paying down existing debt.
5. Conclusion
Bank of America offers a diverse selection of credit cards that cater to various spending preferences, whether you’re looking to earn cashback, travel rewards, or save on interest with a balance transfer. With no annual fees on many of its cards, generous rewards programs, and valuable introductory offers, Bank of America credit cards can be a great option for many consumers.
To choose the best card for you, consider your spending habits, whether you travel often, and whether you need introductory APR offers. With the right card, Bank of America can help you maximize your rewards and achieve your financial goals.
