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Best Bank of America Credit Cards

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by Sean Bryant | Updated Aug. 2, 2017

Overview of the Best Bank of America Credit Cards

Bank of America® is the third largest issuer of credit cards in the United States. They offer a range of credit cards that provide excellent value to consumers with varying needs. Amongst Bank of America’s offerings are cards that provide travel rewards, cash back rewards and low introductory rates. Consumers who have checking or savings accounts with Bank of America receive an additional 10% rewards bonus on every purchase made with a Bank of America rewards card. The rewards bonus increases to 25%-75% for Preferred Rewards clients that meet certain balance requirements. See More



Best Bank of America Credit Card for Cash Back

More Details

  • No annual fee
  • $150 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, 14.74% - 24.74% 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

Annual Fee

$0

Purchase Intro APR

0% Introductory APR on purchases for 12 billing cycles

Balance Transfer Intro APR

0% Intro APR for 12 billing cycles for balance transfers made in the first 60 days

Regular APR

14.74% - 24.74% Variable APR on purchases and balance transfers

Benefits

If you find yourself spending a lot of money on groceries and gas, then you might be interested in Bank of America® Cash Rewards Credit Card. With this card you will earn 3% cash back at gas stations, 2% back at grocery stores and wholesale clubs and 1% back on everything else. There is a maximum of $2,500 per quarter on grocery/gas/wholesale club purchases.

When you sign up for Bank of America® Cash Rewards Credit Card you receive a $150 bonus after spending $500 in the first 90 days. That’s a generous bonus for a card that doesn’t have an annual fee.

If you are an existing Bank of America customer, you have the chance to earn even more rewards. When you have a Bank of America checking or savings account, you’ll receive a 10% bonus on any rewards you earn. Plus, if you are a Bank of America Preferred Rewards client you can earn between a 25%-75% bonus.

Things to Consider

Are you planning a large purchase? If so, then you might like a little extra time to pay off the purchase interest-free. With this card you will receive 0% APR for the first 12 billing cycles. Just make sure you can pay off the balance before the introductory period is over because the APR will change to 14.74% - 24.74% Variable APR on purchases and balance transfers.

Verdict

If you find yourself spending more than $2,500 each quarter within the bonus categories then the value of this card will be reduced. If not, then this is a very solid cash back card for anyone’s wallet.

Best Bank of America Credit Card for Travel

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  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire
  • 20,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $200 statement credit toward travel purchases
  • Use your card to book your trip how and where you want – you’re not limited to specific websites with blackout dates or restrictions
  • Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees
  • Comes with chip technology for enhanced security and protection at chip-enabled terminals
  • 0% Introductory APR for 12 billing cycles for purchases, then 16.49% - 24.49% Variable APR
  • Get an additional 10% customer points bonus on every purchase when you have an active Bank of America® checking or savings account
  • If you’re a Preferred Rewards client, you can increase that bonus to 25% - 75%

Annual Fee

$0

Purchase Intro APR

0% Introductory APR on purchases for 12 billing cycles

Balance Transfer Intro APR

N/A

Regular APR

16.49% - 24.49% Variable APR on purchases and balance transfers

Benefits

Finding a travel credit card with no annual fee is tough to do. But that’s exactly what Bank of America® Travel Rewards Credit Card offers. It also gives you the ability to earn 1.5x points on every purchase you make. As long as your account stays open, your points will never expire.

After being approved for Bank of America® Travel Rewards Credit Card, you’ll receive a 20,000-point bonus after spending $1,000 within the first 90 days. This is worth a $200 statement credit on any travel expense. Just book your travel plans like you normally would and then apply your points to cover the expense.

If you are a Bank of America customer, then you can earn even more rewards with your card. If you have a Bank of America savings or checking account, you will earn a 10% bonus on the rewards earned. If you are a Bank of America Preferred Rewards client you can earn a bonus between 25%-75%.

Things to Consider

In addition to being able to earn travel rewards on each purchase, this card comes with an introductory 0% APR. You will receive 0% APR on purchases for the first 12 billing cycles. After that the APR will change to 16.49% - 24.49% Variable APR on purchases and balance transfers.

Verdict

Bank of America® Travel Rewards Credit Card is one of the better travel credit cards available. You will earn a flat 1.5x points on every purchase and your rewards can be redeemed for any travel expense.

Best Bank of America Credit Card for Balance Transfers

More Details

  • 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days, then 14.49% - 24.49% Variable APR. 3% fee (min $10) applies to balance transfers
  • No annual fee
  • No penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply.
  • Access your FICO® Score for free within Online Banking or your Mobile Banking app

Annual Fee

$0

Purchase Intro APR

0% Introductory APR on purchases for 15 billing cycles

Balance Transfer Intro APR

0% Intro APR for 15 billing cycles for balance transfers made in the first 60 days

Regular APR

14.49%-24.49% Variable APR on purchases and balance transfers

Benefits

BankAmericard® Credit Card is a strong value option for consumers who currently carry debt on high interest credit cards.

While this card does not offer much of the glitz and glam that Bank of America rewards credit cards offer, it does have one very attractive benefit: a 0% APR for 15 billing cycles on balance transfers (transfers that are made within 60 days of opening an account). Once the introductory period is over, the APR will become 14.49%-24.49% Variable APR on purchases and balance transfers. If you have been working hard to eliminate debt, this could be the perfect card to help you accomplish your goal.

Things to Consider

If you were hoping to grab a high sign-up bonus or start earning rewards on purchases, this isn’t the card for you. This is because once the promotional balance transfer period is over, BankAmericard® Credit Card doesn’t offer cardholders much more than a reasonable long term variable APR. On the bright side, it doesn’t have an annual fee so you can always keep the card open to increase your average length of credit which positively benefits your credit score.

Verdict

If you’re paying credit card interest on current debt and want to save money on interest, BankAmericard® Credit Card will help you out.

Methodology SmartAsset has developed a quantitative and independent system for evaluating the relative value of a credit card offer versus other offers in the marketplace. Our system evaluates cards based exclusively on their features, such as their rewards earning rate (if applicable), fees, perks, and rewards program redemption options. The annual rewards values on this page are calculated using annual spending assumptions in various categories such as, but not limited to, gas, restaurants, airfare, and US supermarkets. These spending assumptions are built on research that SmartAsset has conducted on existing secured credit cardholders. Our promise with our credit card recommendations is that we will always strive to have the most comprehensive, accurate, and objective method of evaluating credit card offers. Any recommendations are solely determined by the result of this research and model, and is never influenced by any fees, commissions, or other forms of compensation that SmartAsset may receive from credit card issuers for leads generated on our website.

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