Discover the best credit card deals

Bank of America® Cash Rewards credit card

If you don’t have a right credit card to pay for day-to-day expenses such as gas or groceries, you could be missing out on some big rewards. Bank of America® Cash Rewards credit card is one such card which rewards you on purchases at places such as online shopping, dining, travel, grocery stores, wholesale clubs, gas stations, and more.

  • No annual fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • Earn 3% cash back on gas or your choice of one of five other popular categories, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% - 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
  • No expiration on rewards
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase
Intro APR
0% on Purchases and qualifying Balance Transfers
Intro APR Period
15 billing cycles
Regular APR
16.24% - 26.24% Variable APR on purchases and balance transfers
Annual Fee
$0

Card Benefits

$200 Cash Back Bonus

With the Bank of America® Cash Rewards Credit Card, card members can earn a $200 cash back bonus just for using their card. All you have to do to get the bonus is spend $1,000 with your card in the first 90 days after opening your account. Earning the $200 bonus is like getting a 20% discount on your first $1,000 in purchases and it’s an easy way to put more cash back in your pocket.

Rewards Program

On top of the new member bonus, you’ll earn cash back rewards everywhere you go. The card pays you 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings, and 2% back on purchases at grocery stores and wholesale clubs. There is a cap of $2,500 in combined choice category/grocery store/wholesale club purchases per quarter. After that, those purchases earn 1% cash back. For all other purchases, you’ll automatically earn 1 percent cash back with no cap on how much cash back you can earn. You can request your cash back as a statement credit, check, or electronic deposit into a Bank of America® or Merrill Lynch Cash Management® Account. The best part is, your rewards never expire so you can use them whenever you like.

Loyalty Bonus

If you are a Bank of America Preferred Rewards customer, your rewards bonus can be between 25% and 75% of your base cash rewards. There are 3 tiers in the Preferred Rewards program: Gold, Platinum and Platinum Honors. Your tier is based on your qualifying combined balances in your Bank of America® deposit accounts and/or Merrill Edge® and Merrill Lynch® investment accounts. Depending on your eligible tier of Preferred Rewards, you can get a 25%, 50% to 75% rewards bonus on the baseline rewards. The following chart shows the qualification requirement of minimum balance and rewards for Gold, Platinum, Platinum Honors tiers of Preferred Rewards.

Preferred Rewards Tier Rewards Bonus Cash Rewards for the Tier
Gold Tier - $20,000 in combined balance of qualifying accounts 25%
  • 3.75% cash back in the spending category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings, and 2.5% cash back on purchases at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
  • 1.25% cash back on other purchases
Platinum Tier - $50,000 in combined balance of qualifying accounts 50%
  • 4.5% cash back in the spending category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings, and 3% cash back on purchases at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
  • 1.5% cash back on other purchases
Platinum Honors Tier - $100,000 in combined balance of qualifying accounts 75%
  • 5.25% cash back in the spending category of your choice, and 3.5% cash back on purchases at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
  • 1.75% cash back on other purchases

Interest and Fees

The Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer carries no annual fee, so it won’t cost you anything to earn cash back. As an added perk, new members pay zero interest on purchases and qualified balance transfers for an extended period of 15 billing cycles, which is great if you plan on making a large purchase or transferring a high interest balance to the card. After the intro period ends, the go-to rate of 16.24% - 26.24% Variable applies.

Is this the right card for you?

With no annual fee and an easy-to-understand rewards structure, the Bank of America® Cash Rewards credit card is a great choice if you want to get more cash back on the things you buy every day. If you’re already a Bank of America® customer, you won’t want to miss out on the additional bonuses the card offers.

Credit CardsPurchase APRTransfer InfoAnnual Fee Credit Level
Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

0% intro APR
for 15 billing cycles

16.24% - 26.24% Variable APR after that

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

16.24% - 26.24% Variable APR after that

$0

Excellent / Good CreditApply NowView Card Details
  • No annual fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • Earn 3% cash back on gas or your choice of one of five other popular categories, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% - 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
  • No expiration on rewards
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase
  • No annual fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • Earn 3% cash back on gas or your choice of one of five other popular categories, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% - 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
  • No expiration on rewards
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase