Apply for the Bank of America Unlimited Cash Rewards Credit Card

The Bank of America Unlimited Cash Rewards® Credit Card is a simple, yet highly rewarding credit card that offers 1.5% cashback on every purchase, making it an excellent choice for those who want straightforward and consistent rewards.

Whether you’re spending on groceries, gas, or online shopping, this card earns you cashback on all your purchases with no need to track categories.

It is ideal for individuals looking for a no-hassle cashback card with a welcome bonus and no annual fee.

Let’s take a deeper look at the features, benefits, and considerations of the Bank of America Unlimited Cash Rewards® Credit Card.

Card Overview

The Bank of America Unlimited Cash Rewards® Credit Card provides 1.5% cashback on every purchase, with no rotating categories or limits to keep track of.

This simplicity makes it an attractive option for cardholders who want to earn cashback on all types of purchases.

In addition to its no annual fee, the card also offers a $200 online cash rewards bonus after spending $1,000 in the first 90 days from account opening.

Key Features of the Bank of America Unlimited Cash Rewards® Credit Card include:

• 1.5% cashback on all purchases.
• $200 online cash rewards bonus after spending $1,000 in the first 90 days.
• No annual fee.
• 0% Introductory APR for the first 15 billing cycles for purchases and balance transfers (then a variable APR of 16.99% – 24.99%).
• Access to the Preferred Rewards program for qualifying members, which can boost cashback earnings by 25% – 75%.

Reasons to Choose the Bank of America Unlimited Cash Rewards® Credit Card

1. Flat-Rate Cashback on All Purchases: One of the biggest selling points of the Bank of America Unlimited Cash Rewards® Credit Card is its 1.5% cashback on every purchase. There’s no need to track spending categories or worry about activation dates, making it ideal for people who prefer simplicity.
2. Generous Sign-Up Bonus: The $200 online cash rewards bonus after spending $1,000 in the first 90 days is an attractive offer. This bonus can give you a solid return on your initial spending and is an added benefit for those looking to maximize their rewards right from the start.
3. No Annual Fee: The Bank of America Unlimited Cash Rewards® Credit Card comes with no annual fee, meaning you won’t have to worry about paying a fee just to keep the card. This is a major advantage compared to other cashback cards that come with higher annual fees.
4. 0% Introductory APR for Purchases and Balance Transfers: For new cardholders, the 0% Introductory APR for the first 15 billing cycles on both purchases and balance transfers is a standout feature. If you have a large purchase or a balance transfer to make, you can carry that balance for up to 15 months without paying any interest. After the introductory period, a variable APR of 16.99% – 24.99% applies.
5. Access to Preferred Rewards Program: If you’re a Bank of America Preferred Rewards member, you can earn an even higher rate of cashback—up to 2.62% for every purchase. This is a great perk for those who already bank with Bank of America and want to take advantage of additional cashback opportunities.
6. Security and Convenience: The card comes with EMV chip technology for enhanced security in person, zero liability protection for unauthorized purchases, and 24/7 fraud monitoring. It also offers mobile wallet integration for easy and secure payments with Apple Pay, Google Pay, and Samsung Pay.

Negative Factors of the Bank of America Unlimited Cash Rewards® Credit Card

1. Limited Cashback Rate: While 1.5% cashback on all purchases is competitive, some other cards offer higher cashback rates on specific categories, such as groceries or travel. If you spend a lot in categories where other cards offer higher cashback, this card may not be the best option for you.
2. Foreign Transaction Fees: The Bank of America Unlimited Cash Rewards® Credit Card charges a 3% foreign transaction fee on purchases made outside the U.S. This can be a drawback for international travelers who want to avoid extra charges when using their card abroad.
3. APR After Introductory Period: While the 0% APR on purchases and balance transfers for the first 15 months is appealing, the variable APR of 16.99% – 24.99% can be quite high if you don’t pay off your balance in full before the introductory period ends.

What Are the Requirements to Apply for the Bank of America Unlimited Cash Rewards® Credit Card?

To apply for the Bank of America Unlimited Cash Rewards® Credit Card, you generally need to meet the following criteria:

1. Age: You must be at least 18 years old to apply.
2. Residency: Applicants must be U.S. residents with a Social Security Number (SSN).
3. Credit Score: A good to excellent credit score (typically 670 or higher) is preferred for approval.
4. Income Verification: You may need to provide proof of income to ensure you meet the creditworthiness requirements.

Fees and Costs

Here is a breakdown of the fees and costs associated with the Bank of America Unlimited Cash Rewards® Credit Card:

• Annual Fee: $0
• APR: 0% Introductory APR for 15 billing cycles for purchases and balance transfers (then 16.99% – 24.99% variable APR).
• Foreign Transaction Fee: 3% of each transaction.
• Cash Advance Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater.
• Late Payment Fee: Up to $40.
• Returned Payment Fee: Up to $40.

Frequently Asked Questions about the Bank of America Unlimited Cash Rewards Credit Card

1. How do I redeem my cashback with the Bank of America Unlimited Cash Rewards® Credit Card?

• Cashback can be redeemed for a statement credit, direct deposit into a Bank of America checking or savings account, or for a gift card or charitable donation.

2. What is the sign-up bonus for the Bank of America Unlimited Cash Rewards® Credit Card?

• New cardholders can earn a $200 online cash rewards bonus after spending $1,000 in the first 90 days from account opening.

3. Does the Bank of America Unlimited Cash Rewards® Credit Card have foreign transaction fees?

• Yes, it charges a 3% foreign transaction fee for purchases made outside of the U.S.

4. How much cashback do I earn with the Bank of America Unlimited Cash Rewards® Credit Card?

• The card offers 1.5% cashback on all purchases, with no rotating categories or limits.

5. Can I transfer a balance to the Bank of America Unlimited Cash Rewards® Credit Card?

• Yes, you can take advantage of the 0% introductory APR on balance transfers for the first 15 billing cycles, making it a good option if you want to pay off existing credit card debt without interest.

6. Is the Bank of America Unlimited Cash Rewards® Credit Card good for international travel?

• While the card offers great cashback rewards for domestic purchases, it charges a 3% foreign transaction fee, making it less ideal for international travelers compared to cards that offer no foreign transaction fees.

The Bank of America Unlimited Cash Rewards® Credit Card is a fantastic option for those who want to earn cashback on every purchase with no annual fee and a solid welcome bonus.

It offers 1.5% cashback on all purchases, which is simple and rewarding, particularly for those who don’t want to manage rotating categories.

The 0% introductory APR for the first 15 months is a nice perk for new cardholders, and those who are members of Preferred Rewards can earn even more cashback.

However, the foreign transaction fees and higher APR after the intro period may be drawbacks for some.

Overall, it’s a great card for those looking for a straightforward cashback option with no annual fee.