Bank of America Credit Card Reviews, Rules & Opinions
Individuals and businesses have several different Bank of America cards from which to choose. We have scrutinized all and picked the best of the lot after comparing them across various parameters.
FIND YOUR NEXT CREDIT CARD
Find the best credit card for your financial goals by comparing cards from the top issuers.
The different types of Bank of America cards include rewards cards, cash back cards, co-branded cards, student cards, secured cards and business cards. In all, the bank currently has 27 cards on offer. If you wish to qualify for the best Bank of America credit cards, you’ll typically need a credit score of over 750. However, the bank also has cards for people with credit scores of over 650.
Students with little to no credit history get a few options to choose from, as do people who wish to build their credit by using secured cards.
Featured Credit Cards Offered by Bank of America
Bank of America has 27 credit cards in its portfolio. These include rewards credit cards for individuals and businesses, student credit cards, secured credit cards and a few co-branded cards. A number of these cards come with spend-based welcome bonuses in the form of cash rewards, statement credits and bonus points.
Other Cards Issued by Bank of America
In addition to the featured cards mentioned above, Bank of America also offers the following cards:
- Bank of America Unlimited Cash Rewards Card: This card is best suited for people who don't want to pay annual fees and wish to earn 1.5% cash back on all purchases.
- Bank of America Premium Rewards Elite Card: You may want to consider getting this card, which comes with a $550 annual fee, if you're looking for premium benefits and statement credits.
- Bank of America Unlimited Cash Rewards for Students Card: This card with no annual fees is ideal for students who wish to earn 1.5% cash back on all purchases.
- Bank of America Unlimited Cash Rewards Secured Card: You may want to consider getting this no-annual-fee secured card if you wish to build your credit and earn 1.5% cash back on all purchases.
- Business Advantage Unlimited Cash Rewards Card: This business card with 1.5% cash back on all purchases may work well for business owners looking for a straightforward, no-annual-fee option.
The Best Bank of America Credit Cards for April 2022
Our experts review this list of the top three Bank of America credit cards every month. Their revised selection takes into account aspects such as reward categories, welcome bonuses, annual fees and added perks.
- Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
A great no-annual-fee business rewards card with several added benefits
- $0Annual Fee
- 15.24% – 25.24%APR
- 9 monthsAPR Offer Duration
- 1.5-3 PointsRewards Rate
- 3xRewards Rate on Air Travel
- BankAmericard® credit card
A good no-annual-fee credit card with a 0% APR offer on purchases and balance transfers
- Good-ExcellentRecommended Credit
- $0Annual Fee
- 21 monthsAPR Offer Duration
- 21 monthsBalance Transfer Duration
- Bank of America® Customized Cash Rewards credit card
A great no-annual-fee card for earning high cash back on bonus categories
- Good-ExcellentRecommended Credit
- $0Annual Fee
- 1% - 3% Cash BackRewards Rate
- 18 monthsAPR Offer Duration
- 18 monthsBalance Transfer Duration
Rules for Applying, Acceptance & Welcome Bonuses
If you plan to apply for a Bank of America credit card, you might benefit by looking at aspects such as eligibility criteria, the number of cards you may get and how often you may claim welcome bonuses.
Other Considerations About Bank of America
While you need to look at card-specific features before selecting one that works well for you, you might benefit by looking at how Bank of America fares across different, more general parameters as well.
Customer Service & Satisfaction
With over 700 ratings, Bank of America scores 3.6 out of 5 on ConsumerAffairs. Some of the bank’s customers have complaints about the level of customer service they receive. You may contact a Bank of America representative over the phone, by mail or via the bank’s social media accounts.
Mobile Apps & Online Services
Security & Credit Monitoring Services
All Bank of America credit cards come with $0 fraud liability. Its business cards offer fraud monitoring as well. The bank gives you the option of linking your credit card to a Bank of America checking account for overdraft protection.
You get the option of accessing your updated FICO score for free every month, which you may do via the bank’s website or app.
Loyalty Programs & Other Issuer Perks
Bank of America runs the Preferred Rewards program. To become a member, you need an active and eligible Bank of America checking account. In addition, you’ll need a three-month combined average daily balance of at least $20,000 or more in your Bank of America deposit accounts and/or Merrill investment accounts. Once you become a member and depending on your membership status, you stand to get a 25%, 50% or 75% rewards bonus through your eligible Bank of America credit card.
There is no minimum age requirement for adding authorized users to your Bank of America credit card account. In addition, adding them comes with no extra fees, but you are limited to nine authorized users.
When it comes to business credit cards, there is no limit to the number of authorized users you may add.
Overall Opinion of Bank of America & Their Credit Card Offerings
Given the different types of Bank of America cards on offer, there’s a good chance you’ll find one to suit your requirements. For instance, it has cards for people who have poor credit and options for students. Depending on what you’re looking for in your new credit card, getting a Bank of America card might work well for you in different scenarios.
You want to build credit.
You may want to consider applying for a secured credit card from Bank of America if you have poor credit and wish to improve your credit score. Depending on the card you get and how well you manage your finances, you may look forward to getting your security deposit back and upgrading to an unsecured card after Bank of America begins reviewing your account periodically.
You’re a student.
Students get multiple options from which to choose. These include cards with bonus reward categories and welcome offers. Students who plan to travel overseas might benefit by getting a Bank of America student card with no foreign transaction fees.
You’re a frequent traveler.
Depending on whether you favor using any particular airline, you might benefit by getting a co-branded airline card. Alternatively, you may choose from different Bank of America non-co-branded travel cards such as the Bank of America Travel Rewards Card, the Bank of America Premium Rewards Card, the Bank of America Premium Rewards Elite Card and the Bank of America Travel Rewards Card for Students.
"Bank of America partners with several popular travel brands, but its most valuable cards could be its own cash and travel rewards cards. For customers who have substantial relationships with the bank, you could earn up to a 75% bonus on the rewards that you earn each month. With that extra bonus, you are earning some of the highest rewards available from any bank."
- Lee Huffman, credit card expert at BaldThoughts.com
Still Not Sure About This Issuer? Consider These Options.
If you’re still not sure about whether you should get a Bank of America credit card, consider checking what other leading credit card issuers have to offer. You may also want to look at cards from specific categories such as travel rewards, cash back and balance transfers.
Learn More About Credit Cards in General
- ConsumerAffairs. "Bank of America." Accessed February 25, 2022.
- Google Play. "Bank of America Mobile Banking." Accessed February 25, 2022.
- App Store. "Bank of America Mobile Banking." Accessed February 25, 2022.
- Bank of America. "Preferred Rewards." Accessed February 25, 2022.
- Bank of America. "Increasing Preferred Rewards with Credit Cards." Accessed February 25, 2022.
- Bank of America. "Business Credit Card FAQs." Accessed February 25, 2022.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.