The Bank of America® Unlimited Cash Rewards is a solid choice if you’re looking for straightforward cash back rewards. With a cash back score of 4.3 out of 5, it ranks ninth out of the 52 cash back cards we’ve surveyed, thanks to its unlimited 1.5% cash back on all purchases and no annual fee.
If you’re a Bank of America Preferred Rewards® member with high balances, this card deserves serious consideration. With a cash back boost between 25% and 75%, you could earn up to a competitive 2.62% cash back on every purchase. This rate surpasses the standard 2% rate offered by many top cash back cards, like the Citi Double Cash® Card. Remember that you’ll need at least $20,000 in combined balances with Bank of America or Merrill to qualify, which might not be feasible for everyone.
Still, the BofA Unlimited Cash holds its own for its simplicity — more so if you qualify for a higher cash back rate through Preferred Rewards.