Bank of America® Credit Cards

Bank of America has a variety of high-value credit cards, offering everything from cash back rewards to travel perks. Below are our top picks for the best Bank of America credit cards of 2019 available from our partners.

Top Picks

Best for travel

Bank of America Image

Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website

Bank of America® Travel Rewards Visa® credit card

Rewards Rate:
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
Welcome Offer:
25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
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

Card Details

  • 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
  • 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 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
  • 0% Introductory APR for 12 billing cycles for purchases. After the intro APR ends, 16.49% - 24.49% Variable APR will apply
  • If you’re a Preferred Rewards member, you can earn 25% - 75% more points on every purchase
Terms and Restrictions Apply

Best for cash back

Bank of America Image

Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website

Bank of America® Cash Rewards credit card

Rewards Rate:
Earn 3% cash back in the category of your choice. Earn 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) Earn unlimited 1% on all other purchases
Welcome Offer:
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
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 any balance transfers made in the first 60 days
Regular APR:
15.49% - 25.49% Variable APR on purchases

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 in the category of your choice, 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, 15.49% - 25.49% 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
Terms and Restrictions Apply

Best for balance transfers

Bank of America Image

Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website

BankAmericard® credit card

Rewards Rate:
N/A
Welcome Offer:
N/A
Annual Fee:
$0
Purchase Intro APR:
0% Introductory APR on purchases for 18 billing cycles
Balance Transfer Intro APR:
0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days
Regular APR:
14.49% - 24.49% Variable APR on purchases

Card Details

  • 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 14.49% - 24.49% Variable APR will apply. A 3% fee (min $10) applies to all 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
Terms and Restrictions Apply

Best for a large sign-up bonus

Bank of America Image

Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website

Bank of America® Premium Rewards® Visa® credit card

Rewards Rate:
Earn unlimited 2 points for every $1 spent on travel and dining purchases. Earn unlimited 1.5 points per $1 spent on all other purchases.
Welcome Offer:
Receive 50,000 bonus points - a $500 value - after you make at least $3,000 in purchases in the first 90 days of account opening.
Annual Fee:
$95
Purchase Intro APR:
N/A
Balance Transfer Intro APR:
N/A
Regular APR:
17.49% - 24.49% Variable APR on purchases

Card Details

  • Receive 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases
  • If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
  • No limit to the points you can earn and your points don't expire
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill accounts, or gift cards or purchases at the Bank of America Travel Center
  • Get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections
  • No Foreign Transaction Fees
  • Low $95 annual fee
Terms and Restrictions Apply

Best for a strong airline transfer program

Bank of America Image

Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website

Alaska Airlines Visa Signature® credit card

Rewards Rate:
Earn unlimited 3 miles for every $1 spent on eligible Alaska Airlines purchases. Unlimited 1 mile for every $1 spent on all other purchases.
Welcome Offer:
Get 40,000 bonus miles and Alaska's Famous Companion Fare™ from $121 ($99 fare plus taxes and fees from $22) with this offer. To qualify, make purchases of $2,000 or more within the first 90 days of opening your account
Annual Fee:
$75
Purchase Intro APR:
N/A
Balance Transfer Intro APR:
N/A
Regular APR:
17.49% - 25.49% Variable APR on purchases

Card Details

  • Now - 40,000 Bonus Mile + Alaska's Famous Companion Fare™ Offer.
  • Get 40,000 bonus miles and Alaska's Famous Companion Fare™ from $121 ($99 fare plus taxes and fees from $22) with this offer. To qualify, make purchases of $2,000 or more within the first 90 days of opening your account.
  • Save with a free checked bag on Alaska flights for you and up to six other guests on the same reservation.
  • Get Alaska's Famous Companion Fare™ every year! Each year on your account anniversary get a companion fare from $121 ($99 plus taxes and fees from $22). Valid on all Alaska flights booked on alaskaair.com with no blackout dates.
  • Earn unlimited 3 miles for every $1 spent on eligible Alaska Airlines purchases and 1 mile for every $1 spent on all other purchases. And, your miles don't expire on active accounts.
  • New! Enjoy 50% off day passes at the Alaska Lounge and 20% back on all Alaska Airlines inflight purchases when you pay with your new card.
  • Redeem miles with no blackout dates on any of Alaska's 1,200 daily flights or choose from over 900+ destinations with more than a dozen global airline partners. Plus, get exclusive access to discounted redemption levels when you redeem miles for hotel stays at over 400,000 properties using Alaska Airlines Hotels.
  • Plus, no foreign transaction fees and a low $75 annual fee.
Terms and Restrictions Apply

Best business card for cash back

Bank of America Image

Recommended Credit Score

Excellent (740 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website

Bank of America® Business Advantage Cash Rewards Mastercard® credit card

Rewards Rate:
3% cash back in the category of your choice (on the first $50,000 in combined choice category/dining purchases each calendar year) 2% cash back on dining (on the first $50,000 in combined choice category/dining purchases each calendar year) Unlimited 1% cash back on all other purchases
Welcome Offer:
Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening - with no annual fee and cash rewards don't expire.
Annual Fee:
$0
Purchase Intro APR:
0% Introductory APR on purchases for 9 billing cycles
Balance Transfer Intro APR:
N/A
Regular APR:
13.74% - 23.74% Variable APR on purchases

Card Details

  • Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening – with no annual fee and cash rewards don't expire.
  • Earn 3% cash back in the category of your choice, 2% cash back on dining and unlimited 1% cash back on all other purchases.
  • You'll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
  • 0% Introductory APR on purchases for your first 9 billing cycles.
  • Redeem your cash rewards as a statement credit, check, or have cash deposited into a Bank of America® checking or savings account.
  • Get 75% more cash back on every purchase when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases.
Terms and Restrictions Apply

Best business card for travel rewards

Bank of America Image

Recommended Credit Score

Excellent (740 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

Rewards Rate:
Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center - powered by Expedia®. Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
Welcome Offer:
Earn 25,000 bonus points when you make at least $1,000 in net purchases within 60 days of your account opening which can be redeemed for a $250 statement credit towards travel purchases.
Annual Fee:
$0
Purchase Intro APR:
0% Introductory APR on purchases for 9 billing cycles
Balance Transfer Intro APR:
N/A
Regular APR:
12.74% - 22.74% Variable APR on purchases

Card Details

  • Earn 25,000 bonus points when you make at least $1,000 in net purchases within 60 days of your account opening which can be redeemed for a $250 statement credit towards travel purchases.
  • Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
  • Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center - powered by Expedia®.
  • No annual fee and no international transaction fees.
  • 0% Introductory APR on purchases for your first 9 billing cycles.
  • Redeem points for travel with no blackout dates, cash back or gift cards.
  • Get a 75% rewards bonus on the base earn of every purchase you make when you're a Business Advantage Relationship Rewards Platinum Honors tier client. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
Terms and Restrictions Apply

Best for businesses that fly with Alaska Airlines

Bank of America Image

Recommended Credit Score

Excellent (740 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website

Alaska Airlines Visa® Business credit card

Rewards Rate:
Earn 3 miles for every $1 spent directly on Alaska Airlines purchases 1 mile for every $1 spent on all other purchases
Welcome Offer:
40,000 Bonus Miles + Alaska's Famous Companion Fare™ Offer: Get 40,000 bonus miles plus Alaska's Famous Companion Fare from $121 ($99 fare plus taxes and fees from just $22) with this offer. To qualify, make purchases of $2,000 or more within the first 90 days of opening your account.
Annual Fee:
$50 for the company and $25 per card
Purchase Intro APR:
N/A
Balance Transfer Intro APR:
N/A
Regular APR:
17.49% - 25.49% Variable APR on purchases

Card Details

  • Get 40,000 bonus miles plus Alaska's Famous Companion Fare from $121 ($99 fare plus taxes and fees from just $22) with this offer. To qualify, make purchases of $2,000 or more within the first 90 days of opening your account.
  • Get Alaska's Famous Companion Fare™ from $121 ($99 plus taxes and fees from $22) every year! That’s right, each year on your account anniversary get a companion fare from $121 ($99 plus taxes and fees from $22). Valid on all Alaska flights booked on alaskaair.com with no blackout dates.
  • Save with a free checked bag on Alaska flights for you and up to six other guests on the same reservation.
  • Earn 3 miles for every $1 spent directly on Alaska Airlines purchases and 1 mile for every $1 spent on all other purchases.
  • New! 50% off Alaska Lounge day passes and 20% back on inflight food, beverage and Wi-Fi purchases when you pay with your card.
  • Get exclusive access to discounted redemption levels when you redeem miles for hotel stays at over 400,000 properties using Alaska Airline Hotels.
  • Earn unlimited miles and travel with no blackout dates and no international transaction fees.
  • Enjoy many money saving benefits, 800+ destinations, more than a dozen global airline partners and a low annual fee of $50 for the company and $25 per card.
Terms and Restrictions Apply

Best for businesses who need to carry a balance

Bank of America Image

Recommended Credit Score

Excellent (740 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website

Bank of America® Platinum Plus® Mastercard® Business card

Rewards Rate:
N/A
Welcome Offer:
$300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening.
Annual Fee:
$0
Purchase Intro APR:
0% Introductory APR on purchases for 7 billing cycles
Balance Transfer Intro APR:
N/A
Regular APR:
11.74% - 22.74% Variable APR on purchases

Card Details

  • Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening.
  • Save on interest with a competitive purchase APR.
  • No annual fee.
  • 0% Introductory APR on purchases for your first 7 billing cycles.
  • Employee cards at no additional cost to you and with credit limits you set.
Terms and Restrictions Apply

Best for Virgin Atlantic flyers

Bank of America Image

Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website

Virgin Atlantic World Elite Mastercard®

Rewards Rate:
Earn 3 miles per $1 spent directly on Virgin Atlantic purchases 1.5 miles per $1 spent on all other purchases with no limit to the number of miles you can earn
Welcome Offer:
For a limited time: Earn up to 80,000 bonus miles with the new Virgin Atlantic World Elite Mastercard®
Annual Fee:
$90
Purchase Intro APR:
N/A
Balance Transfer Intro APR:
N/A
Regular APR:
16.49% - 24.49% Variable APR on purchases

Card Details

  • For a limited time: Earn up to 80,000 bonus miles with the new Virgin Atlantic World Elite Mastercard®
  • New! Get a companion reward in the same cabin class when you redeem Flying Club miles for a Virgin Atlantic reward ticket. Must spend $25,000 or more in purchases annually to qualify
  • Earn 3 miles per $1 spent directly on Virgin Atlantic purchases and 1.5 miles per $1 spent on all other purchases with no limit to the number of miles you can earn
  • Redeem miles for flights on any of Virgin Atlantic’s domestic and international partner airlines
  • 25 tier points per $2,500 in purchases (maximum 50 per month) to elevate your Flying Club status
  • No foreign transaction fees
  • Low annual fee of $90
  • Residents of the US and its territories only
Terms and Restrictions Apply

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.


Author: Barry Bridges


 

In this article:

Bankrate’s top picks for Bank of America credit cards

Card Name Best for Bankrate Review Score
Bank of America® Travel Rewards Visa® credit card Travel 4.3/5
Bank of America® Cash Rewards credit card Cash back 4.4/5
BankAmericard® credit card Balance transfers 4.5/5
Bank of America® Premium Rewards® Visa® credit card Large sign-up bonus 4.6/5
Alaska Airlines Visa Signature® credit card Strong airline transfer program 4.7/5
Bank of America® Business Advantage Cash Rewards Mastercard® credit card Business card for cash back 4.7/5
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card Business card for travel rewards 4.2/5
Alaska Airlines Visa® Business credit card Businesses that fly with Alaska Airlines 4.0/5

How we chose our favorite Bank of America cards

Bankrate’s team of credit card experts evaluated the Bank of America credit cards available for 2019 against our proprietary scoring method. Each card has been awarded a unique score out of a total of 5.

We have picked out the best cards for various scenarios. There’s no one-size-fits-all when it comes to finding the best credit cards. The perfect card for you depends on what you are looking for. We have tried to do the hard work for you to help you find the Bank of America card to best suit your needs.

Scoring criteria

The Bankrate card experts have evaluated Bank of America credit cards on various attributes, including annual fees, sign-up bonuses, APR, rewards value and additional features like travel insurance. Each category is weighted accordingly to produce a final score out of a possible 5.

Deeper details on our top Bank of America credit cards

Bank of America® Travel Rewards Visa® credit card

This card is a great option for your first travel rewards card, or if you won’t be traveling enough in 2019 to warrant a premium travel card, but you still want a card you can use outside the U.S. with no foreign transaction fee and that you can use toward travel-related expenses. With the Bank of America® Travel Rewards credit card, you get a ton of flexibility allowing you to use your rewards to fly any airline, stay with any hotel chain, at any time.

Pros:

  • You get 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening. That can be a $250 statement credit toward travel purchases
  • Points earned can be redeemed as statement credit for qualified travel spending, which means you’re not tied to a specific airline or hotel chain.
  • No foreign transaction fee.

Cons:

  • You have to make your travel purchase first and then get your travel expenses back as statement credit.
  • No lounge access or travel protections.
  • There are higher flat-rate cash back cards.

Read our full Bank of America Travel Rewards credit card review.

Bank of America® Cash Rewards credit card

This card offers decent rewards rates on groceries and gas, but the real value is unlocked if you are a Preferred Rewards member. That way, you can earn 25% – 75% more cash back on every purchase. (See the “Bank of America Preferred Rewards” section to learn more.) This card is great for anyone looking for a straightforward cash back card for 2019 that offers good rewards rates on the categories you already spend heavily in, like grocery stores, wholesale clubs and gas stations.

Pros:

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • This card offers 3% back on choice category purchases (gas, online shopping, dining, travel, drug stores, or home improvement/furnishings) and 2% back on spending at grocery stores and wholesale clubs up to $2,500 in combined spending per quarter, and unlimited 1% on all other spending.
  • If you’re a Preferred Rewards member, you can earn 25% – 75% more cash back on every purchase.
  • No annual fee.

Cons:

  • You will pay a 3% foreign transaction fee on purchases made outside the U.S.
  • The 3% and 2% cash-back rates have a spending limit of up to $2,500 in combined purchases per quarter which could be restrictive for anyone who spends heavily in those categories.

Read our full Bank of America Cash Rewards review.

BankAmericard® credit card

A balance transfer credit card can be a great tool to consolidate debt in 2019 and pay down what you owe without incurring interest. The best balance transfer cards offer long introductory periods and low balance transfer fees, this card delivers on both. While this isn’t industry-leading (there are some cards offering $0 balance transfer fees) it’s better than most.

Pros:

  • Intro APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days (14.49% – 24.49% variable APR thereafter).
  • No annual fee.
  • No penalty rate. Paying late won’t automatically raise your interest rate. Other account pricing and terms apply.

Cons:

  • This card doesn’t offer a sign-up bonus.
  • On purchases outside the U.S., you will pay a foreign transaction fee of 3%.

Read our full BankAmericard credit card review.

Bank of America® Premium Rewards® Visa® credit card

As with all of the Bank of America credit cards, your rewards rates are improved for loyal Bank of America customers. Preferred Rewards members can earn 25%-75% more points on every purchase (based on your enrolled tier: Gold 25%, Platinum 50%, Platinum Honors 75%). The Premium Rewards card not only offers great rewards rates but also a generous sign-up bonus. The card’s $95 annual fee is more than made up for by up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections.

Pros:

  • Receive 50,000 bonus points, a $500 value, after you make at least $3,000 in purchases in the first 90 days of account opening.
  • Earn unlimited 2 points per $1 spent on travel and dining purchases and 1.5 points per $1 spent on everything else.
  • You have the flexibility to redeem for a statement credit, deposit into eligible Bank of America® or Merrill accounts like checking, savings, and 529, for gift cards or use at the Bank of America Travel Center.
  • No foreign transaction fee.

Cons:

  • $95 annual fee.

Read our full Bank of America Premium Rewards card review.

Alaska Airlines Visa Signature® credit card

Co-branded airline credit cards tend to get a bad rap for inflexibility. Not so with the Alaska Airlines Visa Signature card because you can transfer your miles to a range of airline partners. That means you can get to over 900+ destinations on your rewards. That’s a great perk of this card. Couple that fact with the Companion Fare™ offer, which gives you a companion ticket on Alaska Airlines starting at $121 ($99 plus taxes and fees from $22), valid on all Alaska flights booked on alaskaair.com, and Alaska Airlines Visa Signature has a very compelling offer. To qualify, make purchases of $2,000 or more within the first 90 days of opening your account. If you regularly fly long-haul, and or plan to in 2019, this card offers the most value.

Pros:

  • Earn unlimited 3 miles for every $1 spent on eligible Alaska Airlines purchases and 1 mile for every $1 on everything else.
  • Now – 40,000 Bonus Mile + Alaska’s Famous Companion FareTM Offer.
  • Your travel options are expanded as you can transfer your miles to numerous airline partners.
  • Alaska’s companion fare could save you hundreds of dollars.
  • Free checked baggage for up to six traveling with you on the same reservation.

Cons:

  • $75 annual fee.
  • If you don’t travel routes frequented by Alaska Airlines or its partners then this probably isn’t the best card for you.

Read our full Alaska Airlines Visa Signature card review.

Bank of America® Business Advantage Cash Rewards Mastercard® credit card

The Bank of America Business Advantage Cash Rewards Mastercard credit card offers a high tiered rewards rate in your choice of one of six categories. You will earn 3% cash back on your choice of one of the following:

  • Gas stations (default)
  • Office supply stores
  • Travel
  • TV/telecom & wireless
  • Computer services
  • Business consulting services

You also earn 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases.
Obviously, it depends if your business spends heavily in these categories as to whether this is the best option for you but it’s certainly a compelling deal in the Small Business credit card industry.

Pros:

  • Generous sign-up bonus that is easily attainable (a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening).
  • No annual fee and cash rewards don’t expire.
  • Great rewards rates if your business spends heavily on any of the six choice categories.
  • You get 75% more cash back on every purchase when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 5.25% on your selected choice category, 3.5% on dining and unlimited 1.75% cash back on all other purchases.

Cons:

  • The 2% rewards rate on restaurants is limited to actual restaurants, coffee shops and cafes are not included like they are with some other cards.
  • The guidelines for what qualifies as an office supply store are also somewhat strict, so make sure to check out the details to ensure you’ll still benefit.

Read our full Bank of America Business Advantage Cash Rewards Mastercard review.

Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

For small businesses that clock a lot of miles, you might want to consider the Business Advantage Travel Rewards World Mastercard for 2019.  The card offers 1.5 points on every dollar you spend and 3 points per dollar spent on travel booked through the Bank of America® Travel Center — powered by Expedia®. That means you get maximum flexibility with no blackout dates. If your business takes you outside of the U.S. you can use your card happily knowing that you won’t be incurring foreign transaction fees. Your rewards with this card are unlimited which is generous for a no annual fee card.

Pros:

  • A sign-up offer of 25,000 bonus points after you spend $1,000 in net purchases within 60 days of opening your account (worth $250 in statement credit toward travel expenses).
  • If you’re a Business Advantage Relationship Rewards Platinum Honors tier client, you get a 75% rewards bonus on the base earn of every purchase you make. As a result, you earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America Travel Center.

Cons:

  • There are business cards with more generous rewards rates.

Alaska Airlines Visa® Business credit card

If your business requires you to regularly travel the routes frequented by Alaska Airlines, the Alaska Airlines Visa Business card can give you access to Alaska Companion Fare once a year. On the anniversary of opening your account, you will receive a companion fare starting at $121 ($99 plus taxes and fees). That, in itself, can be worth the $50 annual fee for the company (plus $25 per card). Alaska also allows you to transfer miles to its airline partners which increases the flexibility and number of destinations at your disposal for 2019.

Pros:

  • 40,000 bonus miles when you make $2,000 or more in purchases in the first 90 days.
  • The Companion Fare starts at $121 ($99 plus taxes and fees).
  • You get a free checked bag on Alaska flights for you and up to six other passengers.
  • No foreign transaction fees.

Cons:

  • There are business travel cards offering higher rewards rates.
  • If you require multiple cards for authorized users it could get expensive at $25 per card.

What is Bank of America?

Bank of America (often abbreviated to BofA) is the second biggest full-service bank in the U.S. (by total assets). It has both retail banking and corporate banking operations across the United States and in more than 35 countries. The Bank was the first to offer a licensed general-purpose credit card with the BankAmericard in 1966. BofA is well-known for its credit card line up, which covers the spectrum from great cash back, travel and business cards. Aside from credit cards, Bank of America offers a multitude of services from mortgages to car loans to checking, savings and brokerage accounts.

Why choose Bank of America?

Bank of America credit card perks vary depending on the card you choose, but there are a lot of lesser-known benefits for Bank of America cardholders. Take, for example, Museums on Us, which offers free museum visits for more than 200 U.S. museums on the first full weekend on each month, $0 liability coverage if your card is ever lost or stolen, access FICO score and mobile banking.

Bank of America credit cards are really a great choice for existing Bank of America clients. If you deposit your credit card rewards into a Bank of America checking or savings account in 2019, you will receive a 10% boost on what you’ve earned. With both banking and credit accounts through Bank of America, you can also take advantage of the simplicity of having all of your financial accounts available from one app.

Bank of America Preferred Rewards

Bank of America’s Preferred Rewards program takes a lot of their services – including credit cards – from good to great. There are three tiers of Preferred Rewards, and your tier is calculated using your combined balances in your Bank of America banking and/or your Merrill accounts. You need to enroll in the program, but once you do, you will automatically be moved up as your balances grow.

This is another instance when using Bank of America for both your checking and saving needs can help you maximize the value you get from their services. When you use Bank of America Preferred Rewards, you can boost your rewards bonus that you earn on your BoA credit cards, qualify for auto loan and home equity discounts, take advantage of an interest rate booster for saving accounts and so much more.

Here is a simple breakdown of how each tier can help you earn more with your BoA credit card:

Gold Preferred Rewards

Gold Preferred Rewards requires a balance of $20,000 – $50,000 (it’s calculated as a three-month average on combined balances). If you qualify for Gold, you get a 25% rewards bonus on eligible Bank of America credit cards, as well as other banking benefits for 2019.

Platinum Preferred Rewards

Platinum Preferred Rewards requires a balance of $50,000 to $100,000 and gives you a 50% boost on your rewards with eligible Bank of America credit cards. Additionally, you’ll receive a host of other benefits, such as increased savings rates and reduce mortgage origination fee.

Platinum Honors Rewards

Platinum Honors Rewards clients have a three-month average combined balance of over $100,000 and qualify for a huge 75% rewards bonus on eligible Bank of America credit cards.

If you are a Preferred Rewards client, make sure to factor the rewards bonus into your analysis of their credit card offers, as they can really improve your 2019 returns.

Choosing the right Bank of America credit card

There are so many different types of credit cards to choose from, and Bank of America covers them all. It’s important to have a firm understanding of what you’re looking for from your credit card in 2019. Here are a few things you should consider before applying for your new credit card:

Your financial goals and personal spending habits

There is no “one size fits all” credit card. Determining which card will offer you the most value comes down to your goals and spending habits. If one of your 2019 resolutions is to travel more, one of Bank of America’s travel rewards cards might be a good fit for you. If you’re looking to consolidate debt, look for the card with the best balance transfer offer.

It’s also important to understand your spending habits because certain cards within a category might offer bonus rewards for certain expenses. Knowing which categories you spend the most in each month will help you choose a card that will earn the most rewards.

Perks and benefits

A good credit card should give you benefits that are easy to use and a rewards system that works best for you. For instance, frequent travelers will find the most value out of a travel-focused rewards card that offers perks such as travel statement credits, lounge access and trip insurance; busy families, however, might like the simplicity of a flat-rate cash back card with features like extended warranty and purchase protection.

Sign-up bonuses

Many cards offer a sign-up bonus after you hit certain spending requirements. Generous sign-up bonuses can turn an average card into a great one depending on the value of the bonus. Just because a card has a large sign-up bonus, however, does not mean that it’s automatically a better card for you. For example, the Alaska Airlines Visa Signature card offers 40,000 bonus miles after making purchases of $2,000 or more in the first 90 days of account opening, but that may not be of much value if you don’t travel often.

When looking at sign-up bonuses, it’s important to note whether you can realistically hit the minimum spend requirements to receive the bonus. If you have a smaller budget, a smaller sign-up bonus might be worth it if you have to spend less money on the card to get it.

APR

If you ever plan on carrying a balance on your credit card, APR is extremely important because it determines how much interest you pay each month. Variable APRs differ from card to card but usually fall between 17 and 30 percent based on creditworthiness. Some cards also offer a 0% APR period when you first sign up for the card, which can help you pay off larger expenses such as appliances over time without paying interest.

 

Bottom line: There’s a Bank of America card for everyone, so long as you know what you’re looking for.


Senior Editor Barry Bridges has been writing about credit cards, personal loans, mortgages and other personal finance products since 2017. Before joining Bankrate, he was an award-winning newspaper journalist in his native North Carolina. Send your questions about credit cards (and fantasy baseball) to bbridges@bankrate.com.

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Editorial Disclosure: Opinions expressed here are the author’s alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.