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Best Bank of America® credit cards for June 2024

Updated May 13, 2024

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Bank of America has a variety of high-value credit cards that offer everything from cash back to travel rewards. Here’s what you need to know about Bank of America’s best card offerings, who these cards may be best for and break down why these are our top picks for the best cards available from our credit card partner, Bank of America.

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Best for travel beginners
Rating: 4.1 stars out of 5
4.1
Info
Apply now Lock
on Bank of America's secure site
Good to Excellent (670 – 850)
Info
Recommended Credit

25,000 points

Intro offer

Info

$250

Offer valuation

Info

1.5X

Rewards rate

Info

$0

Annual fee

19.24% - 29.24% Variable APR on purchases and balance transfers

Regular APR

Best for category variety
Rating: 4.3 stars out of 5
4.3
Info
Apply now Lock
on Bank of America's secure site
Good to Excellent (670 – 850)
Info
Recommended Credit

$200

Intro offer

Info

1% - 3%

Rewards rate

Info

$0

Annual fee

19.24% - 29.24% Variable APR on purchases and balance transfers

Regular APR

Best for savers
Rating: 4.3 stars out of 5
4.3
Info
Apply now Lock
on Bank of America's secure site
Good to Excellent (670 – 850)
Info
Recommended Credit

60,000 points

Intro offer

Info

$600

Offer valuation

Info

1.5X - 2X

Rewards rate

Info

$95

Annual fee

21.24% - 29.24% Variable APR on purchases and balance transfers

Regular APR

Best for cash back
Rating: 3.8 stars out of 5
3.8
Info
Apply now Lock
on Bank of America's secure site
Good to Excellent (670 – 850)
Info
Recommended Credit

$200

Intro offer

Info

1.5%

Rewards rate

Info

$0

Annual fee

19.24% - 29.24% Variable APR on purchases and balance transfers

Regular APR

Best for Alaska Airlines perks
Rating: 4.5 stars out of 5
4.5
Info
Apply now Lock
on Bank of America's secure site
Good to Excellent (670 – 850)
Info
Recommended Credit

60,000 bonus miles

Intro offer

Info

$660

Offer valuation

Info

1 mile - 3 miles

Rewards rate

Info

$95

Annual fee

20.24% - 28.24% Variable APR on purchases and balance transfers

Regular APR

Best for students
Rating: 4.2 stars out of 5
4.2
Info
Apply now Lock
on Bank of America's secure site
Good to Excellent (670 – 850)
Info
Recommended Credit

25,000 points

Intro offer

Info

1.5X

Rewards Rate

Info

$0

Annual fee

19.24% - 29.24% Variable APR on purchases and balance transfers

Regular APR

Best for balance transfers
Image of BankAmericard® credit card

BankAmericard® credit card

*
Rating: 4.8 stars out of 5
4.8
Info
Good to Excellent (670 – 850)
Info
Recommended Credit

0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A fee of 3% for 60 days from account opening, then 4% will apply.

Balance transfer intro APR

16.24% - 26.24% Variable APR on purchases and balance transfers

Regular APR

N/A

Rewards rate

Info

$0

Annual fee

* The information about the Bank of America® Customized Cash Rewards Credit Card for Students has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Compare Bankrate's best Bank of America credit cards

Card Name Our pick for APR Bankrate Review Score

Travel experiences

Regular APR: 19.24% - 29.24% Variable APR on purchases and balance transfers

4.1 / 5

Info
(Read card review)
Apply now Lock
on Bank of America's secure site

Customizable category 

Regular APR: 19.24% - 29.24% Variable APR on purchases and balance transfers

4.3 / 5

Info
(Read card review)
Apply now Lock
on Bank of America's secure site

Best Bank of America travel card

Regular APR: 21.24% - 29.24% Variable APR on purchases and balance transfers

4.3 / 5

Info
(Read card review)
Apply now Lock
on Bank of America's secure site

Cash back 

Regular APR: 19.24% - 29.24% Variable APR on purchases and balance transfers

3.8 / 5

Info
(Read card review)
Apply now Lock
on Bank of America's secure site

Alaska Airlines perks

Regular APR: 20.24% - 28.24% Variable APR on purchases and balance transfers

4.5 / 5

Info
(Read card review)
Apply now Lock
on Bank of America's secure site

Students

Regular APR: 19.24% - 29.24% Variable APR on purchases and balance transfers

4.2 / 5

Info
(Read card review)
Apply now Lock
on Bank of America's secure site
Image of BankAmericard® credit card
BankAmericard® credit card

Balance transfers

Regular APR: 16.24% - 26.24% Variable APR on purchases and balance transfers

Types of Bank of America credit cards

The most popular types of credit cards from Bank of America are travel credit cards, cash back credit cards and business credit cards. Bank of America offers an array of options in these categories, and a lot of those options are fairly competitive in the cards landscape.

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Bankrate’s take: Bank of America tied with Discover for second place in J.D. Power’s 2023 U.S. Credit Card Satisfaction Study. Plus, many of its cards made it on J.D. Power’s lists of best credit cards.

Bank of America credit card pros and cons

Pros

  • Checkmark

    Preferred Rewards: Bank of America’s Preferred Rewards Program can boost your rewards earning rates by up to 75 percent depending on your membership tier.

  • Checkmark

    No or low annual fees: Most Bank of America cards either have no annual fees or low annual fees, making them an affordable addition to your wallet.

Cons

  • High credit score barrier of entry: Many Bank of America cards recommend applicants have at least good credit to apply (a minimum of a 670 on the FICO scale).

  • Middle-ground welcome bonuses: Though the welcome offers on Bank of America cards are rather easy to attain, they are not often as lucrative as what you could get on more premier cards from other issuers.

Our data: What credit score do you need for a Bank of America card?

Your credit score plays a significant role in determining your approval odds for the best credit cards, as it reflects your creditworthiness and ability to manage credit responsibly. 

We looked at Bankrate proprietary data to see what types of user applied for Bank of America credit cards on our site in 2023. We found that more users with excellent credit were approved for Bank of America cards on our pages than users with good or fair credit scores.

For example, out of all the Bankrate readers approved for the BankAmericard in 2023, 79 percent had good or excellent credit (48 percent with excellent credit, 36 percent with good credit). It makes sense, then, that while it’s possible to get approved for this card without the very best credit score, Bank of America lists a good or excellent credit score as needed for approval.

The same holds true for another popular card, the Bank of America Customized Cash Rewards card. Based on Bankrate’s data a whopping 84 percent of approved applicants had good or excellent credit (48 percent had excellent credit, 36 percent had good credit. For the Bank of America Travel Rewards card, 79 percent of approved applicants had excellent credit, while only 21 percent had good credit.

As you can see — and as our data shows —  top-tier credit cards often have stringent approval requirements, with a strong emphasis on a high credit score for eligibility. While this doesn’t mean you’re guaranteed to get approved with a credit score is greater than 800, your chances are far better.

Not sure what your approval odds are? Bankrate’s CardMatch tool can give you recommendations based on your profile to help you find credit cards you have the highest chance of qualifying for.

Bank of America Preferred Rewards program

The Bank of America Preferred Rewards program rewards Bank of America customers for their loyalty and banking relationships. By enrolling in the Preferred Rewards program, eligible Bank of America customers can receive various benefits and perks based on their combined balances across Bank of America deposit and investment accounts. Here are some key details about the Bank of America Preferred Rewards program:

Bank of America Preferred Rewards program benefits

  • Increased rewards: One of the key benefits of the Preferred Rewards program is the opportunity to earn additional rewards on Bank of America credit cards. Depending on the tier (Gold, Platinum, or Platinum Honors) and the type of credit card, clients can receive bonuses ranging from 25 percent to 75 percent on all eligible credit card rewards.
  • Interest rate boost: Another advantage of the program is the potential to earn a higher interest rate on savings accounts and certificates of deposit (CDs). Clients in the Preferred Rewards program can enjoy a boost in interest rates, helping their savings grow faster.
  • Discounts and benefits: Preferred Rewards members may also be eligible for discounts on certain Bank of America products and services, such as mortgage origination fees and safe deposit box rentals. Additionally, clients can receive special offers and benefits based on their Preferred Rewards status.
  • Waived fees: Depending on the tier in the Preferred Rewards program, clients may have certain fees waived, such as fees for insufficient funds, check orders or non-Bank of America ATM transactions. This can save money for people who frequently use these services.

Bank of America Preferred Rewards tiers

The Bank of America Preferred Rewards program offers various benefits for people who maintain qualifying account balances, including enhanced rewards. Here are Bank of America’s program tiers and the credit card rewards boost you can get.

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To qualify for the Gold tier in the Preferred Rewards program and get a 25 percent boost to your credit card rewards rates, you need to maintain a combined balance of $20,000 to $49,999 across eligible accounts.*

Eligible Bank of America Card Base Rewards Rate With Gold Tier Boost
Bank of America® Customized Cash Rewards 3% in an eligible category of choice**, 2% in grocery stores and wholesale clubs** and 1% for other eligible purchases 3.75% in an eligible category of choice**, 2.5% in dining** and 1.25% for other eligible purchases
Bank of America® Unlimited Cash Rewards Unlimited 1.5% cash back on all purchases Unlimited 1.875% cash back on all purchases
Bank of America® Premium Rewards® 2X points on travel and dining, 1X points on general purchases 2.5X points on travel and dining, 1.25X points on general purchases

Maintaining a three-month combined balance of $20,000 to $49,999 across eligible accounts qualifies you for the Platinum tier and a 50 percent rewards bonus on personal Bank of America credit card rewards rates.*

Eligible Bank of America Card Base Rewards Rate With Platinum Tier Boost
Bank of America® Customized Cash Rewards 3% in an eligible category of choice**, 2% in grocery stores and wholesale clubs** and 1% for other eligible purchases 4.5% in an eligible category of choice**, 3% in dining** and 1.5% for other eligible purchases
Bank of America® Unlimited Cash Rewards Unlimited 1.5% cash back on all purchases Unlimited 2.25% cash back on all purchases
Bank of America® Premium Rewards® 2X points on travel and dining, 1X points on general purchases 3X points on travel and dining, 1.5X points on general purchases

The Platinum Honors tier requires maintaining a three-month combined balance of $100,000 to $1 million across qualifying accounts for a 75 percent boost to credit card rewards rates.*

Eligible Bank of America Card Base Rewards Rate With Platinum Honors Tier Boost
Bank of America® Customized Cash Rewards 3% in an eligible category of choice**, 2% in grocery stores and wholesale clubs** and 1% for other eligible purchases Unlimited 1.5% cash back on all purchases 3.25% in an eligible category of choice**, 3.5% in dining** and 1.75% for other eligible purchases Unlimited 2.625% cash back on all purchases
Bank of America® Unlimited Cash Rewards Unlimited 1.5% cash back on all purchases Unlimited 2.625% cash back on all purchases
Bank of America® Premium Rewards® 2X points on travel and dining, 1X points on general purchases 3.5X points on travel and dining, 1.75X points on general purchases

As the highest rewards level of the Preferred Rewards program, the Diamond tier requires a combined balance of $1 million or more in qualifying accounts for the same 75 percent boost to rewards rates that you get with the Platinum Honors tier.

Eligible Bank of America Card Base Rewards Rate With Diamond Tier Boost
Bank of America® Customized Cash Rewards 3% in an eligible category of choice**, 2% in grocery stores and wholesale clubs** and 1% for other eligible purchases 3.25% in an eligible category of choice**, 3.5% in dining** and 1.75% for other eligible purchases
Bank of America® Unlimited Cash Rewards Unlimited 1.5% cash back on all purchases Unlimited 2.625% cash back on all purchases
Bank of America® Premium Rewards® 2X points on travel and dining, 1X points on general purchases 3.5X points on travel and dining, 1.75X points on general purchases

*Based on a three-month combined average daily balance in qualifying Bank of America deposit accounts and/or Merrill® investment accounts

**Categories eligible for 3 percent back include gas and EV charging stations; online shopping, including cable, internet, phone plans and streaming; dining; travel; drug stores and pharmacies; or home improvement and furnishings. Earn 3 percent and 2 percent cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1 percent.

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Bankrate’s take: In the U.S., the mean value of transaction accounts — which include checking, savings and money market accounts — is $8,000, according to the Federal Reserve’s latest report on family finances. While this isn’t enough to qualify for the Gold tier, investment accounts you have with Merrill may also count toward your overall balances.

Expert advice for Bank of America cards

Check out ways you can maximize your Bank of America credit card and prevent common mistakes.

Still unsure if a Bank of America credit card is right for you? Check out our Credit Card Spender Type Tool to get personalized credit card recommendations based on your credit score, spending habits and daily needs.

Here’s how this Bankrate expert uses his Bank of America cards

When on the search for a new credit card, Bankrate writer Ryan Flanigan turned to Bank of America for its exceptional rewards program and top-notch credit cards. With a keen eye for maximizing benefits, Ryan chose Bank of America credit cards that aligned perfectly with his spending habits and financial goals. 

"Bank of America gave me excellent incentives to apply for its credit cards. My Premium Rewards and Customized Cash cards earn great rates on purchases and work well as a tandem. I will always maximize the flexible bonus category limits on my Customized Cash, and use my Premium Rewards to cover most other purchases. My Premium Rewards also gives me solid credits every year and is my primary card when traveling abroad.

To sweeten the deal, by moving my savings to Bank of America, I was able to qualify for elevated status in the Preferred Rewards program, which raised the earning rates on my cards even further. With these higher rates, one of these two cards is almost always the best choice for my everyday spending."

— Ryan Flanigan, Writer, Credit Cards

Tips for maximizing a Bank of America card

Whether you carry a Bank of America business card or travel rewards card, here are some tips on getting the most out of your card. 

  • Earn the sign-up bonus: Many Bank of America cards come with a welcome offer with a spending requirement that you must meet in a certain time. Whatever the requirements, make sure you meet the conditions without overspending so that you can benefit from the card's increased first-year value.  
  • Optimize rewards: If your Bank of America card comes with rewards, strategize your spending to match its rewards structure. For instance, with the Customized Cash Rewards card, update your bonus category if you anticipate a change in your spending habits in the coming month. Or if your card gets bonus cash back for dining, don't forget to use this card anytime you eat out or order in. 

Verify Preferred Rewards membership: Bank of America deposit account holders may qualify for its Preferred Rewards program if they maintain a certain balance across their accounts. If you qualify for a Preferred Rewards tier, make sure you’re receiving its boosted rewards rates.

  • Don't accumulate interest or late fees: Even if your APR is relatively low, you should still pay your balance in full each billing cycle. Interest charges can add up and a high credit utilization ratio can hurt your credit score. Also, most Bank of America cards come with a penalty APR and late fee charge for missed payments.
  • Offset your annual fee: For Bank of America rewards cards that carry an annual fee, offset the yearly cost with the card's rewards and perks, if any. Otherwise, the annual fee may eat into your rewards earnings.
  • Keep your credit utilization ratio low: To maintain good credit, your credit utilization ratio should generally be below 30 percent. It's also a good idea to know your card's credit limit so you don't unintentionally max out your card. You can use Bankrate's credit utilization calculator to help figure out your ratio.

Are Bank of America cards worth it?

With Bank of America's variety of cards, it’s likely anyone can find a card that benefits them. However, before deciding which Bank of America credit card is right for you, you’ll need to know whether your primary goal is building credit, avoiding interest or earning rewards. But once you’ve narrowed down your options, a Bank of America card could be a terrific option to help you with your financial goals.

How we assess the best Bank of America credit cards

Document
250+
cards rated
Congrats
50+
rewards programs valued
Search
5000
data points analyzed
Credit Card Reviews
40+
perks evaluated

When evaluating the best credit cards, we take into account several factors, including how cards score in our proprietary card rating system and whether they offer features that fit the priorities of a diverse group of cardholders, from earning rewards to scoring a large sign-up bonus to saving on interest. 

We analyzed over 250 of the most popular credit cards and selected standouts. We scored each card based on the factors most relevant to its primary category, including its rewards rate, estimated annual earnings, intro APR period, ongoing APR, perks and more to determine whether it belonged in this month’s roundup. 

Here are some of the key factors that we considered:  

Have more questions for our credit cards editors? Feel free to send us an email, find us on Facebook, or Tweet us @Bankrate.

Frequently asked questions about Bank of America credit cards