Bank of America® Unlimited Cash Rewards Credit Card for Students review: A strong first for rewards
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Snapshot
3.9
Bottom line
The Bank of America® Unlimited Cash Rewards Credit Card for Students is an excellent choice for students seeking to earn cash back, save on interest and adequately manage their money using this card's financial management resources.
Intro offer
$200
Rewards rate
1.5%
Annual fee
$0
Regular APR
18.24% - 28.24% Variable APR on purchases and balance transfers
3.9
Bankrate score
Introductory offer
Fees
Rewards value
Features
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Bank of America® Unlimited Cash Rewards Credit Card for Students overview
An excellent rewards rate and a solid introductory APR offer make the Bank of America® Unlimited Cash Rewards Credit Card for Students a standout choice for students seeking a straightforward, low-cost way to earn rewards. The card has no annual fee and includes a generous cash rewards welcome bonus, along with access to financial education tools that can help you learn how to build credit.
That said, while the Bank of America Unlimited Cash Rewards Credit Card for Students is a smart choice if you are looking for a cash rewards card that is simple to use, its lack of student-oriented benefits and limited cash back earning potential in specific spending categories are minor drawbacks. Although the Bank of America Unlimited Cash Rewards credit card for students is a solid option for those prioritizing their credit score over maximizing rewards, it may not be the most rewarding cash rewards card for students currently available.
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Rewards
- Unlimited 1.5 percent cash back on all purchases
Expert Appraisal: Unimpressive
See our expert analysis -
Welcome offer
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
Expert Appraisal: Typical
See our expert analysis -
0% intro APR offer
- 0% Intro APR for 15 billing cycles for purchases
- 0% Intro APR for 15 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
- 18.24% - 28.24% Variable APR on purchases and balance transfers
Expert Appraisal: Good
See our expert analysis -
Rates and fees
- Annual fee: $0
- Cash advance fee: 4 percent of the amount of each advance
- Foreign transaction fee: 3 percent of the amount of each transaction
- Late payment fee: Up to $40
Expert Appraisal: Typical
See our expert analysis - Annual fee: $0
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Other cardholder perks
- Better Money Habits
- Free access to your FICO score
Expert Appraisal: Unimpressive
See our expert analysis
Bank of America® Unlimited Cash Rewards Credit Card for Students pros and cons
Pros
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The $200 online cash rewards bonus offer (after spending $1,000 in the first 90 days) is relatively attainable compared to some student cash rewards programs.
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Intro APR on purchases and balance transfers can offer much-needed flexibility for college students looking to save money on interest.
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Students have free access to financial education tools and their FICO scores, which is beneficial for learning how to build credit.
Cons
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The rewards rate isn't the most competitive compared to other student credit cards that offer rotating cash back or a boosted rate on reward categories.
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A 3 percent foreign transaction fee limits the card’s appeal for students planning to travel or study abroad.
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There aren't any cardholder perks that boost its value compared to other student rewards cards.
Why you might want the Bank of America® Unlimited Cash Rewards Credit Card for Students
You’ll want this card if you’re looking for a decent welcome offer and an introductory APR period for purchases and balance transfers. The intro APR can assist you in managing any debt you may hold from another card or new debt you plan to take on from new purchases — such as dorm room essentials or much-needed textbooks.
Welcome offer: Fair value for a modest spending requirement
The Unlimited Cash Rewards Credit Card for Students offers a one-time welcome bonus of $200 in online cash back rewards after you spend $1,000 on purchases within 90 days of opening a new account. The anticipated cost of $1,000 for three months of purchases comes to roughly $333.33 per month, making it a very reasonable offer that is easily achievable for students via spending on everyday purchases.
Intro APR: Decent length for purchases and balance transfers
This card offers a solid introductory APR, making it an excellent choice for students who already have a credit card with a balance to transfer. You can often save a significant amount of money with introductory APR offers on balance transfers, as you'll temporarily avoid interest while paying down your debt. Few student credit cards provide offers like this, which helps this card stand out from other options.
Why you might want a different student card
You may be better off with a different student card if you're looking to maximize rewards and enjoy decent cardholder perks, as you can only earn low, flat-rate rewards with this card, and there are no standout perks available. It's also wise to explore other options if you plan to study abroad, as this card charges a foreign transaction fee, which can accumulate significantly for international purchases.
Rewards: Similar cards offer better rewards rates
While the Bank of America Unlimited Cash Rewards Credit Card for Students provides a solid flat rewards rate on all purchases, it may not be the most impressive option for students seeking to maximize their rewards potential. Comparatively, the Discover it® Student Cash Back credit card offers a more lucrative rewards rate with rotating bonus categories that can earn 5 percent cash back when enrolled, on up to $1,500 in purchases (1% thereafter) and a first-year welcome offer where all rewards earned are matched. This can result in significantly higher rewards earnings compared to the flat rewards rate offered by this card. Students looking to earn more rewards on specific spending categories may find the Discover it Student Cash Back to be a more rewarding option.
Rates and fees: No annual fee, but there is a foreign transaction fee
You won't pay an annual fee for this card, but there is a 3 percent foreign transaction fee on any purchases made in a foreign currency, which is an unfortunate downside for a student card if you’re planning to travel or study abroad for an extended period. This card may not be the best choice, as you’ll end up paying more for purchases abroad than you would earn in rewards.
A 3 percent foreign transaction fee may seem low, but these charges accumulate over time — and they’re also unnecessary. You can easily avoid these fees for international purchases by obtaining a credit card that doesn’t charge foreign transaction fees. The Discover it® Student Cash Back card does not charge foreign transaction fees and offers a much more generous rewards rate for eligible purchases.
Perks: Lacks cardholder perks
While the Bank of America Unlimited Cash Rewards Credit Card for Students provides credit-building benefits such as access to Better Money Habits, it may not present the most impressive array of cardholder perks compared to other student credit cards. In comparison, the Capital One student cards (Savor Rewards and Quicksilver Rewards) offer a better selection of valuable cardholder perks, including travel accident insurance and extended warranty, which could be very useful for students on the go.
These additional perks are slightly more extensive than those of the Bank of America® Unlimited Cash Rewards Credit Card for Students. Students looking for a credit card with a broader selection of cardholder benefits may find the student cards from Capital One to be appealing.
How the Bank of America Unlimited Cash Rewards Student Card compares to other student credit cards
The Bank of America Unlimited Cash Rewards card compares well with just about any student credit card, but it’s not without its flaws. A handful of other options have rewards programs that might fit your spending habits more closely, or come with more flexible rewards redemption options.

Annual fee
Intro offer
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
Rewards rate
Earn unlimited 1.5% cash back on all purchases.
Recommended Credit Score
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.

Annual fee
Intro offer
Intro Offer: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. So you could turn $50 cash back into $100. Or turn $100 cash back into $200.
Rewards rate
Earn 5% Cashback Bonus® at Grocery Stores and Wholesale Clubs, April 1 through June 30, 2025, on up to $1,500 in purchases, when you activate. Earn unlimited 1% cash back on all other purchases - automatically.
Recommended Credit Score
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.

Annual fee
Intro offer
Early Spend Bonus: Earn $50 when you spend $100 in the first three months
Rewards rate
Earn unlimited 1.5% cash back on every purchase, every day. Earn 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply).
Recommended Credit Score
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.
Bankrate’s Take — Is the Bank of America® Unlimited Cash Rewards Credit Card for Students worth it?
The Bank of America® Unlimited Cash Rewards Credit Card for Students is an excellent choice for students looking for a credit card that makes earning unlimited 1.5 percent cash back on all purchases simple to understand and easy to attain. However, many other student credit cards offer more lucrative rewards, and the perks of these cards may be more beneficial to some students, depending on their circumstances. This card may not yield as much cash back as other premium student cards, but we believe it’s still a valuable option for college students and can serve its purpose for credit building.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Frequently asked questions
How we rated this card
Our proprietary card rating system takes into account a mix of factors when scoring credit cards for students and people building credit, including each card’s cost, APR, credit-building tools and more.
We analyzed over 50 of the most popular cards designed for students and people with no credit history, bad credit or a fair credit score and scored each based on where its key features stood in relation to others in its category.
Here are some of the key factors that gave this card its score:
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
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.