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Best Bank of America® credit cards for February 2024

Updated February 07, 2024

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.

Best for qualifying travel purchases

Bank of America® Travel Rewards credit card

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

Intro offer

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$250

Offer valuation

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1.5X

Rewards rate

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Annual fee

Regular APR

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2024 Bankrate Awards Winner
Best for choice of rewards category

Bank of America® Customized Cash Rewards credit card

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)
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Recommended Credit
Info

Intro offer

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1% - 3%

Rewards rate

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Annual fee

Regular APR

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BEST FOR SAVERS

Bank of America® Premium Rewards® credit card

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
Info

Intro offer

Info

$600

Offer valuation

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1.5X - 2X

Rewards rate

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Annual fee

Regular APR

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Best for cash back

Bank of America® Unlimited Cash Rewards credit card

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
Info

Intro offer

Info

1.5%

Rewards rate

Info

Annual fee

Regular APR

Best for Alaska Airlines benefits

Alaska Airlines Visa® credit card

Rating: 4.7 stars out of 5
4.7
Info
Apply now Lock
on Bank of America's secure site
Good to Excellent (670 – 850)
Info
Recommended Credit

Intro offer

Info

$770

Offer valuation

Info

1X - 3X

Rewards rate

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Annual fee

Regular APR

A closer look at our top Bank of America cards

Bank of America Travel Rewards credit card: Best for qualifying travel purchases

  • What we love about this card: Cardholders will earn rewards for various travel purchases. The card also forgoes an annual fee, keeping costs low.
  • Who is this card good for: Travelers who value flexibility and versatility in their travel card. Get rewarded for purchases at art galleries, zoos, campgrounds and more with this card.
  • Alternatives: This Bank of America travel card does offer flexibility in terms of what you can redeem for travel, but if flexibility means being able to redeem rewards for cash back, you might be better off with the Discover it® Miles.

Read our full Bank of America Travel Rewards review or jump back to offer details.

Bank of America Customized Cash Rewards credit card: Best for choice of rewards category

  • What we love about this card: The control the card gives consumers over their own earning potential.
  • Who is this card good for: People who prioritize flexibility but still want rewards. Cardholders will earn an elevated cash back rate in the category of their choice.
  • Alternatives: If you want the same level of flexibility with less work on your part, the Citi Custom Cash® Card  is a notable alternative. Cardholders earn elevated rewards in their highest eligible spending category each billing cycle, but they won’t need to enroll in new categories each month. Citi will make the adjustments automatically.

Read our full Bank of America Customized Cash Rewards credit card review or jump back to offer details.

Bank of America Business Advantage Customized Cash Rewards Mastercard credit card: Best Bank of America business card

  • What we love about this card: Flexibility. This card provides business owners with flexible options to earn rewards in several categories and allows for redemption in multiple ways.
  • Who is this card good for: Business owners who spend heavily in categories like travel and office supplies. If your business expenses fall in line with any of the Bank of America Business Advantage categories and you’re looking to cash in on potential rewards, you’ll see a lot of benefits in this card.
  • Alternatives: You’ll get many of the same benefits and features with the American Express Blue Business Cash™ Card. The Blue Business Cash touts a slightly longer introductory APR period, but the rewards structure and welcome offer of the Business Advantage Customized Cash card are a bit more lucrative.

Read our full Bank of America Business Advantage Customized Cash Rewards Mastercard credit card review or jump back to offer details.

Bank of America Premium Rewards credit card: Best Bank of America travel card

  • What we love about this card: This card ups your earning potential by offering the highest rewards rate on both travel and dining purchases.
  • Who is this card good for: Customers with big savings accounts who can maximize the boosted rewards rates in the Bank of America Preferred Rewards® program.
  • Alternatives: The Chase Sapphire Preferred® Card provides a reasonable alternative to the Bank of America Premium Rewards card. With the Sapphire Preferred you’ll get many of the same travel perks and protections for the same annual fee.

Read our full Bank of America Premium Rewards credit card review or jump back to offer details.

Bank of America Unlimited Cash Rewards credit card: Best for cash back

  • What we love about this card: It is one of Bank of America’s simplest cash back credit card offerings. Cardholders get a straightforward 1.5 percent cash back rate on all purchases.
  • Who is this card good for: Cash back newbies. If you’re new to the world of cash back rewards cards, this card is an accessible option with a straight-forward rewards structure.
  • Alternatives: If you’re searching for another way to dive into the world of cash back, the Chase Freedom Unlimited® card is an alternative. It not only earns the same 1.5 percent cash back rate on general purchases, but also earns 5 percent cash back on travel through Chase Ultimate Rewards and 3 percent cash back at restaurants and drugstores.

Read our full Bank of America Unlimited Cash Rewards credit card review or jump back to offer details.

Alaska Airlines Visa credit card: Best for Alaska Airlines benefits

  • What we love about this card: It has all the features you’d look for as a frequent flyer with Alaskan Airlines. Benefits include a free checked bag for you and up to six companions on the same reservation, discounts on inflight purchases and a generous sign-up bonus.
  • Who is this card good for: Alaska Airlines loyalists who travel with a companion. Flyers who can make use of the Alaska Airlines’ companion pass can get a ton of value from the card. 
  • Alternatives: If you want a travel card with maximum flexibility, the Alaska Airlines Visa may not be the right choice. However, the Chase Sapphire Preferred touts a generous sign-up bonus and access to an extensive list of travel partners in the Chase Ultimate Rewards portal. The Sapphire Preferred does miss the mark on some standard features — like free checked bags — that you’ll get with the Alaska Airlines Visa credit card.

Read our full Alaska Airlines Visa credit card review or jump back to offer details.

BankAmericard credit card: Best for balance transfers

  • What we love about this card: It’s one of the more lengthy balance transfer cards available.
  • Who is this card good for: People who only want to do a balance transfer with few added distractions. Cardholders will see a lengthy (though temporary) break from interest charges on qualifying balance transfers.
  • Alternatives: If you're searching for a balance transfer card but still want to earn rewards, the Citi Double Cash® Card is a good choice to consider. Its unique earning structure also encourages consumers to pay off their balances regularly, since you get 1 percent back when you buy and 1 percent back when you pay off your purchase.

*The information about the BankAmericard® credit card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Read our full BankAmericard credit card review .

 


What to know about Bank of America credit cards

Bank of America is the second largest full-service bank in the U.S. and operates in more than 35 countries.

Bank of America was the first U.S. bank to offer a general-purpose credit card with the BankAmericard, released in 1958. In addition to credit cards, Bank of America also offers other financial services, including mortgages, car loans, checking and savings accounts and investments through Merrill Lynch.

When it comes to credit cards, Bank of America is generally well-regarded by its customers. The issuer ranks in the top two among national issuers according to the J.D. Power 2023 credit card satisfaction survey. Satisfaction ratings for Bank of America have increased in recent years, and this increase may be due to some unique benefits of holding its cards, most notably the Preferred Rewards Program.

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.

Bank of America credit card pros and cons

Pros

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    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.

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    No or low annual fees: Most Bank of America cards either have no annual fee 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.

Tips on choosing the best Bank of America card

It’s important to have a firm understanding of what you want from your credit card. The type of card that works best for you depends on your goals and financial situation. Bank of America cardholders might include cash back strategists looking to maximize their spending, frequent travelers who can enjoy perks like statement credits for baggage fees or airport screenings and debt managers who can take advantage of intro APRs for balance transfers to help consolidate debt on other cards.  

And if you're a Preferred Rewards member, you can enjoy boosted rates on your Bank of America card. Preferred Rewards members hold checking and/or savings accounts with Bank of America, and their combined balance meets minimums to achieve Gold, Platinum, Platinum Honors or Diamond Tier status. If you reach the highest tier, the rewards rate on your card could be worth 75 percent more.

To help decide which card might fit your aims, here are a few questions to ask yourself:

What are 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 travel is an important part of your life and you want to earn rewards, one of Bank of America’s travel rewards cards might be a good fit for you. If you’re interested in managing high-interest debt, look for the best offer for doing a balance transfer with Bank of America.

It’s also important to understand your spending habits, because certain cards 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.

What are the perks and benefits?

A good credit card should offer benefits that are easy to use and a rewards system that works best for you. For instance, frequent travelers will find the most value with a travel-focused rewards card that offers perks such as travel statement credits, lounge access and trip insurance. Everyday shoppers might like the simplicity of a flat-rate cash back card, and some might prefer the flexibility of rewards and cash back cards that have rotating or custom categories. 

Can I qualify for the sign-up bonuses?

Many cards offer a sign-up bonus after you hit certain spending requirements. Just because a card has a large sign-up bonus, however, does not mean that it’s automatically a better card for you.

When looking at sign-up bonuses, it’s also important to note whether you can realistically hit the minimum spending requirement. If you have a smaller budget, a card with a smaller sign-up bonus might be easier to qualify for.

Bank of America cards typically have sign-up bonuses that require the cardholder to spend moderately. They aren’t the most easily-obtained sign-up bonuses, but they also don’t require you to spend the most. You should opt for a card with a sign-up bonus you can definitely obtain — as long as its rewards rates and categories match your regular spending habits.

Are you going to carry a balance?

If you ever plan on carrying a balance on your credit card, APR (annual percentage rate) is extremely important because it determines how much interest you pay. Variable APRs differ from card to card but usually fall between 17 and 30 percent based on creditworthiness. Some cards also offer an introductory APR period when you first sign up for the card, which can help you pay off large expenses with a temporary break from paying interest.

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

Expert advice for Bank of America cards

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

Maximize your 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. 

  • Attain the sign-up bonus. Many Bank of America cards come with a welcome offer with a spend requirement that must be met within a certain timeframe. 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 certain that you are receiving its boosted rewards rates. 

Avoid Bank of America card pitfalls

While it can be advantageous to carry a Bank of America card, keep in mind these common pitfalls to avoid credit card debt and maintain your credit.

  • Don't accumulate interest or late fees. Even if your APR is low, you should still pay your balance in full each billing cycle. Interest charges can add up and high credit card debt 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.

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Bankrate Insight

By using an eligible card to book airfare, hotels or rental cars through the Bank of America Travel Center, you can earn double the standard rewards rate on those purchases.

How we assess the best Bank of America credit cards

Bankrate's personal finance experts have evaluated the top Bank of America cards according to our 5-star rating system. The list of criteria for rating credit cards includes:
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    Rewards
    Whether the card offers cash back, travel points/miles or multi-purpose rewards for eligible purchases and the potential returns based on rewards rate (1 percent cash back per $1 spent, 1 mile per $1 spent, and so on).
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    Perks and benefits
    Whether the card offers extras such as retail discounts, extended warranties on purchases, travel insurance and financial management tools.
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    Annual fee
    Whether the card charges an annual fee and if so, how much the card's overall value and benefits might offset the fee.
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    Introductory offers
    Whether the card has a sign-up bonus, welcome offer or similar sign-up incentive and how much it adds to the card's overall value.
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    Variable APR
    How the card's APR compares with current averages as an indicator of cost and value.
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    Foreign transaction fee
    Whether the card charges a foreign transaction fee for international purchases and how the fee affects the card's overall value.

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