Best for cash back

Bank of America® Unlimited Cash Rewards credit card

Terms Apply
  • 1.5% Earn 1.5% cash back on every purchase, every time.
Apply Now
On Bank of America's secure site
Intro bonus
$200 
Annual fee
$0
Regular APR
13.99% - 23.99% Variable APR on purchases and balance transfers
Recommended credit
Good to Excellent (670 - 850)
Best for choice of rewards category

Bank of America® Customized Cash Rewards credit card

Terms Apply
  • 3% Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).
  • 2% Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).
  • 1% Earn unlimited 1% on all other purchases.
Apply Now
On Bank of America's secure site
Intro bonus
$200 
Annual fee
$0
Regular APR
13.99% - 23.99% Variable APR on purchases and balance transfers
Recommended credit
Good to Excellent (670 - 850)
Best Bank of America travel card

Bank of America® Premium Rewards® credit card

Terms Apply
  • 2X Earn unlimited 2 points for every $1 you spend on travel and dining purchases.
  • 2X Earn 2 points for every $1 spent on grocery store purchases - now through 12/31/21.
  • 1.5X Earn 1.5 points for every $1 you spend on all other purchases.
Apply Now
On Bank of America's secure site
Intro bonus
50,000 points 
Annual fee
$95
Regular APR
15.99% - 22.99% Variable APR on purchases and balance transfers
Recommended credit
Good to Excellent (670 - 850)
Best for balance transfers

BankAmericard® credit card

Terms Apply
With one of the industry's longest intro APR offers on qualifying balance transfers and purchases, the BankAmericard® credit card can be a useful money management tool. This card doesn't provide much in the way of other features beyond free FICO Score access and no penalty APR but it does now offer a new intro bonus. You get a $100 statement credit online bonus after spending $1,000 in the first 90 days. Despite having no rewards program, this card is still a solid choice for getting a temporary break from interest charges.

Read our full BankAmericard® credit card review.

Apply Now
On Bank of America's secure site
Intro bonus
$100 statement credit 
Annual fee
$0
Regular APR
12.99% - 22.99% Variable APR on purchases and balance transfers
Recommended credit
Good to Excellent (670 - 850)
Best for qualifying travel purchases

Bank of America® Travel Rewards credit card

Terms Apply
  • 1.5X 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.
Apply Now
On Bank of America's secure site
Intro bonus
25,000 points 
Annual fee
$0
Regular APR
13.99% - 23.99% Variable APR on purchases and balance transfers
Recommended credit
Good to Excellent (670 - 850)

Compare Bankrate’s picks for best Bank of America credit cards

Card Name Best for Bankrate Review Score
Bank of America® Unlimited Cash Rewards credit card Cash back 3.4/5
(Read full review)
Bank of America® Customized Cash Rewards credit card Choice of rewards category 4.0/5
(Read full review)
Bank of America® Premium Rewards® credit card Best Bank of America travel card 4.2/5
(Read full review)
BankAmericard® credit card Balance transfers 4.1/5
(Read full review)
Bank of America® Travel Rewards credit card Qualifying travel purchases 3.8/5
(Read full review)

A closer look at our top Bank of America cards

Bank of America® Unlimited Cash Rewards credit card

Best for cash back

  • This card is best for: Cash back seekers who prefer an uncomplicated rewards system.
  • This card is not a great choice for: Someone who tends to spend a lot in a few particular categories. If you don’t mind keeping up with bonus categories, you may do better with a card like the Bank of America® Customized Cash Rewards credit card, which rewards particular types of purchases at a higher rate.
  • What makes this card unique? The Unlimited Cash Rewards credit card is the simplest of Bank of America’s credit card offerings, rewarding cardholders with a flat 1.5 percent cash back on all purchases.
  • Is the Bank of America® Unlimited Cash Rewards credit card worth it? While 1.5 percent cash back isn’t the most standout offer on the rewards card market, the value of this card lies in its simplicity. If you’re after a no-fuss cash back card, you’re sure to find steady, uncomplicated value in the Bank of America® Unlimited Cash Rewards credit card.

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

Bank of America® Customized Cash Rewards credit card

Best for choice of rewards category

  • This card is a good fit for: Anyone interested in choosing their own high-rate rewards category for cash back.
  • This card is not a great choice for: People who prefer a more open-ended cash back card that offers a flat rate on all eligible purchases, with no special categories to choose or maintain.
  • What makes this card unique? Cash back cards with rewards rates higher than the typical 1-2 percent usually have fixed categories or categories that change every quarter, with the issuer calling the shots. This card provides the rare opportunity for you to choose where you’ll earn the highest rate.
  • Is this card worth it? If you want more control over how you earn rewards, a customizable cash back card — with no annual fee — might be irresistible.

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

Bank of America® Premium Rewards® credit card

Best Bank of America travel card

  • This card is a good fit for: Loyal Bank of America customers who want to go all-in with the bank’s top travel rewards card.
  • This card is not a great choice for: Infrequent travelers, who won’t be able to take full advantage of the rewards program and travel-oriented benefits.
  • What makes this card unique? You have the flexibility to redeem rewards 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.
  • Is this card worth it? For Bank of America Preferred Rewards members, definitely. Earning 25-75 percent more points on every purchase (based on your enrolled tier) can supercharge your rewards earnings and offset the $95 annual fee.

Read our Bank of America Premium Rewards credit card review.
Jump back to offer details.

BankAmericard® credit card

Best for balance transfers

  • This card is a good fit for: Those looking for a lengthy (but temporary) break from costly APR on qualifying balance transfers and purchases.
  • This card is not a great choice for: People looking for a standard credit card rewards program.
  • What makes this card unique? It doesn’t offer the typical “cash back on all eligible purchases” opportunities, but you can occasionally earn cash back at participating merchants through BankAmeriDeals. You can also earn a $100 statement credit online bonus when you spend $1,000 in the first 90 days.
  • Is this card worth it? If your main concern is transferring a high-interest balance or getting a temporary reprieve from interest on purchases, this straightforward card could help you get the job done.

Read our BankAmericard credit card review.
Jump back to offer details.

Bank of America® Travel Rewards credit card

Best for qualifying travel purchases

  • This card is a good fit for: Anyone looking for a rewards card that also offers the chance to earn statement credits for a wide variety of travel purchases, including art galleries, zoos, campgrounds and travel agencies.
  • This card is not a great choice for: Travelers who want to earn high rewards rates for their allegiance to a single airline or hotel chain. This card is about flexibility rather than brand loyalty.
  • What makes this card unique? Bank of America provides a lot of latitude in how it defines travel purchases eligible to earn statement credits, which makes this card a great choice for out-of-the-way travel itineraries.
  • Is this card worth it? For a particular kind of traveler, this no-annual-fee card offers many opportunities to get the most out of their travel budget.

Read our Bank of America Travel Rewards review.
Jump back to offer details.


What is Bank of America?

Bank of America (often abbreviated as BofA) is the second biggest full-service bank in the U.S. (by total assets). Compared with its competitors, it’s behind only J.P Morgan Chase & Co.

Biggest banks in the U.S. by assets

Ranking Bank Total assets
1 JP Morgan Chase & Co. $2.82 trillion
2 Bank of America $2.16 trillion
3 Wells Fargo & Co. $1.80 trillion
4 Citigroup Inc. $1.63 trillion

Source: “Top 15 largest banks in the US” – Bankrate.com

Bank of America 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. Ever since, BofA has been well-known for its credit card line up, covering the spectrum from cash back to travel to business.

In addition to credit cards, Bank of America offers financial products and services including mortgages, car loans, checking and savings accounts and investments through Merrill Lynch.

Who should get a Bank of America credit card?

Bank of America has options for many kinds of credit card users, but some consumer groups can especially benefit from one of their credit cards. They include:

Loyal banking customers

Bank of America Preferred Rewards members are eligible to earn as much as 75% more points per purchase, based on their membership tier. Other Preferred Rewards benefits include discounts on auto loans and home equity loans.

Cash back strategists

The Bank of America Customized Cash Rewards credit card lets you choose the purchase category where you earn the highest cash back rate. This option can help you maximize your cash back returns depending on where you concentrate your spending.

Travelers

Bank of America offers travel cards for everyday consumers, small business owners and students. You can book travel through the Bank of America Travel Center and enjoy benefits including purchase protection, roadside dispatch and lost luggage reimbursement.

Debt managers

Bank of America has multiple cards with 0% intro APR balance transfer offers. These offers provide an opportunity to transfer an existing debt to a new card and get a temporary break from interest as you pay it off.

Small business owners

Bank of America has credit cards to help small business owners earn cash back or travel rewards. By earning and redeeming rewards, you can defray some of the everyday costs of operating your business.

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.

Pros and cons of Bank of America credit cards

Pros

  • With eligible Bank of America accounts and Merrill Edge investment accounts, you can enroll in the Preferred Rewards program to get higher rewards point value.
  • Many Bank of America cards charge no annual fee.
  • The BankAmeriDeals program has special cash back offers at select merchants.
  • Through the Museums on Us program, your Bank of America card may be a free ticket into a participating museum.
  • All cards come with access to Bank of America’s Online and Mobile Banking service.

Cons

  • Sign-up bonuses aren’t competitive with many comparable cards.
  • Some competitors offer more flexibility in redeeming travel rewards.
  • Unless you’re a Preferred Rewards member, you won’t get maximum value out of your card’s rewards program.
  • Some non-travel cards charge a 3% foreign transaction fee, which could apply to online purchases made from overseas merchants.

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.

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 reduced 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’re a Preferred Rewards client, make sure to factor the rewards bonus into your analysis of their credit card offers.

How to decide which card is best for you

It’s important to have a firm understanding of what you’re looking for from your credit card. Here are a few things you should consider before applying:

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 2021 resolutions is to travel more, 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 BofA.

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 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. Parents and other everyday shoppers 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. 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.

APR

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 0% 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.

Bankrate insight
Bank of America places restrictions on how many credit cards you can sign up for within a 24-month time period. Rules vary by card, so read the terms and conditions carefully.

How we chose our top-rated Bank of America 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:

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).

Perks and benefits

Whether the card offers extras such as retail discounts, extended warranties on purchases, travel insurance and financial management tools.

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.

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.

Variable APR

How the card’s APR compares with current averages as an indicator of cost and value.

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.

about the author
Upon graduating with a Bachelor’s degree concentrated in Finance, Joey worked at “Big Four” (Ernst and Young) accounting firm before exploring the world of credit cards. Over the past two years, he’s shared his expertise and has brought understanding to complex topics as a writer and editor for sites like Bankrate, CreditCards.com and NextAdvisor. Hi...
about the editor
Former 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.

* 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.