Best Bank of America Credit Cards for August 2022
| Credit card | Introductory offer | Awards | Annual fees | Regular APR | Min. Credit score |
|---|---|---|---|---|---|
| Bank of America® Premium Rewards® Best overall, best trip | 50,000 bonus points after making at least $3,000 in purchases within the first 90 days of account opening | Unlimited points for every dollar spent on travel/dining Earn 2 points for every dollar spent on grocery purchases through 12/31/21 Earn 1.5 points for every dollar spent on all other purchases | $95 | 18.24% to 25.24% | 670 |
| Bank of America® Personalized Cash Rewards for Students best student | $200 online cash rewards bonus after making at least $1,000 in purchases within the first 90 days of opening your account | 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/wholesale club quarterly purchases) Unlimited 1% on all other purchases | $0 | 16.24% to 26.24% | 670 |
| Bank of America Travel Rewards Best trip with no annual fee | 25,000 bonus points if you make at least $1,000 in purchases within the first 90 days of opening your account, which can be redeemed for a $250 credit on your travel statement and restaurant purchases | Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time, and no expiration on points | $0 | 16.24% to 26.24% | 670 |
| Bank of America® Cash Rewards Personalized Credit Card Best cash back | $200 cash rewards bonus online after making at least $1,000 in purchases within the first 90 days of opening your account | Earn 3% cash back in any category 2% at grocery stores and wholesale clubs (up to $2,500 in combined quarterly purchases of choice category/grocery/wholesaler club) Unlimited 1% on all other purchases | $0 | 16.24 to 26.24% | 670 |
| Business Advantage Travel Rewards Best Company | Earn 30,000 bonus points when you make at least $3,000 in net purchases with 90 days of account open Can be redeemed for $300 statement credit for travel or dining | Earn unlimited 1.5 points for every $1 spent on all purchases. Earn 3 points per dollar spent when you book travel (car, hotel, airline) through the Bank of America® Travel Center. | $0 | 12.99% to 22.99% | 670 |
| Bank of America® Secure Personalized Cash Rewards Ideal for bad credit | None | 3% cash back in the category of your choice 2% in grocery stores and wholesale clubs (up to $2,500 in quarterly purchases combined choice category/grocery/wholesaler club) Unlimited 1% on all other purchases | $0 | 26.24% | 350 |
Editorial Picks for America’s Best Credit Card Bank
Bank of America Premium Rewards Credit Card
Best overall, best for travel
Earn unlimited 1.5 points for every dollar spent on all purchases everywhere. Use the 12 month 0% APR promotion on purchases.
Read all Bank of America Premium Rewards Credit Card Review.
Bank of America Personalized Cash Rewards for Students
best student
Students can take advantage of a $200 cash rewards offer after making at least $1,000 in purchases within the first 90 days of opening an account.
Read all Review of Bank of America Personalized Cash Rewards for Students.
Bank of America Travel Rewards Credit Card
Best trip with no annual fee
Take advantage of the generous bonus offer of 25,000 points if you make at least $1,000 in purchases within the first 90 days of opening your account. This can be redeemed for a $250 statement credit for travel and dining purchases.
Read all Bank of America Travel Rewards Credit Card Review.
Bank of America Personalized Cash Rewards Credit Card
Best cash back
Offers 3% Cash Back in the category of your choice (Gas, Online Shopping, Dining, Travel, Drugstores, or Home Improvement/Furniture) as well as 2% Cash Back at Grocery Stores and Wholesale Clubs, and 1% cash back on all other purchases.
Read all Bank of America Cash Rewards Personalized Credit Card Review.
Corporate Advantage Travel Rewards Credit Card
Best Company
Business owners can earn unlimited 1.5 points for every dollar spent on all purchases as well as 3 points for every dollar spent on travel booked through the Bank of America Travel Center.
Read all Business Advantage Travel Rewards Credit Card Review.
Secure Bank of America Personalized Cash Rewards
Ideal for bad credit
Start rebuilding or repairing your credit while you make money. Earn competitive rewards with a secure card and strive to switch to an unsecured card with responsible use.
Read all Bank of America Cash Rewards Personalized Credit Card Review.
Bank of America Card Types
Bank of America issues Mastercard and Visa cards but does not issue cards on the American Express or Discover networks. Its cards include points and cashback options for consumers and small businesses, as well as cards for students and those who want to transfer balances or build credit. The different types of credit cards offered by Bank of America include:
- Credit cards with cash rewards
- Cards for building credit
- Student Credit Cards
- Low interest credit cards
- Credit card reward points
- Credit cards with travel rewards
- Flight reward credit cards
How the Bank of America Rewards Program Works
Bank of America reward points are earned at different levels depending on the card product. They can be redeemed for cash back, statement credits, gift cards, or for travel through the Bank of America Travel Center. As with many issuers’ rewards platforms, earned points generally have the greatest value when redeemed for travel through the Travel Portal.
Is it worth getting a Bank of America credit card?
Whether you are looking for a personal credit card or a business credit cardBank of America offers a variety of credit cards to meet a range of wants and needs.
Credit card benefits
Those interested in earning cash back, travel rewards, or point rewards can benefit from a Bank of America credit card. Students looking to build credit while earning cash or travel rewards can benefit from a Bank of America Student Credit Card.
Credit card interest rates
If you want a credit card that will help you save on interest, Bank of America offers credit cards with introductory offers at 0% APR for purchases and balance transfers for a certain number of months.
Credit card fees
Bank of America offers many credit cards with no annual fee. Some credit cards, including the Bank of America Premium Rewards Credit Card, have an annual fee of $95, but are worth it for those who take advantage of the generous bonus offer and solid rewards points program.
What credit score is needed for a Bank of America credit card?
Bank of America generally requires good or excellent credit for the majority of its consumer and business cards. Good to excellent FICO credit score ranges from 670 to 850. Bank of America considers those with no credit history for its student card options and those with lower scores for its non-reward and secure card options.
To apply for a Bank of America credit card, you can complete an online application and get a response in as little as 60 seconds. You will be asked to fill in certain demographic information (name, address), information about your citizenship (including social security number), and employment information, including your total annual income and primary source of income. revenue.
Once you have submitted all of your information, you will receive one of four decision messages. The first is that your application has been approved. In this case, you can expect to receive your credit card within 10 days. You may also receive a message that your request has been approved, but for another card. It is also possible to receive a message indicating that it takes more time to review your information. Finally, you may receive a notice that you have been declined.
Before applying for a Bank of America credit card, it’s a good idea to check your credit score so you have a good understanding of your current creditworthiness. Bank of America uses the three main credit bureaus: Equifax, TransUnion and Experian.
How good is Bank of America customer service?
Bank of America received a score of 805 out of 1,000 points in the 2021 JD Power U.S. Credit Card Satisfaction Study and ranked fifth out of 11 major national credit card issuers. The average score for major issuers was 809. Its mobile app earned first place in a 2021 JD Power customer satisfaction survey. As another of its services, Bank of America offers customers access to their FICO credit score.
What is the history of Bank of America?
Bank of America Corporation was formed by the merger of BankAmerica, based in San Francisco, California, and NationsBank, based in Charlotte, North Carolina, in 1998, creating one of the largest banking organizations in the country. Bank of America has its roots in the Bank of Italy, which was established by an Italian immigrant to serve his community in 1904. Bank of America launched the BankAmericard in 1958, which was the second universal credit card ever offered, Diners Club being the first . The card network behind BankAmericard eventually evolved into Visa after being spun off from the bank in the 1970s. Bank of America significantly increased its credit card portfolio when it acquired MBNA in 2005.
Methodology
To choose the best Bank of America credit cards, we filtered our list of almost 300 credit cards. We looked at credit card features, including rewards, bonus offers, interest rates, fees, and perks. We also took into account the security of the card and the level of customer service provided. A weighted algorithm was used to determine which cards would be included in our final list.
MEET OUR CREDIT CARD EXPERT
Ben Woolsey is Investopedia’s associate editorial director of financial products and services, including credit cards. He has over 30 years of experience in the financial services industry, including marketing for banking and financial institutions such as Associates First Capital and Bank One. Prior to Investopedia, he managed credit card content for CreditCards.com and Bankrate.com.