Understanding Your Credit Card Needs
Before selecting a Bank of America credit card, assess your financial situation and goals by considering:
- Do you want to earn rewards on everyday purchases?
- Are you looking to build or rebuild your credit?
- Do you plan to carry a balance and need a low-interest rate?
- Are you interested in travel rewards or cash back?
Top Cash Back Options
Bank of America® Customized Cash Rewards Credit Card
Best for: Flexible cash back rewards
- 3% cash back in a category of your choice (gas, online shopping, dining, travel, drug stores, or home improvement/furnishings)
- 2% at grocery stores and wholesale clubs
- 1% on all other purchases
- $200 online cash rewards bonus after spending $1,000 within 90 days
- $0 annual fee
Bank of America® Unlimited Cash Rewards
Perfect for simplicity with:
- 1.5% cash back on all purchases
- No annual fee
- $200 online cash rewards bonus after spending $1,000 within 90 days
Travel Rewards Cards
Bank of America® Travel Rewards Credit Card
Best for: Travel enthusiasts
- Rewards: Unlimited 1.5 points per $1 spent on all purchases
- Bonus: 25,000 online bonus points after spending $1,000 in first 90 days
- Features: No foreign transaction fees, no annual fee
- Points can be redeemed for travel purchases
Bank of America® Premium Rewards® Credit Card
Best for: High spenders and frequent travelers
- 2x points on travel and dining
- 1.5x points on all other purchases
- $100 annual airline incidental credit
- Up to $100 Global Entry/TSA PreCheck credit
- 50,000 bonus points after spending $3,000 within 90 days
- $95 annual fee
Low Interest Option
BankAmericard® Credit Card
- 0% APR for 18 billing cycles on purchases and balance transfers made within first 60 days
- $0 annual fee
- Ideal for paying down existing debt or financing large purchases
Preferred Rewards Program
Bank of America customers can enhance their credit card rewards through the Preferred Rewards program:
| Tier | Rewards Bonus |
|---|---|
| Gold | 25% |
| Platinum | 50% |
| Platinum Honors | 75% |
How to Choose
Consider these key factors:
- Primary spending categories: Match highest expenses with best reward rates
- Annual fees: Premium cards have higher fees but more benefits
- Preferred Rewards status: Higher tiers mean better rewards
- Travel habits: Frequent travelers may benefit more from travel rewards cards
- Credit score requirements: More premium cards typically need higher credit scores
Business Credit Cards
For business owners, consider:
- Bank of America® Business Advantage Customized Cash Rewards
- Bank of America® Business Advantage Travel Rewards
Pro Tip: Check for pre-qualification offers through Bank of America's website to avoid unnecessary hard inquiries on your credit report.
For the most current information on rates and rewards, visit the Bank of America credit cards page.