The Bank of America Unlimited Cash Rewards credit card is the perfect choice for those seeking simplicity and efficiency in their daily lives. With it, you can earn rewards on all your purchases, hassle-free.
Whether it’s your daily purchases or larger expenses, the card offers a practical way to accumulate rewards. There are no specific categories to track, just a fixed cashback rate on all purchases, making financial planning easier.
Curious to know more about how this card can transform your shopping experience? Keep reading to discover all the details and benefits that the Bank of America Unlimited Cash Rewards card has to offer!
About the Issuer
Bank of America is one of the largest and most respected banks in the United States, known for its wide range of financial services. With a history dating back to 1904, the bank has established itself as a reliable and innovative institution.
The Bank of America Unlimited Cash Rewards card is issued by Bank of America itself, ensuring the security and solidity you expect from a reputable institution. The key word here is “reliability,” and Bank of America stands out by providing this peace of mind to its customers.
In addition to credit cards, Bank of America offers a wide variety of financial products, from bank accounts to investment services, always focusing on meeting its customers’ needs effectively and safely.
Benefits
Unlimited Cashback: The main benefit of the Bank of America Unlimited Cash Rewards card is the unlimited 1.5% cashback on all purchases. This means you earn money back on every transaction without worrying about specific categories or limits.
Welcome Offer: When you sign up, you can earn a $200 cash rewards bonus. This initial incentive helps you maximize your benefits right from the start.
No Annual Fee: The card does not charge an annual fee, allowing you to enjoy all the benefits without additional costs. This makes the card an economical and accessible option for all consumer profiles.
Preferred Rewards: If you are a member of Bank of America’s Preferred Rewards program, you can earn 25% to 75% more cashback on every purchase. This can significantly increase your rewards, especially if you already have accounts or investments with the bank.
Contactless Payment Card: With the convenience of contactless payment, you can make purchases quickly and securely by simply tapping the card on compatible terminals.
Flexible Redemption Options: You can redeem your cash rewards as statement credits, deposits into eligible Bank of America accounts, or even to fund investments in Merrill accounts.
No Reward Limits: There is no limit to how much you can earn in cashback, and your rewards do not expire as long as your account remains open, providing flexibility and security.
Additional Benefits: Besides all these advantages, the card also offers additional benefits such as travel and car rental insurance, access to exclusive events, and much more.
Bank of America Unlimited Cash Rewards – Fees and commissions
The Bank of America Unlimited Cash Rewards offers a competitive fee structure. There is no annual fee, which is a big attraction for many consumers looking to save.
The introductory APR is 0% for the first 15 billing cycles on purchases and balance transfers made within the first 60 days. After this period, the variable APR will be between 19.24% and 29.24%, depending on your credit.
The balance transfer fee is 3% for transfers made within the first 60 days, increasing to 4% after this period. There is also a 3% foreign transaction fee, which should be considered if you frequently travel internationally.
Card limit
The credit limit of the Bank of America Unlimited Cash Rewards card varies based on the applicant’s credit analysis. Cardholders with excellent credit history may receive higher limits, while those with limited or less robust history may start with a lower limit.
The credit limit is an important factor as it directly influences your ability to manage large purchases and your overall credit utilization, which can affect your credit score.
Positive points
- NO ANNUAL FEEThere is no annual cost to maintain the card, allowing you to enjoy rewards without additional costs.
- WELCOME BONUSEarn $200 cashback after spending $1,000 in the first 90 days.
- POSSIBILITY TO INCREASE REWARDSEarn up to 75% more cashback if you are a member of the Preferred Rewards program.
Negative points
- FOREIGN TRANSACTION FEEA 3% fee on purchases made outside the U.S. can be inconvenient for frequent travelers.
- VARIABLE CREDIT LIMITThe initial credit limit may be low for some users, depending on the credit analysis.
- APPROVAL REQUIREMENTSTo be approved, you need to have a good credit history.
How to apply for Bank of America Unlimited Cash Rewards
To apply for the Unlimited Cash Rewards Bank of America card:
- Visit the official Bank of America website;
- Go to the Bank of America Unlimited Cash Rewards card page;
- Read all it can offer and then click “Apply now”;
- Fill out the online application form with your personal and financial information;
- Submit the application and wait for the credit analysis.
How to contact Bank of America
For more information or assistance, you can contact Bank of America:
- By phone: 800 932 2775
- Use the online chat available on the bank’s official website
- Visit a branch in person
This card is an excellent option for those seeking simplicity and consistency in cashback rewards. If you want to boost your financial life, apply for your Bank of America Unlimited Cash Rewards now!
