Bank of America® Accelerated Rewards® American Express® Card
- Minimum Credit Required:
Excellent - Annual Fee:None
- Network: American Express
Points - Generic
| Initial Bonus $50 |
Base Earn 1.25 points / $1 |
Max Earn 1.25 points / $1 |
Earn / Redeem Limit No |
- Get a $50 statement credit after making at least $100 in retail purchases within the first 60 days of the account opening date.
- Earn great rewards with 1.25 points per $1 in purchases.
- Redeem your points for travel with no blackout dates, discounts at hotels, cash, brand-name merchandise, or gift certificates.
- Access to special Cardmember offers from participating American Express® merchants to save on shopping, dining, travel, hotels, and much more.
- Access to one of the world's largest and most established travel agency networks.
| Intro Rate 0% |
Intro Period 12 billing cycles |
Regular Rate 12.99%-20.99% (V) Purchases & BT |
| Intro Rate0% | Intro Period12 months | Regular Rate12.99%-20.99% (V) Purchases & BT | Balance Transfer Fee 4% (min $10) |
| Cash Advance Rate 20.99%-24.99% (V) based on type of cash advance |
Cash Advance Fee 4% (min $10) or 5% (min $10) based on type of cash advance |
- Automatic auto rental insurance.
- Extended Warranty.
- Total Security Protection® package protects against fraud and unauthorized use of your card.
- Flexibility to pay over time.
- Free 24/7 Concierge Service.
- Max Late Fee: $35
- Max Overlimit Fee: None
- Max Penalty APR: Up to 29.99% (V) based on customer creditworthiness
- Grace Period: 25 days
- Online Response: Yes
- Foreign Transaction Fee: 1%
If you currently have the Bank of America® Accelerated Rewards® American Express® Card and are satisfied or you like the terms of this credit card offer please let your friends know.
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Bank of America® Accelerated Rewards® American Express® Card is related to the following credit card categories:
- Balance Transfer Points Credit Cards
- Points Credit Card
- Rewards Credit Cards for Excellent Credit
- 0% APR Points Credit Cards
- No Annual Fee Credit Cards
- Balance Transfer Credit Cards
- Excellent Credit Balance Transfer Credit Cards
- Credit Cards for Excellent Credit
- Credit Cards for Excellent Credit with No Annual Fee
- Low Interest Credit Cards with Rewards
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Before applying for a credit card we recommend that you review and verify the credit card terms and conditions on the credit card company's web site. Please let us know if you find any differences related to the Bank of America® Accelerated Rewards® American Express® Card shown on this page.
The card information shown on this page was last updated: May 22nd, 2012 at 5:39 EDT
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As far as I’m concerned, people have three things to consider when deciding whether an everyday rewards card like the Bank of America Accelerated Rewards American Express Card is right for them: 1) How it compares to similar cards currently being offered; 2) How well it complements your spending habits; and 3) How convenient maximizing its rewards offerings will be. So let’s go one by one. 1. How it Compares. Since the BofA Accelerated Rewards Amex Card only gives you a $50 initial bonus and 1.25 points per $1 spent, it’s rewards really aren’t competitive. You can find cards offering a couple free flights, hotel nights, and up to $500 as initial bonuses; 1.5-2% cash back across all purchases; and up to 6% cash back on major spending categories like gas and groceries. So if rewards are what youre after I’d go with the Chase Sapphire Preferred Card, the Cap One Venture, the PenFed Platinum Rewards, or the American Express Blue Cash Preferred instead of the Bank of America Accelerated Rewards Card. 2. How it complements. This card doesn’t offer any special rewards earning rates for specific spending categories, so it complements everyone’s spending the same. This could make it a good everyday rewards card if it had attractive rewards, but since it doesn’t, it’s just a missed opportunity considering that you can save 5% on gas with the PenFed Card or 6% on groceries with the Amex Blue Cash Preferred. 3. Convenience Im not a big fan of cards that give rewards in points. Cash back rewards are much more straightforward and do not require you to redeem often to avoid seeing your points become worth less when the credit card company ups the number you need for certain rewards. This probably wont be a big deal, but you also cant use Amex cards as many places as you can Visa or MC. Overall, the Bank of America Accelerated Rewards Amex is a fine card, especially since it doesn’t have an annual fee, but you can do better.
I suppose “Accelerated Rewards” are those that you earn faster, but one would think that this must be relative to something and highly dependant on your spending habits. The Bank of America Accelerated Rewards Credit Card from American Express can’t have gotten its name from a comparison with other cards that offer a certain cash back rate across all purchases though because it only offers 1.25% cash back while the Capital One Cash Credit Card for example offers 1.5%. And if you spend a lot in certain expense categories, you would certainly earn rewards faster with a card that offers elevated rewards in those particular categories than with the Bank of America Accelerated Rewards American Express Card. Maybe the rewards are accelerated relative to other BofA cards or other Amex cards or maybe the card’s name is just misleading. Whatever the case may be, it’s pretty clear that there are better available options for people with excellent credit. If you want an initial rewards bonus better than the $50 you get with the Accelerated Rewards Credit Card, opt for the Chase Sapphire Preferred. It offers either $625 in travel or $500 in cash. If you want a better base cash back rate, get the previously mentioned CapOne Cash Card. If you want 0% on purchases or transfers, get the Citi Simplicity Card (21 months on both). Like the Accelerated Rewards Credit Card, none of these cards have annual fees during the first year and only the Chase Sapphire Card has one beginning in the second ($95). I’d therefore cross the Bank of America Accelerated Rewards Credit Card from American Express off your list of potential options to apply for.