The
Bank of America® Unlimited Cash Rewards credit card for Students is a good credit card for students with excellent credit who want to earn cash back rewards at a flat rate on all purchases. It has a
$0 annual fee and gives
1.5% cash back on all purchases, plus an initial bonus of
$200 after spending $1,000 in the first 90 days.
This card is particularly good for students with a Bank of America checking or savings account, who might qualify for extra rewards. It can also help you save a lot of money on interest if you need to make a big purchase or balance transfer, offering an introductory APR of
0% for 15 billing cycles.
Once the introductory period ends, however, this card is not good for carrying a balance from month to month. In addition, the
Bank of America® Unlimited Cash Rewards credit card for Students won’t work for most students until Bank of America reduces its minimum credit score requirement to allow applicants with limited credit history to qualify.
Bank of America® Unlimited Cash Rewards credit card for Students Review Highlights
$200 after spending $1,000 in the first 90 days initial bonus
If you apply online, get approved and then spend
$1,000 in the first
90 days after opening your account, Bank of America will give you a
$200 bonus. The bonus should be credited to your account 8-12 weeks after you qualify.
1.5% cash back on all purchases
The
Bank of America® Unlimited Cash Rewards credit card for Students’s rewards rate is nearly 50% higher than average for a cash back credit card. This would be amazing for students with limited credit history, but people with excellent credit can get cards offering at least 2% back on all purchases.
If you have a qualifying Bank of America checking or savings account, or a Merrill investment account, that might tip the scales in favor of this card. You could earn 25% to 75% more rewards as a
Bank of America Preferred Rewards® customer. 0% for 15 billing cycles on purchases and qualifying transfers
The Bank of America® Unlimited Cash Rewards credit card for Students offers an intro APR of 0% for 15 billing cycles on purchases and 0% for 15 billing cycles for any balance transfers made in the first 60 days, allowing you to avoid interest charges as long as you make at least the minimum monthly payments along the way. This offer is better than average for a 0% credit card, but applicants with excellent credit may be able to get cards with longer 0% intro periods.
Once the Bank of America® Unlimited Cash Rewards credit card for Students’s 0% period ends, a high regular APR takes effect, and you’ll need to pay the bill in full every month to avoid expensive interest charges. You should also be aware that a balance transfer fee of 3% for 60 days from account opening, then 4% will apply if you transfer debt from another credit card.
$0 annual fee
Just like the rest of the
best credit cards for college students, the
Bank of America® Unlimited Cash Rewards credit card for Students has no annual fee. This saves you an average of
$22.29 per year compared to other credit card offers.
750+ credit score recommended
The
Bank of America® Unlimited Cash Rewards credit card for Students currently requires excellent credit. As a result, a credit score of 750+ should give you good odds of approval. You can
check your credit score for free on WalletHub.Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.