The
Bank of America® Unlimited Cash Rewards credit card is a good credit card for people with a credit score of
750 or higher who want to earn at least
1.5% cash back on all purchases and enjoy a
$0 annual fee. The card also offers an initial bonus of
$200 for spending
$1,000 within
90 days of opening an account.
There’s more to this offer than rewards, too. Those who apply and get approved for the
Bank of America Unlimited Cash Rewards credit card can also avoid interest charges for up to
15 billing cycles, thanks to 0% introductory APRs for both new purchases and balance transfers made in the first 60 days. You do have to pay at least the minimum owed by each due date, however, and any balance remaining at the end of the intro period will accrue interest at the card’s high regular APR.
Below, you can find more information that should help you decide whether or not to apply for the
Bank of America Unlimited Cash Rewards credit card.
Bank of America Unlimited Cash Rewards credit card Review Highlights
$0 Annual Fee
The
Bank of America Unlimited Cash Rewards credit card annual fee is
$0. That makes it roughly
$22.29 per year cheaper than the average credit card offer available right now.
$200 Initial Bonus
All you have to do to earn the
$200 online cash rewards bonus is make at least
$1,000 in purchases during the first
90 days your account is open. For context, the average cash back credit card offer has an initial bonus of
$228.
0% Intro APRs
New cardholders get
0% for 15 billing cycles intro on new purchases. When it comes to balance transfers, the offer is
0% for 15 billing cycles for any balance transfers made in the first 60 days. Both sides of the deal are better than average. Among new credit card offers, 0% introductory APRs last an average of
11 months for new purchases and
13 months for balance transfers. After the intro APR period ends, a
18.24% - 28.24% Variable APR will apply.
1.5% Cash Back on All Purchases
The
1.5% cash back that the
Bank of America Unlimited Cash Rewards credit card gives cardholders on every purchase is nearly 40% higher than the base rewards rate on the average credit card offer. Unlike many other rewards cards, there are no limits or hoops to jump through with the
Bank of America Unlimited Cash Rewards credit card, either. That’s what makes it so good for people who want simple, yet valuable rewards. Plus, if you’re a Bank of America Preferred Rewards® member, you can get an extra 25% - 75% added to your rewards earnings. That could boost your rewards rate as high as 2.62%.
3% Foreign Transaction Fee
The
3% foreign fee applies to purchases made with the
Bank of America Unlimited Cash Rewards credit card while abroad or shopping online through foreign merchants. It’s best to use a
credit card with no foreign fee for those transactions.
750+ Credit Score Needed
The
Bank of America® Unlimited Cash Rewards credit card requires
excellent credit for approval. You can
check your latest credit score for free on WalletHub.
18.24% - 28.24% Variable APR
The
Bank of America® Unlimited Cash Rewards credit card interest rate can be anywhere from
18.24% to 28.24% Variable, depending on your overall creditworthiness, which includes both your credit standing and your ability to pay the bills. In any case, the rate you’re assigned will be higher than average compared to other credit card offers for people with excellent credit.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.