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Card reviewBank of America
Updated Aug 2, 2026 · research
Bank of America® Unlimited Cash Rewards Credit Card
Bank of AmericaBofA Rewards™

Bank of America® Unlimited Cash Rewards Credit Card

Earn unlimited 1.5% cash back on all purchases, plus 2% cash back for the first year, with no annual fee and a $200 online cash rewards bonus.

Entry LevelPersonal
Visa
$0
Annual fee
2% back all purchases (first year)
Top rate
N/A
Foreign fee
N/A
Rating

Current Welcome Offer

Earn $200

Spend $1,000 in 90 days

Verifiedofficial issuer page
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Card Offers

public

Earn $200

Verified

Spend $1,000 in 90 days

official issuer_page

Earning Rates

All Purchases (First Year)
2%cash back

First year from account opening. May earn additional rewards bonus if enrolled in BofA Rewards.

All Purchases
1.5%cash back

After the first year. May earn additional rewards bonus if enrolled in BofA Rewards.

Pros & Cons

Pros

  • No annual fee
  • Unlimited 1.5% cash back on all purchases after first year (2% first year)
  • $200 welcome bonus after $1,000 spend in 90 days
  • 0% intro APR for 15 billing cycles on purchases and balance transfers
  • Preferred Rewards bonus boosts effective rate up to 2.625%

Cons

  • 3% foreign transaction fee
  • Variable APR up to 27.49% after intro period
  • Balance transfer restrictions including no payments to Bank of America accounts
  • Requires good credit for approval
  • Lower base rate than some category-specific cards

Key Takeaways

  • Earn unlimited 1.5% cash back on everything after first year at 2%, boosted by Preferred Rewards
  • No annual fee and flexible redemptions including statement credits and direct deposits
  • 0% intro APR for 15 billing cycles on purchases and early balance transfers
  • $200 bonus after $1,000 spend in 90 days
  • Cash rewards do not expire if account stays open

Fees

Fee TypeAmount
Annual Fee$0

APR Information

Purchase APR
17.49% - 27.49%0% intro APR for 15 months
Balance Transfer APR
17.49% - 27.49%0% intro APR for 15 months

APRs shown are variable and may change based on the Prime Rate. Your actual APR will be determined based on your creditworthiness.

Card Benefits

3 benefits

Lifestyle Benefits

Other Insurance

Coverage Tier Legend

Best in ClassIndustry-leading coverage
StrongAbove average
StandardTypical coverage
LimitedBelow average

Hidden Gems

Preferred Rewards Bonus

Bank of America Preferred Rewards members get 25% to 75% extra on all purchases, raising 1.5% to up to 2.625% cash back. Many overlook this free boost requiring only qualifying account balances.

Intro Balance Transfer Fee

Balance transfers in the first 60 days cost 3% instead of 5%. This lower fee pairs with 0% APR for 15 cycles but excludes Bank of America payments.

Flexible Redemption Options

Redeem any amount of cash back via statement credit, Bank of America direct deposit, Amazon, or PayPal. Rewards last as long as the account is open.

Frequently Asked Questions

What is the annual fee for this card?
The card has no annual fee. This applies every year with no waiver conditions mentioned.
What are the cash back earning rates?
Cardholders earn 2% cash back on all purchases for the first year from account opening. After the first year, it is unlimited 1.5% cash back on all purchases. Preferred Rewards members earn an additional 25% to 75% bonus on every purchase based on tier.
What is the welcome bonus offer?
New cardholders can earn a $200 online cash rewards bonus. This requires making at least $1,000 in purchases within the first 90 days of account opening.
What are the introductory APR details?
The card offers 0% introductory APR for 15 billing cycles on purchases and balance transfers made within the first 60 days. After that, the variable APR ranges from 17.49% to 27.49%.
How do balance transfers work?
Balance transfers within the first 60 days have a 3% intro fee, then 5% standard fee. They cannot be used to pay Bank of America accounts. The 0% intro APR applies for 15 billing cycles.
What are the redemption options for cash back?
Rewards can be redeemed as statement credits, direct deposits to Bank of America checking or savings accounts, or for purchases at Amazon or PayPal. Cash rewards do not expire as long as the account remains open.
Does the card have a foreign transaction fee?
Yes, there is a 3% foreign transaction fee.
What credit score is required?
The card requires good credit.

About This Card

This card suits everyday spenders seeking simple unlimited cash back without an annual fee, especially Bank of America customers eligible for Preferred Rewards to boost returns. It fits those needing a long intro APR period for purchases or balance transfers.

The Bank of America® Unlimited Cash Rewards credit card is designed for simple, flat-rate cash back. It offers 2% cash back on all purchases for the first year, and 1.5% cash back thereafter. With a $200 online cash rewards bonus and $0 annual fee, it is an excellent choice for everyday spending.

It combines a long 15-billing-cycle 0% intro APR with unlimited flat cash back and a no-fee Preferred Rewards boost in the entry-level tier.

Ready to Decide?

Apply for the Bank of America® Unlimited Cash Rewards Credit Card

Earn $200 with no annual fee.

Spend $1,000 in 90 days

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Sources & Methodology

Data Collection

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  • 3 of 3 benefits rated high confidence
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