BankAmericard Cash Rewards™ credit card is one of the best cash back credit cards in the US in my opinion. Provided by Bank of America, this no annual fee card is for those with good to excellent credit who want to earn cash back on their spending, as well as enjoy a special interest-free introductory period on both purchases and balance transfers.
This Visa card is one of the highest ranked Bank of America credit cards on GET.com since it has many additional benefits apart from earning cash back and offering you low introductory interest rates. In this review, I will share with you the main benefits of BankAmericard Cash Rewards™ credit card, and take a look at how it compares to other cash back credit cards.
Things We Like About BankAmericard Cash Rewards™ credit card
No annual fee. This card has no annual or monthly fees.
Earn $100 online cash rewards bonus when spending at least $500 within the first 90 days. You will earn a $100 online cash rewards bonus after you make purchases totaling at least $500 within the first 90 days from account opening.
Enjoy 0% intro APR on purchases during the first 12 billing cycles. If you plan on making expensive purchases with this card, you will be able to pay them off interest-free during the first 12 billing cycles of card membership. After this introductory interest rate period, you'll have a 13.24% - 23.24% Variable APR on balance transfers based on your creditworthiness.
Enjoy 0% intro APR for 12 billing cycles on balance transfers made within the first 60 days of account opening. When transferring a balance to this card within 60 days of opening your account, you will be able to enjoy 12 billing cycles of 0% intro APR on the amount you transfer. Any balance transferred to this card after the first 60 days will have 13.24% - 23.24% Variable APR on balance transfers. Keep in mind that you'll still have to pay a 3% balance transfer fee (minimum $10).
Earn 3% cash back on gas purchases and 2% cash back at grocery stores and wholesale clubs on the first $2,500 spent between combined grocery store, wholesale clubs and gas purchases each quarter. If you spend a lot of money on wholesale clubs, grocery store and gas purchases, you will benefit the most from having this card. For spending that is more than $2,500 in combined grocery store and gas purchases, you will earn 1% cash back on the rest of the purchases.
Earn 1% cash back on everything else. All your other purchases that are not included in the grocery store and gas categories will earn 1% cash back.
Cash back enrollment not required to earn rewards. Unlike some other cards, you won't have to enroll in any cash back program in advance to be eligible to earn rewards.
Cash back categories do not change. This card, unlike other cards, doesn't have changing categories that rotate each quarter.
Rewards don't expire. No matter how long you accumulate your cash back for, it won't expire, so this gives you the convenience of being able to redeem it whenever you want.
Redeem your cash back in the form of a check, statement credit, or a deposit into a Bank of America® savings or checking account. If you choose a deposit, you will get a 10% bonus if you redeem your cash back into a Bank of America® checking or savings account. Preferred Rewards clients can increase that bonus to 25%-75%.
If you have an active Bank of America® checking or savings account you get a 10% customer bonus every time you redeem your cash back into your Bank of America® checking or savings account.
If you have an average combined balance of $20K to $50K in your eligible Bank of America® bank account over a 3-month period, that will increase to a 25% customer bonus every time you redeem your cash back into your Bank of America® checking or savings account.
When you have a 3-month average combined balance of $50K to $100K in your Bank of America® checking or savings account, that customer bonus will increase to a 50% customer bonus every time you redeem your cash back into your Bank of America® checking or savings account.
If you have a 3-month average combined balance of $100,000 or more in your Bank of America® checking or savings account, you could benefit from a phenomenal 75% customer bonus every time you redeem your cash back into your Bank of America® checking or savings account. So if you redeem $100 cash back into your eligible account, you will get a $75 customer bonus!
Chip technology to help protect you from fraud at chip-enabled merchants. This feature also allows you to make purchases in other parts of the world where chip technology is widespread, such as in Europe. Do note that you have to select this option on the card application page.
Free entrance at many US museums. The Museums on Us® program from Bank of America gives you free entry on into over 150 cultural institutions (museums, zoos, science centers and more) in around 100 US cities on the first full weekend of every month. Just show this card and some form of ID at the reception desk.
$0 Liability Guarantee. If your card gets lost or stolen, you won't be liable to pay for any fraudulent purchases.
Other benefits such as paperless statement options, account alerts, text and mobile banking are available to all cardholders.
Our Least Favorite Things About BankAmericard Cash Rewards™ credit card
Cash back redeemed as checks will expire 90 days after being issued. This will not be a problem for you if you cash the check within 90 days from the date of issue. Even if a check does expire, you will receive a statement credit for that cash back as long as your card account is open. However, if you plan to use this credit card then you may want to consider opening a Bank of America® checking or savings account to take advantage of the 10% customer bonus you get each time you redeem your cash back into a Bank of America® checking or savings account (which increases to 25%-75% if you're a Preferred Rewards client).
How Other Cards Compare With BankAmericard Cash Rewards™ credit cardBlue Cash Everyday® Card from American Express, a GET.com advertiser, lets you earn $100 back (as a statement credit) after you spend at least $1,000 on purchases with your new Card in your first 3 months as a new Card Member. You earn 3% cash back at U.S. supermarkets (for up to $6,000 per year in purchases, then 1%), earn 2% cash back at U.S. gas stations & select U.S. department stores, and 1% on other purchases. Terms and limitations apply. It has a 0% intro APR on purchases and balance transfers for 12 months (13.24% - 23.24% variable APR after) and no annual fee. BankAmericard Cash Rewards™ credit card gives you a higher rate of cash back (3%) on gas and lower (2%) cash back at grocery stores and wholesale clubs (for the first $2,500 in combined grocery/gas purchases each quarter) compared to Blue Cash Everyday® Card from American Express. You earn the same 1% cash back on other purchases.
Capital One® Quicksilver® Cash Rewards Credit Card lets you earn a one-time $100 cash bonus after you charge $500 or more of purchases to this card within the first 3 months. You earn 1.5% unlimited cash back on every purchase, which makes it a very rewarding card for general purchases. But it doesn't offer bonus cash back for gas or grocery purchases. It has a 0% intro on purchases and balance transfers for 9 months (a 3% fee applies to each balance transferred) and 13.24% - 23.24% (Variable) after that. It has $0. You earn a higher rate of cash back for all purchases with this card, but BankAmericard Cash Rewards™ credit card is a better cash back credit card for gas and grocery purchases.
BankAmericard Cash Rewards™ credit card is very rewarding cash back card for gas and grocery purchases, especially if you also use a Bank of America® checking or savings account.
BankAmericard Cash Rewards™ credit card is an excellent card for those of you who want to earn and accumulate cash back, especially if you spend a lot of money on grocery store and gas purchases each quarter.
I also recommend this card if you're planning on making a big-ticket purchase and then repaying it during the first year you have this card, as you will be able to do so with 0% interest during the first 12 billing cycles (13.24% - 23.24% Variable APR on balance transfers thereafter). This card is also a good choice if you're currently holding a card that charges a high interest on your balance since you will also get 0% intro APR for the first 12 billing cycles on any balances that you transfer to this card within 60 days of account opening (13.24% - 23.24% Variable APR on balance transfers after that).
To me, the most attractive feature of this card is that it offers a decent cash back program that doesn't require you to enroll in advance, plus you earn $100 online cash back bonus if you make at least $500 in purchases with your card within 90 days of account opening. One feature of this Bank of America credit card that makes it stand out among other credit cards in the US is that it includes chip technology, which provides additional security when used at chip-enabled merchant terminals. See Terms.
Ivan Daniel is a writer at GET.com. Email: firstname.lastname@example.org.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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The most frustrating part with this card is you can not pay on the due date, it has to be paid one day before. Also if the due date is on the weekend or some holiday, you need to have your payment done on the last working day! I have credit cards from some credit union bank, Discover and American Express. None of them has this issue. Also BofA customer service is not as good as others, recently I spent 45 minutes on the phone to correct a simple error.
March 08 2016 at 23:13
I'm surprised they didn't elaborate on the 25-75% bonus for depositing into a bank of america checking account. That's the first I've heard of that and that's pretty rewarding! So ready to get my Unsecured Americard in January!
October 25 2015 at 10:49
What is the foreign transaction fees?
January 24 2015 at 23:43
BofA will "forget" to send you the $100 signup reward. I have called 3 times and spent over an hour on the phone. They say it's their fault, but I am still waiting for my $100, 8 months after signing up.
December 12 2014 at 19:51
I love the cash back rewards. At Christmas I redeem my rewards for cash. A nice Christmas gift to myself.
November 16 2014 at 13:25