If you are new to credit cards, it can take time to choose the right one. There are many choices, and you need to exert effort to figure out which best fits your needs.
The good news is that there’s a credit card for every type of consumer. You just need to know what you need or want before applying, whether you want cashback, rewards, or exclusive travel deals.
And we are here to help you with that. We’ve looked at some of the best credit cards that Bank of America has. Each has different benefits, so it’s important to do your research before anything else.
- What Is the Bank of America® Customized Cash Rewards Credit Card?
- What Is the Bank of America® Travel Rewards Credit Card?
- What Is the Bank of America® Premium Rewards® Credit Card?
- What Is the BankAmericard® Credit Card?
- What Is the Bank of America® Business Advantage Cash Rewards Mastercard®?
- What Is the Bank of America® Business Advantage Travel Rewards World MasterCard®?
What Is the Bank of America® Customized Cash Rewards Credit Card?
The Bank of America® Customized Cash Rewards Credit Card is a great option for those interested in cashback rewards. It doesn’t have a complex points system or fancy travel rewards. Instead, it offers a simple cashback system tailored to fit your needs.
The card offers 3% cash back on your chosen category, 2% at wholesale clubs and grocery stores (up to $2,500 in combined choice category/wholesale club/grocery store/quarterly purchases), and unlimited 1% on all other purchases.
One of the unique features of this card is you can choose your category. Bank of America offers a variety of options, including online shopping, gas, travel, dining, home improvement and furnishings, and drug stores. There’s also the option to switch your category once a month.
For gas purchases, you will automatically receive a 3% cash back. Moreover, by spending at least $1000 on online purchases within the first 90 days of account opening, you can earn a $200 bonus. The bonus is a great deal because it’s easy to meet the spending requirement.
What Are the Benefits of the Customized Cash Rewards Credit Card?
The Bank of America® Customized Cash Rewards Credit Card is great for individuals who value a lot of options in their rewards categories.
The categories are broad and include a variety of businesses. For example, online shopping includes purchases from retailers such as Amazon, Bestbuy, Groupon, Target, Apple, Macy’s, and Walmart.
The food and drink category includes restaurants, fast food joints, bars, cocktail lounges, nightclubs, taverns, and other dining establishments like Starbucks, GrubHub, and McDonald’s.
What Is the Bank of America® Travel Rewards Credit Card?
The Bank of America® Travel Rewards Credit Card is a suitable option for travelers and those who are looking for a credit card with no annual fee and a straightforward rewards program.
Although it may not have as many attractive perks as some other popular travel credit cards, it’s a solid option for Bank of America’s Preferred Rewards program members, as they can earn above-average rewards through the bank’s enhanced rewards program.
With this card, cardholders earn 1.5 points per dollar on all purchases. If you are a Bank of America Preferred Rewards program member, you can make a 25% to 75% bonus on all points, based on your program qualification level.
To qualify for the entry-level program, you must have a balance of $20,000 or more in eligible Bank of America or Merrill accounts. New cardholders can earn a $25,000 welcome online bonus points after making at least $1,000 in purchases within the first 90 days of opening an account.
What Are the Benefits of the Bank of America® Travel Rewards Credit Card?
The Bank of America® Travel Rewards Credit Card offers flexibility in booking travel and using points for various expenses, including traditional travel costs and non-traditional fees such as campgrounds, art galleries, and more.
Points can also be used for credit on restaurant purchases. Points never expire, but the travel and restaurant purchases you can get with them do. You can get a statement credit for travel or dining purchases made in the last 12 months, but only for the last 2,500 qualifying purchases.
Bank of America® Premium Rewards® Credit Card
The Bank of America® Premium Rewards® Credit Card has proven to be a good travel rewards card. The card gives 2 points for every dollar spent on travel and dining and 1.5 points for every dollar spent on everything else.
There are cards with a higher value, but they might need more travel perks than this one does. The Bank of America® Premium Rewards® Credit Card is great for international travelers because there are no foreign transaction fees. This is especially true for people who use the $100 statement credit for TSA PreCheck or Global Entry every four years.
This card comes with perks like coverage for trip cancellations and delays, for delayed or lost luggage, and for emergency evacuation and transportation. The only big problem with this card is the $95 annual fee.
What Are the Benefits of the Bank of America® Premium Rewards® Credit Card?
After spending at least $3000 in the first 90 days, cardholders receive $50,000 online bonus points (worth $500) as a sign-up bonus.
For the first five years, the bonus will cover the annual charge. In addition, cardholders can earn up to $100 in annual bill credit to cover incidental airline expenditures such as checked bags, seat upgrades, ticket changes, lounge access, or in-flight refreshments or entertainment.
Cardholders also have access to the Visa Signature Luxury Hotel Collection and benefits like a room upgrade when available, late checkout, complimentary WiFi and daily breakfast, and a $25 food or beverage credit.
BankAmericard® Credit Card
The BankAmericard® Credit Card is a simple card with a 0% interest period that helps you save on credit card interest. Besides that, it doesn’t have any other benefits or rewards.
This credit card does not carry a penalty APR, which means your interest rate will not increase if you make a late payment. This can provide some peace of mind while also potentially saving you money.
Standard features of the card include paperless statements, access to your FICO score, overdraft protection (for a fee), account alerts, and online and mobile banking.
What Are the Benefits of the BankAmericard® Credit Card?
The BankAmericard® Credit Card is great for consumers looking for a long-term solution to high-interest debt or a way to finance a large purchase.
The card boasts a 0% interest rate for nearly two years– one of the longest available–and there is no annual fee. The transfer cost is very cheap at 3%, with a $10 minimum.
What Is the Bank of America® Business Advantage Cash Rewards Mastercard®?
For small business owners who want to earn cash back on business costs, the Bank of America® Business Advantage Cash Rewards Mastercard® Credit Card is an excellent solution.
The card gives 3% cash back in any category, 2% on eating, and 1% on everything else. You can tailor awards to your company’s needs. You can change your 3% incentive category monthly to suit the needs of your business.
With no annual cost, the card is an affordable solution for small business owners. However, it is crucial to remember that 3% and 2% rewards rates are only available on the first $50,000 in combined choice category/dining purchases per calendar year; after that, the rewards will be 1%.
What Are the Benefits of the Bank of America® Business Advantage Cash Rewards Mastercard® Credit Card?
Bank of America® Business Advantage Cash Rewards Mastercard® offers small business owners many advantages. Travel accident insurance, auto rental insurance, emergency ticket replacement, lost-luggage help, and legal and medical referrals are among the main benefits.
Another advantage is the cash flow management tools provided to cardholders. These include various Internet applications that can assist small business owners with financial management, such as the ability to download transactions into QuickBooks.
Bank of America® Business Advantage Travel Rewards World MasterCard®
The Bank of America® Business Advantage Travel Rewards World MasterCard® is a great choice for small business owners who often travel for work.
With a rewards program that gives 3 points per dollar spent on travel booked through the Bank of America® Travel Center and 1.5 points per dollar spent on all other purchases, this card makes it simple and easy to earn travel rewards.
The card has great travel benefits like travel accidents, lost luggage, trip cancellation, and trip delay insurance– making it a great option for people who travel a lot.
The card also features no annual fee, no foreign transaction fees, and a welcome incentive of 30,000 online bonus points if you make at least $3,000 in net purchases during the first 90 days after account setup.
What Are the Benefits of the Bank of America® Business Advantage Travel Rewards World MasterCard® Credit Card?
With the Bank of America® Business Advantage Travel Rewards World MasterCard®, you can use your rewards in various ways. Unlike other cards tied to specific airlines or hotel chains, this card lets cardholders use their points for a wide range of travel purchases, regardless of the brand or provider.
Cardholders can use their points to pay for various travel expenses, such as airfare, hotel stays, cruises, car rentals, and even unusual trips like camping, amusement parks, and more.
Each point is worth 1 cent when used to pay for travel. Bank of America® has a broader idea of what it means to travel, so cardholders can use their points to do things like stay in campgrounds or go to aquariums and zoos.
Conclusion
Bank of America offers many credit cards beyond the ones highlighted here. You can visit their website to find the card that best suits your needs and compare options.
The cards featured here were selected based on factors like introductory bonuses, APRs, annual fees, rewards, and more. Keep in mind too that some cards can be used for multiple purposes, so you have various options.
Disclaimer: All credit products carry risk. Be aware of these risks by reading the associated terms and conditions.