Bank of America Unlimited Cash Rewards Review
The Bank of America Unlimited Cash Rewards credit card is full of features designed to save you money and give you peace of mind.
If you’re looking for a credit card that makes earning rewards easy, the Bank of America Unlimited Cash Rewards credit card is one of the best and most straightforward options available. This card is perfect for people who don’t want to deal with complicated reward categories or spending caps. It’s built on a simple promise: earn a great, flat rate of cash back on every single thing you buy.
With a generous welcome bonus to get you started, a long interest-free period for big purchases, and no annual fee, this card is a fantastic all-around choice for almost any wallet. It’s a reliable and rewarding card that lets you focus on your life while your cash back adds up automatically.
Great Benefits for Your Everyday Life
- Unlimited 1.5% Cash Back: This is the best part! You earn a solid 1.5% cash back on all your purchases. There are no rotating categories to sign up for and no limit to how much you can earn.
- A Big $200 Welcome Bonus: Get a great start with a $200 cash rewards bonus after you spend $1,000 on purchases in your first 90 days with the card.
- No Annual Fee: That’s right, you get all these great benefits and you never have to pay an annual fee.
- Long 0% Interest Period: Plan a big purchase or pay off other debt with a 0% intro APR for 15 billing cycles on both purchases and qualifying balance transfers. After that, a variable APR applies.
- A Bonus for Bank of America Customers: If you have checking or savings accounts with Bank of America, you can get even more value. The Preferred Rewards® program offers a 25% to 75% bonus on the cash back you earn.
- Easy to Get Your Cash: Redeeming your cash back is simple. You can get it as a statement credit on your bill, a direct deposit into your Bank of America account, or a credit to a Merrill® investment account.
- Free Museum Days: With the Museums on Us® program, you can get free general admission to hundreds of museums and cultural centers across the country on the first full weekend of each month.
- Free Credit Score: You can check your FICO® Score for free anytime through your online account or the mobile app, helping you stay on top of your credit health.
Who Can Apply for This Card?
This is a great all-around card for many people. Generally, you will need:
- Good to excellent credit (a FICO score around 670 or higher is recommended).
- To be at least 18 years old.
- A valid U.S. address and Social Security Number.
How to Apply: A Simple Step-by-Step Guide
- Visit the Bank of America Website: Go to the official application page for the Unlimited Cash Rewards card.
- See if You’re Pre-Qualified: We recommend using the pre-qualification tool first. It’s a quick way to check your approval odds without affecting your credit score.
- Fill Out the Application: The online application is short and easy to follow. You’ll need to provide some personal and financial information.
- Get a Quick Decision: In many cases, you’ll get a decision from Bank of America in just a minute.
Your Questions, Answered
- Is the 1.5% cash back rate a good deal?
Yes, it is very competitive for a no-annual-fee card. While some cards offer higher rates in specific categories, the beauty of this card is its simplicity and the fact that you earn a high, flat rate on everything. - What is the easiest way to use the cash back I earn?
The easiest way is to redeem it as a statement credit. There’s no minimum amount required, so you can apply any amount of cash back you’ve earned directly to your card’s balance at any time. - Do I have to be a Bank of America customer to get this card?
No, you do not. It is an excellent card for anyone, offering a great welcome bonus and a long 0% intro APR. However, if you are a Bank of America customer with significant balances, the Preferred Rewards bonus makes the card even more valuable. - Is this a good card to use when traveling?
It’s great for travel within the U.S. However, it does have a 3% foreign transaction fee, so it is not the best choice for making purchases in other countries. For international travel, you might consider the Bank of America® Travel Rewards card instead.
