Bank of America offers 4 main credit cards in the general consumer credit card market. Below we rank & review these cards, plus offer a few words about special cards like those for students or those with bad credit/no credit.
Bank of America Cash Rewards Visa – While we rank this Bank of America credit card first, it’s not by much, and we overall think this card is only OK when compared to other cash back credit cards. You’ll get 3% cash back on your gas purchases with this card, 2% back at grocery stores and wholesale clubs, and 1% back on everything else. Note that there is a cap on the earnings in the categories above 1% — if you hit $2500 in combined gas/grocery store/wholesale club purchases in a calendar quarter, any further purchases in those categories would earn 1%. The $2500 threshold is pretty high, so you probably won’t hit it, but it’s worth noting. You can earn a $200 bonus if you use the card for at least $500 in purchases in the first 90 days after you are approved. No annual fee. You also get a 0% interest rate on new card purchases for the first 12 months, and a 0% rate on any transferred balances from other cards for 12 months. However, note that balance transfers incur a one-time fee of 3% of the amount transferred. As mentioned earlier, this is an OK cash back card, but not the best.