Earn $200 Back After Spending $1,000 With This Credit Card
KEY POINTS
- This Bank of America card offers a very attainable welcome bonus.
- The ideal cardholder is a Bank of America Preferred Rewards member, thanks to bonus cash rewards depending on membership tier.
I'm a big fan of Bank of America's credit cards -- they offer a lot of value and rewards are easy to use. One of the cash back options it offers is the Bank of America® Unlimited Cash Rewards credit card. This card has no annual fee, an easily attainable welcome bonus, and special rates for Bank of America Preferred Rewards members, so if that's you, this one is worth a closer look.
Bank of America® Unlimited Cash Rewards credit card
Featured offer: save money while you pay off debt with one of these top-rated balance transfer credit cards
On Bank of America's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn Bank of America's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 19.24% - 29.24% Variable APR on purchases and balance transfers will apply. A 3% for 60 days from account opening, then 4% fee applies to all balance transfers.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
19.24% - 29.24% (Variable)
Rewards
1.5% cash back
Annual Fee
$0
Welcome Offer $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
$200 cash rewards
-
This is a solid pick for one-card wallet seekers who want a straightforward, unlimited cash back card – plus a strong $200 bonus & 0% Intro APR offer. It’s a particularly good fit for Bank of America Preferred Rewards members, who can earn 25%-75% more points on every purchase, depending on your tier. Read Full Review
-
- Unlimited cash back
- Sign-up bonus
- No annual fee
- Great 0% intro APR offer
- No bonus categories
- Balance transfer fee
- Foreign transaction fee
-
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn unlimited 1.5% cash back on all purchases.
- If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 1.87%-2.62% cash back on every purchase with Preferred Rewards.
- No annual fee.
- No limit to the amount of cash back you can earn and cash rewards don’t expire as long as your account remains open.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
A worthy welcome bonus
One of my favorite features of Bank of America cards is that welcome bonuses are generally pretty achievable without a ton of spending. The Bank of America® Unlimited Cash Rewards credit card is no exception. Spend $1,000 in the first 90 days with the card, and a cool $200 in cash rewards can be yours. That's a nice chunk of change for not much spending -- if you have a bigger bill (perhaps a car repair?) coming up, you could probably cover it in one fell swoop.
Alternatively, you could shift some of your regular spending to it for the first three months, and would only need to hit a target of $333.33 per month (give or take) to reach that bonus. And this bonus could reduce the cost of your next bill if you redeem it as a statement credit.
Other features
It's never a good idea to choose a new credit card based solely upon its welcome bonus -- ideally, you're choosing a card to stick with for the long haul. So what else can you expect from this Bank of America credit card?
If you want flat-rate cash rewards, this card has you covered. You can earn 1.5% back on every purchase, across the board, no limits. There aren't any bonus rewards categories, but good news for you if you're a Bank of America Preferred Rewards member! Depending on your rewards tier (which is tied to how much money you have with the bank, either in bank accounts or Merrill investment accounts), you get a boost to the cash rewards rate.
| Preferred Rewards tier | Combined Minimum Balance | Bonus Cash Rewards | Cash Rewards Rate |
|---|---|---|---|
| Gold | $20,000-$49,999 | 25% | 1.87% |
| Platinum | $50,000-$99,999 | 50% | 2.25% |
| Platinum Honors | $100,000 and up | 75% | 2.62% |
Being a Preferred Rewards member makes this card a lot more attractive, as you can see.
On Bank of America's Secure Website.
= Best
= Excellent
= Good
= Fair = Poor
= Best
= Excellent
= Good
= Fair = PoorOn Bank of America's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 19.24% - 29.24% Variable APR on purchases and balance transfers will apply. A 3% for 60 days from account opening, then 4% fee applies to all balance transfers.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
19.24% - 29.24% (Variable)
Rewards
1.5% cash back
Annual Fee
$0
Welcome Offer $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
$200 cash rewards
-
This is a solid pick for one-card wallet seekers who want a straightforward, unlimited cash back card – plus a strong $200 bonus & 0% Intro APR offer. It’s a particularly good fit for Bank of America Preferred Rewards members, who can earn 25%-75% more points on every purchase, depending on your tier. Read Full Review
-
- Unlimited cash back
- Sign-up bonus
- No annual fee
- Great 0% intro APR offer
- No bonus categories
- Balance transfer fee
- Foreign transaction fee
-
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn unlimited 1.5% cash back on all purchases.
- If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 1.87%-2.62% cash back on every purchase with Preferred Rewards.
- No annual fee.
- No limit to the amount of cash back you can earn and cash rewards don’t expire as long as your account remains open.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Is the Bank of America® Unlimited Cash Rewards credit card right for you?
If you're hoping for flat-rate cash rewards (this can be great if you don't want to mess with a complicated rewards program), consider it. Note that it's not a great fit if you want a card to travel with, as it charges a foreign transaction fee of 3%. In all honesty, this card is best for those who are Bank of America Preferred Rewards members. Are you one? This card could be a welcome addition to your wallet.
Alert: our top-rated cash back card now has 0% intro APR until 2025
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee! Click here to read our full review for free and apply in just 2 minutes.
Our Research Expert
Ashley Maready changed careers from museum operations and management to writing and editing in 2021. She has a passion for teaching others about better living through improving your finances.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
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