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Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, deta...
Juan has been involved in credit cards, loyalty, travel, and personal finance for more than 10 years. He has worked for several outlets including The Points Guy and Forbes and was previously Editor-in...
With years of experience in corporate marketing and as the Executive Director of the American Chamber of Commerce in Qatar, Keri is now Editor-in-Chief at UP, overseeing daily content operations and r...
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You have to admire the diverse lineup of credit cards offered by Bank of America. This established financial institution seems to offer a credit card to suit just about any consumer or small-business owner.
Whether you’re looking for a travel or rewards-earning credit card to fund your next family vacation, an airline-branded card, credit cards that earn cash-back, or cards for your small business, Bank of America has a card that will fit your spending profile.
You’ll also find cards for consumers just starting out, cards with no annual fees, and 0% APR period cards that help you repay a large purchase over time or transfer balances from high-interest credit cards.
Allow us to help you sort through the extensive collection of credit cards that Bank of America has to offer and give you our suggestions for credit cards in each category.
For a limited time, earn 70,000 bonus miles plus Alaska’s Famous Companion Fare™ from $121 ($99 fare plus taxes and fees from $22) after spending $3,000 within the first 90 days of opening your account
Annual fee of $95
3x miles per $1 spent on Alaska purchases
Annual companion fare
Free checked bag for you and up to 6 traveling companions
20% back on Alaska inflight purchase
Allegiant World Mastercard®
Earn 15,000 Bonus Points after spending $1,000 in the first 90 days of account opening
Annual fee of $59
Buy 1, get 1 free airfare — when you use your card to purchase a vacation package from Allegiant with 4 or more hotel nights or 7 or more rental car days on the same itinerary
3x points per $1 on Allegiant purchases (air, hotel, and car rental)
2x points per $1 on qualifying dining purchases
Free Spirit® Travel Mastercard®
Earn 10,000 Bonus Points after spending $500 in the first 90 days of account opening
Annual fee of $0
2x points per $1 on Spirit purchases
25% rebate on all inflight food and beverage purchases
Automatic Zone 2 Shortcut boarding on all flights
5,000 bonus points each anniversary after making at least $10,000 in purchases within the prior anniversary year
Earn $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
$0
3% cash-back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings (your category can be changed each month)
2% cash-back at grocery stores and wholesale clubs
Earn a $200 cash rewards bonus after spending $1,000 in the first 90 days of account opening
Annual fee of $0
1.5% cash back on all purchases
0% Intro APR for your first 18 billing cycles for purchases, and for any balance transfers made within the first 60 days of opening your account.
Best Bank of America Credit Card for Earning Rewards
The Bank of America® Premium Rewards® Card is a solid rewards-earning credit card that holds its own in the market against similar cards such as the Chase Sapphire Preferred® Card. While the Bank of America Premium Rewards card has travel and dining as its bonus-earning categories, that’s just icing on the cake because you earn 1.5 points per dollar on all other purchases.
Although the card is marketed as a rewards credit card with an everyday earning at a rate of 1.5 points per dollar, it functions more like a travel rewards card. It earns 2 points per dollar spent on travel (and dining), and you can redeem your points for travel via the Bank of America Travel Center. Or, you can purchase your travel elsewhere, earn 2 points per dollar, and redeem your points for a statement credit against your purchase.
You’ll have several other options at redemption time, including statement credits, gift cards, or 1 cent per point transferred to an eligible Bank of America bank account.
One big drawback of the card is that the points are not transferable to any travel partners such as hotel or airline programs.
Bottom Line: Although the Bank of America Premium Rewards card earns rewards on every purchase, its bonus earnings on travel and travel redemption options make it a great travel rewards credit card.
Best Ultra-premium Bank of America Credit Card
One of Bank of America’s newest credit cards is an ultra-premium product. The Bank of America® Premium Rewards® Elite Credit Card is currently offering a generous welcome bonus and has great ongoing rewards and benefits for its cardholders.
This credit card earns 2x points on travel and dining with no caps, as well as 1.5x points on other purchases. It also offers up to $550 in automatic statement credits:
$300 in airline incidentals statement credits
$150 for lifestyle conveniences such as streaming, food delivery, fitness subscriptions, and rideshare services
You’ll enjoy a complimentary Priority Pass Select membership, as well as our personal favorite travel benefit from this card: a 20% savings on domestic or international airfare when you pay with points.
Therefore, you can get up to 1.25 cents per point of value. And with the ability to earn up to 3.5x points when leveraging the maximum 75% rewards bonus from Preferred Rewards, you’d get a return on spending of up to 4.375% without having to worry about searching for award availability!
Best Bank of America Credit Cards for Travel
In contrast to the Bank of America Premium Rewards card, Bank of America travel rewards cards do not earn bonus points on travel purchases. The cards do, however, earn 1.5 points per dollar spent on all purchases.
When it comes time to redeem your points, you can redeem them for a statement credit against your travel purchases at a rate of 1 cent per point.
Note that statement credits can only be redeemed for travel purchases and there are no bonus points for travel purchases.
Best Bank of America Airline Credit Cards
The airline credit cards offered by Bank of America are designed specifically for consumers frequenting the branded airline, as those are the consumers who will benefit the most from using these cards.
While all of Bank of America’s airline credit cards typically charge an annual fee, the initial welcome bonus typically offsets the annual fee in the first year. Beyond the first year, you’ll have to determine the card’s value based on how many miles you’ve earned and whether the benefits outweigh the ongoing annual fee.
One of the most popular Bank of America credit cards is the Alaska Airlines Visa Signature® Credit Card. It usually offers a generous welcome offer and its Famous Companion Fare benefitis a favorite among Alaska Airlines flyers. Also, Bank of America does not limit receiving the sign-up bonus to once in a lifetime as some other card issuers do.
Best Bank of America Credit Cards for Cash-back
Cash-back is the most flexible type of reward you can earn, and these cards make it easy to start earning cash-back on every purchase you make. If you spend $2,500 per quarter at gas stations, grocery stores, and wholesale clubs, you’ll maximize the bonus category earnings on these cards.
Best Bank of America Credit Cards for Small Businesses
Earn a $300 statement credit online bonus after you make at least $3,000 in net purchases in the first 90 days of your account opening.
Unlimited 1.5% cash-back on all purchases
No annual fee and no foreign transaction fees
Limited bonus-earning categories
The Alaska Airlines Business card is a favorite with a generous welcome bonus and a $99 annual Companion Fare ticket (plus taxes). If you fly Alaska Airlines a few times a year, the card could make sense for your business, as miles will add up quickly.
You’ll want to pay close attention to the bonus-earning categories on these cards to make sure they match up with the mix of your spending for business expenses.
If your business spends a lot at gas stations, you might consider the Bank of America Business Advantage Customized Cash card with its 3% cash-back in that spending category. Or if your business spends a lot on travel, the Bank of America Business Advantage Travel card might be a better fit.
For example, since the Bank of America Business Advantage Travel card earns 3 points per dollar spent on travel via the Bank of America Travel Center, your business can purchase travel there, then subsequently redeem points for a statement credit to offset the travel expense.
If you’re mainly looking for a no-fuss, flat-rate cash-back card, then earning 1.5% cash-back on every purchase you make with the Bank of America Business Advantage Unlimited Cash card would be a great choice.
Best Bank of America Credit Cards With No Annual Fee
Annual credit card fees can add up quickly, so if you can find a card that earns rewards, cash-back, or other valuable benefits and it doesn’t charge an annual fee, that’s a big positive. Bank of America offers a large selection of credit cards with no annual fees:
BankAmericard® Credit Card
BankAmericard® Credit Card for Students
Bank of America Business Advantage Customized Cash card
Bank of America Business Advantage Travel card
Bank of America Cash Rewards card
Bank of America Cash Rewards Student card
Bank of America Travel Rewards card
Bank of America Travel Rewards Student card
Bank of America Unlimited Cash Rewards card
Bank of America Unlimited Cash Rewards Credit Card for Students
MLB® Mastercard
Norwegian Cruise Line® World Mastercard®
Royal Caribbean Visa Signature® Card
Susan G. Komen Cash Rewards Visa Credit Card from Bank of America®
U.S. Pride® Visa
Bottom Line: You don’t have to pay an annual fee to get a rewards-earning credit card from Bank of America.
Best Bank of America Cards for Building Credit
If you’re just starting out or trying to rebuild your credit, Bank of America has a few cards in its portfolio that can help you accomplish your credit objective.
Bank of America Cards for Building Credit
Benefits
Drawbacks
BankAmericard for Students
0% APR for 21 billing cycles for purchases
0% APR for 21 billing cycles for balance transfers made within the first 60 days of card approval
Use the card responsibly and build up your credit history
Free FICO score access
No annual fee
Balance transfer fee 3% or $10, whichever is greater
Doesn’t earn rewards
BankAmericard® Secured Credit Card
A minimum refundable security deposit of $200 (maximum of $5.,000) is required; your credit limit will be determined by your security deposit, income, and ability to pay
Your account will be reviewed periodically and you may qualify to have your security deposit refunded
Reports to all 3 major credit bureaus
Free FICO score access
No annual fee
Doesn’t earn rewards
Security deposit required
While neither of these credit cards is a rewards-earning credit card, they do offer a path to building or rebuilding your credit. Once you’ve managed either of these cards successfully, you may be able to elevate to the next level and secure one of Bank of America’s rewards cards including:
Bank of America Cash Rewards card
Bank of America Cash Rewards Student card
Bank of America Travel Rewards card
Bank of America Travel Rewards Student card
Bank of America Unlimited Cash Rewards card
Bank of America Unlimited Cash Rewards Student card
You’ll notice that the wide range of credit card options offered by Bank of America can fit nearly every financial situation, from starting out to earning valuable rewards that bring perks, benefits, and even free travel.
Everything Else You Need To Know About Bank of America Credit Cards
Redeeming Rewards
Bank of America offers flexibility to redeem points for cash-back, gift cards, travel, or bonus cash-back when you transfer your cash into one of your Bank of America-associated accounts.
Points earned on your Bank of America rewards-earning credit card can be redeemed for 1 cent per point. In many cases, you’re earning 2 to 3 points per dollar spent on the card, so you’re receiving good value.
Hot Tip: If you have a card such as the Bank of America Business Advantage Travel card that earns 3 points per dollar on travel purchased through Bank of America Travel Center, you can purchase travel and earn 3 points per dollar and redeem points at 1 cent per point for a statement credit to cover that purchase.
Relationships Matter
Cash-back 10% bonus: If you have a bank account with Bank of America, the reward benefits that come with your Bank of America credit cards may receive a bonus. Cardholders who have a Bank of America checking or savings account, 529, or Merrill Lynch account can receive a 10% bonus when redeeming cash-back into an eligible account.
Preferred Rewards Program: If you have $20,000 or more in qualifying Bank of America deposit accounts or Merrill Edge and Merrill Lynch investments, you may qualify for the Preferred Rewards program and receive a 25% to 75% rewards bonus on your Bank of America credit card.
Bank of America Credit Card Features, Protections, and Managing Your Account
Your Bank of America credit card will come with these basic features and benefits:
Paperless credit card statements
Chip-enabled technology
Custom account alerts for payments due, payments received, balances, and more
Online and mobile banking
Digital wallet using Apple Pay, Google Pay, and Samsung Pay
Free FICO score access
Bank of America Shopping Protections and Benefits
Most Bank of America cards will offer these additional benefits:
Fraud detection and $0 liability for fraudulent transactions
ShopSafe service generates a temporary credit card number when shopping online
Return protection
Warranty manager service
Purchase security
Bank of America Travel Protections and Benefits
Premium Bank of America credit cards will offer additional travel protections and benefits:
Upgrades and luxury perks and benefits when redeeming rewards with the Visa Signature Luxury Hotel Collection
Concierge service
Auto rental collision damage waiver
Trip delay and reimbursement
Trip cancellation or interruption
Baggage delay protection
Lost luggage reimbursement
Roadside dispatch program
Travel and emergency assistance services
Common carrier travel accident insurance
Emergency evacuation and transportation coverage
To determine which Bank of America benefits and protections come with the Bank of America card you’re considering, you’ll need to access the specific card summary or cardholder agreement. Complete details are provided in your new account materials.
Final Thoughts
If Bank of America was the only credit card issuer available, you could still find a card that fits your purchasing and earning preferences. There is, however, an endless variety of cards available in the marketplace for consumers and businesses.
You should use the CardMatch tool to see if there are any credit card offers that have been matched to your profile, or use our complete guide to finding personal prequalified and pre-approved offers from credit card issuers to see your existing offers.
Narrowing the selection of cards that fit your situation is essential to select a credit card that maximizes the benefits, earnings, and rewards you ultimately receive on the card.
The information regarding the Bank of America® Travel Rewards Credit Card for Students, Bank of America® Unlimited Cash Rewards Credit Card for Students, Bank of America® Business Advantage Travel Rewards Card, BankAmericard® Credit Card for Students, Susan G. Komen Cash Rewards Visa Credit Card from Bank of America®, MLB® Mastercard, Norwegian Cruise Line® World Mastercard®, Royal Caribbean Visa Signature® Card, U.S. Pride® Visa and BankAmericard® Secured Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Bank of America® Premium Rewards® credit card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Bank of America® Premium Rewards® Elite Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Bank of America® Travel Rewards credit card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Alaska Airlines Visa Signature® credit card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Allegiant World Mastercard® was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Free Spirit® Travel Mastercard® was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Free Spirit® Travel More World Elite Mastercard® was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Bank of America® Customized Cash Rewards credit card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Bank of America® Unlimited Cash Rewards was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding Alaska Airlines Visa® Business Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Bank of America® Business Advantage Unlimited Cash Rewards was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the BankAmericard® Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
Featured Image Credit: Roman Tiraspolsky - stock.adobe.com
Frequently Asked Questions
The best Bank of America credit card for you will be the one that matches your spending habits and rewards preferences.
If you prefer cash-back rewards, for example, you’ll want to select a cash-back earning credit card that rewards the category of purchases on which you spend the most.
If you like to travel, you’ll want to select a credit card that earns points on travel purchases and allows you to redeem those points for travel at a good value.
Any balance transfers or cash advances that you make on your credit card do not earn points or cash-back. If you purchase travelers checks, money orders, or other cash equivalents, you will not earn points or cash-back.
Additionally, any fees or interest charges you pay on the credit card do not earn rewards. And it should go without saying that fraudulent transactions do not earn rewards.
Many credit cards come with generous sign-up bonuses after you spend a specific amount on the card within a certain period of time.
For example, a sign-up bonus of 20,000 miles after spending $1,000 in the first 90 days means that you will need to spend $1,000 in net purchases, minus any returns, within the first 90 days after the date you were approved for the credit card.
Failing to reach the bonus’ spending requirement by the deadline will result in you not getting the sign-up bonus, so it’s good to meet the requirement well in advance.
Bank of America credit cards that offer a 0% APR period for purchases and balance transfers can save you money because you won’t be charged interest during the 0% APR period.
A 0% APR period means that any purchases you make or balances you transfer from your high-interest credit cards during the specified period will not be charged interest. Any purchase or balance transfer that is not paid off when the period expires will incur interest charges.
Most credit cards charge one-time fees for balance transfers, usually ranging from 3% to 5%.
The rewards points you earn on Bank of America credit cards generally have a redemption value of 1 cent per point. However, since you can earn points at the rate of as much as 5.25 points per dollar spent on the card if you also participate in Preferred Rewards, you’re receiving good value at 1 cent per point.
There are point redemptions that yield less than 1 cent per point, so you’ll want to select the redemption that yields the best value. For example, a $25 gift card may cost 3,500 points, but a $250 gift card might cost 25,000 points.
Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.
Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.
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