Bank of America Unlimited Cash Rewards Card: $200 Signup Bonus + 2%/3.12% Cashback During First Year

The Offer

Direct Link to offer

Bank of America added a new component to the signup bonus on the Unlimited Cash Rewards card:

New Offer: Unlimited 2% cash back – Earn 2% cash back on purchases for the first year from account opening. Thereafter, you’ll earn unlimited 1.5% cash back on all purchases.No limit to the amount of cash back you can earn.

Get $200 signup bonus after you spend $1,000 within 90 days.

0% Intro APR for your first 15 billing cycles for purchases, and for any balance transfers made within the first 60 days of opening your account.

Card Details

No annual fee

3% foreign transaction fee

Card earns 1.5% cash back on all purchases with no limit.Preferred Rewards Platinum Honors members will earn 2.62% on all purchases.Rewards do not expire.

Cash rewards can be redeemed as a statement credit to your credit or a deposit to your Bank of America checking, savings, or Merrill investing account.

Low Introductory APR Offer of 0% APR for your first 15 billing cycles for purchases, and for any balance transfers made within 60 days of opening your account.

After that, a Variable APR that’s currently 13.99% to 23.99% will apply.3% fee (min $10) applies to balance transfers.

Our Verdict

This card launched back in 2021 with the $200 signup bonus, and they’ve now added the extra .5% unlimited cashback during the first year.At the basic level this earns 1.5%+.5 = 2% which isn’t especially exciting.

More interesting is that this would amount to 3.12% unlimited cashback during the first year for those who are BofA top-tier relationship customers since the card earns 2.62% for them, and adding the .5% yields a 3.12% return.That will interest many people.

Check out these Things To Know About Bank of America credit cards before applying.

We’ll add this to our List of Best Current Credit Card Signup Bonuses.

Hat tip to reader Cc

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by mycardopinions.
Publisher: Source link

Your email address will not be published. Required fields are marked*

Frequently Asked Questions

Certainly. Unlike personal loans, you won't face any penalties for settling your balance ahead of schedule. However, it's crucial to keep in mind that if your credit card comes with a 0% introductory offer, it's essential to clear your balance completely before the 0% promotion expires and interest charges apply.

However, you can include additional cardholders, each with their own card. While sharing the single credit limit, the primary cardholder remains responsible for settling the debt.

Potentially, yes. Credit card APRs are typically variable, allowing lenders to change rates, impacting your monthly payments. Additionally, be mindful that introductory 0% offers can lead to higher interest rates once they expire. So, it's wise to clear your balance before that happens, if feasible.

Indeed, credit builder cards exist for those with less-than-ideal credit scores. These cards offer lower credit limits (typically £150 to £1,200) and higher interest rates. Responsible use, including full and on-time payments, can gradually boost your creditworthiness, potentially opening doors to better credit card offers down the line.