Review: Bank of America Credit Cards

bankamericardBelow is a rundown of credit cards currently available from Bank of America, with short reviews of each:

  • BankAmericard – Bank of America’s flagship credit card offers lower interest rates than its other cards (11.24% to 21.24% depending on your credit history), plus a 0% interest rate on any balances you transfer to the card for 18 billing cycles. (There is a 3% fee on balance transfers, however.) This card offers no rewards. (Compare this card to other low interest credit cards.)
  • bofacashrewardsccBankAmericard Cash Rewards Credit Card – Bank of America cash back credit card offers 3% rebates on gas, 2% back on groceries, and 1% everywhere else. Gas and Groceries are considered “bonus” categories, and if you hit $2500 in spending in those categories (combined) in a calendar quarter, further purchases will earn you the 1% cash back rate. No annual fee. Last we looked, this card was also offering a 0% rate on card purchases and balance transfers (3% fee on balance transfers, though) for the first 12 months you have the card. (Compare this card to other cash back credit cards.)


  • better-balance-smallBankAmericard Better Balance Rewards MasterCard – This is an unorthodox rewards credit card — instead of being rewarded for your spending, you actually get rewards for paying on time and paying more than the minimum payment. Specifically, you get $25 each calendar quarter if you’ve paid on time and more than the minimum. You can also get an extra $5 each quarter if you have other Bank of America accounts. Click here for a lengthier review of this card. (Compare this card to other cash back credit cards.)
  • bofatravelsmallBankAmericard Travel Rewards Visa – This Bank of America credit card offers 1.5 points per dollar charged, and you use your points to offset or pay completely for travel purchases you make with the card via a statement credit. Points are worth a penny each — meaning 10,000 points would offset $100 in travel purchases, for example. No annual fee for the card. (Compare this card to other travel credit cards.)
  • bofa-securedBankAmericard Secured Credit Card – If you have a bad credit history but hope to rebuild it — or you have no credit history at all and can’t get accepted for a credit card, you might try this “secured” credit card from Bank of America. In essence, a secured credit card takes a security deposit from you — in this case, between $300 and $4900 depending on your wishes — and your credit line is equal to the amount you’ve deposited. If you use the card responsibly, Bank of America may return your deposit after a year and the card would become a standard, unsecured credit card. This card has a $39 annual fee in addition to the security deposit. (You don’t get the annual fee back, though.) (Compare this card to other secured credit cards.)
  • BankAmericard for Students – Bank of America’s standard student credit card offers an interest rate as low as 11.24% and as high as 21.24%. Like the standard BankAmericard, this student card offers a 0% interest rate on balance transfers (3% fee on any balance transfers, though) for the first 18 months.
  • BankAmericard Cash Rewards for Students – Like the standard BankAmericard Cash Rewards card, this one for students offers 3% rebates on gas, 2% back on groceries, and 1% everywhere else.
  • BankAmericard Travel Rewards for Students – Like the standard BankAmericard Travel Rewards card, this one for students offers 1.5 points per dollar and points can be used to pay for travel.

See also: Instant Approval Credit Cards, Which is the best credit card?, Bank of America Credit Card Payment, Login, and Customer Service Information

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