The Best Bank of America Credit Cards For Cash-Back and Rewards

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You have to admire the diverse line up of credit cards offered by Bank of America. This established financial institution seems to offer a credit card that will 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.

Best Bank of America Credit Card For Earning Rewards

The Bank of America Premium Rewards Credit 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 Credit 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 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.

Bank of America Rewards Credit CardBenefitsDrawbacks
Bank of America® Premium Rewards Credit Card
  • 50,000 bonus points after spending $3,000 in purchases in first 90 days
  • Earn 2 points per dollar on travel and dining
  • Earn 1.5 points per dollar on all other purchases
  • Flexible redemption options: statement credit, deposit to an eligible bank account, gift cards, travel via Bank of America Travel Center
  • $200 statement credit for airline incidental fees and airport expedited screening
  • Travel and purchase benefits and protections
  • No foreign transaction fees
  • Points are not transferable to any travel partners such as hotel or airline programs
  • $95 annual fee

Bottom Line: Although the Bank of America Premium Rewards Credit Card earns rewards on every purchase, it functions well as a travel rewards credit card with its bonus earnings on travel and travel redemption options

Best Bank of America Credit Cards for Travel

In contrast to the Bank of America Premium Rewards Credit Card, the Bank of America Travel Rewards Credit 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 your points for a statement credit against your travel purchases at a rate of 1 cent per point.

The Travel Rewards Credit Card and the Travel Rewards for Students cards are identical.

Bank of America® Credit Cards for TravelBenefitsDrawbacks
Bank of America® Travel Rewards Credit CardBank of America® Travel Rewards for Students
  • 20,000 bonus points after spending $1,000 in the first 90 days
  • Earn 1.5 points per dollar on all purchases
  • Redeem points for a statement credit against travel purchases
  • 0% APR for the first 12 billing cycles on purchases
  • Free FICO score access
  • No annual fee
  • Statement credits can only be redeemed for travel purchases
  • No bonus points for travel purchases

 

Cairo-pyramids
A Bank of America rewards-earning credit card can help you check a long-awaited trip off your bucket list. Image by Christine Krzyszton.

Best Bank of America Airline Credit Cards

Bank of America® Airline Credit Card BenefitsDrawbacks
Alaska Airlines Visa Signature® Credit Card
  • Earn 30,000 bonus miles and a $99 Companion Fare ticket (plus taxes) after spending $1,000 in first 90 days
  • Earn 3 miles per dollar spent directly with Alaska Airlines and Virgin America
  • Earn 1 mile per dollar spent all other purchases
  • $99 Companion Fare ticket each card anniversary
  • Free checked bag for cardholders and 6 others on same reservation
  • $75 annual fee
  • Miles redemption options are limited to Alaska and partner airlines
  • Must be a frequent Alaska Airlines flyer to maximize the benefits of the card
Allegiant World Mastercard®
  • Earn 15,000 bonus points after spending $1,000 in first 90 days
  • 3 points per dollar on Allegiant Airline purchases, 2 points per dollar on dining purchases, 1 point per dollar on all other purchases
  • $59 annual fee
  • For Allegiant flyers only
  • Limited redemption options
Spirit Airlines Mastercard®
  • Earn 15,000 bonus miles after your first purchase
  • Earn 2 miles per dollar on all purchases
  • Redeem miles for flights starting at 2,500 miles one-way.
  • $59 annual fee, waived the first year
  • For Spirit flyers only
  • Limited redemption options
Virgin Atlantic Mastercard®
  • Earn 20,000 miles after first purchase
  • 3 miles per dollar spent on Virgin Atlantic
  • 1.5 miles per dollar all other purchases unlimited
  • Earn up to 5,000 miles for adding authorized users
  • $90 annual fee
  • For Virgin Atlantic flyers only
  • Limited redemption options
Asiana Visa Signature®
  • 30,000 miles after spending $3,000 in first 90 days
  • 3 miles per dollar spent with Asiana Airlines
  • 2 miles per dollar spent on gas and at grocery stores
  • 1 mile per dollar spent on all other purchases
  • Every year, you receive: 10,000 bonus miles, 2 lounge passes, and $100 Asiana Airline credit
  • $99 annual fee
  • For Asiana flyers only
  • Limited redemption options

One of the most popular Bank of America credit cards is the Alaska Airlines Visa Signature Credit Card. It usually offers a generous sign-up bonus and its $99 companion fare benefit is 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.

While all of Bank of America’s airline credit cards charge an annual fee, the initial sign-up 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.

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.

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.

Bank of America® Credit Card for Cash-Back BenefitsDrawbacks
Bank of America® Cash Rewards

Bank of America® Cash Rewards for Students

  • $150 cash rewards after spending $500 in first 90 days
  • 3% cash-back on gas, 2% cash-back at grocery stores and wholesale clubs for the first $2,500 in combined purchases each quarter
  • 1% cash-back all other purchases
  • 0% APR period for 12 billing cycles on both purchases and balance transfers made within the first 60 days after card approval
  • No annual fee
  • Bonus categories limited to $2,500 in purchases per quarter
  • Must spend on gas, groceries, and wholesale clubs to maximize the card’s rewards
  • 3% balance transfer fee or $10, whichever is greater

Best Bank of America Credit Cards for Small Businesses

Small business can accumulate rewards points and cash-back quickly by paying business expenses with a Bank of America® business credit card.

Bank of America® Credit Card for Small BusinessBenefitsDrawbacks
  • Earn 25,000 bonus points after spending $1,000 in the first 60 days
  • Earn 3 points per dollar on travel booked through the Bank of America® Travel Center
  • Earn unlimited 1.5 points per dollar on all purchases
  • No annual fee and no foreign transaction fees
  • 0% APR on purchases for first 9 billing cycles
  • Limited bonus earning categories
Business Advantage Cash Rewards Mastercard®
  • $200 statement credit after spending $500 in first 60 days
  • Earn 3% cash-back at gas stations and office supply stores (up to $250,000 each calendar year), 2% cash-back at restaurants, and unlimited 1% cash-back on all other purchases
  • No annual fee
  • 0% APR on purchases for first 9 billing cycles
  • Not for businesses who have a lot of travel expenses
Alaska Airlines Visa Business Card®
  • Earn 30,000 bonus miles and a $99 Companion Fare ticket (plus taxes) after spending $1,000 in first 90 days
  • Earn 3 miles per dollar spent directly with Alaska Airlines and Virgin America
  • Earn 1 mile per dollar on all other purchases
  • $99 Companion Fare ticket at every card anniversary
  • Free checked bag for cardholders and 6 others on same reservation
  • $50 annual fee per company, $25 per card (Business Level Earning Plan)
  • $0 annual fee per company, $75 per card (Individual Level Earning Plan)

The Alaska Airlines Visa Business Card is a favorite with a generous sign-up bonus and $99 annual Companion Fare ticket (plus taxes). If you fly Alaska Airlines or Virgin America even 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 Business Advantage Cash Rewards Mastercard® with its 3% cash-back in that spending category. Or if your business spends a lot of travel, the Business Advantage Travel Rewards World Mastercard® might be a better fit.

For example, since the Business Advantage Travel Rewards World Mastercard® 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.

You can access our expert guide for a complete selection of the best business credit cards.

Blue-for-Business-Amex-Budgeting
Credit cards that offer a 0% APR for purchases or balance transfers can save you plenty as you won’t be charged interest during the introductory 0% APR period. Image courtesy of Shutterstock.

Best Bank of America Introductory 0% APR Credit Cards

It’s always helpful when you can spread out the repayment of a large purchase, or even several purchases, over time without having to pay interest charges. It’s equally helpful to transfer high-interest credit card balances and pay off the debt without incurring interest charges.

Bank of America offers several options that allow you to save on interest charges for purchases and balance transfers with introductory 0% APR periods.

Bank of America Credit Card with 0% APR0% APR Period for Purchases0% APR Period for Balance Transfers and Fees
BankAmericard® 

  • 0% APR for 15 billing cycles

 

  • 0% APR for 15 billing cycles, no transfer fee if the balance is transferred with the first 60 days of account opening
  • After 60 days, transferring balances incurs a 3% or $10 minimum fee, whichever is greater
Bank of America® Travel Rewards Credit Card
  • 0% APR for 12 billing Cycles
  • N/A
Bank of America® Cash Rewards Card
  • 0% APR for 12 billing cycles
  • 0% APR for 12 billing cycles if the balance is transferred within 60 days of account opening
  • 3% balance transfer fee or $10, whichever is greater
Allegiant World Mastercard®
  • N/A
  • 0% APR for 12 billing cycles if the balance is transferred within 60 days of account opening.
  • 3% balance transfer fee or $10, whichever is greater.
Business Advantage Travel Rewards World Mastercard®

Business Advantage Cash Rewards Mastercard®

  • 0% APR for 9 billing cycles
  • N/A
Platinum Visa Business
  • 0% APR for 7 billing cycles
  • N/A

Hot Tip: Finding a credit card with an introductory 0% APR period for balance transfers is not difficult. However, finding a 0% APR period offer without any transfer fees is uncommon, as transfer fees usually range from 3-5% of the amount transferred. Selecting the BankAmericard® with no transfer fees in the first 60 days after account opening can result in considerable savings. 

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. Fortunately, Bank of America offers a large selection of credit cards with no annual fees.

  • Business Advantage Travel Rewards World Mastercard®
  • Business Advantage Cash Rewards Mastercard®
  • Bank of America® Cash Rewards Card
  • BankAmericard®
  • Bank of America® Travel Rewards Card
  • Susan G. Komen Cash Rewards Visa Credit Card from Bank of America®
  • MLB® Mastercard
  • World Wildlife Fund Visa
  • U.S. Pride® Visa
  • Norwegian Cruise Line® Mastercard
  • Royal Caribbean® Visa Signature®
  • Bank of America® Cash Rewards for Students
  • Bank of America® Travel Rewards for Students
  • Bankamericard® for Students

Bottom Line: You don’t have to pay an annual fee to get a rewards-earning credit card with 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® Card for Building CreditBenefitsDrawbacks
BankAmericard® Secured
  • A minimum refundable security deposit of $300 (maximum of $4,900) 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 security deposit refunded
  • Reports to all 3 major credit bureaus
  • Free FICO score access
  • $39 annual fee
  • Doesn’t earn rewards
  • Security deposit required
BankAmericard® for Students
  • 0% APR for 15 billing cycles for purchases
  • 0% APR for 15 billing cycles for balance transfers made within 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

While neither of these credit cards are rewards-earning credit cards, 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
  • Bank of America® Cash Rewards for Students
  • Bank of America® Travel Rewards
  • Bank of American® Travel Rewards for Students

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 2-3 points per dollar spent on the card, so you’re receiving good value.

Hot Tip: If you have a card such as the Business Advantage Travel Rewards World Mastercard 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

  • 10% bonus on cash-back: If you have a banking 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® investment, you may qualify for the Preferred Rewards Program and receive a 25-75% 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 all of 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 are, however, an endless variety of cards available in the marketplace for consumers and businesses.

You should use the Card Match tool to see if there are any credit card offers that have already been matched to your profile or use our complete guide to finding personal pre-qualified 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.

FAQ

Which Bank of America credit card is the best?

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.

Are there transactions that don't earn points or cash-back?

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 goes without saying that fraudulent transactions do not earn rewards

How do sign-up bonuses work?

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 required spending by the deadline will result in you not getting the sign-up bonus, so it's important to meet the spending requirement well in advance.

How does a 0% APR period work?

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 fees for balance transfers. However, the BankAmericard® does not charge these transfer fees, making it a good choice for this type of transaction.

How much are Bank of America rewards points worth?

The rewards points you earn on Bank of America credit cards generally have a redemption value of one cent per point. However, since you can earn points at the rate of as much as 3 points per dollar spent on the card, you're receiving good value at one 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.

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