Advertiser Disclosure

Many of the credit card offers that appear on this site are from credit card companies from which we receive financial compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). However, the credit card information that we publish has been written and evaluated by experts who know these products inside out. We only recommend products we either use ourselves or endorse. This site does not include all credit card companies or all available credit card offers that are on the market. See our advertising policy here where we list advertisers that we work with, and how we make money. You can also review our credit card rating methodology.

Bank of America Launches New Unlimited Cash Rewards Card

Jarrod West's image
Jarrod West
Jarrod West's image

Jarrod West

Senior Content Contributor

446 Published Articles 1 Edited Article

Countries Visited: 21U.S. States Visited: 24

Boasting a portfolio of over 20 cards, Jarrod has been an expert in the points and miles space for over 6 years. He earns and redeems over 1 million points per year and his work has been featured in o...

We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

There is no shortage of cash-back credit cards on the market, especially those that seek to reward you for every purchase you make with the card. But Bank of America has released its latest card to try and shake things up a bit, and the card is actually quite a solid option — especially if you’re a member of the Bank of America Preferred Rewards program.

Bank of America® Unlimited Cash Rewards Credit Card Details

Bank of America Unlimited Cash Rewards Card
Image Credit: Bank of America

Welcome Bonus: Newly approved cardholders can earn a $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of their account opening.

The Bank of America Unlimited Cash Rewards card is a no annual fee card that offers cardholders 1.5% cash-back on every $1 they spend on the card, with no annual limits to how much cash-back you can earn, and your cash-back rewards will never expire.

You’ll also receive convenient benefits like email or text account alerts and access to your FICO score updated monthly for free.

Hot Tip: How does the new Bank of America Unlimited Cash Rewards card compare to other cards offered by Bank of America? Check out our guide to the best Bank of America credit cards for cash-back and rewards to see our top picks!

Earn Up to 2.6% Back on All Purchases With No Annual Fee

Bank of America Preferred Rewards program woman on tablet
Preferred Rewards members can boost their rewards with the Bank of America Unlimited Cash Rewards card. Image Credit: Bank of America

Where the Unlimited Cash Rewards card really starts to get interesting is for those that are also members of the Bank of America Preferred Rewards program.

For those not familiar, Bank of America Preferred Rewards is the bank’s loyalty program that provides benefits like increased interest rates on your savings account, loan interest rate discounts, and a boost to your credit card rewards rate. The program has 3 tiers and provides the following rewards boost rates:

  • Gold (requires $20,000 in deposits) — 25% rewards bonus for 1.87% cash-back
  • Platinum (requires $50,000 in deposits) — 50% rewards bonus for 2.25% cash-back
  • Platinum Honors (requires $100,000 in deposits) — 75% rewards bonus for 2.62% cash-back

While there are many other no annual fee credit cards out there that offer 1.5% to 2% cash-back on all purchases, there are none that offer 2.25% to 2.62% cash-back on all purchases, making the Bank of America Unlimited Cash Rewards card an excellent option for Bank of America Preferred Rewards Platinum or Platinum Honors members who want to earn as much cash-back as possible.

Final Thoughts

If you’re someone that is focused on earning travel rewards, then the Bank of America Unlimited Cash Rewards card is definitely not for you. But if you prefer to earn cash-back rewards, and you’re looking for a no annual fee option that rewards you for all of your purchases, then the Bank of America Unlimited Cash Rewards card could be a stellar option for you — especially if you’re a Bank of America Preferred Rewards member.

Jarrod West's image

About Jarrod West

Boasting a portfolio of over 20 cards, Jarrod has been an expert in the points and miles space for over 6 years. He earns and redeems over 1 million points per year and his work has been featured in outlets like The New York Times.

INSIDERS ONLY: UP PULSE

Deluxe Travel Provided by UP Pulse

Get the latest travel tips, crucial news, flight & hotel deal alerts...

Plus — expert strategies to maximize your points & miles by joining our (free) newsletter.

We respect your privacy. This site is protected by reCAPTCHA. Google's privacy policy  and terms of service  apply.

Deluxe Travel Provided by UP Pulse
DMCA.com Protection Status