Bank of America offers multiple credit cards for different spending patterns and financial goals

Bank of America issues cards in three main categories: rewards cards that return cash or points on purchases, travel cards that emphasize airline and hotel benefits, and cards designed for people building or rebuilding credit. The card you choose depends on how much you spend, what you spend on, and whether you value rewards, travel perks, or a lower barrier to entry.

Each card carries its own annual fee (or no fee), earning structure, and welcome offer. The earning rates and benefits do not change based on your credit score once you are approved — they are the same for everyone who holds that card. Your credit score determines whether you are approved and what interest rate you receive, but not what the card itself does.

Key Takeaways

  • Bank of America's rewards cards earn cash back or points on specific categories like groceries, gas, and dining, with higher rates if you have a Bank of America checking or savings account.
  • The Bank of America Travel Rewards card earns points on all purchases and has no annual fee, making it useful for people who travel occasionally but do not want to pay for premium benefits.
  • Bank of America's secured card is designed for people with limited or damaged credit history and requires a cash deposit that becomes your credit limit.
  • Welcome offers vary by card and change frequently, so the current offer for the card you are considering may differ from what you see in older articles or advertisements.
  • Bonus points or cash back from a welcome offer are only paid if you meet the spending requirement within the specified timeframe, usually three to six months.

Rewards cards: earning on everyday spending

Bank of America's Cash Rewards card earns cash back in rotating categories: 3% on one category that changes quarterly (such as groceries or gas), 2% at gas stations and grocery stores, and 1% on everything else. You choose which category gets the 3% rate each quarter, or it defaults to one if you do not select. This card has no annual fee.

The Premium Rewards card earns 2% cash back on all purchases with no category rotation. It also has no annual fee. The trade-off is simpler: you earn less in the rotating 3% categories but do not have to manage quarterly selections.

Both cards offer a bonus to your earning rate if you maintain a Bank of America checking or savings account with a may have access to balance. The bonus typically adds 25% to 50% more to your cash back, though the exact bonus changes. You can check the current bonus on Bank of America's website or by calling their customer service line.

Travel rewards card: points on all purchases

The Travel Rewards card earns 1.5 points per dollar on all purchases, with no category restrictions and no annual fee. Points can be redeemed for travel (flights, hotels, rental cars, cruises) or converted to cash at a fixed rate, usually 1 point equals 1 cent.

This card is useful if you travel a few times a year but do not want to pay an annual fee for premium benefits like airport lounge access or travel insurance. The earning rate is lower than category-specific cards if you spend heavily in bonus categories, but higher if your spending is spread across many merchants.

The card includes trip cancellation insurance, lost luggage reimbursement, and emergency medical and dental coverage while traveling outside the United States. These benefits are secondary coverage, meaning your personal health or homeowner's insurance pays first.

Secured card: building credit from a deposit

The Bank of America Secured Credit Card requires a cash deposit between $500 and $2,500, which becomes your credit limit. You use the card like any other — making purchases and paying a monthly bill — but the deposit sits in a savings account as collateral. The card reports to all three credit bureaus (Equifax, Experian, TransUnion), so on-time payments build your credit history.

After a period of responsible use (typically 12 months of on-time payments), Bank of America may convert the card to an unsecured card and return your deposit. Conversion is not automatic; the bank reviews your account and decides whether to upgrade you. If you are not converted, you can keep using the secured card or close it and retrieve your deposit.

The secured card charges an annual fee of $29. It earns 1% cash back on all purchases. The interest rate is higher than Bank of America's unsecured cards because the risk to the bank is different — you are building credit, not maintaining an established history.

How welcome offers work and what they require

Bank of America advertises welcome offers on most of its cards — typically $100 to $300 in cash back or bonus points. To receive the offer, you must spend a set amount within a set timeframe, usually $500 to $1,000 within three months. The offer is paid as a statement credit or points deposit after you meet the requirement.

The offer applies only to new cardholders who have not held that specific card in the past 12 months. If you closed a Bank of America Cash Rewards card six months ago, you cannot receive the welcome offer on a new Cash Rewards card right now, but you could on a different Bank of America card.

Welcome offers change frequently — sometimes monthly. If you see an offer advertised but do not explore when ready, the offer may be different or gone by the time you return. Bank of America's website shows the current offer for each card.

Interest rates, fees, and what happens if you carry a balance

All Bank of America credit cards charge interest on balances you do not pay in full each month. The interest rate (called the APR, or annual percentage rate) is determined at approval based on your credit score and credit history. Two people approved for the same card may receive different APRs.

Bank of America publishes a range for each card — for example, 16.99% to 26.99% — but you will not know your exact rate until after you are approved. You can see the rate in your approval letter or online account.

Annual fees vary: the Cash Rewards and Travel Rewards cards have no annual fee, the Premium Rewards card has no annual fee, and the Secured card charges $29 per year. Some Bank of America cards not listed here (such as premium travel cards) charge $95 or more annually.

Comparing Bank of America cards to other issuers

Bank of America's rewards rates are competitive but not the highest available. The Cash Rewards card's 3% in rotating categories matches cards from Chase and Discover, but other issuers offer 5% or higher in specific categories (groceries, gas, restaurants) without rotation. If you spend heavily in one category, a card designed specifically for that category may earn more.

The Travel Rewards card's 1.5% on all purchases is standard for no-annual-fee travel cards. Cards from Chase, American Express, and Capital One offer similar rates with no fee.

The Secured card's $29 annual fee is higher than some competitors' secured cards, which charge $0 to $25. However, the 1% cash back is better than many secured cards, which offer no rewards.

The main advantage of Bank of America cards is integration with Bank of America checking and savings accounts — the bonus earning rates explore if you maintain a may have access to balance. If you already bank with Bank of America, this bonus may make their cards more valuable than a competitor's card with a slightly higher base rate.

How to compare cards and choose the right one

Start by listing your monthly spending by category: groceries, gas, dining, travel, utilities, and everything else. Add up each category for three months to see where your money goes. Then check the earning rate for each Bank of America card in those categories.

For example, if you spend $400 a month on groceries, $200 on gas, and $300 on everything else, the Cash Rewards card earning 3% on groceries (if you select that category) and 2% on gas would earn more than the Travel Rewards card earning 1.5% on all three. But if your spending is spread evenly across many merchants, the Travel Rewards card's flat 1.5% may be simpler and earn more overall.

If you are building credit or have a limited credit history, the Secured card is the only option among Bank of America's offerings. The $29 annual fee and 1% cash back make it worth using for regular purchases while you build history.

Check the current welcome offer for the card you are considering. The offer changes, so compare the offer to the card's annual fee and earning rates to decide whether the card makes sense for your situation.

Frequently Asked Questions

Can I get a Bank of America credit card if I have bad credit?

Bank of America's rewards cards typically require good to excellent credit. The Secured card is designed for people with limited or poor credit history and does not require a high credit score for approval. You will need to provide a cash deposit between $500 and $2,500.

Do I have to be a Bank of America customer to get one of their credit cards?

No. You can open a Bank of America credit card without having a checking or savings account. However, if you do have a Bank of America deposit account, you may receive a bonus to your earning rate on rewards cards, so opening a checking account could increase the value of the card.

What is the difference between cash back and points?

Cash back is deposited as a statement credit or transferred to your bank account — it is money. Points are a currency you redeem for travel, merchandise, or cash. With Bank of America's Travel Rewards card, points can be converted to cash at a fixed rate (usually 1 point = 1 cent), so the difference is mainly how you use them.

Can I switch from one Bank of America card to another?

Yes. You can close one Bank of America card and open another, or hold multiple Bank of America cards at the same time. If you close a card, wait at least 12 months before opening the same card again to be may be able to access for the welcome offer.

How long does it take to get approved for a Bank of America credit card?

Bank of America usually provides a decision within minutes of your process. If approved, your card arrives within 7 to 10 business days. You can use the card number when ready for online purchases before the physical card arrives.