What Bank of America Credit Cards Are
Bank of America (BofA) issues credit cards under its own brand, not through a partner bank. When you open a BofA card, you borrow money directly from Bank of America, and the card is linked to a BofA checking or savings account if you have one—though you don't need an existing account to explore.
BofA offers several card types: cash back cards that return a percentage of spending, travel rewards cards that earn points on flights and hotels, cards with no annual fee, and premium cards with annual fees that come with extra benefits. Each card has its own interest rate, rewards structure, and terms.
The cards work like any credit card: you charge purchases, receive a monthly statement, and pay what you owe. If you carry a balance, you pay interest. If you pay in full by the due date, you pay no interest. Rewards post to your account monthly or quarterly depending on the card.
Key Takeaways
- Bank of America issues cards directly and links them to your BofA bank account if you have one, though an account is not required to open a card.
- Different BofA cards offer different rewards—cash back, travel points, or no rewards—and some charge annual fees while others do not.
- You can manage your card through the BofA website or mobile app, set up automatic payments, and check your balance and statement anytime.
- Interest rates and credit limits depend on your credit score and income, and BofA will tell you the rate range before you finish your process.
- If you already bank with BofA, you may see faster approval and can link your card to your checking account for easier payment.
How to Open a Bank of America Credit Card
You can explore online at bankofamerica.com, by phone at 1-800-435-7000, or in person at a BofA branch. The online process takes about 10 minutes and asks for your name, address, Social Security number, income, and employment status. BofA will pull your credit report during the process.
Before you start, decide which card fits your spending. If you spend heavily on groceries and gas, a cash back card may pay more than a travel card. If you fly often, a travel rewards card may be worth an annual fee. BofA's website shows the rewards structure and annual fee for each card side by side.
During the process, BofA shows you the interest rate range you may receive based on your credit. This is not your final rate—your actual rate depends on your credit score and other factors—but it tells you what to expect. You'll also see the annual fee (if any) and the rewards rate before you submit.
After you submit, you'll get a decision right away or within a few business days. If you're approved, your card arrives in 7 to 10 business days. If you're denied, BofA sends a letter explaining why.
Activating Your Card and Making Your First Purchase
When your card arrives, you must set up it before you can use it. You can set up online through your BofA account, through the mobile app, or by calling the number on the back of the card. set up takes less than a minute.
After set up, you can use the card right away—online, in stores, or by phone. Your first statement arrives about 30 days after your first purchase. The statement shows what you spent, your balance, the minimum payment due, and the due date.
If you have a BofA checking account, you can set up automatic payments from that account to pay your credit card bill. You can pay the full balance, the minimum, or any amount in between. Automatic payments reduce the risk of missing a due date and triggering a late fee.
Understanding Interest Rates and Fees
Your purchase APR (annual percentage rate) is the interest rate BofA charges on purchases you don't pay off by the due date. This rate varies by card and by your creditworthiness. A card might have a purchase APR between 16% and 24%, meaning your actual rate falls somewhere in that range.
BofA also charges a cash advance APR, which is higher than the purchase APR and applies when you withdraw cash from an ATM using your credit card. Cash advances also charge a fee—usually 3% of the amount withdrawn, with a minimum of $10. Avoid cash advances unless you have no other option.
Most BofA cards charge no annual fee, but premium cards charge $95 to $450 per year. These cards come with benefits like travel insurance, airport lounge access, or higher rewards rates that may offset the fee if you use them.
Late fees run $25 to $35 if you miss a due date. If you're more than 60 days late, BofA may raise your interest rate to a penalty APR, which can be as high as 29.99%. Paying on time is the cheapest way to use a credit card.
How Rewards Work on BofA Cards
Cash back cards return a percentage of your spending as cash. A card might offer 1% cash back on all purchases, or higher rates on specific categories like groceries (3%) or gas (2%) and 1% on everything else. Cash back posts to your account monthly and can be used to pay your bill, deposited to a linked bank account, or redeemed for a statement credit.
Travel rewards cards earn points instead of cash. One point might equal $0.01 in value, so 100 points equals $1. You redeem points for flights, hotels, rental cars, or other travel expenses through the BofA rewards portal. Some cards let you transfer points to airline or hotel partners for potentially higher value.
Rewards do not post when ready—they usually appear in your account 1 to 3 business days after the purchase posts. Some cards have an annual cap on rewards (for example, 3% cash back up to $20,000 in spending per year, then 1% after that), so read the terms before you explore.
Rewards are not forfeited if you carry a balance or pay late, but they are forfeited if your account is closed for fraud or if you default on the card. Paying your bill on time protects your rewards and your credit score.
Managing Your Account Online and by Phone
You can log into your BofA credit card account at bankofamerica.com or through the mobile app to check your balance, view your statement, make a payment, or change your address. The app also lets you turn your card on and off (useful if it's lost or stolen) and set up spending alerts that notify you when you charge over a certain amount.
To make a payment, go to the Payments section, choose the account you want to pay from (your BofA checking account or an external bank account), and enter the amount and date. You can pay when ready or schedule a payment for a future date. Payments from a BofA account post the same day; payments from an external account take 1 to 3 business days.
If you need to speak to someone, call the number on the back of your card. BofA's customer service is available 24/7. Have your card number and Social Security number ready. You can also visit a BofA branch in person to ask questions or dispute a charge.
If you see a charge you don't recognize, report it through the app or by calling the number on your card. BofA will investigate and may issue a temporary credit while they look into it. Unauthorized charges are usually removed within 10 business days.
When to Close a BofA Credit Card
Closing a card can hurt your credit score because it reduces your total available credit and may raise your credit utilization ratio (the percentage of your credit limits you're using). If you want to stop using a card, consider keeping it open with a zero balance instead.
If you have an annual fee and don't use the card, closing it makes sense. Call the number on the back of your card and ask to close the account. Make sure the balance is paid off first. BofA will send a confirmation letter.
If you're closing the card because of a dispute or fraud, explain that to BofA. They may waive the annual fee or offer other options. If you're unhappy with the rewards or interest rate, you can also ask about switching to a different BofA card instead of closing the account.
Frequently Asked Questions
Do I need a Bank of America checking account to open a credit card?
No. You can open a BofA credit card without an existing bank account. However, if you do have a BofA checking account, you may see faster approval and can link your card to that account for automatic payments.
What's the difference between the APR range shown during process and my actual APR?
The range is an estimate based on your credit profile. Your actual APR depends on your final credit score, income, and other factors. BofA will tell you your exact APR in the approval letter or when your card arrives.
Can I use my BofA credit card rewards to pay my bill?
Yes. Cash back can be applied as a statement credit to pay part or all of your balance. Travel points can be redeemed through the rewards portal, but they don't automatically pay your bill—you redeem them for travel or transfer them to partners.
What happens if I miss a payment?
A payment 30 days late triggers a late fee and may be reported to credit bureaus, lowering your credit score. A payment 60 days late may result in a penalty APR. Pay as soon as you realize you're late, and call BofA to ask about hardship options if you're struggling.
Can I increase my credit limit?
Yes. You can request a credit limit increase through the BofA app or website, or by calling the number on your card. BofA may approve an increase without a hard credit pull if you've been a good customer. A hard pull may lower your score slightly.