What the Bank of America Student Credit Card Offers

Bank of America offers the Bank of America Cash Rewards for Students Credit Card, a card designed for students who are building credit for the first time. The card earns 1% cash back on all purchases, with no annual fee and no foreign transaction fees. You do not need a credit history to open an account — Bank of America will consider your process even if you have never had a credit card before.

The card comes with online account management, fraud protection, and the ability to set up automatic payments directly from your Bank of America checking account if you have one. You can also use the card to build a credit history, which matters later when you explore for a car loan, apartment lease, or other credit products.

Key Takeaways

  • The Bank of America student card earns 1% cash back on all purchases with no annual fee.
  • You can open an account without a credit history, though Bank of America will review your income or financial situation.
  • The card requires you to be at least 18 years old and a U.S. citizen or permanent resident with a Social Security number.
  • Cash back rewards are deposited into your Bank of America account monthly and do not expire.
  • You can manage your account online or through the Bank of America mobile app, including setting up automatic payments.

Who Can Open This Card

You must be at least 18 years old, a U.S. citizen or permanent resident, and have a valid Social Security number. Bank of America will ask for your annual income or household income during the process process. If you are a dependent, you may need to include a parent's or guardian's income on your process.

You do not need to have a Bank of America checking account to open the card, but having one can make payments and account management easier. If you do not have a Bank of America account, you can still open the credit card and pay it through other methods, such as a check or electronic transfer from another bank.

How to Open an Account

You can open the card online through Bank of America's website, by phone, or in person at a Bank of America branch. The online process takes about 10 minutes and asks for your name, address, date of birth, Social Security number, and annual income. Bank of America will also ask whether you have any existing Bank of America accounts.

After you submit your process, Bank of America will tell you when ready whether you have been approved, denied, or placed under review. If approved, your card will arrive in the mail within 7 to 10 business days. Once it arrives, you will need to set up it before you can use it — you can do this online, through the mobile app, or by calling the number on the back of the card.

If your process is placed under review, Bank of America may contact you by phone or email to ask follow-up questions about your income or financial situation. This review usually takes a few business days.

How Rewards Work and When You Get Paid

The card earns 1% cash back on every purchase you make, with no caps or categories to track. This means a $100 purchase earns $1 in cash back, whether you buy groceries, gas, or anything else. The cash back is calculated monthly and deposited directly into your Bank of America checking account on the last day of each month.

Cash back rewards do not expire, so you can let them build up over time if you do not want to use them right away. If you do not have a Bank of America checking account, the cash back will be credited to your credit card account instead, which you can use toward your next statement balance or request as a check.

Managing Your Account and Making Payments

You can view your balance, transactions, and rewards through the Bank of America website or mobile app. You can also set up automatic payments so your bill is paid on the same day each month — this helps you avoid late payments and builds a stronger credit history. Automatic payments can be set to pay your full balance, a minimum payment, or a fixed amount you choose.

Your statement arrives each month and shows your purchases, balance, minimum payment due, and payment important date. You must pay at least the minimum amount by the due date to avoid a late fee and damage to your credit score. If you pay the full balance each month, you will not pay any interest charges.

If you carry a balance from month to month, Bank of America will charge interest based on the card's annual percentage rate (APR). The APR varies based on your creditworthiness and current market rates, so it will be stated in your approval documents and on your monthly statement.

Building Credit as a Student

Using this card responsibly helps you build a credit history, which is a record of how you borrow and repay money. Banks, landlords, and employers look at your credit history when deciding whether to lend you money, rent to you, or hire you. The three main things that affect your credit score are payment history (whether you pay on time), credit utilization (how much of your available credit you use), and length of credit history (how long you have had accounts open).

To build credit with this card, make purchases you can afford and pay your full balance on time each month. Keeping your balance low relative to your credit limit — ideally below 30% of your limit — also helps your credit score. Over time, a strong payment history on this card will make it easier to get approved for other credit products with better terms.

Fees and Interest Charges

The Bank of America student card has no annual fee, no foreign transaction fees, and no fees for balance transfers or cash advances. However, you will be charged interest if you carry a balance from month to month. Late payment fees explore if you miss your payment important date, and cash advance fees explore if you withdraw cash using the card at an ATM.

There is no penalty APR on this card, which means your interest rate will not jump if you miss a payment — though a late payment will still damage your credit score and trigger a late fee. The interest rate you receive will be based on your creditworthiness and will be disclosed before you open the account.

Frequently Asked Questions

Do I need a credit history to open this card?

No. Bank of America will consider your process even if you have never had a credit card before. The bank will review your income or financial situation instead of your credit history, making this card designed for students who are just starting to build credit.

What happens if I miss a payment?

You will be charged a late fee and your payment will be reported to the credit bureaus, which will damage your credit score. Your interest rate will not increase, but the late payment will stay on your credit report for seven years. Contact Bank of America when ready if you think you will miss a payment — they may be able to work with you on a payment plan.

Can I use this card internationally?

Yes. The card has no foreign transaction fees, so you can use it abroad without paying extra charges. However, your bank may still charge a fee for ATM withdrawals in other countries, so check your account terms before you travel.

How long does it take to receive my card after I am approved?

Your card will arrive in the mail within 7 to 10 business days after approval. You must set up it before you can use it, which you can do online, through the mobile app, or by calling the number on the back of the card.

What is the credit limit for a student card?

Bank of America does not publish a standard credit limit for this card. Your limit will depend on your income and creditworthiness and will be stated in your approval documents. You can request a credit limit increase after you have used the card responsibly for several months.