Overall card rating3.8 Show
from Credit Karma members Most helpful positive reviewGreat addition to my walletCredit Karma Member I love the unlimited cash back feature, sign on bonus and 0% promotional offer on purchases. It was easy to apply online and I received the card within 10 days. Most helpful negative reviewDon't Apply for this cardCredit Karma Member 811 score with no debt and got denied. No worth getting a hard inquiry for such a hard to get card. Member ratingsAll member reviews (29)5 stars 16 4 stars 1 3 stars 0 2 stars 2 1 stars 10 Credit Karma Member Don't apply for this card, you will only get a Hard Inquiry on your credit score. I have excellent credit(score 830, no debt, own home and vehicles). They still put me through hell applying for this card. It was so bad that I told them to cancel the application. Credit Karma Member Even if you have 740+ score with no Delinquency, the chances that they turn you down is very high and then you left with big FAT hard inquiry on your credit. Don’t believe me apply! Credit Karma Member They will decline you based on your relationship with them meaning if you do not have an account with them don't bother. I have an 815 credit score with more than a hundred thousand available credit, zero percent utilization and twenty years perfect payment history and was denied "based on our relationship" and apparently they had to pull my credit twice to come to this decision so now I have two hard pulls on my credit from B of A. What a waste of time. Credit Karma Member Simple sign in and all info is filled. Great limit and fast approval. Credit Karma Member I applied for this card with a 750-credit score and got approved with a $21,000-credit limit. I made purchases that totaled $1000 within the first 3 months and received a $200 cash bonus with I applied to my balance. Great card. Credit Karma Member Don't waste your time with BOA. You can get 2% or more cash back with competitor cards and at least one of them doubles your 1st year cash at the end of 12 months. Others will allow you to automatically convert your cash back to statement credit each month -- BOA doesn't do that. You have to manually convert credit to either statements or have a check sent (or presumably to a BOA checking, but I haven't one of those with them in _years_.) Credit Karma Member Credit Karma Member I applied for this card over three weeks ago. My credit is pretty good, so there shouldn't have been a reason I didn't get an instant approval, but they said my application needed further review. Well its been 3 weeks now and the status of my application still says "in review". And let me also mention that I have been banking with Bank of America for over 25 years!!! At this point, id rather them just deny my application so I can apply elsewhere.
Credit Karma Member My credit score is 780+. According to credit karma my chance of approval is very good. Still application was denied. A complete waste of time Credit Karma Member Waste of time and hard credit pull. Wanted to do a balancer transfer and they ask on the app to know how much without telling you want your credit limit will be. I was approved but the credit limit was a joke. And transferring the balance from another card would have put me in over the 30% usage rate. I cancelled the card and will not reapply. See Approval Odds before you applyWe’ll estimate your chances of approval based on your credit profile. Join today — it’s free! You’ll also get: Sign up
The offer mentioned below for the for the Citi® Double Cash Card is no longer available. A new rewards credit card has just hit the market: The Bank of America® Unlimited Cash Rewards Card enters a crowded field of cash-back cards. The Unlimited Cash Rewards Card is a no-annual fee card that earns 1.5% cash back on purchases with the ability to earn a higher cash-back rate if you're a Bank of America Preferred Rewards member. The Unlimited Cash Rewards Card has a straightforward rewards program with a twist. The card earns 1.5% cash back on everything, but it also allows you to tap into Bank of America's Preferred Rewards Program, which gives you the potential to gain an additional 25% to 75% uplift on your rewards, depending on your Preferred Rewards program member tier. Bank of America joins Wells Fargo and Citigroup which have both rolled out cash-back cards in the past few months. "Some customers choose to have flat cash-back products and we noticed that some of our customers [would] go elsewhere to seek out that type of product, because Bank of America didn't offer it," Jason Gaughan, Consumer Card Product Executive at Bank of America said. The card offers a solid welcome bonus of $200 if you spend $1,000 within the first three months of opening the card and a 18 month 0% APR introductory period on balance transfers and purchases (after, variable APR 16.99% to 26.99%). It also has a 3% foreign transaction fee, so it's not a great card for international travelers. You can redeem your cash back as a statement credit, a direct deposit into a Bank of America checking or savings account or a credit to an eligible Merrill® account. Bank of America® Unlimited Cash Rewards credit card
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Rewards totals incorporate the cash-back earned from the welcome bonus and 1.5% back Boost your cash-back earning with Preferred RewardsIn order to become a Preferred Rewards program member, you'll need at least $20,000 or more invested in a Bank of America® deposit and/or Merrill® investment account. There are three Preferred Rewards tiers. If you're in the highest tier, Platinum Honors, you earn 2.625% back on purchases with the Unlimited Cash Rewards Card. If you're in the lowest tier, Gold, you receive 1.875% back, and if you're in the middle tier, Silver, you'll earn 2.25% cash back. "...It pays to have a relationship, or a full relationship, with us [Bank of America]. The more you do with us, the more you get rewarded," Don Vecchiarello, spokesperson for Bank of America, said. The ability to earn a greater cash-back rate by being a Preferred Rewards member, up to 2.625%, potentially makes the Unlimited Cash Rewards Card the best flat-rate cash-back card currently on the market. Most other cash-back cards offer rewards rates of 1.5% to 2% back, and cards with higher cash-back rates of 5% typically have rotating categories or spending caps. Other flat-rate cash-back cardsWhile cardholders have the ability to earn more by being a Preferred Rewards Program member, there are other cash-back cards on the market with better rewards systems if you're not a member. The new product from Bank of America competes against other well-known cards in the cash-rewards space, namely the Wells Fargo Active Cash® Card, the Chase Freedom Unlimited® and the Citi® Double Cash Card Card. Some have a welcome bonus and a 0% APR introductory period. The Wells Fargo Active Cash offers 2% cash rewards on all eligible purchases and a $200 cash reward welcome bonus if you spend $1,000 in purchases within the first three months of account opening. Wells Fargo Active Cash® CardOn Wells Fargo's secure site
The Chase Freedom Unlimited offers 3% on dining at restaurants (including takeout and eligible delivery services) and drugstores and 5% cash back on travel purchased through Chase Ultimate Rewards®. Cardholders earn an additional 1.5% for all eligible purchases, on up to $20,000 spent in the first year. Chase Freedom Unlimited®
Terms apply. The Citi Double Cash Card also has a 2% cash-back on purchases; 1% when you buy and 1% as you pay but doesn't have a welcome bonus, making the Active Cash Card a stronger choice. Bottom lineRegardless of which cash-back card you choose, the Unlimited Cash Rewards Card comes with the potential to earn the highest cash-back rate, on all purchases, of many cards. You'll just need to be at least a Gold or Platinum Preferred Rewards program member to reap those rewards. Information about the Bank of America's Unlimited Cash Rewards Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party. What is Bank of America unlimited cash rewards?The Bank of America® Unlimited Cash Rewards credit card is simple: The card earns 1.5% unlimited cash back on all purchases, redeemable as a credit card statement credit or a deposit into an eligible Bank of America account, with no minimum redemption amount, no limit on the amount of rewards and no annual fee.
What score is needed for Bank of America Unlimited Cash Rewards credit card?The Bank of America® Unlimited Cash Rewards credit card is intended for cardholders with at least good credit, which typically means credit scores of 670 or better.
Is the unlimited cash rewards card worth it?The Bank of America® Unlimited Cash Rewards credit card earns a decent 1.5% cash-back rate. That's the gold standard among cash-back credit cards and the least you should settle for on a rewards credit card if you have good credit (a FICO score of 690 or higher). The flat rate makes this card easy to manage.
What does Unlimited Cash Rewards credit card mean?The Unlimited Cash Rewards Card is a no-annual fee card that earns 1.5% cash back on purchases with the ability to earn a higher cash-back rate if you're a Bank of America Preferred Rewards member. The Unlimited Cash Rewards Card has a straightforward rewards program with a twist.
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