Bank of America Cash Back Credit Card Rewards

Filed in Banks by on January 6, 2021 0 Comments

This credit card offers users opportunity to make savings on their daily purchases. With the card you get to be free of annual payments for use and you get to make plans on redeeming rewards because it doesn’t expire. Category rotating is not needed as your rewards keep coming via easy to understand structures.


Bank of America Cash Back Credit Card Details

  • Receive 1% cash back on all purchases made using the credit card.
  • Earn 2% on grocery purchases as well as shopping at wholesale locations while a reward of 3% is yours when you buy gas, this reward is given for a combined purchase of gas/grocery/wholesale items that gets up to $2,500 in each quarter spend with the card.
  • There is no annual fee charge.
  • The applied purchase introductory APR that lasts for the first 12 billing cycles is 0% and subsequent purchases will have an interest rate of 13.99% – 23.99% (which varies).
  • The cash balance transfer introductory APR is also 0% for the first 60 days and subsequent transfers will cost 3% of the value at a minimum of $10.
  • If you are able to make purchases up to $500 in the first 90 days of your account being active, you will get an online bonus of $150.
  • When you redeem your rewards into the Bank’s account (a savings or checking one), you will get a reward of 10% as a customer.


Bank of America Cash Back Credit Card Interest Rates and Fees

Introductory APR

This is at a rate of 0% and lasts 12 billing cycles for purchases and the first 60 days for cash balance transfers.

Standard APR

It varies between 13.99% and 23.99%.

Annual Fee


Balance Transfer Fee

A fee of 3% the value of the transfer and not below $10.

APR for Cash Advances

Depending on the individual’s credit standing it is between 16.99% and 25.99%, and varies as the market Prime Rate varies.

Penalty APR

According to the credit of card users, it can get you to 29.99%.

Penalty Fees

Payment for penalty can reach $38.

Returned Payment

This can attract $27.


Bank of America Cash Back Credit Card Rewards

  • Gain a cash back of 1% for purchases.
  • When you buy groceries or shop at wholesale locations a 2% cash back is yours.
  • Receive 3% cash back for gas purchase if your quarterly spending is up to $2,500 on gas, grocery and wholesale purchase.


Bank of America Cash Back Credit Card Security Features

  • Gives protection from fraudsters.
  • Has a Shopsafe feature that protects online shoppers while patronizing shops on the website.
  • The Chip security feature increases security as well as card access in about 130 countries.
  • An Overdraft protection service will work very well when you link your credit card to your Bank of America account and it helps prevent returned checks as well as declined purchases.
  • You can choose electronic account statements.
  • Access to the fast online banking.
  • Can be linked to other digital wallets to allow easy payments.
  • Account alerts will help users know what is going on with their accounts.
  • Has a text banking feature.
  • Gives monthly FICO credit scores and updates it regularly.


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