If you’re looking for a credit card with unlimited cashback and a consistent return rate, the Bank of America Unlimited Cash Rewards may be the perfect fit. Simple to use and packed with valuable benefits, this card offers flexibility, helpful financial tools, and no annual fee. If you’ve been considering this product, here’s everything you need to know before applying.
Fees and Interest Rates
One of the major advantages of the Unlimited Cash Rewards card is that it has no annual fee, making it a cost-effective option for everyday use. In addition, the card offers a 0% introductory APR for the first 15 billing cycles on both purchases and balance transfers. After the intro period ends, a variable APR between 18.24% and 28.24% applies, depending on your credit profile.
For balance transfers, there is a 3% fee per transaction. International purchases also incur a 3% fee on the converted dollar amount. If you miss a payment, you may be charged a late fee of up to $40, which varies based on the outstanding balance and whether it’s a repeat occurrence.
Overall, the fees and interest rates are competitive for a cashback card, but it’s always smart to check the most up-to-date terms directly with Bank of America before applying.
Who Can Apply?
The Unlimited Cash Rewards card is designed for individuals with good to excellent credit, typically with a FICO® Score of 670 or higher. You must also be 18 or older, a permanent U.S. resident, and have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
There’s no minimum income requirement to apply, but Bank of America will review your credit history, existing debts, and overall financial capacity during the application process.
While anyone can apply, Bank of America customers—especially those enrolled in the Preferred Rewards program—can access enhanced benefits when linking their credit card to an eligible checking or savings account.
How to Apply for Your Card
Applying is easy and can be done in several ways: through the Bank of America website, mobile app, or by visiting a local branch. The bank also offers a pre-qualification tool online that allows you to check your eligibility without impacting your credit score.
If you’re already a Bank of America customer, it’s worth checking if you’ve been pre-approved. If not, you can still proceed by completing the online application form with your personal, income, and credit details.
Upon approval, you’ll receive a virtual card number for immediate use in online purchases—so you can start earning cashback right away.
Is the Unlimited Cash Rewards Card Worth It?
If your goal is to earn consistent cashback without having to track categories or rotating rewards, the Unlimited Cash Rewards card delivers. With 1.5% cashback on every purchase, no spending cap, and easy redemption options, it’s ideal for everyday spending.
Plus, rewards don’t expire as long as your account stays open, and Preferred Rewards members can earn up to 75% more cashback—making this card even more valuable when linked to a Bank of America account.
If you’re seeking travel perks or points-based programs, this card might not be the best fit. But for those who prioritize simplicity, convenience, and reliable cashback, the Unlimited Cash Rewards card is an excellent choice.
All information in this and other BOISLA articles is subject to change over time. Please check for updates directly with the institutions and companies mentioned. Approval is subject to the institution’s review.
REFERENCES:
https://www.bankofamerica.com/
Read more about credit cards in https://boisla.com/category/credit-cards/
