Bank Of America Cash Rewards Credit Card Annual Fee

Hello Friends, Let’s Learn About Bank of America Cash Rewards Credit Card

Introduction

If you are searching for a cashback credit card which offers great rewards and benefits, then you might want to consider the Bank of America Cash Rewards Credit Card. This credit card has a lot to offer to its users when it comes to redeeming rewards and taking advantage of the cashback option. In this article, we will discuss the features and benefits of the Bank of America Cash Rewards Credit Card and how it can be your perfect financial fit.

Rewards Program

One of the main attractions of the Bank of America Cash Rewards Credit Card is its rewards program. The credit card offers cashback on every purchase you make. The cardholder earns 3% cashback on purchases made in a category of their choice from a list of six categories including gas, online shopping, dining, travel, drugstores, or home improvement and furnishings. Along with this, you can earn 2% cashback at grocery stores and wholesale clubs, and 1% cashback on all other purchases. The rewards earned can be redeemed as cashback or statement credit, and you can also use it to purchase merchandise or gift cards.

Bonus Rewards

Apart from its rewards program, the Bank of America Cash Rewards Credit Card also offers bonus rewards to its users. For new cardholders, the credit card offers a special welcome bonus of a $200 statement credit after spending $1,000 in the first 90 days of account opening. Additionally, if you are a Bank of America Preferred Rewards member, you can earn up to 75% more rewards on every purchase made through this credit card. This can be a great way to maximize your rewards and take advantage of this credit card to its fullest potential.

Annual Fee and APR

Another factor that can make or break a card’s potential for the user is the annual fee and interest rate. The Bank of America Cash Rewards Credit Card has no annual fee, which makes it a great option for those who want to earn rewards without incurring additional charges. Additionally, the introductory APR is 0% for the first 15 billing cycles on purchases and balance transfers made within the first 60 days of account opening. After the introductory period, the APR ranges from 13.99% to 23.99% depending on the creditworthiness of the applicant.

Additional Benefits

Apart from its rewards program, the Bank of America Cash Rewards Credit Card also comes with additional benefits which include travel accident insurance, auto rental collision damage waiver, purchase protection, extended warranty, and roadside dispatch. These benefits can be extremely useful when you are traveling or making a big purchase, and can also provide peace of mind when using your credit card in case of emergency situations.

Mobile and Online Banking

Bank of America offers various online and mobile banking services for its customers, making it easy to manage your account, pay your bills, and track your rewards from anywhere. You can also set up customizable alerts to stay informed about your account activity and protect yourself from fraud and unauthorized charges.

Pros and Cons of Bank of America Cash Rewards Credit Card

Pros:
• No Annual Fee
• 0% APR for first 15 billing cycles
• Easy-to-earn rewards system
• Bonus rewards for Preferred Rewards members
• Redeem rewards as cashback or statement credit
• Additional benefits including purchase protection and extended warranty

Cons:
• Higher APR rate after the introductory period
• Limited rewards categories to choose from
• Minimum redemption amount required for cashback

Conclusion

The Bank of America Cash Rewards Credit Card can be a perfect fit for those who want to earn cashback rewards without paying an annual fee. The easy-to-earn rewards system and additional benefits make this credit card a great option for frequent travelers and those who make big purchases regularly. With its low intro APR, Preferred Rewards bonus, and no annual fee, this credit card is one of the best cashback credit cards available in the market. Whether you’re a student, professional, or retiree, the Bank of America Cash Rewards Credit Card offers a simple and rewarding way to manage your finances and earn rewards.

We hope this article helped you understand everything you need to know about the Bank of America Cash Rewards Credit Card. Please do leave your comments below and let us know your thoughts on the credit card. Until next time, stay safe and stay healthy.

Bank Of America Cash Rewards Credit Card Annual Fee

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