BankAmericard Cash Rewards™ Credit Card Reviews

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3.9 out of 5 stars
92 Reviews

From Cardholders in the last year

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ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4 out of 5 stars

Customer Service

3.5 out of 5 stars

4 5

Card Details

  • Balance Transfer Intro APR 0% for 12 Billing Cycles on balance transfers made in the first 60 days
  • Balance Transfer Regular APR 13.99% - 23.99%* Variable
  • Annual Fee $0
  • Purchase Intro APR 0% for 12 Billing Cycles
  • Purchase Regular APR 13.99% - 23.99%* Variable

Our Take

The Bank of America® Cash Rewards credit card is a solid cash back option for people with good to excellent credit.

What to Like

The Bank of America® Cash Rewards credit card offers 3% cash back on gas and 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined grocery stores, wholesale club, and gas purchases each quarter. You can earn 1% cash back on all other purchases, and get a $150 cash rewards bonus after $500 in purchases in the first 90 days.

Look Out For

You’ll pay a 3% or $10 fee on any balance transfers whichever is greater, as well as a 3% fee on foreign transactions. If you’re late on a payment, you could be subject to a high penalty APR that may overshadow any rewards earnings.

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Most Helpful Positive Review

Oct 23, 2016
A must have for any cashback enthusiast!
glpstrat Cardholder

THE MOST IMPORTANT THING I want to say in my review is something I couldn’t find in ANY reviews. The 3% cash back on gas applies to ANY purchase made at any GAS STATION, not just the gas. The advertisement makes it sound like this is good for the gas only, but I didn’t think that could be so & found out it isn’t.

My stats when applying for BoA: 742 CK score (TU & Equifax both), lowest utilization grade, 100% payment history,  0 derogatory marks, Avg credit age of 1 Yr (totally incorrect in reality, I'm close to 10 years on every other report, idk where CK gets this from...), 9 total accounts, inquiries at 2.

I was only given 'good' odds at being approved for this card yet was given 'very high' odds for my Chase Freedom & Citi Double Cash cards with almost a 50 point lower score. I've wanted this card for a while but I've read that BoA is picky, so I held out til I was confident I’d be approved.

The application process was mostly easy except for the required employment selection. They had NOTHING related to my field, so I had to call BoA to find out what to choose. The call was completely smooth & the rep was very helpful.

The BoA online banking GUI is average at best, especially compared to the Chase & Citi online banking GUIs. The BoA GUI just has a cheap feeling to it & I honestly expected it to be closer to the quality of the others, if not better due to how long they’ve been around. 

Finally, with the 2 other cards I mentioned, this one rounds out the 3 top cash back cards in my opinion. Chase Freedom is great for the 5% rotating categories, BoA is good for the 3% gas bonus, & Citi is good for a minimum of 2% on all other purchases. I love free money, & you just can’t beat getting paid to buy things you’re already going to have to buy anyway!!!

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Most Helpful Negative Review

Mar 23, 2017
BAIT & SWITCH ~BEWARE OF BOA
ArtRevu Cardholder

My FICO was 758 with a Cap One Quicksilver,$750,  Discover Chrome IT $1000 and Amex Everday Blue $4000, each with NO annual fee and gave rewards, maintaining zeo monthly balance on most.

This was to be my only Visa and was to round out my credit portfolio. Every time I logged in to Credit Karma  or Experian, it was recommended  to me so I decided to apply.

I was supposed to receive '0' annual fee, $100 Sign On Bonus after first $500 spent and cash back on all purchases. 

Instead they sent this card with a $39 annual fee 20+% interest fee and no rewards or sign on bonus and a limit of $500.

I received but did NOT activate the card, because the deal was not what I applied for, so I contacted them and was told they would check into it and get back to me in 5-7 business days and suggested I activate the card and one customer service representative offered to waive the $39 fee. I asked what about next year? I said I didnt want to be locked into an annual fee card and that their interest rate being over 20% was higher than both my Discover and Amex cards, meaning I would have no use for the card they sent.. 

I told them I was NOT going to activate it ~ unless they gave me the original deal that I applied for as I didnt need the card and certainly not their bait and switch deal. 

I did wait about a week to hear from them but when they didnt contact me back although I received a first bill in the mail, showing I owed them $39 annual fee.

I called again and told them I had NOT activated the card and if they were not going to give me the deal I had applied for, that I would send them back the card but was told to go ahead and destroy the card and they would cancel the account for me, even though I had never activated it in the first place.

Instead of it being a canceled deal, as it was NOT ever  an activated account, they put it on my credit report, as if it had been an active account and closed by me with a zero balance.

This is very signicant as its a misrepresentation and has now dropped my credit from 758 to 655 - over 100 pts in about a month.

I have put in a dispute and its now closed as a closed account .I believe it should not even appear on  my credit report as it was not the card I applied for nor activated. 

I understand that some points are for applying, however as I did apply. If they werent going to honor their offer, they should have simply denied credit. 

What I dont accept however is that they baited and switched the account and when I refused their second deal, instead of canceling it they marked it against me.

I highly recommend being leary of Bank of America for their underhanded false way of reporting. 

Although they apologized, they still have not corrected their mischaracterization of my credit.

My FICO will be back up in a few months, as I pay my bills early and frequently and keep some cards paid in full monthly and utilization less than 30% most of the time overall.

Bank of America on the other hand has caused harm not good to one who would have been a good  customer.

If you arent prepared to take a large hit on your FICO and a poor deal of a card, I would recommend staying away from Bank of America.

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These reviews were written by current and former cardholders in the last year.

Aug 06, 2017
Great card
Anonymous Cardholder

This card is great I've had it for many years and save roughly $600 a year. I specifically use it for gas and groceries. However the best part of it all is that if you have preferred status you get an additional redemption bonus up to 75%! Meaning if you've earned $100 in cash back and redeem it to a checking or savings account you actually get $175! Plus no annual fee.

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Aug 06, 2017
Great card
Anonymous Cardholder

This card is great I've had it for many years and save roughly $600 a year. I specifically use it for gas and groceries. However the best part of it all is that if you have preferred status you get an additional redemption bonus up to 75%! Meaning if you've earned $100 in cash back and redeem it to a checking or savings account you actually get $175! Plus no annual fee.

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Aug 05, 2017
You get what they say 1.5 on every purch
Dogbudd Cardholder

Great card simple you can make a profit if you can afford to pay your entire balance each month use this card when you purchase stuff that doesn't offer a higher rate 1.5 is better than 1% use other card for gas and finger na out that give you 5% on gas and 3% on dining out i.e. Popeyes etc

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Aug 05, 2017
You get what they say 1.5 on every purch
Dogbudd Cardholder

Great card simple you can make a profit if you can afford to pay your entire balance each month use this card when you purchase stuff that doesn't offer a higher rate 1.5 is better than 1%

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Jul 16, 2017
Steer Well Away!!
MBI1981 Cardholder

I kept on getting pre-approved invites for this card in the mail. I finally bit towards the end of 2015 and signed up for one. At the time I had a credit score solidly in the mid 750's. I was approved for a measly $1,900. Two years of regular use, a 100% on time payments and I still haven't seen a Single increase in credit line. I reached out today to see if I could be approved for a line increase. I was told that a Hard Pull would be required to increase my credit line! To put it in perspective two of my other cards are signature cards and I have a credit line of upto 9000 on a single card. Citi granted me a signature card at $8500 on application! 

If I expect to keep credit utilization to my preferred levels I cannot use this card. Using this card pushes up my credit usage percentage and drops my score. Increasing my credit line is a hard pull which also hurts my score. This card was a thoroughly bad decision for me and I've taken the time out to warn would be applicants...Stay Away!! 

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Aug 03, 2017

I got 20 THOUSAND dollar increase after I called and asked for CLI. I was very happy with that. Must be something bad in your profile.

 
Aug 06, 2017

So having done a credit increase with BofA several times in the past the inquiry is actually a soft inquiry not a hard pull. So you will see a small initial dip in your score but not like you would with a hard pull. I actually did this myself 3 months ago and up my limit from 2k to 10k my score dropped 3 points overall.

 
Jul 13, 2017
Great Card!
Creditguru82 Cardholder

I've had this card since 2003 and the interest rate is 8% how can you beat a deal like that?! I've used it all over the U.S. Mexico and Puerto Rico with out a hitch. Great card!

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1 Reply
Aug 15, 2017

But has your credit score increased?

 
Jul 13, 2017
Anonymous Cardholder

It's good card 

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BankAmericard Cash Rewards™ Credit Card