The Ultimate Guide to Credit Cards
Wednesday, February 8, 2023

Bank of America Cash Back Credit Cards & Best Alternatives

Bank Of America Cash Back Credit Cards

credit card advice

Eric Bank

Written by: Eric Bank

Eric Bank

Eric Bank has been covering business and financial topics since 1985, specializing in taking complex subject matters and explaining them in simple terms for consumer audiences. In addition to his work on CardRates.com, Eric has appeared regularly on Credible.com, eHow, WiseBread, The Nest, Get.com, Zacks, Chron and dozens of other outlets. A former software engineer, Eric holds an M.B.A. from New York University and an M.S. in finance from DePaul University.

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Edited by: Lillian Guevara-Castro

Lillian Guevara-Castro

Lillian brings more than 30 years of editing and journalism experience. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct instructor at the University of Florida. Today, she edits all CardRates content for clarity, accuracy, and reader engagement.

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Reviewed by: Ashley Dull

Ashley Dull

With more than a decade of experience as a content manager and marketer, Ashley has specialized in finance coverage since 2015. She has worked closely with the world’s largest banks and financial institutions, up-and-coming fintech companies, and press and news outlets to curate comprehensive content and media campaigns. Her credit card commentary is featured on national media outlets that include CNBC, MarketWatch, Investopedia, and Reader's Digest, among others.

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Advertiser Disclosure

Bank of America serves more than 65 million customers, so it’s no wonder many consumers flock to the bank’s credit cards. This venerable financial institution offers several cards, but our focus will be on its cash back credit cards. We will, however, peek at its other credit cards and those of competing megabanks. 

Bank of America generally requires cardowners to have excellent credit to obtain an unsecured card, but it also offers a secured cash back card and a student card with more lenient requirements. 

All of its cards have valuable tie-ins with other bank products and services. Getting one of its cards is a no-brainer if you do your banking at Bank of America. Those who bank elsewhere (or nowhere at all) will also find these cards merit serious consideration.

Bank of America Offers 4 Cash Back Cards

Cash is so versatile — admired and coveted by most Americans. One way to increase your supply is to own a cash back credit card. Bank of America issues no less than four cards of this genre. If you like money, keep reading!

Bank of America® Customized Cash Rewards credit card Review

at Bank Of America’ssecure website

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
  • If you’re a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
  • No annual fee and no expiration on rewards.
  • New longer intro period! 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% – 28.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
  • Contactless Cards – The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 18 billing cycles for purchases
0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days
18.24% – 28.24% Variable APR on purchases and balance transfers
$0
Excellent/Good

Additional Disclosure: Bank of America is a CardRates advertiser.

The Bank of America® Customized Cash Rewards credit card suits consumers who want to decide where they earn rewards. You choose your top-tier rewards from categories that include gas, online shopping, dining, travel, drug stores, and home improvement/furnishings. You can change your mind as often as once each calendar month or leave your choice unchanged indefinitely.

Bank of America® Unlimited Cash Rewards credit card Review

at Bank Of America’ssecure website

CASH BACK RATING

★★★★★

4.7

OVERALL RATING

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • If you’re a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 1.87%-2.62% cash back on every purchase with Preferred Rewards.
  • No annual fee.
  • No limit to the amount of cash back you can earn and cash rewards don’t expire.
  • New longer intro period! 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% – 28.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
  • Contactless Cards – The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 18 billing cycles for purchases
0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days
18.24% – 28.24% Variable APR on purchases and balance transfers
$0
Excellent/Good

Additional Disclosure: Bank of America is a CardRates advertiser.

Perhaps you prefer the simplicity of unlimited flat-rate cash back on all your purchases. The Bank of America® Unlimited Cash Rewards credit card fulfills this mission admirably while charging no annual fee. Happily, that flat rate fattens when you become a Preferred Rewards member. As with all Bank of America cards, you want to avoid late payments, or they may jack up your APR and charge you a late fee.

3. Bank of America Customized Cash Rewards Card for Students

The Bank of America® Customized Cash Rewards Card for Students offers the same rewards as its non-student counterpart. You get to choose your top-tier bonus category.

  • Earn 3% cash back in the category of your choice
  • Low introductory APR offer
  • Free FICO Score updated monthly
  • $0 annual fee 

You’ll also earn a signup bonus if you satisfy the minimum spending requirement within the first 90 days after account opening. Through Balance Connect®, you can link the card to a Bank of America checking account to cover overdrafts. The card also features account alerts, FICO score access, and digital wallet technology.

4. Bank of America Customized Cash Rewards Secured credit card

The Bank of America® Customized Cash Rewards Secured Credit Card allows you to earn handsome cash back rewards and rebuild your credit simultaneously. You choose which merchant category will provide the highest cash back rate, and you can choose a different one each calendar month.

  • Earn 3% cash back in the category of your choice
  • $200 minimum deposit required
  • Free FICO Score updated monthly
  • $0 annual fee

Bank of America sets your maximum credit limit based on your security deposit, income, and ability to pay your bill. The bank may eventually refund your collateral if you consistently pay on time. This unlimited cash rewards card works with popular digital wallets, including those from Google, Apple, and Samsung.

(The information related to the Bank of America® Customized Cash Rewards Card for Students and Bank of America® Customized Cash Rewards Secured Credit Card has been collected by CardRates.com and has not been reviewed or provided by the issuer or provider of this product or service.)

Other Bank of America Rewards Cards

Bank of America also offers two travel cards and a third for the frugally minded. All three provide good value, and its Balance Connect® service for bank customers can help prevent declined purchases, returned checks, and other overdrafts when you link your Bank of America checking account to your card account.

Bank of America® Premium Rewards® credit card Review

at Bank Of America’ssecure website

EXPERT’S RATING

★★★★★

4.8

OVERALL RATING

  • Receive 50,000 online bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening.
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points for every $1 spent on all other purchases.
  • If you’re a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means you could earn 2.5-3.5 points on travel and dining purchases and 1.87-2.62 points on all other purchases, for every $1 you spend.
  • No limit to the points you can earn and your points don’t expire.
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill® accounts, or gift cards or purchases at the Bank of America Travel Center.
  • Get up to $100 in Airline Incidental Statement Credits annually and TSA PreCheck®/Global Entry Statement Credits of up to $100, every four years.
  • No foreign transaction fees.
  • Low $95 annual fee.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
20.24% – 27.24% Variable APR on purchases and balance transfers
$95
Excellent/Good

Additional Disclosure: Bank of America is a CardRates advertiser.

The Bank of America® Premium Rewards® credit card is one of the best cards for consumers who want travel benefits and top rewards on each purchase. You get a signup bonus when you spend the required amount on purchases in the first 90 days after account opening.

You also get a travel statement credit to reimburse you for airline incidentals and TSA PreCheck®/Global Entry fees. This premium reward card does not charge foreign transaction fees.

Bank of America® Travel Rewards credit card Review

at Bank Of America’ssecure website

EXPERT’S RATING

★★★★★

4.7

OVERALL RATING

  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don’t expire.
  • 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – that can be a $250 statement credit toward travel purchases.
  • Use your card to book your trip how and where you want – you’re not limited to specific websites with blackout dates or restrictions.
  • Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
  • New longer intro period! 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% – 28.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
  • If you’re a Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
  • Contactless Cards – The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 18 billing cycles for purchases
0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days
18.24% – 28.24% Variable APR on purchases and balance transfers
$0
Excellent/Good

Additional Disclosure: Bank of America is a CardRates advertiser.

The Bank of America® Travel Rewards credit card is a good choice for consumers who like to travel. It offers a signup bonus and the standard flat rewards rate on all purchases. The card never charges an annual or foreign transaction fee.

Your reward points never expire. You can redeem your points for a statement credit to pay for travel and dining purchases, with no blackout dates or booking restrictions. The card frequently offers 0% intro APRs on purchases and qualifying balance transfers.

BankAmericard® credit card Review

at Bank Of America’ssecure website

EXPERT’S RATING

★★★★★

4.6

OVERALL RATING

  • New longer intro period! 0% Introductory APR for 21 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% – 26.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
  • No annual fee.
  • No penalty APR. Paying late won’t automatically raise your interest rate (APR). Other account pricing and terms apply.
  • Access your FICO® Score for free within Online Banking or your Mobile Banking app.
  • Contactless Cards – The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 21 billing cycles for purchases
0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days
16.24% – 26.24% Variable APR on purchases and balance transfers
$0
Excellent/Good

Additional Disclosure: Bank of America is a CardRates advertiser.

The BankAmericard® credit card has no annual fee nor penalty APR. The card doesn’t offer rewards, but its 0% interest rate can save you a lot of money, whether you need to finance a large expense or transfer high-interest debt from another card. The 0% rate will revert to the standard APR after the promotional period expires.

Additional benefits include fraud liability protection, account alerts, and free access to your FICO score (updated monthly, opt-in required). The card works with digital wallets and contactless tap-to-pay.

Competing Cash Back Cards From Major Banks

You may find yourself right at home with one of these cash back cards if you don’t hold your checking and savings with Bank of America. A few cards advertise cash back but actually use point rewards that you can quickly redeem for cash.

Chase Freedom Unlimited® Review

at Chase’ssecure website

CASH BACK RATING

★★★★★

5.0

OVERALL RATING

  • INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back!
  • Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.24% – 27.99%.
  • No annual fee – You won’t have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
0% Intro APR on Balance Transfers 15 months
19.24% – 27.99% Variable
$0
Good/Excellent

The Chase Freedom Unlimited® features a new card signup bonus, 0% intro APR promotions, and an extraordinary first-year rewards rate on all purchases, including bookings through Chase Travel. Benefits include auto rental collision damage waiver, extended warranty protection, and trip insurance, making it a solid choice as the best credit card in this review.

Unlike other Chase Ultimate Rewards card offerings, this card has chip & PIN capability for superior security. To qualify, you must have a good-to-excellent credit score, meaning a 680 FICO score or higher may be sufficient for most applicants. 

CASH BACK RATING

★★★★★

4.9

OVERALL RATING

  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.49% – 28.49%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
0% Intro APR Period 18 months on Balance Transfers
18.49% – 28.49% (Variable)
$0
Excellent, Good

Additional Disclosure: Citi is a CardRates advertiser.

You can redeem the ThankYou Points from the Citi® Double Cash Card for cash via a check, statement credit, or direct deposit. Alternatively, you can use your points for travel, shopping, and gift card purchases.

The Citi® Double Cash Card provides 24/7 customer support, contactless pay, compatibility with digital wallets, and special access to entertainment events. The card addresses security concerns with around-the-clock fraud protection through Citi Identity Theft Solutions, Citi Lost Wallet Service, and zero liability for unauthorized charges. If you’d prefer a World Elite Mastercard, consider the Citi Premier® Card.

Discover it® Cash Back Review

at Discover Card’ssecure website

CASH BACK RATING

★★★★★

4.8

OVERALL RATING

  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Every $1 you earn in cash back is $1 you can redeem.
  • Get a 0% intro APR for 15 months on purchases. Then 16.24% to 27.24% Standard Variable Purchase APR applies, based on credit worthiness.
  • No annual fee.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 15 months
0% Intro APR for 15 months
16.24% – 27.24% Variable APR
$0
Excellent/Good

It’s hard to beat the cash rewards you earn from the Discover it® Cash Back. The quarterly rotating bonus categories include grocery stores and restaurants, gas stations, warehouse stores, Walmart and Target, and even Amazon. You must activate the new rotating bonus category to receive the special rate on quarterly purchases.

New cardholders receive Discover’s unlimited Cashback Match on all rewards posted in the first year. Cash back can be redeemed in any amount and at any time. The card features a free FICO credit score, US-based customer service, and no annual fee.

CASH BACK RATING

★★★★★

4.8

OVERALL RATING

4.8/5.0
  • Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • $0 annual fee and no foreign transaction fees
  • Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options. Terms apply
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won’t expire for the life of the account and there’s no limit to how much you can earn
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
0% for 15 months
19.24% – 29.24% (Variable)
$0
Excellent, Good

The Capital One Quicksilver Cash Rewards Credit Card offers the same flat-rate cash back as the Bank of America Unlimited Cash Rewards credit card. It also offers a promotional 0% intro APR on purchases and balance transfers, but its promotional period is shorter than that of the Bank of America card.

Your rewards do not expire while the account remains open. You can redeem any amount of cash back at any time through a statement credit or a check. If you prefer, you can use your rewards to cover recent purchases, get a gift card, make online purchases using PayPal Pay with Rewards, or pay for purchases at Amazon.com.

Blue Cash Preferred® Card Review

at the issuer’ssecure website

CASH BACK RATING

★★★★★

4.7

OVERALL RATING

  • Earn $300 back in the form of a statement credit after you spend $3,000 in purchases on your new Card within the first 6 months of Card Membership.
  • Earn 6% cash back at U.S. supermarkets on up to $6,000 per year on purchases (then 1%). Also earn 6% cash back on select U.S. streaming subscriptions.
  • Earn 3% cash back on transit, including U.S. gas stations, taxis/rideshare, parking, tolls, trains, buses, and more. All other purchases earn 1% cash back.
  • $120 Equinox Credit – Use your Blue Cash Preferred Card to pay for Equinox+ at equinoxplus.com and receive $10 in monthly statement credits. Enrollment required.
  • 0% intro APR for 12 months from the date of account opening, then a variable APR applies
  • $95 Annual Fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 12 months
N/A
16.99% – 27.99% Variable
$95
Excellent Credit

The Blue Cash Preferred® Card leads the pack for grocery rewards, offering the highest cash back rate on purchases at US supermarkets. We calculate that the average US household can earn around $300/year by using this card for groceries. 

Deduct the annual fee, and you’re still ahead by about $200 a year. And that doesn’t include additional cash back earned in other categories, including bonus rates on streaming, transit, and gas purchases. Other benefits include a signup bonus, car rental loss and damage insurance, and purchase return protection.

What Is a Cash Back Card?

A cash back credit card returns a small percentage of every eligible purchase in cash (or points easily converted to cash). There are different types of cash back cards in terms of how they pay rewards:

Types of cash back credit cards

The cards we’ve reviewed offer cash back rewards of up to 6% on bonus categories or up to a flat 2% rate (or more) on all purchases. It’s almost as if you have a coupon for every purchase.

How Do I Qualify For a Cash Rewards Card From Bank of America?

You must be at least 18 years old and satisfy the bank’s credit requirements to apply for a Bank of America credit card. A card may not be available if you currently have or have had the card in the past 24 months. 

Additionally, reports suggest that you can obtain no more than two Bank of America credit cards in a rolling two-month period, three credit cards in a rolling 12-month period, and four credit cards in a rolling 24-month period.

The bank’s card application requires you to submit the following data:

  • Name
  • Address
  • Phone number
  • Email address
  • Citizenship
  • Date of birth
  • Employment status
  • Total annual income
  • Monthly housing payment

The bank performs a hard credit check to confirm the information in your application. It will not issue you a card if it cannot verify your identity. You can streamline the application process if you are already a Bank of America customer, as much of the required information is already on file.

How Do I Redeem My Bank of America Cash Back Rewards?

You can redeem your Bank of America cash back rewards in three ways:

  • Website: To check your rewards balance or redeem it online, log in to Online Banking, select your credit card, and then select the Rewards tab.
  • Mobile app: Log in to the Mobile Banking app and tap the View My Rewards link to redeem your available rewards balance. You can also tap the Erica icon and say, “I want to redeem credit card rewards,” and follow the instructions (if you prefer, you can also type your message to Erica).
  • Phone: To redeem your credit card rewards by phone, call (800) 434-8313 and select Option 2 (available Mon-Fri 9 AM to 9 PM ET).

Cash reward redemptions have a $25 minimum, and you can start redeeming after your first billing cycle. You can apply your cash back as a statement credit. 

Alternatively, you can take your cash as a direct deposit to your Bank of America checking or savings account or your Merrill Lynch Cash Management Account or 529 Account. You can request a personal check but may have to wait two or more weeks to receive it.

What Benefits Should I Expect From Bank of America Cash Back Cards?

The three unsecured Bank of America cash back cards offer lucrative signup bonuses, and Preferred Rewards members earn 25%-75% more cash back on every purchase. The cards frequently run 0% intro APR promotions on purchases and balance transfers, in addition to:

  • A $0 liability guarantee against fraudulent transactions
  • Contactless chip technology supporting tap-to-pay checkout
  • Balance Connect overdraft protection using your Bank of America checking account
  • Paperless statements
  • Digital wallet technology
  • Online and mobile banking
  • Account alerts
  • Free FICO scores
  • No annual fee

The Bank of America Customized Cash Rewards Secured Credit Card provides the same benefits except for the signup bonus and 0% intro APR promotions.

Do I Need Good Credit to Get a Cash Back Card?

The bank requires excellent credit for its Bank of America® Customized Cash Rewards credit card and Bank of America® Unlimited Cash Rewards credit card. You generally need a FICO score of at least 750 to qualify for these cards.

You can get the Customized Cash Rewards Credit Card for Students with no or limited credit history. If you do have a credit score, it must be at least fair (above 580), though ideally higher. The Bank of America Customized Cash Rewards Secured Credit Card does not require a credit score to apply.

FICO and VantageScore credit score tiers
Bank of America offers cash back credit cards for all credit score ranges.

You may be able to get a cash back card from another bank or credit union even if you have only fair credit. Credit union customers generally have access to low-cost prime and subprime credit cards.

Which Is Better: Cash Back or Points?

Points may be a little more versatile than cash back for these reasons:

  • Cash back rewards are easy to value because a $1 reward is worth exactly $1. But point rewards may be worth more, less, or the same as cash rewards, depending on the context. For example, some cards increase the value of reward points when you redeem them for travel.
  • Some points cards allow you to transfer rewards to another loyalty program as points or miles. For example, you can transfer Chase Ultimate Rewards points to Delta Skymiles. 
  • A points card typically offers more redemption options.

Cash back rewards are simple to redeem. Be aware of any restrictions, such as minimum redemption amounts. Some card issuers revoke any unredeemed rewards if you cancel the account.

Bank of America’s Cash Back Cards Are Worth Serious Consideration

Bank of America’s cash back credit cards are well-positioned against competition from other large banks. Those more familiar with travel credit cards may notice that the cash back variety offers relatively fewer benefits, instead concentrating on rewards and bonuses. That’s a good reason to consider owning both types of cards.

In any event, you don’t have to be a Bank of America customer to get one of its credit cards, but they’re a natural choice if you are.

Advertiser Disclosure

CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.