Bank of America Unlimited Cash Rewards Credit Card Reviews 2023
Cardholders earn an unlimited 1.5% cash back on all purchases.
Bank of America Unlimited Cash Rewards Credit Card Eligibility –
To be eligible for the Bank of America Unlimited Cash Rewards Credit Card, you must meet the following criteria:
- You must be at least 18 years old
- You must have a valid U.S. mailing address
- You must have a valid U.S. Social Security number
- You must have a good to excellent credit score (generally considered to be a score of 670 or higher)
- You must not currently be a Bank of America credit card holder with an open account or a closed account that was closed within the last two years
You will also be required to provide personal information such as your name, address, income, and employment information during the application process. Your creditworthiness will be determined based on a review of this information and a credit check.
Note that this is a summary of the general requirement for this card; for detailed information, please check the bank’s official website.
How to apply for a Bank of America Unlimited Cash Rewards Credit Card?
To apply for the Bank of America Unlimited Cash Rewards Credit Card, you can follow these steps:
- Visit the Bank of America credit card website and navigate to the page for the Unlimited Cash Rewards card.
- Click the “Apply Now” button on the card’s page.
- Fill out the online application form with your personal information, including your name, address, income, and employment information.
- Review and accept the terms and conditions of the card.
- Submit your application.
After you submit your application, Bank of America will review it and decide your eligibility for the card. You will typically receive a decision within a few minutes. If your application is approved, you will be sent the card in the mail, which you must activate before using it.
It’s also worth noting that you can apply for the card over the phone or in person at a Bank of America branch.
Once again, please note that this is a general guide; for detailed information, please check the bank’s official website or contact the bank’s customer service.
Bank of America Unlimited Cash Rewards Credit Card pros –
The Bank of America Unlimited Cash Rewards Credit Card has several benefits, including:
- Unlimited cashback: Cardholders earn an unlimited 1.5% cash back on all purchases, with no limit on how much cash back you can earn.
- Sign-up bonus: New cardholders can earn a $200 cash bonus after spending $1,000 on purchases within the first 90 days of account opening.
- No annual fee: There is no annual fee associated with this card, meaning cardholders can keep the cash they earn without worrying about additional costs.
- Preferred Rewards: Bank of America Preferred Rewards members may qualify for additional benefits, such as a 25%-75% rewards bonus on every purchase.
- No foreign transaction fee: Cardholders can use their card abroad without paying any foreign transaction fees, making it an excellent option for travelers.
- Fraud monitoring: Bank of America offers a service to protect cardholders’ accounts and transactions.
- Access to Bank of America’s online and mobile banking features: Cardholders can access account information, pay bills, and manage their account through the bank’s online and mobile banking platforms.
- Widely accepted: The Bank of America Unlimited Cash Rewards Credit Card is widely accepted, and cardholders can use it at millions of merchants worldwide.
Please check the bank’s official website for detailed information or contact the bank’s customer service.
Bank of America Unlimited Cash Rewards Credit Card cons –
The Bank of America Unlimited Cash Rewards Credit Card has a few drawbacks, including:
- Higher APR: The card has a variable APR that ranges from 15.24% to 25.24%, depending on creditworthiness, which may be higher than some other cash-back cards.
- Balance transfer fee: Balance transfer transactions have a fee of 3% of the amount transferred, with a minimum of $10.
- Cash Advance fee: Cash advance transactions have a fee of either $10 or 5% of each cash advance, whichever is greater.
- Minimum redemption: The minimum redemption for cash rewards is $25.
- Eligibility: Not everyone will be eligible for the card, as it requires a good to excellent credit score.
- Annual income requirement: Some applicants may need a minimum annual income to be eligible for this card.
- No 0% introductory APR: The card doesn’t have any 0% introductory APR on purchases or balance transfers, which means you’ll be charged interest on your purchases and balance transfers immediately.
It’s worth noting that these are general cons, terms, and conditions, and fees might change over time; for detailed information, please check the bank’s official website or contact the bank’s customer service.
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