Bank of America® Unlimited Cash Rewards credit card
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in our Bankrate review
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For everyday cardholders, Bank of America® Unlimited Cash Rewards credit card‘s 1.5 percent cash back rewards rate is on par with other flat-rate cards. But Bank of America Preferred Rewards members with at least $20,000 across their accounts can reap a boosted 1.87 to 2.62 percent cash back. The card also offers a 0 percent intro APR for the first 15 billing cycles (then a 18.24% – 28.24% Variable APR on purchases and balance transfers) and any balance transfers made within the first 60 days (don’t forget the balance transfer fee: 3% for 60 days from account opening, then 4%.
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Pros
- You can earn a decent rewards rate and welcome bonus for no annual fee, and even more rewards if you currently bank and save with Bank of America.
- Transfer a balance or pay off a purchase interest-free for a relatively long intro period (then 18.24% – 28.24% Variable APR on purchases and balance transfers)
Cons
- The spending requirement for the welcome bonus is higher than average, and the savings minimum to reach Preferred Rewards status is also high.