BankAmericard Cash Rewards

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Bank of America Cash Rewards
 
 
 
$200 Cash Back
$200 after $500 spend in 90 days
Click Here

$0 Annual Fee

 
 

Card Type: Mastercard World

Earning rate: 2% at grocery stores and wholesale clubs and 3% on gas up to the first $2,500 in combined purchases each quarter

Noteworthy perks: Up to 75% bonus for Preferred Rewards banking customers

Overview

The no-fee BankAmericard Cash Rewards Card offers 2% cash back at grocery stores and wholesale clubs and 3% cash back on gas up to the first $2,500 in combined grocery/wholesale club/gas purchases each quarter; and 1% cash back everywhere else.

On its own, this is a fairly poor cash back card considering that you can get a no fee 2% cash back card instead from Citibank or Fidelity. But, you can get up to a 75% bonus through your banking relationship with Bank of America and/or Merrill Edge. This makes it possible to earn up to: 3.5% at grocery stores and 5.25% on gas up to the first $2,500 in combined purchases each quarter; and 1.75% cash back everywhere else. If you have a very large banking relationship with Bank of America, this card is a great option for a limited amount of grocery, wholesale club, and gas spend.

Overall, this card offers a nice and easy signup bonus, but for long term use it is a good choice only for those with very large Bank of America / Merrill Edge banking relationships.

Application Tips

Bank of America Application Tips


  • 2/3/4 Rule: Max 2 consumer cards per rolling 2 months, 3 per rolling 12 months, and 4 per rolling 24 months.

  • 5 card limit: You will not get approved for a new consumer card if you already have 5 consumer BOA cards open

  • Get Same Card Again: Yes, even if you still have the previous card open.

  • Hard inquiries are usually combined into 1 when initiated within 30 days but there have been reports of TransUnion not combining.


Click here to check your application status
If denied, call reconsideration here: 800-354-0401 (8am-7pm ET Mon-Fri); 866-695-6598 (business cards);

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Last updated on May 30th, 2018

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