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Bank of America Cash Rewards
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
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.
Bank of America Application Tips Click here to check your application status
Bank of America Application Tips
Click here to check your application status
Last updated on May 30th, 2018