BankAmericard Cash Rewards Credit Card

BankAmericard Cash Rewards Credit Card
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92 User Score
257 Clicks

BankAmericard Cash Rewards Credit Card

Why People Love It
  • Getting 1% cash back on everything is awesome! 3% cash back on gas, and 2% cash back on grocery stores (and wholesale clubs!) is even better.
  • Merrill Lynch or Bank of America customer? You're eligible for additional cash back bonuses!
  • Earn a nice signup bonus ($150) when you spend $500 in 90 days.
92 User Score
257 Clicks

Most cash back credit cards tend to have strict definitions in terms of major spending categories, not to mention an annoying process that doesn't benefit you if you forget to opt-in. Luckily, that's not the case with the BankAmericard Cash Rewards Credit Card, which is unlike many of the other options on this list in terms of a broad definition of what's included in each spending category, with categories that don't change every month or quarter. Unlike some of the other cash back credit cards on this list, spending at wholesale clubs is included in the 2% cashback.

The main drawback of the BankAmericard Cash Rewards Credit Card has to do with how you access the cash back you've earned. In this case, the minimum redemption amount is $25.



Application Process: Online, with a response in as little as 60 seconds after application submission.

Annual Fee: Absolutely none! There is, however, a balance transfer fee of $10, or 3% of balance transfer amount (whichever is higher). If you use your credit card for international purchases, a foreign transaction fee of 3% of the amount will added on top of your purchase.

APR: 0% for the first 12 months, then a variable APR of 13.74% to 23.74% depending on credit score. 

Rewards: Your cash back options take many forms when using the BankAmericard Cash Rewards Credit Card:

  • Statement credit
  • Check
  • Bank of America checking or savings account deposit. This can earn you a 10-75% bonus, depending on what kind of Bank of America client you are.
  • Deposits into Merrill Lynch Cash Management accounts

Bonus OffersGet $150 cash rewards bonus after making a $500 purchase within 3 months of signing up. As with regular everyday rewards, gain an additional 10% if you deposit your signup bonus into a Bank of America checking or savings account, which can be between 25-75% if you're a Preferred Rewards client.

  • No annual fee
  • $150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
  • Earn 1% cash back on every purchase, 2% at grocery stores and wholesale clubs, and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter
  • No changing categories and no expiration on rewards
  • 0% Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days, then, 14.24% - 24.24% Variable APR. 3% fee (min $10) applies to balance transfers
  • Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account
  • If you're a Preferred Rewards client, you can increase that bonus to 25% - 75%