If you’re looking for a credit card that delivers consistent cash back, no annual fee, and extra perks for loyal banking clients, the Bank of America® Unlimited Cash Rewards is a top-tier option. With 1.5% cash back on every purchase, and the potential to earn up to 2.62% back via Preferred Rewards, this card combines simplicity with scalable rewards — ideal for those who bank with BofA or Merrill.
What is the Bank of America® Unlimited Cash Rewards Card?
The Unlimited Cash Rewards card is a flat-rate cash back credit card from Bank of America that offers:
- 1.5% unlimited cash back on all purchases
- No annual fee
- Bonus earnings of up to 75% more for Preferred Rewards clients
This makes it one of the most flexible and high-potential cashback cards — especially for those with checking, savings, or investment accounts at Bank of America or Merrill.
Key Features and Benefits of the Unlimited Cash Rewards Card
1. Unlimited 1.5% Cash Back on All Purchases
Earn a flat 1.5% back on everything you buy — no rotating categories, no caps, no tracking required.
Whether it’s groceries, subscriptions, gas, or flights, you’ll earn the same elevated rate every time.
2. $200 Online Cash Rewards Bonus
Earn a $200 welcome bonus after making $1,000 in purchases in the first 90 days of account opening — a quick win for a no-fee card.
3. No Annual Fee
There are no fees to hold the card, so your cash back is all upside.
4. Preferred Rewards = Up to 75% More Cash Back
If you’re enrolled in Bank of America’s Preferred Rewards program, your 1.5% can increase to:
- 1.87% (Gold Tier – $20K+ in combined balances)
- 2.25% (Platinum Tier – $50K+)
- 2.62% (Platinum Honors Tier – $100K+)
This transforms a good card into one of the most rewarding flat-rate cards in the U.S. for BofA clients.
5. Intro 0% APR Offer
- Enjoy 0% APR on purchases and balance transfers for the first 15 billing cycles
- After that, a variable APR applies
- Balance transfers must be made within the first 60 days (3% fee applies)
Ideal for financing large purchases or managing existing debt with no interest for over a year.
6. Flexible Redemption Options
Redeem your cash back:
- As statement credit
- Direct deposit into Bank of America or Merrill accounts
- As a contribution to eligible investment accounts
- Automatically or on demand
Rewards never expire as long as your account is open and in good standing.
7. Security and Digital Features
- $0 Fraud Liability
- FICO® Score access for free
- Digital Wallet compatibility (Apple Pay®, Google Pay™, Samsung Pay)
- Customizable alerts and secure login with biometrics
Important Considerations Before Applying
- Best for Bank of America clients: If you’re not part of the Preferred Rewards program, it still earns 1.5% — but competitors like Wells Fargo Active Cash® (2%) may offer more value.
- Foreign transaction fee applies: 3% on purchases made outside the U.S., making it suboptimal for international travel.
- No bonus categories: If you spend heavily in specific areas (e.g., groceries or dining), a category card might yield higher return.
How to Apply for the Unlimited Cash Rewards Card
1. Visit bankofamerica.com
Navigate to the Unlimited Cash Rewards page under “Cash Back Credit Cards.”
2. Review the Bonus and APR Terms
Confirm the current welcome offer, intro APR period, and Preferred Rewards tiers.
3. Click “Apply Now”
Enter your personal, income, housing, and employment information securely.
4. Submit and Wait for Approval
Many applicants receive an instant decision, and the card arrives within 5–10 business days if approved.
Conclusion: Is the Bank of America® Unlimited Cash Rewards Worth It?
Yes — especially for loyal BofA or Merrill customers.
With 1.5% unlimited cash back, a $200 welcome bonus, and 0% APR, it’s already a strong no-fee card. But for Preferred Rewards members, the ability to boost that rate up to 2.62% makes it one of the most rewarding flat-rate cards in the industry.
If you want reliable rewards with the potential to scale, this card delivers — clean, consistent, and connected to your financial ecosystem.
Apply Now and earn unlimited cash back — with even more power if you bank with Bank of America.
