Home » Credit Card Reviews » Best Bank of America Credit Cards

Best Bank of America Credit Cards

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Dec 02, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Bank of America offers several credit cards for personal and business use that can benefit you in many ways. There are cards suited for earning cash back or rewards in various categories such as travel and grocery shopping, as well as cards for financing new purchases or transferring debt — and more. Plus, if you’re a Bank of America Preferred Rewards member, you may be able to enjoy added benefits, which we’ll review in more detail below.

In this roundup, we’ll discuss our top picks for Bank of America credit cards, plus common features that all Bank of America credit cards have.

Best for cash back:

What we like

  • $0 annual fee
  • The ability to get out of debt and finance new purchases. There’s a 0% Introductory APR on purchases for 15 billing cycles and 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days (after, 15.49% - 25.49% Variable APR on purchases). This card can help you save on high-interest charges if you transfer a balance or pay off new purchases over time.

What we don’t like

  • Rewards are limited quarterly in the bonus categories. You can earn 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, 1% cash back on every purchase  The quarterly limit applies to all purchases in the bonus categories, so big spenders in those categories may not earn the most cash back compared with other gas and grocery cards. But the $2,500 limit per quarter is higher than some other cards that limit bonus categories at $1,500 a quarter.

Rewards breakdown

This card is ideal for people who often shop at grocery stores and wholesale clubs and spend on gas. You earn 3% cash back on gas or your choice of one of five other popular categories, 2% at grocery stores and wholesale clubs and unlimited 1% on all other purchases (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). Rewards can be redeemed for a statement credit, check, electronic deposit into a Bank of America® checking or savings account, or a contribution to an eligible Cash Management Account® with Merrill. But it’s key to note you can find other cashback cards that earn higher rates for gas and grocery purchases.

Best for travel:

What we like

  • $0 annual fee
  • Simple rewards program. This card offers a simple flat-rate rewards program that does not require activation or involve rotating bonus categories. You simply 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire.
  • Decent sign-up bonus. This card offers 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.

What we don’t like

  • Slightly below-average rewards rate. You 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire. This is just OK compared with other travel cards with higher rewards rates for travel purchases, though they may offer a low one point per dollar on non-travel spending.

Rewards breakdown

This card offers a decent flat rate where you can 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire. You have the flexibility to redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars or baggage fees. Other redemption options include gift cards, a check or electronic deposit into a Bank of America® checking or savings account, or a contribution to an eligible Cash Management Account® with Merrill.

Best premium travel card:

What we like

  • Low $95 annual fee. Compared with other travel cards that have annual fees as high as $550, the $95 annual fee charged by this card is significantly less.
  • Sign-up bonus. This card has a great offer for new cardmembers — 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening.

What we don’t like

  • Average rewards program: Cardholders earn 2 points for every $1 spent on travel and dining purchases, 1.5 points per $1 spent on all other purchases, Get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections, Trip Cancellation/Trip Interruption provides reimbursement of up to $5,000 per person, per trip, for the unused prepaid non-refundable travel expenses including passenger fares, tours, and hotels if you have to cancel due to a covered reason. You can easily find cards that offer a consistent 2%, or two points per dollar on all purchases, making the rewards offered by the Bank of America® Premium Rewards® credit card just OK if you’re not a Preferred Rewards member. But, if you are a Preferred Rewards member, you can earn an effective 3.5 points per dollar on travel and dining purchases and 2.6 points on all other purchases.

Rewards breakdown

2 points for every $1 spent on travel and dining purchases, 1.5 points per $1 spent on all other purchases, Get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections, Trip Cancellation/Trip Interruption provides reimbursement of up to $5,000 per person, per trip, for the unused prepaid non-refundable travel expenses including passenger fares, tours, and hotels if you have to cancel due to a covered reason. This rate is good if you typically spend on travel and dining. Points can be redeemed in several ways: statement credit, into an eligible Bank of America® or Merrill account (including checking, savings and 529), to purchase travel (air, car and hotel) through the Bank of America® Travel Center, or redeem for gift cards.

Best for balance transfers:

What we like

  • $0 annual fee
  • The ability to get out of debt and finance new purchases. This card offers a 0% Introductory APR on purchases for 18 billing cycles and 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days (after, 14.49% - 24.49% Variable APR). If you want to transfer debt from a non-Bank of America credit card or pay off new purchases over time, the intro offers can come in handy and save you money on interest charges — as long as your balance is paid off before the intro periods end.

What we don’t like

  • Balance transfer fee: This card has a BT fee of either $10 or 3% of the amount of each transaction, whichever is greater. And while many balance transfer cards have BT fees that may be worth the amount you save on interest, there are cards from other issuers that offer intro $0 balance transfer fees that can save you even more money.

Best for small businesses:

What we like

  • $0 annual fee
  • The ability to finance new purchases. This card has an intro 0% for 9 billing cycles on purchases (after, 13.74% - 23.74% Variable APR). Compared with other business cards, that’s a good length of time if you are unable to pay off new purchases right away.
  • Great new cardmember offer. Earn a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening. This is one of the best offers for a business card since other cards may require up to $10,000 in spending in a designated timeframe to receive a bonus.

What we don’t like

Rewards breakdown

Business owners can benefit from 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter) and 1% cash back on all other purchases. This rate is ideal if your business typically clocks a lot of mileage, orders office supplies and goes out for meals. Rewards can be redeemed for a statement credit, check, electronic deposit into a Bank of America® checking or savings account, or a contribution to an eligible Cash Management Account® with Merrill.

How the credit card rewards bonus works

If you’re a Bank of America Preferred Rewards member, you can earn 25% to 75% more cash back on every purchase depending on what tier (Gold, Platinum, Platinum honors) you’re in when you either redeem cash rewards into a Bank of America® checking or savings account or an eligible Cash Management Account® with Merrill (applies to cash rewards cards) or make a purchase (applies to points-based rewards cards).

With the Bank of America®-branded business credit cards, there are Business Advantage Relationship Rewards, which offer the same credit card cashback rate of 25% to 75%, depending on your balance in the eligible accounts mentioned above. This bonus is a fantastic way to increase the rewards you earn and enhance the credit card offerings.

Here are the Preferred Rewards and Business Advantage Relationship Rewards tiers so that you can see what bonus for which you may qualify:

Gold Platinum Platinum honors
Required three-month average combined balance $20,000 – $49,999 $50,000 – $99,999 $100,000+
Credit card rewards bonus 25% 50% 75%

Recommended Posts:

The Business Platinum® Card from American Express

Who the card is best for The Business Platinum Card® from American Express is a fantastic business card for businesses that travel often and want to make future trips more luxurious. Beyond the rewards program, there are dozens of perks that can make flying less expensive and hassle-free, such as airline fee credits, lounge access and concierge service. Businesses that don’t […]

Read More

Read More

Lord & Taylor Credit Card Review

If you’re a frequent Lord & Taylor shopper, you’ve likely been asked if you want to apply for a Lord & Taylor Credit Card at checkout, and you may be wondering if it’s worth filling out an application and adding another card to your wallet. Rest assured, the Lord & Taylor Credit Card is a solid offering that rewards loyal Lord & Taylor […]

Read More

Read More

Wells Fargo Visa Signature Card Review

The Wells Fargo® Visa Signature® Credit Card has a solid 0% introductory APR offer for purchases and balance transfers and strong rewards for the first six months you hold the card, but a less-than-stellar ongoing rewards rate. The offer includes an intro 0% for 15 months for purchases and an intro 0% for 15 months for balance transfers, then an APR of 14.24% to 27.74% (variable) applies for […]

Read More