VISAVisa Signature

Bank of America Unlimited Cash Rewards Credit Card

Unlimited 1.5% cash back on every purchase, with no annual fee

Earn unlimited 1.5% cash back on all purchases with $0 annual fee, a $250 online cash rewards bonus, and up to 2.62% with BofA Rewards

Annual Fee: $0
cash back · Welcome Bonus: $250

Terms checked against the issuer on October 10, 2026

Apply on Bank of America's site

At a Glance

Annual Fee: $0
Foreign Transaction Fee: 3%
Network: Visa Signature
Rewards Currency: Cash
Point Valuation: 1¢ (cash back)
Credit Required: Good to Excellent

Welcome Offer

Bonus: $250 cash back

Spend: $1,000

Period: 3 months

Earning Rates

1.5%
All Other
Unlimited 1.5% cash back on all purchases

Earning Scenarios

1.5% cash back on everything

Earn unlimited 1.5% cash back on all purchases with no category tracking or activation required

Up to 2.62% with BofA Rewards

BofA Rewards members earn 10-75% more cash back depending on tier, boosting the base rate to as high as 2.62%

Benefits & Perks

Annual Credits & Statement Credits

2 credits

3% balance transfer fee
Transfer balances with a low 3% intro fee (first 60 days) and enjoy 0% APR for 15 months
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Annual
0% APR 15 months
Enjoy 0% introductory APR for 15 months on purchases and balance transfers
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Annual

Program & Transfers

Bank of America Rewards Points

View Program

Bank of America Rewards Points is a straightforward statement credit program with a fixed 1 cpp value for travel and dining redemptions. There are no transfer partners, so redemption flexibility is limited compared to Chase Ultimate Rewards or American Express Membership Rewards. However, the Preferred Rewards program can significantly boost earning rates by up to 75% for members with qualifying Bank of America and Merrill combined account balances.

Currency: Bank of America points

Point Value: 1 cpp

Range: 0.6–1 cpp

Program Ratings

Bankrate

4.2/5

PointsNav

4.8/10#38

Broad Coverage

5/10

Everyday Usefulness

4/10

Earn/Redeem Efficiency

4/10

Policy Fairness

6/10

Ease Of Holding

8/10

Product/Transfer Quality

2/10

Forbes Advisor

Recent Changes & News

Feb 7, 2026policy change

Bank of America is rebranding its Preferred Rewards program to 'BofA Rewards' in May 2026 with updated tier names, new elite benefits, and refreshed asset thresholds for Diamond tier

Sweet Spots — Best Redemptions

Route / Property	Points	Cabin/Type	Value / Region
Domestic roundtrip flight statement credit	30,000–50,000	—	United States
International economy flight statement credit	60,000–100,000	economy	Europe
Premium cabin international flight statement credit	100,000–150,000	business	Asia
Hotel stay statement credit	15,000–30,000	—	United States
Vacation rental statement credit	20,000–40,000	—	United States
Dining statement credit	2,500–10,000	—	Global

Reviews & Analysis

Third-Party Rankings & Ratings

4 sources

U.S. News4.2/5

Bankrate3.6/5

PointsNav—

WalletHub4.2/5

Editorial Review

Adam SeperReviewed by Jason FoleyPointsNavFeb 8, 2026

We don't recommend this card due to its minimal rewards and lack of valuable travel benefits. Better options exist that provide stronger incentives to continue with the points and miles hobby, even among no-annual-fee alternatives.

Key Takeaways

We don't recommend this card. It offers a low sign-up bonus and lacks meaningful travel benefits or other valuable perks typically found in cards we recommend. While no-annual-fee cash back cards like this one might seem appealing to beginners due to their simplicity, we suggest choosing a higher-value card with more substantial rewards that will keep you motivated in the points and miles hobby. Using one of your 5/24 slots on this card isn't advisable.

Why This Card Could Be Right For You

This card offers simplicity and cash back rewards with minimal commitment. The main advantages include:

Easy sign-up bonus: Spend $1,000 in the first three months to earn $250 cash back — an immediate 25% return on purchases you would have made anyway.
Consistent cash back rate: Earn 1.5% cash back on all purchases with no rotating categories or spending caps to track.
No annual fee: Keep the card long-term without worrying about justifying a recurring cost.

Beyond these core features, the card offers few additional benefits, which is typical for no-annual-fee cash back cards. You can potentially increase your earnings through the Preferred Rewards program, but even with this enhancement, you'd likely benefit more from opening a different card with a higher welcome offer rather than continuing to use this card with its modest returns.

The Preferred Rewards Program requires an eligible Bank of America personal checking account and a three-month average balance of at least $20,000 across all Bank of America and Merrill Investment accounts. This qualifies you for Gold Tier status, providing a 25% earning bonus on your cash back. Higher tiers offer even greater bonuses, with Platinum Honors and Diamond tiers providing up to 75% more cash back.

Read full review (3 more sections)

When The Usual Advice Doesn't Apply

This card might not be suitable for you because:

It provides minimal rewards value with its low sign-up bonus and 1.5% cash back rate. Better options exist, even among no-annual-fee cards.

What to Know About Bank of America

Bank of America Travel Rewards is a low tier program in the points and miles hobby:

There are one or two cards worth getting, but only in the right situations
Having an existing relationship with the bank or needing a break from the big credit card issuers are the main reasons you might want to get into this system
Redeeming rewards is simple and straightforward, but you’ll only earn 1 cent per point at best
Many cards only offer cash back rewards
Its lack of any transfer partners puts this system near the bottom of our rankings

How The Bank of America Unlimited Cash Rewards Credit Card Fits In The Bank of America Ecosystem

Bank of America offers several cards that form a progression of increasing value and benefits. Understanding where the Unlimited Cash Rewards fits can help you determine if it's right for your needs:

Bank of America Customized Cash Rewards(No annual fee)

$200 welcome offer with more targeted rewards
Choose one category for 3% cash back
Earn 2% on groceries and wholesale clubs
Limited by a $2,500 combined quarterly spending cap (1% thereafter)

For those ready to advance beyond basic cash back cards, Bank of America offers two premium options:

Bank of America Premium Rewards ($95 annual fee)

Significantly higher value with a 60,000-point sign-up bonus after $4,000 spend in 90 days
Enhanced earning structure: 2x points on travel and dining, 1.5x points on everything else with no spending limits
Valuable travel benefits that justify the annual fee:
$100 Airline Incidental Statement Credits
$100 credit for TSA Precheck or Global Entry

Bank of America Premium Rewards Elite ($550 annual fee)

75,000-point sign-up bonus after $5,000 in purchases within 90 days
Same earning rates as the Premium Rewards card (2x on travel/dining, 1.5x on everything else)
Premium benefits package worth $550 in statement credits:
$300 for Airline Incidentals
$100 for TSA Precheck/Global Entry
$150 for lifestyle conveniences (streaming, food delivery, fitness subscriptions)
Additional luxury perks like 20% savings on airfare when paying with points and up to four complimentary Priority Pass Select Memberships

With all Bank of America cards, participation in their Preferred Rewards program can significantly boost your earning potential based on your banking relationship, making even their premium cards potentially more valuable for existing Bank of America customers.

Pros and Cons

Pros

+Unlimited 1.5% cash back on all purchases
+No annual fee
+$250 welcome bonus after $1,000 spend
+0% intro APR for 15 months on purchases and balance transfers
+No category tracking required
+Unlimited earning with no caps

Cons

-3% foreign transaction fee
-Flat 1.5% rate, no bonus categories
-Lower earning rate than category-specific cards in bonus areas
-No premium perks or travel benefits

Who It's Best For

Best For

People who want simple, flat-rate cash back
Those with evenly distributed spending across categories
Balance transfer users who want ongoing rewards
BofA Rewards members (earn 10-75% more)

Not Ideal For

International travelers (3% foreign transaction fee)
Heavy spenders in specific categories who could earn more with category cards
Those seeking premium travel benefits

The Math: Is $0 Worth It?

First-year value includes $250 welcome bonus

Welcome bonus$250

Annual credits (60% utilization)$0

Annual fee-$0

Net first-year value+$250

Credit Utilization (60%)

Annual credits$0

Excludes earning value, lounge access, insurance, and elite status

Total Value Captured

Annual Fee

-$0

Net Annual Value

+$0

Details & Terms

Payment Terms

Purchase APR	17.74%–27.74% (Variable)
Foreign Transaction Fee	3%

Card Family

Cash Rewards family

Card	Tier	Annual Fee	Note
Bank Of America Customized Cash	mid	$0	—

Product changes available between family members without a new credit inquiry.

FAQs

Do Bank of America travel rewards points expire?

No, points don't expire as long as your Bank of America credit card account is open and active. Once you close a card, any unredeemed points on that card are lost.

Can I transfer Bank of America points to airline or hotel partners?

No. Bank of America points cannot be transferred to external loyalty programs. You can only redeem them for statement credits, cash back, or gift cards.

What is the minimum redemption for Bank of America points?

You need at least 2,500 points to redeem. That's worth $25 toward travel/dining statement credits or $15 as cash back.

Can I share or transfer points to another person?

No. You cannot transfer points to another cardholder or person. You may be able to transfer rewards between your own eligible Bank of America accounts by calling customer service.

How does Bank of America Preferred Rewards boost my earning rate?

Preferred Rewards members earn 25% (Gold), 50% (Platinum), or 75% (Platinum Honors/Diamond) more points on every purchase. A card earning 1.5x would earn 2.625x at the Platinum Honors tier.

What purchases qualify for travel/dining statement credit redemptions?

Flights, hotels, vacation rentals (including Airbnb), baggage fees, car rentals, and restaurant meals all qualify as travel/dining purchases.

What is the difference between Bank of America card families?

Travel Rewards (no annual fee, 1.5x all), Premium Rewards ($95 AF, 2x travel/dining), Premium Rewards Elite ($550 AF with luxury travel benefits), Customized Cash Rewards (no AF, 5.25% in chosen category), and Unlimited Cash Rewards (no AF, simple cash back).

Media & Resources

Video Reviews

8 videos