Before you decide whether it’s worth signing up for the Bank of America® Unlimited Cash Rewards credit card, it’s important to understand reward rates, fees, and benefits. With that in mind, it’s worth knowing that the Unlimited Cash Rewards card offers users a flat 1.5% cash back on all purchases, and new customers can earn an online cash bonus of $200 after opening an account within 90 days of spending a minimum of $1,000 in purchases.
Another feature worth highlighting is the no-interest introductory offer. When new cardholders apply, they can enjoy an introductory 0% APR on purchases and fund transfers for 15 billing cycles within the first 60 days of account opening (followed by 14, 24% to 24.24% APR interest rate).
Add in the fact that there is no annual fee, and it’s easy to see why the Unlimited Cash Rewards card is worth a look.
Highlights of the Bank of America Unlimited Cash Rewards Credit Card
- Welcome Bonus: $200 Online Cash Bonus after spending $1,000 or more within 90 days of account opening
- Bonus: Unlimited 1.5% cash back on all purchases
- Introductory APR: 0% introductory APR for 15 billing cycles for purchases and fund transfers within 60 days of
- account opening
- Variable APR: 14.24% to 24.24%
- Biaya tahunan: $0
When is the Bank of America Unlimited Cash Rewards Card worth it?
If you’re looking for a cash-back credit card that skips rewards tiers and offers great flat-rate rewards, the Unlimited Cash Rewards Card is worth considering. After all, you get a flat 1.5% cash back on all your purchases, which is sure to increase over time. You can also redeem your rewards for a statement balance, deposit into an eligible Bank of America checking or savings account, or transfer to an eligible Merrill Lynch investment account—including a 529 savings plan.
It’s also worth signing up for this card if you want an introductory 0% interest rate on purchases and balance transfers over 15 billing cycles. (Please note that balance transfers must be completed within the first 60 days to use this course, and there is a 3% balance transfer fee with a $10 minimum.) While this isn’t the longest interest-free offer on the market today, it gives you one Completely skipping hobbies for more than a year.
Finally, if you’re a member of the Bank of America Preferred Rewards program, it’s worth getting this Bank of America card. You must maintain an average balance of at least $20,000 to qualify for the lowest of the five tiers in the program, but becoming a member can earn you 25% to 75% cash back on every $1 spent.
Especially with the Unlimited Cash Rewards Card, joining this program means you can earn anywhere from 1.87% to 2.62% cash back on any purchase.
When is the Bank of America Unlimited Cash Rewards Card not worth it?
If you’re not determined to get a Bank of America credit card, you can use another cash back credit card for even more rewards. Finally, there are rewards cards that offer a higher flat 2% cash back with no annual fee, including the Wells Fargo Active Cash℠ Card.
If you specifically need a card because you’re looking to consolidate high-interest debt, you might also want to check out a balance transfer card, which offers an introductory 0% APR offer for up to 21 months – longer than 6 months Unlimited cash Rewards card offers.
Also keep in mind that rewards from the Unlimited Cash Rewards Card can only be used in a few ways. For example, this card is a bad choice if you want to redeem your rewards for gift cards, travel, merchandise, or other flexible options.
Should you get the Bank of America Unlimited Cash Rewards Card?
Ultimately, you should consider the Bank of America Unlimited Cash Rewards Card if:
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Bank of America credit card is one of your top priorities
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They prefer to earn cashback over other types of rewards
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Flat bonuses are more attractive to you than bonus categories
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You are a member of Bank of America Preferred Rewards
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Avoiding interest for 15 billing cycles sounds like a good deal
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You don’t want to pay an annual fee for your credit card
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If you’re still having trouble deciding on this cash back credit card, it might help to take some time to read Bankrate’s U.S. Bank Unlimited Cash Rewards review.
You can also spend some time comparing other U.S. bank cards, such as the Bank of America® Customized Cash Rewards Credit Card and the Bank of America® Premium Rewards® Credit Card.
Also, make sure to compare this card with similar options from other publishers. With some research and comparison shopping, you’re sure to find the right fit.
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