Bank of America Accelerated Cash Rewards American Express Card

Amex With Cash Back Rebate

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This Amex-branded card from Bank of America pays 1.25% cash rebate on spending, plus an additional $50 bonus statement credit just for using it a few times. That's a great deal.

Who This Card Is For

  • People with good credit who want a rich cash-back rewards card
  • People who prefer American Express over Visa and MasterCard

About the Accelerated Cash Rewards Credit Card


  • High cash-back rewards (1.25%).
  • $50 in bonus cash rewards are easily obtainable.
  • No annual fee.
  • No earnings limit.


  • High redemption thresholds (minimum $50).
  • High balance transfer fee (4%).


  • 1.25% cash-back rebate on spending.
  • $50 statement credit if you spend $500 on retail purchases on the card within the first 90 days.


  • 0% for 12 months on purchases and balance transfers made within the first 60 days of account opening.
  • 12.99 to 22.99% after introductory period.
  • Cash advance APR: 22.99 or 24.99% depending on the type of cash transaction.
  • Penalty APR: Up to 29.99%


  • No annual fee.
  • Balance transfer fee: $10 or 4%.
  • Cash advance fee: $10 or 4% (5% depending on the transaction).
  • Foreign transaction fee: 1%.
  • Late payment fee: Up to $35.
  • Returned payment fee: Up to $25.

BofA Accelerated Cash Rewards American Express Card Review

The 1.25% cash-back spending rebate on this card is one of the richest in the industry. In addition, you can earn an additional $50 in statement credits by spending $500 on retail purchases within the first 90 days.

The $50 redemption threshold is a lot higher than other credit cards, some have no minimum redemption amounts, but the higher rebate percentage makes up some of the difference. This card also lacks the 5% cash back on quarterly rotating categories. In exchange you get an extra .25% on all your purchases and you don't have to change how you spend to get it..


The 1.25 percent rebate is attractive enough, but the $50 in statement credits make applying for this card a no-brainer. However, you'll probably need better than average credit to qualify for such a good deal.

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