BankAmericard Cash Rewards Visa Review
A Very Good Cash-Back Card with a Generous Start-Up Bonus
The BankAmericard Cash Rewards Visa offers a generous $100 online cash rewards bonus if you spend at least $500 in purchases in the first 90 days of opening your account. The bonus is only available to new card customers. There's no annual fee and a 0% introductory rate on purchases and balance transfers for the first 12 billing cycles.
BankAmericard Cash Rewards Visa Review Rewards Program
The BankAmericard Cash Rewards Visa has a tiered cash rewards program that pays higher rewards on certain purchases. You can maximize the rewards you earn by concentrating your spending in the categories that pay the most rewards.
You can earn 3% on gas and 2% on grocery and wholesale club purchases on up to $2,500 in combined purchases in these categories each quarter. All other purchases made in retailers that aren't in these categories earn 1% cash back. After you've charged $2,500 in combined gas, grocery, and wholesale club purchases in a quarter, purchases in these categories will earn rewards at 1%.
Many credit cards require you to enroll each quarter to earn rewards in the top category. With the BankAmericard Cash Rewards Visa, you'll automatically 3% rewards on qualified purchases - no enrollment necessary.
Being a Bank of America customer will let you receive bonuses on your rewards. For example, if you redeem your rewards into a checking or savings account, you'll get a 10% customer bonus. So, a $25 reward redemption will allow you to deposit $27.50 into your Bank of America account. Bank of America Preferred Rewards clients receives a bonus of up to 25%. If you're not already a Bank of America bank customer, the BankAmericard Cash Rewards Visa should make you consider becoming one.
Introductory Offer and Pricing Details
APRs. Enjoy a 0% introductory rate for the first 12 billing cycles on purchases and any balance transfers you make in the first 60 days of opening your account. Balance transfers still incur a fee (more on the fee below), so keep that in mind as you consider whether to transfer a balance to your card.
The regular APR for purchases and balance transfers is 13.24% to 23.24%. Your exact APR will depend on your credit history and other factors.
- Cash advance APR: 16.24% to 25.24%
- Bank cash advance APR: 25.24%
- Penalty APR: 29.99%
Fees. There's no annual fee for the BankAmericard Cash Rewards Visa. Balance transfers are charged a fee of 3% of the transfer amount or $10, whichever is greater. Cash advances are charged a minimum of $10, 3%, or 5% depending on the type of advance. If you use your card for overdraft protection, you'll be charged a $12 fee for advances over $12. Late payments can be charged up to $37 and returned payments up to $27. Foreign transactions are charged 3% fee.