Best Bank of America Credit Cards of June 2020

Which one should you get? Here are our top picks

Disclosure: We are committed to recommending the best products for our readers. We may receive compensation when you click on links to products, but this never affects our reviews or recommendations .

If you’re looking for the best Bank of America credit cards, we can help. We’ve assessed the bank's flagship cards to find the best mix of valuable rewards on purchases, modest (or absent) annual fees, solid bonuses, and competitive interest-free promotions, among other features. Here are our top picks for cash-back enthusiasts, travelers, small-business owners, and students.

Best Bank of America Credit Cards

Bank of America Cash Rewards Credit Card

Best Overall

,

Best for Cash-Back Rewards

Our Rating Among Bank of America Cards
4.4
Bank of America Cash Rewards Credit Card
Current Offer

Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.

Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 13.99% - 23.99% variable
Annual Fee $0
Rewards Earning Rate Earn 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
INTRO PURCHASE APR 0% for 15 Billing Cycles
Foreign transaction fee (%) 3%
  • WHY WE CHOSE THIS CARD

    Between value and adaptability, this no-annual-fee card is our top pick. Not only are the cash-back rates competitive, but you can tailor your rewards to fit your spending patterns in any given month. Just choose your 3% cash-back category from among several options, including some of the most popular types of everyday purchases. One catch? There’s a limit on how much spending qualifies for these bonus rewards. But as with other Bank of America cards, if you have $20,000 or more in deposits with the bank, you’ll get at least a 25% boost on whatever you earn.

  • PROS & CONS

    Pros

    • Flexibility to pick your top rewards earning category each month
    • Those with a large sum in a qualifying Bank of America or Merrill Lynch account earn a higher rate of rewards

    Cons

    • Can only earn the higher rewards rates on a limited amount each quarter
    • Spending requirement to earn bonus is higher than similar card offers
  • HIGHLIGHTS
    • Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.
    • 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings.
    • 2% cash back at grocery stores and wholesale clubs.
    • 1% cash back on all other purchases.
    • You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%.

Bank of America® Cash Rewards for Students

Best for Students

Our Rating Among Bank of America Cards
4.4
Bank of America® Cash Rewards for Students
Current Offer

$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 13.99% - 23.99% variable
Annual Fee $0
INTRO PURCHASE APR 0% for 15 Billing Cycles
Rewards Earning Rate Earn 3% cash back in the eligible category of your choice, 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases. You’ll earn 3% and 2% cash back on the first $2,500 in combined categories each quarter, then 1%.
Foreign transaction fee (%) 3%
  • WHY WE CHOSE THIS CARD

    Many issuers give students weaker rewards than regular cardholders, but not Bank of America. This card has the same rates and flexibility as the Bank of America Cash Rewards Credit Card. Plus, the card’s welcome bonus—earn a $200 cash reward after you spend $1,000 in your first 90 days—is excellent for a student card. The same goes for the card’s 0% APR promotion on purchases and balance transfers, which lasts more than twice as long as some other student card offers and is even among the better offers available for any cardholder.

  • PROS & CONS

    Pros

    • Generous bonus for a student card
    • Rewards rate is competitive, and there’s no earning limit
    • 0% APR period offers time to establish good repayment habits while saving on interest

    Cons

    • You may need good credit to qualify
    • Rewards aren’t worth much when redeemed for cash back
  • HIGHLIGHTS
    • Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.
    • 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings.
    • 2% cash back at grocery stores and wholesale clubs.
    • 1% cash back on all other purchases.
    • You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%.

Business Advantage Travel Rewards credit card

Best for Businesses

Our Rating Among Bank of America Cards
4.8
Business Advantage Travel Rewards credit card
Current Offer

30,000 bonus points when you spend $3,000 in the first 90 days.

Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 12.24% - 22.24% variable
Annual Fee $0
Rewards Earning Rate Earn unlimited 1.5 points for every $1 you spend on all purchases. Earn 3 points per $1 spent on travel booked through the Bank of America Travel center - powered by Expedia.
INTRO PURCHASE APR 0% for 9 Billing Cycles
Cash Advance APR (%) 24.24%
Cash Advance Fee Either $10 or 4% of the amount of each transaction, whichever is greater
  • WHY WE CHOSE THIS CARD

    The no-fuss rewards and lack of annual fee make this a great option for on-the-go business owners. The flat rewards rate on every purchase makes things easy (and 1.5 points per $1 isn’t half bad), plus redeeming for travel is super simple: Just book with any provider and then request a statement credit later. What’s more, if you do a lot of traveling for your business, you’ll get double the number of points per dollar when you book trips through the Bank of America Travel Center.

  • PROS & CONS

    Pros

    • Decent earning rate for a no-annual-fee, flat-rate rewards card
    • Redeeming rewards for travel is easy—just request a statement credit for the expense

    Cons

    • Bank of America customers can earn even more rewards, but you’ll need a lot of money in a deposit account to qualify
    • Rewards can’t be transferred to other hotel or airline loyalty programs
  • HIGHLIGHTS
    • Earn 30,000 bonus points when you make at least $3,000 in net purchases within 90 days of your account opening which can be redeemed for a $300 statement credit towards travel purchases.
    • Earn unlimited 1.5 points for every $1 you spend on all purchases, everywhere, every time – no matter how much you spend.
    • Earn 3 points per every dollar spent when you book your travel (car, hotel, airline) through the Bank of America Travel Center.
    • Get 75% more points on the base earn of every purchase you make when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you'll earn 2.62 points on all purchases and 4.12 points for every $1 you spend at the Bank of America Travel Center.

Bank of America® Premium Rewards® credit card

Best for Travelers

Our Rating Among Bank of America Cards
4.4
Bank of America® Premium Rewards® credit card
Current Offer

Earn 50,000 bonus points after you make at least $3,000 in purchases in the first 90 days of account opening.

Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 15.99% - 22.99% variable
Annual Fee $95
Rewards Earning Rate Earn unlimited 2 points per $1 spent on travel and dining purchases and 1.5 points per $1 spent on all other purchases.
Foreign transaction fee (%) 0%
  • WHY WE CHOSE THIS CARD

    For frequent travelers, this card edges out the no-annual-fee Bank of America Travel Rewards card in terms of overall value, even though you have to pay a $95 annual fee. That’s because you’ll earn 2 points per dollar spent on travel and dining purchases. You’ll also earn 1.5 points on all other purchases, which is a very good base rate. In addition to the increased rewards, cardholders unlock an annual $100 statement credit for incidental airline fees, and a statement credit for TSA Precheck or Global Entry every four years.

  • PROS & CONS

    Pros

    • Unusually high base rate for a card with tiered rewards
    • Points aren’t worth any less if you redeem for cash back instead of travel
    • Large sums in Bank of America or Merrill Lynch accounts qualify for higher rates of rewards
    • Travel benefits and insurance that are less common nowadays

    Cons

    • You can get a higher rewards rate on all purchases with a flat-rate card
    • No option to transfer points to a frequent flyer or hotel loyalty program
  • HIGHLIGHTS
    • 50,000 online bonus points (a $500 value) after you make at least $3,000 in purchases in the first 90 days of account opening.
    • Earn unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
    • Get up to a $100 Airline Incidental Statement Credit annually for qualifying purchases such as seat upgrades, baggage fees, in-flight services, and airline lounge fees - automatically applied to your card statement.
    • Get up to $100 Airport Security Statement Credit towards TSA Pre✓ or Global Entry Application fee, every four years.
    • No foreign transaction fees.

Bank of America Travel Rewards Credit Card

Best No-Annual-Fee Card for Travelers

Our Rating Among Bank of America Cards
4.5
Bank of America Travel Rewards Credit Card
Current Offer

25,000 bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening - which can be redeemed for a $250 statement credit toward travel purchases.

Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 14.99% - 22.99% variable
Annual Fee $0
Rewards Earning Rate Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere.
INTRO PURCHASE APR 0% for 12 Billing Cycles
Foreign transaction fee (%) 0%
  • WHY WE CHOSE THIS CARD

    The lack of an annual fee makes this card especially good for people just dipping their toe into the world of travel rewards. The rewards rate is competitive for a flexible travel card without an annual fee, and you don’t have to keep track of bonus categories. Plus, as with the Business Advantage card, redeeming is straightforward: Charge any travel to your card and the cash value of your points can be put toward your balance. There’s also a solid bonus of 25,000 points (a value of $250) when you spend at least $1,000 in your first 90 days.

  • PROS & CONS

    Pros

    • Good rewards for a flat-rate travel card that doesn’t charge an annual fee
    • New cardholder bonus beats many competitor offers
    • Points can be redeemed for travel you buy anywhere

    Cons

    • Points can only be used in certain increments, and must be used on the most recent qualifying purchase first
    • Bank customers can earn more rewards, but you’ll need a lot in an investment or deposit account to qualify
    • Short 0% purchase APR offer compared to other similar cards
  • HIGHLIGHTS
    • Earn 25,000 points if you make at least $1,000 in purchases in the first 90 days of your account opening.
    • Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points.
    • Preferred Rewards members earn 25%-75% more points on every purchase That means you could earn up to 2.62 points for every $1 you spend, everywhere, every time.

BankAmericard Secured Credit Card

Best for Building Credit

Our Rating Among Bank of America Cards
3.2
BankAmericard Secured Credit Card
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Poor - Excellent
Regular APR (%) 22.99% variable
Annual Fee $0
Minimum Deposit to Activate $300
Allows upgrade to unsecured card Yes
Pay deposit in installments No
  • WHY WE CHOSE THIS CARD

    This bare-bones secured card is a good option for consumers looking to build credit while establishing a relationship with Bank of America. This card’s strongest features are its lack of an annual fee, the ability to upgrade to an unsecured card with responsible use, and the option to secure a line of credit up to $4,900. Aside from that, you won’t find the option to earn rewards with this card—a feature we like to see in secured cards.

  • PROS & CONS

    Pros

    • No annual fee
    • Free FICO score, updated monthly
    • Automatic review for security deposit return

    Cons

    • Relatively high minimum deposit requirement
    • No rewards
    • High ongoing APR
  • HIGHLIGHTS
    • A secured credit card designed to help establish, strengthen or rebuild credit.
    • A minimum refundable security deposit of $300 (maximum of $4,900) is required to open this account.
    • Now, you can access your FICO Score updated monthly for free, within your Mobile Banking app or in Online Banking. Opt-in to receive your score, the key factors affecting your score, and other information that can help you keep your credit healthy.
    • Access to credit education on topics like using credit cards responsibly, budgeting and more.

What Is Bank of America?

Operating in more than 35 countries, Bank of America offers a wide variety of financial products and services for both consumers and companies, including a well-known suite of credit cards. The bank is the fourth-largest U.S. credit card issuer, with $106.6 billion in outstanding balances—11% of the U.S. market—as of June 2019, according to the Nilson Report.

Bank of America offers more than 25 different credit cards, including cash-back, travel and small business options. In addition to its flagship cards, the bank issues co-branded cards with partners such as Alaska Airlines, Virgin Atlantic, Norwegian Cruise Line, Royal Caribbean, and Major League Baseball.

All cards available to new applicants are issued on either the Visa or Mastercard network, both of which are widely accepted in the U.S. and abroad. For the most part, its cards are designed for people with at least a good credit score. (One exception is the BankAmericard Secured card.)

Here’s another summary of the top Bank of America credit cards, based on our research:

Best Bank of America Credit Cards
Credit Card Category Annual Fee
Bank of America Cash Rewards Credit Card Best Overall $0
Bank of America Cash Rewards for Students Best for Students $0
Business Advantage Travel Rewards Credit Card Best for Businesses $0
Bank of America Premium Rewards Credit Card Best for Travelers $0
Bank of America Travel Rewards Credit Card Best No-Annual-Fee Card for Travelers $95
BankAmericard Secured Credit Card Best for Building Credit $0
Bank of America Cash Rewards Credit Card Best for Cash-Back Rewards $0

How Do Bank of America’s Rewards Work?

Bank of America doesn’t have a central rewards program akin to Chase Ultimate Rewards or Membership Rewards from American Express. Instead, each card offers either cash back or points that you can use for the redemption options specific to the card. (Co-branded cards have their own rewards programs operated by the partner brands.)

Even within the travel category, the rewards programs work differently. With the Travel Rewards credit card, you can use the card to purchase any travel, and then redeem your points for a statement credit against the purchase. In contrast, the Premium Rewards card lets you use points to book travel directly through the bank’s online travel center (or they can be redeemed for cash back).

The bank’s travel cards are among the more versatile “flexible” travel cards (meaning not affiliated with one airline or hotel) but one major drawback is that you can’t transfer your points to any airline or hotel loyalty programs. Chase, American Express and Citibank all offer this option, and in some cases, at a one-for-one transfer ratio. 

What sets Bank of America apart from many card issuers, though, is its Preferred Rewards program. With its flagship credit cards, customers can get between 25% and 75% more rewards on every purchase if they’ve got enough saved with the bank. The deposit requirements are steep, but if you qualify for the higher relationship bonuses, your rewards rates may rival or even beat the top rewards cards on the market.

To qualify for the program, you need to have an eligible Bank of America bank account plus meet the three-month average combined balance requirement for qualifying Bank of America and Merrill Lynch accounts: 

  • $20,000 or more: 25% rewards boost
  • $50,000 or more: 50% rewards boost
  • $100,000 or more: 75% rewards boost

How Good Is Bank of America Customer Service?

Bank of America gets average customer service marks, ranking No. 7 out of 11 national card issuers in J.D. Power’s 2019 credit card satisfaction survey. However, its mobile app was ranked “better than most,” taking third place among major card issuers, behind only Discover and American Express.

The bank offers extended-hour customer service over the phone and has a live chat feature for certain products and services. It also offers free access to your FICO credit score.

Methodology

We collect data on hundreds of cards and score more than 55 features that affect your finances. We do this because it's our mission to give you unbiased, comprehensive credit card reviews.

Our reviews are always impartial. No one can influence which cards we review, the way we present them to you, or the ratings they receive.

About This List

The Balance team created this best card list using the same evaluation process used to score our best overall card rankings, but focused solely on cards issued by Bank of America, excluding co-branded cards. We re-evaluate this list on a monthly basis, or when there are major changes to Bank of America's credit card offerings.

What We Score

We consider low APRs, big sign-up offers, valuable rewards, and minimal fees some of the best card qualities, and our scoring model reflects this. Our full methodology includes further detail about how we evaluate credit card attributes.

Compare Bank of America Credit Cards

Looking to compare credit cards from Bank of America? Here are all of the cards that we considered when compiling our best Bank of America list, as well as others that might be a fit for you. 

Our annual rewards value is an estimate of rewards the average consumer would earn based on annual spending data from the Bureau of Labor Statistics and other sources. The annual fee is deducted from that figure, and any travel or dining reimbursement credits a card may offer are added in. Since the annual fee is deducted, a card may receive a negative annual value.

Compare Bank of America Credit Cards
Card Name Annual Fee Rewards Estimated Annual Rewards Value
Bank of America Cash Rewards Credit Card $0 Earn 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. $395.60
Bank of America Travel Rewards Credit Card $0 Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere. $364.46
Bank of America Premium Rewards Credit Card $95 Earn unlimited 2 points per $1 spent on travel and dining purchases and 1.5 points per $1 spent on all other purchases. $417.69
BankAmericard Credit Card $0 This card does not offer a rewards program. $0.00
BankAmericard Secured Credit Card $0 This card does not offer a rewards program. $0.00
Business Advantage Travel Rewards Credit Card $0 Earn unlimited 1.5 points for every $1 you spend on all purchases. Earn 3 points per $1 spent on travel booked through the Bank of America Travel center - powered by Expedia. $382.27
Business Advantage Cash Rewards Mastercard Credit Card $0 Earn 3% cash back in the category of your choice, 2% cash back on dining (for the first $50,000 in combined choice category/dining purchases each calendar year) and unlimited 1% cash back on all other purchases. $277.56
Platinum Plus Mastercard Business Card $0 This card does not offer a rewards program. $0.00
Alaska Airlines Business Credit Card $50 per company, $25 per card Earn 3 miles for every $1 spend directly on Alaska Airlines purchases and unlimited 1 mile for every $1 spent on all other purchases. -$50.00
Bank of America Travel Rewards for Students $0 Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere. $364.46
Bank of America Cash Rewards for Students $0 Earn 3% cash back in the eligible category of your choice, 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases. You’ll earn 3% and 2% cash back on the first $2,500 in combined categories each quarter, then 1%. $395.60
BankAmericard for Students $0 This card does not offer a rewards program. $0.00
AAA Member Rewards Visa Card $0 3x points per dollar on eligible travel purchases. 2x points on purchases made at grocery stores, gas stations, wholesale clubs and drugstores. 1x point for every dollar you spend on purchases anywhere else. $346.18
Amtrak Guest Rewards World Mastercard $0 Earn 3 Amtrak Guest Rewards points per $1 spent with Amtrak, 2 points on other qualifying travel purchases,1 point spent on all other purchases. $599.54
Allegiant World Mastercard $0 3 points per $1 on eligible Allegiant purchases, 2 points per $1 on qualifying dining purchases, 1 point per $1 on all other purchases. $243.03
Spirit Airlines World Mastercard $0 first year, then $59 Earn Double Miles on your everyday purchases – that's 2 miles for every $1. $300.82
Norwegian Cruise Line World Mastercard $0 3 WorldPoints for every $1 spent on Norwegian purchases. 1 WorldPoints per $1 on all other purchases. $242.97
Royal Caribbean Visa Signature Credit Card $0 2 MyCruise points for every $1 spent on qualifying purchases with Celebrity Cruises and our sister brands, Royal Caribbean and Azamara.1 MyCruise point per $1 on all other purchases. $242.97
Celebrity Cruises Credit Card $0 2 MyCruise points for every $1 spent on qualifying purchases with Celebrity Cruises and our sister brands, Royal Caribbean and Azamara.1 MyCruise point per $1 on all other purchases. $242.97
Air France KLM World Elite Mastercard $89 3 Miles per $1 spent directly on Air France, KLM Royal Dutch Airlines and SkyTeam member airlines purchases and 1.5 Miles per $1 spent on all other purchases. $507.00
Sonesta World Mastercard $75 3 points on eligible Sonesta purchases, 2 points on eligible airfare, car rental and dining purchases, and 1 point for every $1 spent on all other purchases. -$75.00
Virgin Atlantic World Elite Mastercard $90 3 miles per $1 spent directly on Virgin Atlantic purchases. 1.5 miles per $1 spent on all other purchases. $492.90
Alaska Airlines Visa Signature Card $75 Earn 3 miles for every $1 spent on eligible Alaska Airlines purchases. Earn 1 mile for every $1 spent on all other purchases. $127.96
Asiana Visa Signature Card $99 3 Miles for every dollar you spend on Asiana Airlines purchases, 2 Miles for every dollar you spend on gas and at grocery stores, and 1 Mile for every dollar you spend on all other purchases. $645.62

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. Bank of America. "Bank of America Credit Cards." Accessed May 8, 2020.

  2. Bank of America. "Bank of America Preferred Rewards." Accessed May 8, 2020.

  3. J.D. Power. "Credit Card Rewards War Reaches Inflection Point as Competition Grows, J.D. Power Finds." Accessed May 8, 2020.

  4. J.D. Power. "Feature Overload Strains Customer Satisfaction with Online Banking and Mobile Apps, J.D. Power Finds." Accessed May 8, 2020.