Bank of America is one of the largest financial institutions in the world, and they offer a full array of credit cards. Shopping for a credit card can be overwhelming, with all the different rates, fees and rewards that are offered. Here are three of the top Bank of America credit cards on the market today. All three cards require the applicant to have an excellent credit score.
The BankAmericard® Credit Card is one of the better low interest credit cards on the market today. Consumers can get an interest rate ranging from 15.24% - 25.24% Variable, depending on your credit worthiness. The card offers new cardholders 18 billing cycles of 0% APR promotional financing on purchases as well as balance transfers that are completed within 60 days of opening your account. But there will be a 3% balance transfer fee. When the promotional rate expires, the remaining unpaid balance will be subject to the standard APR of 15.24% - 25.24% Variable. The card has no annual fee. The card does not have a rewards program, and there is a 3% foreign transaction fee on all charges processed outside of the United States. The card does not have a penalty APR, so paying late won’t automatically raise your interest rate. Cardholders can access their FICO® Score for free within Online Banking or Mobile Banking app.
The Bank of America® Cash Rewards Credit Card is an outstanding cash back card. It offers 1% cash back on all purchases, but 2% on transactions made at grocery stores and at wholesale clubs, and 3% on a category of your choice: gas, online shopping, dining, travel, home improvement/furnishings or drug stores. These increased payouts are applicable on up to $2,500 in combined choice category/grocery store/wholesale club purchases each quarter. Cardholders can update their choice category for future purchases once each calendar month using the Mobile banking app or Online banking, or do nothing and the category stays the same. If you’re a Bank of America Preferred Rewards client, you can receive a 25% – 75% rewards bonus on every purchase. New customers can earn a $150 sign-up bonus after spending $500 in the first 90 days of being a cardholder. In addition, new applicants will get 12 billing cycles of 0% APR on both new purchases and balance transfers. The balance transfers must be completed within 60 days of account opening, and a 3% balance transfer fee applies. The card has an APR ranging from 16.24% - 26.24% Variable, depending on your credit worthiness. The card has no annual fee but there is a 3% foreign transaction fee on transactions made outside of the United States.
Bank of America also offers a very competitive card for the the traveler: the Bank of America® Travel Rewards Credit Card. The card offers 1.5 points per dollar spent on all purchases with no limit, and the rewards never expire. Each point is worth one cent as a statement credit towards travel purchases, including hotels, flights, vacation packages, rental cards, cruises and baggage fees. Cardholders receive an additional 10% customer points bonus on every purchase when you have an active Bank of America® checking or savings account. If you’re a Preferred Rewards client, you can increase that bonus to 25% – 75%. New cardholders can earn 25,000 online bonus points if they spend $1,000 on their card within the first 90 days of opening the account. That is worth $250 in travel statement credits. New customers will get 12 billing cycles of 0% APR on new purchases. After the introductory rate expires, the standard APR of 17.24% - 25.24% Variable will apply, depending on your credit worthiness. The card has no annual fee, and something very important to travelers: no foreign transaction fees will be placed on transactions made outside of the United States.
All three of these cards have some other significant benefits. These cards all come with chip technology, which provides added security at chip-enabled merchant terminals and allows you to use the card anywhere in the world. Cardholders receive access to account alerts and online banking, as well as a paperless statement option and a $0 Liability Guarantee, so you’re not responsible for any fraudulent charges made on your account. Optional overdraft protection is also available to help prevent declined purchases, returned checks or other overdrafts when you link your eligible Bank of America checking account to your credit card, although transfer fees may apply.