The Bank of America Unlimited Cash Rewards® Card offers a flat-rate cash-back structure and a straightforward rewards program.
In this review, we examine its 1.5 % cash-back rate, features, interest rates, fees, and how it compares with other cards.
Card Overview
The Unlimited Cash Rewards® Card is a cash-back credit card issued by Bank of America. It stands out for its simplicity and flexibility.
Rewards and Redemption Features
The card’s flat 1.5% rate ensures you earn the same amount of cash back on all purchases—no categories to activate or spending caps to track.
During the first year, eligible applicants may earn 2% cash back on all purchases as part of the introductory offer.
If you qualify for the Preferred Rewards program, your cash back increases by:
- 25% bonus for Gold tier members
- 50% bonus for Platinum tier members
- 75% bonus for Platinum Honors members
That means your effective rate can reach 2.62% cash back with the highest tier, making it one of the most rewarding flat-rate cards available.
Redeeming Rewards
Your rewards are easy to use and never expire as long as the account remains open.
Statement credits are applied directly to your credit-card balance. Deposits into a Bank of America checking or savings account
Transfers to an eligible Merrill investment account. Pay with Rewards options at Amazon or PayPal checkout (where available).
Welcome Bonus
The current welcome offer provides a $200 online cash rewards bonus after spending $1,000 in the first 90 days of account opening.
This introductory bonus effectively boosts the value of the card in the first few months.
Interest Rates & Fees
$0 annual fee — you pay nothing to keep the card active year-round.
Variable APR: 17.74% – 27.74%, 0% for the first 15 billing cycles on purchases and balance transfers made within 60 days of account opening.
Balance transfer fee: 3% for the first 60 days, then 4% after that.
No foreign transaction fees. This feature makes the card practical for international travelers and online purchases in foreign currencies.
Additional Features & Benefits
The Bank of America Unlimited Cash Rewards Card also offers standard Visa Signature or Mastercard World benefits, depending on the network version you receive.
- Extended Warranty Protection – adds up to one additional year to eligible manufacturers’ warranties of three years or less.
- Travel and Emergency Assistance – access to emergency services, including legal and medical referrals, when traveling.
- Zero Liability Protection – you’re not held responsible for unauthorized purchases.
- Contactless Payments – tap-to-pay convenience with chip and mobile-wallet compatibility.
These built-in benefits add more value to everyday use without extra fees.
Who Might Benefit & Who Might Not
Consider each aspect of Bank of America Unlimited Cash Rewards.
Best For
Consumers who want a simple, no-annual-fee cash-back card.
Shoppers who prefer a flat rate instead of tracking rotating categories.
Bank of America or Merrill account holders who can boost rewards through the Preferred Rewards program.
Not Ideal For
Users looking for higher base cash-back rates (some cards offer 2% flat without balance requirements).
Cardholders who often carry a balance and will pay interest rates near the higher end of the APR range.
Applicants who don’t meet Bank of America’s creditworthiness standards, as approval generally requires good to excellent credit.
How to Apply
Go to Bank of America’s credit cards section and select the “Unlimited Cash Rewards” card.
Click the “Apply Now” button on the card’s product page. Complete the online application form.
Typical information you’ll be asked for includes:
- Your legal name, address, date of birth, and Social Security number (if you’re a U.S. resident).
- Your employment status, income (annual or monthly), and other financial information (rent/mortgage, other debts)
- Your consent for a credit check and for the bank to use your information to determine your creditworthiness.
The bank will process your application, perform a credit check, and respond with approval, denial, or a request for more information.
If approved, you’ll receive your card via mail (or instant digital card in some cases) and can activate it once you receive it.
Comparison with Similar Cards
See:
| Feature | Bank of America Unlimited Cash Rewards® Card | Citi Double Cash® Card | Wells Fargo Active Cash® Card |
|---|---|---|---|
| Base cash-back rate | 1.5% on all purchases after first year (and 2% during first-year offer) ● Boostable via issuer loyalty programme (e.g., up to ~2.62% with top tier) | 2% on all purchases (1% when you buy + 1% when you pay) ● No category tracking required | Unlimited 2% on all purchases ● Flat-rate, no category tracking |
| Welcome / sign-up bonus | ~$200 cash bonus after ($1,000 spend in first 90 days) on many offers | Typically $200 cash back after spending (varies) | ~$200 cash bonus after ~$500 in first 3 months |
| Minimum effort / categories | Flat rate (after first year) + loyalty tier boost (if you maintain certain balances) — simple for most spenders. | Flat rate, no categories or activations required. | Flat rate, no bonus categories or tracking required. |
| Special boost / tier benefit | If you’re part of bank’s loyalty programme (e.g., deposit/investment balances with issuer) you can get a bonus to your cash-back rate. | No special loyalty-balance boost (beyond standard terms) | No loyalty-balance dependency for the base rate. |
| APR / rate range | Variable APR ~17.74%-27.74% (depending on creditworthiness) for purchases. | APR depends on creditworthiness; purchase variable APR applies. | Variable APR quoted as ~18.74%, 24.74% or 28.74% after intro period. |
| Other notable benefits / drawbacks | Strength for existing bank/investment customers; simplicity for all-purchase flat rate; but base cash-back lower than some competitors unless you qualify for boost. | Highest base flat-rate among these three; good for “one-card-for-everything” if you always pay in full. | Highest flat rate in base form among the three; strong for everyday spending; no loyalty-balance requirement; slight drawback: foreign transaction fee may apply in some cases. |
Address, Contact Details & Issuer Information
Issuer: Bank of America, N.A., a subsidiary of Bank of America Corporation
Corporate Address: Bank of America Corporate Center, 100 North Tryon Street, Charlotte, North Carolina 28255
Customer Service Phone (Credit Cards): 1-800-434-8313
Website: bankofamerica.com
Conclusion
The Bank of America Unlimited Cash Rewards® Card is an excellent choice for anyone seeking consistent rewards.
If you regularly pay off your balance and already bank with Bank of America, this card can provide long-term value and flexibility.
However, if you tend to carry balances or prefer higher instant cash-back rates without banking requirements, consider alternatives.
Disclaimer: This article is for informational purposes only and does not constitute financial advice or a product endorsement. Credit-card terms, APRs, and promotional offers are subject to change without notice and may vary by applicant. Always review the most current information directly from Bank of America before applying or making financial decisions.
