While some cards have one-time welcome bonus offers, the Bank of America® Unlimited Cash Rewards credit card is offering cardholders extra rewards every time they swipe the card for an entire year. Make the most of all your holiday spending—and long after—with 2% cash back on purchases for the first year (then 1.5% cash back) and a generous introductory APR offer for those that need more time paying down big buys.
Bank of America® Unlimited Cash Rewards Cash-Back Offer
Newly approved cardholders can get 2% cash back on purchases for the first year of account opening, unlimited 1.5% on all purchases thereafter. Even after the first-year bonus earnings expire, the card is worth keeping since it has no annual fee and will still earn elevated 1.5% cash back.
While several cards impose quarterly or annual spending caps on their bonus categories, the Bank of America® Unlimited Cash Rewards has no such limitation. The Unlimited Cash Rewards from Bank of America also doesn’t require bonus category activation or tracking, so you can feel confident that every purchase is earning the same high-value rewards.
Bank of America® Unlimited Cash Rewards credit card Benefits
The card doesn’t skimp on the welcome bonus either. New cardholders can get a $200 online cash rewards bonus after spending $1,000 in purchases in the first 90 days of account opening. This time of year can be an especially good time to get a new card with travel, holiday parties and shopping expenses adding up. This attainable welcome bonus averages out to spending about $335 per month for the first 90 days to get $200 cash back. Or maybe you can meet the spending threshold with a couple of large purchases. Either way, it’s money back in your pocket.
Bank of America® Unlimited Cash Rewards Intro APR
The card perks don’t stop with multiple ways to earn cash back. If you need more time to pay down a big holiday purchase or transfer a balance, the Bank of America Unlimited Cash Rewards offers a generous 0% introductory APR for 15 billing cycles on purchases and for any balance transfers made in the first 60 days of account opening, followed by a 17.74% to 27.74% variable APR. A 3% fee applies to balance transfers made in the first 60 days, then 4%. It’s easy to miss, but cardholders even get an intro offer on the balance transfer fee. Balance transfers completed within the first 60 days of account opening save 1% on balance transfer fees. That may not sound like much but for a balance transfer of $5,000, that means paying $150 in transfer fees, versus the $200 you’d pay in fees after the balance transfer fee intro period ends.
How To Maintain Bonus Earnings After the First Year
Bank of America Preferred Rewards members should especially consider this card. Depending on their membership tier, they can earn 25% to 75% more on top of the base 1.5% rewards for up to 2.625% back. That rate can continue long after the first-year bonus earnings end, and there’s no cap on how much you can earn.
Redeeming Bank of America Unlimited Cash Rewards Card Rewards
With market volatility and travel uncertainty, one redemption strategy remains the same: Cash back reigns supreme. The Bank of America® Unlimited Cash Rewards credit card offers cash-back redemptions in the form of statement credits or deposits into a Bank of America checking or savings account.
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Bottom Line
If earning and redeeming rewards with simplicity is your priority, the Bank of America® Unlimited Cash Rewards credit card may be a perfect match. You don’t have to worry about activating bonus categories or paying annual fees, and you can’t go wrong with redeeming rewards for simple cash back. A welcome offer and intro APR give the card even more appeal.