Bank of America Unlimited Cash Rewards – How to Apply
When it comes to everyday spending, everyone loves the idea of getting a little something back.
The Bank of America Unlimited Cash Rewards Credit Card delivers on that promise without adding extra complexity.
Whether you’re buying coffee, booking travel, or managing monthly expenses, this card ensures that every purchase earns you unlimited 1.5% cash back.
The most appealing aspect of this card is its simplicity. There are no rotating categories to track, no enrollment requirements, and no limits to how much you can earn. Every time you swipe or tap your card, you’re putting money back in your pocket.
It’s especially valuable for existing Bank of America clients. When you join the Preferred Rewards program, your rewards rate increases significantly. For example, if you’re at the Platinum Honors tier, you could be earning up to 2.62% cash back on every purchase—an impressive return for a no-annual-fee card.
Bank of America Unlimited Cash Rewards
No annual fee Foreign transaction fee appliesHow Does the Bank of America Unlimited Cash Rewards Credit Card Work?
The Bank of America Unlimited Cash Rewards offers a flat-rate 1.5% cash back on every purchase you make, regardless of where or what you’re buying. This structure is ideal for users who don’t want to deal with bonus categories or limited-time offers. It’s consistent, predictable, and rewarding.
Your cash back accumulates automatically and can be redeemed in several ways. You can request a statement credit to lower your balance, transfer it into a Bank of America checking or savings account, or even apply it to a Merrill investment account for long-term growth.
There’s also an introductory 0% APR for 15 billing cycles on new purchases and balance transfers made within the first 60 days. That can make a big difference if you’re planning a large purchase or trying to manage existing debt.
Main Benefits for the Bank of America Unlimited Cash Rewards Credit Card
Perhaps the most powerful benefit is the flat-rate cash back. Many cards make you jump through hoops to earn rewards—this one just pays you for using it. You earn the same amount whether you’re buying lunch, filling up at the gas station, or shopping online.
The 0% intro APR on purchases and balance transfers gives you financial flexibility, especially if you’re planning a big buy or need a short break from interest accumulation.
Additionally, being able to increase your cash back through Preferred Rewards means this card grows with your financial profile. The more you invest and save with Bank of America and Merrill, the more rewards you’ll earn on everyday spending.
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Cons for the Bank of America Unlimited Cash Rewards Credit Card
Despite its strengths, the Bank of America Unlimited Cash Rewards isn’t perfect. One downside is that it charges a foreign transaction fee, typically around 3%, which makes it less ideal for frequent international travelers.
It also doesn’t include some of the perks you might find in premium cards—there’s no travel insurance, extended warranty, or concierge service. If those extras matter to you, you may want to consider a higher-tier option.
Finally, it doesn’t offer any higher cash back categories like dining or groceries, which some competitors do. If you spend heavily in specific areas, other cards may yield better returns.
APR and Fees
There’s no annual fee, which is a major plus. You can carry this card without worrying about earning enough cash back to “cover the cost” of having it.
The introductory APR is 0% for the first 15 billing cycles on purchases and balance transfers made in the first 60 days. After that, the variable APR typically ranges between 18.24% and 28.24%, depending on your creditworthiness.
A balance transfer fee of 3% applies, and there’s also a foreign transaction fee, making this card better suited for domestic use.
However, all fees are clearly outlined, and there are no hidden charges. Responsible users can easily avoid penalty fees and maximize the value of the card.
How to Apply for the Bank of America Unlimited Cash Rewards Credit Card
Applying is simple and takes just a few minutes:
Activate it and start earning unlimited 1.5% cash back on every purchase.
Visit the Bank of America official website and locate the Bank of America Unlimited Cash Rewards Credit Card page.
Click on “Apply Now” and fill in your personal, employment, and financial details.
Submit your application and wait for an instant or same-day response.
If approved, your card will arrive within 7–10 business days.
