Bank of America offers a couple of credit cards to help you get something back each time you use your credit card. The BankAmericard Cash Rewards card gives you cash back when you use the credit card for common purchases, such as gas and groceries. BankAmericard Travel Rewards card lets you earn miles for every dollar you spend on all purchases. Both of these cards are available with no annual fee.
BankAmericard Cash Rewards works the way most cash rewards cards do. You get 3 percent cash back on gas, 2 percent cash back on grocery and wholesale club purchases, but both of these bonus categories have a cap. You can earn 1 percent cash back on all other purchases, and there's no limit to your earning potential.
The BankAmericard Travel Rewards Card is a credit card with rewards that operate on a points system. For every dollar you spend, you earn 1.5 points, and the number of points you can earn isn't limited. Nor do points expire. They can be redeemed for travel or other items like cash and merchandise.
These rewards cards' introductory APR is 0 percent for a limited time. After the introductory period ends, your APR switches to a variable rate based on the national prime rate and your credit score.
Although there is no annual fee, other fees apply. Cash advances, balance transfers and late fees exist. Check the terms for these fees. In addition, you'll want to check the terms and conditions often because they can change at any time, affecting your fees, earning potential or rewards.
Bank of America offers a $0 Liability Guarantee against fraudulent charges. In addition, you can get text alerts, online account access and more benefits, especially if you have a Bank of America checking or savings account.
Bank of America can be contacted via phone, email or live chat. Additionally, there are a number of frequently asked questions online to answer questions or issues you may have with your card.
The BankAmericard Travel Rewards and Cash Rewards card are good options for Bank of America members and others looking for a rewards credit card that can earn them free travel or cash back. Additionally, you will have relatively standard APRs and fees as well as the option for a sign-up bonus.