Bank of America Unlimited Cash Rewards Credit Card – How to Apply

By Raquel Oliveira • 03/05/2025

Bank of America Unlimited Cash Rewards Credit Card offers no annual fee and Unlimited 1.5% cashback.

For those who prefer a straightforward and hassle-free cashback credit card, the Bank of America Unlimited Cash Rewards Credit Card is an excellent choice.

Many cashback cards require careful spending management, limiting high rewards to select categories. However, this card ensures unlimited earning potential, making it ideal for users who want consistent cashback rewards on all their purchases without restrictions.

Another major advantage is the 0% introductory APR on purchases and balance transfers for the first 15 billing cycles. This makes it a valuable option for individuals looking to finance large purchases or consolidate existing credit card debt without interest.

For Bank of America Preferred Rewards members, this card becomes even more rewarding. Depending on membership tier, cardholders can boost their cashback earnings by 25% to 75%, increasing the 1.5% cashback rate to up to 2.62% per dollar spent.

How Does the Bank of America Unlimited Cash Rewards Credit Card Work?

This credit card operates on a simple flat-rate rewards system, offering 1.5% unlimited cashback on every purchase. Unlike many cashback credit cards, this one does not have rotating categories, spending caps, or expiration dates on rewards.

Cardholders can redeem their cashback in multiple ways, giving them the flexibility to use rewards according to their financial needs. Redemption options include:

• Direct deposits into a Bank of America checking or savings account
• Statement credits to reduce outstanding balances
• Cashback applied toward new credit card purchases

One of the biggest highlights of this card is its 0% introductory APR on purchases and balance transfers for 15 billing cycles. This allows new cardholders to spread out payments on large expenses or consolidate debt without worrying about high interest rates.

After the introductory period, a standard variable APR applies, so it’s important to pay off balances before interest accrues. This feature makes it a valuable financial tool for those looking to manage their expenses efficiently.

Main Benefits of the Bank of America Unlimited Cash Rewards Credit Card

• The Bank of America Unlimited Cash Rewards Credit Card offers several key benefits that make it a top choice for cashback seekers who prefer simplicity and flexibility in their rewards program.
• Boosted cashback for Preferred Rewards members: Depending on their tier, Bank of America Preferred Rewards members can increase their cashback earnings by 25% to 75%, potentially raising their rate to 2.62% per dollar spent.
• Unlimited 1.5% cashback on all purchases: No spending caps, no rotating categories, and no need to track where you’re earning the most cashback. Every purchase earns a consistent reward.
• 0% introductory APR on purchases and balance transfers: For the first 15 billing cycles, new cardholders can finance large purchases or consolidate existing debt without interest, helping them save money.
• No annual fee: Unlike some cashback credit cards, this card has no annual fee, ensuring that all rewards earned go directly to the user instead of covering card maintenance costs.

Cons of the Bank of America Unlimited Cash Rewards Credit Card

Despite its strong benefits, the Bank of America Unlimited Cash Rewards Credit Card does have some limitations that potential applicants should consider before applying.

• No higher cashback categories: While the flat 1.5% cashback rate is simple, some cashback credit cards offer higher rates on specific spending categories like groceries, gas, dining, or travel.
• Not ideal for category-based spenders: If you spend heavily in a particular area, a card with bonus categories may provide higher cashback earnings compared to the flat 1.5% this card offers.
• Foreign transaction fees apply: This card charges fees on international purchases, making it less suitable for travelers who frequently spend money abroad. A no-foreign-transaction-fee card may be a better option for global spending.
• Regular APR after intro period: While the 0% APR promotion is valuable, the regular variable APR after 15 billing cycles can be relatively high. Carrying a balance after this period could result in costly interest charges.

For cardholders who prioritize simplicity over maximizing rewards in select categories, this card remains a solid cashback option despite these drawbacks.

APR and Fees

The Bank of America Unlimited Cash Rewards Credit Card offers a 0% introductory APR on purchases and balance transfers for 15 billing cycles, making it an excellent option for those looking to finance large expenses without immediate interest charges.

However, it’s essential to note that a balance transfer fee applies when transferring debt from another credit card. This means users should calculate potential savings before moving balances.

Additional fees and details include:

• No annual fee: A significant advantage for long-term cardholders, ensuring all rewards earned go directly to the user.
• Foreign transaction fees apply: For those who frequently make purchases abroad, these extra charges could add up quickly.
• Variable APR after the intro period: Once the 0% APR promotion expires, the standard APR applies, meaning carrying a balance could become costly over time.

By paying off balances before the promotional period ends, users can maximize the benefits of this introductory offer while avoiding high-interest charges later.

How to Apply

Applying for the Bank of America Unlimited Cash Rewards Credit Card is a quick and straightforward process that can be completed online in just a few minutes.

To apply, visit the Bank of America website, navigate to the credit card application page, and fill out the form with personal and financial details. Be sure to enter accurate information to avoid delays in approval.

Applicants with good to excellent credit (typically 670 or higher) have the best chances of approval. Existing Bank of America customers may have an easier approval process, especially if they qualify for the Preferred Rewards program.

Once approved, the card is mailed within 7–10 business days, allowing users to start earning cashback immediately. Online account management tools make it easy to track spending, redeem rewards, and manage payments efficiently.

Is the Bank of America Unlimited Cash Rewards Credit Card Right for You?

The Bank of America Unlimited Cash Rewards Credit Card is ideal for individuals who prefer a simple, no-maintenance approach to earning cashback.

With unlimited 1.5% cashback on all purchases, it offers consistent rewards without requiring users to track spending categories. This card is best suited for:

• People who want an easy-to-use cashback credit card
• Everyday spenders looking for a reliable flat-rate rewards system
• Bank of America customers who can boost their cashback through Preferred Rewards
• Cardholders who need a 0% intro APR for purchases or balance transfers

However, those who frequently travel internationally or spend heavily in specific categories like dining or groceries may find better rewards with specialized cashback credit cards.

For users who value simplicity, no annual fee, and consistent cashback earnings, the Bank of America Unlimited Cash Rewards Credit Card is an excellent addition to any wallet.