BankAmericard Cash Rewards™ Credit Card Review
The cash back rewards are generous, with 3% cash back on gas and 2% cash back at wholesale clubs (including Costco) and grocery stores for up to $2,500 in combined gas, wholesale club and grocery store purchases each quarter, as well as 1% cash back on all other purchases. The wholesale club rewards are particularly appealing, as it is one of the few cards that will earn 2% back at these establishments. Plus, cardholders will earn a $100 online-exclusive bonus after making at least $500 in purchases within the first 90 days of card ownership (you must apply for this card online to receive the bonus).
This card is also great for Bank of America customers, as it offers them an ongoing 10% cash reward bonus when they redeem their cash back rewards directly into their Bank of America® checking or savings account. And if you're a Gold, Platinum or Platinum Honors Bank of America® customer, you'll receive even more of a bonus, ranging from 25% to 75%.
Overall, this is a terrific card for anyone who wants to earn significant cash back rewards, and it comes with the added perk of earning 2% back at Costco and other warehouse club stores (on up to $2,500 in gas, grocery and warehouse club purchases quarterly). Additionally you can take advantage of the 0% intro APR on purchases and balance transfers.
- No annual fee
- $100 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
- Earn 1% cash back on every purchase, 2% at grocery stores and wholesale clubs, and 3% on gas up to the first $2,500 in combined grocery/wholesale club/gas purchases each quarter
- No changing categories and no expiration on rewards
- 0% Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days, then, 13.74% - 23.74% Variable APR. 3% fee (min $10) applies to balance transfers
- Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account
- If you're a Preferred Rewards client, you can increase that bonus to 25% - 75%
- Earn 3% cash back on gas and 2% cash back at wholesale clubs and grocery stores for the first $2,500 in combined gas, grocery store and wholesale club purchases each quarter.
- Earn 1% cash back on all other purchases everywhere, every time.
- Online-exclusive $100 cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening.
- Bank of America customers will earn a 10% cash reward bonus when they redeem their rewards directly into their Bank of America® checking or savings account.
- Redeem as a statement credit, a check, or an electronic deposit to a Bank of America checking or savings account.
Fees and APR
- Annual Fee: $0.00.
- Purchase APR:0% Introductory APR on purchases for 12 billing cycles, then 13.74% - 23.74% Variable APR on purchases, depending on credit history.
- Balance Transfer APR: 0% Intro APR for 12 billing cycles for balance transfers made in the first 60 days, then 13.74% - 23.74% Variable APR on balance transfers, depending on credit history.
- Balance Transfer Fee: 3% of the amount of each transaction or $10, whichever is greater.
- Foreign Transaction Fee: 3% of the transaction amount.
- Penalty APR: up to 29.99% APR.
- Terms and Conditions
|Features:||Earn 3% cash back on gas, 2% back at wholesale clubs & grocery stores up to $2,500 gas/wholesale club/grocery store quarterly spend, 1% back on other purchases, $100 online bonus after spending at least $500 on purchases in first 90 days.|
|Purchase APR:||0% Introductory APR on purchases for 12 billing cycles, then 13.74% - 23.74% Variable APR on purchases|
|Balance Transfer APR:||0% Intro APR for 12 billing cycles for balance transfers made in the first 60 days, then 13.74% - 23.74% Variable APR on balance transfers|
NextAdvisor Credit Cards Blog Headlines
- Barclaycard vs. Wells Fargo: The Battle of the Unlimited Cash Back Credit Cards
Picking a credit card is a big decision, as you want to make sure you select a card that fits your […]
- Mastercard Unveils Cards with Built-in Fingerprint Scanners: Are They More Secure?
Last week, Mastercard unveiled a new EMV card with an added feature – a fingerprint scanner which will be used […]
- 4 Personal Finance Lessons to Teach Your Children
Having a solid grasp of money and credit is necessary for any responsible and financially-literate person. Unfortunately, though, it’s one […]
- The Wells Fargo Propel American Express Card Adds an Impressive 20,000 Bonus Points
Want to earn rewards on everyday purchases and get a hefty intro bonus? The Wells Fargo Propel American Express Card […]
Related Forum Posts
- What is the minimum for cash back redemption with the BankAmericard Cash Rewards Card?
According to the BankAmericard Cash Rewards Credit Card terms and conditions, "When your cash rewards balance is $25 or more, you can redeem your[...]
- What kind of credit does BankAmericard Cash Rewards Credit Card require?
Good news! You may qualify for the BankAmericard Cash Rewards Credit Card with just good credit, which is typically considered to be a credit score[...]
- How can I know whether my BankAmericard Cash Rewards application was approved?
If you aren't sure whether your application for BankAmericard Cash Rewards was approved or not, you can contact customer service by phone at[...]
- Does BankAmericard Cash Rewards earn 3% cash back at all gas stations?
You are correct, Lynne. According to the terms and conditions, BankAmericard Cash Rewards cardholders earn 3% cash back on gas purchases which[...]
- Do I have to use my BankAmericard Cash Rewards redeemed rewards statement credit for travel?
When you redeem your BankAmericard Cash Rewards points for a statement credit, it will be applied to your credit card statement in general. You can[...]