The BankAmericard Cash Rewards™ credit card comes with a $100 sign up bonus, while offering some of the highest cash back on gas and groceries. That’s the money you would be spending anyway, so stop leaving it on the table!
- $100 online cash rewards bonus after spending $500 in the first 90 days.
- 3% cash back on gas and 2% on groceries good for up to first $1,500 in combined grocery/gas purchases each quarter, plus 1% unlimited cash back on other purchases.
- 10% bonus for existing Bank of America® customers after they redeem cash into their checking or savings account.
- 12 billing cycles of 0% intro APR on purchases, 2 months on balance transfers.
- No annual fee.
How It Works
Cash Back: The BankAmericard Cash Rewards™ card gets you 3% cash rewards for gas and 2% cash rewards at grocery stores, up to the first $1,500 in combined grocery/gas purchases each quarter. In addition, you get 1% cash rewards for all other purchases, including for grocery and gas purchases made after the first $1,500 per quarter. These cash rewards do not expire.
Sign Up Bonus: If you make at least $500 in purchases within the first 90 days (and it’s not really that hard), you get$100 online cash rewards bonus.
APR: 0% introductory APR for purchases for 12 billing cycles and 2 months for balance transfers, followed by variable APR of 13.24%-23.24% based on your credit worthiness.
Special deal for existing Bank of America customers: Those already having an account at Bank of America get 10% customer bonus when they redeem cash rewards into a Bank of America® checking or savings account. For instance if you spend $2,000 on groceries, you will earn 2% cash rewards of $40. If you redeem that money in a Bank of America checking or savings account, you receive 10% more, for a total of $44. Plus, if you’re a Preferred Rewards client, you can increase that bonus to 25%-75%.
Free Museum Admission: Every first full weekend of the month, your Bank of America credit or debit card gets you free admission to more than 150 museums across the country.
Costs
- $0 Annual Fee
- 0% Intro APR on purchases for the first 12 billing cycles, then 13.24%-23.24% variable APR
- 3% Balance Transfer Fee (minimum $10)
- 3% Foreign Transaction Fee
At Bank of America’s secure website
Pros
- Sign-up bonus worth $100 is generous, considering there is no annual fee involved.
- 12 billing cycle introductory APR on purchases. 2 months for balance transfers.
- 10% bonus cash rewards for existing Bank of America clients seems like a nice way to say “thank you” to those sticking to the bank. Even better deal is available for Bank of America Preferred Rewards clients.
- Unlike some other rewards credit cards, this one doesn’t include rotating categories that can be a pain to manage and benefit from.
Cons
- Caps on grocery and gasoline purchases. If you spend more than $1,500 per quarter in these categories, anything over is awarded only 1%. Depending on your spending, you may be better of getting a card that gives you more cash back on groceries and/or gasoline.
- Foreign transaction fees – this isn’t the card made to be carried abroad. There are other cards that are better suited for use while traveling.
Is This The Card For You?
We highly recommend this card for regular gas and grocery purchases. You get the $100 sign up bonus, 12 billing cycles of 0% intro APR, and no annual fee. Plus, if you’re an existing Bank of America customer, you also get a 10% bonus. It is a no brainer choice for families.
Click here to learn more and apply for the BankAmericard Cash Rewards™ credit card today!
At Bank of America’s secure website
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