The Bank of America Unlimited Cash Rewards card delivers simple, reliable value to everyday purchases. With a flat 1.5% cash back rate on everything you buy, this card is perfect for people who want to earn without memorizing bonus categories or rotating calendars.
It also becomes even more powerful for Bank of America customers who qualify for Preferred Rewards, unlocking up to 75% more on every dollar spent. If you’re looking for a no-hassle way to earn on every purchase, this card checks every box.
Bank of America Unlimited Cash Rewards Benefits
- Flat 1.5% Cash Back on All Spending: Every purchase earns 1.5% cash back automatically—no limits, no restrictions. Whether you’re buying groceries, shopping online, or covering bills, you earn the same steady reward. This card is a great fit for anyone who values simplicity and wants to skip the complicated bonus categories other cards require.
- Up to 2.62% Back with Preferred Rewards: Bank of America customers who join the Preferred Rewards program can receive 25% to 75% more on their cash back earnings. That raises the effective rate from 1.5% up to 2.62%, depending on your tier. This boost is automatically applied if you’re enrolled, making it one of the most rewarding flat-rate cards for existing BOA or Merrill clients.
- $200 Online Cash Bonus: New cardholders earn a $200 cash rewards bonus after spending $1,000 within the first 90 days of account opening. This welcome offer gives your rewards a strong start and adds even more value early on.
- Introductory APR Offer: Get a 0% introductory APR for 15 billing cycles on both purchases and balance transfers made within the first 60 days. After that, a variable APR applies (currently between 18.24% and 28.24%, depending on creditworthiness), giving you time to pay down large expenses or consolidate debt interest-free.
- No Annual Fee: This card doesn’t charge an annual fee, so you won’t need to offset costs to make the rewards worthwhile. That means every cent of cash back you earn goes directly toward your savings or spending goals.
- Cash Rewards That Never Expire: Your rewards won’t disappear over time. As long as your account stays open and in good standing, your cash back is available whenever you want to redeem it. This gives you the freedom to save up for something big or redeem as you go.
- Flexible Redemption Options: You can redeem your rewards as a statement credit, direct deposit into a Bank of America account, transfer to a Merrill investment account, or use it toward purchases via Amazon or PayPal checkout. With no minimum redemption amount, it’s easy to access your cash rewards when you need them most.
- Visa Signature Benefits: The card includes Visa Signature perks like purchase protection, extended warranty coverage, and access to 24/7 concierge service. These added features provide security and convenience when shopping or traveling.
- Advanced Digital Tools: Manage your card on the go with the Bank of America mobile app. You can track purchases, redeem rewards, pay your bill, and monitor fraud alerts—all from your phone. This mobile access makes managing your finances easier, whether you’re at home or traveling.
Qualification Requirements
- U.S. Residency Required: Applicants must be U.S. citizens or permanent residents and at least 18 years old.
- Strong Credit Profile: A good to excellent credit score (typically 670 and above) is recommended for approval.
- No Bank Account Required: You don’t need to have a Bank of America checking or savings account to apply or earn rewards.
- Income Disclosure: You’ll be asked to provide annual income or housing expense details during the application process.
- No Recent Bankruptcies or Defaults: Clean credit history improves approval odds, especially for the welcome bonus and intro APR.
- Preferred Rewards Eligibility: To qualify for bonus earnings through Preferred Rewards, you must maintain a minimum combined balance across eligible Bank of America or Merrill accounts.
How to Apply for The Unlimited Cash Rewards Card
- Prepare Your Information: You’ll need your Social Security number, address, date of birth, and estimated income.
- Visit the Official Website: Head to the Bank of America website and locate the Unlimited Cash Rewards card page.
- Start the Online Application: Complete the form with accurate financial and personal information.
- Review the Terms: Carefully read the interest rates, fees, and cash back details before submitting.
- Submit and Await Approval: Most applicants receive a decision within minutes of applying online.
- Activate and Use Your Card: Once approved, activate your card and start earning 1.5% cash back right away.
Frequently Asked Questions
Is there an annual fee?
No, the Bank of America Unlimited Cash Rewards card has no annual fee.
How do I qualify for the 2.62% cash back?
You’ll need to be enrolled in Preferred Rewards and meet the balance requirement to earn the full bonus rate.
Do my rewards expire?
No—your cash back does not expire as long as your account remains open and in good standing.
Can I redeem cash back whenever I want?
Yes, you can redeem your rewards at any time with no minimum amount required.
