Best Bank of America Credit Cards

Whether you’re searching for ways to pay down debt faster, claim lucrative travel rewards, or earn cash back, Bank of America has the solution, with a suite of high-quality credit cards that customers consistently rate favorably.

If you’ve spent time in the United States, you’ve heard of Bank of America. They may be the second biggest bank in the country, but Bank of America has never been high on the list of banks when it comes to rewards credit cards. However, between partnerships with major travel brands and the recent release of a premium rewards credit card, it’s clear that Bank of America is stepping it up. Simple and effective, these Bank of America credit cards offer a great boost for your wallet.

In order to make our “best of” lists, credit cards need to offer valuable perks and rewards, or they need to come with benefits that can help you out financially. We also like our credit card favorites to be low cost, but we understand that premium rewards are sometimes worth high fees. Here are some of the main factors we considered while comparing different Bank of America credit cards.

• We love a great sign-up bonus, and we look for bonuses that are easy to achieve and redeem.
  
• More importantly, we look at the ongoing rewards rate, because you want your card to be valuable in the long run.
  
• Premium perks like annual bonuses and lounge access are also considered.
  
• Annual fees and the ongoing APR are weighed against the benefits of the credit card to make sure you’re always making money, not losing it.
  
• The best introductory offers on credit cards have long promotional periods, a low APR, and minimal fees.

Bank of America offers all of the typical credit card types: travel rewards credit cards, cash back credit cards, and non-rewards credit cards. Travel rewards credit cards can be broken down into generic rewards and co-branded rewards. See the descriptions below to understand the difference.

Travel rewards credit cards

The best travel rewards credit cards offer points or miles that can be redeemed for different travel experiences. These types of rewards are less flexible than cash back, and often, users end up with rewards they can’t even use. However, if you choose a travel rewards credit card that’s right for you, you could end up with huge bonuses and great perks, especially if you like to travel.

Generic travel rewards credit cards

Bank of America’s generic travel rewards credit cards, like the aptly-named Bank of America® Travel Rewards Visa® credit card, offer points through their Bank of America rewards program. These points can be applied to travel purchases. They’re more flexible than co-branded rewards, but they might not offer the highest value for some.

Co-branded travel rewards credit cards

Co-branded travel rewards credit cards are offered by Bank of America in partnership with another, typically travel-related, company. Bank of America offers credit cards that are co-branded with airlines like Virgin Atlantic, Alaska Airlines, Spirit Airlines, and Allegiant, as well as other travel partners like Amtrak, Norwegian Cruise Line, and Royal Caribbean. While the points you earn can usually only be redeemed with that specific travel partner, these cards often come with huge sign-up bonuses and generous rewards on spending with that partner, as well as perks like free checked bags and other discounts.

Cash back credit cards

Cash back credit cards offer the most flexible and simple rewards. For each purchase you make, you’ll get a percentage of it back in the form of “cash back.” The amount you get back might be a flat rate for all purchases, such as 1.5%, or it might change depending on the category of your purchase, such as cards that offer 5% cash back at grocery stores or 3% cash back on travel purchases. At a flat rate of 1.5% cash back, you’ll get $15 back for every $1,000 you spend.

Non-rewards credit cards

Of course, not all Bank of America credit cards offer rewards. Those that don’t sometimes offer other useful benefits, aside from access to credit. These benefits can include a low interest rate, a 0% introductory APR on new purchases or balance transfers, and advantages like purchase protection and credit score tracking.

Each credit card issuer has its own quirks when it comes to credit card approvals, and Bank of America is no different. Credit score requirements will vary depending on the card, but you typically want to have good credit, which is defined as a FICO® Score of at least 670 or above.

In addition, Bank of America has an application rule dubbed the 2/3/4 rule. You cannot be approved for more than two Bank of America credit cards in any two-month time span, three in a 12-month time span, and four in a 24-month time span.

There is also some evidence that Bank of America tends to preference applications from people who have formed a previous relationship with them, such as through a checking account, savings account, investment account, or personal loan. Some of their credit card rewards programs also give bonuses to cardholders with certain Bank of America accounts. Be aware though some Bank of America account holders have reported still receiving denials because they didn’t have enough money parked in their account.

Each Bank of America credit card offers distinct benefits and perks, so it’s important to compare the differences between the various offers before making a decision. The tables below will help you understand exactly how our picks for the best Bank of America credit cards differ.

Which Bank of America credit card is right for you?

To choose the best Bank of America credit card for your needs, you’ll really want to analyze your financial goals and spending habits.

Are you paying off debt?

The BankAmericard® credit card is clearly the best option with its long 0% APR offer. The Bank of America® Cash Rewards credit card is a secondary offer to consider with a shorter 0% APR, but includes a cash rewards program.

Deciding between the two travel rewards credit cards listed

The Bank of America® Premium Rewards® Visa® credit card and the Bank of America® Travel Rewards Visa® credit card really depends on how much you spend on travel each year. The bigger sign-up bonus and the airline incidental and TSA Pre✓® or Global Entry statement credit offered by the Bank of America® Premium Rewards® Visa® credit card mean that it easily offers the best value for just about anyone in the first year, despite its $95 annual fee.

However, after that first year, it gets harder to decide whether or not the $95 annual fee on the Bank of America® Premium Rewards® Visa® credit card is worth it. The biggest added value over a rewards credit card with no annual fee is the $100 statement credit for airline incidentals. So, in order for this card to be worth it in the long run, you’ll need to spend at least $100 per year on things like checked bags, airport lounges, ticketing fees, and in-flight services.

Overall, the most important thing to consider when choosing a credit card is whether or not you’re going to use it enough to get a good value out of it. It’s also important to remember that no matter how much value you get from a credit card, it’s never worth carrying a balance and paying high interest fees, so don’t use them as an excuse to spend beyond your means.

Bank of America Cash Back and Balance Transfer Cards