Best Bank of America® credit cards for August 2022

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Bank of America has a variety of high-value credit cards that offer everything from cash back to travel rewards. Below are our top picks for the best cards available from our credit card partner, Bank of America, for 2022.

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BEST FOR CUSTOMIZABLE REWARDS

U.S. Bank Cash+® Visa Signature® Card

Reward rate
5

5% cash back on your first $2,000 in eligible net purchases each quarter on the combined two categories you choose.

3

5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Travel Center.

-1

1% cash back on all other eligible purchases.

1

1% cash back on all other eligible purchases.

Intro offer

$200 bonus

Annual fee

$0

Regular APR

16.74% - 26.74% (Variable)

Recommended credit

Good to Excellent (670 - 850)

The U.S. Bank Cash+® Visa Signature® Card is packed full of bonus rewards categories. It will take more than a little effort to track them all, but people who don’t mind strategizing to earn high rewards for all their purchases will enjoy having this card in their collection.
Pros
  • Multiple rotating and fixed bonus categories, which can make it easier to earn rewards quickly
  • The $200 sign-up bonus (after spending $1,000 within the first 120 days of account opening) increases the card’s first-year value
Cons
  • The $2,000 combined spending cap each quarter for your chosen 5% categories limits your ability to rake in rewards
  • Having to track and enroll in rotating categories can be a hassle for some
  • New! $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening.
  • 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose
  • 5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Travel Center
  • 2% cash back on one everyday category, like Gas Stations/EV Charging Stations, Grocery Stores or Restaurants
  • 1% cash back on all other eligible purchases
  • 0% Intro APR on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR currently 16.74% – 26.74%
  • No Annual Fee
  • Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
  • Terms and conditions apply.

ADDITIONAL FEATURES

Purchase intro APR
0% Intro APR on purchases for the first 15 billing cycles.

Balance transfer intro APR
0% Intro APR on balance transfers for the first 15 billing cycles.

BEST FOR PERSONAL LOAN ALTERNATIVE

Upgrade Cash Rewards Elite Visa®

Reward rate
2.2

Earn 2.2% unlimited cash back on card purchases every time you make a payment

Intro offer

$200

Annual fee

$0

Regular APR

8.99% - 29.99% (Variable)

Recommended credit

Good to Excellent (670 - 850)

If you value having an incentive for making your credit card payments, you will find a lot to love with this card option. You’ll earn a competitive rate of 2.2 percent cash back on your purchases each time you make a payment. The card is also fairly affordable, skipping the annual fee, foreign transaction fees and many other common maintenance fees.
Pros
  • You won’t need to use your reward earnings to offset any maintenance fees.
  • You’ll earn a bonus after you open a Rewards Checking account and make three purchases with the card in your first 60 days.
Cons
  • The high end APR range is well above average. That could prove costly if you don’t have the credit needed to qualify for the lower range and you end up carrying a balance.
  • You won’t get a break on interest if you carry a balance since there are no intro APR offers on purchases or balance transfers.
  • $200 bonus on your Upgrade Card after opening a Rewards Checking account and making 3 debit card transactions within 60 days.*
  • New Feature: Pay your balance in full early each month and avoid interest with EarlyPay.
  • Earn 2.2% unlimited cash back on card purchases every time you make a payment
  • See if you qualify in seconds with no impact to your credit score
  • No Fees – $0 annual fees, $0 activation fees, $0 maintenance fees
  • Combine the flexibility of a card with the low cost and predictability of a loan
  • Access to a virtual card, so you can start earning while you wait for your card to arrive in the mail.
  • Contactless payments with Apple Pay® and Google Pay™
  • Mobile app to access your account anytime, anywhere
  • Enjoy peace of mind with $0 Fraud liability
  • *To qualify for the $200 welcome bonus, you must open and fund a new Upgrade Rewards Checking Account and make 3 debit card transactions within 60 days of your Upgrade Card account opening. The bonus credit will be posted to your Upgrade Card as a rewards credit within 1-2 billing periods following the third debit transaction on your Rewards Checking account. Your Upgrade Card must be in good standing to receive the bonus.

ADDITIONAL FEATURES

Purchase intro APR
N/A

Balance transfer intro APR
N/A

BEST FOR GROCERIES

Blue Cash Preferred® Card from American Express

Reward rate
6

6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).

1

6% Cash Back on select U.S. streaming subscriptions.

3

3% Cash Back at U.S. gas stations

0

3% Cash Back at U.S. gas stations

1

1% Cash Back on other purchases

Intro offer

$350

Annual fee

$95

Regular APR

16.24%-26.24% Variable

Recommended credit

Good to Excellent (670 - 850)

With generous rewards rates in family-friendly categories including purchases at U.S. supermarkets and U.S. gas stations, on-the-go families will have a hard time finding a more rewarding credit card.
Pros
  • The base reward program is uber-lucrative, making this card a good choice for people looking for long-term value.
  • You don’t have to keep track of rotating spending categories or enrollment deadlines.
Cons
  • There is no intro APR offer on balance transfers.
  • You won’t earn the extra rewards for grocery shopping at major superstores and wholesale clubs, as those don’t count as U.S. supermarkets.
  • Earn a $350 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
  • Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 plan fees on plans created during the first 12 months after account opening. Plans created after that will have a fixed monthly plan fee up to 1.33% of each purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
  • Low intro APR: 0% intro APR for 12 months on purchases from the date of account opening, then a variable rate, 16.24% to 26.24%.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
  • 6% Cash Back on select U.S. streaming subscriptions.
  • 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
  • 1% Cash Back on other purchases.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
  • $95 Annual Fee.
  • Terms Apply.

ADDITIONAL FEATURES

Purchase intro APR
0% on purchases for 12 months

Balance transfer intro APR
N/A

BEST FOR ROTATING CASH BACK CATEGORIES

Discover it® Cash Back

Reward rate
5

Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.

1

Plus, earn unlimited 1% cash back on all other purchases – automatically.

Intro offer

Cashback Match™

Annual fee

$0

Regular APR

13.49% - 24.49% Variable

Recommended credit

Good to Excellent (670 - 850)

The Discover it Cash Back is a popular choice for cash back rewards because of the rotating bonus categories. It’s an exciting way to earn cash back quarter by quarter and all year-round without committing to a set rewards category.
Pros
  • Discover will match the cash back you earn at the end of the first year.
  • There are a few cash back redemption options, including credit to your account and donations.
Cons
  • You must enroll to take advantage of the bonus categories each quarter.
  • There is a spending limit on your highest cash back category each quarter ($1,500 in combined purchases per quarter).
  • Intro Offer: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • New! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Every $1 you earn in cash back is $1 you can redeem.
  • New Intro APR: Get a 0% intro APR for 15 months on purchases. Then 13.49% to 24.49% Standard Variable Purchase APR applies, based on credit worthiness.
  • No annual fee.

ADDITIONAL FEATURES

Purchase intro APR
0% for 15 months

Balance transfer intro APR
0% for 15 months

BEST FOR UP TO 2% CASH BACK

Citi® Double Cash Card

Reward rate
2

Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

Intro offer

$200 Cash Back

Annual fee

$0

Regular APR

16.24% - 26.24% (Variable)

Recommended credit

Good to Excellent (670 - 850)

If you make your payments on time each month, it’ll be tough to find a better cash back card than the Citi Double Cash Card. With healthy financial habits, this card effectively becomes a 2 percent flat-rate cash back card (1 percent when you make purchases and another 1 percent when you pay your bill), a rare find in the cash back market.
Pros
  • You can convert your cash back earnings to Citi ThankYou points when paired with a card like the Citi Premier® Card, which can be redeemed for travel, gift cards and more.
  • There are no spending category restrictions or rotating categories
Cons
  • Your rewards can expire with this card if you don’t use it for a year.
  • The sign-up bonus spending requirement is higher than you’ll find on many no-annual-fee cash back cards.
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • For a limited time, earn $200 cash back after spending $1,500 on purchases in the first 6 months of account opening.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 16.24% – 26.24%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).

ADDITIONAL FEATURES

Purchase intro APR
N/A

Balance transfer intro APR
0% intro for 18 months on Balance Transfers

A closer look at Creditcard’s top Bank of America cards

Capital One SavorOne Cash Rewards Credit Card: Best for dining and entertainment

  • What we love about the Capital One SavorOne: It’s rare for a no annual fee card to earn such robust rewards rates in these particular categories in dining, entertainment, popular streaming services and grocery store categories.
  • Who this card is good for: Socialites and social butterflies who will make the most out of the SavorOne’s very generous dining rewards.
  • Alternatives: The Discover it Chrome card is another card that offers competitive rewards rates on dining. It also tacks on gas rewards which is great for people who are often on the go, something that the SavorOne falls a bit short on.

Blue Cash Preferred Card from American Express: Best overall cash back for families

  • What we love about the Blue Cash Preferred: The rewards categories on this card are some of the most popular spending categories for most consumers so if you play your cards right (pun intended), you’ll have a nice stack of rewards in your cash back match in your first year.
  • Who this card is good for: On-the-go people who spend a fair amount of money at gas stations and restaurants. You can earn 2 percent in those categories on up to $1,000 in combined purchases each quarter, then 1 percent.
  • Alternatives: The Capital One SavorOne Cash Rewards card outpaces the Discover it Chrome by a lot if your main squeeze is getting the most out of dining rewards.

Citi Rewards+ Card: Best for rewards on small purchases

  • What we love about the Blue Cash Preferred: Thanks to the Citi Rewards+ Round Up feature, every purchase you make will be rounded up to the nearest 10 points. For example, a $4 coffee would be worth 10 points.
  • Who this card is good for: Frequent supermarket and gas station shoppers who want to earn cash back rewards easily without big spending habits.
  • Alternatives: If you want to expand beyond the Citi ThankYou® Points program, the Capital One Quicksilver Cash Rewards Card offers unlimited flat-rate rewards on all purchases, casting a wide net on your earning opportunities outside of a designated points program.

What is Bank of America?

Bank of America is the second largest full-service bank in the U.S. and operates in more than 35 countries.

Bank of America was the first U.S. bank to offer a general-purpose credit card with the BankAmericard released in 1958. In addition to credit cards Bank of America also offers other financial services, including mortgages, car loans, checking and savings accounts and investments through Merrill Lynch.

When it comes to credit cards, Bank of America is generally well-regarded by its customers. The issuer ranks in the middle among national issuers with a score of 805 according the J.D. Power’s 2021 credit card satisfaction survey. This is just behind Chase — which scored 807 — and tied with Citi. Although satisfaction ratings for Bank of America don’t top the charts, there are some unique benefits to holding its cards, most notably the Preferred Rewards Program.

Bank of America Preferred Rewards

The invite-only Preferred Rewards Program takes Bank of America’s services—including credit cards—from good to great. Using Bank of America for both your checking and saving needs can help you maximize the value you get from its services. As a member of Bank of America Preferred Rewards program, you can boost your rewards bonus that you earn on your Bank of America credit cards, qualify for auto loans and home equity discounts and take advantage of interest rate boosters for saving accounts.

There are three tiers of Preferred Rewards, and your tier is determined by your combined balances in your Bank of America banking and/or your Merrill investment accounts. You need to enroll in the program, but once you do, you’re automatically moved up as your balances grow.

Here is a simple breakdown of how each tier can help you earn more with your BoA credit card:

Gold Preferred Rewards requires a balance of $20,000 – $49,999 (it’s calculated as a three-month average on combined balances). If you qualify for Gold, you get a 25% rewards bonus on eligible Bank of America credit cards, as well as other banking benefits.

Platinum Preferred Rewards requires a balance of $50,000 to $99,999 and gives you a 50% boost on your rewards with eligible Bank of America credit cards. Additionally, you’ll receive a host of other benefits, such as increased savings rates and reduced mortgage origination fee.

Platinum Honors Rewards clients have a three-month average combined balance of over $100,000 and qualify for a huge 75% rewards bonus on eligible Bank of America credit cards.If you’re a Preferred Rewards client, make sure to factor the rewards bonus into your analysis of their credit card offers.

Who should get a Bank of America credit card?

Bank of America has options for many kinds of credit card users, but some consumer groups can especially benefit from one of its credit cards. They include:

Bank of America Preferred Rewards members are eligible to earn as much as 75 percent more points per purchase, based on their membership tier. Other Preferred Rewards benefits include discounts on auto loans and home equity loans.Learn more about the perks and requirements for becoming a Bank of America Preferred Rewards member.

The Bank of America Customized Cash Rewards credit card lets you choose the purchase category where you earn the highest cash back rate. This option can help you maximize your cash back returns depending on where you concentrate your spending.

Bank of America offers travel cards for everyday consumers, small business owners and students. You can book travel through the Bank of America Travel Center and enjoy benefits including roadside dispatch.

Bank of America has multiple cards with intro APR balance transfer offers. These offers provide an opportunity to transfer an existing debt to a new card and get a temporary break from interest as you pay it off.

Bank of America has credit cards to help small business owners earn cash back or travel rewards. By earning and redeeming rewards, you can defray some of the everyday costs of operating your business.
Still unsure if a Bank of America credit card is right for you? Check out our Credit Card Spender Type Tool where you can get personalized credit card recommendations based on your credit score, spending habits and daily needs.
Creditcard's Insight

By using an eligible card to book airfare, hotels or rental cars through the Bank of America Travel Center, you can earn double the standard rewards rate on those purchases.

How to choose a Bank of America credit card

It’s important to have a firm understanding of what you’re looking for from your credit card. Here are a few questions to ask yourself before applying:

What are your financial goals and personal spending habits?

There is no one-size-fits-all credit card. Determining which card will offer you the most value comes down to your goals and spending habits. If travel is an important part of your life and you want to earn rewards, one of Bank of America’s travel rewards cards might be a good fit for you. If you’re interested in managing high-interest debt, look for the best offer for doing a balance transfer with Bank of America.

It’s also important to understand your spending habits, because certain cards within a category might offer bonus rewards for certain expenses. Knowing which categories you spend the most in each month will help you choose a card that will earn the most rewards.

What are the perks and benefits?

A good credit card should offer benefits that are easy to use and a rewards system that works best for you. For instance, frequent travelers will find the most value with a travel-focused rewards card that offers perks such as travel statement credits, lounge access and trip insurance. Parents and other everyday shoppers might like the simplicity of a flat-rate cash back card with features like extended warranty. While some might prefer the flexibility of rewards and cash back cards that have rotating or custom categories. The Bank of America Customized Cash Rewards card can be a great choice for someone who has fluctuating spending habits because you can change the card’s highest earning category each month.

Can I qualify for the sign-up bonuses?

Many cards offer a sign-up bonus after you hit certain spending requirements. Just because a card has a large sign-up bonus, however, does not mean that it’s automatically a better card for you.

When looking at sign-up bonuses, it’s also important to note whether you can realistically hit the minimum spending requirement. If you have a smaller budget, a card with a smaller sign-up bonus might be easier to qualify for.

Bank of America cards typically have sign-up bonuses that require the cardholder to spend moderately. They aren’t the most easily-obtained sign-up bonuses, but they also don’t require you to spend the most.

The Bank of America Travel Rewards card offers 25,000 points (worth up to $250) for spending $1,000 in the first 90 days, while the Customized Cash Rewards card and the Unlimited Cash Rewards card offer $200 online cash rewards for spending $1,000 in the first 90 days. These spending requirements are higher than those of some competing cards. Depending on your spending habits, you may have a much easier time earning a sign-up bonus on another issuer’s card. Unless you plan to spend much more than you normally would in the months following your account opening, you should opt for a card with a sign-up bonus you can definitely obtain — as long as its rewards rates and categories match your regular spending habits.

Are you going to carry a balance?

If you ever plan on carrying a balance on your credit card, APR (annual percentage rate) is extremely important because it determines how much interest you pay. Variable APRs differ from card to card but usually fall between 17 and 30 percent based on creditworthiness. Some cards also offer an introductory APR period when you first sign up for the card, which can help you pay off large expenses with a temporary break from paying interest.

Creditcard's Insight

BankAmericard, the second universal credit card ever offered, was launched by Bank of America in 1958.

How we chose our best cards for excellent credit scores

Creditcard’s 5-star scoring system evaluates features that offer maximum value and first-rate user experience. For cards in the excellent credit category, we refine the method to focus on a set of particular factors including:

Rewards

Whether the card offers cash back, travel points/miles or multi-purpose rewards for eligible purchases and the potential returns based on rewards rate (1 percent cash back per $1 spent, 1 mile per $1 spent, and so on).

Perks and benefits

Whether the card offers extras such as retail discounts, extended warranties on purchases, travel insurance and financial management tools.

Annual fee

Whether the card charges an annual fee and if so, how much the card's overall value and benefits might offset the fee.

Introductory offers

Whether the card has a sign-up bonus, welcome offer or similar sign-up incentive and how much it adds to the card's overall value.

Variable APR

How the card's APR compares with current averages as an indicator of cost and value.

Foreign transaction fee

Whether the card charges a foreign transaction fee for international purchases and how the fee affects the card's overall value.

Frequently asked questions about credit cards for excellent credit scores

The Bank of America Preferred Rewards program is accessible to Bank of America customers by invitation. To qualify for an invitation, Bank of America customers must have at least one active Bank of America checking account that holds a minimum average daily balance of $20,000 or more, for three months.
Qualifying accounts include:

  • Bank of America Advantage Banking, savings, money market savings, CDs and IRAs
  • Merrill investment accounts
  • Merrill 529 college savings accounts
  • Revocable grantor trust accounts

As mentioned above, the program offers three tiers. Your tier, Gold, Platinum or Platinum Honors, will vary based on your account balance.

Most Bank of America cards require a good-to-excellent credit score (670-850) for approval. You’ll need a credit score of at least 670 to be approved for the cards on this list and for most other Bank of America credit cards.

Before applying for a Bank of America credit card, or any credit card for that matter, it’s important to know your credit score. Learn how to check your credit score.

There are Bank of America credit cards for all kinds of spenders—from travelers to business owners—each card has its own set of requirements for approval. If you’re not sure where you stand with your credit score check out Bankrate’s CardMatch™ tool to find out which Bank of America cards you may qualify for.

Benefits and rewards will vary based on which credit card you get. The card with the best benefits is the one you can get the most value from and, as such, will vary based on your spending habits and financial goals. Having said that, one of our top-reviewed Bank of America credit cards is the Bank of America ® Premium Rewards® credit card. It provides cardholders with a sign-up bonus worth $500 (50,000 online bonus points after spending $3,000 on the card within the first 90 days of account opening) and earns 2X points on travel and dining and 1.5X points on all other purchases. You could get a rewards boost with the increase of your Bank of America account balance through its Preferred Rewards program. (A Bank of America bank account balance of at least $100,000 daily combined over three months will increase your rewards bonus by 75%).

There are a variety of Bank of America cards and it’s likely anyone can find value in at least one of them. However, whether one of these cards is worth it depends mostly on your spending habits and financial needs.

Before deciding which Bank of America credit card is right for you, you’ll need to know whether your primary goal is building credit, avoiding interest or earning rewards. Once you know that, you can evaluate your options to see which card will best help you achieve that goal based on your credit history, outstanding card balances and spending habits.

Once you’ve narrowed in on a Bank of America card, weigh that card against similar options available from other issuers. This will give you the best idea of whether a Bank of America card is the right choice and introduce you to the various perks, benefits and rewards programs available on competing cards.

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Financing.credit is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which Financing.credit receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants’ credit approval also impact how and where products appear on this site. Financing.credit does not include the entire universe of available financial or credit offers.

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