Bank of America Unlimited Cash Rewards Credit Card Review
2021.7 Update: This is a new card, and the welcome offer is $200.
- $200 offer: earn $200 cashback after spending $1,000 in first 3 months.
- Earn 1.5% cashback on all purchases.
- BoA Preferred Rewards program: If you have checking/savings/brokerage account in BoA or Merrill Edge, you can earn additional points based on the amount of asset. Earn additional 25% rewards if you are in Gold tier ($20k or more in balance); 50% if Platinum tier ($50k or more in balance); 75% if Platinum Honors tier ($100k or more in balance).
- No annual fee.
- It has foreign transaction fee, so it's not a good choice outside the US.
Recommended Application Time
- You can get it even without SSN and with no credit history at all! We recommend you go to the branch in this situation.
- [New] 2/3/4 Rule: BoA will only approve you for at most: 2 cards per rolling 2 months; 3 cards per rolling 12 months; and 4 cards per rolling 24 months. Because their IT system hasn’t been fully updated yet, you may not get declined because of this rule. Instead, you may get approved at first, and then the account will be closed because of “approved in error”.
- [New] 24 month churn rule: This card will not be available to you if you currently have or have had the card in the preceding 24 month period.
The sign-up bonus is decent for a no annual fee card. If you have $100k+ balance in BoA or Merrill Edge, you can earn 1.5%*(1+75%)=2.625% in return! This card is quite similar to BoA Travel Rewards, the main differences are: (1) this card is a cashback card, so you don’t need to worry about the hustle of redeeming point; (2) this card has foreign transaction fee, so you shouldn’t use it outside of the US.
Related Credit Cards
- Click here to check BoA application status.
- BoA reconsideration backdoor number: 877-383-0120 or 866-811-4108. It seems that the number is changing. Please inform us at once if it fails. The representatives here can get in touch with decision-makers directly.