BoA Cash Rewards Credit Card (2017.8 Updated: $150 Offer)

Bank of America Cash Rewards Credit Card Review

2018.3 Update: This card is changed from Visa to MasterCard, so you can’t use it in Costco any more. We are not sure whether the change applies to current customers as well.

Application Link

  1. BoA Cash Rewards regular version.
  2. BoA Cash Rewards for StudentsNote: student version has the same benefits as the regular version except the sign-up bonus. We suggest students apply for student version, non-students apply for non-student version, as suggested by their names.

Features

  1. Earn $150 after spending $500 in first 3 months. Note that you can only get this sign-up bonus if you apply online, you won’t get it if applying in branch. The highest offer is $200 for the MLB/NEA/MTA versions.
  2. Earn 3% cash back on gas, and 2% cash back at grocery stores and wholesale clubs (e.g. Sam’s Club) for the first $2,500 in combined grocery stores and gas purchases each quarter, 1% cash back on other purchases.
  3. Earn an additional 10% bonus points if you have a regular Bank of America checking or saving account; an additional 25% bonus points if you have a Gold tier BoA bank account or investment account ($20k or more in balance); 50% if Platinum tier ($50k or more in balance); 75% if Platinum Honors tier ($100k or more in balance).
  4. No credit history needed, as long as you have certain amount of deposit in Bank of America (BoA) Checking Account. If you have no credit history, you need to go to the branch to apply.
  5. No annual fee.

Disadvantages

  1. It has foreign transaction fee, so it's not a good choice outside the US.

Recommended Application Time

  1. You can get it even without SSN and with no credit history at all! We recommend you go to the branch in this situation.
  2. You can have at most 1 BoA credit card if you are an undergrad student, 2 if grad student. Other people don’t have such a restriction, but BoA may cancel your credit cards to 4 if you have too many.
  3. You can have multiple same credit card from BoA. You must wait at least 90 days to apply for the same credit card, otherwise the application will be automatically cancelled.
  4. [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”.

Summary

The reward rate of BoA Cash Rewards Card is not high, but it’s still worth applying if you have zero or very limited credit history. You have to go to a branch to apply if you do not have any credit history, note that you will not get any sign-up bonus applying in branch, but don’t care about the bonus for your first credit card. You could switch to other credit cards with better rewards once you have enough credit history.

After Applying

  • 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.

Historical Offers Chart

Application Link

  1. BoA Cash Rewards regular version.
  2. BoA Cash Rewards for StudentsNote: student version has the same benefits as the regular version except the sign-up bonus. We suggest students apply for student version, non-students apply for non-student version, as suggested by their names.

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