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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Advertising Disclosure

LendingTree is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products. We are compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order).
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Bank of America® Unlimited Cash Rewards credit card Review

Updated on:
Content was accurate at the time of publication.
LendingTree's Review

How LendingTree Rates Credit Cards?

Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
4.6
Bank of America<sup>®</sup> Unlimited Cash Rewards credit card
Sign-Up Bonus
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
Intro APRs
0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.49% - 28.49% Variable APR on purchases and balance transfers will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
Rewards Rate
1.5% cash back on all purchases.
We receive commissions from our advertising partners. These commissions do not influence our recommendations. Click here to learn more.
Citi is an advertising partner.

Key takeaway

The Bank of America® Unlimited Cash Rewards credit card is a good choice if you want a simple cash back credit card with no annual fee. There’s unlimited cash back on every purchase and a long intro APR on purchases and balance transfers. But there are cards that offer even higher flat-rate cash back and more benefits.

Pros and cons

  • $0 annual fee
  • Solid sign-up bonus
  • Unlimited cash back on every purchase
  • Earn 25% to 75% more cash back with Bank of America Preferred Rewards®
  • Long intro APR on purchases and balance transfers
  • No bonus categories
  • Few other benefits

Is the Bank of America® Unlimited Cash Rewards credit card good?

If you prefer a simple approach to earning and redeeming rewards, a flat-rate cash back card like the Bank of America® Unlimited Cash Rewards credit card could be a great fit.

You’ll earn unlimited 1.5% cash back on all purchases. This means you won’t have to keep track of bonus earning categories or spending caps. There’s also a lengthy intro APR on purchases and balance transfers, making it ideal if you need to finance a large purchase or transfer debt from a high-interest credit card.

But if earning a high rate of cash back is your main priority, there are cards that offer even higher flat-rate rewards on every purchase, such as the Wells Fargo Active Cash® Card. Or if you’re looking for additional benefits including travel and purchase protections, a travel credit card might work better.

How much does it cost to own? A cardholder will pay $0 in annual fees, on average, and will earn around $500 in cash back in rewards in the first year.

Looking for more cash back credit card options? See our list of best cash back credit cards.

Quick facts

  • Annual fee: $0
  • Sign-up bonus: $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • Rewards: 1.5% cash back on all purchases.
  • Intro purchase APR: 0% Intro APR for 15 billing cycles for purchases
  • Intro balance transfer APR: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
  • Regular purchase and balance transfer APR: 18.49% - 28.49% Variable APR
  • Balance transfer fee: 3% for 60 days from account opening, then 4%
  • Foreign transaction fee: 3%
  • Other benefits: $0 Liability Guarantee, Overdraft protection and Free FICO® Score access.
  • Recommended credit: Good / Excellent

Bank of America® Unlimited Cash Rewards credit card benefits

  • Solid sign-up bonus

    The Bank of America® Unlimited Cash Rewards credit card offers a solid sign-up bonus with a low spend requirement: Earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

    This is a pretty standard sign-up bonus for a cash back credit card with a flat rewards rate and $0 annual fee. For example, the Wells Fargo Active Cash® Card has a similar sign-up bonus with an even lower spend requirement. You’ll earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.

    According to a LendingTree study, the average sign-up bonus on a new cash back credit card is $157.23, while the median is $200.

  • Unlimited cash back on every purchase

    With the Bank of America® Unlimited Cash Rewards credit card, you’ll earn unlimited 1.5% cash back on all purchases. There’s no limit to the amount of cash back you can earn, and cash rewards don’t expire as long as your account remains open. Cash rewards can be redeemed for statement credits or deposits made directly into a Bank of America checking or savings account, or to pay for purchases when you shop at Amazon or check out with PayPal.

    This is a decent flat-rate cash back rate, but there are $0 annual fee cards that offer even higher rewards. For example, the Wells Fargo Active Cash® Card allows you to Earn unlimited 2% cash rewards on purchases. There are also cards that offer higher cash back rewards on popular spending categories, but you’ll typically earn only 1% cash back on all other purchases.

  • Earn 25%-75% more cash back with Bank of America Preferred Rewards®

    The Bank of America® Unlimited Cash Rewards credit card gives you the opportunity to earn 25% to 75% more cash back on every purchase after enrolling in the Bank of America Preferred Rewards® program. You could earn 1.87% to 2.62% cash back on every purchase, increasing this card’s value compared to other flat-rate cash back cards.

    TierThree-month combined average daily balanceRewards bonus
    Gold Tier$20k to < $50k25%
    Platinum Tier$50k to < $1000k50%
    Platinum Honors Tier$100k to < $1M75%
    Diamond Tier$1M to < $10M75%
    To enroll, you must have an active, eligible Bank of America personal checking account and maintain a three-month combined average daily balance of $20,000 or more in qualifying Bank of America deposit accounts and/or Merrill® investment accounts.
  • Long intro APR on purchases and balance transfers

    If you’re looking to finance a large purchase and pay it off over time, this card allows you to do so interest-free for more than a year. You’ll get a 0% Intro APR for 15 billing cycles for purchases, then an ongoing 18.49% - 28.49% Variable APR.

    You’ll also get a 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After that, a 18.49% - 28.49% Variable APR on balance transfers applies.

    This is a pretty long intro APR for a $0 annual fee card offering cash back rewards. Intro APRs typically range from six months to 21 months, and the cards that have the longest intro APRs don’t usually offer rewards or a sign-up bonus.

    See all of our top picks for 0% APR credit cards.
    See all of our top picks for balance transfer credit cards.

Bank of America® Unlimited Cash Rewards credit card drawbacks

  • No bonus categories

    The Bank of America® Unlimited Cash Rewards credit card doesn’t come with any bonus categories.

    If you like the idea of earning 1.5% cash back on every purchase but are interested in cash back categories, the Chase Freedom Unlimited® card might be a good choice. You can earn 5% cash back on travel purchased through Chase Travel℠ and 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services. You’ll earn 1.5% cash back on all other purchases. Or there are cards that offer cash back on categories that rotate each quarter, such as the Chase Freedom Flex℠ card.

  • Few other benefits

    Outside of its rewards program and generous intro APR on purchases and balance transfers, the Bank of America® Unlimited Cash Rewards credit card is lacking when it comes to other benefits. You’ll get a few protections, including $0 liability guarantee and overdraft protection. But similar cards offer additional value.

    For example, the Wells Fargo Active Cash® Card has a long list of benefits including an auto rental collision damage waiver, travel emergency assistance services, roadside dispatch and up to $600 of cellphone protection against damage or theft. The Capital One Quicksilver Cash Rewards Credit Card also offers more benefits, such as extended warranty, Master RoadAssist® Service and more.

Bank of America® Unlimited Cash Rewards credit card vs. Wells Fargo Active Cash® Card

| Disclosures
Wells Fargo Active Cash® Card*
Wells Fargo Active Cash® Card
0% intro APR for 12 months from account opening
19.49%, 24.49%, or 29.49% Variable APR
$0
Earn unlimited 2% cash rewards on purchases
  • Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
  • Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
  • Earn unlimited 2% cash rewards on purchases.
  • 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.49%, 24.49%, or 29.49% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
  • $0 annual fee.
  • No categories to track or remember and cash rewards don’t expire as long as your account remains open.
  • Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
  • Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
660 720 850
Good / Excellent
*The information related to the Wells Fargo Active Cash® Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.


The Wells Fargo Active Cash® Card is a similar card to the Bank of America® Unlimited Cash Rewards credit card, but it has a few features that make it a better choice. You’ll earn unlimited 2% cash rewards on purchases, which is a higher cash back rate than the Bank of America® Unlimited Cash Rewards credit card.

Plus, the sign-up bonus has a much lower spend requirement. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. You’ll also get up to $600 of cellphone protection when you use your card to pay your monthly cellphone bill (subject to a $25 deductible). This is rare for a no-annual-fee credit card.

The intro APR for purchases and balance transfers is similar. But you’ll have a longer period of time to transfer your balance at a lower balance transfer fee (3% for 120 days from account opening, then up to 5%, min: $5).

Bank of America® Unlimited Cash Rewards credit card vs. Capital One Quicksilver Cash Rewards Credit Card

| Disclosures
Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card
apply-now-icon Apply Now
on Capital One's secure site
Rates & Fees
0% intro on purchases for 15 months
19.49% - 29.49% (Variable)
$0
1.5% Cash Back on every purchase, every day; 5% Cash Back on
  • Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • $0 annual fee and no foreign transaction fees
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases and balance transfers for 15 months; 19.49% - 29.49% variable APR after that; balance transfer fee applies
  • For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
660 720 850
Good / Excellent

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.


If you’re a frequent traveler looking to earn cash back rewards, the Capital One Quicksilver Cash Rewards Credit Card is a better option. You’ll get 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply). Plus, unlike the Bank of America® Unlimited Cash Rewards credit card, there’s no foreign transaction fee (see rates & fees).

The Capital One Quicksilver Cash Rewards Credit Card comes with a long intro APR on purchases and balance transfers that is similar to what the Bank of America® Unlimited Cash Rewards credit card offers (a balance transfer fee applies). And, there’s a $0 annual fee (see rates & fees).

Bank of America® Unlimited Cash Rewards credit card vs. Citi Double Cash® Card

| Disclosures
Citi Double Cash® Card
Citi Double Cash® Card
apply-now-icon Apply Now
on Citibank's secure site
Rates & Fees
N/A
18.49% - 28.49% (Variable)
$0
Earn 2% on every purchase with unlimited 1% cash back when you
  • Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.49% - 28.49%, 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).
600 660 720 850
Fair / Good / Excellent

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.


The Citi Double Cash® Card has the possibility to earn a higher 2% cash back on purchases. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25. You can also transfer your rewards to a few of Citi’s hotel and airline partners and to other Citi cards.

If you’re planning to use your card for a balance transfer, the Citi Double Cash® Card offers a longer intro APR for balance transfers, but no intro APR for purchases.

Is the Bank of America® Unlimited Cash Rewards credit card right for you?

If you like the simplicity that a flat-rate cash back card has to offer, it’s hard to go wrong with the Bank of America® Unlimited Cash Rewards credit card. Along with a decent sign-up bonus and $0 annual fee, the card comes with a generous introductory APR on purchases and balance transfers. Plus, as a Preferred Rewards member, the rewards rate can jump to 1.87% to 2.62% cash back on every purchase.

But if you want to earn more than 1.5% cash back on every purchase  — as well as have access to more redemption options and more extensive benefits — the Wells Fargo Active Cash® Card is a great alternative.

Want to compare cash back credit cards?

For Capital One products listed on this page, some of the above benefits are provided by third parties such as Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as certain terms, conditions, and exclusions apply.

The information related to the Wells Fargo Active Cash® Card and Chase Freedom Flex℠ has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.