Bank of America Unlimited Cash Rewards – How to Apply
In a world where credit cards are often overloaded with confusing reward structures, the Bank of America Unlimited Cash Rewards Credit Card offers a breath of fresh air.
With this card, you don’t have to think twice—just swipe and earn a solid 1.5% cash back on everything.
The Bank of America Unlimited Cash Rewards card caters to people who want straightforward rewards and a hassle-free experience. Whether you’re new to cashback or looking for a card that pairs well with your existing Bank of America accounts, this option delivers value from day one.
From groceries and gas to recurring bills and online purchases, everything earns at the same consistent rate, making it ideal for everyday use without overthinking categories or limits.
Bank of America Unlimited Cash Rewards
No annual fee No higher rewardsHow does the Bank of America Unlimited Cash Rewards Credit Card work?
The Bank of America Unlimited Cash Rewards card earns 1.5% unlimited cash back on every purchase. There are no bonus categories to track, no activation requirements, and no limit to how much you can earn. You simply make a purchase, and 1.5% of that amount gets credited back to your account as cash rewards.
Cashback can be redeemed as a statement credit, direct deposit, or even into a Merrill investment account—offering more flexibility than most cards in its class. The redemption process is seamless, and you won’t find any complicated restrictions or redemption portals to deal with.
New cardholders can also take advantage of a welcome bonus when they spend a qualifying amount within the first 90 days. This bonus is typically easy to achieve and puts a quick return into your hands early on.
What makes this card even more powerful is its synergy with the Preferred Rewards program. If you qualify based on your combined Bank of America and Merrill account balances, you can increase your cashback rate by 25% to 75%. That means your 1.5% return could go as high as 2.62% on every dollar.
Main benefits for the Bank of America Unlimited Cash Rewards Credit Card
One of the greatest benefits of the Bank of America Unlimited Cash Rewards card is its ease of use. The 1.5% cashback rate applies to all purchases, whether it’s a cup of coffee or a new appliance. There are no limits, no expiration on rewards, and no rotating bonus categories to worry about.
Another big perk is the lack of an annual fee. Many cashback cards charge yearly fees to access higher rates or bonus categories, but not here. That keeps more money in your wallet and makes the card ideal for long-term holding.
Plus, if you bank with Bank of America or invest with Merrill, the opportunity to boost your cashback earnings through the Preferred Rewards program makes this card especially attractive for loyal customers.
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Cons for the Bank of America Unlimited Cash Rewards Credit Card
Despite its strengths, the card does come with a few limitations. It lacks higher reward rates for specific categories like groceries, dining, or travel. If your spending tends to concentrate in one area, you might earn more with a tiered rewards card.
There are also no extra travel perks—no insurance, no airport lounge access, and no extended protections. That makes it less appealing for frequent travelers or those looking for premium features.
Finally, while the Preferred Rewards program can unlock higher cashback potential, it requires significant banking or investment balances to qualify, which may not be accessible to everyone.
APR and Fees
This card comes with a variable APR, which depends on your creditworthiness. While competitive with other no-annual-fee cards, it’s always best to avoid carrying a balance since interest can quickly reduce the value of your cashback earnings.
One of the most appealing features is the card’s transparent fee structure. No annual fee means you’re not paying just to hold the card. Cashback never expires as long as your account stays open and in good standing, and redemption options are easy to access.
There are standard late fees and penalties, but as long as you pay on time, you can use the card without worrying about hidden costs or surprise charges.
How to Apply for the Bank of America Unlimited Cash Rewards Credit Card
You can apply for this card online in a few simple steps:
- Visit Bank of America’s official website and navigate to the Unlimited Cash Rewards Credit Card page.
- Click “Apply Now” and begin your secure online application.
- Enter your personal, financial, and contact details—all the standard credit card application fields.
- Submit your application and wait for a decision. Many users receive a result within minutes.
If approved, your card will be mailed to you, and you can start earning unlimited cash back on every purchase right away.
