One of the largest credit card issuers is Bank of America. They issue credit cards using the Visa and MasterCard networks. The fact that your card runs on the company’s payment network is the sole actual distinction between Visa and Mastercard. To fit any lifestyle, they provide a range of features and benefits. There are options available if you want to get cash back on all of your purchases: flexible travel points that can be used for more than just flights, or airline miles. They also have options if you want a credit card with a reduced interest rate.

Bank of America offers six types of credit cards: the Bank of America® Customized Cash Rewards credit card, the Bank of America® Unlimited Cash Rewards credit card, the BankAmericard®, Bank of America® Travel Rewards, Bank of America® Premium Rewards®, and Bank of America® Premium Rewards® Elite. Here are my top 3 favorites:

3 Types of Credit Cards from Bank of America

Bank of America® Travel Rewards

There are no annual fees or transaction costs abroad.

Every $1 you spend on purchases earns you an unlimited 1.5 points, and points never expire. Plus, after spending at least $1,000 in the first 90 days of your account opening, you will receive 25,000 online bonus points.

Here are the key points to note:

• Every $1 you spend on purchases earns you an unlimited 1.5 points: This means that for every dollar you spend using the credit card, you will earn 1.5 points. For example, if you spend $100, you will earn 150 points (100 x 1.5).
• Points never expire: This means that the points you earn will not expire and you can accumulate them over time to redeem for rewards later.
• After spending at least $1,000 in the first 90 days of your account opening, you will receive 25,000 online bonus points: This means that if you spend at least $1,000 using the credit card within the first 90 days of opening your account, you will receive a bonus of 25,000 points. This is a one-time bonus offer and is only available to new customers who meet the spending requirement.
• Members of Preferred Rewards receive 25–75% more points for every dollar spent. In other words, depending on where you spend your money, you may get 1.87 to 2.62 points for every dollar.

In summary, this credit card or rewards program offers unlimited points for every dollar spent, with no expiration date for the earned points. Additionally, new customers can earn a one-time bonus of 25,000 points by spending at least $1,000 within the first 90 days of opening their account.

Bank of America® Customized Cash Rewards

No annual fee

2% cash back at supermarkets and wholesale clubs, 3% cash back in the category of your choice, and 1% cash back on all other purchases. Plus, your combined choice category, grocery store, and wholesale club purchases totaling up to $2,500 every quarter will earn you 3% and 2% cash back, followed by 1%.

After making at least $1,000 in transactions during the first 90 days of your account creation, you will receive a $200 cash reward incentive online. 

This means that if you spend at least $1,000 using your credit card within the first 90 days of opening your account, you will receive a $200 cash reward incentive. This incentive is a one-time offer available to new customers who meet the spending requirement. The $200 reward will be given in the form of cashback, which can be credited to your account or deposited into a bank account.

Preferred Rewards members earn 25%–75% more cash back on every purchase.

This is a loyalty program that offers extra benefits to customers who meet certain requirements, such as maintaining a certain account balance or having certain types of accounts with the issuer. 

This means that if you are a member of the Preferred Rewards program, you will earn more cash back on every purchase than non-members. Specifically, the amount of cash back you earn will be increased by 25% to 75%, depending on your membership level. For example, if the regular cash-back rate is 1%, as a Preferred Rewards member, you could earn up to 1.75% cash back on every purchase.

According to this, the first $2,500 in combined choice category/grocery store/wholesale club sales each quarter could earn the 3% category between 3.75% and 5.25%, the 2% category at wholesale clubs between 2.50% and 3.50%, and the 1% category for all other purchases between 1.25% and 1.75%. 

Bank of America® Premium Rewards® Elite

$550 annual fee

Earn a limitless 1.5 points for each dollar spent on all other purchases, and a limitless 2 points for each dollar spent on travel and dining. You can also receive up to $550 in combined TSA PreCheck® and Global Entry, a lifestyle statement, and incidental airline credits. 

A full-service concierge, access to airport lounges, first-rate hotel amenities, and purchase and travel protections are luxurious benefits.

Get 50,000 online bonus points, worth $500, after spending at least $3,000 during the first 90 days of opening your account.

Members of Preferred Rewards receive 25–75% more points for every dollar spent. In other words, for every $1 you spend, you might get 2.5 to 3.5 points on lodging and food expenses and 1.87 to 2.62 points on all other purchases.

How to Apply

Step 1: Visit the Bank of America official site. 

Step 2: Choose the card you want. 

You can click on each card to view full details, including each term and condition.

Step 3: Fill up the form.

At the bottom of each page, there is a form you can fill out, then click on Save and Continue. No need to do this if you already have an account- all you have to do is sign in.

Step 4: Apply

Once you are done with the form or have signed in, you will be routed to the application page. Just fill up any required information and click “apply.”