What Bank of America Credit Cards Offer

Bank of America issues more than a dozen credit cards, each built for different spending patterns and financial goals. Some cards reward cash back on everyday purchases, others offer travel points, and some are designed for people rebuilding credit or new to credit cards. Every card comes with fraud protection and access to Bank of America's online banking portal, where you can track spending, set alerts, and manage your account 24/7.

The cards vary in annual fees, rewards rates, and sign-up bonuses. Some have no annual fee at all. Others charge $95 or more per year but offer benefits like travel credits or higher rewards that can offset the cost if you use the card regularly. The card you choose depends on how much you spend, what you spend on, and whether you want to pay an annual fee in exchange for premium perks.

Key Takeaways

  • Bank of America offers cash back cards, travel rewards cards, and cards for people new to credit, each with different annual fees and reward structures.
  • You can compare cards on Bank of America's website before you open an account, and the process takes about 10 minutes online.
  • New cardholders can see their credit decision when ready or within a few business days, depending on whether Bank of America needs to verify your identity.
  • Once approved, your physical card arrives in 7 to 10 business days, but you can use the card number when ready for online purchases through the mobile app.
  • Bank of America cardholders can redeem rewards as cash back, statement credits, or transfers to partner airlines and hotels.

Main Types of Bank of America Credit Cards

Cash back cards return a percentage of what you spend back to your account. The Bank of America Cash Rewards card, for example, earns 1% cash back on all purchases with no annual fee. The Premium Rewards card earns higher rates (up to 2.625% on certain categories) but charges a $95 annual fee. You choose which card matches your spending and budget.

Travel rewards cards earn points on flights, hotels, and dining instead of cash. These cards often include travel protections like trip cancellation insurance and baggage delay reimbursement. They typically carry annual fees of $95 to $450, depending on the card's tier and benefits.

Cards for building or establishing credit include the Bank of America Secured Credit Card, which requires a cash deposit as collateral, and the Bank of America Credit Card for students. These cards report to all three credit bureaus and help you build a credit history if you are new to credit or recovering from past credit problems.

How to Open a Bank of America Credit Card

Start by visiting bankofamerica.com and navigating to the credit cards section. You can view all available cards, compare rewards rates, annual fees, and benefits side by side. Read the full terms for any card you are considering — the rewards rates, any caps on earning, and what happens after an introductory period ends.

When you are ready, click the "Open Now" or similar button on the card's page. You will enter your Social Security number, date of birth, income, and employment status. The process asks whether you want the card linked to an existing Bank of America checking or savings account. If you already bank with Bank of America, linking your accounts can speed up the process.

Bank of America will give you a decision when ready in many cases. If the bank needs to verify your identity — for example, by confirming your address or recent transactions — the decision may take a few business days. You will receive an email or phone call with the result. If you are approved, your card number appears in the mobile app right away, so you can make online purchases before the physical card arrives.

What Happens After You Are Approved

Your physical card ships within 7 to 10 business days. You can set up it through the mobile app, by calling the number on the back of the card, or online at bankofamerica.com. set up is quick — usually just confirming your identity and setting a PIN if you want one for in-store use.

Once active, you can use the card anywhere Visa is accepted. Your transactions appear in the Bank of America app and online banking portal within a day or two. You can set up automatic payments, pay the full balance, or carry a balance and pay interest on what you owe. The minimum payment is due by the date shown on your statement, typically 21 to 25 days after the statement closes.

Rewards post to your account automatically. With cash back cards, you see the cash back amount in your account or can request a statement credit. With travel rewards cards, points accumulate in your rewards account and you redeem them through the Bank of America portal or mobile app.

Understanding Rewards and How to Redeem Them

Each Bank of America card earns rewards at a different rate depending on what you buy. A flat-rate cash back card earns the same percentage on everything. A category-based card earns higher rates on specific purchases — for example, 3% on dining and travel, 1% on everything else — and lower or no rewards on categories outside the bonus structure.

You redeem rewards through your Bank of America account. Log into the app or website, go to the rewards or benefits section, and choose how you want to use your earnings. Cash back can be deposited to your checking account, applied as a statement credit, or transferred to a linked external bank account. Travel points can be redeemed for flights, hotels, and car rentals through Bank of America's travel portal, or in some cases transferred to airline and hotel loyalty programs.

There is no expiration date on Bank of America rewards, so you can let them accumulate if you are saving toward a larger redemption. Some premium cards offer additional perks like statement credits for travel purchases or dining, which work differently from rewards — these are automatic credits that appear on your bill when you use the card for those categories.

Fees, Interest Rates, and What to Watch

Annual fees range from $0 to $450 depending on the card. No-annual-fee cards are straightforward: you pay nothing to hold the card. Premium cards charge an annual fee but often include benefits like travel credits, airport lounge access, or higher rewards rates that can make the fee worthwhile if you use the card regularly.

Interest rates (called the APR, or annual percentage rate) vary based on your credit score and creditworthiness. Bank of America will show you the APR range before you submit your process. If you carry a balance, you will pay interest on the amount owed at that rate. If you pay your full statement balance by the due date each month, you pay no interest.

Late fees explore if you miss a payment. The fee amount depends on how late you are and your card's terms, but typically ranges from $25 to $39 for the first late payment. Paying at least the minimum by the due date avoids this fee. Bank of America also offers payment reminders through the app and email, which you can turn on to avoid missing a due date.

Frequently Asked Questions

Can I use my Bank of America credit card right away after I am approved?

Yes. Your card number appears in the mobile app when ready after approval, so you can make online purchases the same day. The physical card takes 7 to 10 business days to arrive. You can set up it as soon as it comes and use it in stores or online.

What is the difference between a cash back card and a travel rewards card?

Cash back cards return a percentage of your spending as cash, which you can deposit to your bank account or use as a statement credit. Travel rewards cards earn points that you redeem for flights, hotels, and other travel expenses. Travel cards often charge higher annual fees but include travel protections and perks like lounge access.

Do I need an existing Bank of America account to open a credit card?

No. You can open a Bank of America credit card without a checking or savings account. However, linking the card to an existing Bank of America account can speed up the approval process and make it easier to manage your accounts in one place.

What happens if I miss a credit card payment?

A late fee applies, typically $25 to $39 for the first missed payment. Your interest rate may increase, and the missed payment is reported to credit bureaus, which can lower your credit score. Contact Bank of America when ready if you miss a payment — the bank may be able to waive the fee if it is your first late payment.

Can I transfer my rewards to someone else?

No. Bank of America rewards are tied to your account and cannot be transferred to another person. However, you can redeem your rewards for a statement credit that lowers your bill, or use travel points to book flights or hotels for anyone you choose.