Bank of America Unlimited Cash Rewards – How to apply

By Raquel Oliveira • 04/03/2025

Bank of America Unlimited Cash Rewards offers 1.5% cashback on all purchases and no annual fee.

The Bank of America® Unlimited Cash Rewards credit card is a smart choice for those who want a simple, reliable way to earn cashback on every purchase. With a flat 1.5% cashback rate, it offers consistent rewards—no categories to track or activate.

New cardholders can also take advantage of a $200 welcome bonus after spending $1,000 within the first 90 days. Whether you’re paying bills, buying groceries, or shopping online, this offer gives you immediate value on your everyday spending.

Another standout feature is the no annual fee, allowing you to enjoy all the benefits without worrying about extra costs. Plus, the 0% introductory APR for the first 18 billing cycles makes it ideal for those looking to finance purchases or pay down balances interest-free.

In this article, we’ll break down how the card works, highlight its advantages and potential drawbacks, cover the fee structure, and explain how to apply—so you can decide if it fits your lifestyle and financial plans.

How Does the Bank of America Unlimited Cash Rewards Credit Card Work?

The Bank of America Unlimited Cash Rewards Credit Card operates on a simple yet effective system. Every purchase earns you unlimited 1.5% cashback, with no categories or caps to track. It’s perfect for people who value consistent rewards across all spending.

Your cashback is automatically applied as statement credits, which means you don’t have to worry about redeeming points or rewards manually. The card also doesn’t charge an annual fee, so there’s no cost to keep it in your wallet.

For those who travel, the card’s lack of foreign transaction fees adds extra value, making it a reliable choice for international spending.

Main Benefits of the Bank of America Unlimited Cash Rewards Credit Card

• Earn unlimited 1.5% cashback on all purchases, ensuring simple and consistent rewards.
• No annual fee, making it a cost-effective option for long-term cashback benefits.
• Receive a $200 welcome bonus after spending $1,000 within the first 90 days.
• A 0% introductory APR for 18 billing cycles on purchases and balance transfers, providing interest-free financing.

Cons of the Bank of America Unlimited Cash Rewards Credit Card

• Fixed cashback rate of 1.5% means there are no higher rewards for specific categories like dining or travel.
• The post-introductory APR varies between 17.99% and 27.99%, which may be costly for those who carry a balance.
• Requires a good to excellent credit score for approval, limiting accessibility for those with lower credit histories.
• A 3% foreign transaction fee applies to international purchases, making it less ideal for frequent travelers.

APR and Fees of the Bank of America Unlimited Cash Rewards Credit Card

Understanding the card’s fees and costs is crucial for maximizing cashback rewards while managing financial obligations responsibly.

• A 0% introductory APR for 18 billing cycles on purchases and balance transfers, offering financial flexibility.
• After the introductory period, the APR adjusts to a variable rate between 17.99% and 27.99%, based on creditworthiness.
• A 3% foreign transaction fee applies to international purchases, which can add up for those who frequently spend abroad.
• No annual fee, allowing users to take full advantage of cashback rewards without incurring additional costs.

How to Apply for the Bank of America Unlimited Cash Rewards Credit Card

Applying for this credit card is a simple and quick process, often resulting in instant approval decisions for qualified applicants.

• Visit the official Bank of America website and navigate to the credit card section to begin the online application.
• Complete the application form with personal and financial details, including name, address, income, and Social Security number.
• Existing Bank of America customers can log into their accounts to expedite the application process and check for pre-approval offers.
• Upon approval, the card will be delivered within 7 to 10 business days and can be activated immediately for purchases and cashback rewards.

Who Should Apply for the Bank of America Unlimited Cash Rewards Credit Card?

This credit card is best suited for individuals who want a hassle-free cashback system that provides consistent earnings on all purchases, without the need for category tracking.

It is an excellent option for those who prefer a no-annual-fee rewards card, ensuring that they keep the full value of their cashback without additional costs.

Additionally, it benefits those planning significant purchases or balance transfers, as the 18-month 0% APR period offers an extended interest-free financing opportunity.

However, users who spend heavily in specific categories like dining, groceries, or travel may find greater value in a cashback card that offers higher fixed rewards for those expenses.

Final Considerations

The Bank of America Unlimited Cash Rewards credit card provides a simple and effective cashback structure, making it an attractive option for those who want steady rewards without tracking spending categories.

While its fixed cashback rate is lower than some category-based rewards cards, its no-annual-fee structure and long introductory APR period make it a practical choice for everyday use.

With its unlimited cashback, no annual fee, and flexible redemption options, this card is a practical choice for those seeking consistent rewards without complications, making it a valuable addition to any financial strategy.

Before submitting your application, take time to assess whether the unlimited 1.5% cashback on all purchases and the 3% foreign transaction fee truly match your lifestyle, spending behavior, and overall financial strategy.