Everything You Need To Know About the Best Bank of America Credit Cards

Using our research and scoring methodology, we identified the best Bank of America credit cardsfor consumers and businesses with various needs. There is a credit card for everyone at Bank of America, whether you are looking for the best credit card, travel credit card, a cashback card, or even a credit card for people with bad credit. The Preferred Rewards program allows cardholders of the bank's reward-earning cards to earn even more points or cashback on their purchases. Your participation in this program is determined by the total qualifying balances in your Bank of America banking and Merrill Lynch investment accounts as of the date of application. Continue reading to find out which Bank of America credit cards we think are the best.

Premium Rewards from Bank of America

We chose it because of its broad redemption possibilities, hefty bonus point offer, and the absence of foreign transaction fees. Although this card has a $95 annual fee, it is comparable to competing issuers' other popular travel rewards cards. It should be easily justified by the earnings generated by consistent use.

Pros

• The quality of rewards varies from good to outstanding
• Generous reimbursements for travel expenses
• A significant bonus

Cons

• There are no points-transfer partners available
• There is a lack of choice among travel suppliers

Students Cash Rewards From Bank of America

Because of its adjustable cashback rewards scheme, the Bank of America Customized Cash Rewards for Students is our choice for the best Bank of America student credit card. This is an American credit card to consider for students who want to enhance their credit while still getting cash back on regular purchases such as petrol, internet shopping, and grocery. Because there is no annual charge and a 15-month introductory rate of 0 percent APR on purchases and debt transfers, it is well worth considering.

Pros

• Up to a quarterly combined spending limit, you may earn 3 percent cashback in the area of your choosing and 2 percent cash back on groceries
• Purchases and debit transfers are eligible for a 15-month 0% APR offer from the date of account creation
• Customers of financial institutions might benefit from overdraft protection and loyalty benefits

Cons

• For students traveling or studying abroad, the foreign transaction cost is less than ideal
• The highest possible incentives earnings are limited
• Spending is necessary for the one-time $200 welcome bonus, which is rather substantial

The Bank of America Premium Rewards

The Bank of America Premium Rewards credit card, like many others in its class, offers extra rewards on travel and dining. Still, the rate it pays on "all other expenditure" is 50 percent greater than the rate provided by similar cards. Because of the many travel benefits it offers, the yearly cost is worth it in our opinion.

Pros

• A significant increase above the standard one percent base rate offered by best credit cards. Points are worth the same whether you use them to book a trip or cash them in for cash. For airline incidentals, there are statement credits. There is also a TSA Precheck/Global Entry application cost and a somewhat generous sign-up bonus.

Cons

• Because of this, points cannot be transferred to a partner airline or hotel program, where they may be worth more, as is the case with some competitor credit cards.

Conclusion

All Bank of America credit cardsis equipped with several standard features. For example, you may get a free copy of your FICO score, updated monthly, by downloading the bank's Mobile Banking app or signing in online. Also accessible via these capabilities is the ability to see your credit card statement online, transfer cash, check available credit, and set up account notifications. It provides cards for consumers wanting travel and cashback benefits and student, debt transfer, and business credit cards. It is one of the largest issuers of credit cards in the Visa network.

The Preferred Rewards program allows cardholders of the bank's reward-earning cards to earn even more points or cashback on their purchases. Your participation in the program is determined by the total qualifying balances in your Bank of America banking and Merrill Lynch investment accounts as of the date of application.