Are you interested in getting a credit card with many perks for purchasing and travel from one of America's leading banks? With this credit card guide, you can choose which Bank of America credit card works best for your specific needs.
Bank of America offers 22 MasterCard and Visa credit card types with specific features for different kinds of customers. So, the lender has a card perfect for you, whether you intend to use it to get rewards and cash back for your daily purchases or book a flight or accommodation. Continue reading to find out how to apply for a Bank of America credit card and find out more about them.
Benefits & Features of a Bank of America Credit Card
For simplification, let us choose four featured Bank of America credit card types: Cash Rewards, BankAmericard, Travel Rewards, and Premium Rewards. These credit cards are designed to provide tons of perks for customers of different walks of life.
One of the great Bank of America Credit Card features is zero to low annual fees. Cash Rewards, BankAmericard, and Travel Rewards charge no annual fee; only the elite Premium Rewards card charges a low annual fee of $95. The bank's travel cards (Travel Rewards and Premium Rewards) also have no foreign transaction fees.
More of the many benefits of Bank of America Credit Cards include bonus rewards and cash back. You can earn unlimited points from your purchases with the Cash Rewards, Travel Rewards, and Premium Rewards cards. Travel Rewards cardholders, for example, earn 1.5 points for every $1 spent on purchases. You can convert these points to various perks like discounts, exclusive deals, and many others. Among the four, only BankAmericard does not have a rewards system, as it targets those who want low interest and balance transfer fees.
All Bank of America credit cards are equipped with advanced safety features by Mastercard or Visa. Each card has an embedded EMV chip that stores and protects your data from fraud and unauthorized use. This technology also allows you to transact with ease anywhere in the world.
Bank of America Credit Card Offers
Except for BankAmericard, which is designed primarily for a balance transfer, you can receive Bank of America Credit Card bonus points once your application is approved. For the Cash Rewards card, you have $200 online cash rewards bonus, while for Travel Rewards and Premium Rewards cards, you get 25,000 and 50,000 online bonus points respectively.
For Cash Rewards cardholders, Bank of America recently provides a 3% cash back in your chosen category on top of the 2% cash back for grocery items at participating stores and wholesale clubs, and unlimited 1% cash back on other purchases. Meanwhile, BankAmericard customers can enjoy an interest-free intro promo wherein they pay 0% interest for 15 billing cycles for purchases.
Bank of America Credit Card Balance Transfer
BankAmericard lets you save on credit card interest. Through this balance transfer credit card, you can transfer the existing balance of your current credit card to your BankAmericard and pay a low interest of 15.24% to 25.24%. The good thing is that you're entitled to a $0 introductory balance transfer fee for the first 60 days upon the opening of your account.
Bank of America Credit Card Eligibility
Among Bank of America's credit card eligibility requirements, you must be at least 18 years of age in the US mainland, Alaska, or Hawaii or at least aged 21 years if you're in Puerto Rico. You must also be a US citizen or resident.
Some of the supporting documents that you must present are proof of identification, such as valid IDs and proof of employment and income, as well as a social security number.
Bank of America Credit Card Application
There are many ways to apply for a Bank of America credit card. You can apply through the bank’s online credit card application by visiting the Bank of America website and filling out the form. The whole process usually takes only 10-15 minutes.
You can also set an appointment if you prefer a one-on-one consultation with a bank representative and ask them how to apply.
Bank of America Credit Card Activation
The Bank of America credit card processing time usually takes only a few minutes. Once you've submitted your online application form, the bank will respond in as little as one minute whether you've been approved for your desired card or another card type (if the bank needs more time to review your information or you've been declined.)
When you receive your card within 7-10 days, you can activate it either by using online banking or by calling a bank representative on the phone. Just sign in or enroll if you are not yet registered.
Bank of America Credit Card Limit
To determine your Bank of America credit limit, the bank usually checks on various factors, which include financial status and income, credit history, and monthly expenses. You can increase your credit limit amount once you’ve improved your credit record and financial status.
Bank of America Credit Card Interest Rate and Fees
Purchase APR
- BankAmericard: 15.24% - 25.24%
- Cash Rewards: 16.24% - 26.24%
- Travel Rewards: 17.24% - 25.24%
- Premium Rewards 18.24% - 25.24%
Balance Transfer Interest Rate
- BankAmericard: 15.24% - 25.24%
- Cash Rewards: 16.24% - 26.24%
- Travel Rewards: 17.24% - 25.24%
- Premium Rewards: 18.24% - 25.24%
Other fees
- Cash Advance Fees: $10 or 3%, whichever is greater
- Late Payment Fee: up to $39
- Foreign Transaction Fee: $0 (for Travel Rewards and Premium Rewards) to 3% of the dollar amount per transaction (BankAmericard and Cash Rewards)
Bank of America Credit Card App and Online Banking
You can access and manage your card by logging on to the bank's online banking feature on a PC. The application has many tools for managing your account and finances.
You can also use mobile banking using your iOS or Android phones by downloading the credit card app on the bank's website. You can also download the app on the Apple App Store and Google Play Store.
Already a Bank of America Credit Card Holder?
Having your card is just half of the picture. You must also know how to manage your card by reading the information below:
Bank of America Address and Contact Information
Address: Bank of America Corporate Center, 100 North Tryon Street, Charlotte, NC 28255.
To get Bank of America's help, you can visit the Bank of America Credit Card Customer Service online page for FAQs.
You can also call Bank of America customer service for your inquiries, including lost or stolen cards, at 800.732.9194 or 1.757.677.4701 (international mobile phone roaming charges may apply). You can also activate your card by calling 800.276.9939 or 800.222.7365. For your billing inquiries, feel free to call 866.266.0212.
Bank of America Credit Card Login
If you want to login to the Bank of America app, you must provide the user ID and password that you supplied upon registration. To access your account on mobile phones, download the Bank of America app.
Bank of America Credit Card Payment
There are many ways to pay your Bank of America credit card. You can pay online through your Bank of America checking or savings account or transfer money from your checking or savings account to your credit card. You can also make an online payment using an account from other banks or financial institution, through ATM credit card payments, by phone by calling 1.800.236.6497, at any Bank of America financial center, or by mailing a check.
The Bank of America credit card minimum repayment is 1% of your current balance and interest charges and any late fees for the month.
How to Cancel Your Bank of America Credit Card
If you are unhappy with your credit card, you can cancel a Bank of America credit card by visiting a local financial center to talk with a personal banker. You can also cancel by phone by calling 800.732.9194 or write a request letter addressed to Bank of America, PO Box 982234, El Paso, TX 79998-2234.
Conclusion
Bank of America credit cards are best for people who want to get huge rewards and cash back packages. However, the bank charges higher interest rates and fees compared to its rivals, which is something you may want to consider in your search process. Visit the Bank of America website now for more information and how to apply for a credit card today.
Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions for more information.
Also read: Which Bank of America Credit Cards Offer the Best Benefits? Find Out Now
