Bank of America offers a total of 22 credit cards in various categories including cash rewards, travel rewards, low interest rates, secured cards, and student cards. Bank of America cash rewards card is a grocery/gas credit card that offers 2% cash back for grocery purchases and 3% cash back when you use it to pump petrol for your car at the petrol station. The cash rewards offered for the grocery/gas is only up to $1,500 spending limit every quarter. The zero percent APR is applicable to new purchases for 1 year and you will be charged with a variable APR that will fluctuate in between 13.24% – 23.24% afterwards.
For balance transfer, you get to enjoy 0% APR for 60 days after account opening and there is a 3% ($10 minimum) fee that is charged onto your account for each balance transfer. With this card, you also get to earn $100 cash back when you meet the minimum spending level of $500 in 90 days. Customers earn 10% rewards bonus when they redeem their cash back and 25% rewards bonus for Preferred Rewards members. This cash rewards card does not charge annual fee. Bank of America also offer a cash rewards card for students that is useful for building the credit score.
Bank of America travel rewards card is a travel credit card that rewards customers with 1.5 points every time they spend $1 regardless of the types of purchases they make. The Bank of America travel card was voted as the best travel rewards card in the annual Best List organized by the Kiplinger. You don’t have to pay annual fee or foreign transaction fee with this card. The introductory period is 12 billing cycles and the standard APR rate is in between 15.24% – 23.24%. you can earn 20,000 bonus points that is equivalent to $200 statement credit if you spend a total of $1,000 in purchases within a period of 90 days.
Bank of America lower interest rate card is a balance transfer card that offers much low APR interest rates and long introductory period specifically for balance transfers. The 0% introductory period lasts for 18 months and the standard variable APR interest rate ranges from 11.24% – 21.24%. For balance transfer, there is a minimum charge of $10 for every balance transfer transaction. This is the card for you if you are looking to save money in the repayment by transferring the balance from a high interest card to a low interest card.
Bank of America secured card requires you to deposit a collateral of at least $300. the secured card offers a credit limit of up to $4,900 but the credit limit you will be approved will depend on several factors. Some of the factors that determine your credit line are income and amount of deposit you offer. If you consistently pay back the bill for 1 year, you will be able to get back your collateral.
Searching for the best credit cards for 2016? We review promotions and offers from leading card providers in 2016 to help discover the best possible credit card offers for 2016. Searching for rewards, perks and points let us know which credit card promotion your searching for and we will try to find the best deals.