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Bank of America Cash Rewards Visa Signature Credit Card Review

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Bank of America Cash Rewards Visa Signature Credit Card Review

I’ve owned the Bank of America Cash Rewards Visa Signature credit card for a few years now and I still find it to be one of my more frequently used cards. It offers rotating categories with 3% cashback, which can save you a lot of money depending on the category. In addition, you’ll score 2% back at grocery and wholesale clubs and 1% cashback on all other purchases. Pair that with the $200 signup bonus, and it’s worth a look if you’re in the market for a new card.



Bank of America Cash Rewards Visa Signature Credit Card: Rewards

The Bank of America Cash Rewards Visa Signature credit card offers a wide variety of rewards options, great for those who spend on many different categories. With this card, you’ll get:

  • 1% cashback on all purchases
  • 2% cashback on purchases at grocery stores and wholesale clubs
  • Rotating categories offering 3% cashback

Bank of America Cash Rewards Visa Signature Credit Card: Other Benefits

Currently the Bank of America Cash Rewards Visa Signature credit card offers a $200 statement credit when you spend $1,000 within the first 3 months of owning the card. This offer is slightly above the $150 average, making it worth applying for.

Similar to other cards, the Bank of America Cash Rewards Visa Signature also offers a 0% intro APR for the first 15 months, a few months longer than many other issuers and a great option for those who need to borrow.

In addition, you’ll also have access to Bank of America deals, a rewards system that offers unique deals to various stores nationwide. These will stack on top of your normal cashback rates.



Bank of America Cash Rewards Visa Signature Credit Card: Cost

The Bank of America Cash Rewards Visa Signature credit card has a $0 annual fee making it a great option for just about anyone.

Bank of America Cash Rewards Visa Signature Credit Card: Qualifications

The Bank of America Cash Rewards Visa Signature credit card is for people with average or better credit scores. If your credit score ranges anywhere from 650-850, you’ll have a good chance of being approved for this card. If you want to be safe, only apply with a score greater than 700.

Bank of America Cash Rewards Visa Signature Credit Card: Credit Limit Increases

Bank of America does a below-average job of automatically increasing your credit limit. After owning the card for over a year, with normal usage and 100% of payments made on time, I had not received a credit limit increase.

One positive is that recently Bank of America updated its policy so that credit limit increase requests do not require a hard credit pull.

Should I get the Bank of America Cash Rewards Visa Signature Credit Card?

The Bank of America Cash Rewards Visa Signature credit card is a great option for those who spend on things that are included in the cards bonus categories. Also, the 2% cashback at grocery stores and wholesale clubs is a great bonus for everyday purchases.

The card also offers a nice intro offer of 0% APR for the first 15 months and a $200 statement credit if you spend $1,000 in the first 90 days of owning the card. If you’re looking for a few hundred bucks off your next big purchase or plan to take advantage of the 0% intro APR, this card is worth applying for over some others.

Overall Score: 6.8/10

 




Forrest
Forrest is a personal finance, entrepreneurship, and investing enthusiast dedicated to helping others obtain life long wealth. He owns several different blogs and is also passionate about health and fitness.

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