Thursday, April 9, 2020
  • Home
Home Other Credit Cards Bank of America Cash Rewards Visa Signature Credit Card Review

Bank of America Cash Rewards Visa Signature Credit Card Review

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here