Key Insights Before Applying for the BoA Unlimited Cash Rewards Card

The Bank of America Unlimited Cash Rewards card, partnered with Visa Signature, offers a flat 1.5% cash back on all purchases, plus extra benefits for Preferred Rewards members.

The Preferred program provides several unique benefits.

With this credit card, your reward rate can rise to between 1.87% and 2.62% for purchases, which can greatly influence your financial situation.

To join this program, applicants must possess a current and qualifying Bank of America account.

Additionally, a combined average balance of $20,000 must be maintained over three months, including deposits or Merrill accounts.

The Bank of America card has no annual fee and offers a 15-month introductory period for APR on both purchases and balance transfers.

After this period, interest rates vary, ranging from 18.24% to 28.24%. For balance transfers, the fee starts at 3% and increases to 4% thereafter.

The card offers a $200 sign-up bonus for new cardholders who spend at least $1,000 in the first three months.

Rewards can be redeemed without expiration through multiple channels, including statement credits, Bank of America deposits, Amazon purchases, and PayPal.

If you’re curious to learn more, keep reading.

Eligibility Criteria

Firstly, you don’t need to be a current Bank of America client to apply for this card. By acquiring the BoA Unlimited, you will automatically generate a card account.

Eligibility for the BoA Unlimited requires you to be at least 18 years old, or up to 21 in specific states like Puerto Rico.

The card’s services are available in all 50 states across the U.S. To be eligible for the card, you must either be a U.S. citizen or a foreign national holding a valid passport and work visa.

Moreover, your credit history should show a good to excellent score, generally within the range of 670 to 700 FICO points.

You will also need to provide verifiable income documentation during the approval process for the card.

It’s important to remember that fulfilling these criteria doesn’t guarantee approval, as each application is reviewed at the discretion of Bank of America and based on availability.

How to Apply for the BoA Unlimited Cash Rewards Card?

The Bank of America site features an “Apply Now” button that takes prospective applicants to the application form.

When you reach the application form, you will need to enter basic information such as your first name, last name, home address, phone number, and email address.

If you are already a Bank of America customer, logging in can make the process easier. After that, you’ll need to provide banking details like your Social Security number, type of housing, monthly expenses, and income.

These are generally the main details requested by the bank, which will then perform a detailed credit evaluation.

During the application, you may need to provide documents such as proof of address, a scanned copy of your driver’s license or passport, and recent bank statements to confirm your income.

If you have any questions or face any issues, reach out to the bank through online chat or other customer support options, including the provided phone number.

Additional Information

The card is very versatile and doesn’t even require the physical card itself, as you can use digital wallets on your smartphone. For security, BoA provides:

• Fraud prevention lock
• $0 liability for fraud
• Balance Connect for overdraft
• Full card control via mobile app
• General account notifications
• FICO score tracking

Thus, beyond the rewards, this is an excellent choice for managing your finances effectively.

Interested in another choice?

The Capital One SavorOne card also prioritizes rewards, providing 1% on all eligible purchases and up to 3% in select categories for daily spending.

Moreover, this option offers strong security and convenient features, plus you can learn how to apply.