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Best Bank Of America Credit Cards of December 2019

Updated: Sep 30, 2020, 8:49am
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Editorial Note: Forbes may earn a commission on sales made from partner links on this page.- test default

With more than 4,600 retail locations, Bank of America is one of the country’s largest financial institutions. It also offers a full line of credit cards that cover nearly every part of the market from premium rewards cards to those for students and others building credit. We evaluated BofA’s cards to determine which were the best Bank of America credit cards by category.

Best for:

  1. Best for getting rewards where you spend the most
  2. Best for transferring a balance
  3. Best for earning unlimited points

Other Benefits:

  • Flexible redemption options
  • Earning an annual companion pass
SHOW MORE
Show Summary +

Best Bank of America Credit Cards

Best Bank of America Credit Cards

Featured Credit Card Featured Card

Best for getting rewards where you spend the most

The Blue Business® Plus Credit Card from American Express

Welcome Bonus
N/A
Annual Fee
No annual fee
Regular APR
13.24% - 19.24% Variable
Credit Score
Excellent, Good (700 - 749)

Best for getting rewards where you spend the most

The Blue Business® Plus Credit Card from American Express
Click Here To Apply Now

The Blue Business® Plus Credit Card from American Express

Apply Now
On American Express's Secure Website
See Rates & Fees / Terms Apply
Partner Offer
On American Express's Secure Website
Partner Offer

Pros

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Cons

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  • High fees and rates
  • High fees and rates
  • High fees and rates
  • High fees and rates
  • High fees and rates
  • Earn up to $300 back to boost your business. You can earn up to $100 in the form of statement credits at each of the following merchants: Dell Technologies, DocuSign or FedEx after you make an eligible purchase on your new Card within the first 3 months of Card Membership.
  • Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
  • Enjoy the flexibility to put more purchases on the Card and earn rewards when you buy above your credit limit*.
  • You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
  • More buying power for your business means more opportunities to earn points. That’s everyday business with the Blue Business Plus Card.
  • *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.
  • 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.24% – 19.24%, based on your creditworthiness and other factors at account opening.
  • No Annual Fee
  • Terms Apply
  • See Rates & Fees
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Featured Credit Card Featured Card

Best for earning unlimited points

Capital One® Savor® Cash Rewards Credit Card

4.5
Welcome Bonus
Custom Welcome Bonus Text
Annual Fee
$0 intro for first year; $95 after that
Regular APR
15.99% - 24.99% (Variable)
Credit Score
Excellent, Good (700 - 749)

Best for earning unlimited points

Capital One® Savor® Cash Rewards Credit Card
Click Here To Learn More

Capital One® Savor® Cash Rewards Credit Card

4.5
Learn More
On Capital One's Secure Website

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Pros

  • Pro 1
  • Pro 2
  • Pro 3
  • Pro 4

Cons

  • Con 1
  • Con 2
  • Con 3
  • Con 4
  • Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening
  • Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.
  • No rotating categories or sign-ups needed to earn cash rewards; plus cash back won’t expire for the life of the account and there’s no limit to how much you can earn
  • No foreign transaction fees
  • Capital One cardholders get access to premium experiences in dining, entertainment and more
  • $0 intro annual fee for the first year, $95 after that
Long Welcome Bonus Text
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

[back to summary]

Here's a summary of the Best Bank of America Credit Cards

Credit Card
The Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express
Capital One® Savor® Cash Rewards Credit Card
Capital One® Savor® Cash Rewards Credit Card
Credit Card
Best For
Credit Score
Annual Fee
Welcome Bonus
The Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express
Best for getting rewards where you spend the most
Excellent, Good
No annual fee
N/A
Capital One® Savor® Cash Rewards Credit Card
Capital One® Savor® Cash Rewards Credit Card
Best for earning unlimited points
Excellent, Good
$0 intro for first year; $95 after that
Custom Welcome Bonus Text

Bank of America cardholder benefits

All Bank of America cards come with some common benefits. For example, you can access your free FICO score updated monthly through its Mobile Banking app or by logging in online. You can also use these tools to view your credit card bill online, transfer funds, check available credit or configure account alerts.

Bank of America even offers optional overdraft protection to help prevent declined purchases, returned checks or other overdrafts when you link your eligible Bank of America checking account to your credit card.

Cardholders that earn rewards are eligible to earn even more points or cash back through the Preferred Rewards program. Your status in this program is based on your qualifying combined balances in your Bank of America banking and Merrill investment accounts. If you have between $20,000 and $50,000 of combined deposits, then you receive a 25% rewards bonus from eligible credit cards. Those with $50,000 to $100,000 in combined deposits receive a 50% rewards bonus, and those with more than $100,000 on deposit receive a massive 75% rewards bonus.

Methodology

Bank of America offers a wide variety of credit cards, each designed for various purposes. To pick the best ones, we looked at cards that have different uses. While many of their cards offer rewards, others are ideal for tasks such as carrying a balance or rebuilding your credit. Out of Bank of America’s offerings, we chose the best cards for a variety of different purposes, so you can pick the best one for you needs.

Best Bank of America Credit Cards

The Blue Business® Plus Credit Card from American Express

The Bank of America Cash Rewards credit card offers flexibility in how you earn your rewards. Cardholders choose between six categories to earn 3% cash back on up to $2,500 in purchases each quarter. That’s a potential savings of $300 per year.

Options for the 3% bonus category include gas, online shopping, dining, travel, drug stores, or home improvement & furnishings. And as your needs change, you can change the category every month. Additionally, you’ll receive 2% cash back at grocery stores and wholesale clubs and 1% everywhere else.

As an added incentive, you can receive a . If you need to carry or transfer a balance, you’ll enjoy a 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days, with a 3% balance transfer fee (min $10).

For Bank of America Preferred Rewards members, you can earn an additional 25% to 75% cash back. For those at the top level, that means that your 3% cash back category could net you 5.25% in cash back, or a maximum of $525 per year. There is no annual fee for Cash Rewards credit card.

Pros:

  • 3% cash back on select purchases.
  • Additional cash back for Bank of America Preferred Rewards members.
  • Strong promotional financing offer.
  • No annual fee.

Cons:

  • 3% rewards only apply to the first $2,500 spent each quarter on qualifying purchases.
  • 3% foreign transaction fee.

Bottom Line:

This is Bank of America’s best card for earning cash back, and it has an attractive welcome bonus and promotional financing offer. However there are limits on the bonus cash back that you can earn, and it’s foreign transaction fees are unwelcome when you leave the country.

You can read our full review of Bank of America Cash Rewards Credit Card here.

 

Southwest Rapid Rewards® Premier Credit Card
Southwest Rapid Rewards® Priority Credit Card
CitiBusiness® / AAdvantage® Platinum Select® Mastercard®
Southwest Rapid Rewards® Premier Credit Card
Learn More →
Learn More
On Chase's Secure Website
Southwest Rapid Rewards® Priority Credit Card
Apply Now →
Apply Now
On Chase's Secure Website
CitiBusiness® / AAdvantage® Platinum Select® Mastercard®
Apply Now →
Apply Now
On CitiBank's Secure Website
Best For
-
Best For
-
Best For
-
Regular APR
15.99% - 22.99% Variable
Regular APR
15.99% - 22.99% Variable
Regular APR
15.99% - 24.99% (Variable)
Annual Fee
$99
Annual Fee
$149
Annual Fee
$99, waived for first 12 months
Welcome Bonus
Earn 40,000 points.
Welcome Bonus
Earn 40,000 points.
Welcome Bonus
65,000 American Airlines AAdvantage® bonus miles
Credit Score
Excellent/Good
Credit Score
Excellent, Good
Credit Score
Excellent
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Earn 40,000 points after you spend $1,000 on purchases in the first 3 months your account is open.
Earn 40,000 points after you spend $1,000 on purchases in the first 3 months your account is open.
Earn 65,000 American Airlines AAdvantage® bonus miles after spending $4,000 in purchases within the first 4 months of account opening.
Capital One® Savor® Cash Rewards Credit Card

The Bank of America Travel Rewards credit card is made with the traveler in mind. Cardholders earn an unlimited 1.5 points for every dollar that they spend, regardless of spending category. If you’re a Preferred Rewards member, you can earn 25% to 75% more points on every purchase. That means you can earn up to 2.62 points per dollar spent.

New cardholders can .

When it’s time to book your vacation, you can redeem your points without fear of blackout dates. Points can be redeemed for statement credits when paying for flights, hotels, vacation packages, cruises, rental cars, or baggage fees.

For example, spending $15,000 on the Bank of America Travel Rewards Credit Card will give you 22,500 points, worth $225 in travel credits. Platinum Honors Preferred Rewards members would enjoy a 75% increase to travel credits worth $393.75.

There are no foreign transaction fees and there is no annual fee.

Pros:

  • Earn unlimited points on all purchases.
  • $250 welcome bonus.
  • 0% Introductory APR on purchases for 12 billing cycles
  • No annual fee and no foreign transaction fees.

Cons:

  • No bonus categories.
  • Some cards offer more valuable rewards.

Bottom line:

This is a good travel rewards card for those who value simplicity over complicated bonus rewards programs. And since it has no foreign transaction fees, it’s also a great card to use when traveling.

Choosing a Bank of America credit card

Just as with choosing a card from any other issuer, you’ll want to find the Bank of America card that best meets your needs. For example, the Bank of America Travel Rewards for Students is a great choice for young adults who travel frequently, although there are other student card options for those who prefer cash back or just want a simple card like the BankAmericard for Students. Frequent travelers will want to choose from one of its numerous travel rewards cards that are specifically designed for different types of travelers, such as the ones co-branded with Air France KLM, Alaska Airlines, or Amtrak.

Then there are cards that aren’t co-branded, such as the BankAmericard, Cash Rewards and Premium Rewards cards. These are a perfect way to earn rewards and benefits that are flexible and aren’t tied to a single brand.

Bottom line

A credit card from Bank of America can be a great choice, especially if you have an existing banking relationship with them. By picking the best Bank of America credit card for your needs, you can build credit, earn rewards or just have a secure and convenient way to make everyday purchases.

Forbes adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
PE Devs
PE Devs
administrator

Before joining Forbes, I reported for the Hartford Courant and the New Haven Register, covering breaking and local news. I'm a wealth reporter at Forbes. A Connecticut native, I studied journalism at Penn State University. Follow me on Twitter @someUser.

First Published: Feb 13, 2020, 11:00am
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
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