Having a reliable credit card today is more important than ever. Apart from having instant access to funding, it also provides a wide range of rewards designed to make spending more enjoyable and worthwhile. One financial product that you should definitely consider is a Bank of America credit card.
A Bank of America credit card gives cardholders access to worldwide acceptance and competitive interest rates. It also prides itself on providing excellent security protection with its chip technology and digital wallet technology.
If you are interested in applying for a Bank of America credit card today, get to know some of its perks and privileges and how you can apply. Take a look below.
Features and Benefits of a Bank of America Credit Card
To further get to know what a credit card from this financial institution has to offer, we’ll be zeroing on the Bank of America Cash Rewards Credit Card. True to its name, this card allows cardholders to earn cash back from a number of categories.
As part of its introductory offering, you’ll be given $200 in cash rewards, provided you spend at least $1,000 in the first 90 days of opening your account.
In addition, 3% cash back will be earned from online shopping, drug stores, dining, travel, home, or gas-related categories. Meanwhile, you may enjoy 2% cash back at grocery stores and wholesale clubs. For all other purchases, 1% cash back will be given.
If you are a Preferred Rewards member, you can earn up to 25% to 75% more cash back on every purchase. Cash back can be redeemed via your savings account, as contributions, and other options as well. To match its offerings, it has a low-interest rate of 0% for the first 15 billing cycles.
Applying for a Bank of America Credit Card
To qualify for a Bank of America credit card, you need to be at least 18 years of age or at least 21 years old if you are a resident of Puerto Rico. You must also be a resident of the United States.
To apply, fill out the online application form found on their website. This will require you to provide your name, address, email address, date of birth, employment status, annual income, primary sources of income, and housing payments.
Upon approval, you will get a credit limit that will be at the bank’s discretion. This will be based on your documents, financial information, and creditworthiness.
Fees and Charges
- APR – 13.99 to 23.99%
- Annual Fee – None
- Balance Transfer Fee - $10 or 3% of the amount transferred (whichever is higher)
- Cash Advance Fee - $10 or 3% of the amount transferred (whichever is higher)
- Foreign Transaction Fee – 3% of the US dollar amount of each transaction
- Late Payment Charge – up to $40
The Bottom Line
Overall, the Bank of America credit card is best for individuals who want maximum savings and rewards, especially with the Cash Rewards Credit Card. With its generous cash back features and its worldwide acceptance, this will surely be a valuable addition to your financial tools.
For more information, please reach out to Bak of America at their customer service hotline at 800-732-9194. You may also visit them at their corporate address, located at Bank of America Corporate Center, 100 North Tryon Street, Charlotte, NC 28255.
Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.
