[2025.5 Update] This card has a new offer: an extra 0.5% cash back in the first year, which means 2% cash back on all purchases during the first year. After one year, it goes back to 1.5%, and the welcome bonus is still $200.

Note: based on the information shown in the application interface, this extra 0.5% cannot be boosted by BofA Preferred Rewards bonuses.

Bank of America Unlimited Cash Rewards Credit Card Overview:

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Full review

BofA Unlimited Cash Rewards Credit Card

1.5% cash back on all purchases; no annual fee!

  • Welcome bonus: $200 after spending $1,000 within 90 days of account opening + extra 0.5% cash back in the first year
  • Rewards: 1.5% on all purchases
  • Redemption: Redeem directly for cash back; BOA account holders can get up to a 75% bonus
  • Annual fee: $0
  • Apply now>>

Highlights

  • Preferred Rewards bonus: If you have BofA Preferred Rewards status, your regular cash back earnings can receive an extra bonus. All purchases can earn up to 1.5%*1.75=2.625% cash back.
    • Regular BofA Checking/Saving customers can get an extra 10% cash back bonus
    • BofA Gold (Checking + investment account >$20,000) can get an extra 25% cash back bonus
    • BofA Platinum (Checking + investment account >$50,000) can get an extra 50% cash back bonus
    • BofA Platinum Honors (Checking + investment account >$100,000) can get an extra 75% cash back bonus
    • See the requirements here: official link

BofA card benefits

  • Free museum admission: On the first weekend of each month, you can get free admission to more than 200 museums nationwide just by showing your BofA credit card or debit card and your ID. Authorized users are also eligible. You can check the list of participating museums at the link below: BofA free museum list
  • BofA Deal: Offers 5%-15% cash back or fixed-dollar cash back at various merchants. Some strong past deals include Sears 15% cash back ($25 cap), Nordstrom Rack 15% cash back ($37.5 cap), and an extra $5 bonus for using any BofA Deal. For details, see “BofA Deals Guide”
  • Free credit score: BofA credit cards now provide a free TransUnion credit score. See also: Comparison of free credit scores

Cons

  • Unless you have Preferred Rewards status, it is not much better than a standard 2% cash back card

My take:

It is not surprising that this card exists, because Citi, Chase, Wells Fargo, and AMEX all have their own flat-rate cash back cards offering 1.5%-2% back on all purchases. Now BofA has joined the competition as well. This card is very compelling for people with BofA Preferred Rewards status, but for most other people its value is fairly limited. If you already have multiple Customized cards offering 3%, 2%, and 1%, then product changing other annual-fee cards into this one could also be a good option.

Compared with the BofA Travel Rewards card (1.5x points on all purchases, also with Preferred Rewards boosts, up to 2.625x points), the biggest advantage of this card is that Travel Rewards requires you to redeem against travel purchases in order to use the points. This card should allow direct cash back instead.

[2021.7 Update] Many BofA credit card holders have now received offers to product change into this card. Some users can even see an offer for $200 cash back after product changing and meeting a spending requirement. If you do not have much use for your current card, switching it to this one is a solid option. After all, you may be able to pick up another $200 without a new hard pull or a new account.

How to apply:

  • This card was not available publicly at the time and could only be obtained by product changing from another boa credit card through a targeted mail/email offer
  • Some users received a $200 product change offer, while others did not see the $200 language, so there is no need to rush to switch
  • BOA application status check link, or call: (800) 732-9194
  • 2/3/4 rule: at most 2 cards approved within 2 months, 3 within 12 months, and 4 within 24 months. However, BofA’s system is not very reliable, and sometimes a card may be approved at first but later shut down.
  • The welcome bonus on the same card can only be received once every 24 months, and you need to make sure the card is closed before applying again>
  • You need to be a Resident to apply for a BOA credit card online: when applying for a BofA credit card online, if you select Non resident alien, you will not be able to continue and must apply by phone. However, BofA’s definition of Resident alien is different from the IRS definition of Resident alien for tax purpose. No matter what immigration status you used to enter the US, if you have lived in the US for 183 days within the past two years, then select Resident Alien. If you just arrived in the US and cannot meet this requirement, follow the prompt on the online application page and call 1.800.932.2775 to apply.
  • You can call the reconsideration line (888-593-6092) to speed up credit card approval or request a review of a denied application.
  • More about applying for BofA credit cards

Application link