【4/8 Update】The signup bonus on this card has been raised to $300, with $3,000 in spending required within three months. In addition, this card also offers 0 APR on all purchases during the first 7 billing cycles after opening, making it a pretty solid card for short-term financing.

Bank of America Cash Rewards Card Overview:

【Note】If this is your first time applying for a business credit card, please first read “Business Credit Card Introduction”

Application link:

Basic features

  • Sign-up bonus: $300 (requires $500 in spending within two months)
  • Cash back on spending: None
  • 0 APR: 0 APR on purchases for the first 7 billing cycles after opening
  • No annual fee

Highlights

  • 0 APR: For the first 7 billing cycles, any balance from purchases only needs the minimum payment each month, so you won't pay interest. Please read “Credit Card 0 APR Repayment” carefully

BofA card perks

  • Free museums: On the first weekend of every month, BofA cardholders get free admission to major museums nationwide. You can add an authorized user card for your family so they can also get free admission. To see the list of free museums in each state, please click here
  • BofA Deal: Offers 5%-15% cash back or a fixed cash amount at participating merchants. Good deals that have appeared before include Sears 15% cash back ($25 cap) and Nordstrom Rack 15% cash back ($37.5 cap). Redeeming any BofA Deal also gets you an extra $5. For details, see the “BofA Deals Guide”
  • Free credit score: BofA credit cards now provide a free TransUnion credit score. See: Free Credit Score Comparison

Drawbacks

  • The sign-up bonus is mediocre; everyday spending earns no cash back

My take:

Just grab the sign-up bonus. $300 for $3,000 in spending is pretty good.

Apply:

  • 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