dcsimg
Apply online for BankAmericard Cash Rewards™ Credit Card
About Our Ratings
Credit Needed
Excellent/Good

BankAmericard Cash Rewards Credit Card Review

Pros & Cons

  • Online-exclusive intro offer rewards cardholders with $100 online cash rewards bonus after spending $500 within the first 90 days of account opening
  • Introductory 0% APR for 12 billing cycles for purchases and balance transfers
  • 3% cash back on gas; 2% cash back on groceries; 1% cash back on all other purchases.

Top Features

Cashback on Gas
Up to 3%
Cashback on groceries
Up to 2% at grocery stores
Cashback on other
1%
Purchase APR
13.24% - 23.24% Variable APR on purchases and balance transfers

Full Review

Curtis Arnold Editor-in-chief

BankAmericard Cash Rewards™  Credit Card Essentials  

With a shiny garnett color, the BankAmericard Cash Rewards™ Credit Card isn't just a pretty face. It's elegance represents its simplicity in a cash rewards program. The rewards rates are clearly outlined, there is no annual fee, and rewards points don't expire – which means cardholders don't have to keep track of much more than when the bill is due each month (such as the rotating bonus categories other card require you to sign up for each quarter).

The points for BankAmericard Cash Rewards™ Credit Card are earned in three tiers:

  • Gas purchases earn 3% cash back*
  • Grocery purchases earn 2% cash back*
  • All other purchases earn 1% cash back

*After you’ve reached $1,500 cash back in combined gas and grocery purchases, the rewards rate will be reduced to 1% cash  back.

BankAmericard Cash Rewards™ offers an introductory APR for 12 billing cycles which applies to purchases and to balance transfers within the first 60 days. If you’re looking to consolidate your credit card balances to a lower interest credit card this card might be worth checking out.

The real star power of the BankAmericard Cash Rewards™ Credit Card lies in its increased rewards rates for Bank of America and Merrill Lynch customers.  Customers of these financial institutions can earn a 10% customer bonus for redeeming cash back into an authorized checking or savings account and preferred rewards clients can increase their customer bonus up to 25%-75%.

For a little extra pizzazz, BankAmericard Cash Rewards™ Credit Card offers an online-exclusive intro perk: Cardholders can earn $100 online cash rewards bonus for spending $500 within the first 90 days of opening the card. The low spending total to qualify for intro offer is appealing; many cash rewards cards require at least $1,000 of purchases within the first three months to claim their intro offer.

What Our Editors Like Most

We love that cardholders have the opportunity to redeem their rewards directly into their Bank of America or Merrill Lynch savings or checking account.  Adding rewards points into a savings account where they can earn additional interest is a prime example of smart credit card use.

BankAmericard Cash Rewards™ Credit Card is a totally straightforward credit card. There is no annual fee, rewards points don’t expire, and the categories don’t rotate. The simplicity makes it easy to earn rewards and redeem them on your own terms.

For a credit card that doesn’t charge an annual fee the overall benefits are more substantial than you might think. Apart from the high rewards rates, and the intro APR for balance transfers and purchases, cardholders also have access to many of perks a Bank of America customer receive: Shop safe®, overdraft protection, access to Bank of America financial centers and ATMS, to name a few.

And while we don't recommend the use of cash advances except for real emergencies, your card does arrive ready to use with a PIN which allows you to take out cash from a ATMs worldwide. While this is something that can come handy in a crunch, keep in mind that ATM withdrawals are Bank Cash Advances and subject to a different APR than other types of transactions.

Potential Downsides

The cash back rewards cap each quarter at $1,500 for the highest reward categories. If you think you’ll spend above this rate on gas and groceries, and you have excellent credit, there are cash back cards with higher reward rates. 

After the intro APR expires, the BankAmericard Cash Rewards™ assesses balance transfer fees,  foreign transaction fees and a high penalty APR, so cardholders who utilize their card outside the “fee-free zone” may quickly offset their rewards earnings.

How BankAmericard Cash Rewards™ Compares to Other Cash Back Cards

BankAmericard Cash Rewards  vs. Chase Freedom®

These two cards showcase similar features: a cash reward for spending $500 within the first 90 days of account opening (although Chase Freedom®'s intro bonus is $50 greater), and both cards tout no annual fee. The primary difference between these two cash back cards is the structure of categories. Chase Freedom® offers 5% cash back for rotating categories (which cap at $1,500 then adjusts to 1%). With similar quarterly caps the decision between which card is best depends on the cardholder’s spending patterns. Do you like a change in your cash back categories, or do you know that gas, and groceries are the best for you?

BankAmericard Cash Rewards  vs. Discover it®- 18 Month Balance Transfer Offer

The intro offer for Discover it®- 18 Month Balance Transfer Offer has the potential to be far more substantial than the BankAmericard Cash Rewards™ program: Discover’s program  doubles all the cash back new card holders have earned at the end of your first year, automatically.  While the initial appeal of Discover it® is strong, the cardholder is again faced with the decision between rotating categories or not. Discover it offers 5% cash back on rotating categories which cap at $1,500 quarterly, before moving to 1% cash back.

BankAmericard Cash Rewards  vs. Blue Cash Preferred® Card from American Express.

While Blue Cash Preferred® Card from American Express offers a higher rewards rate for grocery and gas purchases the Blue Cash Preferred® has a $75 annual fee, and BankAmericard™ does not.  If you are a light credit card user you may not spend enough to offset the $75 annual fee assessed to the Blue Cash Preferred® giving the BankAmericard Cash Rewards™ Credit Card card a leg up.

Who Should get This Card?

This card is great for cardholders with good to excellent credit who spend often on groceries and gas, but not exorbitantly.

BankAmericard Cash Rewards™ Credit Card is also a sweet deal for Bank of America and Merrill Lynch customers who can earn additional bonuses for redeeming their rewards points into an authorized checking or savings account. 

This card compared to other cash back cards

Cashback on Gas
Up to 3%
1% When You Buy, 1% As You Pay
1%
Cashback on Groceries
Up to 2% at grocery stores
1% When You Buy, 1% As You Pay
1%
Cashback on other
1%
1% When You Buy, 1% As You Pay
Unlimited 1% cash back on every purchase and 5% total cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
Purchase APR
13.24% - 23.24% Variable APR on purchases and balance transfers
13.24% - 23.24%* (Variable) 
14.24%-23.24% Variable 
Rates and Fees
CardRatings.com Editorial Staff

BankAmericard Cash Rewards Credit Card details

Balance Transfer Intro APR
0% Intro APR for 12 billing cycles for balance transfers made in the first 60 days
Balance Transfer Intro Period
12 billing cycles
Purchase Intro
APR:
0% Introductory APR on purchases
Period:
12 billing cycles
Purchase APR
13.24% - 23.24% Variable APR on purchases and balance transfers 
Annual Fee
$0

What Bank of America says about this card

  • No annual fee
  • $100 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
  • Earn 1% cash back on every purchase, 2% at grocery stores and 3% on gas up to the first $1,500 in combined grocery/gas purchases each quarter
  • No changing categories and no expiration on rewards
  • 0% Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days, then, 13.24% - 23.24% Variable APR. 3% fee (min $10) applies to balance transfers.
  • Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account
  • If you're a Preferred Rewards client, you can increase that bonus to 25%-75%. Click "Apply Now" to learn more about Preferred Rewards

Credit Card Consumer Reviews:

  1. No reviews available for this card.   Be the first to review!

Write Consumer Reviews:





E-Mail will not be published









Special offers
Currently available on the BankAmericard Cash Rewards Credit Card
$100 online cash rewards bonus
After you spend at least $500 on purchases in the first 90 days of account opening

Start Here

Search. Compare. Apply.

Apply online for Blue Cash Preferred® Card from American Express

Blue Cash Preferred® Card from American Express

  • Get $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $150 back in the form of a statement credit.
  • Earn Cash Back: 6% U.S. supermarkets up to $6,000 per year in purchases (then 1%), 3% U.S. gas stations & select U.S. dept stores, 1% other purchases. Terms and limitations apply.
  • With the Blue Cash Preferred(R) Card, you can start earning cash back. No rotating reward categories. No enrollment required.
  • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. Cash back is earned only on eligible purchases.
  • 0% intro APR on purchases and balance transfers for 15 months, then a variable rate, currently 13.24% to 22.24%%, based on your creditworthiness and other factors.
  • Terms and limitations apply.
Credit Needed:
Excellent