The Bank of America Unlimited Cash Rewards card is an excellent choice for those who want to earn cash back on their everyday purchases.
On the other hand, the BankAmericard is a straightforward, low-interest credit card designed for those who prioritize managing their debt or carrying a balance.
BofA Unlimited Cash Rewards vs. BankAmericard: General Comparison
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Unlimited Cash Rewards: How Much Cashback You Can Earn?
| |
|---|---|
Spend Per Category | Unlimited Cash Rewards |
$15,000 – U.S Supermarkets | $225 |
$5,000 – Restaurants
| $75 |
$5,000 – Airline | $75 |
$5,000 – Hotels | $75 |
$4,000 – Gas | $60 |
Estimated Annual Value | $510 |
Which Extra Benefits You'll Get On Both Cards?
Both cards offer similar extra benefits:
Balance Connect® for overdraft protection: Link your Bank of America checking account to your credit card to avoid declined purchases and overdrafts, with no transfer fees (though other fees may apply).
Account Alerts: Get email or text alerts to stay updated on your balances and payment due dates, helping you stay on top of your payments.
FICO® Score: Opt in to access your free monthly FICO® Score through the Mobile Banking app or Online Banking, so you can easily track your credit health.
When You Might Prefer The Unlimited Cash Rewards?
Here are some situations in which you might prefer the Bank of America Unlimited Cash Rewards card over the BankAmericard:
- You Want To Earn Cash Back: The Bank of America Unlimited Cash Rewards card is a rewards credit card that offers cash back on your purchases. If you're looking to earn cash back on your everyday spending, this card is a better choice as it provides a flat rate of cash back on all purchases.
- You Want To Take Advantage Of The Bank's Preferred Rewards Program: If you're a Bank of America customer and you're enrolled in the bank's Preferred Rewards program, you can earn an additional 25%-75% bonus on your cash back rewards. This can add up to a significant amount of savings over time.
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When You Might Prefer The BankAmericard?
Here are a few situations where you might prefer the BankAmericard over the Bank of America Unlimited Cash Rewards:
- You Need Long 0% introductory APR: The BankAmericard offers a longer 0% intro APR on purchases and balance transfers compared to the Unlimited Cash Rewards card.
- You Have A Lower Credit Score: The BankAmericard may be easier to qualify for if you have a lower credit score. While approval criteria vary, it could be a better option if your credit isn't perfect.
Compare The Alternatives
If you're looking for cards with 0% intro APR as well as rewards, here are some good options:
|
|
| |
|---|---|---|---|
Capital One Savor card | Chase Freedom Unlimited® card | Citi Simplicity® Card | |
Annual Fee | $0
| $0
| $0
|
Rewards |
1% – 8%
unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery store purchases (excluding superstores like Walmart® and Target®). You’ll also earn 1% on all other purchases. Plus, you get 10% cash back on purchases through Uber and Uber Eats, 8% on Capital One Entertainment purchases, and 5% on hotels and rental cars booked through Capital One Travel
|
1.5% – 5%
5% cash back on travel booked through Chase Ultimate Rewards, 3% on dining (including takeout and eligible delivery), 3% on drugstore purchases, and 1.5% on all other purchases
|
N/A
None
|
Welcome bonus |
$250
$250 cash bonus once you spend $500 on purchases within the first 3 months from account opening
|
$250
Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
|
N/A
None
|
Foreign Transaction Fee | $0
| 3%
| 3%
|
Purchase APR | 19.74% – 29.74% (Variable)
| 19.99 – 28.74% variable
| 18.74% – 29.49% (Variable)
|
Compare BofA Unlimited Cash Rewards Card
Compare BankAmericard
The BankAmericard and the Citi Simplicity card don't offer rewards or welcome bonuses, only a long 0% intro APR.
BankAmericard is the winner, offering a longer 0% intro period on purchases than the Reflect card and a lower APR.
Here's our comparison: BankAmericard vs. Wells Fargo Reflect Card
In terms of 0% intro APR, the BankAmericard outshines the Diamond Preferred card. But what about other benefits?
Here's our comparison: BankAmericard vs. Citi Diamond Preferred Card
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